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2005 Archive:
 
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May, 2005
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May 30, 2005
May 31, 2005



      May 31, 2005


  FIC
No news for today
  Financial News
" Rompetrol '' shares show continuous decrease at the Bucharest Stock Exchange
The European bank for Reconstruction and Development will become involved in the upgrading of the Iasi heating system
On June 14-th, Ion Tiriac Commercial Bank's stock holders will discuss the increasing of the social capital
The Capital's City Hall will launch on June 10-th, in London, an issue of bonds worth at least 120 million EUR
ING Insurance company has reported 25 million EUR trimester income
Motoractive has increased its capital this month by 2 million EUR
  Macroeconomic News
The president of the Romanian National Patronage Union considers that the price of natural gases will increase become three times higher in one year and a few months
According to the Annual report of World Competitivity, Romania holds the 55-th spot in the top of economy competitivity
According to data supplied by NBR, non-governmental credit has increased, in April 2005, by 3,8%, to 449.495 billion ROL
  Investment News
American company " Smithfield Foods Inc. '' wants to invest in the Western part of the country
1000 jobs to be given by contest by Cora hypermarket operator
The State is auctioning 61% of the Electrica Muntenia South stocks
A 4 million EUR Volkswagen showroom has been launched in Brasov
American Company DuPont announces a wave of investments on the Romanian market
  Legislative News
No news for today
  Politics
Former National Liberal Party leader, Valeriu Stoica, is worried about the political future of the formation that he is a part of
According to the " Public Opinion Barometer '', more than half of Romanians are unhappy with the Government's activity

   Financial News

  " Rompetrol '' shares show continuous decrease at the Bucharest Stock Exchange

  " Rompetrol '' stocks were once more put up for trading yesterday. Due to recent events concerning the " Rompetrol '' company and its management, company stocks have recorded a drop of 13,07%. Razvan Rasol, general manager of " Intercapital Invest '', stated that " Rompetrol '' stocks have great market potential. However, this potential is only available on a medium and long term and can only be capitalized upon after the settling of the current situation. (Romanian source)
  (BURSA 1 ) --- Read article here
  (BURSA 7 ) --- Read article here

 The European bank for Reconstruction and Development will become involved in the upgrading of the Iasi heating system

 The rehabilitation project for the Iasi heating system had an initial estimated value of 25 million EUR, but, after later calculations, authorities reached the conclusion that additional funds are needed. After the first evaluation of the project, it was agreed upon that 15 million EUR would be received from an EBRD loan, 7 million EUR would be obtained from a non-refundable fund offered by the Swiss Government, and 3 million EUR would become the responsibility of local authorities. The feasibility study was carried out by experts from the Swiss Electrowatt Ekono consultancy firm, assisted by representatives of the Romanian Enivest SA company. (Romanian source)
   (BURSA 12 Doru Mocanu) --- Read article here

 On June 14-th, Ion Tiriac Commercial Bank's stock holders will discuss the increasing of the social capital

   Ion Tiriac Commercial Bank's stock holders will gather in order to discuss the increasing of the social capital by 540 billion ROL. According to the caller of the General Stock holders' Meeting, this will be done by including the reserves. At the moment, the bank has a capital of 1305 billion ROL, 92% of which is owned by Ion Tiriac. The division of the net profit recorded in 2004 will also be discussed in the same meeting. (Romanian source)
  (ZIARUL FINANCIAR 3 Adrian Dumitrache) --- Read article here

 The Capital's City Hall will launch on June 10-th, in London, an issue of bonds worth at least 120 million EUR

   The Capital's City Hall will launch on June 10-th, in London, an issue of bonds worth at least 120 million EUR. An interest rate of 4,83-4,86% is estimated for these bonds. The Mayor, Adriean Videanu, declared yesterday, May 31-st, that the value of the issue could go as high as the maximum value set by the Ministry of Finance. The funds obtained by the City Hall will be used in the infrastructure. (Romanian source)
  (ZIARUL FINANCIAR 3 ) --- Read article here

 ING Insurance company has reported 25 million EUR trimester income

   The ING Life Insurance company has subscribed 25 million EUR for the first trimester of this year, 38% higher than the same period last year. ING Life Insurance was founded in 1997 and currently has 68 branches in 63 cities (Romanian source)
  (ZIARUL FINANCIAR 4 Ioana Leaua) --- Read article here

 Motoractive has increased its capital this month by 2 million EUR

   The Motoractive leasing company has increased its capital this month by 2 million EUR, total own capitals thus reaching 11,3 million EUR. Since the beginning of last year, when the social capital was only 1,9 million EUR, the company has operated several increases. Founded in 1998, the company is a subsidiary of the Lesemart Holding BV group (Holland). (Romanian source)
  (ZIARUL FINANCIAR 6 E Steliana Simionca) --- Read article here

   Macroeconomic News

  The president of the Romanian National Patronage Union considers that the price of natural gases will increase become three times higher in one year and a few months

