The profit
of Alpha Bank reached EUR 15.1 million at the end of the first half of 2006
The profit of Alpha Bank reached EUR 15.1 million at the end
of the first half of 2006, 22% up as compared to the similar period of 2005.
Radu Gratian Ghetea, Prime Vice President of Alpha Bank, sees the bank's results
as good. The total assets of the bank were EUR 1.7 billion at the end of June,
78% up as compared to the same period of last year. The Greek bank occupies the
fifth position in the banking system as the assets are concerned, with a 4.22%
market share, and currently has a network formed of 45 operational branches.
(Romanian Source)
The
hierarchy of the Romanian banking system at the end of June 2006
Banca Transilvania and Alpha Bank had the most spectacular
evolution in the first half of the year. Each of them had a leap of three
positions in the chart of banks from the assets standpoint. Banca Transilvania
went up on the 4th position, with a 4.34% market share, in June, 0.44% up.
The 4.22% which Alpha Bank accumulated allowed it to occupy the 6th position
in the chart of the banking system, position it occupied together with CEC.
The most abrupt fall was registered by HVB Bank which, because of the shrinking
market share by 0.82%, fell from the fifth position, which it occupied at
the end of last year, to the ninth position halfway through the year. Bancpost
went down two positions down to the eight place because of a diminishing
market share by 0.31% down to 4.91%. BCR had halfway through the year a 25.6%
market share, as compared to 25.7% at the beginning of the year. BRD-GSG
increased its market share by 0.48% as compared to the beginning of the year,
up to 15.48% as it had halfway through the year. Raiffeisen Bank managed
to keep its third position in the chart, but its market share fell by 0.78%,
down to 7.91%. (Romanian Source)
Continental
Automotive Products SRL from Timisoara ended the year 2005 with a gross
profit of RON 137.89 million
The tires manufacturing company Continental Automotive Products
SRL from Timisoara ended the year 2005 with a gross profit of RON 137.89 million
(almost EUR 40 million), according to the official data of the company. In 2005,
the net turnover of the company was RON 786.6 million. Continental Automotive
Products had, at the end of last year's accounting period, fixed assets of more
than RON 390.5 million, current assets of RON 121.37 million. (Romanian Source)
Avicola
Crevedia plans to contract loans worth up to EUR 10 million from Finans
Bank
The fowl producer Avicola Crevedia plans to contract loans
worth up to EUR 10 million from Finans Bank, in order to ensure the resources
of co-financing some projects which the company wants to unroll through SAPARD
program. The shareholders of the company approved last week the contracting of
loans and the using the company assets for guaranteeing these credits. (Romanian
Source)
Budget
revenues in the first half of July 2006, 13% up as compared to the similar
period in 2005
Budget revenues in the first half of July 2006 went 13% up as compared
to the similar period in 2005, being RON 4.5 billion, according to the data centralized
by the Direction of evaluating the revenues of the general consolidated budget,
at the Ministry of Public Finances. State budget revenues were RON 2.56 billion,
2.13% up as compared to the same period in 2005. In the analyzed period, the
revenues from the tax on income and wages, 35% (up to RON 520 million), increased
the most, followed by the revenues from customs duties - 26.6% up (up to RON
145 million) and the revenues from value added tax (VAT) - 12.4% (RON 1.2 billion).
(Romanian Source)
At
the end of the first quarter of 2006, trade deficit was EUR 5.81 billion
Trade delegated Minister, Iuliu Winkler, announced that in the first
quarter of 2006 exports went 20.3% up and imports went 25.3% up. Overall, foreign
trade with merchandise went 23.3% up, as compared to the similar period of last
year. Trade deficit at the end of the first quarter was EUR 5.81 billion, computed
as the difference between the export on FOB prices and import on CIF prices.
