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2005 Archive:
 
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February, 2005
February 2, 2005
February 3, 2005
February 4, 2005
February 7, 2005
February 8, 2005
February 9, 2005
February 10, 2005
February 11, 2005
February 14, 2005
February 16, 2005
February 18, 2005
February 21, 2005
February 22, 2005
February 28, 2005



      February 28, 2005


  FIC
The Foreign Investors Council accuses the high degree of corruption
Patrick Gelin, vice-president of the Foreign Investors Council, on the appreciation of the national currency
FIC has launched, yesterday, the " White Book - Short-term solutions for increasing the foreign investments in Romania ''
FIC asks for ROL denomination postponement
  Financial News
Romaero, net profit estimated to approximately EUR 20,000 (ROL 827 million)
Ductil, net profit amounting to ROL 174 billion (EUR 4.3 million)
BCR has launched a 10 years credit for personal needs
Henkel Romania, turnover amounting to ROL 2,360 billion
Michelin estimates an annual increase by 20 percent
  Macroeconomic News
Major financing from EBRD
The Minister of Finances, lonut Popescu, will sign today, two financing agreements with the European Bank for Investments (EBI)
Strategic partnership with the World Bank, in July
  Investment News
The owners of Murfatlar have bought the Biborteni mineral water
Glock pistols assembled in Cugir
" Tractorul '' to be privatized until summer
Carpatica invests EUR 3.5 million in new offices, in 2005
Yamaha network to expand in 2005 in the main cities throughout the country
  Legislative News
The Government might discuss today the project of modifying the Fiscal Code
  Politics
The European Commissioner for Expansion, Olli Rehn, and the president of the European Parliament, Josep Borell, in Romania
CSAT to analyze the corruption

   FIC

ISSUE

The Foreign Investors Council accuses the high degree of corruption

On Monday, February 21, this year, the Foreign Investors Council (FIC) launched the 2005 edition of the White Book that contains recommendations to the Romanian authorities for improving the Romanian business environment. Among other, FIC accuses the high degree of corruption as being the main obstacle the investors willing to operate in Romania have to face. In order to eliminate the corruption among the public functionaries, FIC suggests the increase of their salaries. On the other hand, FIC recommends PNA to focus its resources on " high level investigations ''.

Newspaper

Page

Author

Width

Height

Area

Title

JURNALUL NATIONAL 

14 

DANIELA IVAN 

21.48 

28.97 

622.58 

Changes wanted by foreign companies

CURENTUL 

Silvia Cernadarca 

11.41 

12.58 

143.59 

Over a third of the Romanian companies have to bribe public functionaries.

CURENTUL 

10 

Silvia Cernadarca 

23.06 

25.02 

577.21 

Over a third of the Romanian companies have to bribe public functionaries.



ISSUE

Patrick Gelin, vice-president of the Foreign Investors Council, on the appreciation of the national currency

Patrick Gelin, vice-president of the Foreign Investors Council, considers that the appreciation of the national currency is normal if we were to analyze the evolution of other European countries before accession. " It is obvious that the exporters suffer because of this hard ROL policy, however this is just a period of transition, that won't last forever '', added the FIC's vice-president.

Newspaper

Page

Author

Width

Height

Area

Title

BUCAREST HEBDO 

par Anca GHERASIM 

17.25 

14.44 

249.23 

FIC asks for ROL denomination postponement



ISSUE

FIC has launched, yesterday, the " White Book - Short-term solutions for increasing the foreign investments in Romania ''

On Monday, February 21, this year, the Foreign Investors Council (FIC) launched the 2005 edition of the White Book that contains recommendations to the Romanian authorities for improving the Romanian business environment. The FIC believes that its recommendations will make Romania a more attractive place to invest and will assist our country to join the EU in 2007. Ruxandra Bandila, FIC executive director, underlined: " The tax level is a guvernamental policy. Foreign companies are equally affected by the change in the fiscal policy as like local companies. FIC is interested in a stable, predictable and clear business environment ''. " We are confident that, in 2-3 years, Romania will attract more FDI (Foreign Direct Investments) then Bulgaria, '' FIC vicepresident Patrick Gelin declared.

