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mai 18, 2012
The Ministry of Public Finance borrowed yesterday RON 698.5m from banks, by selling state bonds with a 5-year maturity period at an average yield of 6.15%, slightly lower compared to previous auction on April 20, when the average yield was 6.14%. The scheduled value of the auction was RON 650m, [...] >> mai mult >>
mai 18, 2012
mai 18, 2012
NUCLEARELECTRICA postponed auction to select broker for IPO.
State-owned energy producer Nuclearelectrica announced it postponed the auction for selecting a broker for the 10% IPO on the Bucharest Stock Exchange. The reason was not disclosed. Nuclearelectrica has a share capital of RON 2.53bn (EUR 570m), out of which 90.27% is owned by the Economy Ministry, [...] >> mai mult >>
mai 18, 2012
Nabucco Project proposes a smaller version, by cutting gas pipeline length by two thirds.
The Nabucco Consortium presented a revised version of the gas pipeline project, cutting its length to 1,300km from 3,900km previously planned. Under the new concept, called Nabucco West, the pipeline will bring Caspian gas from the Bulgarian-Turkish border to Baumgarten in Austria. OMV, >> mai mult >>
mai 17, 2012
NBR: Q1’12 current account deficit narrows by 43.7% YOY, FDI fell 4.3% YOY.
According to the latest data released by the Central Bank, the balance-of-payments current account posted a deficit of EUR 0.5bn in the first three months of 2012, down 43.7% from January-March 2011 following a 52.2% YOY increase of the current transfer’s balance which reached 1.12bn, while [...] >> mai mult >>
mai 17, 2012
NBR: Total external debt almost flat YTD in March, at EUR 98.7bn.
According to the data published by the Central Bank, the medium and long-term debt representing 77.4% of Romania’s total external debt amounted to EUR 76.4bn, up 1.09% YTD in March, while the short-term debt representing 22.6% of the total external debt dropped 3.1% YTD and reached EUR 22.23bn [...] >> mai mult >>
mai 17, 2012
Fitch sees Romania’s economic growth up 1.6% this year.
Fitch forecasts that CEE region will grow 1.6% as the extent to which growth slows in the region is similar to the euro area, CEE’s main trading partner. Romania is rated “BBB-“, with stable outlook, by Fitch. (Source: IncomeMagazine.ro) [...] >> mai mult >>
mai 17, 2012
Reference date was set 8th of June. (Source: Fondul Proprietatea) [...] >> mai mult >>
mai 17, 2012
The transaction value was of RON 11.87m. The current shareholder structure is: Grup DD (31.8%), Celco SA (22.8%), Samara Stere (10.52%) and Transport Trade Services (4.03%). (Source: Socep) [...] >> mai mult >>
mai 16, 2012
The Central Depositories of Bulgaria and Romania have signed a cooperation agreement.
According to the Bulgarian Central Depository’s CES, Ivan Dimov, the direct link between the two settlement institutions will allow double listings and cross listings with low costs for the issuers, and also trans-border settlements. According to the Bulgarian Central Depository’s [...] >> mai mult >>
mai 16, 2012
mai 16, 2012
mai 16, 2012
mai 16, 2012
mai 15, 2012
NSI: Romanian GDP dropped 0.1% QOQ, up 0.3% YOY in Q1’12.
According to the National Statistics Institute flash data issued today, Romania’s GDP posted a slight drop of 0.1% in Q1’12 compared to Q4’11, while on the year it increased by 0.3% YOY in real terms. (+0.8% YOY seasonally adjusted). According to the data released today, the [...] >> mai mult >>
mai 15, 2012
According to a statement released by the Ministry of Public Finance, from the initial scheduled value of the auction of RON 900m only RON 335m was tendered, although total banks’ bids reached RON 1.47bn. The average yield for the 2-year treasury bonds slightly rose to 5.53% from 5.50% in the [...] >> mai mult >>
mai 15, 2012
Despite a 44% YoY decline in top line to cRON 25m, 26% below our estimate at RON 33.7m, the EBITDA stood double YoY at RON 10.1m, 20% above our forecast, with the margin improving significantly to 41% compared to 11% in Q1’11 and 25% in our numbers. Overall, Q11 results were weak with the [...] >> mai mult >>
mai 15, 2012
Antibiotice improved its profitability during the first quarter and posted an EBITDA of RON 23.12m (+34% YoY), with the margin increasing to 32% compared to 24.3% in Q1’11 and 25% in our forecast. Impacted by the net financial loss of RON 2.4m vs. a profit of RON 3.3m in the same period last [...] >> mai mult >>
mai 14, 2012
According to the European Commission’s Spring Report, Romania’s 2012 GDP growth is projected at 1.4%, backed by the domestic demand, while Romania’s 2013 GDP growth is seen at 2.9%. Also, investment is expected to be an important driver in 2012, while credit activity is set for a [...] >> mai mult >>
mai 14, 2012
NSI: Annual inflation hits new record low of 1.8% in April.
According to the National Statistics Institute, consumer prices rose by 0.07% on the month in April, as a consequence of the 0.11% MoM drop in the prices of food products, while prices of nonfood products rose by 0.17% MoM and services prices were up 0.17% MoM, leading the annual inflation rate down [...] >> mai mult >>
mai 14, 2012
Transelectrica (TEL RO) reported today Q1’12 RAS set of results posting a bottom line of RON 44.4m (10% below our forecast) compared to RON 160.9m in the same period of last year, burdened by 33% lower EBITDA YoY on significantly weaker margins at 17% vs. 30% in Q1’11. Furthermore, the [...] >> mai mult >>
mai 11, 2012
The Ministry of Public Finance borrowed yesterday RON 1.39bn from banks, by selling state bonds with a 4-year maturity period at an average yield of 6.09%, the scheduled value of the auction being RON 1bn, while total banks’ bids reached RON 2.28bn. (Source: Ministry of Public Finance) [...] >> mai mult >>
mai 11, 2012
FOB-CIF trade deficit in the first quarter of 2012 stood at EUR 1.69bn, EUR 183m higher compared to Q1’11 as imports grew 1.1% YOY (in EUR terms) to EUR 12.7bn, and exports fell by 0.4% YOY (in EUR terms) to EUR 10.99bn. (Source: National Statistics Institute) [...] >> mai mult >>
mai 11, 2012
BVB posted Q1’12 revenues of RON 5m, 16% lower YoY, on decreasing trading revenues (-21% YoY). The EBITDA stood at RON 1.8m, 41% lower YoY, on lower operating margins YoY at 36% vs. 52% in Q1’11. Supported by higher FX gains and the interest income cashed, the net financial [...] >> mai mult >>
mai 10, 2012
IMF unlocked EUR 475m as part of the precautionary loan.
According to Mission Chief Jeffrey Franks, the IMF and Romania reached an agreement to unlock EUR 475m from its EUR 3.6bn, after completing the fifth quarterly review. The IMF also agreed to allow the country to widen its budget deficit to accommodate the public-sector wage increase. (Source: [...] >> mai mult >>
mai 10, 2012
Despite the 5% YoY decline in sales to RON 39.5m, stronger operating margins supported the profitability 2.2x higher YoY. Recall that the company will publish full set of Q1’12 results on 15th of May. (Source: Vrancart) [...] >> mai mult >>
mai 10, 2012
mai 10, 2012
FONDUL PROPRIETATEA (FP RO): FP published the shareholders’ structure as of 30th of April.
Romanian private individuals’ stake in the paid-up capital slightly decreased from 31.437% to 31.403%, while foreign individuals now hold a 8.474% vs. 8.805% stake at the end of March. Foreign institutional investors own now 47.535% vs 48.147% at the end of March while Romanian institutional [...] >> mai mult >>
mai 9, 2012
Q1’12 E&P EBIT stood at RON 1,704m (+35% YOY) driven by higher Ural average crude oil price at USD/bbl 117.49, +14% YOY, and strict cost management. Total production stood at 16.71 mn boe, below 17.08 mn boe in Q4’11 and the 16.78 mn boe in Q1’11, due to the harsh weather in [...] >> mai mult >>
mai 9, 2012
The end-2012 inflation forecast is within the central bank’s target of 3.0% with one percentage point variation band on either side, while for 2013 BNR targets 2.5% end-year inflation. According to the National Bank Governor Mugur Isarescu, although in the first quarter of the year the [...] >> mai mult >>
mai 9, 2012
Cooperation agreement between the Bucharest and London Stock Exchanges has been signed.
According to the head of Brokers Association Dan Paul, the agreement between the two stock exchanges could help support the authorities in selling the companies subject to privatization on the international market. Recall that the Economy Minister intends to sell stakes in Transgaz, Romgaz, [...] >> mai mult >>
mai 8, 2012
mai 8, 2012
According to Prime Minister Victor Ponta, negotiations with the IMF, WB and EC led to a 0.35ppt hike in the budget deficit target for 2012 to 2.25% of GDP, considered enough to fund the projects proposed by the new Government. The PM stated that under no circumstances will the budget deficit rise [...] >> mai mult >>
mai 8, 2012
Romania sold RON 750m in 1-year T-bills, at flat yields.
Romania sold in an auction on Monday one-year Treasury bills worth RON 750m, at an average yield of 5.02% flat compared to previous auction on 9th of April. The finance ministry has sold RON 31.78bn and USD 2.25bn worth of government paper so far this year compared to RON 50.4bn and EUR 2.86bn last [...] >> mai mult >>
mai 8, 2012
Management convenes shareholders on 6th of July to approve a special dividend of 0.122 RON/share, implying a 16.45% yield to last closing price, which will be paid out of the reserves made up of previous years’ dividends not claimed by the entitled holders within the legal time frame. [...] >> mai mult >>
mai 7, 2012
The Parliament is expected to endorse the new Cabinet today.
The new cabinet of Social Democrat leader Victor Ponta will ask the legislative’s endorsement today, after the parliamentary commissions will hear and most likely clear the nominated ministers. Recall that on Thursday, the premier-designate handed to the Parliament the official list of the [...] >> mai mult >>
mai 7, 2012
According to a survey conducted by Reuters and Austrian financial services company OeKB, the confidence of foreign companies in the Romanian business environment has strongly improved during February-April period, from 14 points in October-January to 28 points in February-April, as the business [...] >> mai mult >>
mai 7, 2012
Media: Romania's Jan-Apr consolidated budget gap at 0.8% of the GDP.
January-April consolidated budget deficit stood at 0.8% of the GDP projected for this year, local media reported; while in April alone, the budget gap reached 0.25% of GDP. In Q1’12 Romania had a consolidated budget deficit of RON 3.4bn (0.56% of GDP). Recall that the government targets a [...] >> mai mult >>
mai 7, 2012
NSI: Q1’12 volume of retail trade up 4.5% YOY.
Seasonally adjusted retail sales in the first quarter of the year advanced by 4.5% YOY, backed by a 9.2% YOY increase of the fuel retail sales, and a 5.1% hike of food, beverage and tobacco sales, while non-food sales rose 1.4% YOY. In March, seasonally adjusted retail sales rose by 3.1% YOY (up [...] >> mai mult >>
mai 7, 2012
IMF approved pension and wage hikes, starting with June 1st.
According to incoming Finance Minister Florin Georgescu, negotiations with the International Monetary Fund resulted in state workers’ wages and pensions first increase of 8% as of June 1st, as the representatives of the IMF and EC agreed to gradually restore public sector wages to their June [...] >> mai mult >>
mai 7, 2012
mai 7, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 0.85m shares worth RON 1.06m during 26th of April – 3rd of May, at an average price ranging between 1.2353-1.2649 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 12.83m shares (0.72% stake) worth RON 13.63m at an average price of 1.0354 [...] >> mai mult >>
mai 4, 2012
Prime Minister Victor Ponta pledges to undo wage cuts and keep prudent policy.
Romania’s new designated Prime Minister, Victor Ponta, stated he plans to reverse public-sector wage cuts after the 25% cut in 2010, while pursuing a prudent fiscal policy and continuing an accord with the International Monetary Fund and the European Union. The new government plans to seek a [...] >> mai mult >>
mai 4, 2012
NSI: Industrial production price indices up 5.8% YOY in March.
According to a statement released by the National Statistics Institute, industrial production price indices posted an annual increase of 5.8% and a monthly advance of 1% in March, increasing for the fourth month in a row, as the water supply and waste management sector registered the highest advance [...] >> mai mult >>
mai 4, 2012
Tender Group signed the concession agreement with the Management and Cooperation Agency between Senegal and Guinea - Bissau (AGC). If a commercial discovery is confirmed, Tender Group has the right to exploit it. However, until the block will be confirmed a commercial discovery or not, exploration [...] >> mai mult >>
mai 4, 2012
The shareholders structure following the merger will be as follows: the State 77.17%, FP 21.54%, Termoelectrica 0.85% and an insolvent company 0.44%. (Source: Fondul Proprietatea) [...] >> mai mult >>
mai 3, 2012
NBR: The foreign currency reserves down by EUR 268m in April to EUR 34.33bn.
The foreign currency reserves of the National Bank (BNR) have decreased by EUR 268m to EUR 34.33bn at the end of April, following inflows of EUR 698m representing funds cashed into the European Commission’s account, funds cashed by the Finance Ministry and changes in the minimum FX reserves of [...] >> mai mult >>
mai 3, 2012
NBR: The Central Bank has decided to keep the key interest rate at 5.25% on political turmoil.
The Central Bank has also decided to maintain the current ratio of minimum reserve requirements for both RON and foreign currency-denominated liabilities. After political instability triggered a RON sell-off which fell to a record low against the EURO, the Central Bank has decided to keep the key [...] >> mai mult >>
mai 3, 2012
mai 3, 2012
The EBITDA landed 9% higher YoY at RON 3.3m vs. RON 3m in Q1’11 due to a 7% increase in revenues, while the margin stood stable at 6%. However, a net financial result of RON 0.1m vs. RON 0.5m in the same period last year trimmed the bottom line down to RON 2.3m. (Source: Farmaceutica Remedia) [...] >> mai mult >>
mai 3, 2012
mai 2, 2012
The Finance Minister and Deputy Prime Minister was appointed Florin Georgescu the Secior Deputy Governor of the NBR; ex-head of the National Agency for Fiscal Administration, Daniel Chitoiu, was appointed Economy Minister; and Lucian Isar was appointed Minister Delegate for Business Environment. [...] >> mai mult >>
mai 2, 2012
At first sight, our forecasted bottom line at RON 76.3m stood 17% below the reported numbers mainly due to higher assumed provisions at RON 100m compared to RON 83.9m in IFRS restated figures. Overall we maintain our overall positive view on the stock and we will revert with further details after [...] >> mai mult >>
mai 2, 2012
Shareholders approved a share capital increase from 1,773m RON up to RON 1,903m, by issuing 129.38m new shares at a face value of 1 RON/share. Shareholders also voted a convertible subordinated bond issue worth EUR 30m and the buy-back of maximum a 0.84% stake at a price range between a minimum [...] >> mai mult >>
mai 2, 2012
AEROSTAR BACAU (ARS RO): The Central Depository registered Aerostar’s share capital increase.
The Central Depository registered Aerostar’s share capital increase from RON 29m previously to RON 37m, approved in April 2011 shareholders meeting, by raising the face value of a share from RON 0.25 to RON 0.32 per share. The company stated that it targets to attract funds in order to support [...] >> mai mult >>
aprilie 30, 2012
We will revert with further details. (Source: BRD-GSG) >> mai mult >>
aprilie 30, 2012
During the Shareholders General Meeting of OMV Petrom held on the 27th of April, the shareholders approved a gross dividend of 0.031 RON/share from 2011 profits vs. a dividend of 0.0177 RON/share last year. Shareholders have also approved FY11 financials and 2012 Guidance. Ex-dividend date was set [...] >> mai mult >>
aprilie 30, 2012
During the Shareholders General Meeting of power grid operator Transelectrica held on the 26th of April, the shareholders approved a gross dividend of 1.1 RON/share from 2011 profits vs. a dividend of 0.116 RON/share last year. Shareholders have also approved FY11 financials, 2012 Guidance and [...] >> mai mult >>
aprilie 30, 2012
During Friday’s Shareholders General Meeting, the shareholders approved FY11 results, 2012 guidance and a gross dividend of 0.13 RON/share, 73% higher YoY, implying a 9.4% yield to last closing price. Ex-dividend date was set 11th of May. (Source: SIF Oltenia) [...] >> mai mult >>
aprilie 30, 2012
During Thursday’s Meeting of Shareholders, they approved FY11 financial, 2012 guidance and a dividend of 0.1 RON/share (-2.9% YoY), implying a yield of 9.7% to last closing price. Ex-dividend date was set 16th of May. (Source: SIF Banat Crisana) [...] >> mai mult >>
aprilie 27, 2012
Censure motion against Ungureanu Government to be debated and voted today.
According to media, the opposition was yesterday just four votes short of the 231 (half plus one of all MPs) for passing the no-confidence vote against the Government. At this time, opposition can count on 153 votes in the House and 70 votes in the Senate, in total 223 votes, so the motion may be [...] >> mai mult >>
aprilie 27, 2012
Q1’12 budget deficit stood at RON 3.4bn, at 0.56% of GDP, within target set by IMF.
According to a statement released by the Ministry of Public Finance, Romania’s budget deficit stood at RON 3.4bn in the first quarter of 2012 (0.56% of GDP) compared to RON 5.19m in the same period last year (1% of GDP). Budget revenues rose by 9.9% YoY to RON 45.7bn (+0.3% as a share of GDP) [...] >> mai mult >>
aprilie 27, 2012
According to the Central Bank’s press release, total RON-denominated loans dropped 0.3% YTD and FX-denominated loans expressed in RON increased by 1.1% in March 2012 compared to December 2011, supported by a 0.7% YTD increase in corporate RON-denominated loans and a 1.1% YTD rise in corporate [...] >> mai mult >>
aprilie 27, 2012
The Ministry of Public Finance borrowed yesterday RON 225.95m from banks, by selling state bonds with a 15-year maturity period at an average yield of 6.58%. The scheduled value of the auction was RON 200m, while RON 225.95m were tendered although total banks’ bids reached RON 554.59m. [...] >> mai mult >>
aprilie 27, 2012
Shareholders approved a payout ratio of 97% and a gross dividend of 2.1417RON/share, three times higher compared to last year dividend of 0.7015 RON/share. (Source: BVB) [...] >> mai mult >>
aprilie 27, 2012
Turbomecanica reported H1’11 results and posted a net loss of RON 3.07m compared to a loss of RON 2.16m in Q1’11 burdened by still high opex. Furthermore, bottom line was also hurt by a negative financial result of RON 1.04m vs. a profit of RON 1.6m in the same period last year. (Source: [...] >> mai mult >>
aprilie 26, 2012
The Ministry of Transportation (97% stake) offers for sale 163 million shares with a face value of 2.5 RON/share and targets to attract EUR 7.5m. According to media, the offer might start in May. Other shareholders are: Compania de Aeroporturi Bucuresti (1.6%), ROMATSA (1.3%) and SIF Muntenia [...] >> mai mult >>
aprilie 26, 2012
The shareholders approved a new buy-back program for maximum 1.1bn shares during next 18 months at a price range between 0.2-1.5 RON/share; having as object the share capital decrease. Also shareholders approved the share capital will be reduced by cancelling the 240.3m repurchased by the company, [...] >> mai mult >>
aprilie 26, 2012
During yesterday’s General Meeting, shareholders approved a 92% payout ratio and a gross dividend of 29.76 RON/share from 2011 profits vs. a dividend of 28.77 RON/share last year. Transgaz downwards revised FY11 preliminary bottom line by 3.2% to RON 379.5m (+0.9% YoY), due to slightly higher [...] >> mai mult >>
aprilie 25, 2012
aprilie 25, 2012
Shareholders will also vote to approve the buyback operation of 1.1b shares, representing c8% of FP‘s share capital. (Source: Fondul Proprietatea) >> mai mult >>
aprilie 25, 2012
aprilie 24, 2012
EUROSTAT: Romania posted among the lowest government debt to GDP ratios in the EU in 2011.
According to a statement released by Eurostat, the EU’s government debt to GDP ratio rose to 82.5% in 2011 from 80% in 2010, while in the euro area the ratio increased to 87.2% in 2011 from 85.3% in 2010, as Romania registered a 33.3% government debt to GDP ratio in 2011, ranking forth in a [...] >> mai mult >>
aprilie 24, 2012
OMV Petrom’s hydrocarbon production decreased to 184,000 boe/day (-1.07% YOY) in the first quarter accounting for 61.5% of total hydrocarbon production of the OMV Group, as severe weather conditions in Romania contributed to the reduced hydrocarbon production. Although oil price increased in [...] >> mai mult >>
aprilie 24, 2012
FONDUL PROPRIETATEA (FP RO): FP to unblock 0.22m shares.
According to a statement released by Fondul Proprietea, the company will unblock 0.22m shares worth RON0.22m, owned by the State as the result of the compensation of the free shares received by the Fund from Hidroelectrica, following a share increase with the value of the land for which [...] >> mai mult >>
aprilie 23, 2012
IMF mission to start the fifth quarterly review of Romania’s standby agreement tomorrow.
A joint IMF and EC mission will arrive in Bucharest on the 24th of April and stay until the 7th of May, in order to discuss upon the fifth quarterly evaluation of the precautionary stand-by agreement. (Source: IntelliNews) [...] >> mai mult >>
aprilie 23, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 0.56m shares worth RON 0.66m during 12th – 19th of April, at an average price ranging between 1.1608-1.2008 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 11.26m shares (0.63% stake) worth RON 11.7m at an average price of [...] >> mai mult >>
aprilie 23, 2012
aprilie 20, 2012
Ministry of Public Finance tendered RON 625m in 5-year treasury bonds at an average yield of 6.14%.
The Ministry of Public Finance borrowed yesterday RON 625m from banks, by selling state bonds with a five year maturity period at an average yield of 6.14%. The scheduled value of the auction was RON 500m, while RON 625m were tendered although total banks’ bids reached RON 1.4bn. (Source: [...] >> mai mult >>
aprilie 20, 2012
CMA: Romania, a safer debtor than Spain, Italy or Hungary.
Romania ranks 21st in Q1 this year, after dropping five places in a top of countries with the riskiest debts, according to British company CMA. Romania is also considered less risky than Portugal, Ireland, Iceland, Croatia, Slovenia, the Emirates of Bahrain and Dubai. Romania’s CDS for 5 years [...] >> mai mult >>
aprilie 20, 2012
The transaction price was 1.07 RON/share, 2.9% above closing price at 1.04 RON/share. According to media, behind the transaction stands Dragos Bilteanu, who now holds a 5% stake in SIF1 after several transactions made through different companies. Dragos Bilteanu is member in SIF1 BoD since April [...] >> mai mult >>
aprilie 20, 2012
Recall that a group of shareholders holding a c10% stake requested the revise of 2011 financials, a much higher dividend and rejected the proposed guidance. Yesterday SIF4 management explained the delayed publishing of the shareholders decisions due to “certain differences of interpretation of [...] >> mai mult >>
aprilie 20, 2012
SIFS (SIF1 RO, SIF2 RO, SIF3 RO, SIF4 RO, SIF5 RO): SIFs consider proposing the same nominee for Erste’s Supervisory Board. (Source: Wall-Street.ro) >> mai mult >>
aprilie 20, 2012
CASA DE BUCOVINA CLUB DE MUNTE (BCM RO): Shareholders approved yesterday 2011 financials and a gross dividend of 0.00899 RON/share, implying a 11.6% yield to last price. (Source: Bucovina Club de Munte) [...] >> mai mult >>
aprilie 19, 2012
Construction output in Romania rose 5.2% YOY in February (up 1.7% MoM), ranking second among EU Member States on annual and monthly rise of construction output, while EU’s construction output dropped 9.4% YOY (down 3.7% MoM) and euro area construction output tumbled 12.9% YOY (down 7.1% MoM) [...] >> mai mult >>
aprilie 19, 2012
According to Stefan Nanu, Romania’s representative within the World Bank, talks between the WB and Romanian Government regarding the EUR 1bn credit line will run until the end of April, while the actions agreed must be completed by the end of May, including reforms in energy, public finance [...] >> mai mult >>
aprilie 19, 2012
Mark Gitenstein, US Ambassador: Romania should not rely only on European funds and taxes, the economy must be financed also through the stock exchange. (Source: Wall-Street.ro) >> mai mult >>
aprilie 19, 2012
aprilie 19, 2012
The shares are currently traded at a price of 14.3 RON/share and market cap stands at EUR 354m. The money will be used for investments into new assets. NEPI is also listed on stock exchanges in Johannesburg, London and Bucharest, but the local market transactions are very low. (Source: NEPI, ZF.ro) [...] >> mai mult >>
aprilie 18, 2012
NSI: Unemployment rate reached 7.4% at the end of 2011, versus 7.3% in 2010, under the ILO methodology. (Source: INS) >> mai mult >>
aprilie 18, 2012
EUROSTAT: EU annual inflation stood at 2.9% in March 2012.
According to a statement released by Eurostat, Euro area annual inflation stood at 2.7% in March 2012, flat compared to February 2012 and to March 2011, while EU annual inflation was stable at 2.9% in March 2012, unchanged compared to February 2012, down from 3.1% in March 2011. Recall that [...] >> mai mult >>
aprilie 18, 2012
NBR: FDI up ten times MoM in February 2012 to EUR 230m, compared to EUR 23m in January 2012.
According to a statement released by the Central Bank of Romania, the FDI rose to EUR 230m in February 2012, from EUR 23m in January 2012, while in the first two months of 2012 the FDI dropped 22% YOY. The current account posted an EUR 663m deficit in the first two months of the year, up 64% YOY, [...] >> mai mult >>
aprilie 18, 2012
Romanian Post privatization deadline postponed for end 2012, early 2013.
Communications Minister, Razvan Mustea, announced that the privatization of the Romanian Post will be over at the end-2012 or Q1’13 rather than June 2012 as agreed with the IMF, the initially set deadline being unrealistic. He also stated that in Romtelecom’s case, the Ministry of [...] >> mai mult >>
aprilie 18, 2012
Romanian private individuals’ stake in the paid-up capital slightly rose from 31.437% to 31.679%, while foreign individuals now hold a 8.483% vs. 8.805% stake at the end of March. Foreign institutional investors held own now 48.263% vs 48.147% at the end of March while Romanian institutional [...] >> mai mult >>
aprilie 18, 2012
OLTCHIM (OLT RO): Romania received 4 non-biding bids for OLT’s majority stake.
The 4 bidders are: PCC SE, minor shareholder with a 32.3% stake in OLT, JSC TISE and two Romanian companies, Pegamont SA and AISA Invest SA, according to a statement issued by the Economy Ministry. Based on the negotiation of the preliminary non-binding offers, the ministry will organize an auction [...] >> mai mult >>
aprilie 17, 2012
FONDUL PROPRIETATEA (FP RO): FP’s March NAV up 2.45% YoY at RON 15.99bn or RON 1.1922 per share.
Fondul Proprietatea’s (FP) NAV increased in February on the back of the monthly increase in the value of listed shares. Also, the Fund’s exposure to Austria decreased from 1.43% in February to 1.37% in March. Also, according to the March report, State’s stake stood at 2.66%, [...] >> mai mult >>
aprilie 17, 2012
This proposal has been submitted because the full distribution of dividends to participation certificate holders takes precedence over the distribution of dividends to shareholders, and after the dividends have been distributed to the participation certificate holders no more distributable profit [...] >> mai mult >>
aprilie 17, 2012
Shareholders approved that dividend will be paid starting with 1st of August, until 11th of October 2012. (Source: Farmaceutica Remedia) [...] >> mai mult >>
aprilie 17, 2012
CEMACON (CEON RO): CEON could bring BCR as shareholder to cut debt.
Management intends to attract BCR, the company’s main creditor, as shareholder being willing to give a maximum 20% stake in order to reduce the debt to the bank. (Source: ZF.ro)
[...] >> mai mult >>
aprilie 17, 2012
aprilie 13, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program. TLV acquired another 0.77m shares worth RON 0.88m during 5th – 11th of April, at an average price ranging between 1.1312-1.1658 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 10.7m [...] >> mai mult >>
aprilie 13, 2012
ELECTROMAGNETICA (ELMA RO): Shareholders approved a gross dividend of 0.004 RON/share (2.2% yield to last closing price). Shareholders did not approve the merger with Procel and respectively the share capital increase by RON 0.03m following the merger. (Source: Electromagnetica) [...] >> mai mult >>
aprilie 12, 2012
AZOMURES, FONDUL PROPRIETATEA (AZO RO, FP RO): FP requested a new point on 29th of April agenda – the approval of a gross dividend of 0.4165RON/share, implying a 21.7% yield to the last closing price. Reference date was set today, 12th of April. (Source: Azomures) [...] >> mai mult >>
aprilie 12, 2012
SIF MUNTENIA, ERSTE BANK (SIF4 RO, EBS RO): SIF4 completed the sale of the 6% stake in BCR.
