Romanian Bank aims, for this year, reaching an operational
profit of RON 195,4 M, while gross result will be of RON 38,7 M, compared to
RON 16,67 M in 2005, according to incomes and expenses budget approved by shareholders
in April the 27th. Shareholders have approved May the 27th an investments budget
of RON 58,93 M. (Romanian Source)
Finansbank will launch in June of this year, AII Inclusive
real estate credit. Beneficiaries of the AII Inclusive real estate credit
can obtain financing for field purchase and construction. Financing is approved,
also, for flat purchase, and for cover of purchase costs, moving and furniture.
The period on which AII Inclusive credit can be contracted is from 5 to 25
years. The bank offers a fixed interest of 7,9% in the first 2 years of crediting.
(Romanian Source)
Net
profit of National Bank of Greece has hiked with 59%
Net profit of National Bank of Greece has hiked in Q1 of 2006, with
59%, over the estimations of the analysts, after developing the markets of consume
credits, both locally and abroad. National Bank of Greece reported, May the 30th,
a net profit of EUR 250,2 M( USD 321 M), for the first 3 months of the year.
Advance of profit as compared to last quarter of last year was of 28%. (Romanian
Source)
Number
of chip cards under the sigle of Visa, under 1% from the total of cards
At the end of Q1 of this year, number of chip cards under the sigle
of Visa was of 5015 units. In the total of cards, ponder of chip cards is of
almost 1%. Thus, according to data from the National Romanian Bank, the total
number of cards in Romania was, at the end of March, of almost 7.900.000. (Romanian
Source)
BCR registered, after 4 months in this year, a net profit of EUR
90 M, in hike with 20% as compared to the same period in 2005, while actives
were over EUR 11 B, stated Nicolae Danila, CEO of the bank. In 2005, BCR obtained
a net profit of EUR 202 M, at actives of EUR 8,9 B. Raiffeisen analysts estimate
that BCR will contribute this year at operational incomes of Erste Bank with
EUR 12 M, while contribution to Austrian group profit will be of EUR 5 M. (English
Source)
Radu
Ghetea, president of ARB, is worried NBR will harden conditions for creation
of mortgage credit
Radu Ghetea, president of the Romanian Association of Banks, stated
that " launch by NBR of the debate concerning hike of prices of mortgage actives
and announcement of intention to monitor this market and to take some measures
of tempering, in case some risks would appear, represents a preparation of artillery
for hardening conditions at mortgage credit ''. Ghetea stated that, " if he insisted
on this, probably NBR prepares artillery for hardening rules concerning mortgage
credits granting. I do not think though that it is time for a hardening, because
rules are already harsh ''. (Romanian Source)
Owaise
Saadat, director for Romania of WB:" SME sector needs a great infusion
of capital ''
Sector of small and medium-sized enterprises in Romania confronts
with major problems and needs a great infusion of capital in order to become
an important field, as in the countries of the European Union, stated, May the
30th, director for Romania of the World Bank, Owaise Saadat. According to him,
these companies 'are left at random" and most of them bankrupt. Saadat states
that Romanian companies need to be ''learned" how to enter extern markets. (Romanian
Source)
If bird flu cannot be controlled, there is the risk of postponing
Romania accession date, stated, May the 30th, Italian euro-parliamentary Guido
Podesta, also co-president of the Mixed EU-Romania Parliamentary Comity. " This
risk should not be exaggerated, but administration of bird flu in Romania is
a big concern at the European Union level, because it is very serious not to
be able to control these kind of crises '', stated Guido Podesta. (Romanian Source)
Rompetrol
invests USD 30 M in developing its business abroad
Rompetrol eyes to invest, in 2006, over USD 30 M in developing
the network of fuels distribution and of deposits infrastructure abroad. "We
are the first Romanian company for which reference territory is no longer
the national one but the European one, the first Romanian multinational,
stated president of the group, Dinu Patriciu. The company will develop
its distribution network with 20 units in franchise. (Romanian Source)
Partnership
on the varnish and paints market: Fabryo - DuPont
