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2005 Archive:
 
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September, 2005
September 1, 2005
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September 5, 2005
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September 8, 2005
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September 12, 2005
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September 14, 2005
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September 26, 2005
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September 29, 2005
September 30, 2005



      September 30, 2005


  FIC
No News for today 
  Financial News
10% in Transgaz will be listed on the stock exchange
Stock market operators are interested in Rompetrol shares
Fitch confirmed BancPost's ratings
Banca Romaneasca cut interests on RON loans for natural persons
ING Bank cut interests on the " Avantaj Plus '' mortgage loan
Bega Minerale Industriale, a strong company in the quartz extraction and processing industry
Media Image, Mediafax and Alfa Cont, the main Romanian press monitoring companies
  Macroeconomic News
The Tax Code might be changes without discussing it with owners associations and trade unions
Tighter rules for giving social help
Guarantees are offered to medicine producers, suppliers and pharmacists, on receiving their overdue money by October 1st 2005
CNIPMMR asks for the excise on oil products to be brought to the EU level
The commercial deficit in the January - August 2005 period was EUR 5.8 million
Mineral products exports increased by 117%
  Investment News
Money from IBRD for restructuring transportation
EBRD might lend EUR 50 million to BCR
Visa International wants to expand its activities
35 Romanian projects were sponsored by the ISPA program
2 new MOL gas stations in Bucharest
  Legislative News
The mortgage loan laws were approved by the Senate's Budget and Finances Committee
One more round of debates on the Senate Regulations
  Politics
The law on sponsoring politic parties might be modified
Romania takes over presidency of the UN's Security Council

 

   Financial News

  10% in Transgaz will be listed on the stock exchange

   Transgaz will list 10% in its equity on the stock exchange, as announced by Marin Dumitru, manager of the company. Transgaz will organize an auction for giving the contract of intermediating this operation. The company will announce the winner on November 2nd. At this moment, Transgaz shares are owned by the Romanian State, by the Ministry of Economy and Trade.
   (BURSA 7 Andreea Negru) --- Read article here

 Stock market operators are interested in Rompetrol shares

   On September 29th, stock market operators traded Rompetrol Rafinare (RRC) shares at an average price of RON 0.114. Marcel Mugoci, Estinvest Focsani trading manager, stated that " RRC shares remain one of the most speculative ones, but also one with the most interesting evolutions. '' Mugoci also stated that investors are used to the possible hearings of Rompetrol's managers and that the company's results come first in making the decision to buy its shares.
   (BURSA 5 Andreea Negru) --- Read article here

 Fitch confirmed BancPost's ratings

   On Thursday, September 29th, Fitch financial evaluation agency confirmed the ratings given to BancPost for the long-term to " BBB minus '', for the short-term at " F3 '', for support at " 2 '' and individual at " D '', with stable perspective for the long-term rating. According to a press release issued by Fitch, the long-term, short-term and support ratings reflect the support that can be received by BancPost from its majority shareholder, Greece-based EFG Eurobank Ergasias, but are constrained by Romania's " BBB minus '' outlook.
  (ZIARUL FINANCIAR 4 Razvan Voican) --- Read article here

  Banca Romaneasca cut interests on RON loans for natural persons

  Banca Romaneasca cut interests on RON loans for natural persons and increased the flexibility of crediting terms. The bank takes into consideration, nest to wages and pensions, all types of income that can be justified with legal documents: rents, dividends, daily allowances, revenues from cooperation contracts etc. The reimbursement period was expanded to 30 years. The client may choose a fixed interest of 10.95% for the first 5 years, or a variable one, of 13.95%.
  (CURIERUL NATIONAL 5 lonut Tudorica) --- Read article here

  ING Bank cut interests on the " Avantaj Plus '' mortgage loan

  ING Bank cut interests on the " Avantaj Plus '' mortgage loan by 0.5 percentage points, down to 9.25% per year, fixed installments for the first 2 years of reimbursement. he bank was one of the first crediting institutions that lowered interests on RON housing loans below 10%, by a formula that sets a fixed level for at least 2 years. After this period, ING reserves the right to modify the annual installment according to the market conditions.
  (AVEREA 4 ) --- Read article here