According to a statement released by SIF Muntenia, the management has signed the binding transaction agreement with Erste Group, to sell its remaining 51.51m BCR shares worth RON 53.49m. Up to date, SIF1, SIF2, SIF3 and SIF4 sold their entire stakes in BCR, while SIF Oltenia is the only [...] >> mai mult >>
aprilie 12, 2012
Other main point on the agenda is the approval of a buy-back program targeting a maximum 10% stake with a price range between 0.1-0.25 RON/share for a maximum period of 18 months, with a view to reduce the share capital. Reference date is set 16th of April. (Source: Romcarbon) [...] >> mai mult >>
aprilie 11, 2012
NSI: Inflation rate drops to 2.4%, a new low on falling food prices.
The annual rate dropped to 2.4%, the lowest in two decades, versus 2.6% in February. Food prices dropped 0.9%YoY in March, compared with a 0.4% YoY decline in February; while non-food items prices slowed 3.9% YOY vs. 4.1% in February. Service prices rose 5.4% YoY. (Source: National Statistics [...] >> mai mult >>
aprilie 11, 2012
SIF BANAT CRISANA, ERSTE BANK (SIF1 RO, EBS RO): SIF1 completed the sale of the 6% stake in BCR.
According to a statement released by SIF Banat Crisana, the management has signed the binding transaction agreement with Erste Group, to sell its 6% stake in BCR Bank. Up to date, SIF1, SIF2 and SIF3 sold their entire stakes in BCR, while SIF4 currently holds 51.51m BCR shares to be sold at a price [...] >> mai mult >>
aprilie 10, 2012
FOB-CIF February trade deficit stood at EUR 511.7m, EUR 100.6m higher compared to February 2011 as imports were up 2.2% YOY (in EUR terms) to EUR 4.02bn, as imports within the EU advanced by 3.2% as those outside the EU fell 0.7% YoY. In February, exports fell by 0.4% YOY (in EUR terms) to EUR [...] >> mai mult >>
aprilie 10, 2012
SIF Moldova requested a new point on the convening note, the approval of the buy-back of maximum 15 million shares with a face value of 1RON/share, with a price range between a minimum price equal to the market price at that time and a maximum of 2RON/share. (Source: Banca Transilvania) [...] >> mai mult >>
aprilie 10, 2012
aprilie 9, 2012
The Extraordinary SGA did not meet the required quorum at the second convening on Friday. Main point on the agenda was the vote to approve a share capital increase aiming to triple the current share capital from RON 51.9m up to RON 155.7m RON by issuing a number of 1.03bn shares at a face value of [...] >> mai mult >>
aprilie 9, 2012
FONDUL PROPRIETATEA (FP RO): FP published the shareholders’ structure as of end-March.
Romanian private individuals’ stake in the paid-up capital slightly fell from 32.45% to 31.437%, while foreign individuals now hold a 8.805% vs. 9% at the end of last month. Foreign institutional investors own now 48.147% vs 46.71% at the end of February while Romanian institutional investors [...] >> mai mult >>
aprilie 6, 2012
aprilie 6, 2012
aprilie 6, 2012
aprilie 6, 2012
SIF Moldova’s shareholders will meet again today, the quorum requirement being 50% for the second meeting. Main points on the agenda are the approval of a gross dividend of RON 0.22 per share (17% yield at last closing price), and of a share capital increase aiming to triple the current share [...] >> mai mult >>
aprilie 6, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 0.68m shares worth RON 0.76m during 29th of March – 4th of April, at an average price ranging between 1.0974-1.1530 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 9.9m shares (0.56% stake) worth RON 10.15m at an average price of 1.0052 [...] >> mai mult >>
aprilie 4, 2012
NSI: Retail trade turnover up by 5.2% YoY in Jan-Feb.
Retail trade turnover, except auto vehicles and motorcycles, grew by 5% in the first two months of the year as gross series and by 5.2% as data adjusted to the number of working days and seasonality. Car fuels retail rose 11.7%, foodstuffs, beverages and tobacco retail gained 5.7% and non-food [...] >> mai mult >>
aprilie 4, 2012
NSI: Industrial production prices up 0.8% MoM in February, +5.9% YoY.
NSI: Industrial production prices up 0.8% MoM in February, +5.9% YoY. (Source: NSI) >> mai mult >>
aprilie 4, 2012
ARTEGO Tg. Jiu (ARTE RO): Shareholders approved a gross dividend 0.2381 RON/share, implying a 8.5% yield to last closing price. (Source: Artego) >> mai mult >>
aprilie 3, 2012
IMF: Romania to post a strong growth of 3.5-4% in 2013-2016.
According to an IMF report, IMF estimates for Romania an 1.5% economic growth this year, fueled by a gradual appreciation of private domestic demand and increased absorption of EU funds; followed by a 3.5-4% growth during 2013-2016. (Source: BankNews.ro) [...] >> mai mult >>
aprilie 3, 2012
Tarom airline to be listed in June.
According to a document published by IMF, the deadline for the publication of the prospectus for the 20% stake sale was set May. Recall that in December the Ministry of Transport and Infrastructure signed the intermediary agreement for the listing of the 20% stake. (Source: Realitatea.net) [...] >> mai mult >>
aprilie 3, 2012
NSI: Unemployment rate (ILO methodology) landed in February at 7.1% vs. 7.2% last month and flat compared to February 2011. (Source: National Statistics Institute) >> mai mult >>
aprilie 3, 2012
PRODPLAST (PPL RO): Prodplast suspends operations indefinitely starting with 1st of May as part of an extensive relocation process. (Source: Prodplast) >> mai mult >>
aprilie 2, 2012
SIF OLTENIA (SIF5 RO): SIF5 subscribed 17% of TEL SPO worth RON 27.6m and increased its stake in Transelectrica from 2.57% up to 5.1%. (Source: Transelectrica, Mediafax.ro) >> mai mult >>
aprilie 2, 2012
SIF OLTENIA (SIF5 RO): Media - SIF5 in talks for higher price for the sale of its stake in BCR.
According to ZF, citing unidentified people in the market, SIF Oltenia is seeking a higher price for its minority stake in Banca Comerciala Romana after agreeing last year to sell it to Erste Group Bank and receive RON 124m in cash and swap some BCR shares to EBS shares. SIF5 increased its stake in [...] >> mai mult >>
martie 30, 2012
NBR: Key interest rate hits a new all-time record low of 5.25%.
The National Bank of Romania yesterday cut the key-interest rate by 0.25 percentage points from 5.5% to 5.25%, a new all-time record low. Since the beginning of this year, the central bank has reduced the key-interest by a total of 0.75%, by successive 0.25%. (Source: National Bank of Romania) [...] >> mai mult >>
martie 30, 2012
Romanian Treasury to ease borrowing from local market in Q2.
Romania’s Treasury plans to borrow between RON 12bn and RON 14bn from the local market in Q2’12 through several bills and bonds issues. In the first quarter, the Treasury launched 20 issues with maturities ranging from 6 to 185 months and with a combined target size of RON 14.5bn, plus [...] >> mai mult >>
martie 29, 2012
The collaboration agreement targets five key business areas: Primary Markets, Seminars and Training, Proquote market data and trading solutions, FTSE and Post Trade services. (Source: BVB)
[...] >> mai mult >>
martie 29, 2012
NSI: building permits, down 7.3% YOY in January-February period over the same period in 2011.
NSI: building permits, down 7.3% YOY in January-February period over the same period in 2011. (Source: National Statistics Institute) [...] >> mai mult >>
martie 29, 2012
According to a statement released by the National Statistics Institute, managers estimate an upward evolution for the manufacturing and construction sectors, while retail and services sectors are seen slightly higher between March – May 2012 compared to the previous three months. (Source: [...] >> mai mult >>
martie 27, 2012
Management convenes shareholders on April 27 to approve a 92% payout ratio of and a gross dividend of 29.76 RON/share from 2011 profits vs. a dividend of 28.77 RON/share last year. Transgaz downwards revised FY11 preliminary bottom line by 3.2% to RON 379.5m (+0.9% YoY), due to slightly higher [...] >> mai mult >>
martie 27, 2012
The EBITDA is seen at RON 6,775m, 11% below our forecast on lower guided depreciation charges, while management targets an almost flat YoY bottom line of RON 3,784m, but 11% above our forecast at RON 3,410m mainly on an assumed financial loss of RON 320m compared to a guided financial profit of [...] >> mai mult >>
martie 27, 2012
TRANSELECTRICA (TEL RO): Investors subscribed 55.21% in TEL’s SPO
TRANSELECTRICA (TEL RO): Investors subscribed 55.21% in TEL’s SPO and it needs further subscriptions up to a 70% rate in order to be successful. The deadline is today. (Source: ZF.ro) >> mai mult >>
martie 26, 2012
Management convenes shareholders on April 27 to approve a gross dividend of 0.031 RON/share from 2011 profits vs. a dividend of 0.0177 RON/share last year. Shareholders will also approve FY11 financials and 2012 Guidance. Reference date was set April 17. (Source: OMV Petrom) [...] >> mai mult >>
martie 26, 2012
ATB convenes Extraordinary SGA on the 26th of April to approve a share capital increase by RON 17.26m up to RON 740.5m through capitalization of 2011 and previous years’ dividends. New shares will be allocated based on a 0.303831466 rate. (Source: BSE) [...] >> mai mult >>
martie 23, 2012
ARMATURA Cluj Napoca (ARM RO): Share capital to be reduced from RON 20m to RON 4m following the decrease of the face value from 0.5 RON/share to 0.1 RON/share following a shareholders decision back in February 2011. (Source: Armatura)
[...] >> mai mult >>
martie 23, 2012
Reference date was set April 12. (Source: Dafora) >> mai mult >>
martie 23, 2012
DAFORA Medias (DAFR RO): Dafora acquired 48,725 shares in Foraj Sonde Videle on March 15, increasing its holding to 41.41%. (Source: Dafora) [...] >> mai mult >>
martie 23, 2012
The buy-back price range will be 0.1-0.3 RON/share. The program has as objective shares capital reduction. Reference date was set April 13. (Source: Boromir) [...] >> mai mult >>
martie 23, 2012
Management convenes shareholders on April 26 to approve a gross dividend of 0.00335902 RON/share from 2011 profits vs. a dividend of 0.003 RON/share last year. Shareholders will also approve FY11 financials, 2012 Guidance and investment plan. Reference date was set April 16. (Source: OIL [...] >> mai mult >>
martie 23, 2012
Management convenes shareholders on April 26 to approve a gross dividend of 1.1 RON/share from 2011 profits vs. a dividend of 0.1160 RON/share last year. Shareholders will also approve FY11 financials, 2012 Guidance and investment plan. Reference date was set April 11. (Source: [...] >> mai mult >>
martie 23, 2012
Management convenes shareholders on April 27 to approve a share capital increase from 1,773m RON up to RON 1,903m, by issuing 129.38m new shares at a face value of 1 RON/share. Shareholders will also vote to approve a convertible subordinated bond issue worth EUR 30m. Reference date was [...] >> mai mult >>
martie 22, 2012
ANTIBIOTICE (ATB RO): Management continues previous years’ dividend policy and proposed a share capital increase by 29% up to RON 73.28m. (Source: Antibiotice) [...] >> mai mult >>
martie 22, 2012
Management convenes shareholders on 26th of April to approve a 97% payout ratio and a gross dividend of 2.1417 RON/share from 2011 profits vs. a dividend of 0.7015 RON/share last year. Shareholders will also vote to approve the buy-back of maximum 76,740 shares to be repurchased during next 18 [...] >> mai mult >>
martie 22, 2012
Management convenes shareholders on 26th of April to approve a gross dividend of 0.0812 RON/share from 2011 profits vs. a dividend of 0.2998 RON/share last year. Shareholders will also approve FY11 financials, 2012 Guidance and investment plan. Reference date was set 13th of April. (Source: Zentiva) [...] >> mai mult >>
martie 22, 2012
Reference date was set 12th of April. (Source: Azomures) >> mai mult >>
martie 22, 2012
AZOMURES (AZO RO): ZF.ro - Ameropa finalized AZO’s takeover through Pelican Fertilizers
According to ZF.ro, Chimcomplex Constanta (CHEM RO) issued a report stating that Pelican Fertilizers now owns 100% of Eurofert Investments and 100% of Azomures Holdings, AZO’s main shareholders holding together a 75.8% stake. Azomures holds a 90.42% stake in Chimcomplex. Recall that on Monday [...] >> mai mult >>
martie 21, 2012
According to a statement issued by SIF1 yesterday, Romenergo acting in a concerted manner with Industrialexport SRL, Aris Consult Invest SRL and Bilteanu Dragos George now holds 27.442m shares in SIF Banat Crisana, accounting for a 4.99% stake in the company. (Source: SIF Banat Crisana) [...] >> mai mult >>
martie 21, 2012
Management convenes shareholders on 23rd of April to approve a 75% payout ratio and a gross dividend of 0.01 RON/share from 2011 profits vs. a dividend of 0.0055 RON/share last year. Shareholders will also approve FY11 financials, 2012 Guidance and investment plan. Reference date was set 13th of [...] >> mai mult >>
martie 21, 2012
BURSA DE VALORI BUCURESTI (BVB RO): The National Commission of Financial Markets in Moldova authorized BVB to acquire a 5% stake in Moldova Stock Exchange. Furthermore, the Moldavian market operator received the license to use ARENA trading system, developed by BVB. (Source: BVB) [...] >> mai mult >>
martie 21, 2012
European Investment Fund and TLV have signed a loan agreement worth EUR 7.5m to support Romanian microenterprises and self-employed entrepreneurs. (Source: Banca Transilvania) [...] >> mai mult >>
martie 21, 2012
AMONIL (AMO RO): Management convenes shareholders on 26th of April with main points on the agenda the approval of FY11 results and 2012 guidance. Reference date was set 13th of April. (Source: Amonil) [...] >> mai mult >>
martie 21, 2012
TURBOMECANICA (TBM RO): Management convenes shareholders on 26th of April with main points on the agenda the approval of FY11 results and 2012 guidance. Reference date was set 13th of April. (Source: Turbomecanica) [...] >> mai mult >>
martie 21, 2012
ELECTROPUTERE Craiova (EPT RO): Management to lay off 350 employees during 1st of May – 1st of December 2012. (Source: Electroputere) [...] >> mai mult >>
martie 20, 2012
The Ministry of Economy signed yesterday the listing of a 15% stake in Romgaz on BSE.
The Ministry of Economy signed with the listing consortium the contract for intermediating the listing on the Bucharest Stock Exchange (BVB) of a 15% stake in natural gas producer Romgaz Medias. According to the official announcement, the financial and consulting services related to preparing, [...] >> mai mult >>
martie 20, 2012
Romania sold RON 1.0bn in 1-year T-bills, at higher yields.
Romania sold in an auction on Monday one-year Treasury bills worth RON 1.0bn, at an average yield of 5.31% up from 5.27% at a previous auction on 12th of March. The finance ministry has sold RON 24.85bn and USD 2.25bn worth of government paper so far this year compared to RON 50.4bn and EUR 2.86bn [...] >> mai mult >>
martie 20, 2012
Recall that the Government intends to sell its entire stake (54.8%) and up to now the following groups shown their interest in the company: Tise (Russia), Forte (UAE), Rompet Rogas (Romania) and PCC (Germany). Oltchim’s current market cap stands at RON 391m or EUR 90m. (Source: Bursa.ro) [...] >> mai mult >>
martie 20, 2012
OMV PETROM (SNP RO): Bulgarian subsidiary accused to have breached antitrust regulations.
OMV Bulgaria OOD, a 99.9% subsidiary of OMV Petrom S.A., has been notified upon an alleged breach of antitrust regulations by the Bulgarian Commission for Protection of Competition. The alleged breach concerns a number of the key players on the Bulgarian fuels market. Bulgarian authorities provided [...] >> mai mult >>
martie 20, 2012
SOCEP Constanta (SOCP RO): Management convenes shareholders on 26th of April with main points on the agenda the approval of FY11 results and 2012 guidance. Reference date was set 13th of April. (Source: Socep) [...] >> mai mult >>
martie 19, 2012
Recall that in November last year, Eurofert Investments LLC and Azomures Holdings LLC on one side (Azomures’s controlling shareholders) and Ameropa Holding AG, on the other side, had signed a series of agreement to acquire an indirect majority participation in AZO. (Source: Azomures) [...] >> mai mult >>
martie 19, 2012
FONDUL PROPRIETATEA (FP RO): Management convenes shareholders on 25th of April to approve the proposed dividend of 0.03854 RON/share (6.57% yield to last closing price). Shareholders will also vote to approval the buy-back of maximum 1.1bn shares to be repurchased during next 18 months after the [...] >> mai mult >>
martie 19, 2012
Management convenes shareholders on 24th of April to approve a 91% payout ratio and a gross dividend of 0.09 RON/share from 2011 profits vs. a dividend of 0.22 RON/share last year. Shareholders will also approve FY11 financials, 2012 Guidance and investment plan. Reference date was set 13th of [...] >> mai mult >>
martie 19, 2012
Management convenes shareholders on 19th of April to approve a gross dividend of 0.009 RON/share from 2011 profits vs. no dividend last year. Shareholders will also approve FY11 financials, 2012 Guidance and investment plan. Reference date was set 9th of April. (Source: BCM) [...] >> mai mult >>
martie 19, 2012
ALUMIL ROM INDUSTRY (ALU RO): Management convenes shareholders on 20th of April to approve FY11 results, 2012 guidance and investment program. Reference date was set 6th of April. (Source: Alumil) >> mai mult >>
martie 16, 2012
TRANSELECTRICA (TEL RO): Investors subscribed a 3.15% in two days worth RON 5.2m
Retail investors subscribed 5.7% while institutional investors subscribed 2.86%. Recall that in order to be considered successfull, the offer has to be subscribed at least 70%. (Source: ZF.ro). >> mai mult >>
martie 16, 2012
CONCEFA Sibiu (COFI RO): Sibiu Court admitted the opening of the insolvency proceedings
Following the request to open insolvency proceedings by reorganization filed by the debtor, Concefa, Sibiu Court decided on 14th of March 2012, the opening of the general insolvency by admiting the debtor's application. (Source: Concefa). [...] >> mai mult >>
martie 15, 2012
FONDUL PROPRIETATEA (FP RO): FP’s February NAV up 10.26% YTD at RON 16.03bn or RON 1.1951 per share
Fondul Proprietatea’s (FP) NAV increased in February on the back of the monthly increase in the value of listed shares. Also, the Fund continued to increase its exposure to Austria from 1.4% in January to 1.43% in February. Also, according to the February report, State’s stake stood at [...] >> mai mult >>
martie 15, 2012
Management convenes shareholders on 19th of April to approve a gross dividend of 0.0188 RON/share from 2011 profits vs. RON 0.0376 per share last year. Reference date was set 10th of April. (Source: Comelf) [...] >> mai mult >>
martie 15, 2012
Recall that in order to be considered successfull, the offer has to be subscribed at least 70%. >> mai mult >>
martie 13, 2012
NSI: Annual inflation hits new record low of 2.59% in February.
According to the National Statistics Institute, consumer prices rose by 0.64% on the month in February, as a consequence of the 1.21% MoM increase in the prices of food products, while prices of nonfood products rose by 0.4% MoM and services prices were up 0.13% MoM, leading the annual inflation [...] >> mai mult >>
martie 13, 2012
FOB-CIF October trade deficit stood at EUR 462.8m, EUR 251.5m higher compared to January 2011 as imports were up 8.2% YOY (in EUR terms) to EUR 3.93bn, as imports within the EU advanced faster than those outside the EU, namely by 10.3% YOY compared to a 3.1% increase. In January, exports grew by [...] >> mai mult >>
martie 13, 2012
Romania sold RON 2.49bn in 1-year treasury bills, at lower yields.
Romania sold in an auction on Monday RON 2.49bn in one-year T-bills, at an average yield of 5.27% compared to 5.8% achieved at the previous auction in February. The finance ministry has sold RON 23.79bn and USD 2.25bn worth of government paper so far this year vs. RON 50.4bn and EUR 2.86bn of debt [...] >> mai mult >>
martie 13, 2012
TRANSELECTRICA (TEL RO): The Government will approve today the price range for the 15% SPO
TRANSELECTRICA (TEL RO): TEL is suspended from trading today as the Government will approve the price range at which the 15% secondary public offering will be brought to the market. (Source: Transelectrica) >> mai mult >>
martie 13, 2012
OLTCHIM (OLT RO): Shareholders approved yesterday to begin the selection procedures for new executive and non-executive managers.(Source: Oltchim) >> mai mult >>
martie 12, 2012
Management convenes shareholders on 12th of April to approve a 18% payout ratio and a gross dividend of 0.004 RON/share from 2011 profits vs. no dividend last year. Furthermore, shareholders will vote on the merger with Procel and on the share capital increase by RON 0.03m following the merger. [...] >> mai mult >>
martie 12, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 1.07m shares worth RON 1.15m during 1st - 8th of March, at an average price ranging between 1.0295-1.122 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 7.0m shares worth RON 6.9m at an average price of 0.9776 RON/share ranging between a low of [...] >> mai mult >>
martie 12, 2012
ARMATURA Cluj Napoca (ARM RO): Management convenes shareholders on 26th of April to approve FY11 results, 2012 guidance and investment program. Reference date was set 13th of April. (Source: Armatura) >> mai mult >>
martie 9, 2012
The news was confirmed by the Head of the Office of State Ownership and Privatisation in Industry (OPSPI), Laurentiu Florin Vladan, and the Competition Council chairman Bogdan Chiritoiu. However, management stated it was not officially notified by the authorized institutions regarding the European [...] >> mai mult >>
martie 9, 2012
FONDUL PROPRIETATEA (FP RO): The Central Depositary unlocked 4.98m FP shares
FONDUL PROPRIETATEA (FP RO): The Central Depositary unlocked 4.98m FP shares owned by the State as the result of the compensation of the free shares received by the Fund from Hidroelectrica. Recall that 365.84m shares owned by the State are currently blocked as unfully paid. (Source: Fondul [...] >> mai mult >>
martie 9, 2012
Management convenes shareholders on 24th of April to approve a 93% payout ratio and a gross dividend of 0.35 RON/share from 2011 profits vs. 0.31 RON/share in 2010 (+13% YoY), implying a 5.2% yield to last closing price. Furthermore, another dividend of RON 0.2 per share is proposed from 2009 and [...] >> mai mult >>
martie 8, 2012
NSI: Industrial turnover up 4.7% YoY in January, down 10.6% MoM.
Industrial sales declined by 10.6% MoM in January dragged down by a 10.5% MoM drop in manufacturing industry and a 11.4% MoM decline in the mining sector. On yearly basis, industrial turnover rose 4.7% supported by the manufacturing and the mining sector up 4.8% and 3.8%, respectively. (Source: [...] >> mai mult >>
martie 8, 2012
NSI: Industrial new orders surge 12.5% MoM in January, down 2.3% YOY.
Industrial new orders dropped 2.3% YOY in January, as intermediary goods declined by 7.9% YOY, while durable goods industry dropped 2.8% YOY. On monthly basis, industrial new orders jumped 12.5% backed by a 26.2% advance in intermediary goods and a 7% gain in capital goods, while durable goods [...] >> mai mult >>
martie 8, 2012
TRANSELECTRICA (TEL RO): Moody’s reaffirmed TEL’s “Baa3” rating with stable outlook.
However, Moody's considers that there is some regulatory risk due to relatively rigid mechanism of pricing by the Regulatory Authority (ANRE), especially on the recovery on time of the costs associated with investments. (Source: Transelectrica) [...] >> mai mult >>
martie 8, 2012
Management convenes shareholders on 11th of April to approve FY11 financial, 2012 guidance and investment program and a dividend of 0.02 RON/share vs. 0.01RON/share in 2010, implying a yield of 8.7% to last closing price. Reference date was set 2nd of April. (Source: Farmaceutica Remedia) [...] >> mai mult >>
martie 6, 2012
Construction industry recorded in Q4’11 the highest increase in volume of activity (+5.7%), followed by agriculture, forestry and fishing (+3.1%) and industry (2.0%). 2011 GDP is estimated at RON 578.55bn in current prices (+2.5% YoY in real terms). The increase was significantly driven by [...] >> mai mult >>
martie 6, 2012
Management convenes shareholders on 26th of April to approve FY11 results, 2012 guidance and a dividend of 0.13 RON/share, 73% higher YoY, implying a 9.2% yield to last closing price. Reference date was set 30th of March. (Source: SIF Oltenia) [...] >> mai mult >>
martie 6, 2012
IMPACT DEVELOPER&CONTRACTOR (IMP RO): The Managing Authority for Regional Operational Program(AMPOR) rejected the project financing and the financing request for the business support center Greenfield 2. The ruling is not final. AMPOR decision will be appealed in court. (Source: Impact) [...] >> mai mult >>
martie 6, 2012
TRANSGAZ (TGN RO): Shareholders approved yesterday to begin the selection procedures for new executive and non-executive managers. (Source: Transgaz) [...] >> mai mult >>
martie 6, 2012
Management proposed the decrease of the capital by cancelling 77,153 shares subscribed in 2008 but unpaid within 3 years and the cancelling of 3,807 shares undistributed by the Central Depositary. No dividend was proposed by management. Reference date was set 29th of March. (Source: Artrom) [...] >> mai mult >>
martie 5, 2012
NSI: Investments up by over 9% YoY last year.
Compared to 2010, investments in the economy grew last year by 9.2% to RON 64.529bn in current prices following a 22.1% YoY growth in Q4’11. In the last quarter of 2011 growth was registered in the case of all structural elements, such as means of transportation and new construction works. [...] >> mai mult >>
martie 5, 2012
Management convenes shareholders on 26th of April to approve FY11 results, 2012 guidance and a dividend of 0.1712 RON/share, 5.7x higher YoY, implying a 24.6% yield to last closing price. Reference date was set 26th of March. (Source: SIF Transilvania) [...] >> mai mult >>
martie 5, 2012
Management convenes shareholders on 25th of April to approve FY11 financial, 2012 guidance and a dividend of 0.1 RON/share (-2.9% YoY), implying a yield of 8% to last closing price. Reference date was set 28th of March. (Source: SIF Banat Crisana) [...] >> mai mult >>
martie 5, 2012
No dividend was proposed by the management. Another point on the agenda is the approval of a credit line worth RON 15m. Registration date was set 20th of March. (Source: THR Marea Neagra) [...] >> mai mult >>
martie 5, 2012
Recall that no dividend was proposed by the management. Registration date was set 26th of March. (Source: Santierul Naval Orsova) [...] >> mai mult >>
martie 2, 2012
NSI: Unemplyment rate landed in January at 7.2%, down 0.3pp compared to December.
NSI: Unemplyment rate landed in January at 7.2%, down 0.3pp compared to December. (Source: National Statistics Institute) >> mai mult >>
martie 2, 2012
SIF Muntenia swapped 515.1m BCR shares for EBS shares and now only holds a stake to be cashed, worth cRON 53.5m. (Source: SIF Muntenia) >> mai mult >>
martie 2, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 0.71m shares worth RON 0.72m during 23rd – 29th of February, at an average price ranging between 1.0204-1.0311 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 5.9m shares worth RON 5.76m at an average price of 0.9684 RON/share ranging [...] >> mai mult >>
martie 2, 2012
Employees will be paid 80% of their base salary for the duration of the technical unemployment. (Source: Oltchim) >> mai mult >>
martie 1, 2012
TITAN (MPN RO): Titan starts the distribution of dividends today, worth of RON 4.9m.
