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June, 2015
June 2, 2015
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June 11, 2015
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June 15, 2015
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June 26, 2015
June 29, 2015
June 30, 2015



      June 19, 2015


FIC (4)
Story of resident and student who chose not to leave Romania
The Foreign Investors Council elected new executive team
GDF SUEZ Energy Romania's CEO is new chairman of FIC board
Eric Stab takes helm of the Foreign Investors Council in Romania
Macroeconomic News (3)
Portugal could be Romanian companies' gateway to non-EU markets
MFP borrowed RON 400 million from banks
Average purchase power per EU resident up 2.5% in 2014
Financial News (3)
Volksbank loses more lawsuits
J.C. Flowers - the last hope
BNR data confirm importance of lending costs
Investment News (1)
New chain of stores built on Leonardo's remains
Legislative News (2)
President Klaus Iohannis signs personal insolvency bill
School could start and end earlier
Politics (1)
Victor Ponta makes significant changes to fortune statement
Social (2)
State bonds issue undersubscribed more than 50%
Only 0.23% of Romania's elderly receive house care

   FIC (4)

Story of resident and student who chose not to leave Romania
Around 75% of Romania's young doctors and medical students are tempted to a certain extent to work abroad, according to a survey by MedClass on a sample group of 24 people. "This year, we decided to organize the MedClass program for young students and residents who want to know more about how to become good doctors in Romania," said Barbara Cygler, coordinator of FIC's Health Work Group.

(Source: adevarul.ro; Date: 2015-06-18; Author: Unspecified)

The Foreign Investors Council elected new executive team
The Foreign Investors Council's (FIC) new board of directors elected on June 16, 2015, the three members of its executive management. The new president is Eric Stab, chairman & CEO of GDF SUEZ Energy Romania and the two vice presidents are Daniel Anghel, Tax Partner for PricewaterhouseCoopers Romania and Jean Valvis, president & general director of Valvis Holding. The new executive team will mandate until May 2016. According to FIC, the main topics Eric Stab will focus on during his mandate are: continuing the ongoing dialogue with policy makers and non-governmental stakeholders on policies that have already proved their effectiveness, encouraging further dialogue and consultations on any future policies which could have an impact on the business environment, fostering investments in sectors with high growth potential and making sure the business community contributes to Romania's macroeconomic stability and sustainable growth.

(Source: business-review.eu; Date: 2015-06-18; Author: Unspecified)
FIC has new management (Source: revistabiz.ro)
FIC elects new board (Source: 1asig.ro)
Foreign investors elect new chairman (Source: enational.ro)
Foreign investors have new boss (Source: telegrafonline.ro)

GDF SUEZ Energy Romania's CEO is new chairman of FIC board
Eric Stab, president and CEO of GDF SUEZ Energy Romania, is FIC's new chairman of the board. The board elected Stab on June 16, along with vice-chairmen Daniel Anghel (PwC) and Jean Valvis (Valvis Holding).

(Source: zf.ro; Date: 2015-06-18; Author: Unspecified)
GDF SUEZ Energy Romania's CEO is new chairman of FIC board (Source: wall-street.ro)
GDF SUEZ Energy Romania's CEO is new chairman of FIC board (Source: 9am.ro)
GDF SUEZ Energy Romania's CEO is new chairman of FIC board (Source: bizenergy.ro)
GDF SUEZ Energy Romania's CEO is new chairman of FIC board (Source: bizlawyer.ro)

Eric Stab takes helm of the Foreign Investors Council in Romania
Eric Stab, the executive who runs French group GDF Suez' operations in Romania, was elected the new president of the Foreign Investors Council (FIC), an association of the leading investors in Romania. Eric Stab has been coordinating French Group GDF Suez' operations in Eastern Europe (Romania, Austria, Czech Republic and Slovakia) since August 2008. He is also Executive Chairman of GDF Suez Energy Romania since early 2010, and in 2012 was named the company's CEO. Gas distributor GDF Suez Energy is one of Romania's top 20 companies. Last year, it had a turnover of over EUR 1 billion and a net profit of EUR 88 million. Stab has been working for GDF Suez/Gaz de France since 1991, holding various management positions in France, Germany and the UK. He holds a Master in Management degree from ESCP Europe in Paris and is a graduate of the Stanford Executive Program. Eric Stab will take over from Romanian Mihai Bogza, the chairman of Bancpost, who has been FIC's president since June 2013. Prior to that FIC had been led by Dutch banker Steven van Groningen, Raiffeisen Bank Romania's president. The FIC members also elected two new vice presidents: Romanian Daniel Anghel, tax partner with PricewaterhouseCoopers Romania, and Swiss entrepreneur Jean Valvis, president and general director of Valvis Holding.

