In
2006, Saint Gobain will launch a hi-tech gall manufacturing
line in Calarasi, with an estimated daily production of 600
tons. Thus, Romania will start massive glass exports. Olivier
Lluansi,General Manager with Saint Gobain Glass Romania,
stated that the process of meeting European standards in
the energy efficiency of buildings with shiny surfaces is
far from being over.
The negotiations
for Daewoo Automobile Romania are resumed
The negotiation of the contract for the takeover by the Romanian
state of the shares held by the South-Koreans to the equity of the company Daewoo
Automobile Romania (DWAR) are to be resumed this week.
In
2005, the group RTC Holding obtained a turnover of EUR 220 million
In 2005, the group RTC Holding obtained a turnover of EUR
220 million, from which EUR 8 million only in the IT&C sector. In December
2005, RTC Holding became major shareholder of ProCA Romania, which has a
network of dealers all over the country. The group RTC has more than 65 companies,
grouped in 13 divisions.
NBR
attracted approximately RON 4.5 billion from banks by selling deposit certificates
with a 3-months term
NBR attracted approximately RON 4.5 billion (approximately EUR 1.2
billion) from banks by selling deposit certificates with a 3-months term, with
an average interest of 7.18%, 0.21% below the maximum level accepted. The central
bank offered deposit certificates worth RON 6 billion (EUR 1.6 billion).
At
the end of December 2005, Romanians' debts on consumption loans amounted
to RON 147 million
According to the Credit Bureau, the debts accumulated by natural
persons on credits summed up, at the end of December, to almost EUR 47 million,
3.6 times higher than a year ago. Expressed in RON, the sold of debts in December
reached 172 million. Meanwhile, the number of participants reporting debts in
the system increased by non-banking financial institutions and leasing companies
entering it. The debts to consumption loans sum up to RON 147 million (that is
85% in the total amount), while those on credit cards - RON 17 million.
Sicomed changed its name to Zentiva. The pharmaceuticals producer
Sicomed Bucharest will contract a loan of USD 10 million from Citibank Romania
for sponsoring the company's current activity.
The company Romaero Bucharest recorded in the first three quarters
of 2005 a turnover of RON 29.2 million, 22.8% higher than in the similar period
of 2004. The company made a gross profit of RON 230,000, as compared to a loss
of almost ROn 2.5 million during January-September 2004.
The Shareholders' General Extraordinary Meeting of Compa approved
the increase in the equity with RON 7,780,087, by issuing a number of 77,800,870
new nominal shares with a nominal value of RON 0.10, for a contribution brought
by shareholders.
At
the end of 2005, the savings of economic agents in currency deposit certificates
dropped by 12%
At the end of 2005, savings by deposit certificates were not among
the investment companies' favorites. Thus, the savings of economic agents made
by such instruments dropped by 12% from October 2005, from approximately RON
777 to RON 687 million, show the latest data provided by NBR. An explanation
might be the fact that the months near the end of a year are traditionally characterized
by extra expenses with supplying for the winter holidays.
On November 28th 2005, the Shareholders' General Meeting of Oltchim
decided to increase the equity. The decision was legally attacked by minor shareholders.
Until the dispute is not over, MEC cannot take the factory up for privatization.
Several foreign companies, including Lukoil, announced their intention to participate
at the privatization process.
Romania needs EUR 60 billion during 2007-2013, money which has to
be invested in transportation infrastructure and in the rural development. We
will obtain EUR 30 billion from the European Union through the structural funds.
The President Traian Basescu computed that we need another EUR 30 billion from
the foreign markets.
The
budget deficit recorded in 2005 was 0.8% of the GDP
The budget deficit recorded in 2005 was 0.8% of the GDP. According
to the Ministry of Public Finance, the revenues of the general consolidated budget
were made 29.7% of the GDP, at the same level as in 2004, and the expenses represent
30.5% of the GDP.
BEI
expects Romania to access the EU on January 1st 2007
The European Bank for Investments (BEI) expects Romania to access
the EU on January 1st 2007, as recently stated BEI vice-president Wolfgang Roth,
after the meeting with the Prime Minister Calin Popescu-Tariceanu, at Victoria
Palace.
According
to ARIS, in 2005, telecommunications attracted the largest volume of direct
investments
In 2005, the value of direct investments with significant impact
in economy was USD 1.8 billion, 47% up as against 2004. For ARIS, telecommunications
attracted the largest volume of direct investments, with 50 projects and
a value of USD 1.16 billion, representing 22.56% of the total investments.
The
Ministry of Public Finances will contract a foreign credit worth EUR
52.2 million
The Ministry of Public Finances will contract a foreign credit worth
EUR 52.2 million, for partially sponsoring some projects in the portfolio of
the Ministry of Transports. From this fund will be also paid the advance owed
by CNCFR, worth EUR 9 million, for the systems of electronic centralization bought
from Alcatel.
Eurobank
Mutual Funds Management Romania will launch 2 mutual funds
Eurobank Mutual Funds Management Romania, Switzerland-based Eurobank's
investment management company, will launch 2 mutual funds, for which it has already
received CNVM's approval. The units issued by the 2 funds, Bancpost (Active Balanced
monetary fund) and Bancpost Plus (diversified fund), will be distributed by the
Bancpost network. Bancpost is the 5th bank that enters the mutual funds market,
after BCR, BRD, HVB Bank and Transilvania Bank. Raiffeisen Bank and Finansbank
have also expressed their intention of launching mutual funds.
Transilvania
Bank plans, for 2006, investments in upgrading its IT system and in its
cards networks
Transilvania Bank plans, for 2006, investments in upgrading its IT
system and in its cards networks, also targeting expanding its territorial outlets
network from 215 to 300. The investment plan is to be completed by the end of
January 2006, after which the bank's managers will decide on the proposals to
be made to the shareholders, according to the capital needs.
Europolis
invested on the Romanian market approximately EUR 103 million
The Austrian fund of real estate investments Europolis invested on
the Romanian market approximately EUR 103 million in the two projects it got
involved: the building of offices Europe House and Cefin Logistic Park. The project
Europe House is known also as the Orange building, being currently the headquarters
of the mobile telephony company.
Enel
invests more than EUR 60 million in the distribution of electric power
in Romania
The Italian company Enel, which took over the companies of electric
power distribution Electrica Banat and Electrica Dobrogea, announed it will make
in 2006 investments of about EUR 65 million. The group spent in 2005 about EUR
20 million for upgrading, retechnologizing and expanding the network.
he
Government adopted the law project regarding the protection and the promotion
of the rights of handicapped persons
The Government adopted the law project regarding the protection and
the promotion of the rights of handicapped persons. By the end of 2006, telephony
operators will have to adapt at least a cabin to a battery of public phones in
order to allow the access of handicapped persons and to provide information on
the costs of the services in forms accessible to the handicapped persons.