TITAN (MPN RO): Titan starts the distribution of dividends today, worth of RON 4.9m. (Source: Mopan) [...] >> mai mult >>
martie 1, 2012
TRANSELECTRICA (TEL RO): Shareholders approved yesterday the start of the procedures for the selection of new executive and non executive managers. (Source: Transelectrica) [...] >> mai mult >>
martie 1, 2012
CONDMAG (COMI RO): Management convenes shareholders on 6th of April with main point on the agenda the approval in principle of the merger by absorption between COMI and Flowtex Technology as absorbed company. Reference date was set on 23rd of March. (Source: Condmag) [...] >> mai mult >>
martie 1, 2012
As a result, the total number of Erste Group shares rose from 390,767,262 to 394,568,647 and the subscribed share capital increased by EUR 7.6m to EUR 789.13m. The first trading date of these newly issued shares will be announced later. (Source: Erste Bank) [...] >> mai mult >>
februarie 28, 2012
Romania sold 6-month treasury bills worth RON 500m at an average yield of 5.2%, the lowest average yield ever paid for RON denominated state notes. (Source: Mediafax) [...] >> mai mult >>
februarie 28, 2012
ROPHARMA Brasov (RPH RO): Management convenes shareholders on 2nd of April to approve FY11 financial results and 2012 guidance. No dividend was proposed.(Source: RoPharma) >> mai mult >>
februarie 28, 2012
Recall that the government has authorized Transelectrica to limit or even cease electricity exports during February 16 - March 15 in case of emergencies as the local energy consumption rose to a 10-year high in February due to extremely cold weather. (Source: Transelectrica) [...] >> mai mult >>
februarie 27, 2012
Budget surplus stood at RON 1bn in January, at 0.2% of the GDP.
The budget surplus stood at RON 1bn in January (0.2% of the GDP) compared to RON 800m in the same period last year, the Finance Ministry stated in a report. Budget revenues rose by 11.3% YoY to RON 16.3bn (+0.1% as a share of GDP) with VAT up 15.4%, excises +41.7% and income tax +17.8%. On costs [...] >> mai mult >>
februarie 27, 2012
OLTCHIM Rm. Valcea (OLT RO): Oltchim to be privatized in April.
The announcement for the privatization of chemical plant Oltchim shall be released on 15th of March, stated OLT’s former President of the BoD, Constantin Dascalu; and the plant will be privatized in April, as agreed with the IMF. The State currently holds a 54.8% stake, PCC acting in a [...] >> mai mult >>
februarie 24, 2012
European Commission cuts Romania’s 2012 GDP growth outlook from 2.1% to 1.6%.
The European Commission explained the revision saying it expects growth to be negatively affected by uncertainties in the financial markets and by the euro-area sovereign-debt developments. Exports to the rest of the EU (70% of the country’s exports) are expected to be less dynamic and should [...] >> mai mult >>
februarie 24, 2012
NBR: End-January M3 money supply rose 8.8% YoY.
Romania's M3 money supply rose to RON 216.67bn at the end of January, up 0.2% than a month earlier. In real terms, the M3 money supply dropped 0.1% MoM and 5.9% up YoY. (Source: National Bank of Romania) [...] >> mai mult >>
februarie 24, 2012
Romania to wrap up the 10% stake IPOs of Hidroelectrica and Nuclearelectrica in October.
According to Florin Laurentiu Vladan, head of the Office for State Participations and Industry Privatization (OPSPI), October was set as deadline for both IPOs. Companies interested in managing the listing of Hidroelectrica can place their bids by 1st of March, while the announcement for [...] >> mai mult >>
februarie 24, 2012
BANCA TRANSILVANIA (TLV RO): TLV continued the buy-back program.
TLV acquired another 0.58m shares worth RON 0.59m during 16th – 22nd of February, at an average price ranging between 1.0233-1.0388 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of 5.2m shares worth RON 5m at an average price of 0.9636 RON/share ranging [...] >> mai mult >>
februarie 22, 2012
OMV PETROM (SNP RO) reported today FY11 IFRS preliminary bottom line 7% higher YOY to RON 838.2m
OMV PETROM (SNP RO) reported today FY11 IFRS preliminary set of results posting a 21% higher YoY Q4’11 EBIT of RON 1,182m (6% below our forecast, 4% above consensus) supporting the bottom line 7% higher YOY to RON 838.2m, 11% below our estimates and 1% below consensus. Overall, top line stands [...] >> mai mult >>
februarie 22, 2012
Wind power company Eolica Dobrogea summoned on 3rd of January the National Regulatory Authority for Energy, the national power grid company Transelectrica, deputy general manager Cornel Ene and former general manager of Transelectrica, Horia Hahaianu, for refusing to connect Eolica’s wind farm [...] >> mai mult >>
februarie 22, 2012
NBR: Romania sold 5-year treasury notes worth RON 2.54bn at a lower yield of 6.36%.
According to NBR data, Romania sold RON 2.54bn in 2-year treasury notes on Monday, with the average accepted yield declining to 6.36% below 6.87% at a previous tender on 5th of January. The finance ministry has sold RON 17.63bn and USD 1.5bn worth of government paper so far this year compared to RON [...] >> mai mult >>
februarie 22, 2012
SIF MUNTENIA (SIF4 RO): SIF4 did not meet the legally sufficient quorum
SIF MUNTENIA (SIF4 RO): SIF4 did not meet the legally sufficient quorum for the Extraordinary Meeting of Shareholders yesterday having as main point on the agenda the hike of the 1% threshold to 5%. (Source: SIF Muntenia) >> mai mult >>
februarie 20, 2012
The proposed dividend stands above our forecast at RON 0.04 per share due to a higher than assumed payout ratio of 100% vs. 50% in our numbers. Registration date was set 19th of March. (Source: SIF Muntenia) [...] >> mai mult >>
februarie 20, 2012
SIF BANAT CRISANA (SIF1 RO): Romenergo acting in a concerted manner now holds a 5% stake in SIF1.
According to a statement issued by SIF1 on Friday, Romenergo acting in a concerted manner with Industrialexport SRL, Aris Consult Invest SRL and Bilteanu Dragos George now holds 27.44m shares in SIF Banat Crisana, accounting for an 5% stake in the company. (Source: SIF Banat Crisana) [...] >> mai mult >>
februarie 20, 2012
Erste announced on Friday it intends to accept for purchase up to an aggregate nominal amount or liquidation preference, as applicable, of EUR 500m outstanding of the Tier 1 Securities. The tender Offer period will be 17th February – 2nd March 2012. (Source: Erste Bank) [...] >> mai mult >>
februarie 20, 2012
MECHEL Targoviste (COS RO): Company temporarily stopped production activities on Friday due to difficulties in raw materials procurement following the extremely difficult weather conditions. Management expects to restart production on 27th of February. (Source: Mechel Targoviste) [...] >> mai mult >>
februarie 17, 2012
NBR: Romania sold 5-year treasury bonds at a lower yield of 6.75%.
According to NBR data, Romania sold RON 500m in 5-year treasury bonds on Thursday, with the average accepted yield at 6.75%, below the 7% at a previous tender on 19th of January. (Source: Agerpres) [...] >> mai mult >>
februarie 17, 2012
BANCA TRANSILVANIA, SIF BANAT CRISANA (TLV RO, SIF1 RO): TLV along with its subsidiaries sold 21.96m SIF1 shares during last two days worth RON 29.8m, decreasing their holding in SIF1 by 4% down to 0.43%. Source: Banca Transilvania) >> mai mult >>
februarie 17, 2012
BANCA TRANSILVANIA (TLV RO): TLV continued the buy-back program.
TLV acquired another 0.4m shares worth RON 0.46m during 9th – 15th of February, at an average price ranging between 1.045-1.0548 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of c4.6m shares worth RON 4.4m at an average price of 0.9574 RON/share ranging [...] >> mai mult >>
februarie 17, 2012
CONCEFA Sibiu (COFI RO): Management decided yesterday to file for insolvency
CONCEFA Sibiu (COFI RO): Management decided yesterday to request the opening of insolvency proceedings in order to reorganize the activity. (Source: Concefa) >> mai mult >>
februarie 17, 2012
VRANCART Adjud (VNC RO): Management convenes shareholders on 28th of March to approve FY11 financial results. No dividend was proposed. (Source: Vrancart) >> mai mult >>
februarie 17, 2012
BIOFARM Bucuresti (BIO RO): Biofarm posted yesterday FY11 preliminary RAS results posting a bottom line of RON 14.5m, flat YoY and 14% below our forecast mainly on slightly higher than assumed operating expenses and a financial loss of RON 0.9m vs. an expected profit of RON 1m in Q4. Despite posting [...] >> mai mult >>
februarie 17, 2012
FY11 RAS preliminary bottom line landed at RON 230m, up 44% and 10% below our forecast, burdened by weaker margins. At first sight, FY11 top line stood at RON 2,241m, 24% higher YoY and in line with our forecast at RON 2,244m, while higher than assumed opex burdened the EBITDA to RON 451.2m (+16% [...] >> mai mult >>
februarie 17, 2012
NSI: Romania’s 2011 GDP up 2.5%, first estimate.
Romania’s GDP dropped 0.2% (adjusted series) in Q4’11 compared to Q3’11, while compared to Q4’10, GDP advanced 1.9% (+2.1% adjusted series). (Source: National Statistics Institute) [...] >> mai mult >>
februarie 17, 2012
FONDUL PROPRIETATEA (FP RO): Fund management intends to recommend its shareholders, based on the dividend policy, an estimated FY11 gross dividend of 0.038 RON/share, implying a 7.25% yield to last closing price, in line with our estimate at RON 0.0383 RON per share. (Source: Fondul Proprietatea) [...] >> mai mult >>
februarie 17, 2012
PREFAB (PREH RO): Management convenes shareholders on 29th of March to approve a buy-back program.
Management proposes the repurchase of a maximum 10% stake, respectively 4.85m shares, during an 18-month period, at a price ranging between 0.5RON – 7RON per share. Payment will be made from available reserves as of 2011 financials. Shares repurchased will then be distributed to managers and [...] >> mai mult >>
februarie 15, 2012
FY11 preliminary results were spot on our forecasts with a slight divergence from incremental revenues recorded from reversal of impairment and provision adjustments. The company has also released 2012 guidance with total revenues 8% lower YoY at RON 529.5m which are broadly in line with our [...] >> mai mult >>
februarie 15, 2012
Overall, FY11 bottom line was supported by unexpected high revenues at RON 2,940m (+28% YoY, 8% above our forecast, 14% above consensus) lifting the EBITDA 31% higher YoY to RON 460.5m (16% below our forecast, 6% below consensus) and improving the margin to 16% vs. 14% in 2010. The net financial [...] >> mai mult >>
februarie 15, 2012
Despite still high fertilizers prices in Q4’11, AZO posted a 10% lower YoY Q4’11 bottom line of RON 57.92m, burdened by increasing operating expenses. However, the EBITDA landed at RON 64.15m (-11% YoY) while the margin moderated to 19% vs.22% in Q4’10. Overall, Azomures posted [...] >> mai mult >>
februarie 15, 2012
FONDUL PROPRIETATEA (FP RO): FP’s January NAV up 4.6% YTD at RON 15.13bn or RON 1.1290 per share.
Fondul Proprietatea’s (FP) NAV increased in January on the back of a 14% monthly increase in the value of listed shares up to RON 5.49bn while the unlisted holdings stood flat at RON 9.15bn. Cash dropped 26.4% MoM to RON 1.4m while bank deposits dropped 9.7% to RON 267m compared to RON 296m in [...] >> mai mult >>
februarie 15, 2012
FONDUL PROPRIETATEA (FP RO): New members for the Board of Nominees.
According to a statement issued by FP, Sorin Mihai Mindrutescu was elected Chairman of the Board, following the resignation of Bogdan Alexandru Dragoi as member of the Board of Nominees. Furthermore, Julian Healy was appointed as interim member of the Fund’s Board of Nominees, following the [...] >> mai mult >>
februarie 15, 2012
DAFORA Medias, FORAJ SONDE Videle (DAFR RO, FOJE RO): Dafora acquired a 28.62% stake in petroleum and natural gas extraction company FOJE on 13th of February. (Source: Dafora) >> mai mult >>
februarie 14, 2012
NSI: Romanian inflation rate drops to record low of 2.7% in January, on food prices.
According to the National Statistics Institute, Romania’s inflation rate dropped to a new post-communism low in January, at 2.7% compared to 3.1% in December, faster than economists estimated (3%). Food-price growth eased to 0.1% YoY in January vs. a 0.95% growth in December, on falling [...] >> mai mult >>
februarie 14, 2012
Romania sold RON 1.5 bn in 1-year T-bills, yields dropped to 5.8%.
According to the Central Bank data, Romania sold RON 1.5bn in one-year Treasury bills in an auction on Monday, nearly double the RON 800m offer. The average yield fell to 5.8% from 5.9% achieved at the previous auction on February 6th. The finance ministry has sold RON 14.59bn and USD 1.5bn worth of [...] >> mai mult >>
februarie 14, 2012
At first sight, bottom line landed slightly below our forecast at RON 22.1m on higher taxation, with the EBITDA at RON 48.7m, in line with our forecast at RON 48.3m, while margins slightly deteriorated to 17.3% vs. 18% in 2010 and 18.1% in our forecast. After a fine tune of our numbers, we will [...] >> mai mult >>
februarie 14, 2012
OIL TERMINAL Constanta (OIL RO): Management decided on 13th of February to reduce the working hours from a 5-day week to a 4-day week until better economic conditions or no later than 30th of April 2012. (Source: Oil Terminal) >> mai mult >>
februarie 14, 2012
IMPACT DEVELOPER&CONTRACTOR (IMP RO): East Capital Bering Balkan Fund reported to hold on behalf of Salink Limited a 10.1% stake in Impact. (Source: Impact) >> mai mult >>
februarie 13, 2012
FY11 revenues dropped 1.7% YoY to RON 209.05m compared to RON 212.75m in 2010, hurting the EBITDA to RON 7.7m vs. RON 22.2m in FY10 and significantly reducing the margin from 10% to 4%. However, the net financial loss was reduced by 9% YoY from RON 3.5m in 2010 to RON 3.19m. (Source: Teraplast) [...] >> mai mult >>
februarie 13, 2012
According to a statement issued by the Central Depositary, Popp Ioan Dan owns a 16.5% stake in IMP, SALIK Limited holds a 10.1% stake, while free-float stands at 73.4%. (Source: Impact) >> mai mult >>
februarie 13, 2012
NSI: Constructions volume (seasonal adjusted data) up 0.5% YoY, down 0.6% MoM in December.
According to the seasonally adjusted data released by National Statistics Institute, constructions volume surged 0.5% YOY in December, with residential buildings up 24.7% YOY (down 5.2% MoM) as non-residential buildings were down 6.7% YOY (+4.2% MoM). New constructions rose 7.8% YOY (up 3.6% MoM) as [...] >> mai mult >>
februarie 13, 2012
In December 2011 alone, the country's industrial output was up 1.4% on the year and remained flat compared to November 2011. The activity expanded in all industrial sectors in 2011, the 6.3% YOY surge in utilities outperformed the 6.2% YOY increase in manufacturing and the 4.8% rise in extraction. [...] >> mai mult >>
februarie 10, 2012
BVB posted today a FY11 preliminary bottom line of RON 16.9m supported by 66% YoY higher revenues at RON 21.7m (9% above our estimates) on increasing trading revenues (+72% YoY) following FP’s listing in January 2011 and the upward trend recorded by the structured products market every quarter [...] >> mai mult >>
februarie 10, 2012
Romanian Parliament endorsed the cabinet proposed by PM-Designate Ungureanu.
Romania’s Parliament approved yesterday the cabinet lineup proposed by Prime Minister-designate Razvan Ungureanu. Recall that Razvan Ungureanu was nominated by President Traian Basescu as prime minister-designate on Monday after Emil Boc resigned. (Source: Mediafax) [...] >> mai mult >>
februarie 10, 2012
NSI: December 2011 FOB-CIF trade deficit at EUR 1.02bn, exports continue to rise at a fast pace.
FOB-CIF December trade deficit was EUR 1,020.6m, EUR 177m higher compared to December 2010. Overall, in 2011 imports were up 16.7% YOY (in EUR terms) to EUR 5.47bn, as imports outside the EU advanced at a similar pace with those within the EU, namely by 16.2% YOY compared to a 16.9% increase, EUR [...] >> mai mult >>
februarie 10, 2012
Shareholders also request Franklin Templeton to present a specific plan not later than May 31, 2012 setting forth all formalities necessary for the listing on the Warsaw Stock Exchange, and to schedule a shareholders meeting to vote on all such necessary matters not later than June 30, 2012. [...] >> mai mult >>
februarie 9, 2012
The EBITDA landed 38% higher YoY at RON 10.1m vs. RON 7.3m in FY10 due to a slight decline in operating expenses, while the net financial loss stood at RON 0.16m below the loss of RON 0.73m in 2010. (Source: Farmaceutica Remedia) >> mai mult >>
februarie 9, 2012
Recall that according to the public sector reforms program agreed with the IMF as part of the stand-by arrangement, the Economy Ministry has to call tenders for the appointment of private managers at one-fourth of the companies in which it still holds majority stakes. (Source: Oltchim) [...] >> mai mult >>
februarie 9, 2012
The company invested USD 58.4m in primary aluminum facilities, USD 3m in processed aluminum and USD 15.6m in Alum Tulcea. According to management, the investments allowed the company to increase production from 240,000 tons of primary aluminum in 2005 to 288,000 tons in 2008, without a significant [...] >> mai mult >>
februarie 9, 2012
IMPACT DEVELOPER & CONTRACTOR (IMP RO): IMP decreased its share capital from RON 200m to RON 197.86m by cancelling a number of 2.13m repurchased shares. Source: Impact) >> mai mult >>
februarie 9, 2012
CONCEFA Sibiu (COFI RO): Concefa signed this week an agreement with the National Railway Company, for the execution of modernization works on a railway station, worth RON 20.8m (excluding VAT).(Source: Concefa) >> mai mult >>
februarie 8, 2012
The end-2012 inflation forecast is within the central bank’s target of 3.0% with one percentage point variation band on either side, while for 2013 BNR targets 2.5% end-year inflation. Recall that end-2011 inflation stood at 3.14%, within the central bank’s target band of 2.0%-4.0%. [...] >> mai mult >>
februarie 8, 2012
CONCEFA Sibiu (COFI RO): The stake held by ING Pension Funds in COFI was diluted to 4.84% from 5.13% as it did not participate in the November share capital increase. (Source: Concefa) >> mai mult >>
februarie 8, 2012
TRANSELECTRICA (TEL RO): Transelectrica 15% SPO to start on 29th of February.
According to media citing sources from the market, the sale of the 15% stake in TEL is scheduled to begin on 29th of February and extend through the first half of March. (Source: EconomicTimes.ro) [...] >> mai mult >>
februarie 8, 2012
Despite the 11% YoY advance in top line to RON 5.39m compared to RON 4.85m in the same period last year, the EBITDA landed slightly lower at RON 7m vs. RON 7.3m in FY10 due to higher operating expenses. The net financial profit dropped 7.6% YoY from RON 0.9m to RON 0.84m. (Source: Bucovina Club de [...] >> mai mult >>
februarie 7, 2012
J. Franks: Romania may delay share sales this year.
According to Jeffrey Franks, the International Monetary Fund mission chief to the country, Romania may delay the sale of shares in a few state owned companies this year due to the high number of approvals needed from authorities. Romania pledged to sell this year the 9.4% stake in OMV Petrom [...] >> mai mult >>
februarie 7, 2012
Romanian designated Prime Minister seeks Government formation.
Following Emil Boc’s resignation, the newly designated Prime Minister, Mihai Razvan Ungureanu, will begin talks today on forming a Cabinet. (Source: Mediafax) >> mai mult >>
februarie 7, 2012
Ministry of Finance sold 1-year bonds worth RON 1.85bn, at a 5.9% yield.
The Ministry of Public Finance sold on Monday one-year bonds worth a total RON 1.85 bln, above the target of RON 1.5bn. For February, the Ministry of Finance scheduled seven auctions to attract RON 5bn in bonds and T-bills, including a 15-year bonds issue worth RON 300m. (Source: Mediafax) [...] >> mai mult >>
februarie 7, 2012
ELECTROMAGNETICA, SIF OLTENIA (ELMA RO, SIF5 RO): SIF5 increased its stake in ELMA from 17.8% to 20.78% after it acquired 20.18m shares last Friday. (Source: Electromagnetica) [...] >> mai mult >>
februarie 7, 2012
According to a report issued by SIF1, it swapped 296.18m BCR shares with 2.31m Erste shares as part of the agreement signed last year. (Source: SIF Banat Crisana) [...] >> mai mult >>
februarie 7, 2012
FONDUL PROPRIETATEA (FP RO): FP published the shareholders’ structure as of end-January.
State’s stake stands at 0.04% of the paid-up share capital vs. 0.02% at the end of December as the Fund Manager is in the process of unblocking a number of 4.98m shares belonging to the Romanian State. Romanian private individuals’ stake in the paid-up capital slightly fell from 35.86% [...] >> mai mult >>
februarie 6, 2012
IMF and EC revised downwards this year’s growth estimate to 1.5-2% from 1.8% -2.3%, due to the recession expected in the euro area and worsening of conditions on the international markets. (Source: Mediafax) [...] >> mai mult >>
februarie 6, 2012
Liberalization of the electricity tariffs for the population - delayed until 2017.
According to Istvan Szekely, the chief of the European Commission (EC) mission in Romania, the period for the gradual liberalization of energy prices for the population was extended by two years and will take place during 2013-2017. (Source: Mediafax) [...] >> mai mult >>
februarie 6, 2012
According to a report issued by SIF4, it swaped 190.23m BCR shares with a 0.38% stake in Erste as part of the agreement signed last year. (Source: SIF Muntenia) [...] >> mai mult >>
februarie 6, 2012
FONDUL PROPRIETATEA (FP RO): FP’s paid share capital increased to RON 13.412bn.
According to a report sent by Franklin Templeton, FP’s paid capital increased by RON 4.98m following the compensation of the free shares received by the Fund from Hidroelectrica worth RON 4.9m following a share increase with the value of the land for which Hidroelectrica obtained property [...] >> mai mult >>
februarie 3, 2012
NBR: Romanian Central Bank reduced the key interest rate by 0.25 pp to all time low at 5.5%.
Romania's central bank decided on Thursday to cut the monetary policy rate to 5.50% from 5.75%, the third consecutive cut in three months. The reduction will be applied as of today, bringing along the change in the deposit facility interest rate from 1.75% to 1.5%, while the credit facility [...] >> mai mult >>
februarie 3, 2012
NSI: Industrial production price indices up 7% YOY in December.
After an 7.9% YOY gain (+0.4% MoM) of the industrial production price index in November, it posted an annual increase of 7% and a monthly advance of 0.4% in December due to increases in all sectors, as the water supply and waste management sector registered the highest advance of 27.04% YOY (+12.67% [...] >> mai mult >>
februarie 3, 2012
NSI: December volume of retail trade rose 3.9% YOY, up 0.3% MoM.
Seasonally adjusted retail sales in December advanced by 3.9% YOY, as food, beverage and tobacco sales dropped 2.2% YOY (down 0.7% MoM), and non-food items sales advanced by 10.4% YOY (up 1.2% MoM). Retail sales dropped 3.3% YOY, amid 7.1% YOY lower food, beverage and tobacco sales, while non-food [...] >> mai mult >>
februarie 3, 2012
Romania sold RON 1.3bn in 3-year T-notes at lower yields.
According to the Central Bank data, Romania sold on Thursday RON 1.3bnin three-year Treasury notes, almost double its RON 750m offer. The average yield fell to 6.79% from 6.95% at the previous auction held on January 12. The finance ministry has sold RON 11.226bn and USD 1.5bn worth of debt so far [...] >> mai mult >>
februarie 3, 2012
OMV Petrom’s hydrocarbon production increased to 186,000 boe/day (+0.54% YOY) in the fourth quarter accounting for 64% of total hydrocarbon production of the Group, as first volumes from a new exploration well contributed to production. Q4 results are also supported by the favorable oil price [...] >> mai mult >>
februarie 3, 2012
Up to date, TLV repurchased a number of c3.7m shares worth RON 3.54m at an average price of 0.9385 RON/share ranging between a low of 0.89RON/share and a high of 1.0495RON/share. (Source: Banca Transilvania) [...] >> mai mult >>
februarie 2, 2012
NBR: The foreign currency reserves down by EUR 497m in January to RON 32.69bn.
The foreign currency reserves of the National Bank (BNR) have decreased by EUR 497m to EUR 32.696bn at the end of January, following inflows of EUR 955m representing funds cashed into the European Commission’s account, funds cashed by the Finance Ministry, changes in the minimum FX reserves of [...] >> mai mult >>
februarie 2, 2012
Romania sold USD 1.5bn in first 10-year US dollar-denominated bond offering.
Romanian sold USD 1.5bn in ten-year dollar-denominated bonds on the US market on Tuesday at an average yield of 6.875%. According to Bloomberg data, Romania issued the bonds at a 6.875% yield, under a medium-term note program valued at EUR 7bn that will run until 2013. (Source: Bloomberg) [...] >> mai mult >>
februarie 2, 2012
TRANSELECTRICA (TEL RO): Securities Commission approved the preliminary prospectus for the secondary sale of a 15% stake in the national power grid company. (Source: Transelectrica) [...] >> mai mult >>
februarie 1, 2012
SIF2 wants to increase its share capital from RON 51.9m up to RON 155.7m RON by issuing a number of 1.03bn shares at a face value of RON 0.1per share. Registration date for the SGA was set 14th of March. SIF Moldova proposes a dividend payout rate of 60% and a dividend of RON 0.22 per share, [...] >> mai mult >>
februarie 1, 2012
All in all, bottom line lands 34% higher YoY at RON 130.2m, 2% above our estimate at RON 127.4m as provisions at RON 147m in Q4 (vs estimates at RON 136m) are partially offset by the lower than assumed opex. At first sight we need to fine tune our forecasts and we will revert with details. [...] >> mai mult >>
ianuarie 31, 2012
According to a statement released by the National Statistics Institute, managers estimate a relative stable evolution for the manufacturing and the services sectors, while retail is seen slightly down as constructions are expected to decline between January – March 2012 compared to the [...] >> mai mult >>
ianuarie 31, 2012
ZF: IMF may cut Romania's 2012 GDP growth forecast to 1.0%-1.5%.
According to local media, the International Monetary Fund may cut its 2012 economic growth forecast for Romania from 1.8%-2.3% to 1.0%-1.5%. The IMF mission along with the teams from the European Commission and the World Bank visits Romania for the fourth review of a precautionary stand-by [...] >> mai mult >>
ianuarie 30, 2012
FONDUL PROPRIETATEA (FP RO): Hidroelectrica shareholders approved the listing on BSE.
During the Extraordinary shareholders meeting held on 27th of January, the listing of a 10% stake on the BSE was approved. Recall that Hidroelectrica’s main shareholder is the Romanian State with a 80% stake, while 20% are held by FP. According to the latest NAV data, the stake held in [...] >> mai mult >>
ianuarie 30, 2012
However, a number of 370.82m shares remain blocked in the present, as unfully paid. (Source: FP) [...] >> mai mult >>
ianuarie 30, 2012
However, out of this amount, the company will pay an actual gross dividend of RON 0.009 per share for the 9 months of fiscal year 2011 (1st January - 30th September), given that dividends for the period October 1st - December 31st 2010, represent both the fourth quarter of 2010 and first quarter of [...] >> mai mult >>
ianuarie 30, 2012
Recall that according to the public sector reforms program agreed with the IMF as part of the stand-by arrangement, the Economy Ministry has to call tenders for the appointment of private managers at one-fourth of the companies in which it still holds majority stakes. (Source: Transgaz) [...] >> mai mult >>
ianuarie 30, 2012
SIF BANAT CRISANA (SIF1 RO): SIF1 convened SGA on 1st of March in order to amend the articles of incorporation and hike the 1% threshold to 5%. [...] >> mai mult >>
ianuarie 27, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 0.43m shares worth RON0.39m during 19th – 25th of January, at an average price ranging between 0.8978-0.9107 RON/share as part of the buy-back program. Up to date, TLV repurchased a number of c3.3m shares worth RON 3.08m at an average price of 0.933RON/share ranging [...] >> mai mult >>
ianuarie 27, 2012
ianuarie 26, 2012
FONDUL PROPRIETATEA (FP RO): FP wants to sell its energy stakes this year.
According to Greg Konieczny, Templeton explores the opportunities to sell this year the stakes held in gas and electricity companies, distributors and suppliers. The energy holdings represent almost 83% of the NAV, while IPOs and SPOs are announced for 10-15% stakes in six of these companies this [...] >> mai mult >>
ianuarie 26, 2012
TRANSELECTRICA (TEL RO): Shareholders convened on 29th of February to choose new managers.