(Source: romania-insider.com; Date: 2015-06-18; Author: Unspecified)
Eric Stab is new chairman of FIC board (Source: capital.ro)
Eric Stab, GDF SUEZ Energy Romania CEO, Appointed President Of Foreign Investors Council (Source: presaonline.com)
Eric Stab is new chairman of FIC board (Source: diacaf.com)
Eric Stab, GDF SUEZ Energy Romania CEO, Appointed President Of Foreign Investors Council (Source: zfcorporate.ro)

   Macroeconomic News (3)

Portugal could be Romanian companies' gateway to non-EU markets
Portugal must become a link between Romania's businesses and less accessible markets in Africa and South America, according to the speech held by Mihai Daraban, president of the Chamber of Commerce and Industry of Romania (CCIR), at the Romania-Portugal business forum. The event was attended by the President of Portugal, Anibal Cavaco Silva, who is on an official visit to Bucharest. While Portugal ranks 20th in the foreign investment index (EUR 245 million invested in Romania) and 18th in the Romanian exports index, it can become a gateway for Romanian companies to non-EU markets, especially in Portugal's former African and South American colonies.

(Source: zf.ro; Date: 2015-06-19; Author: Unspecified)

MFP borrowed RON 400 million from banks
The Ministry of Finance (MFP) borrowed on Thursday RON 400 million from the commercial banks through an issue of three-month T-bills bearing an average yield of 1.22% per year. The banks offered a total of RON 897.5 million. MFP has scheduled for this month tenders worth a combined RON 2.75 billion.

(Source: bursa.ro; Date: 2015-06-19; Author: Unspecified)

Average purchase power per EU resident up 2.5% in 2014
The purchase power of the average EU resident reached EUR 15,360 per year in 2014, up 2.5% from the previous year, according to a GfK survey. However, Europe is still plagued by a significant prosperity gap. While the average Norwegian has a purchasing power of EUR 30,560, the average Bulgarian hovers around EUR 3,097.

(Source: bursa.ro; Date: 2015-06-19; Author: Unspecified)

   Financial News (3)

Volksbank loses more lawsuits
Debtors have won another round of the individual cases separated by the courts from the class lawsuits launched against Volksbank. The bank was ordered to return the "risk fees and interest" arising from certain loan contracts, according to lawyer Adrian Cuculis.

(Source: bursa.ro; Date: 2015-06-19; Author: Unspecified)

J.C. Flowers - the last hope
The votes of 43% of Banca Comerciala Carpatica's shareholders, who became the majority voice with the National Bank of Romania's (BNR) help, opened the path to a slow recovery process for the financial company. All the points on the ordinary and extraordinary meetings of the shareholders were approved, except for the proposed merger with Nextebank.

(Source: bursa.ro; Date: 2015-06-19; Author: Unspecified)

BNR data confirm importance of lending costs
Commercial banks issued a total of RON 11 billion in new consumer loans between May, 2014 and April, 2015, up a third year-on-year. New housing loans amounted to RON 7.2 billion, a twofold increase year-on-year, according to data released by the National Bank of Romania (BNR).

(Source: zf.ro; Date: 2015-06-19; Author: Unspecified)

   Investment News (1)

New chain of stores built on Leonardo's remains
Some of the retail space previously used by the Leonardo chain, currently bankrupt, was acquired by a new company featuring a similar brand, logo and store design as Leonardo. Founded in 1994, the Leonardo chain of footwear stores was a market leader until 2013, when Deichmann claimed the top spot.

(Source: zf.ro; Date: 2015-06-19; Author: Unspecified)

   Legislative News (2)

President Klaus Iohannis signs personal insolvency bill
President Klaus Iohannis signed yesterday the personal insolvency bill. The bill stipulates that any individual who is unable to pay his debts can get a five-year rescheduling, according to a press release issued by the President's Office. Catalin Voivozeanu, a leader of a debtors group, dismissed the law as designed to help the banks, not the debtors.

(Source: bursa.ro; Date: 2015-06-19; Author: Unspecified)

School could start and end earlier
The National Council of Students (CNE) requested a structural modification of the 2015-2016 academic year. CNE wants school to begin on September 2, instead of September 14, and to end on June 3, instead of June 17. The proposal features a 16-week first semester beginning on September 2 and ending on December 18. The second semester would have 17 weeks.

(Source: zf.ro; Date: 2015-06-19; Author: Unspecified)

   Politics (1)

Victor Ponta makes significant changes to fortune statement
Prime Minister Victor Ponta had included in his fortune statement the Cornu villa he owns with MEP Daciana Sarbu (PSD) and donated his Baia de Fier, Gorj, holiday house. The statement was amended on June 15, only ten days after DNA prosecutors charged Ponta.

(Source: adevarul.ro; Date: 2015-06-19; Author: Unspecified)

   Social (2)

State bonds issue undersubscribed more than 50%
The issue of state bonds designed for retail investors was subscribed less than 40% yesterday, June 18. The issue closes today, at 1 PM. Investors had subscribed 38,684 bonds by the end of yesterday's business hours, worth a combined RON 38.6 million. The bonds are sold free of additional charges at BCR, BRD and Raiffeisen branch offices.

(Source: zf.ro; Date: 2015-06-19; Author: Unspecified)

Only 0.23% of Romania's elderly receive house care
Only 0.23% of Romania's elderly receive house care, even though more than 20% need it, according to statistical data presented at the National Conference of House Care Providers (CNFID). Such services are almost unheard of in rural areas and small towns.

(Source: adevarul.ro; Date: 2015-06-19; Author: Unspecified)

   
   
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