The chain of ATMs and points of sales operated by BRD-Groupe Societe Generale will be shut down on the evening of Sunday, February 6, for maintenance work scheduled to last until Monday morning, at 10 AM. All transactions with BRD cards will be suspended for the duration of this operation. BRD has 2.2 million valid cards and a chain of 1,500 ATMs and 24,000 POS. (Romanian Source)
BRD Sogelease offers leasing contracts with the option to extend the warranty of a car's mechanical and electric systems. The company offers to cover the cost of repairs in case of mechanical or electric malfunctions after the expiry of the warranty provided by the manufacturer. This warranty extension helps customers by eliminating certain unforeseen expenses. (Romanian Source)
The operational leasing market has grown by 17% over the course of 2011, compared to the corresponding period of the previous year, reaching 37,397 units, compared to 31,923 units at the end of 2010. Market experts expect a 15% growth rate for this year, which would bring the number of units close to 43,000 at the end of 2012. Data centralized by the Association of Operational Leasing Companies (ASLO) show that the top five players are ALD Automotive (18% market share), LeasePlan Romania (17% market share), Porsche Mobility (16%), Arval Service Lease Romania (12%) and FMS (6%). (Romanian Source)
The overnight rates fell yesterday, February 2, compared to the previous session. The National Bank of Romania (BNR) posted in the first half of a day an average ROBID rate of 3.20% per year. (Romanian Source)
The National Bank of Romania (BNR) cut yesterday the reference interest rate by 0.25%, bringing it down to 5.5%. Although this is the second cutting of the reference rate this year, the banks seem to be in no hurry to follow BNR's example and decrease the cost of lending. Banca Transilvania, ATE Bank, Piraeus Bank Romania and Millennium Bank are still paying 7% on twelve-month RON-denominated deposits. On the other hand, BRD, OTP Bank and UniCredit Tiriac Bank boast interest rates below the reference rate. (Romanian Source)
Romania managed to attract EUR 11.9 billion worth of European funds
The Ministry of European Affairs, the Ministry of Foreign Affairs and the local representative of the European Commission organized yesterday a seminar dedicated to the fifth anniversary of Romania's accession to the EU. Prime Minister Emil Boc stated during the seminar that Romania has failed to deregulate its labor market and to make full use of foreign investment. However, Romania has managed to attract EUR 11.9 billion worth of European funds. (Romanian Source)
Truckers criticize railroad public service contracts
The road transport company have criticized the approval by the Government of the public service contracts for the railroad-based transport of passengers between 2012 and 2015. The truckers accused the Government of discriminating in favor of the railroad companies by subsidizing the four big companies created after the deregulation of this sector. The contracts were signed with CFR Calatori, Regiotrans SRL, Regional SRL, Servtrans Invest SA and Transferoviar Calatori SRL and the Government maintained that the contracts would have a major positive impact on the rehabilitation of the national rolling stock. (Romanian Source)
Ministry of Finance borrows RON 1.3 billion from commercial banks
The Ministry of Finance borrowed on Thursday, February 2, more than RON 1.3 billion from the commercial banks, RON 554.4 million above the scheduled value of the tender, through an issue of benchmark bonds that mature in October, 2014. The bonds were sold through the National Bank of Romania (BNR). The average yield was 6.79% and the aggregated demand from the 12 banks that sent in bids was approximately RON 2.7 billion. (Romanian Source)
BNR's foreign currency reserves fell EUR 497 million in January
The foreign currency reserves of the National Bank of Romania (BNR) fell by EUR 497 million in January, down to EUR 32.6 billion, following the outflow of EUR 1.4 billion through the payment of installments and interest on the public debt. The inflows amounted to EUR 955 million. The gold reserve remained at 103.7 tons, worth EUR 4.3 billion at the current price of gold. (Romanian Source)
Lufkin Industries will produce equipment for the oil industry in Prahova
Lufkin Industries, a company specializing in the production of oil equipment and energy distribution, will open a production unit in Romania. The unit will become fully operational during Q4/2012, company representatives stated. The unit will produce equipment for the oil industry and it will offer maintenance for Prahova County. (Romanian Source)
Romgaz announces investments of EUR 135 million by 2015 in order to increase its storage and extraction capacity
Each day of freeze brings new consumption and import records on the market of natural gas. The peak was reported on February 1, when Romaniaa used 72.7 million metric cubes, compared to the USD 71.5 million reported during the previous day, 19.1 million of which came from imports. Romgaz announced a new plan which aims to increase storage capacity up to 3 million metric cubes between 2012 and 2015. The budget dedicated to this investment, but also to the increase of the extraction capacity, reaches EUR 135 million. (Romanian Source)
Foreign investors Bosch and De'Longhi obtained state aid from the Romanian Government for the investment projects which would be implemented in the Cluj county. Prime Minister Emil Boc assured the representatives of the two companies that the Government would support their efforts. Bosch is one of the biggest international suppliers of car parts and one of the main suppliers of the Dacia plant in Mioveni. (Romanian Source)
Necsulescu family to invest EUR 10 million in Jidvei
Jidvei, one of the biggest Romanian producers of wine, will spend EUR 10.7 million this year on a series of projects. The projects include the replanting of some vineyards, the installation of vine support system, the acquisition of machinery and irrigations. On the retail side, the company wants to open a wine shop and a restaurant in Jidvei, Alba county, and a grape processing unit in Tauni. The company will fund these projects partly with money obtained from the European Union. (Romanian Source)
Vasile Blaga summoned PD-L senators to informal meeting
Vasile Blaga summoned on Wednesday evening the PD-L senators to an informal meeting held in the party's caucus room. The meeting was prompted by the resignation of senator Mircea Banias from the party in order to go over to the opposition by joining the Conservative Party (PC). The senators urged Prime Minister Emil Boc to attend their meeting, but this did not happen. Banias' resignation is a blow to the ruling coalition, which holds now only 67 seats in the Senate. 68 votes are required to pass organic laws. (Romanian Source)
President Traian Basescu voices support for Prime Minister Boc
While some of the big names of the Democratic-Liberal Party (PD-L) hint that Prime Minister Emil Boc should step down because he does not have solutions to the country's difficult situation, President Traian Basescu stepped in and voiced his support for the embattled PM. The President announced yesterday that Boc would remain his partner in the attempt to do what needs to be done. The list of PD-L leaders who called for a change of Prime Minister includes Vasile Blaga, Elena Udrea, Cezar Preda, Raluca Turcan and Cristian Preda. (Romanian Source)
The Magyar Civic Party (PCM) announced the organization of a protest in Targu Mures, in front of the house occupied by Deputy Prime Minister Marko Bela. The purpose of this action was to criticize the Democratic Union of Romanian Magyars (UDMR) for not following the example of the Hungarian Government, " which had taken steps to protect the population ''. The PCM blames the UDMR for the slashing of salaries and pensions and the higher VAT. (Romanian Source)