Recall that according to the public sector reforms program agreed with the IMF as part of the stand-by arrangement, the Economy Ministry has to call tenders for the appointment of private managers at one-fourth of the companies in which it still holds majority stakes. (Source: Transelectrica) [...] >> mai mult >>
ianuarie 25, 2012
The Romgaz offer is expected in June, after the sale of a 15% stake in power-grid operator Transelectrica SA (TEL) by the end of February and after the sale of a similar stake in the natural-gas grid operator Transgaz SA by the end of April. The state owns 85% of Romgaz, while the property [...] >> mai mult >>
ianuarie 25, 2012
EBRD: Eurozone deterioration could affect Romania’s growth down to 0.8% in 2012.
The European Bank for Reconstruction and Development (EBRD) cut its forecast for the region in its latest Regional Economic Prospects report published yesterday. For Romania, the bank lowered its growth forecast this year from 1.1% to 0.8% due to the economic slowdown in the euro area. The Euro [...] >> mai mult >>
ianuarie 24, 2012
Romania sold 6-months T-bills worth RON 1.27bn at lower yields.
Romania sold on Monday six-months Treasury bills worth RON 1.27bn, above the RON 300m offer, at an average yield of 5.70% below the 6.5% yield of previous auction in November. The finance ministry has sold RON 9.926bn worth of debt so far this year compared to RON 50.4bn and EUR 2.86bn worth of debt [...] >> mai mult >>
ianuarie 24, 2012
CSSPP: Share of Romanian private pension funds NAV to rise to 1.66% of GDP this year.
According to the country's private pension system regulator (CSSPP), the share of the net assets under the management of private pension funds is expected to rise to 1.66% of GDP at end-December from 1.25% of GDP at the end of 2011. The projection considers the level of contributions will remain at [...] >> mai mult >>
ianuarie 24, 2012
TRANSELECTRICA (TEL RO): Shareholders postponed the share capital increase until Q2’12.
Transelectrica shareholders decided on 20th of January to postpone the approval of the capital hike by incorporating the value of several land plots until the second quarter of 2012. (Source: Transelectrica) [...] >> mai mult >>
ianuarie 23, 2012
The Government has approved the legal framework to set up the bridge-bank
The bridge-bank will be responsible for the take-over of the assets and liabilities of a credit institution threatened by bankruptcy, thus allowing for continuous banking services and payments of creditors. The bridge-bank represents an instrument available to the Central Bank of Romania in case a [...] >> mai mult >>
ianuarie 23, 2012
Romanian banks reported EUR 100m loss in 2011, compared to EUR 119m loss in 2010
According to media, Romanian banks posted losses of RON 430m in 2011, lower compared to RON 516m posted in 2010, recovering RON 400m in December mainly due to a RON 400m cut of provisions, from RON 31bn in November to RON 30.6bn at year-end, 22% higher compared to 2010. (Source: Mediafax, [...] >> mai mult >>
ianuarie 20, 2012
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program
TLV acquired another 0.43m shares worth RON0.39m during 12th – 18th of January, at an average price ranging between 0.8976-0.9207 RON/share as part of the buy-back program. (Source: Banca Transilvania) [...] >> mai mult >>
ianuarie 20, 2012
FONDUL PROPRIETATEA (FP RO): City of London is second major shareholder in FP, holding a 7.2% stake
Following several trades, City of London acquired a further 1.35% stake in FP since 15th of June when it reportedly held a 5.85% stake. FP’s major shareholder is Elliott Associates holding a 12.9% stake of the subscribed and paid up capital. (Source: Fondul Proprietatea) [...] >> mai mult >>
ianuarie 19, 2012
WB sees a 1.5% GDP growth for Romania in 2012
According to the latest World Bank Global Economic Prospects (GEP) report released by the World Bank yesterday, the WB forecasts for Romania are 1.5% GDP growth this year and 3% increase in 2013. (Source: NineOclock.ro)
[...] >> mai mult >>
ianuarie 19, 2012
EUROSTAT: Romania posted the highest annual increase in construction output in EU in November
Construction output in Romania increased by an annual 16.9% in November, the strongest annual rise in EU. The largest decrease was registered in Portugal (-12.2% YoY), while construction output in the EU rose by 0.7% on the year in November. (Source: SeeNews.com) [...] >> mai mult >>
ianuarie 19, 2012
Romanian Government – green light for the Hidroelectrica, Nuclearelectrica 10% stakes IPO
Romania’s government approved a plan to complete the sale of 10% minority stakes in the two energy companies by the end of 2012, an Economy Ministry official stated. FP will be able to subscribe a further 2.49% stake in Hidroelectrica and a 1.077% stake in [...] >> mai mult >>
ianuarie 18, 2012
ianuarie 18, 2012
According to a statement issued by Petrom, the construction of Brazi power plant was successfully completed by the end of 2011, but final tests were interrupted due to external technical factors. A cleaning operation is currently being performed on some of the power plant’s ancillary [...] >> mai mult >>
ianuarie 17, 2012
OLTCHIM (OLT RO): Electrica reduces electricity deliveries to Oltchim
According to a statement released by Oltchim on Monday, the Romanian state-owned power distributor Electrica has reduced power supplies to Oltchim over debts. Oltchim has been operating at reduced capacity since January 11 after failing to meet a debt repayment scheme agreed with Electrica. [...] >> mai mult >>
ianuarie 17, 2012
Private pension fund’s net assets up 48% YoY to RON 6.63bn in the first eleven months
According to the Commission for Supervision of the Private Pension System (CSSPP), monthly bulletin, the asset total grew by 2.77% compared to the end of October. The number of pension plans managed by the funds rose by an annual 6.19% to 5.48 million. Romania's voluntary pension funds reported RON [...] >> mai mult >>
ianuarie 16, 2012
Fondul Proprietatea’s (FP) NAV increased in December on the back of a 1.2% increase in the value of listed shares up to RON 4.82bn while the unlisted holdings stood flat at RON 9.15bn. Cash dropped 16.7% to RON 1.9m while bank deposits decreased in December by 5.6% to RON 296m compared to RON [...] >> mai mult >>
ianuarie 16, 2012
OMV PETROM (SNP RO): State will not extend Renaissance contract for Petrom offer
According to Florin Vladan, head of the Office for State Interests and Industrial Privatisation (OPSPI), the state is no longer willing to extend the contract with the Russians of Renaissance for the Petrom offer. (Source: Nineoclock.ro) [...] >> mai mult >>
ianuarie 13, 2012
According to a statement released by the Ministry of Public Finance, the scheduled value of the auction was RON 500m, while RON 917m were tendered although total banks’ bids reached RON 1.98bn. The average yield for the 3-year treasury bills dropped to 6.95% from 7.48% registered in the [...] >> mai mult >>
ianuarie 13, 2012
FONDUL PROPRIETATEA (FP RO): Manchester Securities Corporation owns 10.74% of FP.
According to a statement released by FP, the company Manchester Securities Corporation acquired 1.48bn shares and holds a 10.74% stake in FP, acting in a concerted manner with Beresford Energy Corporation which acquired 251m shares, holding a 1.82% stake. The companies hold together 5% voting [...] >> mai mult >>
ianuarie 13, 2012
The proposed guidance posts the energy transported at 57.5m MWh, in line with our FY12 assumption at 57.9m MWh, with total revenue down by 5.7% YoY at RON 2,623m, while total expenses are expected at RON 2,571m compared to revised guidance at RON 2.756m in 2011 (-6.7% YoY). The guidance posts a RAS [...] >> mai mult >>
ianuarie 12, 2012
NSI: Annual inflation hits again new record low of 3.14% in December.
According to the National Statistics Institute, consumer prices rose by 0.23% on the month in December, as a consequence of the 0.36% MoM increase in the prices of food products, while prices of nonfood products rose by 0.13% MoM and services prices were up 0.26% MoM, leading the annual inflation [...] >> mai mult >>
ianuarie 12, 2012
NSI: Constructions volume jumped 14% YOY, up 3% MoM in November.
According to the seasonally adjusted data released by National Statistics Institute, constructions volume surged 14% YOY (+3% MoM) in November, with residential buildings up 20.2% YOY (up 10.1% MoM) as non-residential buildings were up 3.7% YOY (+3.3% MoM). Capital repairs rose by 23.7% YOY (up 4.3% [...] >> mai mult >>
ianuarie 12, 2012
According to a statement released by the Ministry of Public Finance, the scheduled value of the auction was RON 1.20bn, while RON 2.38bn were tendered although total banks’ bids reached RON 4.43bn. The average yield for the 1-year treasury bills dropped to 6.23% from 6.55% registered in the [...] >> mai mult >>
ianuarie 12, 2012
The set of measures include removing current SGA quorum terms and awarding the BoD higher competences on issues such as capital increases and repurchases of own shares. The company also announced that the shareholders will discussed also a possible share capital increase. (Source: SIF Moldova) [...] >> mai mult >>
ianuarie 12, 2012
According to a statement issued by FP, the law no. 302/2011 setting the obligation for state-controlled companies part of FP’s portfolio to begin the listing procedures by 31st of December 2012, was published in the Official Gazette on 9th of January. The companies are from the electricity [...] >> mai mult >>
ianuarie 11, 2012
NSI: Seasonally adjusted industrial production indices up 3.2% YOY, up 0.3% MoM in November.
According to the National Statistics Institute, the electric and thermal energy production and supply sector posted the highest increase of 14.5% YOY (up 2.8% MoM), followed by the manufacturing industry with a 2% YOY increase (down 0.1% MoM), while mining sector rose 0.1% YOY (down 2% MoM) as an [...] >> mai mult >>
ianuarie 11, 2012
NSI: Industrial turnover surged by 9.6% YoY in November, up 1.1% MoM.
Industrial sales rose 9.6% YOY (up 1.1% MoM) in November backed by the manufacturing sector which advanced by 10.3% YOY (up 1% MoM), while the mining sector dropped 5.3% YOY (up 1.6% MoM). In the first eleven months of the year, industrial turnover was up 16.6% supported by the manufacturing [...] >> mai mult >>
ianuarie 11, 2012
NSI: Industrial new orders surge 5.7% MoM in November, up 14.9% YOY in Jan-November.
Industrial new orders advanced 9.2% YOY (up 5.7%) in November, as intermediary goods rose 13.8% YOY (up 13.8% MoM), non-durable goods industry hiked 10.6% YOY (up 7.9% MoM), capital goods industry increased by 6.6% YOY (down 0.2% MoM), while durable goods industry dropped 6.5% YOY (+2.3% MoM). In [...] >> mai mult >>
ianuarie 11, 2012
The Competition Council penalized OMV Petrom Marketing, OMV Petrom, Rompetrol Downstream, ENI Romania, MOL Romania Petroleum Products and Lukoil Romania with fines in total worth of RON 880.5m (EUR 205m), up to 3% of 2010 turnover, as a result of an antitrust investigation regarding the withdrawal [...] >> mai mult >>
ianuarie 11, 2012
ianuarie 10, 2012
FOB-CIF November trade deficit was EUR 899.7m, EUR 46.5m lower compared to November 2010. Imports were up 9.9% YOY (in EUR terms) to EUR 5.02bn, as imports outside the EU advanced faster than those within the EU, namely by 10.2% YOY compared to a 9.7% increase, EUR terms. In November, exports grew [...] >> mai mult >>
ianuarie 10, 2012
IMF and EC evaluation mission to arrive at the end of this month.
2012’s first International Monetary Fund (IMF) and the European Commission (EC) evaluation mission to arrive later this month. According to Public Finance Minister Ialomiteanu, Romania stayed within the budget deficit target of up to 4.4% in 2011, also considering staying within the 3% budget [...] >> mai mult >>
ianuarie 10, 2012
According to a report published by Dafora, the consortium proposal stood at RON 21.1m (excluding VAT), the term of the agreement is 12 months. At first sight the news seems positive for Dafora, but we do not yet incorporate it in our valuation as we expect a better visibility by the management on [...] >> mai mult >>
ianuarie 9, 2012
Moody’s: Romania’s economic growth seen at 2.2% in 2011, and inflation rate at 3%.
According to Moody’s Rating Agency, Romania’s GDP growth is expected to reach 2.2% in 2011 as the EU fund absorption rate is accelerated, and inflation rate is seen at 3% at the end of 2011 allowing for more relaxed monetary policies, although economic growth is affected via exports by [...] >> mai mult >>
ianuarie 9, 2012
Following the Government’s decision to extend by five years the time period for Neptun concession agreement, OMV Petrom in partnership with ExxonMobile Exploration and Production Romania Limited (EEPRL) has started drilling the first deep water exploration well in the Romanian waters of the [...] >> mai mult >>
ianuarie 9, 2012
The proposed guidance posts total revenue down by 5.7% at RON 2,623m, while total expenses are expected at RON 2,571m compared to revised guidance at RON 2.756m in 2011 (-6.7% YoY). At the moment we do not have a detailed breakdown for the proposed guidance. Recall that in our IFRS forecast we [...] >> mai mult >>
ianuarie 9, 2012
FONDUL PROPRIETATEA (FP RO): FP published the shareholders’ structure as of end-2011.
State’s stake fell to 0.02% of the paid-up share capital vs. 1.53% at the end of November. Romanian private individuals’ stake in the paid-up capital slightly fell from 36.73% to 35.86%, while foreign institutional investors own now 43.30% vs 40.89% at the end of November. The total [...] >> mai mult >>
ianuarie 6, 2012
PM Emil Boc: Romania’s GDP up almost 2% in 2011.
According to Prime Minister Emil Boc, Romania’s GDP rose by 2% YOY in 2011 while the budget deficit at the end of the year was below the target of 4.4% of GDP. Recall that the government’s projection for 2011 GDP growth was cut to 1.9-2.3%, while the WB and IMF see Romania’s [...] >> mai mult >>
ianuarie 6, 2012
NBR: Central Bank reduced key rate to 5.75% from 6%.
NBR decided yesterday to continue reducing the monetary policy rate to 5.75% from 6% previously, in order to maintain price stability and financial stability in the medium term, thus hoping to encourage lower interest rates for RON-denominated loans granted by commercial banks. The institution also [...] >> mai mult >>
ianuarie 6, 2012
According to a statement released by Eurostat, Romania posted the fifth highest increase (+7.2% YOY) of industrial producer price among EU Member States in November, while EU registered a 6.3% YOY increase on average. On the month, Romania’s industrial producer prices rose 0.5%, compared to EU [...] >> mai mult >>
ianuarie 6, 2012
According to a statement released by the Ministry of Public Finance, the scheduled value of the auction was RON 0.7bn, while RON 1.48bn were tendered although total banks’ bids reached RON 2.5bn. The average yield for the 2-year treasury notes dropped to 6.87% from 7.15% registered in the [...] >> mai mult >>
ianuarie 6, 2012
After the publication in the Official Gazette, SIFs must convene SGA to amend the articles of incorporation within 60 days. Recall that on December 15th deputies approved the draft law on the hike of SIFs threshold from 1% to 5% with 170 votes for and 63 against. (Source: Fin.ro) [...] >> mai mult >>
ianuarie 5, 2012
NSI: Industrial production price indices up 7.9% YOY in November.
After an 8.4% YOY gain (+0.4% MoM) of the industrial production price index in October, it posted an annual increase of 7.9% and a monthly advance of 0.4% in November due to increases in all sectors, as the water supply and waste management sector registered the highest advance of 12.77% YOY (+1.46% [...] >> mai mult >>
ianuarie 5, 2012
EUROSTAT: Euro area annual inflation is seen at 2.8% in December 2011.
According to a flash estimate issued by Eurostat, Euro area annual inflation is expected to reach 2.8% in December 2011, compared to 3% in November. (Source: Eurostat) [...] >> mai mult >>
ianuarie 5, 2012
According to a statement issued by STZ, Tincau Tibor acting in a concerted manner with Chempark Invest SRL now holds 52.9m shares in Sinteza, accounting for an 80% stake in the company. (Source: Sinteza) [...] >> mai mult >>
ianuarie 5, 2012
ianuarie 4, 2012
NBR: The foreign currency reserves rose 4.56% in December to EUR 33.19bn.
The foreign currency reserves of the National Bank (BNR) have increased by EUR 1.45bn to EUR 33.19bn at the end of December, following inflows of EUR 1.99bn representing funds cashed into the European Commission’s account, funds cashed by the Finance Ministry including the third instalment [...] >> mai mult >>
ianuarie 4, 2012
Romania’s Economy Ministry said it has extended the bidding deadline for companies interested in recruiting private managers for four Romanian state-owned firms to 20th of January after previous deadline expired at the end of December. Also some of the selection criteria were relaxed, in order [...] >> mai mult >>
ianuarie 3, 2012
Following Romania’s National Bank decision to declare January 3rd 2012 a non-banking day in order to give the banks time to prepare their IT systems for the switch to the International Financial Reporting Standards (IFRS) starting with 2012, the Bucharest Stock Exchange BoD has decided that no [...] >> mai mult >>
decembrie 30, 2011
Erste Bank issued 4.03m new shares on 12th of December under the second tranche of the agreement, which started trading on the same day in Vienna, Prague and Bucharest; while a further 4.03m new shares were issued on 15th of December under the third tranche of the agreement, started trading on 19th [...] >> mai mult >>
decembrie 29, 2011
According to the Florin Vladan, chief of the Office for the State Participations and Privatization in Industry (OPSPI), the Ministry of Economy has decided to postpone by two weeks, for January 16, the deadline for submitting the offers for managing the IPO for the 15% stake in Romgaz held by the [...] >> mai mult >>
decembrie 29, 2011
State-owned companies dividend payout ratio of the 2011 profit lowered to 85% from 90%.
According to Public Finance Minister Gheorghe Ialomiteanu, the government approved a memorandum lowering the percentage of the 2011 profit of state-owned companies which must be transferred to the state budget, from current 90% to 85%. Recall that according to the law, the contribution of the [...] >> mai mult >>
decembrie 28, 2011
According to the Central Bank’s press release, total RON-denominated loans rose 5.4% YTD and FX-denominated loans expressed in RON surged 7.8% in November 2011 compared to December 2010, supported by a 11.6% YTD increase in corporate RON-denominated loans and a 11.06% YTD rise in [...] >> mai mult >>
decembrie 28, 2011
Romania's 11-months consolidated budget deficit reached 3% of GDP.
According to the Ministry of Finance, Romania posted a consolidated budget deficit of RON 16.3bn through January-November, representing 3% of GDP projected for the year vs. 5.2% of GDP in the first eleven months of last year. Consolidated budget revenue stood at RON 163.1bn in January-November, up [...] >> mai mult >>
decembrie 28, 2011
WB approved EUR 400m loan to Romania to finance budget deficit.
According to a statement released by the World Bank, a EUR 400m loan disbursement to Romania was approved, representing the Third Development Policy Loan (DPL-3), in a series totaling EUR 1bn, as part of the IMF-EC-WB support package to Romania launched in May 2009 amounting EUR 20bn. The [...] >> mai mult >>
decembrie 27, 2011
On Thursday, Bran Oil acquired another 11m shares in Electroarges SA through a Deal transaction worth RON 3.3m, at a price of RON 0.3 per share, which is 12.53% lower compared to the previous trading session’s price. The shares were acquired from companies controlled by businessman Catalin [...] >> mai mult >>
decembrie 23, 2011
NSI: Unemployment rate flat at 7.2% in Q3’11 compared to Q2’11, up vs. 6.9% registered in Q3’10.
According to the National Institute of Statistics, the unemployment rate climbed 0.3 percentage points YOY reaching 7.2% in Q3’11 versus 6.9% in Q3’10, while remaining flat compared to Q2’11, computed under the ILO methodology. (Source: INS) [...] >> mai mult >>
decembrie 23, 2011
Moody’s Rating Agency confirmed Romania’s long term ratings in domestic and FX currency at Baa3 and stable outlook, thus maintaining the rating in the investment grade category. The agency stressed that Romania’s low government debt to GDP ratio of 31% in 2010, policy reforms [...] >> mai mult >>
decembrie 22, 2011
IMF: Romania to sign precautionary agreement with WB.
According to IMF’s mission chief Jeffrey Franks, Romania will sign a precautionary agreement with the World Bank during next spring, meant to be used in case of emergency. Recall that Romania is currently under a similar agreement worth EUR 5bn, with the IMF and the European Commission. [...] >> mai mult >>
decembrie 22, 2011
IMF: NBR should keep reserve requirements unchanged.
According to an IMF official, Romania’s Central Bank should maintain unchanged the minimum reserve requirements imposed to commercial banks in order to assure enough buffer against potential threats in the financial system. (Source: ZF) [...] >> mai mult >>
decembrie 22, 2011
According to a statement released by the bank, the management has decided to restart the buy-back program for employees, for 12m shares out of 14m approved during April 28 shareholder meeting, while the exact volume of shares which can be acquired by the bank will be determined according to the law. [...] >> mai mult >>
decembrie 22, 2011
decembrie 21, 2011
The assets to be sold are located in Bistrita and include a land plot of 15,848 square meters and a building (the terracotta factory) with an area of 9,364 square meters. The transaction price will be paid in two instalments: the first, worth EUR 0.1m will be paid until 15th of January 2012, while [...] >> mai mult >>
decembrie 21, 2011
However, out of this amount, the company will pay an actual gross dividend of RON 0.009 per share for the 9 months of fiscal year 2011 (1st January to 30th September), given that dividends for the period October 1st - December 31st 2010, represent both the fourth quarter of 2010 and first quarter of [...] >> mai mult >>
decembrie 21, 2011
decembrie 20, 2011
According to a statement released by the Ministry of Public Finance, the scheduled value of the auction was RON 1.3bn, while RON 1.7bn were tendered although total banks’ bids reached RON 3.7bn. The average yield for the 1-year treasury bills dropped to 6.55% from 6.65% registered in the [...] >> mai mult >>
decembrie 20, 2011
According to a statement of IMF deputy managing director David Lipton, the EUR 507m were made available to Romania to support the economic program in case it is needed, stressing that policy implementation has remained strong and all program targets were met, as economic growth has resumed and [...] >> mai mult >>
decembrie 19, 2011
Under the third tranche of the agreement, SIF2 tendered 515.1m BCR shares, representing a 4.74% stake, for 4.02m EBS shares (c1% stake). The new issued shares will have dividend rights for 2011 and will start trading today in Vienna, Prague and Bucharest. Until now, Erste acquired a 88% stake in [...] >> mai mult >>
decembrie 19, 2011
decembrie 16, 2011
2012 State Budget posts a deficit of 1.9% of GDP.
The State Budget draft for 2012 was approved yesterday by the Parliament, outlining a narrower 2012 budget deficit to 1.9% of GDP, from a target of 4.4% in 2011, in order to meet pledges to the EU and IMF according to the precautionary loan agreement. The 2012 budget underlines public spending cuts [...] >> mai mult >>
decembrie 16, 2011
Fondul Proprietatea’s (FP) NAV decreased in November on the back of a 6.1% decline in the value of listed shares down to RON 4.76bn while the unlisted holdings slightly fell by 2.5% to RON 9.15bn. Cash dropped 16.2% to RON 2.29m while bank deposits advanced in November by 20% to RON 313m [...] >> mai mult >>
decembrie 16, 2011
The proposed rectified guidance revises the RAS gross profit by 40% to RON25m, 15% higher YOY, vs. RON42m foreseen by the previous guidance (almost double YOY). Also, total revenue are seen at RON 2,781m, 14% above previous budget, while total expenses are expected to double to RON 2,756m compared [...] >> mai mult >>
decembrie 16, 2011
decembrie 16, 2011
decembrie 15, 2011
According to Florin-Laurentiu Vladan, head of the Office of State Participation and Privatization Industry (OPSPI), authorities will push forward their plans to sell 15% stakes in state-owned power operator Transelectrica (TEL) through secondary public offering by the end of February next year, [...] >> mai mult >>
decembrie 15, 2011
The decision has no impact on the NAV as the stake is recorded at zero value in the portfolio. Recall that FP filed a claim against Romarm - Uzina Mecanica Bucuresti SA back in 2009 in order to compel the company to register the ownership of the Fund of 2.95m shares worth RON 20.02m. The decision [...] >> mai mult >>
decembrie 15, 2011
decembrie 14, 2011
NBR: Current account deficit narrows by 9.53% YOY, FDI fell 43.8% YOY in January-October 2011.
According to the latest data released by the Central Bank, the balance-of-payments current account posted a deficit of EUR 4.09bn in the first ten months of 2011, down 9.53% from January-October 2010 following a 12.67% YOY decline of the trade balance deficit to EUR 4.19bn and a 1.37% surplus of the [...] >> mai mult >>
decembrie 14, 2011
NBR: Total external debt increased by 6.81% YTD in October, to EUR 96.95bn.
According to the data published by the Central Bank, the medium and long-term debt representing 77.2% of Romania’s total external debt amounted to EUR 74.8bn, up 3.9% YTD in October, while the short-term debt representing 22.8% of the total external debt reached EUR 22.12bn, up 18% YTD in [...] >> mai mult >>
decembrie 14, 2011
Also Aerostar plans to invest RON 20.9m next year, 44% higher vs. 2011 budgeted number. For the current year the management forecasted a net profit of RON 9m, but at the end of the first nine months ARS recorded a bottom line of RON 4.3m (+23% YoY). (Source: Aerostar) [...] >> mai mult >>
decembrie 14, 2011
decembrie 13, 2011
NSI: Annual inflation hits new record low of 3.44% in November.
According to the National Statistics Institute, consumer prices rose by 0.42% on the month in November, as a consequence of the 0.54% MoM increase in the prices of food products, while prices of nonfood products rose by 0.24% MoM and services prices were up 0.63% MoM, leading the annual inflation [...] >> mai mult >>
decembrie 13, 2011
NSI: October 2011 FOB-CIF trade deficit down 2.03% YOY, exports continue to rise at a fast pace.
FOB-CIF October trade deficit was EUR 747.3m, EUR 15.5m lower compared to October 2010. Imports were up 12.9% YOY (in EUR terms) to EUR 4.83bn, as imports outside the EU advanced faster than those within the EU, namely by 15.7% YOY compared to a 14% increase in September in EUR terms. In October, [...] >> mai mult >>
decembrie 13, 2011
NBR: Romania sold RON 1.4bn in 11-months T-bills at lower yields.
According to the Central Bank data, Romania sold in an auction on Monday RON 1.4bn 11-month Treasury bills, above the 1.2 billion lei on offer. The average yield fell to 6.6% from 6.82% at the previous auction on October 24. (Source: National Bank of Romania) [...] >> mai mult >>
decembrie 13, 2011
Moody's says Romanian banking system under pressure from external risks.
Moody’s sees increasing pressure on the Romanian banking system from external risks and that asset quality will deteriorate further, as it is largely dependent on the economic and financial market dynamics of the euro area. Main threats considered are the weakening demand for exports and a [...] >> mai mult >>
decembrie 13, 2011
decembrie 13, 2011
Recall that SIFs tendered 515.1m BCR shares (4.74% stake) for 4.02m EBS shares (c1% stake), while for the rest of shares they cashed RON 123.6m after selling 103.02m shares held before this year’s share capital increase at a price of 1.0385 RON/share and 33.25m shares received this year [...] >> mai mult >>
decembrie 13, 2011
BRD-GSG (BRD RO): EBRD considers lending up to EUR 30m to BRD for energy efficiency projects.
The European Bank for Reconstruction and Development is considering lending to Romanian BRD up to EUR 30m to support energy efficiency projects of local small and medium-sized enterprises and municipalities. According to EBRD, the SME Energy Efficiency Facility is worth up to EUR 20m, while the [...] >> mai mult >>
decembrie 13, 2011
OLTCHIM Rm. Valcea (OLT RO): Romania authorities picked PwC to manage Oltchim stake sale.
Romania’s Economy Ministry owns 54.8% of Oltchim and it plans to sell the stake by April next year. (Source: Mediafax) [...] >> mai mult >>
decembrie 12, 2011
Letter of intent agreed with the IMF: New deadlines for privatizations.
Listing procedures for the sale of a 15% stake in Romgaz will be finished by late June 2012, as authorities wait brokerage offers for the listing by 29th of December. The letter also states that the IMF agreed with the delay of the privatization deadline of Oltchim Ramnicu Valcea, but demanded [...] >> mai mult >>
decembrie 12, 2011
Hidroelectrica to be listed by October 2012.
