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March 31, 2008



      March 31, 2008


  FIC
No news for today
  Financial News
Raiffeisen Bank Romania's net profit up 68.5%
Growth rate of retail deposits keeps slowing down
Bancpost slams BNR's rate hike
Barclays and HSBC to enter Romania's financial market
  Macroeconomic News
Investment and consultancy guides launched by the SMEs Ministry today
Government passed measures designed to reduce the budget deficit
National Forecast Commission says average wage will go up only 6 percent
Prime Minister Calin Popescu Tariceanu says farming funds can turn Romania into a European power
  Investment News
IGD to take over Winmarkt
dufa Deutek took over Bengoss Comimpex SRL
Mega Image took over the La Fourmi chain from investment fund Global Finance
Delphi will open a manufacturing plant in Iasi
  Legislative News
Government to discuss emergency act on pollution
  Politics
President Traian Basescu to meet George Bush in Constanta
Vasile Blaga is PD-L's candidate for Bucharest mayor

   Financial News

 Raiffeisen Bank Romania's net profit up 68.5%

   Raiffeisen Bank Romania posted gross profits of RON 387 million for the year 2007, up 80 percent versus the year 2006. The bank has also increased its net profits by 68.5 percent over the course of 2007, reaching RON 314 million. Steven van Groningen, president of Raiffeisen Bank, stated that the financial results posted by Raiffeisen Bank for the year 2007 confirm its capacity for balanced growth. (Romanian Source)
   (BURSA 6 ) --- Read article here

 Growth rate of retail deposits keeps slowing down

   The increase in the volume of deposits opened by retail customers in both RON and foreign currencies kept slowing down in February, reaching one of the lowest levels of this year. The RON-denominated deposits of retail customers amounted to RON 44.7 billion at the end of February, up only 30.8 percent versus the corresponding period of 2007. This is the third straight month of slumping growth rates. (Romanian Source)
   (ZIARUL FINANCIAR 7 Livn CHIRU) --- Read article here

 Bancpost slams BNR's rate hike

   The impact of the recent rate hike on economic growth is difficult to assess, but the real interest rate computed for the end of this year, around 3.5 percent compared to the nominal rate of 9.5 percent and estimated inflation of 5.9 percent, will have restrictive effects on the economy in the coming years, says Dan Bucsa, head of Bancpost's research division. Bucsa stated that the rate hike did not translate into a stronger national currency because of the international financial crisis. (Romanian Source)
   (ZIARUL FINANCIAR 7 RAZVAN VOICAN) --- Read article here

 Barclays and HSBC to enter Romania's financial market

   British groups Barclays and HSBC, which are among the leading financial groups worldwide, will enter the Romanian stock market through their branches Barclays Bank Ireland and HSBC Trinkaus Burkhardt Luxembourg, according tot he licenses issued by the National Securities Commission. The stock market watchdog has also licensed three players from Finland, Austria and Luxembourg. (Romanian Source)
   (BUSINESS STANDARD 17 adrian ionescu) --- Read article here

   Macroeconomic News

 Investment and consultancy guides launched by the SMEs Ministry today

   The investment and consultancy guides featuring all the information required by SMEs to draft the application files for European grants amounting to more than EUR 1 billion will be launched today by the SMEs, Commerce, Tourism and Liberal Professions Ministry. The three guides will be available on the ministry's web page. (Romanian Source)
   (ECONOMISTUL 2 ) --- Read article here

 Government passed measures designed to reduce the budget deficit

   The purchase of houses, cars, furniture, home appliances, telecommunications equipment and air conditioning will be banned in 2008 in order to increase the efficient use of public money, according to an emergency act discussed by the Government. The bill features a series of measures designed to cut down the budget deficit in 2008 and to increase the efficient use of public money and applies to public authorities financed from the state budget, local budgets or their own funds. (Romanian Source)
   (ECONOMISTUL 3 ) --- Read article here

