Gilbert Wood,
President of the Foreign Council Investors (FIC) was
member of the jury that granted the 2005 Business
Review Annual Investments Awards. Other
representatives of the business environment members of this
jury were: Misu Negritoiu (ING),
Anca Ioan (Tiriac Holdings), Friedrich Nieman (Athenee
Palace Hilton). (English Source)
Romanian International Bank opens its 20th branch in Romania
and its first in Bacau. The clients of the new branch will benefit of all the
services included in RIB's portfolio - from banking operations to credits and
financial solutions. RIB provides the entire range of banking services for both
natural persons and legal entities. (Romanian Source)
According to the company's announcement, the shareholders of
Romexterra Leasing will meet on March 7 to approve the increase of the registered
capital by RON 2.64 million up to RON 25.23 million, by incorporating the
reserves due for 2005 financial year. In this respect, 52,892 shares will
be issued and they will be distributed to the shareholders registered as
of December 31, 2005. At the moment, its shareholders are: Romexterra Bank -
89.59 % , Petromservice and Grup Servicii Petroliere - 2.21% each and others
- 5.99%. (English Source)
BancPost's funds increased to approximately EUR 115 million, by
a social capital increase of EUR 80 milllion. The remaining EUR 35 milllion were granted
by the majority shareholder, Eurobank EFG, as loan, stated BancPost Chairman,
Mihai Bogza. (Romanian Source).
Shareholders of Eximbank Romania decided to increase the bank's share
capital by RON 651.6 million (EUR 182 million) up to RON 758.7 million (EUR 212
million), through a cash contribution. To that end, 108 . 6 million shares will
be issued at a par value of 6 RON. (English Source)
"Small
exporters'' are left without financing solutions
According to data released by the National Statistics Institute,
the textile and footwear industry weighted 23.5% of the overall exports, in 2005.
Generally speaking, most of the companies that act in this field are small-sized.
Due to ROL increase, exporters lost millions of euros in 2005. Authorities consider
that the forward contracts represent a solution to cover the loss. In case of
forward contracts, the banks request the submission of a safety margin, between
10 % and 20%. (Romanian Source)
According to data released by the National Statistics Institute,
the wood processing industry (furniture included) registered, in 2005, a trade
surplus of more than EUR 553 million, 10% lower than in 2004. Wood imports increased
by almost 31%, amounting to EUR 305.1 million. Exports amounted to EUR 858.2
million, 1.4% up, as compared to 2004. (Romanian Source)
The
National Strategy for State Aid excludes State aids granting
State Minister Gheorghe Pogea and the Competition Council President,
Mihai Berinde, scheduled a meeting on March 1 in order to agree on the final
form of the National Strategy for State Aid, which shall be sent to Brussels
for endorsement. The document includes the economic sectors that cease to benefit from budgetary
aids: coal industry, metallurgy, agriculture, fishing and aquaculture. (Romanian
source)
Turkish
Holding Sabanci to carry on surveys in Romania in order to open a cement
plant
In order to open a cement plant, Turkish Holding Sabanci intends to
carry on surveys in Romania. Yilmaz Kulc, manager with Cimsa, said the
holding performed major investments for development in 2005. At the same
time, the group considered the possibility to open a plant in Romania and
to expand to Europe. Cimsa owns production facilities in Spain, Germany
and Middle East. (Romanian Source)
"Arena
City Center'' will develop the first shopping center in Bacau
"Arena City Center'' will develop in Bacau a shopping center to include
150 stores on a total of 30,000 square meters, real estate company Eurisko, exclusive
agent for the project announced yesterday. Works will be launched in March and
completed in the second half of 2007. The funds will be supplied from the developer's
own sources and bank credits. According to Eurisko, the decision to develop the
first mall in Bacau was triggered by the increase of foreign investments and
of living standards in the area. The mall will be located in the city's most
populated residential area, which concentrates close to 30 per cent of the total
number of Bacau inhabitants. (English Source)
Australian
group South Pacific to build 500 housing units in Tunari
Australian group South Pacific will build 500 housing units in Tunari,
in an investment nearing EUR 70 million, thus extending initial plans which referred
to the development of 200 villas, George Prelea, one of the three businessmen
who control South Pacific Group announced on Monday, February 27. The construction
works will be launched this spring and most villas will be finalized in the first
half of next year. The complex will be serviced by shared garages and a road
allowing for quick access to National Road 1. The prices of the 102 villas will
range from EUR 139,000 to EUR 227,000, VAT not included. Prices include the furniture,
kitchen and bathroom equipment, as well as the air conditioning system. (English
Source)
Austrian
Hirsch Servo plans investments of more than EUR 3 million in Romania
Austrian Hirsch Servo plans to expand its production network to South-Eastern Europe
and to invest more than EUR 3 million in Romania in the next few years. In this
regard, the Austrian company plans to build a expanded-polystyrene plant in Cluj-Napoca.
The Austrian company currently owns several production facilities in Austria,
Italy, Hungary, Poland and Slovakia. (Romanian Source)
Connex
-Vodafone has earmarked 200 million euros for its investment budget for
this year
Connex -Vodafone mobile telephony operator has earmarked approximately
200 million euros for its investment budget for this year, stated Liliana Solomon,
the CEO of the operator. This year, Connex -Vodafone also intends to rapidly
expand its retail chain, currently comprising 33 stores. At the same time, the
company wants to launch a new technology for the 3G-telephony sector this year,
HSDPA, namely the advanced version of current 3G services. " We estimate we will
make the transition to the upper echelon of 3G, HSDPA, a technology allowing
for data transfer of up to 2Mbps, '' stated Liliana Solomon. The HSDPA technology
is several times faster than the 3G technology currently offered on the market.
While the theoretical speed is higher, the real transfer rate of HSDPA will stand
at 1 2-1 4 Mbps, Andreas Hessler, head of strategy and business development of
the 3G-telephony unit of Ericsson, Swedish supplier of infrastructure solutions,
has previously told Ziarul Financiar. (English Source)
The
Decree for the modification of the law regarding the disclosing of former "Securitate''
The Decree for the modification of the law regarding the disclosing
of former "Securitate" members was published in the "Official Gazette'' on February
27th. The Decree extends the categories of public positions that are to be investigated
by the National Council for the Research of Securitate Archives. Therefore, the
presidential advisers and the heads of the special services will be verified in
order to find out whether they collaborated with the communist political police
(Romanian source).
Bucharest
Court postponed for Thursday the ruling regarding the prosecutors'
request for preventive arrest of businessman Ovidiu Tender
On February 27th, Bucharest Court postponed for Thursday the ruling
regarding the prosecutors' request for preventive arrest of businessman Ovidiu
Tender, prosecuted in the "RAFO" file. The new hearing date is set on March 2nd.
(English Source)
The
Democratic party invites the Popular Christian Democratic Party to
merge
The merger proposal made to the liberals was turned down. But PD
does not give up the project to establish a powerful center right party, deriving
its substance from the popular platform, with or without the participation of
the liberal colleagues, said Emil Boc, on Monday, February 27. He nominated PPCD
as a possible dialog partner Boc refused however to comment whether Gigi Becali''s
party, PNG, that recommends itself to have the Christian democrat doctrine, would
be a possible dialog partner PRM is also trying to enter the European Popular
Party (EPP) but Boc says that through its statute PD has committed to have nothing
to do with Vadim Tudor's party maintained. (English Source)