The main factors which caused this deficit are, according to Winkler, the alert
pace of investments for the restructuring and upgrading of economy, the dependency
on imported raw materials, as well as the competition of import goods to which
the supply of national output cannot satisfy the demand of the population. (Romanian
Source)
The
Capital City Hall obtained a profit of EUR 8.8 million from bonds placed
a year ago on the international market
The Capital City Hall placed a year ago on the international market
bonds worth a total of EUR 500 million. The money obtained from the selling of
bonds was deposited at banks in Romania, named after a public tender. Following
the unrolling and administration of funds attracted through the issuing of international
bonds, the City Hall obtained, for the first year, EUR 20.265 million from the
interest rate paid by banks (4.125% annually). The financial surplus (from interests
cashed in in the first year from investing money attracted through bonds' issuance)
exceeds EUR 8.8 million. Moreover, Municipal Authorities cashed in interests
from placements worth EUR 29.7 million. (Romanian Source)
The
arrears of individual clients at paying back loans taken from banks went
up to RON 217 million
The arrears of individual clients at paying back loans taken from
banks went up to RON 217 million (EUR 60.8 million) at the end of June, according
to the statistics of the Credit Bureau. As compared to the same period in 2005,
the difference of arrears marks an 85% growth in RON, remaining as dynamics slightly
behind the credit for population, which during May 2005-May 2006 went 89% up,
according to the latest data of NBR. The number of persons reported by the banks
in the system with current arrears went down to 242,000, 52% above the level
in June 2005. (Romanian Source)
Alko
Kraft extended its businesses in Lipova town in Arad
The commercial company Alko Kraft decided to extend its businesses
in Lipova town in Arad county. According to Viorel Popina, Mayor of Lipova,
the former car workshop of the military unit was licensed from the City
Hall by the company Alko Kraft. Shortly, the workshop was turned into a
modern assembling plant where currently there are already working 20 employees
who manufacture dies and casts. (Romanian Source)
Bancpost
targets, for the period to come, the expansion of territorial network
Bancpost inaugurated the Agency " Victoria Square '', this being
the 164th branch of the bank in Romania. Moreover, Bancpost recently inaugurated
five branches in Constanta, and for the Capital they planned the opening, this
month, of seven branches, the operational network of the bank around Bucharest
thus expanding to 39 centers. Bancpost units meet the new corporate identity
of the bank, which reproduces the image of its majority shareholder, Eurobank
EFG, respectively open interior spaces, giving up the idea of closed pay offices,
the access of clients to special officers being much easier. (Romanian Source)
The shareholders of the insurances company Generali invest RON 20
million to increase the social capital of the company to RON 50 million. The
increase will be made by issuing 200 million new shares with a nominal value
of RON 0.1. The majority shareholder of the company is Generali Holding Vienna,
which has 83.3% of the capital. Astra has a stake of 15.95% of Generali Asigurari,
and the National Union of Consumption Cooperatives - Centrocoop has shares whose
value does not exceed the 1% benchmark. (Romanian Source)
Stabilus
opened, in Sanpetru locality, in Brasov county, a factory of gas springs
for ergonomic chairs
The German company Stabilus opened on Thursday, July 28th 2006, in
Sanpetru locality, in Brasov county, a factory of gas springs for ergonomic chairs,
the projects started in 2005 needing investments of EUR 10 million. The factory
has a weekly output of 160,000 springs. According to the Output Manager of Stabilus
company, Sorin Stoica, the company decided to choose the location in Brasov county
as in the area there is highly qualified workforce. (Romanian Source)
After
the EU accession, local taxes and duties will be indexed every three years
After Romania's accession to the European Union, local taxes and
duties will be indexed every three years, according to the inflation, mentioned
representatives of the Ministry of Public Finances in a seminary on fiscal issues.
Currently, local taxes and duties are indexed annually, according to inflation.
Starting January 2007, taxes will be paid quarterly, and in the case of the property
tax there will be two payment deadlines: March 31st and September 30th. (Romanian
Source)
The
Ministry of Public Finances plans to make public the norms of applying
the new Tax Code by October 15th
The Ministry of Public Finances plans to make public the norms of
applying the new Tax Code by October 15th, to be able to republish the entire
legal frame before the end-year, stated the State Secretary of the Ministry of
Public Finances, Catalin Doica. The Tax Code was adopted by the Parliament at
the beginning of July. (Romanian Source)
Dinu
Patriciu supported the electoral campaign of the Social Democratic
Party in 2004
Two of the companies controlled by the liberal businessman Dinu Patriciu
sponsored the main political enemy of the Liberal Party in the electoral year
2004, namely the Social Democratic Party. The advertising company Odyssey Communication
SRL and the company Global Security Consulting SRL, owned by Rompetrol Holding,
and, respectively, by Rompetrol Logistic, donated almost ROL 2 billion to the
Social Democratic Party. The money was supposed to finance the electoral campaign
of the Social Democratic Party in the general elections of the fall of 2004.
(Romanian Source)
The
Social Democratic Party opposes to sending troops in Lebanon
The Spokesperson of the Social Democratic Party, the Senator Cristian
Diaconescu, said that the statement of the President regarding Romania's ability
of participating in Lebanon with interposition troops is a hasty decision of
Traian Basescu. " Romania must not accept such a barter, namely military interposition
forces against USA visas, '' Diaconescu stated, reminding that in the American
Congress the issue of visas for countries in the Baltic areas is carefully looked
into. (Romanian Source)
