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2005 Archive:
 
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August, 2005
August 2, 2005
August 3, 2005
August 4, 2005
August 5, 2005
August 8, 2005
August 9, 2005
August 10, 2005
August 11, 2005
August 12, 2005
August 15, 2005
August 16, 2005
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August 24, 2005
August 25, 2005
August 26, 2005
August 29, 2005
August 30, 2005
August 31, 2005



      August 31, 2005


  FIC
No news for today
  Financial News
Bancpost and BRD will manage almost EUR 500 million for Bucharest City Hall
NBR, mediocre in clarity of communication
Daniel Daianu was proposed for the position of president on BCR's Supervisory Committee
Warning for Raiffeisen card users
Ion Tiriac Bank extended the maximum reimbursement period for some loans
  Macroeconomic News
Romania and Bulgaria might be part of the gas distribution plan in Europe
Romanian wine and dairy products, appreciated at the farming exhibition in Budapest
Owners associations and trade unions support lowering the VAT to 9-10% for the basic food products
Banks adapt their products to NBR's new crediting regulations
Commercial deficit after 7 months - almost EUR 5 billion
EUR 300 million profits for Romanian oil companies in the first six months of 2005
  Investment News
General Electric Capital Corporation sold its participation in BancPost
Gregory's Romania to be listed on Rasdaq
Nexans expands investments in Chisineu Cris city, Arad county
In August, BCR opened 5 new agencies
Oil securities had the best evolutions In August, on the Sibiu stock exchange
Sebastian Ghita wants half of Tohani Domains
RaboBank entered the race for CEC
A branch office for Libra Bank in Ploiesti
  Legislative News
CFR Calatori will be divided into eight regional companies
  Politics
Conflicts between PNL and PD on fiscality
Traian Basescu supports Romania's adhesion to the EU in 2007, not later


   Financial News

  Bancpost and BRD will manage almost EUR 500 million for Bucharest City Hall

 The banks to manage almost EUR 500 million for Bucharest City Hall were selected in an auction. Bancpost and BRD will sign agreements with the mayoralty for managing the amount for 4 years.
  (CURIERUL NATIONAL 5 lonut Tudorica) --- Read article here

 NBR, mediocre in clarity of communication

   NBR received 5 out of 10 points on clarity of communication, scoring which places it on the last place in the competition with the Central Banks in Hungary, Poland, the Czech Republic and Slovakia. The leader of the top was the National Bank of the Czech Republic, that scored 8 points, followed by Hungary, with 7 points.
   (BURSA 1 Alexa Trandafir) --- Read article here

 Daniel Daianu was proposed for the position of president on BCR's Supervisory CommitteeC

   Analyst Daniel Daianu was proposed for the position of president on BCR's Supervisory Committee, after Sebastian Vladulescu resigned. The latter took over, after the Government reshuffling, the position of minister of Finances, replacing Ionut Popescu. Mr. Daianu confirmed him being proposed for this position, but stated he is not yet sure he will be appointed.
  (BURSA 1 Magda Stoica) --- Read article here

  Warning for Raiffeisen card users

  Raiffeisen Bank warns card owners not to tell anyone their PIN code, under no circumstances, stating that an electronic messages circulates these days that is formulated as coming from the bank, which invites card owners to access a link. The window that opens, with a similar design to that of the bank's website, asks the owner, under the pretext of granting him access to certain pieces of information, his card number, the validity term and the PIN code.
  (ZIARUL FINANCIAR 3 ) --- Read article here

   Ion Tiriac Bank extended the maximum reimbursement period for some loans

  Ion Tiriac Commercial Bank has recently extended the maximum reimbursement period for 1 consumption and 2 real estate loans and raised the maximum amount to be granted in one of them. In the case of the " Acasa '' Loan, the maximum crediting period was extended from 15 to 25 years, while the one for the Mortgage Loan and the " MultiCredit Extra '' was raised from 20 to 25 years and, respectively, from 15 to 20 years.
  (ZIARUL FINANCIAR 4 Liviu Chiru) --- Read article here

   Macroeconomic News

 Romania and Bulgaria might be part of the gas distribution plan in Europe


  Ad of 2009, Iran will export 300 billion gas cubics per year to Europe. According to a report of the American Energy Department, Romania and Bulgaria might be part of the gas distribution plan in Europe. In 2003, Romania, Bulgaria and Iran signed an agreement in this respect.

  (NINE O CLOCK 5 ) --- Read article here

 Romanian wine and dairy products, appreciated at the farming exhibition in Budapest


   Gheorghe Flutur, Romanian minister of Agriculture, participated at the meeting of the ministers of Agriculture from 12 countries, hosted by Budapest. The minister also visited the farming exhibition in the Hungarian capital, in which Romania was most appreciated for its wines, dairy and forest products.

  (ECONOMISTUL 2 ) --- Read article here

 Owners associations and trade unions support lowering the VAT to 9-10% for the basic food products


   Representatives of owners associations and trade unions say that lowering the VAT to 9-10% for the basic food products - milk, raw meat, oil, sugar - will lead to price cuts. In their opinion, this measure would rise the revenues to the State budget.

  (CURIERUL NATIONAL 8 Florin But) --- Read article here

 Banks adapt their products to NBR's new crediting regulations


   HVB and Tiriac Bank announced extending the reimbursement period for the loans granted to natural persons, so that the monthly installments fit into the 40% limit if the requester's revenues. This measure comes as compensation to limiting the client's exposure degree to credits. The longer the reimbursement period, the lower the monthly installments, so that clients will smaller incomes will be advantaged.