  Bega Minerale Industriale, a strong company in the quartz extraction and processing industry

  Bega Minerale Industriale is active in the quartz, kaolin, clay etc. extraction and processing industry. The company's clear profit on 2004 amounted to RON 2,390,000. Its advantages are: independence in its relation to raw materials suppliers, trained labor force, securing a retail market by the contracts signed with its traditional partners.
  (BURSA 9 Aristica Branzan) --- Read article here

  Media Image, Mediafax and Alfa Cont, the main Romanian press monitoring companies

  At this moment, the Romanian press monitoring market is in full expansion. Mediafax is the first agency of this kind that appeared on the Romanian market after 1989, being established in 1991. In 1999, the monitoring services market registered a new player, Alfa Cont. As for Media Image, it was established in January 1999, as reply to the more pressing signals coming from the public relations market. Media Image provides journalistic and advertising monitoring services, as well as analysis services and media surveys. Miron Mateescu, Sales Manager with Media Image, says that this business was started from ground zero, the only investment at that time being the will and time of the people involved. Media Image Group has not yet ended the investments stage, " in order to keep up with the increasing and more specialized demands of its clients ''.
  (ZIARUL FINANCIAR 9 Raluca Teodorescu) --- Read article here

   Macroeconomic News

 The Tax Code might be changes without discussing it with owners associations and trade unions


  In the past year, the Ministry of Finances operated 4 changes to the Tax Code. Publishing on the Ministry's official website of the latest changes planned on the Tax Code without being previously debated with the social partners has given birth to deep discontents from the representatives of Romanian owners associations and trade unions.

   (BURSA 9 Valentin Roman) --- Read article here
   (BURSA 1 Valentin Roman) --- Read article here

 Tighter rules for giving social help


   In yesterday's session, the Executive decided that the law on the minimum guaranteed income is to be modified, so that social help will be granted on more detailed analysis. Gheorghe Barbu, minister of Labor, stated that the changes to be brought target guaranteeing social allowances being paid, turning to good use the community service hours, simplifying income testing procedures, tighter monitoring and reglementation of giving social allowances.

  (BURSA 3 Catalin Oprea) --- Read article here

 Guarantees are offered to medicine producers, suppliers and pharmacists, on receiving their overdue money by October 1st 2005


   Guarantees are offered to medicine producers, suppliers and pharmacists, on receiving their overdue money by October 1st 2005. The Government issued today an emergency ordinance which stipulates opening a funding line worth ROL 8,000 billion, with no bank interests or commissions. It becomes operational after being published in the Official Gazette. Eugen Nicolaescu, minister of Health, stated that negotiations are being carries with 2 banks, while the interests are to be negotiated with CNAS. The payment methods will be drawn up by October 15th.

  (BURSA 3 ) --- Read article here

 CNIPMMR asks for the excise on oil products to be brought to the EU level


   Ovisiu Nicolaecu, president of CNIPMMR, stated that the State should bring the excises on oil products to the EU level. AT this moment, the price of oil products on the Romanian market is similar to the one in the EU, in the terms in which the excises are only 50% in the European level. Nicolaescu said: " It is not normal for the couple of companies in this industry to cash the difference, posting huge profits, while the rest of the companies have to pay the price ''.

  (CURENTUL 6 Petre Porea) --- Read article here

 The commercial deficit in the January - August 2005 period was EUR 5.8 million


   According to the National Statistics Bureau, Romania's commercial deficit in the January - August 2005 period was EUR 5.8 million. 25% in it - EUR 1.5 billion - was generated by mineral products trading: crude, oil products, ore, coal, cement etc. The exports registered by this branch amounted to EUR 1.67 billion, while imports were worth EUR 3.2 billion.

  (BURSA 1 Andreea Rachieru) --- Read article here
  (BURSA 4 Andreea Rachieru) --- Read article here

 Mineral products exports increased by 117%n


   According to the National Statistics Bureau, mineral products exports registered the largest increase in the first 8 months of 2005 from the similar period of last year. The " free on board '' value of mineral products exports was EUR 16,757 billion, 117% up from the first 8 months of 2004. These exports consisted in crude, oil products, ore, coal etc.

