Zapp obtained
an increase exceeding 25% in revenues, in 2005
Zapp obtained an increase exceeding 25% in revenues, in 2005,
while the operational profit increased by 15 times, states the new chief of Telemobil,
Piermarino Di Pietro. The operations manager states that the investments in the
expansion of the coverage and for the development of new services started to
pay off. In order to obtain the wanted increase, Zapp prepares new offers related
to the services of voice and data, but also new technologies to increase the
data traffic speed. In 2005, Telemobil invested between USD 45 and 50 million,
especially for the increase in network coverage. The strategy of the operator
is still based on business services.
In
February, Rafo shareholders will analyze V&V Tranding Company's conduct
In February, Rafo shareholders will analyze the way in
which the representative of the single manager, V&V Tranding Company, obstructed
Balkan Petroleum majority shareholder's franchise, favoring the interests
of a third company, in which it is directly or indirectly interested. The
General Shareholders Meeting was summoned for February 7th, when the prejudices
caused by V&V Tranding Company to Rafo, respectively to BkP, by " abusively
'' exercising its single managers prerogatives in the Extraordinary General
Meeting of Shareholders that took place in late December 2005, will also
be analyzed. At the same time, Rafo intends to raise its equity by RON 28.6
million.
The company of managing the investments funds Societe Generale Asset
Management Paris plans to voluntarily liquidate the fund Societe Generale Romania
Fund and to release EUR 200 million for the newly-entered countries in the EU,
including Romania and Bulgaria. SGRF invested in Romania USD 42.5 million in
14 investments projects, including the mobile telephony operator Orange.
The
inflation target set by NBR for 2005 was missed
The 2005 inflation rate was 8.6%, exceeding the upper limit of the
fluctuation range targeted by NBR, the population's consumption prices increasing
by 0.5% in last December. In these terms, the average inflation rate for last
year decreased to 9.1% from the 11.4% registered in 2004, when the annual inflation
was 9.3%. For 2006, NBR set, together with the Government, a 5% inflation target,
with a plus/minus 1% range, that is the 4%-6% interval.
Erste
Bank launched the largest stock issue in the history of Vienna Stock Market
Erste Bank launched the largest stock issue in the history of Vienna
Stock Market, of almost 59 million shares. The funds to be raised by selling
these titles will be used for paying the EUR 3.75 billion price in the BCR takeover.
AVAS
recovered RON 14.5 million in the first part of January
In the first part of January, the revenues of the Authority for State
Assets Recovery (AVAS) from specific activities summed up to RON 14.5 million.
The amount comes from the activity of recovering the state assets, unprofitable
bank liabilities, tax liabilities, commercial liabilities taken over from the
natural gas and electricity distributors and others.
Petrom
shares had a " very good '' stock market evolution at the beginning of
the year
The " very good '' year-beginning registered by Petrom shares reminded
of January and February 2005, says the author of the material. At that time,
after being taken over by OMV, the stock market value exceeded EUR 8 billion,
exceeding even that of the Austrian majority shareholder. In the present, the
hike of Petrom shares comes on the background of the information on raising the
amount of gas supplied t the domestic market, in the terms in which more and
more people are hoping that the dependency on Russian gas imports diminishes
as result of using domestic resources more efficiently. As a matter of fact,
Petrom announced that it targets at becoming the lead Romanian and regional gas
producer by investing EUR hundreds of millions in developing new production capacities.
At the end of last year, Gheorghe Constantinescu, the company's General Manager,
stated that Petrom's clear profit might range around EUR half a billion and its
turnover might be of EUR 2.7-2.9 billion.
For
2006, Volksbank targets profits exceeding EUR 7 million
For 2006, Volksbank targets profits exceeding EUR 7 million, that
is 3 times higher than the one last year. In order to achieve this, the bank
will double the size of its outlets network and will focus on alternative selling
channels. In 2005, the bank's profit was affected by implementing the new bookkeeping
standards and by NBR's narrower standards on the reserve needs for funding granted
in foreign currencies to clients who are not naturally protected against currency
risks.