The procedures for the listing of Hidroelectrica on the Bucharest Stock Exchange by selling a 10% stake in the share capital increase will be completed by the end of October 2012, while by the end of February an investment bank will be hired to prepare the operation. The sale booklet will be [...] >> mai mult >>
decembrie 12, 2011
Complexul Energetic Oltenia will be established through the merger of three state-owned thermal power plants, Complexul Energetic Craiova SA, Complexul Energetic Rovinari SA and Complexul Energetic Turceni SA (accounting for c6% of Fondul Proprietatea NAV) and the Societatea Nationala a Lignitului [...] >> mai mult >>
decembrie 12, 2011
Under the second tranche of the agreement, SIF3 tendered 515.1m BCR shares, representing a 4.74% stake, for 4.02m EBS shares (c1% stake). Furthermore, Erste acquired in the first week of December a 2.04% stake in BCR against RON 193.7m from SIF Moldova (1.26% stake in BCR) and SIF Muntenia EBS will [...] >> mai mult >>
decembrie 9, 2011
According to the Public Finance Ministry officials, Romania’s Treasury holds sufficient buffer reserves for financing the state payments for four months, namely EUR3bn. The buffer reserves come in part from EU funds and euro-bonds worth EUR1.5bn sold this year. The officials also admit that [...] >> mai mult >>
decembrie 9, 2011
Capital Economics: Romanian economy to shrink by 0.5% in 2012.
According to the British research group Capital Economics, Romanian economy will shrink by 0.5% in 2012 as the economy is set to contract if the euro zone switches to minus growth as well. The British group underlined the industry was the main engine backing Romania’s economic recovery this [...] >> mai mult >>
decembrie 9, 2011
According to the National Statistics Institute, the manufacturing industry posted the highest increase of 5% YOY (up 0.2% MoM), followed by the mining industry with a 4.5% YOY increase (down 0.9% MoM), while electric and thermal energy production and supply sector advanced by 4% YOY (down 0.9% MoM) [...] >> mai mult >>
decembrie 9, 2011
ERSTE GROUP BANK (EBS RO): EBS reaffirmed its commitment to CEE.
At the Capital Market Day in Vienna, Erste Group Bank stressed its commitment to Central and Eastern Europe, stating that the Group would not retreat from any of its CEE markets. The Group will particularly focus on lowering costs and ensuring that in 2012 they will stay below 2011 level; while it [...] >> mai mult >>
decembrie 9, 2011
ERSTE GROUP BANK (EBS RO): EBA stress test confirmed the EUR 743m capital shortfall.
The European Banking Authority (EBA) published the results of the stress test conducted amongst 71 European banks based upon Q3’11. The test set as benchmark a core tier 1 ratio of 9% that will have to be met by 30 June 2012 while Erste’s core tier 1 ratio reached 8.4% at Q3’11. [...] >> mai mult >>
decembrie 9, 2011
decembrie 9, 2011
ROMPETROL WELL SERVICES (PTR RO): PTR extends its activities to Hungary and Bulgaria.
PTR signed several special wells services agreements in Hungary and Bulgaria worth USD 0.8m. The company started in October the works on two geothermal well in Hungary, while in Bulgaria it works on two petroleum wells over 3,000 meters depth. (Source: Rompetrol Well Services) [...] >> mai mult >>
decembrie 8, 2011
NSI: Constructions volume dropped by 0.6% YOY, down 1.5% MoM in October.
According to the seasonally adjusted data released by NSI, constructions volume decreased by 0.6% YOY (-1.5% MoM) in October, with residential buildings up 7.1% YOY (up 1% MoM) as non-residential buildings were up 3.4% YOY (down 5.9% MoM). Capital repairs rose by 7.6% YOY (down 10.3% MoM) as new [...] >> mai mult >>
decembrie 8, 2011
NSI: Industrial new orders down 17.8% MoM in October, up 15.5% YOY in Jan-October.
Industrial new orders advanced 1.1% YOY (down 17.8%) in October, as capital goods industry hiked 4.8% YOY (down 15.3% MoM), durable goods industry rose 4.6% YOY (down 2.2% MoM), household goods industry increased 1.8% YOY (down 9.8% MoM), while intermediate goods industry dropped 4.4% YOY [...] >> mai mult >>
decembrie 8, 2011
NSI: Industrial turnover surged by 14.7% YoY in October, dropped 5.5% MoM.
Industrial sales declined by 5.5% MoM in October dragged down by a 5.9% MoM drop in manufacturing industry while mining sector hiked 4.8% MoM. On yearly basis, industrial turnover was up 14.7% supported by the mining sector with a 10.4% hike and by the manufacturing sector which jumped 14.8%. In the [...] >> mai mult >>
decembrie 8, 2011
NSI: Energy resources up 3% YOY in January-October 2011.
According to the statement released by the National Statistics Institute, the local production increased by 1.9% YOY in the first ten months of 2011 on the back of 13.6% YOY higher coal production, while imports rose by 5.3% YOY, fueled by a 46.1% YOY increase in imported natural gas, while imported [...] >> mai mult >>
decembrie 8, 2011
S&P lowered its local currency long-term corporate credit rating on Romanian gas transmission company Transgaz to 'BB+/B' from 'BBB-/A-3' on November 29th, 2011, in accordance with our revised methodology for rating sovereign governments. Recall S&P’s similar action on the local [...] >> mai mult >>
decembrie 8, 2011
FONDUL PROPRIETATEA (FP RO): FP published the shareholders’ structure as of 30th of November.
State’s stake fell to 1.53% of the paid-up share capital vs. 3.31% at the end of October. Romanian private individuals’ stake in the paid-up capital slightly increased from 36.69% to 36.73%, while foreign institutional investors own now 40.89% vs 39.01% at the end of October. The total [...] >> mai mult >>
decembrie 8, 2011
Registration date was set 30th of December 2011. (Source: Dafora) >> mai mult >>
decembrie 7, 2011
NSI: Romanian’s Q3’11 real GDP up 4.4% YOY backed by agriculture surging 22.1% YOY.
According to the seasonally adjusted data released by NSI, Romania's Q3’11 GDP in current prices stood at RON 143.46bn, up 1.8% compared to Q2’11. As gross series, Q3’11 GDP in current prices landed at RON 154.93bn (+4.4% YoY) supporting the 9M’11 GDP in current prices to RON [...] >> mai mult >>
decembrie 7, 2011
ARTEGO Tg. Jiu (ARTE RO): ARTE shares will start trading today on the regulated market, Tier II.
The rubber products manufacturer was listed on Rasdaq market segment in March 1998. Main shareholder is the employees association holding a 70.04% stake while free-float stands at 29.96%. (Source: Artego) [...] >> mai mult >>
decembrie 6, 2011
NSI: October volume of retail trade rose 2% YOY, up 2% MoM.
Seasonally adjusted retail sales in October increased by 2% YOY, as food, beverage and tobacco sales dropped 0.4% YOY (up 0.6% MoM), and non-food items sales surged 6.4% YOY (up 3.7% MoM). During the first ten months of the year, retail sales dropped 4.5% YOY, amid 7.7% YOY lower food, beverage and [...] >> mai mult >>
decembrie 6, 2011
Year-end inflation might fall below the National Bank of Romania forecast of 3.3%.
According to the Central Bank Governor Mugur Isarescu, 2011 inflation rate might drop below the 3.3% forecast, after annual inflation reached 3.55% in October, reinforcing expectations that Central Bank will continue to lower interest rate to boost economic growth. Recall that the National Bank of [...] >> mai mult >>
decembrie 6, 2011
SIF2 tendered 136.27m BCR shares (1.2553% stake) worth RON 123.6m in cash. (Source: SIF Moldova) >> mai mult >>
decembrie 6, 2011
SIF MUNTENIA (SIF4 RO): Erste acquired a number of 84.76m BCR shares against cash worth RON 70.12m.
decembrie 5, 2011
The foreign currency reserves of the National Bank (BNR) have decreased by EUR 0.45bn to EUR 31.74bn at the end of November, following inflows of EUR 1.1bn representing funds cashed by the Finance Ministry, changes in the minimum FX reserves of the banks and inflows into the EC account. Outflows [...] >> mai mult >>
decembrie 5, 2011
NSI: Q3’11 investments rose 15.3% YOY to EUR 3.82bn, 9M’11 investments increased by 2.7% YOY.
According to data published by the National Statistics Institute (NSI), in the third quarter of 2011, investments in the national economy hiked 15.3% compared to Q3’10, after dropping by 8.6% YOY in Q2’11. In Q3’11, the number of new constructions fell by 3.8% YOY as investments in [...] >> mai mult >>
decembrie 5, 2011
NSI: Industrial production price indices up 0.4% MoM in October.
After an 8.1% YOY gain (+ 0.9% MoM) of the industrial production price index in September, it posted an annual increase of 8.4% and a monthly advance of 0.4% in October due to increases in all sectors, as the water supply and waste management sector registered the highest advance of 10.98% YOY [...] >> mai mult >>
decembrie 5, 2011
Until November 30th, the company repurchased a number of 445,500 shares accounting for a 0.415 stake, in total worth of RON 82,746. (Source: Farmaceutica Remedia) [...] >> mai mult >>
decembrie 5, 2011
Cercel Horatiu now owns in his own name a 16.49% stake while along with two related persons he owns a 62.61% stake in COFI. (Source: Concefa) [...] >> mai mult >>
decembrie 5, 2011
decembrie 2, 2011
NSI: Unemployment rate falls 0.4ppt on the month in October, to 7.3%.
According to the National Institute of Statistics, the October unemployment rate reached 7.3%, down 0.4 percentage points compared to the previous month and 0.1 percentage points lower versus the same month of the previous year, computed under the ILO methodology. EU’s unemployment rate [...] >> mai mult >>
decembrie 2, 2011
According to a statement released by SIF Moldova, the management has signed the binding transaction agreement with Erste Group, to sell its 6% stake in BCR Bank. Therefore, SIF2 will sell 103.02m shares at a price of 1.0385 RON/share, 33.25m shares at a price of 0.5RON/share while the remaining [...] >> mai mult >>
decembrie 2, 2011
Rompetrol Group NV has started drilling a test well in Prahova County to search oil for OMV Petrom, as part of a USD 29m agreement between the two companies. Rompetrol plans to invest USD 8.5m in operating the well, executing drilling works in Romanian blocks up to 2015, according with the agreement [...] >> mai mult >>
noiembrie 30, 2011
S&P reaffirmed Romania’s FX debt rating and cut one notch from the local currency debt.
Standard & Poor's Ratings Services affirmed yesterday the 'BB+/B' foreign-currency sovereign credit ratings, the highest non-investment grade, while lowering Romania’s local-currency sovereign debt rating by one notch to “BB+/B” from “BBB-/A/3”. The outlook remains [...] >> mai mult >>
noiembrie 30, 2011
Romania plans to issue RON 4.5bn of debt in December.
The Finance Ministry will auction seven-month T-bills worth RON 1.0bn on December 5, two-year Treasury notes worth RON 700m in par value on December 8, 11-month T-bills worth RON 1.2bn on December 12, 12-months Treasury bills worth RON 1.3bn on December 19 and an auction of 10-year T-notes worth RON [...] >> mai mult >>
noiembrie 30, 2011
According to the agenda of the Chamber of Deputies, the draft law appears on the agenda of the Chamber of Deputies on December 5, ranking 15th. However, according to several deputies, the vote may be postponed even longer, after the 2012 Budget is discusses, or it may even be resent to the Finance [...] >> mai mult >>
noiembrie 29, 2011
Romania's 10-months consolidated budget deficit shrinks to 2.4% of GDP.
According to the Ministry of Finance, Romania posted a consolidated budget deficit of RON 13.28bn through October, equivalent to 2.4% of GDP projected for the year vs. 4.6% of GDP in the first ten months of last year. Consolidated budget revenue stood at RON 148.68bn in January-October, up by 8.6% [...] >> mai mult >>
noiembrie 29, 2011
According to a statement released by the National Statistics, managers estimate stable evolution of manufacturing sector, while constructions and services sectors are seen declining between November 2011 and January 2012 compared to the previous three months. (Source: National Statistics Institute) [...] >> mai mult >>
noiembrie 29, 2011
NSI: Building permits down 6.3% YOY in January-October period.
According to data published by the National Statistics Institute, in the first ten months the number of building permits issued fell by 6.3% over the same period in 2010, while in October a number of 2,924 building permits were issued, down 24% MoM and down by 13.7% YOY. (Source: National Statistics [...] >> mai mult >>
noiembrie 29, 2011
According to a statement released by the Ministry of Public Finance, out of the scheduled value of the auction RON 700m, only RON 249m were tendered although total banks’ bids reached RON 1.20bn. The average yield for the 1-year treasury bills slightly increased to 6.65% from 6.64% registered [...] >> mai mult >>
noiembrie 29, 2011
SIF MOLDOVA (SIF2 RO): SIF2 shareholders approved the BCR stake sale to Erste.
The shareholders gave the management the mandate to finalize the transaction with Erste. SIF2 will sell 103.02m shares at a price of 1.0385 RON/share, 33.25m shares at a price of 0.5RON/share while the remaining 515.1m shares will be swapped with Erste shares. SIF Moldova will receive a total of RON [...] >> mai mult >>
noiembrie 28, 2011
The Romanian government approved on Friday the 2012 budget draft which targets economic growth of 2.1% and a deficit equal to 1.9% of the projected GDP. For the current year, Romania targets a budget deficit of 4.4% of GDP and an economic growth of 1.5%. (Source: SeeNews) [...] >> mai mult >>
noiembrie 28, 2011
According to a statement issued by Azomures today, with Ameropa Holding AG on one side and Eurofert Investments LLC and Azomures Holdings LLC, which own together 75.87% of AZO, on the other side, signed on November 25th several agreements to buy a majority stake in Azomures. The transaction is [...] >> mai mult >>
noiembrie 28, 2011
The main point on the agenda was the vote on the decrease of the registered share capital of Fondul Proprietatea from RON 13.778bn to RON 13.538bn pursuant to the cancellation of 240.3m own shares acquired by the Fund. (Source: Fondul Proprietatea) [...] >> mai mult >>
noiembrie 28, 2011
SIF Moldova’s shareholders will meet again today, the quorum requirement being 50% for the second meeting. (Source: SIF Moldova) [...] >> mai mult >>
noiembrie 28, 2011
SIF1 tendered a 2.63% stake in BCR for RON 50.7m in cash and 1.71m EBS shares (0.45% stake in EBS), while SIF4 acquired a 0.66% stake in EBS by exchanging a 2.99% stake in BCR for 2.53m EBS shares. Both SIFs can dispose up to 25% of their shares immediately after the transaction, and additional 25% [...] >> mai mult >>
noiembrie 28, 2011
ROMPETROL RAFINARE Constanta (RRC RO): The Rompetrol Group announced it successfully restarted works on production units in Petromidia along with the integration of 6 new installations in the operational flow, focusing on the capacity growth up to 5m tons of processed raw materials per year. [...] >> mai mult >>
noiembrie 25, 2011
According to the Central Bank’s press release, the non-government loans granted by credit institutions advance was supported by corporate as total RON-denominated loans rose 4.3% YTD and foreign currency-denominated loans expressed in RON surged 6.3% in September compared to December [...] >> mai mult >>
noiembrie 25, 2011
Franklin Templeton interested in acquiring stakes in state-owned energy companies.
According to the fund’s chairman Mark Mobius, Franklin Templeton Investments is interested in buying Romanian state-owned energy assets such as Transelectrica (TEL), Transgaz (TGN) and Hidroelectrica, but only after a regulatory reform. (Source: Bloomberg) [...] >> mai mult >>
noiembrie 25, 2011
BUCHAREST STOCK EXCHANGE (BVB RO): BVB convened a shareholders meeting for the 9th of January 2012, having as main points on the agenda the review of the Board activity between March 2010 – November 2011, the reelection of all the Board members and assign candidates for the vacant places in [...] >> mai mult >>
noiembrie 25, 2011
ARTEGO (ARTE RO): BVB approved the transfer of Artego to the main market, Tier II.
BVB approved the transfer of Artego shares from the Rasdaq market segment to the second tier of the main market of the BVB. (Source: BVB) [...] >> mai mult >>
noiembrie 24, 2011
EUROSTAT: Romania posts fifth annual increase in industrial new orders in the EU in September
According to a statement released by Eurostat, Romania recorded in September a 14.5% increase of new industrial orders against the same month of last year, while the EU average posted a 2.3% YOY increase. On a monthly basis, new orders in Romania rose 2.3%, ranking sixth among EU member states, [...] >> mai mult >>
noiembrie 24, 2011
The Economy Ministry plans 10% IPO in Nuclearelectrica and Hidroelectrica to increase share capital.
The Economy Ministry has released a draft bill regarding the listing of 10% stakes in power producers Hidroelectrica and Nulearelectrica in order to increase the share capital. According to the draft, the State will not participate to the IPO. (Source: Mediafax) [...] >> mai mult >>
noiembrie 24, 2011
However, due to the lack of quorum, the subject whether to reduce the share capital by RON 240.3m by cancelling the repurchased shares was not discussed. (Source: FP) [...] >> mai mult >>
noiembrie 24, 2011
According to a statement issued by the company, SIF1 completed two agreements with Erste for the sale of a 2.63% stake in BCR. SIF1 swapped 218.92m BCR shares for 1.71m EBS shares (127.9583 BCR shares for a EBS share), while it sold 32.83m BCR shares at a price of 1.0385 RON/share and 33.25m shares [...] >> mai mult >>
noiembrie 24, 2011
noiembrie 24, 2011
Condmag will act as absorbing company and Flowtex Technology will act as absorbed company. (Source: Condmag)
[...] >> mai mult >>
noiembrie 24, 2011
The new shareholder structure is: Cercel Horatiu with a 57.48% stake, Cercel Maria with a 6.44% stake while free-float now stands at 36.08%. (Source: Concefa) [...] >> mai mult >>
noiembrie 24, 2011
Major shareholder is Institut Proiect SA with a 50.46% stake vs. 48.85% previously, TRAFO Proiect maintained its stake at 19.94% while free-float now stands at 29.60%. (Source: Retrasib) [...] >> mai mult >>
noiembrie 23, 2011
Coface cuts Romania’s GDP growth forecast to 2% in 2012.
The rating company Coface keeps its 1.5% estimate for the Romanian economy in 2011, but downgrades the 2012 forecast from 3% to 2%, due to the current euro-zone economic turbulence. Also it warns that a new recession in the euro-zone might revise 2012 growth forecast down to 1%. (Source: [...] >> mai mult >>
noiembrie 23, 2011
Trihenea, Hidroelectrica: Hidroelectrica’s IPO depends on the market conditions.
According to Constantin Trihenea, head of Hidroelectrica, the shares of the hydropower company will be floated on the stock exchange when the market circumstances will be favorable. He also stated that the technical procedures for the 10% IPO prepared by the government under the stand-by agreement [...] >> mai mult >>
noiembrie 23, 2011
According to management, the credit will be used for general corporate purposes including the financing the current investments program. The loan will replace the credit facilities contracted in 2008 and 2009 worth EUR 875m, due in 2012 and not utilized at the date of the replacement. The credit [...] >> mai mult >>
noiembrie 23, 2011
The amendments regarding the voting procedure imply the removal of the voting right restrictions for stakes above 1%, meaning that every paid share will give the shareholder one voting right irrespective of the number of shares owned. Another issue on the agenda is represented by the share capital [...] >> mai mult >>
noiembrie 22, 2011
The Ministry of Public Finance tendered RON 502m in 9-month T-bills at an average yield of 6.72%.
According to a statement released by the Ministry of Public Finance, the scheduled value (RON 500m) was fully subscribed, although banks oversubscribed by 2.3x. The average yield slightly decreased to 6.72% from 6.74% in the previous auction on September 19. (Source: Ministry of Public Finance) [...] >> mai mult >>
noiembrie 22, 2011
noiembrie 22, 2011
Major shareholder is MJ Maillis SA with a 86.84% stake vs. 81.67% previously, while individuals and institutional shareholders own a 1.35% stake and a 11.8% stake, respectively. (Source: MJMaillis) [...] >> mai mult >>
noiembrie 22, 2011
Other main points approved yesterday were an investment loan with a maximum worth of EUR 2m and the increase of the maximum limit of a credit line up to EUR 15m for the next 12 months. (Source: Ropharma) [...] >> mai mult >>
noiembrie 22, 2011
The Bucharest Stock Exchange will operate today COFI’s share capital increase approved in August’s SGA, from RON 56.8m to RON 63.0m after issuing a number of 61.54m new shares at a face value of RON0.1 per share. (Source: Concefa) [...] >> mai mult >>
noiembrie 21, 2011
Government to cut 2012 domestic investments allocations by RON 1.3-2bn compared to 2011.
The Government will reduce the state budget’s allowance for investments by RON 1.3-2bn in 2012 as compared to 2011 numbers, although hopping to compensate by 50% YOY higher EU fund absorption. Therefore, total investment spending drafted in 2012 reaches RON 37.8bn, namely 6.5% of GDP, up RON [...] >> mai mult >>
noiembrie 21, 2011
Romanian banks reported EUR 200m losses in Q3’11.
According to media citing the NBR, Romanian banks have posted of loss of RON 860m in 3Q’11 leading the 9M’11 cumulated loss of the Romanian banking system to RON 765m (+65% YoY) with risk costs remaining high while operating profitability deteriorated. In 2010 the Romanian banking system [...] >> mai mult >>
noiembrie 21, 2011
BRD (BRD RO): Fitch affirmed BCR and BRD ratings at “BBB+” with a stable outlook.
Fitch Ratings confirmed on Friday its ratings for Banca Comerciala Romana (BCR) and BRD-Groupe Societe Generale (BRD RO). According to a statement released by the Agency, the long-term foreign currency credit ratings were maintained reflecting the support the banks can receive from their majority [...] >> mai mult >>
noiembrie 21, 2011
noiembrie 21, 2011
noiembrie 18, 2011
WB: Romania’s GDP is seen rising 1.5% in 2011, up 1.8-2.1% in 2012.
According to a report released by the World Bank, Romania’s economic growth is forecasted to reach 1.5% in 2011, while in 2012 GDP growth is seen between 1.8-2.1%. (Source: World Bank) [...] >> mai mult >>
noiembrie 18, 2011
Romania’s production in the construction sector advanced 1.3% compared to August, against a 1% contraction at community level, according to Eurostat data. Construction activity in Romania recorded a 2.8% increase on the year in September, ranking sixth among the EU member states for which data [...] >> mai mult >>
noiembrie 18, 2011
Finance Ministry has decided to postpone indefinitely the planned USD denominated bond issue until market conditions improve, as contagion worries from the euro-area debt crisis hiked borrowing costs. Recall that officials have held debt-sale meetings in London and US during last week with investors [...] >> mai mult >>
noiembrie 18, 2011
State’s stake fell to 2.74% of the paid-up share capital vs. 3.31% at the end of October, owning only 3.9% of total voting rights. Romanian private individuals’ stake in the paid-up capital slightly decreased from 36.69% to 36.26%, while foreign institutional investors own now 40.03% vs [...] >> mai mult >>
noiembrie 18, 2011
Management submits to shareholders approval the empowerment of the BoD regarding the following tasks: the change of the secondary line of business and the establishment/termination of secondary workstations. Reference date was set the 9th of December. (Source: Transgaz) [...] >> mai mult >>
noiembrie 18, 2011
noiembrie 18, 2011
noiembrie 17, 2011
During the first nine months, the average ammonia prices advanced by 18% YoY (+7% YTD) while the average ureea prices advanced by 39% YoY (+34% YTD). Following a strong third quarter when fertilizer’s prices remained high, AZO’s 9M’11 bottom line landed 3.2x higher YoY at RON [...] >> mai mult >>
noiembrie 17, 2011
noiembrie 17, 2011
TRANSGAZ (TGN RO): The State will name in December the intermediary for TGN’s SPO.
The Ministry of Economy announced that until December 8 will receive the broker’s offers in order to select the intermediary for the secondary listing of a 15% stake. Also, the Ministry of Economy will resume until December the tender for the intermediation of the IPO for a 20% stake in [...] >> mai mult >>
noiembrie 17, 2011
According to a statement regarding inflation released by Eurostat, Romania ranked sixth in terms of monthly inflation among the EU member states in October with a 0.6% monthly inflation, compared to EU average of 0.3%. Euro area annual inflation reached 3% in October 2011, the same as in September, [...] >> mai mult >>
noiembrie 17, 2011
According to Government sources, the second revision of 2011 budget implies lower revenues by RON 1.2bn, as Finance Ministry funds will be cut by RON 1.1bn and Labor Ministry funds will be reduced by RON 755m, while Health Ministry funds will be hiked by RON 1.23bn. After applying compensation [...] >> mai mult >>
noiembrie 16, 2011
NBR: Current account deficit narrows by 10.7% YOY, FDI fell 54.1% YOY in January-September 2011.
According to the latest data released by the Central Bank, the balance-of-payments current account posted a deficit of EUR 3.79bn in the first nine months of 2011, down 10.7% from January-September 2010 following a 13.2% YOY decline of the trade balance deficit to EUR 3.79bn and an 8.7% surplus of [...] >> mai mult >>
noiembrie 16, 2011
NBR: Total external debt increased by 5.9% YTD in September, to EUR 97.9bn.
According to the data published by the Central Bank, the medium and long-term debt representing 76.9% of Romania’s total external debt amounted to EUR 75.3bn, up 3.3% YTD in September, while the short-term debt representing 23.1% of the total external debt reached EUR 22.6bn, up 15.8% YTD in [...] >> mai mult >>
noiembrie 16, 2011
According to a statement released by the Ministry of Public Finance, the initial scheduled value of the auction of RON 1bn was oversubscribed by 38%, as RON 1.38bn were tendered although total banks’ bids reached RON 2.4bn. The average yield for the 6-months T-bills slipped to 6.51% from 6.69% [...] >> mai mult >>
noiembrie 16, 2011
Impacted by a lower than expected net financial result at RON 4.5m compared to RON 10.2m in our numbers, the bottom line stood at RON 41.9m, 7% below our forecast at RON 44.9m. On top line, Zentiva reported 9M’11 RAS sales of RON 183.5m, down 9% YOY and in line with our forecast, with the [...] >> mai mult >>
noiembrie 16, 2011
The findings of the Competition Council, including possible financial sanctions, will be stated in the final decision which will be issued after the receipt of OMV Petrom’s response to the statement of objections and after a hearing at the Competition Council. The maximum fine may be up to 10% [...] >> mai mult >>
noiembrie 15, 2011
NSI: Romanian flash estimate Q3 GDP up 1.9% QoQ and 4.5% YoY.
According to the seasonally adjusted data released by NSI, Romania's gross domestic product rose by an annual 4.5% in the third quarter of 2011 and by 2.6% in the first nine months compared to the same period last year. On a quarterly basis the country's GDP rose by 1.9% in the third quarter. [...] >> mai mult >>
noiembrie 15, 2011
According to a statement released by Eurostat, Romania posted the sixth highest increase (+5.7% YOY) of seasonally adjusted industrial production among EU Member States in September, while EU registered a 2.2% YOY increase on average. On the month, Romania’s industrial production dropped 0.5%, [...] >> mai mult >>
noiembrie 15, 2011
FP also announced that during the third quarter it increased its exposure to Alro (ALR RO), Azomures (AZO RO), Banca Transilvania (TLV RO), BRD Groupe Societe Generale (BRD RO) and Conpet (COTE RO), while it sold it holding in Vitacom (VITO RO). (Source: Fondul Proprietatea) [...] >> mai mult >>
noiembrie 15, 2011
Fondul Proprietatea’s (FP) NAV increased in October by 2.2% against September’s NAV per share of RON 1.0903 on the back of a 7.2% increase in the value of listed shares up to RON 5.07bn while the unlisted holdings stood flat at RON 9.38bn. Cash advanced 12% to RON 2.74m while bank [...] >> mai mult >>
noiembrie 15, 2011
Antibiotice reported 9M’11 RAS sales of RON 201.2m, up 14% YOY and in line with our forecast, with the EBITDA at RON 44.7m, 2% higher YOY, as the margin dropped to 22% from 24% in H1’11 and 25% in 9M’10. Following a Q3’11 net financial loss of RON 5.7m vs. a loss of RON 1.2m [...] >> mai mult >>
noiembrie 15, 2011
The EBITDA landed almost flat YoY at RON 18.1m with the margin moderating at 27% vs. 30.8% in the same period last year. At first impression, results are broadly in line with our forecast and we will revert with details after a fine tune of our numbers. (Source: Biofarm) [...] >> mai mult >>
noiembrie 15, 2011
Versus our forecast, 9M’11 top line stood 16% below our estimate at RON 58.2m and down 20% YOY, while higher expenses led the EBITDA at RON 23.2m (-37% YoY) with the margin weakening to 20% vs. 25% in 9M’10. Our bottom line was further on trimmed by a higher than expected net financial [...] >> mai mult >>
noiembrie 15, 2011
At first sight, top line stood at RON 1,702m, 27% higher YoY and 7% above our forecast at RON 1,597m, supporting the EBITDA to RON 391.7m (+31% YoY) slightly above our forecast. Overall, the bottom line came 6% below our forecast trimmed by a higher than expected net financial loss of RON 66m [...] >> mai mult >>
noiembrie 15, 2011
IMP recorded an operating loss of RON 8.86m against a RON 3.28m loss last year following the termination of agreements signed back in 2008 following the beneficiary’s liquidation thus resulting in a RON3m loss, while the financial loss deepened to RON 5.52m against loss of RON3.42m last year. [...] >> mai mult >>
noiembrie 14, 2011
noiembrie 14, 2011
Next year’s revenues are seen at RON 195.3bn, 13.5% YOY higher, while expenses are estimated to remain flat on the year at RON 206.5bn, implying a RON 11.2bn deficit, representing 1.9% of GDP in cash terms and below 3% in accrual (ESA) terms, based on a 1.8% GDP growth in 2012. The Government [...] >> mai mult >>
noiembrie 14, 2011
Bottom line was further on burdened by the net financial loss of RON 89.8m compared to a loss of RON 68.1m in 9M’10 and a loss of RON 43m in our numbers. from RON52.8m to RON2.6m. On top line, OLT posted RON 1,257m revenues (+38% YoY), in line with our estimate at RON 1,282m, while the EBITDA [...] >> mai mult >>
noiembrie 14, 2011
Top line stood at RON 51.4m compared to RON 58.6m in the same period last year, while the EBITDA landed negative at RON 12m vs. a positive RON 5.6m in 9M’10 on higher operating expenses. The net financial loss was reduced YoY by 25% from RON 5.67m to RON 4.2m. (Source: Concefa) [...] >> mai mult >>
octombrie 17, 2011
Documentele aferente ofertei publice sunt urmatoarele:
Decizia de Aprobare de catre CNVM a ofertei publice
>> mai mult >>
noiembrie 11, 2011
NSI: Annual inflation slightly up to 3.55% in October.