Fabryo, third producer of paints on the Romanian market, signed a
partnership on 5 years with DuPont. Collaboration of the 2 companies supposes
both using, by Fabryo, of raw material from DuPont, to produce varnish and paints,
and creation of new Fabryo products, on the base of recipes elaborated by DuPont
researchers. (Romanian Source)
Ruwel
AG makes a EUR 80 M -investment in the electronic industry
A delegation of the German company Ruwel AG came, May the 30th, in
Cluj-Napoca, in order to perfect last agreements with the local administration
to start an investment that could reach EUR 80 M. Director of industrial parks
Tetarom, Viorel Gavrea, stated that, in fact, discussions will concentrate on
the support that the local authorities can grant to the German investor for construction
notification. Ruwel project concentrates on construction of a factory of integrated
circuits, direct investment will totalize EUR 50 M. (Romanian Source)
Guzu
Chim invests EUR 4 M in finalizing construction of a factory
Paint producer Guzu Chim will invest, in 2006, almost EUR 4 M, in
finalizing construction of a factory. The building will occupy a 6 ha-field and
will be located in Popesti-Leordeni. Construction has been started in 2002, the
investment being estimated at a total value of EUR 15 M. (Romanian Source)
Realitatea Media, which owns TV channels Realitatea TV and The Money
Channel, has finalized negotiations with press group Catavencu, for purchasing
majority share package. The turnover of the new entity is estimated at EUR 30
M, at the end of 2006. " This joint-venture is favourable for Catavencu, that
is in extension and financing need, but also for Sorin Ovidiu Vantu, that needs
creators and opinion leaders '', stated Catalin Sandulache, Managing Partner
Splendid Media. (Romanian Source)
Deputies
have adopted draft law concerning leasing operations
The commission for economic politics, reform and privatization of
the Deputy Chamber has adopted, May the 30th, with an unanimity of votes, the
draft law concerning leasing operations and leasing societies. Through proposed
modifications, it is to be done a greater resemblance with the law of international
practice in the field. The draft law states that lodger/user can choose for good
purchase before the end of leasing period, but no sooner than 12 months, if parties
convene thus, an if acquitting all obligations stated in the contract. (Romanian
Source)
Vice-prime-minister
will ask maintaining the actual system of taxing the micro-enterprises
State minister, Gheorghe Copos, decided that in the Government meeting
in May the 31st, in which draft law for modification of the Fiscal Code will
be examined, to ask that the actual system of taxing the micro-enterprises to
be maintained. Vice-prime-minister Copos will also suggest to the Government
a solution, limited in time at 2 years maximum, inscribed in the line of continuation
of the support granted to micro-enterprises. Romanian Source)
Companies will legally respond for felonies in achieving activity
object or in the name or the interest of a company, established, May the 30th,
deputies, after the article debate of the project of modification and completion
of the Penal Code. Thus, penalties for companies can be under fees from RON 2500
to RON 2 M, dissolution of the company or cancellation of its activity between
3 months and 3 years. (Romanian Source)
Calin
Popescu Tariceanu asked investigation in order to establish how money
were spent in fighting against bird flu
Prime-Minister Calin Popescu Tariceanu asked, May the 30th, an investigation
at the Ministry of Transports, in order to establish how money were spent for
disinfection substances used in bird flu centers, stated spokeswoman Oana Marinescu.
According to her, prime-minister considers that sums allocated for disinfection
are too big and does not want that these operations that are necessary in the
quarantine zones to be transformed in profit sources for some companies. (Romanian
Source)
Hearing
of AVAS president Razvan Orasanu, has been suspended
Senators in the Abuse commission suspended, May the 30th, the meeting,
because president of the Authority for Valuing the State Actives, Razvan Orasanu,
called for hearing, was 10 minutes late. President of AVAS, Razvan Orasanu, was
called for hearing at the Commission in order to explain RAFO, Carom and Solventul
debts. (Romanian Source)