The
production costs in Romania - the lowest in EuropeOn Wednesday, Metrorex
went on warning strike for 2 hours
The countries in Eastern Europe and especially Romania attract a
high number of Italian investors because of their low production costs, a study
drawn up by the Assocamerestero agency reports. The analysis took into consideration
a series of elements that affect production: the costs of workforce, electricity,
petroleum products, water, land-based telephone calls.On Wednesday, Metrorex
went on warning strike for 2 hours. Subway employees are complaining about the
fact that the authorities are treating them with indifference and are ignoring
their demands. Metrorex's management says that the protest is illegal.
Analysis
of the way Romania can decrease its energy dependence on Russia
Serban Orescu analyst says that, at this moment, here is no threat
of Romania's dependence on the Russian gas leading to politic allegiance. Our
country has a " better '' situation than most European states, having domestic
resources enough for at least 2 months in case Russia ceases gas deliveries.
In the future, this situation will change, since Romania's resources will lower.
The author presents 3 measures that might decrease Romania's energy dependence
on Russia.
PM
Tariceanu asked Codrut Seres, minister of Economy, to draw up projects
on building hydra-electric power plants
PM Calin Popescu Tariceanu asked Codrut Seres, minister of Economy,
to draw up projects on building hydra-electric power plants. " In the terms in
which the crude and gas prices hiked, we must have a balanced portfolio of energy
plants - on gas, oil, hydra and nuclear, so that potential energy crisis affect
Romania as less as possible '', stated Tariceanu.
The
leasing market had a positive evolution all throughout 2005
The Romanian leasing market had a positive evolution all throughout
2005. According to the data provided by the Romanian Leasing Association, the
estimated value of the leasing contracts signed in the first 3 quarters of 2005
was EUR 1,599.8 million, that is almost 88% in the value of the contracts signed
in 2004.
Commercial
surplus lower by 12% in the wood industry
In the first ten months of 2005, the industry of wood processing
and wood products (excluding furniture) recorded a commercial surplus of EUR
459.3, 12% down as against the same period in 2004. This drop was associated
to commercial exchanges.
In
2006, foreign companies will invest EUR 5.5 billion in Romania
According to ARIS, in 2006, foreign companies will invest EUR
5.5 billion in Romania. So far, the highest amount of foreign investments
was recorded in 2004, when OMV took over Petrom. I 2005, the most important
capital raises performed by foreign investors were those at Distrigaz Nord,
Alro Slatina and Banca Romaneasca.
The
company Mecanica Fina Bucharest reinvested its profits
Mecanica Fina Bucharest is active in the car-manufacturing industry,
being the lead Romanian producer of non-electric measure and control devices.
The company has reinvested the profits made in the 2001-2004 period. Petrom,
Romgaz and Transgaz are among its domestic clients.
EUR
300 million to be invested in the Romanian railway infrastructure in 2006
" The Government's investment priorities in 2006 will be highways,
the energy system, the education infrastructure and farming '', stated deputy-PM
Gheorghe Pogea. EUR 300 million will be allotted to the operations on railway
transportation Corridor 5 and another EUR 50 million will be directed toward
repairing road and railway bridges.
Romexterra
Bank's territorial network will reach approximately 60 outlets in 2006
Romexterra Bank's territorial network will reach approximately 60
outlets in 2006. In this context, the bank opened a new outlet in Alba Iulia
and another one in Bucharest.
BCR
privatization will bring money for investments in agriculture, infrastructure
and education
The Government presented the list of projects for 2006-2008. The
Government will invest, in 2006, between EUR 700 million and 1 billion in project
aiming at domains such as agriculture, infrastructure and education. The necessary
amounts will be ensured from the budget or from sources such as BCR privatization.
The
Prime Minister criticizes the activity of the Superior Magistrate
Council
The Prime Minister Calin Popescu-Tariceanu considers that the way
in which acts the Superior Magistrate Council severely endangers the image of
our country. He added that it is inexplicable the wrong way in which this institution
runs its activity.