  (CURIERUL NATIONAL 4 Iulian Enache) --- Read article here

   Investment News

 Money from IBRD for restructuring transportation

  IBRD gave a loan to the National Highway and National Roads Company (CNADNR), for sponsoring the necessary advisory services for restructuring transportation. The Romanian Government will also contribute to sponsoring the contract.
  (BURSA 12 Emilia Olescu) --- Read article here

  EBRD might lend EUR 50 million to BCR


  On November 15th, EBRD will discuss giving an EUR 50 million loan to BCR for funding mortgage loans for natural persons. This EBRD crediting line, to be divided into 3 parts, is the 2nd project of this kind ran by the international financial institution and BCR, after the one signed in January 2003.
  (BURSA 8 (A S )) --- Read article here

  Visa International wants to expand its activities

  Catalin Cretu, Regional Manager for Romania and Bulgaria with Visa International CEMEA, stated that the degree of using Visa cards at retailers increased by 27% in the 2nd quarter of 2005 from the similar period of 2004. This in the terms in which the number of cards issued reached 3.1 million, with a total number of transactions of 53.8 million, 24% more than in Q2 2004.
  (ECONOMISTUL 5 ) --- Read article here

  35 Romanian projects were sponsored by the ISPA program

  The EU sponsored 35 Romanian projects, worth a total of EUR 1,200 million, by the ISPA program, in the 2000-2004 period, as stated by Sulfina Barbu, minister of Environment and Waters Management. 30 of the projects targeted investment: 25 in the water segment and 5 in the wastes one.
  (ECONOMISTUL 2 ) --- Read article here

  2 new MOL gas stations in Bucharest

  MOL opened 2 new gas stations in Bucharest: on DN 1, at km13, and on Corneliu Coposu Blvd., in Sector 4. MOL is one of the main companies on the Central and Eastern European gas and oil market, as stated by Karoly Robak, CEO of the Romanian branch. So far, MOL invested EUR 150 million in the Romanian market.
  (JURNALUL NATIONAL 31 ) --- Read article here

   Legislative News

   The mortgage loan laws were approved by the Senate's Budget and Finances Committee

  Varujan Vosganian, president of the Senate's Budget, Banks and Finances Committee, signed yesterday, September 29th, the favorable report on the law package on the mortgage loan. This packages includes: the law project on mortgage loan banks (L399/2005), the law project on mortgage bonds (L400/2005), the law project on changing and completing Law No. 190/1999 on mortgage loans for real estate investments (L401/2005) and the law project on the security of creances (L450/2005).
  (BURSA 3 Alina Toma) ---  Read article here

   One more round of debates on the Senate Regulations

  Yesterday, September 29th, the plenary session of the Senate debated, on articles, the new Regulations of the higher chamber, managing to adopt 7 more of the 202 articles. The harshest disputes were linked to the amendment on electing the Permanent Bureau. PRM and PSD Senators stated that, according to the Constitution, the president and the Permanent Bureau are to be elected differently, while the version of the Special Committee for modifying and completing the Senate's Regulations was stipulating the election of the Bureau alone.
  (BURSA 3 Catalin Oprea) ---  Read article here

   Politics

 The law on sponsoring politic parties might be modified

  The Public Policies Institute (IPP) subjected to public debate aspects related to the opportunity of some law changes on sponsoring politic parties, by organizing a seminar on this issue on September 29th. Adrian Moraru, coordinator of the program, presented a couple of change proposals, the most important of them referring to the algorithm of allotting the State subsidy, so that the results on the local elections is to be taken into consideration in introducing a compensation fund system for donations.
   (BURSA 3 (Catalin Oprea)) --- Read article here

 Romania takes over presidency of the UN's Security Council

  On October 1st 2005, Romania takes over presidency of the UN's Security Council. Mihai-Razvan Ungureanu, minister of Foreign Affairs, says this is merely an honorific title, underlining the fact that approaching this task with responsibility will make our country more visible on the international level.
   (BURSA 3 (C O )) --- Read article here
   
   
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