According to the National Statistics Institute, consumer prices rose by 0.64% on the month in October, after dropping four consecutive months, as a consequence of the 0.81% MoM increase in the prices of food products, while prices of nonfood products rose by 0.46% MoM and services prices were up [...] >> mai mult >>
noiembrie 11, 2011
According to the Autumn 2011 forecast report, the European Commission expects Romania’s recovery to continue despite worsening external environment, although it has downward revised 2012 GDP growth to 2.1% from 3.7%, as activity is expected to become more broad-based in 2012 after a 2011 GDP [...] >> mai mult >>
noiembrie 11, 2011
According to a report published by Dafora, the consortium proposal stood at EUR 248m (excluding VAT), the term of the agreement is 27 months and it will be financed by the European Commission (85%) and from State’s budget (15%). At first sight the news seems positive for Dafora, but we do not [...] >> mai mult >>
noiembrie 11, 2011
According to a statement issued by the Ministry of Economy, the Russian state company TISE is interested in acquiring the majority stake the Romanian state will sell in Oltchim next year. Economy Minister Ion Ariton presented Oltchim’s privatization schedule, which provides the completion of [...] >> mai mult >>
noiembrie 11, 2011
noiembrie 11, 2011
noiembrie 10, 2011
Results came in line with our expectations on top line, while higher than assumed FX losses in Q3’11 trimmed our 9M’11 bottom line forecast by 20%. We will revert with details after the revision of our estimates. At first sight TEL’s H111 top line at RON 1,955m (+6% YoY) following [...] >> mai mult >>
noiembrie 10, 2011
BVB posted today a 9M’11 bottom line of RON 15.8m supported by 54% YoY higher revenues at RON 16.9m (6% above our estimates) on increasing trading revenues (+64% YoY) following FP’s listing in February and the upward trend recorded by the structured products market every quarter of this [...] >> mai mult >>
noiembrie 10, 2011
NSI: September 2011 FOB-CIF trade deficit down 11% YOY, exports continue to rise at a fast pace.
FOB-CIF September trade deficit was EUR 741.1m, EUR 95.1m lower compared to September 2010. Imports were up 12.7% YOY (in EUR terms) to EUR 4.9bn, decelerating from a 26% YOY increase in August, as imports outside the EU advanced faster than those within the EU, namely by 14% YOY compared to 12% YOY [...] >> mai mult >>
noiembrie 10, 2011
According to an Emergency Government Ordinance draft, the future share capital increase of Nuclearelectrica will be done by incorporating reserves representing the value of heavy water bought for Reactors 3 and 4 using allocations worth RON1.44bn from the State budget. According to a statement [...] >> mai mult >>
noiembrie 9, 2011
OMV PETROM (SNP RO): Petrom released third quarter results under IFRS posting an EBIT of RON 1,338m, four times higher YoY vs. our forecast at RON 700m, driven by the operational performance improvements and the favorable crude oil price environment (+49% YOY), lifting the bottom line to RON 1,175m [...] >> mai mult >>
noiembrie 9, 2011
NSI: Seasonally adjusted industrial production indices dropped 0.6% MoM (up 5.8% YOY) in September.
According to the National Statistics Institute, the electric and thermal energy production and supply sector registered the highest advance, namely 8.3% YOY (down 0.1% MoM) as an adjusted series, while manufacturing sector advanced by 5.3% YOY (down 0.7% MoM), as mining sector rose by 5.2% YOY (down [...] >> mai mult >>
noiembrie 9, 2011
NSI: Energy resources up 3.6% YOY in January-September 2011.
According to the statement released by the National Statistics Institute, the local production increased by 2.4% YOY in the first nine months of 2011 on the back of 14.3% YOY higher coal production, while imports rose by 6% YOY, fueled by a 54.7% YOY increase in imported natural gas, while imported [...] >> mai mult >>
noiembrie 9, 2011
noiembrie 8, 2011
According to a statement released by the International Monetary Fund following the IMF and EC visit to Romania during October 25 and November 7, Romania has met all IMF performance criteria for end-September. 2011 GDP growth forecast remained unchanged at 1.5% backed by a good harvest this year, [...] >> mai mult >>
noiembrie 8, 2011
Romania's Central bank cuts the inflation forecasts for 2011 and 2012.
The National Bank of Romania cut its end-year inflation forecasts for 2011 and 2012 to 3.3% and 3.0%, respectively, from previously projected 4.6% this year and 3.5% for end-2012. BNR is targeting end-year inflation of 3.0% with one percentage point variation band on either side in 2011 and 2012. [...] >> mai mult >>
noiembrie 8, 2011
The Budget-Finance Committee Members in the Chamber of Deputies gave yesterday a positive vote on the draft legislation to increase SIFs threshold from 1% to 5%. As next step, the parliamentary procedure foresees a final vote in the Camber of Deputies. The Commission now has to prepare the final [...] >> mai mult >>
noiembrie 8, 2011
State’s stake fell to 5.93% of the share capital (vs. 7.58% at the end of September) or 3.31% of the paid-up share capital (vs. 5.01% at the end of September), owning only 3.9% of total voting rights. According to FP’s shareholding structure at the end of October, as published by the [...] >> mai mult >>
noiembrie 8, 2011
noiembrie 8, 2011
noiembrie 7, 2011
NSI: September volume of retail trade dropped 5.2% YOY, up 0.7% MoM.
Seasonally adjusted retail sales in September declined by 5.2% YOY, as food, beverage and tobacco sales dropped 5.1% YOY (up 3% MoM), and non-food items sales decreased by 2.1% YOY (down 1% MoM). During the first nine months of the year, retail sales dropped 5.3% YOY, amid 8.1% YOY lower food, [...] >> mai mult >>
noiembrie 7, 2011
Businessman Constantin Fratila holding a 32.76% stake in CMCM has proposed the splitting of the company on the agenda of the Extraordinary General Meeting on December 12th. The Ordinary General Meeting of Shareholders was also convened for December 12, with the main point on the agenda being the [...] >> mai mult >>
noiembrie 7, 2011
SIF BANAT CRISANA (SIF1 RO): SIF1 shareholders approved the BCR stake sale to Erste
The shareholders gave the management a mandate to finalise the transaction with Erste. SIF1 will sell 103.02m shares at a price of 1.0385 RON/share, 33.25m shares at a price of 0.1RON/share while the remaining 515.1m shares will be swapped with Erste shares. SIF Banat Crisana will receive a total of [...] >> mai mult >>
noiembrie 7, 2011
noiembrie 4, 2011
Overal, we see kind of weaker core lines being offset by the unexpected drop in provisions. BRD reported today 9M’11 RAS set of results posting a bottom line of RON 382.2m (-19% YOY), 5% below our forecast at RON 120m following halved trading income YoY in Q3’11 at RON 41.6m compared to [...] >> mai mult >>
noiembrie 4, 2011
According to President Traian Basescu, 2012 budget drafted by the authorities will provide a budget deficit between 1.9% and 2.1% of GDP from 4.4% in 2011, as revenues are projected based on expectations for a 2% GDP growth. 2012 GDP growth is seen between 1.7% and 2.7%, while in 2011 GDP is [...] >> mai mult >>
noiembrie 4, 2011
According to a statement released by the Ministry of Public Finance, the initial scheduled value of the auction of RON 500m was fully tendered, while total banks’ bids reached RON 1.85bn. The average yield for the 2-year treasury bonds slipped to 7.23% from 7.4% in the previous auction on [...] >> mai mult >>
noiembrie 4, 2011
Following the National Securities Commission’s ordinance regarding the voting rights suspended by the company’s management earlier this week, SIF1 has withdraw the suspension for the group of institutional shareholders representing 5.36% of the share capital. Among these shareholders are [...] >> mai mult >>
noiembrie 3, 2011
The top line stood at RON 195.5m, slightly below our estimate at RON 211.6m due to lower than assumed volumes transported in Q3, with the EBITDA 5.5% lower YoY at RON 54.7m, 12% below our estimates. Supported by FX gains, the net financial result stood positive at RON 16.9m vs. a loss of RON 1.2m in [...] >> mai mult >>
noiembrie 3, 2011
NBR: Central Bank reduced key rate to 6% from 6.25%.
NBR decided yesterday to reduce the monetary policy rate to 6% from 6.25%, after keeping the rate unchanged for the last 18 months. The Central Bank hopes to encourage lower interest rates for RON-denominated loans granted by commercial banks. The institution also decided to ensure adequate [...] >> mai mult >>
noiembrie 3, 2011
NSI: Industrial production price indices up 0.9% MoM in September.
After an 8.7% YOY gain (0.2% MoM drop) of the industrial production price index in August, it posted an annual increase of 8.1% and a monthly advance of 0.9% in September due to increases in all sectors, as the water supply and waste management sector registered the highest advance of 10.86% YOY [...] >> mai mult >>
noiembrie 3, 2011
noiembrie 2, 2011
The foreign currency reserves of the National Bank (BNR) have decreased by EUR 1.43bn to EUR 32.20bn at the end of October, following inflows of EUR 0.38bn representing funds cashed by the Finance Ministry and changes in the minimum FX reserves of the banks. Outflows stood at EUR 1.81bn representing [...] >> mai mult >>
noiembrie 2, 2011
Romania keeps EURO adoption goal in 2015.
Following the talks held on Monday at the meeting of the Inter-Ministry Committee led by Prime Minister Emil Boc and the National Bank’s Governor Mugur Isarescu, it has been decided that Romania will maintain its goal to adopt EURO currency in 2015. (Source: Actmedia) [...] >> mai mult >>
noiembrie 2, 2011
NSI: Unemployment rate rose 0.2ppt on the month in September, to 7.5%.
According to the National Institute of Statistics, the September unemployment rate reached 7.5%, 0.2 percentage points higher compared to the previous month and 0.3 percentage points higher versus the same month of the previous year, computed under the ILO methodology. EU’s unemployment rate [...] >> mai mult >>
noiembrie 2, 2011
Totea well is the largest onshore gas and condensate well in Romania in terms of production volume, current production reaching 3,200boe per day, namely 430,000cbm of gas and 58 tons of condensate, covering c.3% of OMV Petrom’s daily gas production. According to the member of the Executive [...] >> mai mult >>
noiembrie 2, 2011
noiembrie 1, 2011
The decision of the Bucharest Court of Appeal is not irrevocable and it may be appealed within 15 days term. Recall that back in March 23rd, the Bucharest Court rejected the claim filed by the Authority for State Assets Recovery (AVAS) to compel the Fund to assign in favour of AVAS the property of a [...] >> mai mult >>
noiembrie 1, 2011
SIF TRANSILVANIA (SIF3 RO): SIF3 shareholders approved the sale of the 6% stake in BCR.
Yesterday, SIF3 shareholders have decided during the general meeting to approve the selling of the 6% stake held in BCR. Recall that during last week SIF3 updated the meeting agenda, raising the selling price of the 33m BCR shares resulting from the share capital increase, from RON 0.1 per share to [...] >> mai mult >>
noiembrie 1, 2011
SIF1 suspended 13.79% of the share capital owned by shareholders acting in a concerted manner with Banca Transilvania (TLV), also suspending voting rights representing 5.41% of the share capital owned by a group of shareholders which have the same policy as regards to SIF1. The management also [...] >> mai mult >>
octombrie 31, 2011
octombrie 31, 2011
NSI: building permits, down 5.6% YOY in January-September period.
According to data published by NSI, in the first nine months the number of building permits issued fell by 5.6% over the same period in 2010, while in September a number of 3,845 building permits were issued, down 11.5% MoM and down by 5.6% YOY. (Source: National Statistics Institute) [...] >> mai mult >>
octombrie 31, 2011
Andreas Treichl, Erste Group CEO: We intend to take 15% of BCR this year and the rest in 2012.
Erste Group has signed an agreement in principle to buy the stakes in BCR with four SIFs and signed the first transaction with SIF Muntenia (SIF4). The only investment company that had not signed the agreement in principle with Erste was SIF Moldova (SIF2), but it recently convened a General [...] >> mai mult >>
octombrie 31, 2011
OLTCHIM SA (OLT RO): Ministry of Economy chooses the investment bank for the privatization process.
The Ministry of Economy, the major shareholder of Oltchim Ramnicu Valcea, will hold on 21st of November an auction to appoint the investment bank to prepare the privatization. According to government sources, Oltchim will be privatized until April-May 2012, and by the end of this year the investment [...] >> mai mult >>
octombrie 31, 2011
Oltchim updated the shareholders meeting agenda scheduled for December 7, by introducing two points regarding the volume of sales to intermediaries which will be limited to 5% of the previous year’s sales, the contracts stipulating a higher value being subjected to the shareholders’ [...] >> mai mult >>
octombrie 31, 2011
BANCA TRANSILVANIA (TLV RO): BT continued the buy-back program.
TLV acquired another 0.45m shares worth RON0.45m during 21st – 28th of October at an average price ranging between 0.9724-1.0495 RON/share as part of the buy-back program. (Source: TLV) [...] >> mai mult >>
octombrie 31, 2011
AZOMURES SA (AZO RO): Ameropa Group in talks to take over control of Azomures.
According to a statement released by Azomures, Eurofert Investments and Azomures Holdings which own together 75.87% of Azomures SA are currently negotiating with Ameropa Group to take control over Eurofert Investments and Azomures Holdings. (Source: Azomures) [...] >> mai mult >>
octombrie 28, 2011
9M’11 NII reached EUR 4.13bn, 0.9% higher vs. EUR 4.09bn during the same period last year supported by Q3’11 evolution of NII. Net fees & commission income declined marginally to EUR 1.35bn (-1.31% YOY) while the net trading result stood at a weak EUR 37.4m compared to EUR 290m [...] >> mai mult >>
octombrie 28, 2011
Erste Group Bank AG was subject to a preliminary evaluation test conducted by the European Banking Authority (EBA). As a result of the negative scenario, the estimated consolidated Core Tier 1 capital ratio of Erste Group Bank AG will have to reach 9% by June 30, 2012. According to the EBA [...] >> mai mult >>
octombrie 27, 2011
Banca Transilvania (TLV RO) reported today 9M’11 RAS set of results posting a bottom line of RON 106.6m (+53% YOY), 11% above our forecast following halved provisions YoY in Q3’11 at RON 89.6m compared to RON 135.5m in our numbers. Core lines at RON 1,019m came in line with our estimate [...] >> mai mult >>
octombrie 27, 2011
ELECTROMAGNETICA (ELMA RO) will be traded on the first tier of the BSE.
Yesterday, the Bucharest Stock Exchange’s Board of Directors has decided to transfer Electromagnetica’s shares from Rasdaq market to Tier I of BSE. Electromagnetica’s capitalization is RON 185m (EUR 43m), the main shareholders being it’s employees with a 30.9% stake and SIF [...] >> mai mult >>
octombrie 27, 2011
Yesterday, the Bucharest Stock Exchange’s Board of Directors has decided to withdraw Flamingo International from trading on Tier II of the BSE, after the Bucharest Court has decided in May the bankruptcy of the company and its dissolution. (Source: Bucharest Stock Exchange, ZF) [...] >> mai mult >>
octombrie 27, 2011
OLTCHIM (OLT) will be privatized by April-May 2012.
According to Secretary of State Karoly Borbely, chemical plant Oltchim will be privatized by April-May 2012, while the investment bank that will seek out potential investors will be selected by the end of 2011. Oltchim’s shares have been rallying since October 18 by c.15% per day, rising by [...] >> mai mult >>
octombrie 26, 2011
Romania's 9M consolidated budget deficit shrinks to 2.52% of GDP.
According to the Ministry of Finance, Romania had a consolidated budget deficit of RON 13.7bn through September, equivalent to 2.52% of the GDP projected for the year vs. 4.5% of GDP in the first nine months of last year. Consolidated budget revenue stood at RON 131.6bn in January-September, up by [...] >> mai mult >>
octombrie 26, 2011
According to the Central Bank’s press release, the non-government loans granted by credit institutions advance was supported by corporate as RON-denominated loans rose 4.3% YTD and foreign currency-denominated loans expressed in RON surged 6.7% in September compared to December 2010, [...] >> mai mult >>
octombrie 26, 2011
Registration date was set 11th of November. (Source: SIF Moldova) >> mai mult >>
octombrie 26, 2011
According to the Ministry of Economy, the majority shareholder of the chemical plant Oltchim, both BCR and Banca Transilvania are interested to accept the conversion of Oltchim’s debt into OLT shares. Furthermore, the two banks [...] >> mai mult >>
octombrie 25, 2011
EUROSTAT: Romania posts seventh annual increase in industrial new orders in the EU in August.
According to an Eurostat release, Romania recorded in August a 12.5% increase of new industrial orders against the same month of last year, while the EU average posted a 6.5% YOY increase. On a monthly basis, new orders in Romania rose 2%, higher [...] >> mai mult >>
octombrie 25, 2011
According to a statement released by the Ministry of Public Finance, out of the scheduled value of the auction RON 1bn, an amount of RON 735m were tendered although total banks’ bids reached RON 1.94bn. The average yield for the 11-month discount treasury bills remained flat to 6.82% compared [...] >> mai mult >>
octombrie 25, 2011
The initial selling value of the BCR shares resulting from the share capital increase was RON3.3m (EUR 0.76m), while after the amendment the value amounts to RON 16.6m (EUR 3.86m), resulting in a RON 13.3m (EUR 3.09m) positive difference. Recall that SIF Muntenia (SIF4) was the first among the SIFs [...] >> mai mult >>
octombrie 24, 2011
IMF starts quarterly review for Romania this week.
A joint IMF and EC mission will arrive in Bucharest tomorrow and stay until the 7th of November, in order to discuss upon the third evaluation of the precautionary agreement, and will focus on the 2012 budget planning and on the GDP growth forecast and budget deficit target. (Source: IntelliNews) [...] >> mai mult >>
octombrie 24, 2011
The same system is currently used for trading Fondul Proprietatea, Erste Bank and OMV Petrom shares. (Source: CNVM) [...] >> mai mult >>
octombrie 24, 2011
Zew survey: Economic outlook for Romania has worsened for the next six months.
According to a survey conducted by ZEW, in October Romania’s economic outlook at six months in the Central and Eastern Europe region (CEE) has worsened. The index that measures the analysts’ perception over the next six months has dropped in Romania’s case by 30.2 points to -35.8 [...] >> mai mult >>
octombrie 21, 2011
According to a statement released by the Ministry of Public Finance, out of the scheduled value of the auction RON 600m, only RON 182m were tendered although total banks’ bids reached RON 835bm. The average yield for the 3-year treasury bonds remained flat to 7.49% compared to the yield [...] >> mai mult >>
octombrie 21, 2011
OMV PETROM Bucuresti (SNP RO): OMV Petrom’s sales volumes increased 15% in Q3’11 compared to Q3’10.
According to OMV Trading Statement, OMV Petrom’s Q3’11 sales volumes increased 15% YOY, thus decreased 20% compared to previous quarter; the overall production in OMV Petrom posted a slight increase in Q3’11 compared to Q3’10, dropping by 1.6% compared to previous quarter, as [...] >> mai mult >>
octombrie 21, 2011
FP also continues discussions with the market regulators in Romania and Poland and with central depositories in Bucharest and Warsaw in order to prepare the ground for the secondary listing of FP on the Warsaw Stock Exchange. Therefore, original estimated timeframes for the secondary listing will be [...] >> mai mult >>
octombrie 21, 2011
octombrie 20, 2011
FONDUL PROPRIETATEA (FP RO): Templeton postpones FP listing on Warsaw Stock Exchange.
The listing of FP shares on the Warsaw Stock Exchange in Q1 2011 was not included on the November 23 shareholder meeting agenda. Recall that back in July, Templeton recommended the shareholders to approve in September or October 2011 a 10% offering of the existing shares combined with a secondary [...] >> mai mult >>
octombrie 20, 2011
SIF Transilvania announced that on October 19 hearing, the Bucharest Court has postponed the decision regarding the 1% threshold debate for the next hearing which was set for October 26. Recall that SIF3 announced in September it will continue the legal debate against the National Securities [...] >> mai mult >>
octombrie 19, 2011
EBRD: Romania’s 2012 GDP growth forecast cut to 1.1%.
According to the Regional Economic Prospects report, EBRD has decided to cut Romania’s economic growth forecast for 2012 to 1.1% YOY, from 3.8% previously, while projection for 2011 GDP growth was also reduced from 1.9% to 1.5%, grounding its decision on slowdown in the euro area with a [...] >> mai mult >>
octombrie 19, 2011
According to Prime Minister Emil Boc, a 9.8% stake in OMV Petrom will be put for sale on the Budapest Stock Exchange in 2012, after the government failed to sale the stake on the Bucharest Stock Exchange this year, as the bidders did not meet the minimum price requirements set by the government. [...] >> mai mult >>
octombrie 19, 2011
octombrie 18, 2011
2012 drafted budget pending until new talks with the EC and IMF.
The 2012 budget was drafted by the Government and needs to be reviewed after the EC renews its projections regarding Romania and after the 2012 budget deficit target is established with the IMF, following the visit between October 25 and November 7. Recall that the existing budget draft was based on [...] >> mai mult >>
octombrie 18, 2011
According to a statement released by the Ministry of Public Finance, the Ministry of Public Finance borrowed RON 800m in 2-year treasury bonds, as total banks’ bids reached RON 1.48bn, 85% above the scheduled value of the auction of RON 800m. The average yield for the 2-year treasury bonds was [...] >> mai mult >>
octombrie 17, 2011
Fondul Proprietatea’s (FP) NAV decreased in September by 4.79% against August’s NAV per share of RON 1.145 on the back of a 12.75% decline in the value of listed shares down to RON 4.73bn while the unlisted holdings stood flat at RON 9.38bn. Cash dropped 46% to RON 2.46m while bank [...] >> mai mult >>
octombrie 14, 2011
NBR: Current account deficit narrows by 20% YOY, FDI fell 52% YOY in January-August 2011.
According to the latest data released by the Central Bank, the balance-of-payments current account posted a deficit of EUR 3.29bn in the first eight months of 2011, down 20% from January-August 2010 to EUR 3.29bn following a 11.6% YOY decline of the trade balance deficit to EUR 3.42bn and a 20% [...] >> mai mult >>
octombrie 14, 2011
NBR: Total external debt increased by 4.58% YTD in August, to EUR 96.70bn.
According to the data published by the Central Bank, the medium and long-term debt representing 78.19% of Romania’s total external debt amounted to EUR 75.6bn, up 3.7% YTD in August, while the short-term debt representing 21.8% of the total external debt reached EUR 21.1bn, up 7.85% YTD in [...] >> mai mult >>
octombrie 14, 2011
According to a statement issued by SIF Muntenia, SIF4 will sell to Erste 84.8m BCR shares (51.5m at a price of 1.0385RON/share and 33.25m at a price of 0.5RON/share) and 324m BCR shares will be swaped into c2.5m Erste shares (127.9583 BCR shares for a EBS share). For the remaining shares [...] >> mai mult >>
octombrie 14, 2011
The new shareholder structure is, as follows: Cercel Horatiu 57.48% vs. 54.83% previously, Cercel Maria 6.44% vs. 5.68% previously, while free float now stands at 36.08%. (Source: Concefa) [...] >> mai mult >>
octombrie 14, 2011
SIF BANAT CRISANA (SIF1 RO): SIF1 reported it cashed from AVAS, through forced execution proceedings, a new tranche of debt worth cRON2.2m. (Source: SIF Banat Crisana) [...] >> mai mult >>
octombrie 13, 2011
EUROSTAT: Romania ranked fourth in the EU based on industrial production increase.
According to a statement released by Eurostat, Romania posted the fourth highest increase (+7.7% YOY) of seasonally adjusted industrial production among EU Member States in August, surpassed only by Estonia (up 22.7% YOY), Ireland (+10.1% YOY) and Germany (+7.8% YOY), while EU registered a 4.3% YOY [...] >> mai mult >>
octombrie 13, 2011
SIF MUNTENIA (SIF4 RO): Tomorrow is the last day for SIF4 to sign the agreement with Erste Bank.
Tomorrow is the last day when SIF Muntenia can sign the agreement with Erste Group for the sale of BCR shares. According to Petre Szel, SIF4's head of managing board, SIF Muntenia negotiated lately with Erste a slightly better offer than the initial one. If the transaction will not be completed to [...] >> mai mult >>
octombrie 13, 2011
FONDUL PROPRIETATEA (FP RO): Update on the legal dispute with Timisoara Airport.
According to a statement issued by FP, the Court decided to invalidate the resolutions of Timisoara Airport GSM as of 30th of December 2010 as the procedure for convening and organization of general shareholders meetings was not followed. The two shareholders’ resolutions were only approved by [...] >> mai mult >>
octombrie 13, 2011
octombrie 12, 2011
NSI: Annual inflation decelerates sharply to 3.45% in September, lowest value since 1990.
According to the National Statistics Institute, consumer prices fell more than expected by 0.21% on the month in September, dropping for the fourth consecutive month as a consequence of the 1.2% MoM decreases in the prices of food products following a good harvest this year, leading the annual [...] >> mai mult >>
octombrie 12, 2011
octombrie 12, 2011
Lucian Croitoru, NBR: Romania’s GDP up by 2% in 2012.
According to Lucian Croitoru, advisor to the central bank governor, the country’s GDP is expected to increase by 2% in 2012, accelerating from 1.5% YoY in 2011, driven by a combination of external and domestic demand. Regarding next year, Croitoru expects the contribution of external demand to [...] >> mai mult >>
octombrie 12, 2011
BUCHAREST STOCK EXCHANGE (BVB RO): BVB acquired a 5% stake in Moldova Stock Exchange.
According to local media sources, the Bucharest Stock Exchange (BVB) acquired in July for an undisclosed amount a 4.99% stake in Republic of Moldova Stock Exchange. Furthermore, BVB agreed to contribute in kind to an eventual share capital increase of Moldova Stock Exchange with ARENA trading [...] >> mai mult >>
octombrie 12, 2011
octombrie 11, 2011
NSI: August 2011 FOB-CIF trade deficit up 34.6% YOY, exports continue to rise at a fast pace.
FOB-CIF August trade deficit was EUR 851m, EUR 218.2m higher compared to August 2010. Imports were up 26% YOY (in EUR terms) to EUR 4.3bn, accelerating from a 9.8% YOY increase in July, as imports outside the EU advanced faster than those within the EU, namely by 34.3% YOY compared to 22.9% YOY in [...] >> mai mult >>
octombrie 11, 2011
According to a statement released by the Ministry of Public Finance, out of the scheduled value of the auction RON 800m, only RON116.8m were tendered although total banks’ bids reached RON 1.55bn. The average yield for the 1-year treasury bonds slightly advanced to 6.83% from 6.76% registered [...] >> mai mult >>
octombrie 11, 2011
EC: Romania’s fiscal risk, slightly above EU average and twice lower than Greece’s.
