A&D Pharma will pay shareholders dividends amounting to EUR 7.5 million
A&D Pharma will pay shareholders dividends amounting to EUR 7.5 million. The decision was also approved by the group of banks with which the pharma company had signed a debt refinancing deal in 2009. The dividends will amount to EUR 0.039026 per share and reflect the group's performance before March 2010. The payments were approved by Banca Comerciala Romana, BRD, Cltibank Europe, RBS Bank, UniCredit Bank Austria and BRD - Groupe Societe Generale. (Romanian source)
Alpha Finance sold more than 50,000 BVB shares on Tuesday and Wednesday
Alpha Finance, the brokerage arm of Alpha Bank, sold during the Tuesday and Wednesday sessions of the stock market 50,000 shares of the Bucharest Stock Exchange (BVB), accounting for 0.66% of the market operator's equity. The transactions decreased Alpha Finance's stake in BVB to nearly 0.82%. Alpha Finance is compelled to report its transactions with BVB shares because Stere Farmache is both President of the BVB and Executive Vice-President of Alpha Bank. (Romanian source)
NBR will get via operational leasing on a three-year period communication equipment and solutions for the control and monitoring of the access to the institution's IT resources
The NBR will get via operational leasing on a three-year period communication equipment and solutions for the control and monitoring of the access to the institution's IT resources. The total value of the contract amounts to EUR 1.2 million without VAT according to the data posted on e-licitatie.ro. Among the targeted services there is an Internet wireless system with centralized management, access switches, firewalls and traffic encrypters. (Romanian source)
OMV Petrom's managers summoned the shareholders to a general meeting on August 3, 2010
OMV Petrom's managers summoned the shareholders to a general meeting on August 3, 2010. The meeting will be held in the D Hall of the Bucharest Marriott. OMV Petrom's CEO is Mariana Gheorghe.
The banks are increasing the interest rates paid for deposits to cover the inflation rate and the 16% tax on the interest
The banks are increasing the interest rates paid for deposits to cover the inflation rate and the 16% tax on the interest. Financial analysts believe that in case the inflation will be on an upwards trend, the increase of the interest rates paid for deposits will continue. Currently, the average interest rate for retail deposits in lei has reached 6%-7% and 2.5%-3% for Euros. Recently, Adrian Vasilescu, the Councilor of the NBR Governor, said on a TV show that the banks have no choice but to increase the interest rates for deposits so they could be positive. CEC Bank announced it has increased by 16% the interest rate for deposits as of July 1. (Romanian source)
NBR: The average interest rate for current RON-denominated deposits dropped from 7.34% in April
According to the NBR, the average interest rates for current RON-denominated deposits dropped from 7.43% in April at 7.1% in May. Compared to the first month of the year, it has dropped 2.03%. Also, the average interest for newly-made deposits decreased from 9.03% at 6.52%. The average interest for current EUR-denominated loans has dropped slightly during this year, from 6.69% in January at 6.5% in May. (Romanian source)
The IMF board is analyzing the stage of the implementation of the austerity measures adopted by the Boc administration to decide whether it would release the fifth installment of the loan
The IMF board is analyzing the stage of the implementation of the austerity measures adopted by the Boc administration to decide whether it would release the fifth installment of the loan which amounts to EUR 900 million. The money will go to NBR's reserve. (Romanian source)
NBR's currency reserves dropped EUR 362 million in June
NBR's currency reserves dropped EUR 362 million in June, for the second straight month, at EUR 31.6 billion, as the EUR 1.15 billion outflow exceeded the EUR 792 million inflow. According to the NBR, the outflow from the reserve represented the changing of the foreign currency minimum reserves (RMO) made by credit institutions, paid installments and interest rates for the external debt and others. The analysts believe that the outflow can be explained through the substantial fluctuation of the RMO made by the banks at the NBR. (Romanian source)
Government passed two emergency ordinances yesterday
The Government passed two emergency ordinances yesterday, July 1. One of the ordinances amended Law number 152/1998 regarding the establishing of the National Housing Agency (ANL), while the other focuses on the rehabilitation of existing houses from the heating point of view. The purpose of the two ordinances is to speed up the construction of new housing, by attractive private investors and to encourage the rehabilitation of existing ones. (Romanian source)
PSD Deputies asked the People's Attorney to notify the CCR regarding the amending of the Fiscal Code
Deputies belonging to the Social Democrat Party (PSD) have urged the People's Attorney to notify the Constitutional Court of Romania about Emergency Ordinance 58/2010, which amends the Fiscal Code. The Deputies claim that the Ordinance could be unconstitutional and urge the People's Attorney to bring the matter before the Constitutional Court. (Romanian source)
PSD will start using TV shows to promote new faces from within the party
Emil Radu Moldovan, spokesman of the Social Democrat Party (PSD), stated during a press conference that he would focus this summer on promoting new faces from within the party through TV shows. Moldovan added that the PSD manages its own press office, unlike the PD-L, and that the party members will have to be tested internally in order to evaluate their communication skills. (Romanian source)