Newspaper

Page

Author

Width

Height

Area

Title

ROMANIAN BUSINESS JOURNAL 

Dan BURUIANA 

26.48 

37.32 

988.62 

Business environment improved but



ISSUE

FIC asks for ROL denomination postponement

The Foreign Investors Council (FIC) asks for the postponement of the introduction of hard ROL, established by the National Bank of Romania (BNR) on July 1st, 2005, because of delays in establishing the rules of conversion. Patrick Gelin, FIC Vice-president, claims that " It is a big task that needs more time and the National Bank of Romania released a bit late the rules for this operation ''. Patrick Gelin also said that " Should the postponement be impossible, we will do all that we can to prepare ourselves for July 1st ''.

Newspaper

Page

Author

Width

Height

Area

Title

BANII NOSTRI 

 

16.23 

21.81 

354.17 

ZERO's mask

BANII NOSTRI 

12 

 

29.03 

29.39 

853.43 

ZERO's mask

BANII NOSTRI 

13 

 

29.22 

34.40 

1005.65 

ZERO's mask

BANII NOSTRI 

11 

 

28.65 

35.17 

1008.21 

ZERO's mask

BANII NOSTRI 

10 

 

29.54 

34.49 

1018.93 

ZERO's mask

BUCAREST HEBDO 

par Serban GEORGESCU 

17.23 

22.99 

396.39 

FIC asks for ROL denomination postponement

SETTE GIORNI 

Serban Georgescu 

18.03 

23.33 

420.80 

FIC asks for ROL denomination postponement


   Financial News

   Romaero, net profit estimated to approximately EUR 20,000 (ROL 827 million)

  The company Romaero reported a net profit estimated to approximately EUR 20,000 (ROL 827 million) in 2004, as compared to an approximately loss of EUR 4.3 million (ROL 162 billion) in 2003. The turnover went up by 27 percent, reaching to approximately EUR 8.3 million (ROL 336 billion), according to financial data delivered by the company.
   (ZIARUL FINANCIAR 6 Alexandru Cerchez) --- Read article here

 Ductil, net profit amounting to ROL 174 billion (EUR 4.3 million)

  Ductil Buzau recorded last year a net profit amounting to ROL 174 billion (EUR 4.3 million). Considered in EUR, the company's profit is identical to the one achieved in 2003, when it reported a net profit amounting to ROL 165 billion. Last year, Ductil achieved a turnover amounting to ROL 1,144 billion (EUR 28.3 million), up by 18 percent as compared to the previous year.
  (ZIARUL FINANCIAR 7 Vlad Nicolaescu) --- Read article here

 BCR has launched a 10 years credit for personal needs

   The Romanian Commercial Bank (BCR) has launched a new credit for personal needs, in ROL, with a maximum level as the equivalent of EUR 10,000, according to a communique delivered by the institution. The credit is granted for a 10 years period, with a 18.5 percent interest/year.
  (ADEVARUL 5 (G S )) --- Read article here

 Henkel Romania, turnover amounting to ROL 2,360 billion


   " Henkel Romania '' achieved, last year, a turnover amounting to ROL 2,360 billion, that means an increase by 25 percent as compared to 2003. Currently, " Henkel Romania '' has approximately 300 employees, and its portfolio comprises around 30 brands and thousands of products.
  (BURSA 4 V B) --- Read article here

 Michelin estimates an annual increase by 20 percent

   Eurotyres, the distribution and services network in Romania for tires produced by the French company Michelin, estimates an annual increase of its turnover by 20 percent, as compared to EUR 14 million recorded in the previous year, declared, on Friday, the company's manager, Pascal Albrycht.
  (CURIERUL NATIONAL 9 Iulian Enache) --- Read article here

   Macroeconomic News

  Major financing from EBRD

  The level of investments achieved by the European Bank for Reconstruction and Development in Romania, this year, will amount to over EUR 400 million, similar to the one reported in 2004, as the foreign investments and the involvement in the privatization of companies in energetics will increase.
  (ZIARUL FINANCIAR 2 Sergiu Ion Miruna Lebedencu) ---Read article here

  The Minister of Finances, lonut Popescu, will sign today, two financing agreements with the European Bank for Investments (EBI)

  The Minister of Finances, lonut Popescu, will sign, today, two financing agreements with the European Bank for Investments (EBI) amounting to almost EUR 79 million. One of the agreements, EUR 12.5 million worth, is assigned for a Program of Infrastructure Development in small and medium sized towns, with a population up to 150,000 inhabitants. The second agreement, EUR 66.4 million worth, is assigned for the financing of the rehabilitation project in the sanitary sector.