According to the European Commission (EC)’s report “Fiscal Reforms in Member States 2011”, Romania’s fiscal risk, which reflects the risks arising from the state’s present and estimated funding needs, is fairly close to the EU average and twice lower than [...] >> mai mult >>
octombrie 11, 2011
According to media, Andreas Trichel, the CEO of Erste Group, announced during a conference call that BCR would undergo a share capital increase worth EUR 100m by the end of the year. This move will have no impact on SIFs if the deal with Erste is completed by then. (Source: EconomicTimes.ro) [...] >> mai mult >>
octombrie 10, 2011
NSI: Seasonally adjusted industrial production indices hiked 7.4% YOY (+1.9% MoM) in August.
According to the National Statistics Institute, the manufacturing sector registered the highest advance, namely 7.8% YOY (up 1.8% MoM) as an adjusted series, while mining sector advanced by 6.7% YOY (up 2.8% MoM), as electric and thermal energy production and supply rose by 4.6% YOY (up 6.5% MoM). [...] >> mai mult >>
octombrie 10, 2011
NSI: Turnover in trade and services rose 5.6% YOY in the first eight months of 2011.
According to the National Statistics Institute, the turnover in trade and services advanced by 9.9% and 11.7%, respectively, YOY in August as an adjusted series (down 1.9% MoM). The highest increase was registered by the services provided to the population, as hotels and restaurants services surged [...] >> mai mult >>
octombrie 10, 2011
IMF mission is expected to arrive in Bucharest on the 25th of October.
A joint IMF, EC and WB mission will arrive in Bucharest on the 25th of October and stay until the 7th of November, in order to discuss upon the third evaluation of the precautionary agreement, and the reasons why certain reforms slowed down in the last three months, such as the privatization and [...] >> mai mult >>
octombrie 10, 2011
octombrie 10, 2011
octombrie 10, 2011
octombrie 10, 2011
octombrie 7, 2011
NSI: Energy resources up 5.2% YOY in Jan-August 2011.
According to the statement released by the National Statistics Institute, the local production rose 3.5% YOY in the first eight months of 2011 on the back of 16.5% YOY higher coal production, while imports rose by 8.9% YOY, backed by a 71.8% YOY increase in imported natural gas, while imported hydro [...] >> mai mult >>
octombrie 7, 2011
NSI: Industrial new orders were up 15.5% YOY, down 0.6% MoM in August.
Industrial new orders advanced due to increases in the following industrial groups: intermediate goods industry (+22% YOY), capital goods industry (+12.7% YOY) and household goods industry (+11.5% YOY), while durable goods industry declined by 4.9% YOY. On monthly basis, new orders in industry [...] >> mai mult >>
octombrie 7, 2011
NSI: Industrial turnover surged by 19.5% YoY in August, dropped 3.6% MoM.
Industrial sales declined by 3.6% MoM in August on a 3.9% MoM drop in manufacturing industry while mining sector rose 4.7% MoM. On yearly basis, industrial turnover was up 19.5% supported by the mining sector with a 21% hike YOY and by the manufacturing sector which jumped 19.4%. In the first eight [...] >> mai mult >>
octombrie 7, 2011
NSI: Constructions volume hiked by 6.8% YOY, down 4.5% MoM in August.
According to the seasonally adjusted data released by NSI, constructions volume increased by 6.8% YOY in August, with residential buildings up 11% YOY as non-residential buildings were up 28% YOY. Capital repairs were increased by 14.1% YOY as new constructions rose 8.1% YOY and maintenance also [...] >> mai mult >>
octombrie 7, 2011
Ministry of Finance rejected on Thursday all bids for five-year T-notes.
According to the Central Bank, Romania rejected all bids that were placed on Thursday in an auction of five-year T-notes worth RON 500m, as it considered the yields expected by banks to be too high. Recall that Romania plans to issue RON 4.2bn worth of government securities in October through six [...] >> mai mult >>
octombrie 7, 2011
State’s stake fell to 5.01% of the paid-up share capital vs. 6.17% at the end of August. According to FP’s shareholding structure at the end of September, as published by the Central Depositary, Romanian private individuals’ stake in the subscribed capital decreased from 38.09% to [...] >> mai mult >>
octombrie 7, 2011
The number of dwellings contracted during the first nine months was similar to 2010 numbers, 117 dwellings contracted vs. 118 in 2010. Out of the total 117 contracted dwellings, 54 represented dwellings sold (46%) while 63 stood for dwellings rented (54%). Despite the underachieved sales plan in the [...] >> mai mult >>
octombrie 6, 2011
OMV Petrom (SNP RO): Wind park Dorobantu started commercial operations on October 1st.
OMV Petrom announced the start of the commercial operations of the wind park Dorobantu located in Dobrogea area, with an installed capacity of 45 MW, total investments accounting for EUR90m. (Source: OMV Petrom) [...] >> mai mult >>
octombrie 6, 2011
NBR Governor, Mugur Isarescu: Annual inflation dropped below 4% in September.
According to the Central Bank’s Governor Mugur Isarescu, annual inflation in September which will be released by the Statistics Institute next week fell below 4% YOY, reaching the Central Bank’s annual inflation target range of 2%-4%. (Source: IntelliNews, Agerpres) [...] >> mai mult >>
octombrie 5, 2011
State secretary: Romania’s public debt to GDP ratio to lower starting 2013.
According to the state secretary and head of Treasury, Bogdan Dragoi, Romania’s public debt to GDP ratio is expected to reach 33.1% this year, while in 2012 it will not exceed 33.4% and will start decreasing as of 2013. He expects the borrowing cost to lower, in line with the inflation, [...] >> mai mult >>
octombrie 5, 2011
NSI: August volume of retail trade dropped 5.9% YOY, down 3% MoM.
Seasonally adjusted retail sales in August declined by 5.9% YOY, as food, beverage and tobacco sales dropped 10.5% YOY (down 3.3% MoM), and non-food items sales decreased by 2.1% YOY (down 2.5% MoM). During the first eight months of the year, retail sales dropped 5.3% YOY, amid 9% YOY lower food, [...] >> mai mult >>
octombrie 5, 2011
NSI: Industrial production price indices surged 8.7% YOY (down 0.2% MoM) in August.
After an 9.3% YOY gain (1% MoM increase) of the industrial production price index in July, it posted a 8.7% YOY rise (down 0.2% MoM) in August due to increases in all sectors, as the water supply and waste management sector registered the highest advance of 11.68% YOY (up 2.78% MoM), manufacturing [...] >> mai mult >>
octombrie 5, 2011
octombrie 5, 2011
BCC management denied the rumors. (Source: ZF, BCC) [...] >> mai mult >>
octombrie 4, 2011
The foreign currency reserves of the National Bank (BNR) have increased by EUR 1.07bn to EUR 33.62bn at the end of September, following inflows of EUR 2.02bn representing funds cashed by the Finance Ministry, inflows into the EC account, change in the minimum FX reserves of the banks, as well as the [...] >> mai mult >>
octombrie 4, 2011
The shares were acquired at an average price of 0.4967 RON/share, while the minimum price was of RON 0.4262 per share as the maximum stood at 0.5360 RON/share. (Source: Fondul Proprietatea) [...] >> mai mult >>
octombrie 4, 2011
octombrie 4, 2011
Azomures is major shareholder in CHEM with a 90.4% stake, as of 30th of June. (Source: AZO) [...] >> mai mult >>
octombrie 3, 2011
Franks, IMF: Romania’s 2012 GDP growth forecast to be cut to 2% from 3.5% currently.
According to Jeffrey Franks, the IMF is likely to revise downward Romania’s 2012 GDP growth forecast to 2% from 3.5%-4% currently, on increasing contagion risk as conditions in European markets have been deteriorating. For 2011, GDP growth is estimated by the IMF and the Government to reach [...] >> mai mult >>
octombrie 3, 2011
NSI: Unemployment rate remained flat on the month in August, to 7.3%.
According to the National Institute of Statistics, the August unemployment rate remained unchanged at 7.3%, as compared to the previous month and versus the same month of the previous year, computed under the ILO methodology. EU’s unemployment rate remained flat on the month at 9.5% in August, [...] >> mai mult >>
octombrie 3, 2011
octombrie 3, 2011
Main points on the agenda are the approval of the General Conditions of the agreement with Erste and of BoD’s mandate to finalize the transaction. Registration date is set 24th of October. (Source: SIF1) [...] >> mai mult >>
octombrie 3, 2011
octombrie 3, 2011
ELECTROMAGNETICA (ELMA RO): ELMA moves to BSE’s main Tier.
The National Securities Commission (CNVM) approved the transfer of Electromagnetica’s shares, the electricity trader and producer of electrical components, from Rasdaq market segment to the main market of the Bucharest Stock Exchange (BVB). (Source: Electromagnetica) [...] >> mai mult >>
octombrie 3, 2011
BIOFARM Bucuresti (BIO RO): Biofarm extends the payment for 2010 dividends until 15th of July 2012.
octombrie 3, 2011
. Major shareholder is SIF Banat Crisana (SIF1) with a 74.72% stake, as of 30th of June. (Source: Vrancart) [...] >> mai mult >>
octombrie 3, 2011
octombrie 3, 2011
Recall that Romanian construction materials producer Prefab applied for EU funding worth EUR5.3m to invest in a cogeneration power-heating plant near its production facility in Calarasi. The unit will deliver heat to its concrete production plant, while the electricity from the facility with an [...] >> mai mult >>
septembrie 30, 2011
NBR: Central Bank kept key rate unchanged at 6.25%.
NBR decided yesterday to keep its monetary policy rate unchanged at 6.25%, while analysts expected a cut of 0.25 percentage points. The Central Bank also decided to ensure adequate management of liquidity in the banking system, and to maintain the current ratios of minimum reserves on both [...] >> mai mult >>
septembrie 30, 2011
NBR: According to deputy governor Cristian Popa, it is very possible for inflation to reach NBR’s target band of 2%-4% in 2011. (Source: Reuters) >> mai mult >>
septembrie 30, 2011
IMF completed second quarterly review under SBA and granted Romania a EUR 480m tranche.
The International Monetary Fund has decided to grant EUR 480m to Romania from crisis-prevention loan, after the government reduced its budget deficit and Romania has made a good progress under the stand-by agreement. This represents the third installment of the program, following another EUR 480m [...] >> mai mult >>
septembrie 30, 2011
BANCA TRANSILVANIA (TLV RO): TLV to start buyback plan for 2 m shares on 30th of September.
TLV announced that during 30th of September - 1st of November will buyback a number of 2 million shares as part of the buyback plan approved in April. Recall that TLV shareholders approved in April’s shareholders meeting the buy-back plan for up to 14 million shares and a period of 18 months, [...] >> mai mult >>
septembrie 30, 2011
SIF MUNTENIA (SIF4 RO): BoD approved the General Conditions of the agreement with Erste to sell BCR.
SIF Muntenia also stated it started the final negotiations with Erste regarding the sale of the 6% stake it holds in BCR. (Source: SIF Muntenia) [...] >> mai mult >>
septembrie 29, 2011
EU proposed a financial transaction tax starting with 2014, which would raise EUR 57bn per year.
According to the EU executive, the European Union proposed a 0.1% financial-transactions tax on trading of stocks and bonds, and a 0.01% tax on derivatives contracts, that would take effect in 2014 and would raise EUR c.57bn (USD 78bn) a year, the proposed tax aiming banks, investment firms, [...] >> mai mult >>
septembrie 29, 2011
NSI: building permits, down 5.6% YOY in the Jan-Aug period.
According to data published by NSI, in the first eight months the number of building permits issued fell by 5.6% over the same period in 2010, while in August a number of 4,345 building permits were issued, up 6.7% MoM and down by 7% YOY. (Source: National Statistics Institute) [...] >> mai mult >>
septembrie 29, 2011
septembrie 28, 2011
At first sight TEL’s H1’11 top line came in line with our estimates, while lower than assumed net financial result trimmed our bottom line by 12%. First semester top line landed at RON1,394.8m, in line with our estimates and 11% higher YOY following higher transported volumes, leading to [...] >> mai mult >>
septembrie 28, 2011
Yesterday, the National Securities Commission (CNVM) released an ordinance forcing SIF Banat-Crisana’s Board of Directors to convene a shareholder meeting during the following 45 days, in order to decide upon the faith of BCR shares which represent the most important asset of the closed-end [...] >> mai mult >>
septembrie 28, 2011
During the shareholder meeting held on the 20th of September, the State voted against the listing of Hidroelectrica, invoking the Government Decision no. 56/2010 regarding the set up of Electrica and Hidroenergetica which is still valid. Other reasons are the litigations initiated by FP and unions [...] >> mai mult >>
septembrie 28, 2011
The Ministry of Health holds a 53.02% stake, SIF5 holds 10.10% while free-float stands at 36.89% (14.33% individuals + 22.56% institutionals). (Source: Antibiotice) [...] >> mai mult >>
septembrie 28, 2011
Yesterday, 19m shares in RPH worth EUR2.5m were transferred through two deal transactions at a price of RON0.575 per share, 12.9% lower compared to the previous closing price, representing 6.5% of the company’s share capital. According to a BSE report regarding insider transactions, the [...] >> mai mult >>
septembrie 27, 2011
Romania's Jan-August budget deficit rose to 2.4% of GDP.
According to a statement released by the Ministry of Public Finance, Romania’s consolidated general budget deficit reached RON12.97bn in the first eight months of the year, reaching 2.4% of GDP projected for the year, down from 4.1% a year earlier, allowing a favorable expectations concerning [...] >> mai mult >>
septembrie 27, 2011
NSI: Unemployment rate dropped to 7.2% in Q2’11 vs. 7.6% in Q1’11.
According to the National Institute of Statistics, the unemployment rate climbed 0.4 percentage points YOY reaching 7.2% in Q2’11 versus 6.8% in Q2’10, and dropped 0.4 percentage points QoQ from 7.6% in Q1’11, computed under the ILO methodology. (Source: INS) [...] >> mai mult >>
septembrie 27, 2011
BRD, SIF5 (BRD RO, SIF5 RO): SIF Oltenia decreased its stake in BRD from 5.068% to 4.997%.
BRD, SIF5 (BRD RO, SIF5 RO): SIF Oltenia decreased its stake in BRD from 5.068% to 4.997%. (Source: BSE) [...] >> mai mult >>
septembrie 27, 2011
Recall that in August GAZ Romania Union federation challenged in court Transgaz shareholders decision no.6/2011 approved on 10th of June SGA and claimed the distribution of a 10% stake from 2010 profits to employees. Decision no.6/2011 referred to the approval of the FY10 RAS financials and a [...] >> mai mult >>
septembrie 26, 2011
According to the Central Bank’s press release, the non-government loans granted by credit institutions advance was supported by corporate as RON-denominated loans rose 3.58% YTD and foreign currency-denominated loans expressed in RON also advanced by 2.8% following a 7.41% YTD increase [...] >> mai mult >>
septembrie 26, 2011
ZEW survey: Good economic outlook for Romania in September.
According to a survey conducted by ZEW, in September Romania continued to have the best economic outlook at six months in the Central and Eastern Europe region (CEE), against the backdrop in which countries such as Hungary and Poland reported steep drops in confidence. The index that measures the [...] >> mai mult >>
septembrie 26, 2011
IMF urges government to privatize coal mines and power generators by June 2012.
The latest letter of intent that the government has agreed on with the IMF states that the two smaller energy companies to be created (Oltenia Energy Centre and Hunedoara Energy Centre) instead of the two giants Electra and Hidroenergetica, shall be privatized by the end of June 2012. The [...] >> mai mult >>
septembrie 26, 2011
Shareholders mandate the managers to negotiate the alternative options to BCR’s listing, such as: partially direct selling of the shares to Erste Group, subscribing to Erste Group share capital increase with the BCR shares, or conversion of BCR shares into Erste Group shares. (Source: SIF5) [...] >> mai mult >>
septembrie 26, 2011
According to media, shareholders mandate the management to negotiate with Erste Group the options to monetize the stake: partially direct selling of the shares to Erste Group, subscribing to Erste Group share capital increase with the BCR shares, or conversion of BCR shares into Erste Group shares. [...] >> mai mult >>
septembrie 26, 2011
According to Greg Konieczny, FP’S manager, the next shareholders meeting is most likely to be held in November, after the preliminary approval by the National Securities Commission (CNVM) of the proposed amendments to FP’s Constitutive Act. Konieczny also stated that he expects the [...] >> mai mult >>
septembrie 23, 2011
SIF MUNTENIA (SIF4 RO): SIF4 shareholders mandate managers to negotiate BCR listing.
The management of SIF Muntenia was empowered by the shareholders to summon within 15 days a general shareholders meeting at BCR bank to request the listing. The deadline set for the initiation of the listing procedures is 13th of October, unless it sells the shares meanwhile. According to Mediafax, [...] >> mai mult >>
septembrie 23, 2011
Industrial consumers to pay 8% more for gas.
The National Energy Regulatory Authority (ANRE) announced yesterday the price of natural gas for industrial consumers will be hiked by an average 8% as of October 1st, while the price of gas remained flat for households. ANRE also announced that the price of domestic gas will remain unchanged and [...] >> mai mult >>
septembrie 22, 2011
FP asked the Chamber of Deputies the urgent approval of the admission to trading on BSE of FP’S unlisted holdings to which the State is major shareholder, proposing 31st of December 2012 as deadline. On 12th of September, the Bucharest Stock Exchange sent a similar letter to the President of [...] >> mai mult >>
septembrie 22, 2011
Recall that during last week, an agreement has been reached between SIF4 and Erste Group regarding the buy-out offer for the 6% stake in BCR, according to which SIF4 will receive 1% of Erste Bank shares and RON 56.8m in cash. (Source: SIF Muntenia) [...] >> mai mult >>
septembrie 22, 2011
RETRASIB SA (RTRA RO): SC SEPAL Comert increased their stakes in Retrasib from 0.09% to 7.69%.
On Monday, SC Sepal Comert acquired a number of 3.8m shares for RON0.87m through a deal transaction from SC Hold Invest, at a price of RON 0.23 per share, 14.8% lower compared to the previous trading session. (Source: Retrasib) [...] >> mai mult >>
septembrie 21, 2011
IMF maintains Romania’s 2011 GDP increase at 1.5% and 2012 GDP growth at 3.5%.
The International Monetary Fund forecasts that Romania’s economy will expand 1.5% in 2011 and 3.5% in 2012, representing the best forecasted evolution among emerging European countries, while global growth was downgraded by 0.3 percentage points to 4% for both 2011 and 2012. (Source: Nine [...] >> mai mult >>
septembrie 21, 2011
DAFORA MEDIAS (DAFR RO): Only half of DAFR share capital increase has been subscribed.
According to a report issued by the company, a number of 28.74 million new shares have been subscribed out of the total 51.24m new shares offered at a face value of RON0.1 per share, and the rest was cancelled. Out of this number, 28.71m shares were subscribed by Gheorghe Calburean and Dafora Group [...] >> mai mult >>
septembrie 21, 2011
BURSA DE VALORI BUCURESTI (BVB RO): Templeton Asset Management increased its stake in BVB to 5.58%.
septembrie 21, 2011
OLTCHIM (OLT RO): Carlson Investment Fund considers exiting Oltchim.
Carlson Ventures International, which indirectly controls a 14.05% stake in chemical plant Oltchim, announced on Tuesday it is considering selling its holding in the company, due to uncertainties regarding the financial situation of Oltchim and because of worries the state will not follow the [...] >> mai mult >>
septembrie 20, 2011
Finance Minister: Economic growth forecast for Romania likely to be revised.
Finance Minister: Economic growth forecast for Romania likely to be revised. Finance Minister Gheorghe Ialomitianu stated on Monday that Romania will have to revise its 1.5% economic growth forecast considering the present global economic context. He also stated that neither the budget deficit [...] >> mai mult >>
septembrie 20, 2011
Eurostat: Romania’s July construction output rose at second fastest pace in EU.
Eurostat: Romania’s July construction output rose at second fastest pace in EU. According to Eurostat data, Romania’s production in the construction sector advanced 3.3% MoM, ranking second among the Member States, while the average activity in EU rose 0.3%. Construction activity in [...] >> mai mult >>
septembrie 20, 2011
Romania sold RON 657m in 9-month treasury bills.
Romania sold RON 657m in 9-month treasury bills. The Finance Ministry sold nine-month treasury bills worth RON 657m on Monday, at an average accepted yield at 6.74%, compared with 6.76% for one-year bills last week. (Source: National Bank of Romania) [...] >> mai mult >>
septembrie 20, 2011
The Investors Association AIPC asked CNVM to start investigations on SIFs trades concluded before and after Erste-SIFs Agreement regarding BCR was published. (Source: ZF) [...] >> mai mult >>
septembrie 20, 2011
SIF TRANSILVANIA (SIF3 RO): SIF3 will continue the legal debate for the 1% threshold.
SIF TRANSILVANIA (SIF3 RO): SIF3 will continue the legal debate for the 1% threshold. SIF3 announced it will continue the legal debate against the National Securities Commission (CNVM) decision to annul the shareholders’ decision to hike the 1% threshold to 5%. The next hearing was set on 19th [...] >> mai mult >>
septembrie 20, 2011
SIF OLTENIA, BIOFARM (SIF5 RO, BIO RO): SIF5 has increased its stake in Biofarm to 25.46% after acquiring a further 2 million shares on Friday, worth RON0.39m. (Source: Biofarm) [...] >> mai mult >>
septembrie 20, 2011
SIF MUNTENIA (SIF4 RO): SIF4’s management limited to 1% the votes of Catalin Chelu and Broadhurst, for acting in a concerted manner. (Source: SIF4) [...] >> mai mult >>
septembrie 20, 2011
The company announced the price set by the evaluator of RON 3.9647 per share for the shareholders who disagree with the delisting of the company. Recall that the shareholder general meeting to vote on the delisting was convened for the 18th of October. The price announced is more than double [...] >> mai mult >>
septembrie 20, 2011
ROMPETROL RAFINARE Constanta (RRC RO): Petromidia refinery will be shut down during 22nd of October - 3rd of November for maintenance and upgrades works. (Source: Rompetrol Rafinare) [...] >> mai mult >>
septembrie 19, 2011
CSSPP: Romania's private pension funds net assets rose 52% YoY in August.
According to the private pension system regulator (CSSPP), the total assets under the management of Romania's private pension funds rose by 52% YoY to RON 6.07bn (EUR 1.4bn) at the end of August, as assets grew by 2.07% compared to the end of July. The net assets of the country's mandatory private [...] >> mai mult >>
septembrie 19, 2011
SIFS (SIF1 RO, SIF3 RO, SIF4 RO, SIF5 RO): Erste Group Bank sets deadline in BCR buy-out offer.
According to Mediafax, Erste Group CFO Manfred Wimmer stated that the buy-out offer made by Austrian Erste Group to the SIFs will expire after the general shareholders meetings are held. He also stressed that there will be no other offer made to those shareholders to replace the current one. [...] >> mai mult >>
septembrie 19, 2011
FONDUL PROPRIETATEA (FP RO): The Finance Minister may reconsider the compensations with FP shares.
The Finance Minister is considering the possibility of imposing a ceiling on the compensations offered as its stake of 6.1% in FP at the end of August seems to be insufficient for the potential receivers of the compensations. However, the move would bring discrimination between past and future [...] >> mai mult >>
septembrie 19, 2011
BURSA DE VALORI BUCURESTI (BVB RO): Investment funds Templeton Frontier Markets and Templeton Global Investment Trust acquired a further 0.65% stake in BVB worth RON 1.5m, at an average price of RON 30 per share. (Source: BSE) [...] >> mai mult >>
septembrie 16, 2011
Government approves letter of intent agreed with the IMF, EC and WB.
According to official sources, following the evaluation mission of July-August, government has approved the final form of the letter of intent agreed with the International Monetary Fund, the European Commission and the World Bank, regarding the private managers to be appointed to several state [...] >> mai mult >>
septembrie 16, 2011
Fondul Proprietatea’s (FP) NAV decreased in August by 1.51% against July’s NAV per share of 1.1625 RON on the back of an 7.3% decline in the value of listed shares down to RON5.4bn while the unlisted holdings stood flat at RON 9.38bn. Cash dropped 30% to RON4.5m while bank deposits in [...] >> mai mult >>
septembrie 16, 2011
During 2013 and 2019 period, the Romanian Government will allot 75m free CO2 certificates as follows: 10.3m to OMV Petrom’s new gas-power plant, 11.8m to the Turceni and 11.6m to Rovinari energy holdings. The certificates are valued at EUR 894m at current market prices and are provided by the [...] >> mai mult >>
septembrie 15, 2011
According to a statement released by Erste Group, an agreement has been reached with four of the five SIFs, stating that 2.62bn shares representing 24.12% of BCR will be acquired by Erste Group that currently controls 69.4% of the Romanian bank. In order to aquire BCR shares, Erste Group will offer [...] >> mai mult >>
septembrie 14, 2011
According to media sources, Erste Group intends to offer EUR 600m and an undisclosed number of Erste shares for the remaining 30% stake in BCR to the five SIFs that each own c6%. (Source: IntelliNews) [...] >> mai mult >>
septembrie 14, 2011
SIF MUNTENIA (SIF4 RO), SSIF BROKER Cluj (BRK RO): SIF4, main shareholder of SSIF Broker Cluj, acquired another 2m of BRK’s shares for RON 0.3m, increasing its stake to 10.69%. (Source: SSIF Broker Cluj) [...] >> mai mult >>
septembrie 14, 2011
Concefa shareholders approved on the 30th of August a share capital increase from RON 56.85m to RON 71.06m by cash contribution and compensation with shares of outstanding debt, liquid and payable, due to company’s shareholders. Each shareholder may subscribe 1 new share for each 4 old shares [...] >> mai mult >>
septembrie 13, 2011
NSI: Annual inflation decelerates to 4.25% in August.
Consumer prices fell 0.35% MoM in August, dropping for the third consecutive month as a consequence of decreases in the prices of food products, leading the annual inflation rate down to 4.25% compared to 4.85% in July, the NSI informed. The central bank adjusted its yearend annual inflation [...] >> mai mult >>
septembrie 13, 2011
NBR: Current account deficit down 24.4% YOY, FDI fell 30.5% YOY in January-July 2011.
According to the latest data released by the Central Bank, the balance-of-payments current account posted a deficit of EUR 2.82bn in the first seven months of 2011, down 24.4% from January-July 2010 following a 19.4% drop of the trade balance deficit and a 23.1% surplus of the current transfers [...] >> mai mult >>
septembrie 13, 2011
NBR: Total external debt increased by 5.74% YTD in the first seven months, to EUR 96.13bn.
According to the data published by the Central Bank, the medium and long-term debt representing 78.9% of Romania’s total external debt amounted to EUR 75.8bn, up 4.1% YTD in July, while the short-term debt representing 21.1% of the total external debt reached EUR 20.3bn, up 12.1% YTD in July. [...] >> mai mult >>
septembrie 13, 2011
ALTUR Slatina (ALT RO): Shareholders approved long-term financing worth EUR 3.25m for increasing efficiency and production process improvement, and a EUR 3.8m overdraft. (Source: Altur) [...] >> mai mult >>
septembrie 12, 2011
NSI: Trade deficit declined by over 5.3% YoY in Jan-July to EUR 5.24bn.
Romania reported a trade gap narrowed by 5.3% YoY in the first seven months, as exports rose faster than imports. Between January and July, exports rose by 25.5% YoY, to EUR 25.8bn, while imports rose by 19% YoY, to EUR 31.05bn. In July alone, trade deficit amounted to nearly EUR 636m, as [...] >> mai mult >>
septembrie 12, 2011
According to a statement released by the Vienna Stock Exchange, starting with the 19th of September, FP shares will be included in other three regional stock exchange indices, namely SETX Southeast Europe Traded Index, CECExT [...] >> mai mult >>
septembrie 12, 2011
OMV PETROM (SNP RO): The State intends to buy Arpechim refinery from OMV Petrom.
According to a statement released by the Economy Ministry, the government’s intentions to buy back oil refinery Arpechim was communicated to OMV Petrom which agreed to start negotiations soon, after OMV Petrom decided at the beginning of the year to permanently shut down Arpechim refinery. [...] >> mai mult >>
septembrie 9, 2011
NSI: Seasonally adjusted industrial production indices hiked 5% YOY (+1.2% MoM) in July.
