Bank signed its first syndicated loan, worth EUR 75 million
On Wednesday, December 21st, Transilvania Bank signed its
first syndicated loan, worth EUR 75 million, delegating Bank Austria Creditanstalt
and Citibank NA to administrate it. The loan has a 5-years reimbursement
Andrei, vice-president of Citibank Romania, is the new president of the
Financial Markets Association
Victor Andrei, vice-president of Citibank Romania, is the new
president of the Financial Markets Association - ACI Romania, replacing Paul
Prodan, who left the financial-banking system this summer, once with resigning
from the position as general vice-manager with ING Bank. Luminita Runcan, Treasury
Manager with Transilvania Bank, was appointed as general vice-secretary, replacing
Enache Jiru, former CEC president and state-secretary with the Ministry of Finances
on the State Treasury. Eugen Carstea, Executive Manager with BCR Treasury, was
appointed Head of the Professionalism Committee with ACI Romania. Cristian Sporis,
general manager with Raiffeisen Bank's Arbitration and Treasury Department, was
reelected in the general meeting.
Bank cannot recover the money paid for BCR before 2016, while OMV can recover
the money paid on Petrom in 4 years
Erste Bank cannot recover the money paid for BCR before 2016,
while OMV can recover the money paid on Petrom in 4 years. According to the forecasts
made by Petrom's management, OMV will recover, in one year, EUR 167 million,
due to the EUR 500 million profits made on 2005. OMV operated a capital increase
after the Privatization. This investment will be recovered within 8 years.
Tehnoment allocates 3% of the turnover for research and development
The company Bega Tehnomet Timisoara, which has as activity
object metallic constrcutions, established its objectives for next year regarding
research and development. The company estimates expenses for research and development
of 3% of the turnover.
current accounts of the payment balance recorded a deficit of EUR 4.891
The current accounts of the payment balance recorded a deficit of
EUR 4.891 billion in the first ten months, 38.6% higher than the one in the similar
period in 2004. This was supported mainly by the unbalance of EUR 6 million coming
from the goods and services transfer.
National Export Strategy was adopted by the Executive
The Government adopted yesterday, December 22nd, the National Export
Strategy, which has as final purpose to increase exports, in 2006, by 15%. SNE
objective will be determined by investments in technology, by the qualitative
certification of products and by the legislative circumstances of foreign trade.
payments made by the Agency SAPARD increased by 12%
This year, the Agency SAPARD paid EUR 228 million to the beneficiaries
of projects, with approximately EUR 25 million more as against last year. The
Agency SAPARD authorized last week the last payments for 2005, worth EUR 8.5
Ghimbav invested EUR 3 million in a new manufacturing line
The company Ecopack Ghimbav is one of the main producers of
wavy cartboard and wrappers of wavy cartboard in the country. The upgrading
investments in the last years ensure an output capacity of approximately
80 million square meters per year.
Thursday, December 22nd, Carpatica Commercial Bank opened its 116th outlet
On Thursday, December 22nd, Carpatica Commercial Bank opened its
116th outlet, thus reaching a double number of outlets from the end of 2004.
Carpatica Bank's investments in 2005 exceed EUR 3 million, an this value of forecast
to double in 2006. The investments will focus on consolidating its outlet network
in Bucharest, that is forecast to reach 20 outlets at the end of 2006, as well
as on improving the distribution channels and services.
Brasov City Hall has recently signed a partnership with 7 construction
companies on building apartment blocks on mortgage loans. The pieces of lands
the apartment blocks will be built on are to be ceded by the City Hall and can
be mortgage at BCR, BRD and Tiriac Bank.
Spiru Haret University signed with the office in Romania of Fujitsu Siemens
Computers a contract
Recently, Spiru Haret University signed with the office in Romania
of Fujitsu Siemens Computers a contract to buy 1,000 PCs of cutting-edge technology,
meant for testing centers in the country. The computers Fujitsu Siemnes will
be used by 44 territorial centers.
of USD 15 million in the free area Curtici-Arad in 2005
At the end-year, the administration of the free area Curtici-Arad
in 2005 concluded that 2005 was an exceptional year for the institution, from
the standpoint of the profit recorded, as well as from that of the attracted
investments, following the organized auctions.
Government decided to take electricity and natural gas out of the fiscal
In its session on December 22nd, by an Emergency Decree, the Government
decided to take electricity and natural gas out of the fiscal repository regime,
making the necessary changes to the Tax Code. According to Oana Marinescu, spokeswoman
with the Government, the decree harmonizes the Romanian legal frame to the European
chairman, Emil Boc, is surprised by the privileges that the Parliament
members have assumed became law
PD chairman, Emil Boc, is surprised by the privileges that the Parliament
members have assumed became law. The statement of Emil Boc can be the signal
of a politic game made up by the President Traian Basescu.