  Marian Petre Milut, president of the Romanian National Patronage Union considers that the price of natural gases will increase from 60 dollars at the end of last year, to 170 dollars at the beginning of 2007. The increase will take place every trimester. A price of 105 dollars per one thousand cubic meters is scheduled for the 1-st of October 2005, and at this rate the price of 120 dollars will be reached in just a few months. All of these tariffs refer to the internal production, and if the cost price of import natural gases is added to these figures, the tariffs could reach the consumers at much higher levels. (Romanian source)
  (BURSA 4 ) --- Read article here

  According to the Annual report of World Competitivity, Romania holds the 55-th spot in the top of economy competitivity

  Our country holds the 55-th position in the top of economic competitivity, according to the Annual Report of World Competitivity. Romania is followed by Mexico, Poland, Argentina, Indonesia and Venezuela. The country is following a descending trend, going from the 51-st spot in 2003 to the 54-th spot in 2004 and 55-th in 2005. The classification is made by the World Competitivity Center of the Development Management Institute and analyzes the competitivity of 60 economies (51 countries and 9 regions). (Romanian source)
  (BURSA 10 Virginia Balcu) --- Read article here

  According to data supplied by NBR, non-governmental credit has increased, in April 2005, by 3,8%, to 449.495 billion ROL

  According to data supplied by NBR, non-governmental credit has increased, in April 2005, by 3,8%, to 449.495 billion ROL, as a consequence to the 4,7% increase of the ROL component and the 3,3% increase of the foreign currency component. The money mass, in a more restrictive respect, has gone up by 5,9%, to 163.757 billion ROL. On April 30-th, the population's savings have recorded a 38,8% increase compared to the similar period of 2005. (Romanian source)
  (BURSA 8 Alexa Trandafir) --- Read article here

   Investment News

  American company " Smithfield Foods Inc. '' wants to invest in the Western part of the country

  American company " Smithfield Foods Inc. '', the biggest pork meat processor world-wide, has expressed its intention to open 100 pig farms in the Arad county. The company wants to invest over 800 million dollars in sow farms and swine fattening farms. The main nucleus of the American company will be in the counties of Arad, Timis and Bihor. (Romanian source)
  (BURSA 4 Paula Bulzan) --- Read article here

  1000 jobs to be given by contest by Cora hypermarket operator


  For the opening this fall of the second Bucharest hypermarket, Cora launched a wide personnel recruiting campaign. Just like with the launch of the first store, the objective is to hire a team of 1000 people. The Cora Lujerului management team is made up mostly of Romanian managers, and each of the department managers will build his own team. Store networks will be some of the biggest employers on the Romanian market in the next few years. (Romanian source)
  (ZIARUL FINANCIAR 1 lonut Bonoiu) --- Read article here

  The State is auctioning 61% of the Electrica Muntenia South stocks

 Sources in the Ministry of Economy declare in the " Ziarul Financiar '' news paper that the state will auction 40% of the stocks of Electrica Muntenia South. The buyer will eventually come to own 61% of the stocks by capital increase. The companies that have announced their intention to take part in the privatization of Electrica Muntenia South so far are Enel (Italy), CEZ (The Czech Republic), RWE (Germany) and Electricite de France (France). (Romanian source)
  (ZIARUL FINANCIAR 3 ) --- Read article here

  A 4 million EUR Volkswagen showroom has been launched in Brasov

  The Tess company, Volkswagen dealer, has opened a new showroom in Brasov, an investment that has reached the value of 4 million dollars. This is part of a 20.000 square meter complex. The showroom is the second biggest in the country, preceded by Porsche Bucharest North dealer's showroom. The company from Brasov intends to open another such complex in Sibiu, a project for which 3 million EUR have been allocated. (Romanian source)
  (ZIARUL FINANCIAR 6 ) --- Read article here

  American Company DuPont announces a wave of investments on the Romanian market

  American giant DuPont is preparing to invest in Romania, in the field of Constructions and pesticide. A first step in this direction is the opening of a branch in our country. So far, the company has had the biggest investment in our country, worth 26 million dollars, in the extending of the production capacity of the Pioneer Romania seeds factory. (Romanian source)
  (ZIARUL FINANCIAR 7 Stelian Negrea) --- Read article here

   Politics

  Former National Liberal Party leader, Valeriu Stoica, is worried about the political future of the formation that he is a part of

  Valeriu Stoica, former leader of the NLP, strongly criticizes the " mistakes '' made by his party in the last period. The solution suggested by the politician in order to set his party back on course is the formation of a center-right pole, a suggestion first made last year. According to his statement, NLP " is running the risk of becoming a minor party caught between two major political blocks ''. (Romanian source)
   (BURSA 3 George Banciulea) --- Read article here
   (BURSA 1 George Banciulea) --- Read article here

  According to the " Public Opinion Barometer '', more than half of Romanians are unhappy with the Government's activity

  The Foundation for an Open Society (FOS) made public yesterday, May 30-th 2005, a poll called the " Public Opinion Barometer ''. According to this poll, 60% of the population think that the economic situation hasn't changed under the current leadership. Regarding corruption, 79% consider that this phenomenon is spread " on all levels ''. Compared to the eurobarometer from the Fall of 2004, Romanian's trust in the European union has gone down significantly, from 74% to 49%. The direction in which things in Romania are going is, according to 44% of the population, a good one, while 43% consider it wrong. (Romanian source)
   (BURSA 3 ) --- Read article here
   
   
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