  (CURIERUL NATIONAL 1 ) --- Read article here
  (CURIERUL NATIONAL 5 ) --- Read article here

 Commercial deficit after 7 months - almost EUR 5 billion


   According to INS, the commercial deficit after the first 7 months of 2005 reached almost EUR 5 billion, that is 42.1% up from the similar period of 2004. The largest increase in exports was logged by mineral products (oil and byproducts, ore, coal, cement, salt).

  (ZIARUL FINANCIAR 1 Mihai Bobocea) --- Read article here
  (ZIARUL FINANCIAR 3 Mihai Bobocea) --- Read article here

 EUR 300 million profits for Romanian oil companies in the first six months of 2005


   In the first six months of 2005, Romanian oil companies obtained a net cumulated profit exceeding EUR 300 million. The high increase of the international crude prices and the liberalization of the Romanian fuels market brought profits to each company on the market: Petrom, Rompetrol, Lukoil, MOL, OMV Romania Mineraloel and Agip.

  (ZIARUL FINANCIAR 10 Adrian MTrsanu) --- Read article here

   Investment News

 General Electric Capital Corporation sold its participation in BancPost

  EFG Eurobank Ergasias, majority shareholder in BancPost, competed, in early August, the transaction by which it bought the 7.5% share package from General Electric Capital Corporation. Thus, the Greek banks increased its participation in BancPost from 481 million shares or 55% in the bank's equity, to 546 million shares.
  (BURSA 8 Magda Stoica) --- Read article here

  Gregory's Romania to be listed on Rasdaq


  Gregory's Romania fast-food restaurants chain will initiate procedures for being listed on Rasdaq, in order to attract additional funds to the resources obtained from banks and leasing companies. The company wants to franchise its business, potential investors having to consider amounts exceeding EUR 60,000, a franchise fee of EUR 8,000 and a 3.5% monthly contribution.
  (BURSA 2 Ancuta Stanciu) --- Read article here
  (BURSA 1 Ancuta Stanciu) --- Read article here

  Nexans expands investments in Chisineu Cris city, Arad county

  In a couple of days, Chisineu-Cris Local Council will organize an auction for selling an 1 and a half acres piece of land located in Padureni district, on which a copper conductors drawing factory is to be built. The investment will be made by Nexans. Irish producer C&F Tooling also announced its intention of buying 10 hectares in Chisineu-Cris, for building a metal processing ecologic factory.
  (BURSA 10 Paula Bulzan) --- Read article here

  In August, BCR opened 5 new agencies

  In August, BCR opened 5 new agencies, its network reaching 339 units. The bank operates the 2nd territorial network in terms of size, after CEC's. The new units are located in Vaslui, Timisoara, Pitesti and Slatina. The bank is the strongest player on the retail segment, in which being close to the client is one of the most important criteria.
  (ZIARUL FINANCIAR 4 ) --- Read article here

  Oil securities had the best evolutions In August, on the Sibiu stock exchange

  The number of contracts signed in one month on the Sibiu Stock Exchange exceeded, on Monday, August 29th, 40,000, the daily average being of 2,000 futures and options contracts. The previous record was set in September 2002, with 36,000 contracts. Most of the contracts were signed on oil securities, mainly with Petrom's.
  (CURIERUL NATIONAL 6 Radu Georgescu) --- Read article here

  Sebastian Ghita wants half of Tohani Domains

  Sebastian Ghita, the shareholder of the IT company Asesoft Ploiesti, negotiates the takeover of 50% of the shares of Tohani Domains. The wine industry attracted in the last years many personalities from several areas of the public Romanian life, among whom the trade union leader Liviu Luca.
  (ZIARUL FINANCIAR 1 Stelian Negrea) --- Read article here

  RaboBank entered the race for CEC

  RaboBank confirmed its iinterest in buying the majority share package in CEC from the State. The Ministry of Public Funds expects letters of intention by August 31st 2005. Afterward, it will draw up a short list, by September 9th, which will only include those institutions that will continue the race for CEC. So far, the banks that expressed their nterest in this privatization are Societe Generale, Dexia, Raiffeisen Bank and Erste Bank.
  (BURSA 8 Magda Stoica) --- Read article here

  A branch office for Libra Bank in Ploiesti

  At the beginning of the week, Libra Bank opened a new office in Ploiesti, located within the Winmarkt store, its network thus reaching 10 units. The inauguration is part of a plan on the cooperation between the 2 companies, members of the North-American New century Holdings group. By the end of the year, Libra Bank targets reaching 14 units.
  (ZIARUL FINANCIAR 4 ) --- Read article here

   Legislative News

   CFR Calatori will be divided into eight regional companies

  CFR Calatori will be divided into eight regional companies subordinated to the Ministry of Transportation, Constructions and Tourism that can be privatized of the State decides to give up control over public railway transportation units. Establishing the 8 passengers transportation commercial companies - Bucharest, Craiova, Timisoara, Cluj, Brasov, Iasi, Galati and Constanta - was decided by a Government's Decision adopted on August 11th 2005.
  (ZIARUL FINANCIAR 3 ) ---  Read article here

   Politics

   Conflicts between PNL and PD on fiscality

  The Liberals and Democrats are arguing more frequently, the leaders of the 2 parties starting a true war of statements. Even though the reunion of the leaders of the coalition, that took place yesterday, August 30th, should have debated the possibility of raising fiscality, PM Calin Popescu Tariceanu was not present at it.
   (CRONICA ROMANA 1 ) --- Read article here
   (CRONICA ROMANA 5 ) --- Read article here

   Traian Basescu supports Romania's adhesion to the EU in 2007, not later

  Yesterday, in the annual meeting with Romanian Ambassadors and General Consuls, president Traian Basescu stated that the primordial objective of authorities in Bucharest is the adhesion to the EU on January 1st 2007, 2008 not being an alternative.
   (BURSA 3 Catalin Oprea) --- Read article here
   
   
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