Monday, February 21, the Foreign Investors Council (FIC)
is to launch the 2005 edition of the White Book that will
comprise recommendations for improving the Romanian business
environment. Ruxandra Bandila, FIC's executive director,
stated that " should the Romanian government follow FIC's
recommendations, Romania will become more attractive to foreign
investors, and the immediate consequence will be an increase
in foreign investment in Romania ''. FIC, an association
of major investors in Romania, has 95 members whose total
investments amount to over EUR 8 billion. FIC continues to
be concerned by the labor market's lack of flexibility and
insists on the modification of the Labor Code. (Romanian
" Electroaparataj '' Bucharest recorded a turnover amounting to ROL
586.87 billion, in 2004, up by 10.4 percent as compared to the previous year,
according to statements made by Ovidiu Petre, company's financial manager.
National Bank of Romania bought over EUR 520 million from the interbanking
foreign currencies market
According to statements made by Mugur Isarescu, NBR governor, the
National Bank of Romania bought over EUR 520 million from the interbanking foreign
currencies market, in the first two days of this week. The result was the depreciation
of the national currency, the intervention being an experiment to check the market's
Babiuc to replace George Cojocaru as head of the Chamber of Commerce
George Cojocaru, president of the Chamber of Commerce and Industry
of Romania and Bucharest, resigned on Wednesday from this position, after 15
years of activity. He is to be replaced by Victor Babiuc.
Group '' - net profit amounting to approximately EUR 6 billion, in 2004
" ING Group '' achieved, in 2004, an operational profit amounting
to EUR 5.4 billion, up by 33 percent as compared to 2003. The net profit per
stock amounted to EUR 2.8, up by 40 percent. Last year, the total net profit
increased by 47.6 percent, reaching to EUR 5.97 billion.
'' wants gross profit amounting to ROL 80 billion
According to statements made by Dan Caprioara, company's general
manager, " Elpreco '' wants to achieve a turnover amounting to over ROL 750 billion
and a gross profit amounting to ROL 80 million, in 2005. Moreover, " Elpreco
'' will increase its exploitation profits by at least 10 percent.
Holding's turnover down by over 180 percent in 2004
" Grupul IATSA '' Pitesti recorded, at the end of 2003, a turnover
amounting to ROL 160.35 million, up by 183.5 percent as compared to the same
period of 2004. Last year, the company obtained total incomes amounting to ROL
84.29 billion, as compared to ROL 216.64 billion in 2003. The total expenditures
lowered from ROL 211.22 billion to ROL 77.06 billion. However, the gross profit
increased by 33.45 percent and the net profit estimated for 2004 amounts to ROL
6.02 billion, up by 32.89 percent as compared to 2003.
'' Vaslui - turnover amounting to ROL 433.86 billion in 2004
" Vastex '' Vaslui recorded at the end of 2004 a turnover amounting
to ROL 433.86 billion, up by 21 percent as compared to 2003. The total expenditures
in 2004 amounted to ROL 411.85 billion, down by ROL 64.23 billion as compared
to 2003. The gross income went up by 91.46 percent, from ROL 27.07 billion to
ROL 51.83 billion.
The net profit estimated by " lasitex '' Iasi for 2004 amounts to
ROL 54.05 billion, down by 131.32 percent as compared to 2003. The total incomes
increased from ROL 660.85 billion to ROL 672.7 billion, while the total expenditures
increased from ROL 522.03 billion to ROL 600.51 billion.
IAR Ghimbav reported a turnover down by 27 percent in 2004 as compared
to 2003, to EUR 23.5 million (ROL 951 billion).The estimated net profit for 2004
amounts to EUR 2.4 million (ROL 98.5 billion), down as compared to EUR 3.2 million
- turnover amounting to EUR 116 million in 2004
Silcotub achieved in 2004 a turnover amounting to EUR 116 million,
up by 46.3 percent as compared to the previous year. Silcotub's exploitations
expenditures amounted to EUR 115 million, up by 40.6 percent as compared to 2003.
The expenditures with raw materials recorded a 43.8 percent growth, reaching
EUR 73 million.
Brasov - sales amounting to EUR 33.5 million
The company Rulmentul Brasov recorded in 2004, sales amounting to
EUR 33.5 million (ROL 1,354 billion), up by 5 percent as compared to 2003. The
majority shareholder of the company is the Romanian state, through AVAS, that
controls 50.9 percent of the company's shares.
Sistems has become IBM authorized distributor
The company Trnado Sistems signed, at the beginning of this year,
the partnership with IBM Romania for the distribution of IBM notebooks, desktops,
servers and videoprojectors, CRT and LCD displays. By signing this agreement,
Tornado Sistems, and its partners throughout the country, will offer the IBM
technology to SMEs, major companies as well as to final users.
The telecommunications operator RomTelecom is to launch, at the beginning
of July, an invoicing system at national level that will allow RomTelecom " to
do most of the things mobile operators do '', declared Dan Pazara, company's
foreign relations director.
The Romanian company Sindan, one of the most important producers
of oncological pharmaceutics in Central and Eastern Europe concluded a partnership
with the American company Eli Lilly, that stipulates the production in Romania
of the Gemzar.
The Hungarian company Nivelco announced its intention to open a branch
in Romania, in Cluj-Napoca, following an investment estimated to EUR 200,000.
The Hungarian holding, with a turnover amounting to over EUR 8 million in 2004,
is present in Romania since 2000 by the agency of the company Electro-otal from
between Emil Boc, Adriean Videanu and Vasile Blaga for the PD presidency
President Traian Basescu has declared that for the PD presidency
there will be " an open competition between Emil Boc, Adriean Videanu and, maybe,
Vasile Blaga ''. Emil Boc is currently interim president, while Adriean Videanu
and Vasile Blaga are two of the most influent PD vice-presidents.
dispute between the president of the Senate, Nicolae Vacaroiu, and vice-president
The appointment of a new general secretary of the Senate has stirred
a political dispute between the president of the Senate, Nicolae Vacaroiu, and
vice-president Radu Berceanu. The PNL-PD Alliance supports Dan Vasiliu, vice-president
of the Senate, for this position, while PSD proposed Constanta Calinoiu, head
of the Justice department within the Senate.