  (ZIARUL FINANCIAR 2 Sergiu Ion Miruna Lebedencu) ---Read article here

  Strategic partnership with the World Bank, in July

  Romania and the World Bank willl conclude, in July this year, a Country Strategic Partnership for the 2005-2009 period, that wil comprise a series of programs necessary to the European accession. The prime minister Calin Popescu Tariceanu declared, yesterday, that " this is the first time when the Romanian Government is equal partner to the World Bank within talks ''.

  (BURSA 1 ) ---Read article here
  (BURSA 3 ) ---Read article here

   Investment News

  The owners of Murfatlar have bought the Biborteni mineral water

   The company Signus Romania Distribution, that is part of Euro Group, together with " Murfatlar '', " Euroavipo Posta Calnau '' and " Romdrinks Eurotrade '', acquired the bottler of Bibco Biborteni mineral water. Sources within the wine industry claim that the deal amounts to approximately EUR 1 million, as the majority shareholder, Contransimex, has debts to the Romanian state.
  (ZIARUL FINANCIAR 2 Georgiana Stavarache Stelian Negrea) ---Read article here
  (ZIARUL FINANCIAR 1 Georgiana Stavarache Stelian Negrea) ---Read article here

  Glock pistols assembled in Cugir


  A modern line for assembling 9x19 caliber pistols, of the Austrian company Glock GMBH, has been opened at the end of the last week in the Weapons Factory from Cugir, Alba. The state secretary within the Ministry of Internal Affairs, Nicolae Berechet, attended the opening and declared that the Romanian Police need at least 10,000 pistols that are to be assembled here.
  (ZIARUL FINANCIAR 2 Medlafax) ---Read article here

  " Tractorul '' to be privatized until summer

  The vicepresident of AVAS, Corin Nicolae Lunganu, declared, at the end of the last week, that there are letters of intention from several Romanian and foreign companies for taking over the company Tractorul Brasov, and that the process might be concluded by 30 June this year. " Right now there are letters of intention from two Turkish companies, two Indian holdings, a Polish group and there are few letters from Romanian companies as well '', declared Corin Nicolae Lunganu.
  (ZIARUL FINANCIAR 2 Miruna Lebedencu) ---Read article here

  Carpatica invests EUR 3.5 million in new offices, in 2005

  " Banca Comerciala Carpatica '' is to open, in March this year, seven new operational units, from which two in Bucharest. Therefore, the bank will own a number of 66 offices. This year, " Carpatica '' will invest over EUR 3.5 million for expanding its network, by opening 25 operational units, according to a communique delivered by the bank.
  (BURSA 8 C D) ---Read article here

  Yamaha network to expand in 2005 in the main cities throughout the country

  The company Motodynamics Romania, importer of Yamaha motorcycles, intends to invest over EUR 1 million this year for expanding its dealers network in all of the Romania's cities with a population of over 100,000 inhabitants. The company will spend hundreds of thousands of euro for promoting its brand in the press and in schools.
  (CURIERUL NATIONAL 9 Iulian Enache) ---Read article here

   Legislative News

   The Government might discuss today the project of modifying the Fiscal Code

    The Government might discuss, in today's meeting, the project of modifying the Fiscal Code, following the measures agreed in the negotiations with the International Monetary Fund (IMF), announced yesterday prime minister Calin Popescu Tariceanu.
   (ZIARUL FINANCIAR 2 Thomas Dinca) ---  Read article here

   Politics

  The European Commissioner for Expansion, Olli Rehn, and the president of the European Parliament, Josep Borell, in Romania

  The European Commissioner for Expansion, Olli Rehn, and the president of the European Parliament, Josep Borell, are currently in Romania for separate visits in order to assess the steps made by the Romanian Government with a view on the accession to EU. Olli Rehn voiced his optimism that Romania will take the necessary measures, including the fighting against the corruption, so that it can enter the European Union in 2007.
   (ZIARUL FINANCIAR 13 Iulian Anghel) --- Read article here

  CSAT to analyze the corruption

  President Traian Basescu is to preside today the first meeting of the Supreme Defense Council, after taking over the Romanian Presidency. The talks will center around the fighting against corruption and other forms of organized crime.
   (CURIERUL NATIONAL 11 Clarice Dinu) --- Read article here
   
   
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