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2005 Archive:
 
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February, 2005
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      February 18, 2005


  FIC

FIC to launch the " White Book - Immediate solutions for increasing the foreign investments in Romania ''

  Financial News

" Electroaparataj '' turnover - up by 10 percent

The National Bank of Romania bought over EUR 520 million from the interbanking foreign currencies market

Victor Babiuc to replace George Cojocaru as head of the Chamber of Commerce

" ING Group '' - net profit amounting to approximately EUR 6 billion, in 2004

" Elpreco '' wants gross profit amounting to ROL 80 billion

IATSA Holding's turnover down by over 180 percent in 2004

" Vastex '' Vaslui - turnover amounting to ROL 433.86 billion in 2004

lasitex - profit down by 131.32 percent

IAR Ghimbav - turnover down by 27 percent in 2004

Silcotub - turnover amounting to EUR 116 million in 2004

Rulmentul Brasov - sales amounting to EUR 33.5 million

  Macroeconomic News
• No news for today 
  Investment News

Tornado Sistems has become IBM authorized distributor

RomTelecom to change its strategy

Sindan to produce for the giant Eli Lilly

Nivelco to open a branch in Romania

  Legislative News
No news for today
  Politics

Competition between Emil Boc, Adriean Videanu and Vasile Blaga for the PD presidency

Political dispute between the president of the Senate, Nicolae Vacaroiu, and vice-president Radu Berceanu


   FIC

ISSUE FIC to launch the " White Book - Short-term solutions for increasing the foreign investments in Romania ''
On 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 source)
Newspaper
Page Author Width Height Area Title
ECONOMISTUL  AI RIZEA  10.09  14.93  150.73  Immediate  solutions for increasing foreign investment in Romania

   Financial News

   " Electroaparataj '' turnover - up by 10 percent

  " 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.
  (BURSA 1 ) --- Read article here
  (BURSA 5 ) --- Read article here

   The 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 reaction.
  (BURSA 1 Costi Dobrea) --- Read article here

   Victor 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.
  (BURSA 1 Darius Porumboiu) ---  Read article here

   " ING 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.
  (BURSA 8 C D) --- Read article here

   " Elpreco '' 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.
  (BURSA 9 Aristica Branzan) --- Read article here

   IATSA 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.
  (BURSA 9 A B) --- Read article here

   " Vastex '' 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.
  (BURSA 9 Andrada Busuioc) --- Read article here

   Iasitex - profit down by 131.32 percent

  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.
   (BURSA 9 A B) --- Read article here

   IAR Ghimbav - turnover down by 27 percent in 2004

  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 in 2003.
  (ZIARUL FINANCIAR 6 Alexandru Cerchez) --- Read article here

   Silcotub - 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.
  (ZIARUL FINANCIAR 7 Vlad Nicolaescu) --- Read article here

   Rulmentul 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.
  (ZIARUL FINANCIAR 6 Alexandru Cerchez) --- Read article here

   Investment News

   Tornado 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.
  (BURSA 4 D R) ---  Read article here

   RomTelecom to change its strategy

  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.
  (ZIARUL FINANCIAR 1 Mihai Musatoiu) ---  Read article here

   Sindan to produce for the giant Eli Lilly

  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.
  (ZIARUL FINANCIAR 3 Alexandru Cerchez Miruna Lebedencu) ---  Read article here

   Nivelco to open a branch in Romania

  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 Bucharest.
  (ZIARUL FINANCIAR 7 Dana Ciriperu) ---  Read article here

   Politics

  Competition 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.
  (ZIARUL FINANCIAR 9 Mirela Luca) ---  Read article here

   Political dispute between the president of the Senate, Nicolae Vacaroiu, and vice-president Radu Berceanu

  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.
  (ZIARUL FINANCIAR 9 Mirela Luca) --- Read article here
   
   
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