Fitch Ratings
restated the " A- '' rating granted to UniCredit Romania and HVB Tiriac Bank
International rating agency Fitch Ratings restated the " A-
'' rating granted to UniCredit Romania and HVB Tiriac Bank for long-term debts
in foreign currency. The associated outlook of the rating is " stable ''. The
mark granted for short-term debts was maintained at " F2 '' for " UniCredit Romania
'', and the individual rating and the support offered to the bank remained at " D
'' and " 1 ''. (Romanian Source)
Patrick
Gelin, BRD-GSG President, is proud of the bank's HR system
Patrick Gelin, BRD-GSG President, is proud of the bank's
HR system, the best on the market, in his opinion. Patrick Gelin appreciates
organizing the Francophone Summit, but thinks that it will not have a significant
economic impact. (Romanian Source)
Transilvania
Bank launched in Cluj the project " Romanian Contractor Club ''
Transilvania Bank launched, in Cluj, the project called " Romanian
Contractor Club '', which is going to develop information programs regarding
the development of investment projects. The club is part of the series of products
and services developed by Transilvania Bank for SMEs, being the seventh project
launched. The Romanian Contractor Club is addressing all businesspersons, and
BT clients benefiting from preferential conditions for the services provided
by this club. (Romanian Source)
On Friday, September 29, BCR Asset Management, the company
managing BCR investments, suspended the issue and buy-back of BCR Clasic, BCR
Dinamic and BCR Expert fund units, in order to change the repository. The new
repository for the assets of the three funds will be BCR, the company having
a previous working experience with ING Bank Bucharest. Trading of BCR fund units
will be resumed on Monday, October 2. (Romanian Source)
Impact
of Romania's EU accession on the economy might be a positive one with respect
to exports, direct foreign investments and economic growth
Radu Craciun, Analyst with ABN Amro Bank, said that the impact of
Romania's EU accession on the economy might be a positive one with respect to
exports, direct foreign investments and economic growth. Craciun mentioned the
fact that the countries that acceded to the EU in 2004 recorded a light increase
in inflation, because of the price adjustments. Florin Catu, Chief-Analyst with
ING Bank, considers that the accession will have long-term positive effects especially
with respect to economic growth. (English Source)
(ZIARUL FINANCIAR 18 Mihai
Bobocea Catalin Ciocan) --- Read
article here
Investment News
EUR
7 million investment in Lipova town, Arad County
A Germany-based company is going to build two production bays
in Lipova town, Arad County, which will create, in a first stage, 200 jobs.
The total investment is estimated at some EUR 7 million. The City Hall's
main target is to develop Lipova industry, through strengthening productive
commercial companies and through turning to good account the tourism in
the area. (Romanian Source)
Over
the past couple of years, telecom drew 23% of the total foreign investments
in Romania
The telecom field absorbed, over the past 4 years, the highest volume
of foreign investments in Romania, over 23% of the total, maintaining as field
of interest with a high potential of drawing European funds allotted for the
2007-2013 period. The Romanian IT&C market reached, in 2005, the value of EUR
4.2 billion, as compared to the EUR 3.7 billion in 2004, according to EITO. For
2006, the turnover estimated for the IT field stands at EUR 1 billion. (Romanian
Source)
RAFO
Onesti invested over 30 million dollars in 2006 for new technologies
RAFO Onesti invested over 30 million dollars in 2006 for new technologies,
and another almost 15 million dollars will be allocated by the end of the year.
An important investment is the fuel additives installation, which will allow
the refinery to produce the necessary additives for Euro 4 and Euro 5 fuel. (Romanian
Source)
PPF
Investments estimates buying 25% of Romexterra shares
In the bid developed until October 6, PPF Investments estimates it
is going to reach 25% of Romexterra Bank shares, the first investment of the
company in the regional banking system. The private equity company PPF Investments,
currently developing a public offer for buying Romexterra Bank shares, may invest
at least USD 100 million on the Romanian market in fields like services or real
estate. Still, at this moment, the most advanced project is the acquisition of
Romexterra shares, in the conditions in which Hungary-based bank MKB has already
bought a 55.3% stake. (Romanian Source)
Romania
wants to ask for a delay in raising alcohol excises
Romania wants to ask for a delay in raising alcohol excises, shows
an official release issued by the Ministry of European Integration. Yet, this
request is useless, since, through the tax on vice, introduced this year, alcohol
excises exceeded the level set with the EU. The tax on vice triggered an excises
hike of over 36%, as compared to the 31% one set with the EU for 1008. (Romanian
Source)
Gheorghe
Marin was appointed President of PC Constanta
Eugen Silaghi, First Deputy President of Constanta County PC organization,
and 8 other members of PC's Municipal Bureau resigned from the party as result
of the former Social-Democrat Gheorghe Marin being appointed President of the
organization. Martin and other members of his family were accused, in 2005, by
the Minister of Economy Codrut Seres, PC leader, of stealing fuel from Petrotrans
pipelines. (Romanian Source)
PSD's
chances of returning to the political stage in Romania may increase
PSD's chances of returning to the political stage in Romania may
increase if the party;s internal reorganization succeeds, said PSD Deputy Victor
Ponta. PSD's project for the 2 years left before elections targets at better
understanding the voters' expectations from the party and at fighting for achieving
the voters' demands. Victor Ponta says that PSD has to be reformed nit according
to the games within the party, but according to the which of PSD members and
sympathizers throughout the country. (Romanian Source)
The 51 PSD Mayors in Vrancea, as well as Deputy Mayors and Local
Councilors, demonstrated yesterday, September 28, in Unirii Square, Focsani,
as sign of support for Marian Oprisan, dismissed from the seat of President of
the County Council. The 150 PSD members say they will organize protest meetings
if Ion Oprea Prefect validates as legal the decision to dismiss Oprisan from
his seat. (Romanian Source)
