For UniCredit
Bank, 2005 was a year of repositioning on the marketOptimistic forecast In
2006, inflation will be at least 7%
For UniCredit Bank, 2005 was a year of repositioning on the
market, of redefining its strategy and of starting its retail activity. It was
also a year of a large development of its outlets network, that reached 50 units,
thus giving the bank national coverage. As for the Romanian banking system, Rasvan
Radu, head of UniCredit, considers that no spectacular growths will be registered
in 2006, because of the restrictions on currency crediting and on consumption
loans.
In
a couple of days, Erste Bank will begin operations of raising its equity by
EUR 2.4 billion for the BCR takeover
In a couple of days, Erste Bank will begin operations of
raising its equity by EUR 2.4 billion for the BCR takeover. The operation
consists in issuing shares on the Vienna Stock Market.
Misu
Negritoiu, CEO with ING Bank, about the evolution of the Romanian banking
market in 2006
In 2006 and in 2007 as well, the Romanian banking market will
be influenced by imminent accession to the EU and by the complete privatization
of the banking system, considers Misu Negritoiu, CEO with ING Bank. Mr. Negritoiu
explained that the 2007 accession will trigger the full liberalization of the
capital account and switching to full convertibility of the national currency,
fact that will introduce the foreign dimension on the domestic banking market
by unrestricted capital flows. The privatization of the 2 large State-banks (BCR
and CEC) will align the standards of the domestic banking market to the European
ones, says Mr. Negritoiu.
The Government agreed to supplement the budgets of the ministries
in the subordination of whom are monitored economic agents. MCIT budget was supplemented
with RON 1.7 million.
Patrick
Gelin, BRD-GSG president, about the domestic banking market in 2006
Patrick Gelin, BRD-GSG president and general manager, stated
that the BCR and CEC privatizations are the events that will mark the banking
market in 2006. The structure of the Romanian banking system will change once
the privatizations take place, but it will probably take a couple of months for
the effects of the privatizations to be felt on the market, added Mr. Gelin.
Radu
Gratian Ghetea, president of the Romanian Banking Association, about the
banking market in 2006
Radu Gratian Ghetea, president of the Romanian Banking Association
and deputy-president of Alpha Bank, stated that, in 2006, we will witness the
banking market becoming homogeneous. Thus, if, so far, there were only 2 State-owned
bank that had one third of the market, this will no longer happen in 2006. Romania
acceding to the EU will mean an infusion of capital, " know-how '' and of new
banking products and services.
Steven
van Groningen, Raiffeisen Bank president, presents the possible evolutions
of the Romanian banking market in 2006
Steven van Groningen, Raiffeisen Bank president, considers
that 2006 will be a very interesting year, in which, normally, the consolidation
of the banking system will continue. Furthermore, the UniCredit Bank - HVB Bank
merger will be completed, as well as the BCR and CEC privatization processes.
All these events will change the market.
As
of Wednesday, January 4th, Petrom raises fuel prices by up to 6 bani per
liter
As of Wednesday, January 4th, Petrom raises fuel prices by up to
6 bani per liter, states a press release issued by the company. The largest price
hike will be applied on Unleaded Premium gasoline, that will hike from RON 3.25
to RON 3.31 per liter. Eco Premium and Top Premium 99+ will cost RON 3.63 per
liter, up 5 bani. A liter of Super Euro Diesel will be RON 3.33 and one of Euro
Diesel - RON 3.27, that is 3 and, respectively, 4 bani per liter up.
Codrut
Seres, minster of Economy, restated that Romania is not facing problems
in the natural gas distribution
Codrut Seres, minster of Economy, restated that Romania is not facing
problems in the natural gas distribution. He stated: " Till January 9th, no problem
in the natural gas distribution is forecast. Natural gas delivery parameters
are normal, as any one can see in his own kitchen ''.
Romania
is the European country that pays the highest price for the natural gas
imported from Russia
Romania is the European country that pays the highest price for
the natural gas imported from Russia: USD 285 per 1,000 cubics, while EU countries
are buying Russian gas at USD 240 per 1,000 cubics.
Romgaz
and Petrom, the Romanian natural gas producers, have to increase the volume
of gas drilled in the country
Romgaz and Petrom, the Romanian natural gas producers, have to increase
the volume of gas drilled in the country. Codrut Seres, minister of Economy,
asked the 2 companies to announce the ratio by which they can supplement their
production within 2 days. At this moment, Romania covers almost 60% in its gas
need from the its own resources.
In
the first 11 months of 2005, the commercial deficit exceeded EUR 9 billion
In the first 11 months of 2005, the commercial deficit exceeded
EUR 9 billion, almost 44% up from the similar period of 2004. The deficit deepening
was determined by the energy imports.
Daewoo
Craiova might belong to the state as of this week
The negotiation of the contract of takeover of the Romanian
state of the major package of shares that the Koreans from Daewoo Motor
hold at Daewoo Automobile Romania (DWAR) might be concluded during this
week.
Mobifon,
SNR, Orange, RomTelecom and Euroweb signed the contracts for installing
and managing the 33 telecenters in the rural environment
The five companies (Mobifon, SNR, Orange, RomTelecom and Euroweb)
which won the first auction for implementing the universal service organized
in 2005, together with the mayors of several localities benefiting of this and
the ANRC chairman, signed signed the contracts for installing and managing the
33 telecenters which will become functional by the end of April 2006. They will
ensure the access of more than 41,000 inhabitants in the rural environment to
telephony and Internet services.
The
company Dornafarm Suceava will invest EUR 385,000
The company Dornafarm Suceava will invest EUR 385,000 to buy a package
representing 35% of the social parts of Santotex Hemeiusi, Bacau county. The
decision was taken at the Shareholders' General Assembly, on December 21st 2005.
The
company Norvea Brasov will warrant the bank loan requested by Casalco Sfantu
Gheorghe
The company Norvea Brasov will warrant, by issuing tickets on term,
the bank loan requested by Casalco Sfantu Gheorghe, worth EUR 800,000. The company
from Brasov took this decision at the Shareholders' General Assembly, on December
23rd 2005.
" Uzinele
Mecanice Timisoara '' is partner of Caterpillar Grenoble France
The largest part of the products found in the manufacturing portfolio
of the company " Uzinele Mecanice Timisoara '' have as final destination foreign
markets. In the last years, UMT exports had an ascending trend, reaching 69.91%
of the output made in 2004.
PSD
says that the recent failure in the negotiations between Russian
and Ukraine on the new natural gas price might affect the Romanian
system
PSD says that the recent failure in the negotiations between Russian
and Ukraine on the new natural gas price might affect the Romanian National Natural
Gas Transportation System. A press release issued by PSD's Economic department
states that: " Unfortunately, the 2.8 billion natural gas cubics stored, lower
than the 3 billion cubics capacity, as well as president Traian Basescu's statements,
such as or , can cause additional problems to Romania ''.
The
integration of Romania in the EU might be delayed even after 2008
Even if the safeguarding clause refers to a year's length, the integration
of Romania in the EU might be delayed even after 2008, stated yesterday, January
3rd 2006, Thomas Silberhorn, the spokesperson of the Christian-Social Union,
politic party in the German Government.