 National Forecast Commission says average wage will go up only 6 percent

   The net average wage will go up only 6 percent in euros this year, the lowest growth rate of the past five years, mainly due to the RON's depreciation toward the euro, according to the National Forecast Commission. The net average wage estimated for 2008 is RON 1,181 (EUR 332), compared to EUR 313 in 2007. The average wage is expected to reach EUR 560 in 2013, which means a growth rate of 9 percent per year, every year until 2013. (Romanian Source)
   (ZIARUL FINANCIAR 3 MlHAl BOBOCEA) --- Read article here

 Prime Minister Calin Popescu Tariceanu says farming funds can turn Romania into a European power

   Prime Minister Calin Popescu Tariceanu said in Braila that he wants to turn Romania into Europe's second biggest food producer. Tariceanu, who attended together with Agriculture Minister Dacia Ciolos the promotion conference of the National Program for Rural Sustainable Development, added that the agriculture sector will receive EUR 10 billion by 2013, out of which EUR 8 billion are European funds. (Romanian Source)
   (ZIARUL FINANCIAR 3 ) --- Read article here

   Investment News

 IGD to take over Winmarkt

   Italian group IDG signed a preliminary purchase agreement with Ivington Enterprises and Broadhurst Investment for the take over of the Winmarkt chain of stores and a commercial property offered for leasing. The deal is estimated at EUR 182 million. The Winmarkt chain is made of 15 stores amounting to more than 147,000 sqm. (Romanian Source)
   (BURSA 8 ) --- Read article here

 dufa Deutek took over Bengoss Comimpex SRL

   dufa Deutek as signed the deal for buying the entire stock of Bengoss Comimpex SRL, a seller of dry mortars under the Bauleiter brand, for which it would pay EUR 18.9 million. The acquisition of Bengoss Comimpex helps dufa Deutek to expand its portfolio of products. (Romanian Source)
   (CURIERUL NATIONAL 9 ) --- Read article here

 Mega Image took over the La Fourmi chain from investment fund Global Finance

   Investment fund Global Finance sold the La Fourmi chain, which is made of 14 Bucharest stores, to Mega Image, the biggest supermarket chain in Bucharest. The deal is estimated at EUR 12-15 million. Delhaize, owner of Mega Image bought La Fouormi's entire stock from the Greek investment fund and the company's founder, Charles Maalouf. (Romanian Source)
   (ZIARUL FINANCIAR 1 MlHAELA POPESCU) --- Read article here

 Delphi will open a manufacturing plant in Iasi

   Delphi has announced it will keep investing in its French and Spanish plants, but also open a new manufacturing facility for injection systems parts in Iasi, due to increased market demand for such products. The company would not say whether the activity of its French and Spanish plants elsewhere. (Romanian Source)
   (ZIARUL FINANCIAR 19 ) --- Read article here

   Legislative News

 Government to discuss emergency act on pollution

   The Government will discuss the first draft of the emergency act regarding the tax on pollution for cars. A press release issued by the Government states that the new tax is an environment protection tool and the money levied will be used to finance environment protection programs. PM Calin Popescu Tariceanu said the act is slightly different than intended and will harmonize certain environment protection regulations. (Romanian Source)
   (BURSA 2 ) --- Read article here

   Politics

 President Traian Basescu to meet George Bush in Constanta

   Cristian Preda, an adviser to the president, said that choosing Constanta for the meeting between US president George Bush and Romanian president Traian Basescu was not random. The setting was prompted by a statement made by Bush, who spoke once about expanding NATO from the Baltic to the Black Sea. Basescu will also meet with NATO secretary general Jaap de Hoop Scheffer and UN secretary general Ban Ki-Moon. (Romanian Source)
   (CRONICA ROMANA 3 ) --- Read article here

 Vasile Blaga is PD-L's candidate for Bucharest mayor

   Vasile Blaga, 52, is PD-L's candidate for Bucharest mayor, a job that his party has been winning since the year 2000. Blaga was not officially announced by his party, but admitted during a TV show that he would run. His campaign will be managed by Third District mayor Liviu Negoita and current city mayor, Adriean Videanu. (Romanian Source)
   (ZIARUL FINANCIAR 22 DOINA ANGHEL) --- Read article here

   
   
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