Shareholders of Upetrom 1 Mai have gathered in a General Assembly to review
the company's performance for this year. The General Assembly approved the proposal
submitted by the managers to lease some of the company's real estate property.
Upetrom 1 Mai is a manufacturer of drilling and exploitation equipment and posted
losses amounting to ROL 80 billion for the first two quarters of the year. (Romanian
source)
September was the top trading month for
the Rasdaq market
Officials of the Rasdaq electronic stock market announced that transactions
made over the course of this month amounted to ROL 164 billion. The top trading
month for the Rasdaq market was September, when foreign investors purchased ROL
905.7 billion worth of shares. (Romanian source)
Fitch Ratings upgraded the
ratings of UniCredit Romania, BCR and BRD
Financial evaluation company Fitch ratings upgraded the ratings of Romanian
banks UniCredit Romania, the Romanian Commercial Bank (BCR) and the Romanian
Development Bank (GSG-BRD). (Romanian source)
The current account deficit reached EUR 2.1 billion at the end of the first
ten months of the year 2003, up 74 per cent versus 2002. The estimated year-end
deficit will amount to 6.5 per cent of the GDP, significantly over the 4.8 per
cent limit established by Romanian authorities and the IMF. (Romanian source)
The Privatization Authority (APAPS) announced it completed on Tuesday, December
22, the privatization of nine companies as part of the PSAL I and II structural
adjustment programs. The list features UCM Resita, which was taken over by a
Swiss-Romanian consortium, Hart Miercurea Ciuc and the Faur industrial platform.
(Romanian source)
Natural gas distribution company Distrigaz Nord invested more than ROL 300 billion
this year in various projects. The Privatization Authority (APAPS) has put up
for sale the two nation-level gas distribution companies, Distrigaz Nord and
Distrigaz Sud. (Romanian source)
US company Foster Wheeler Energy Limited has struck a deal with Petrom for upgrading
one of the hydrogen production units of the Arpechim refinery. This project would
provide Petrom with the means for producing a cleaner fuel that should do better
on foreign market. (Romanian source)
UGIR 1903 members urge Government
to keep the golden share in Petrom
Members of UGIR 1903 say that the Government should maintain some sort of control
over Petrom by keeping the golden share. The industry group said that the issue
is not control over Petrom, but the best interest of the national economy. Petrom's
privatization strategy stipulates the sale of a 34 per cent stake to a strategic
investor, which would later increase its share to 51 per cent by means of a capital
increase. (Romanian source)
Miron
Mitrea says PSD would not give up on the uninominal voting system
The PSD is still promoting the idea of using the uninominal
voting system, according to statements made by vice-president Miron Mitrea. 'People
must elect people and not lists, as some politicians would want', said Mitrea.
(Romanian source)
Only one day after the release of a poll conducted by CURS,
which put the PNL-PD Alliance 1 per cent above the PSD in urban areas, the PSD
fought back by releasing a poll conducted by IMAS. The IMAS poll paints a very
different picture with PSD leading the chart with 48.2 per cent of votes, while
the Alliance comes in second with 27.1 per cent. (Romanian source)
