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.
Daianu was proposed for the position of president on BCR's Supervisory
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.
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.
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.
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.
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.
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.
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.
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).
300 million profits for Romanian oil companies in the first six months
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
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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