According to the National Statistics Institute, the manufacturing sector registered the highest advance, namely 5.6% YOY (up 1.7% MoM) as an adjusted series, while mining sector declined by 3.4% YOY (down 4.1% MoM), as electric and thermal energy sector advanced 2.7% YOY (down 2.5% MoM). By large [...] >> mai mult >>
septembrie 9, 2011
NSI: Energy resources up 5.5% YOY in Jan-July 2011.
According to the statement released by the National Statistics Institute, the local production rose 4.1% YOY in the first seven months of 2011 on the back of 17.8% YOY higher coal production, while imports rose by 8.3% YOY, backed by a 69.2% YOY increase in imported natural gas, while imported hydro [...] >> mai mult >>
septembrie 8, 2011
According to FP’s shareholding structure at the end of August, as published by the Central Depositary, Romanian private individuals’ stake in the subscribed capital decreased from 38.55% to 38.09%, while foreign private individuals holding strongly increased from 8.84% to 9.31%, Romanian [...] >> mai mult >>
septembrie 8, 2011
According to the law, the listing procedure of a minimum 5% stake of FP portfolio companies should have been completed until 31st of December 2008, while the document subject for approval stipulates a prolongement of the term up until 31st of December 2014. (Source: Mediafax) [...] >> mai mult >>
septembrie 7, 2011
NSI: Romanian’s Q2’11 real GDP growth of 1.4% YOY was backed by industry which surged 4.9% YOY.
According to the seasonally adjusted data released by NSI on Tuesday, Romania's Q2 GDP in current prices was RON137.66bn, as industry had the highest increase in volume of activity with a 4.9% YOY advance in Q2’11 (+7.3% YOY in H1’11), followed by agriculture with a 3.4% YOY increase in [...] >> mai mult >>
septembrie 7, 2011
NSI: Industrial new orders were up 8.1% YOY, down 8.1% MoM in July.
Industrial new orders advanced due to increases in all industrial groups: intermediate goods industry (+13.4% YOY), capital goods industry (+4.7%), durable goods industry (+1.5%) and household goods industry (+6.6%). On monthly basis, new orders in industry dropped 8.1% as durable goods industry [...] >> mai mult >>
septembrie 7, 2011
NSI: Constructions volume hiked by 12.4% YOY, up 3.4% MoM in July.
According to the seasonally adjusted data released by NSI, constructions volume increased by 12.4% YOY in July, with residential buildings up 27.7% YOY as non-residential buildings were up 45.3% YOY. Capital repairs were up 32.2% as new constructions rose 17% YOY and maintenance fell by 11.6% YOY. [...] >> mai mult >>
septembrie 7, 2011
ANOFM: Romania’s August unemployment rate drops to 4.80% compared to 4.77% in July 2011 and 7.41% in August 2010. (Source: ANOFM.ro) [...] >> mai mult >>
septembrie 6, 2011
Romania sold RON 1bn in 1-year T-bills; yields increased to 6.73%.
MoF sold yesterday RON 1bn (EUR 235.5m) in 1-year Treasury bills at an average yield of 6.73% above the 6.64% yield in an auction held on 16th of August. (Source: Mediafax.ro) [...] >> mai mult >>
septembrie 6, 2011
NSI: July volume of retail trade almost flat YOY, up 2.2% MoM.
Seasonally adjusted retail sales in July slightly rose by 0.1% YOY, as food, beverage and tobacco sales dropped 4.1% YOY (+0.9% MoM), and non-food items sales increased 1.6% YOY (+1.3% MoM). During the first seven months of the year, retail sales dropped 5.2% YOY, amid 8.8% YOY lower food, beverage [...] >> mai mult >>
septembrie 6, 2011
Since the repurchase program was launched, FP has bought 225.94m shares for a total of RON 113.67m, out of the available RON 120m. The shares were acquired at an average price of 0.4988 RON/share, while the minimum price was of RON 0.4262 per share as the maximum stood at 0.5360 RON/share. (Source: [...] >> mai mult >>
septembrie 6, 2011
During 2nd of September SGA, the shareholders approved the proposal to contract a 5-year loan worth EUR 15m from Unicredit Tiriac Bank in order to partially repay its debt, a 5-year loan worth EUR 20m from BCR for working capital and to repay a part of its debt to IPSCO Tubular and to several [...] >> mai mult >>
septembrie 5, 2011
NSI: Q2’11 investments fell by 8.6% YOY, H1’11 investments declined by 6.3% YOY.
According to data published by NSI, in the second quarter of 2011, the number of new constructions fell by 9.2% YOY as equipment declined by 7.1% YOY. Compared to Q2’10, new constructions weight in total investments hiked by 1.7 percentage points, as equipments rose by 0.2 percentage points. [...] >> mai mult >>
septembrie 5, 2011
Industrial production price indices surged 9.3% YOY (+1% MoM) in July.
After an 8.4% YOY gain (0.7% MoM increase) of the industrial production price index in June, it posted a 9.3% rise (up 1% MoM) in July due to increases in all sectors, as the water supply and waste management sector registered the highest advance up 11.14% YOY (up 4.02% MoM), manufacturing sector [...] >> mai mult >>
septembrie 5, 2011
DAFORA MEDIAS (DAFR RO): Dafora signed a 2-year geothermal water well drilling contract with GeothermSolarpark Nordhastedt GmbH worth EUR 15m. (Source: Dafora) [...] >> mai mult >>
septembrie 5, 2011
ROMPETROL WELL SERVICES (PTR RO): Rompetrol Well Services announced it will start paying 2010 dividends on 8th of September. (Source: SIF Muntenia) [...] >> mai mult >>
septembrie 5, 2011
BET-C and BET-XT to change their constituents on 19th of September.
Starting with 19th of September, the Bucharest Stock Exchange will include Retrasib (RTRA RO) shares in the calculation of BET-C, while BET-XT will change several constituents. BET-XT will include Alro (ALR RO), Oil Terminal (OIL RO), Zentiva (SCD RO) and Concefa (COFI RO) and will include Banca [...] >> mai mult >>
septembrie 2, 2011
The foreign currency reserves of the National Bank (BNR) have continued to drop by EUR 0.13bn to EUR 32.55bn at the end of August, following inflows of EUR 1.12bn representing funds cashed by the Finance Ministry, inflows into the EC account, change in the minimum FX reserves of the banks and [...] >> mai mult >>
septembrie 2, 2011
Ministry of Finance rejected on Thursday all bids for five-year T-notes.
According to the Central Bank, Romania rejected all bids worth a combined RON 770.75m that were placed on Thursday in an auction of five-year T-notes worth RON 500m. Recall that Romania plans to issue RON 4.7bn worth of government securities in September to re-finance public debt and shore up its [...] >> mai mult >>
septembrie 2, 2011
According to the agreement, BCR can be listed if the five SIFs together file a request to Erste or if Erste and three SIFs decide to list BCR. Considering that Erste opposed the listing and that SIF1 and SIF3 management support Erste’s decision, the odds for BCR’s listing drop [...] >> mai mult >>
septembrie 1, 2011
NSI: Unemployment rate remained flat on the month in July, to 7.3%.
According to the National Institute of Statistics, the unemployment rate slightly climbed by 0.1 percentage points YOY reaching 7.3% in July, while remaining flat on the month after June 2011 unemployment was revised to 7.3% from 7.5% previously, due to updates to the seasonally adjusted series, [...] >> mai mult >>
septembrie 1, 2011
Outstanding public debt rises to 39.4% of GDP in June 2011.
According to the Ministry of Public Finance, outstanding public debt increased by 10% YTD and 21% YOY to RON 214bn, reaching 39.4% of GDP compared to 38% of GDP in December 2010 and 34.6% in June 2010, as RON-denominated debt increased by 10% YTD and rose by 25% YOY to a 46% weight in the total [...] >> mai mult >>
septembrie 1, 2011
Amonil shareholders approved on Monday that the production of fertilizers and nitrogen products will be given a secondary importance, they also decide on closing down two secondary headquarters and to invest in a cogeneration plant. (Source: Amonil) >> mai mult >>
septembrie 1, 2011
Oltchim shareholders approved on Monday to pay an interest rate for the EUR 134m the company owes as state aid refund, which will be included in AVAS receivable to be converted into OLT shares. They also approved financing worth EUR250m for investments (EUR100m) and working capital (EUR150m), [...] >> mai mult >>
august 31, 2011
EC: Company confidence in the Romanian economy slightly down.
According to a monthly poll conducted by the European Commission and posted on its website, confidence in Romanian economy slightly decreased in August from 93.6 to 92.3 points. The service sector recorded the steepest decline, down 7.8 points to -1.2 points. Consumer confidence was 0.8 points up to [...] >> mai mult >>
august 31, 2011
Concefa shareholders approved yesterday a share capital increase from RON 56.85m to RON 71.06m by cash contribution and compensation with shares of outstanding debt, liquid and payable, due to company’s shareholders. Each shareholder may subscribe 1 new share for each 4 old shares held. [...] >> mai mult >>
august 31, 2011
to media sources, shareholders dismissed Constantin Roibu as President of BoD but he will continue as general manager. Note that the company did not publish yet the report on yesterday’s shareholders meeting resolutions. (Source: ZF) [...] >> mai mult >>
august 30, 2011
NSI: Managers estimate for August – October 2011 stable evolution of manufacturing, construction and services sector, while retail sector is expected to post a moderate increase against previous three months. (Source: National Statistics Institute) [...] >> mai mult >>
august 30, 2011
NSI: building permits, down 5.3% YOY in the first seven months.
According to data published by NSI, in the first seven months the number of building permits issued fell by 5.3% over the same period in 2010, while in July only a number of 3,884 building permits were issued, down 6.7% MoM and by 9% YOY. (Source: National Statistics Institute) [...] >> mai mult >>
august 30, 2011
Finance Ministry to borrow RON 4.7bn through government bonds in September.
The Ministry of Public Finance wants to borrow RON 4.7bn by issuing state bonds in September through seven auctions for the sale of securities, out of which three different auctions will be held for long-term loans with 3, 5 and 10 year maturities with a cumulated value of RON 1.6 bn. The first [...] >> mai mult >>
august 30, 2011
Government sources: Company gas prices may increase by 10% in October.
According to government sources cited by Mediafax, industrial consumers may pay natural gas prices higher by 10% starting with October while it is very likely that by year’s end, the National Energy Regulatory Authority (ANRE) might suggest another gas price rise. Sources also added that gas [...] >> mai mult >>
august 30, 2011
Since the repurchase program was launched, FP has bought 223.74 million shares for a total of RON 112.68m, out of the total RON 120m currently available. The shares were acquired at an average price of 0.4996 RON/share, while the minimum price was of RON 0.4262 per share as the maximum stood at [...] >> mai mult >>
august 30, 2011
Retrasib shareholders approved yesterday a share capital increase by RON 5m by capitalizing the reserves from the net profit obtained in the previous years. The shares will be distributed to the existing shareholders at the registration date (14th of September 2011), and each shareholder will [...] >> mai mult >>
august 30, 2011
DAFORA MEDIAS (DAFR RO): Dafora started work on drilling the first well in Romania of US company Hunt Oil in partnership with OMV Petrom. (Source: Dafora) [...] >> mai mult >>
august 29, 2011
According to a report sent to BSE, Floreasca Development along with Nord SA, ECDL Romania SA, Central European Financial Services SA and Avaliser Trading LTD Cyprus hold a 51.49% stake in Prodplast after the mandatory takeover bid which took place during July 13th – August 2nd. Prior to the offer, [...] >> mai mult >>
august 29, 2011
MECHEL Targoviste (COS RO): Mechel shareholders approved on Friday a loan plan worth USD 106m.
Shareholders of Mechel Targoviste approved on Friday a loan plan worth EUR 53m from Banca Comerciala Romana SA and a further USD 30m from Bancpost SA. According to a statement sent to BSE, Mechel Targoviste (COS) and other three Romanian units, Ductil Still SA (DUCL), Laminorul SA and Mechel Campia [...] >> mai mult >>
august 29, 2011
Due to lack of raw materials and of working capital, Oltchim’s BoD has decided to send into technical unemployment a number of 1,161 employees during September, after reducing its activity to 30% of its capacity and sending a number of 1,025 employees into technical unemployment during the period [...] >> mai mult >>
august 29, 2011
august 26, 2011
Romania's Jan-July budget deficit rose to 2.09% of GDP.
According to a statement released by the Ministry of Public Finance, Romania’s consolidated general budget deficit reached RON11.36bn in the first seven months of the year, reaching 2.09% of GDP projected for the year, down from 3.9% a year earlier, below the RON 12.6bn target set in the stand-by [...] >> mai mult >>
august 26, 2011
According to a statement released by the Ministry of Public Finance, out of the scheduled value of the auction RON400m, only RON226m were tendered while total banks’ bids reached RON566m. The average yield for the 10-year treasury bonds increased to 7.59% from 7.47% registered in the previous [...] >> mai mult >>
august 26, 2011
FONDUL PROPRIETATEA (FP RO): State’s stake fell to 12.5% from 18.9% at the end of June.
According to a FP statement, the Ministry of Finance reduced its stake to 12.5% of the total share capital, owning 13.9% of total voting rights, after owning 18.9% at the end of June. (Source: Fondul Proprietatea) >> mai mult >>
august 26, 2011
During 24th of August BoD meeting, the Board has decided that the shareholders’ proposal does not comply with the capital market law and with the constitutive act as the group of shareholder which proposed the convening of the meeting own bellow 5% of the company. Instead, the BoD urged SIF3’s [...] >> mai mult >>
august 26, 2011
FARMACEUTICA REMEDIA (RMAH RO): RMAH continued the buy-back program.
RMAH acquired 83,500 shares worth RON 13,968 during 5th – 25th of August at a price ranging between of 0.153 – 0.185 RON/share as part of the buy-back program. (Source: Farmaceutica Remedia) >> mai mult >>
august 25, 2011
According to the Central Bank’s press release, the non-government loans granted by credit institutions advance was supported by corporate as RON-denominated loans rose 3.45% YTD and foreign currency-denominated loans expressed in RON also advanced by 3.06% following a 7.6% YTD increase [...] >> mai mult >>
august 25, 2011
In order to respect its engagement to the IMF and to the European Commission regarding the privatization strategy, the Government approved yesterday the sale of a 20% stake in airline company Tarom through an IPO on the Bucharest Stock Exchange. (Source: ZF) [...] >> mai mult >>
august 25, 2011
EconomicTimes: SIF Moldova (SIF2 RO) values BCR at EUR2.67m implying SIFs stake is worth EUR800m.
SIF Moldova (SIF 2) estimates the value of the largest Romanian bank to RON 14.3 per share, equivalent to 3.4 EUR/share, less than half the price paid by Erste back in 2006 and close to the price offered last year. In order to set the price, SIF2 considered the 5% stake in BRD sold in February this [...] >> mai mult >>
august 25, 2011
In this regard, Franklin Templeton will take all appropriate measures on behalf of the Fund for recovering the unpaid capital amounts from the Romanian State, represented by the Ministry of Public Finances, and for blocking 372,527,672 shares in the account belonging to the Romanian State, pending [...] >> mai mult >>
august 25, 2011
So far, SIF Oltenia (SIF5), SIF Moldova (SIF2) and SIF Muntenia (SIF4) convened general meeting of shareholders to discuss the requirements of a group of shareholders regarding SIFs stakes in BCR. (Source: SIF Banat Crisana) [...] >> mai mult >>
august 25, 2011
The mineral resource agency of Romania agreed to extend by three years, until September 2014, the exploration phase of the 30-year exploration and production license issued to OMV Petrom. At stake there are the 10 perimeters maintained by Petrom in its portfolio after dropping four of the initial 14 [...] >> mai mult >>
august 24, 2011
According to a statement issued by SIF2, a group of shareholders jointly owning 6.58% proposed the empowerment of the BoD in order to request the floating of BCR on the Bucharest Stock Exchange in term of 15 working days from the SGA resolution date. The agenda also foresees alternative options to [...] >> mai mult >>
august 24, 2011
OLTCHIM (OLT RO): Dispute between Oltchim’s management and shareholders continues.
Oltchim’s CEO, Constantin Roibu, threatens he would resign if the main minority shareholder, German PCC, presents realistic and viable cost-saving solutions regarding the company's production strategy. The management and PCC SE argue over a EUR 140m debt-equity swap and EUR 250m loan. [...] >> mai mult >>
august 23, 2011
MFP rejects banks’ offers for state bonds.
The Ministry of Public Finance rejected on Monday the banks’ offers for 1-year maturity Treasury certificates on grounds the demanded yield was too high at about 6.8-6.9% a year, given the yields that are usual for this type of bonds on the secondary market (6.75%) and the international [...] >> mai mult >>
august 23, 2011
SIF MOLDOVA (SIF2 RO): Some of SIF2 shareholders request the dismissal of a BoD member.
The company announced it had received a request from a group of shareholders to include on the next shareholders meeting agenda the proposal to discuss whether to keep or dismiss Alexandru Matei, one of the Board members. We remind that an Audit Committee report published recently revealed a [...] >> mai mult >>
august 23, 2011
FONDUL PROPRIETATEA (FP RO): FP continues the buy-back program.
FONDUL PROPRIETATEA (FP RO): FP acquired another 6.1m shares worth RON 2.8m during 15th – 19th of August at an average price ranging between 0.4402-0.4693 RON/share as part of the buy-back program. (Source: Fondul Proprietatea) [...] >> mai mult >>
august 22, 2011
World Bank will provide Romania EUR 400m before year-end.
As part of the third Development Policy Loan (DPL 3) which focuses on measures to improve expenditure efficiency and sustain fiscal consolidation, the WB aims to provide another EUR 400m before the end of 2011, after providing EUR 300m in June 2011. This represents the part of the third Development [...] >> mai mult >>
august 22, 2011
BUCHAREST STOCK EXCHANGE (BVB RO): BSE BoD decided to extend the mandate of Valentin Ionescu as CEO.
Valentin Ionescu, BSE’s CEO aims to increase the value of the BSE for its shareholders, by increasing the liquidity on the market, by intensifying the cooperation with local authorities, by improving investors’ interest for BSE, by increasing the Derivative Market activity, by [...] >> mai mult >>
august 22, 2011
The approved guidance revises the RAS gross profit up by 70% to RON42m (+93% YOY) vs. RON25m foreseen by the initial guidance. Recall that during the first semester the company posted a RAS net profit of RON 178.6m compared to RON 58.2m in H1’10. (Source: Transelectrica) [...] >> mai mult >>
august 19, 2011
EIU: Romania’s economy to grow by 1.7% in 2011.
According to a report published on Wednesday by the Economist Intelligence Unit (EIU), Romania is facing some tough austerity measures and its economic growth should reach just 1.7% this year, with expectations of strengthening in 2012 compared to an economic growth of 1.5% foreseen by the local [...] >> mai mult >>
august 19, 2011
Main minor shareholder in Hidroelectrica and Nuclearelectrica, Fondul Proprietatea (FP), demands the convening of the Extraordinary General Meeting of Shareholders from both companies to vote on the approval of their listing on the Bucharest Stock [...] >> mai mult >>
august 19, 2011
According to a statement issued by SIF4, a group of shareholders proposed the empowerment of the BoD in order to request the initiation of BCR listing to the Bucharest Stock Exchange market in term of 15 working days from the SGA resolution date. Registration date was set the 8th of September. [...] >> mai mult >>
august 19, 2011
FONDUL PROPRIETATEA (FP RO): FP has selected ING Bank N.V. Amsterdam to provide depository services.
Fondul Proprietatea announced that starting with 18th of August, the depositary services will be provided by ING Bank N.V. Amsterdam Bucharest Branch, following the selection process carried out in June 2011. (Source: FP) [...] >> mai mult >>
august 18, 2011
NBR injects further RON 2.28bn in interbank market.
The National Bank of Romania has injected yesterday another RON 2.28bn in the interbank market through this week’s second repo operation at a monetary policy interest of 6.25%. According to dealers, nine banks took part in the operation whose date of payment is August 24. On Tuesday the [...] >> mai mult >>
august 18, 2011
EUROSTAT: Romania’s inflation rate, second-highest in the EU in July.
In July Romania’s annual inflation rate stood at 4.9%, the second-highest in the European Union. The highest was Estonia’s inflation rate at 5.3%, while the EU’s inflation rate stood at 2.9%. The lowest inflation rates were reported in Ireland (1%), Slovenia (1.1%) and Sweden [...] >> mai mult >>
august 18, 2011
The Romanian government asked the state-owned chemical company OLT to agree with AVAS over an interest rate for the EUR 134m the company owes as state aid refund. The interest rate will be set as the maximum between the interest rate as set by the European Commission for the recovery of the [...] >> mai mult >>
august 17, 2011
NSI: Romanian flash estimate Q2 GDP up 0.2% QoQ and +0.3% YoY.
According to the seasonally adjusted data released by NSI on Tuesday, Romania's gross domestic product rose by an annual 0.3% in both the second quarter and the first half of 2011. On a quarterly basis the country's GDP rose by 0.2% in the second quarter. According to seasonally-unadjusted data, the [...] >> mai mult >>
august 17, 2011
NBR lent RON 3.2bn to five banks for a week.
The National Bank of Romania lent yesterday RON 3.2bn to five banks through a repo operation with the maturity term set 23rd of August. The loans were granted at an interest of 6.25%, similar to the monetary policy rate. An amount higher than Tuesday’s level was granted by NBR on 25th of [...] >> mai mult >>
august 17, 2011
Romania sold RON700m in 1-year T-bills, yield rises to 6.64%.
Romania sold yesterday 1-year treasury bills worth RON700m at an average accepted yield of 6.64% compared to 6.34% at a previous tender on August 8. The Finance Ministry aims to attract RON4bn in August in order to finance the budget deficit and to refinance the public debt. (Source: NewsIn.ro) [...] >> mai mult >>
august 17, 2011
According to the statement issued by SIF5, a group of shareholders proposed the empowerment of the BoD in order to request the initiation of BCR listing to the Bucharest Stock Exchange market in term of 15 working days from the SGA resolution date. The agenda also foresees alternative options to [...] >> mai mult >>
august 17, 2011
A number of 51.24m new shares will be issued at a face value of RON0.1 per share, according to the 25th of July SGA resolution. Out of this number, 28.71m new shares will be offered to Gheorghe Calburean and Dafora Group to compensate outstanding debt, while 22.52m shares will be subscribed by [...] >> mai mult >>
august 17, 2011
FONDUL PROPRIETATEA (FP RO): FP continues the buy-back program.
FP acquired another 13.7m shares worth RON 6.1m during 8th – 12th of August at an average price ranging between 0.4261-0.4626 RON/share as part of the buy-back program. (Source: FP) [...] >> mai mult >>
august 17, 2011
Fertilizers producer Amonil Slobozia posted weak results in the first half of 2011, with sales down 92% YOY to RON 6.85m from RON 86.84m in H1’10 despite the increase in fertilizer prices registered in H1’11. On costs side, OPEX dropped 77% YOY to RON20.3m, resulting in a negative bottom [...] >> mai mult >>
august 12, 2011
Antibiotice reported HI’11 RAS sales of RON 138.5m, up 19.6% YOY and in line with our forecast, while costs side continued to burden the operating profitability down 21% YOY in H1’11 to RON 25.3m. In line with our estimates, the EBITDA landed at RON 33.7m, 13% lower YOY, with the margin [...] >> mai mult >>
august 12, 2011
Depreciation advanced by 12% YOY to RON36.9m, in line with our estimate at RON36.7m. Total revenues stood at RON 764m, up 4.85% YOY against the first semester in 2010 on higher volumes transported by 3.69MWh and on penalties cashed from Termoelectrica and Interagro. On costs side, total expenses [...] >> mai mult >>
august 12, 2011
At first sight top line was in line with our estimates at RON 576.5m, while lower than assumed expenses supported the EBITDA 12% above our forecast, while the bottom line was trimmed by the net financial result landing 46% below our numbers. Alro increased in the first semester the production of [...] >> mai mult >>
august 12, 2011
NBR: Current account deficit down 28.6%, FDI fell 17.3% in H1.
According to the latest data released by the Central Bank, the balance-of-payments current account posted a deficit of EUR2.6bn in the first half of 2011, down 28.6% from H1’10 following a 21.6% drop of the trade balance deficit and a 63.2% surplus of the current transfers balance. At the end [...] >> mai mult >>
august 12, 2011
Romania’s foreign debt rises to EUR97.121bn at end-June.
According to a statement issued by the central bank, Romania's foreign debt totaled EUR97.121bn at the end of June, 6.8% up from the end of 2010, and includes EUR75.665bn in long-term and medium-term foreign debt, up 4.0% from the end of 2010. The figure for the long-term and medium-term foreign [...] >> mai mult >>
august 11, 2011
NSI: Annual inflation rate falls below 5%.
Consumer prices dropped in July for the second consecutive month as a consequence of drops in the prices of food products, leading the annual inflation rate down to 4.85%, the INS informed. In July last year, back when the VAT was hiked from 19% to 24%, prices grew by 2.6% month-on-month. (Source: [...] >> mai mult >>
august 11, 2011
Transelectrica (TEL RO) reported today H1’11 RAS set of results posting a bottom line of RON 178.6m compared to a loss of RON58.2m in H1’10 supported by higher volumes transported, higher profitability margins on cost reduction and by a net financial result of RON17.8m versus a loss of [...] >> mai mult >>
august 11, 2011
Versus our forecast, top line stood at RON 33.5m, 50% below our estimate at RON68m and down 38% YOY, while a steeper than forecasted drop on costs side lead to an operating profitability of RON8.87m (-41.6% YOY) compared to RON9.69m in our numbers, supporting the EBITDA at RON15.45m vs. RON20.6m in [...] >> mai mult >>
august 11, 2011
According to FP’s shareholding structure at the end of July, as published by the Central Depositary, Romanian private individuals’ stake in the subscribed capital increased from 37.02% to 38.55%, while foreign private individuals holding slightly increased from 8.69% to 8.84%, Romanian [...] >> mai mult >>
august 10, 2011
OMV PETROM (SNP RO): Petrom released second quarter results under IFRS posting a strong 68% YOY increase in Q2 EBIT to RON1,224m (+86% YOY Clean CCS EBIT), up 20% vs. our forecast at RON1,016m driven by the operational performance improvements and the favorable crude oil price environment (+49% [...] >> mai mult >>
august 10, 2011
EBITDA landed at RON1.48m, up 21.5% YOY, inline with our estimate at RON1.53m. Compared to our forecast bottom line landed 4.7x higher impacted by the 8.x higher net financial result while top line stood broadly in line, 16% above. Q2’11 BVB turnover rose 22% YOY to RON 4.92m due to a 24% [...] >> mai mult >>
august 10, 2011
Top line stood 3.x higher YOY at RON873m while net financial result landed at RON6.3m, -70% YOY. At first sight AZO posted results above our forecast with double sales supporting an almost double operating profitability and a 2.4x higher bottom line compared to our numbers. After a revision of our [...] >> mai mult >>
august 10, 2011
FONDUL PROPRIETATEA (FP RO): FP continues the buy-back program
FONDUL PROPRIETATEA (FP RO): FP acquired another 23.58m shares worth RON11.79m during 1st – 5th of August at an average price ranging between 0.4764-0.5152 RON/share as part of the buy-back program. (Source: FP) >> mai mult >>
august 9, 2011
NBR: Romania’s Central Bank revised the annual inflation forecast from 5.1% to 4.6%.
The National Bank of Romania revised its annual inflation forecast for 2011 from 5.1% to 4.6%, while the IMF estimates a 5-5.5% inflation rate. The reduction was based on the powerful correction of volatile prices that started to take place in May and June, along with the persistence of a consumer [...] >> mai mult >>
august 9, 2011
Finance Ministry draws RON 700m by one-year certificates.
The Public Finance Ministry drew on Monday RON 700m by issuing one-year certificates at a growing yield of 6.34%, above the monetary policy rate, compared to the 6.18%, the level granted in the previous auction. (Source: Nineoclock.ro) [...] >> mai mult >>
august 9, 2011
OLTCHIM (OLT RO): Oltchim to cut output in August on capital shortage.
According to a report sent to the BSE, the management of Romanian chemical company Oltchim decided to cut the output to 30% of the installed capacity in August by sending 1,025 employees into technical unemployment during 10th – 31st of August due to low financing of the working capital. [...] >> mai mult >>
august 8, 2011
NSI: H1’11 new industrial orders up c20% YOY.
New industrial orders have grown by 19.4% in H1 compared to the same period last year, backed by all industrial groups. Thus, in the first half of the year orders in the intermediary goods industry climbed by 26.3%, in the durable goods industry by 20.7%, in the capital goods industry by 17.1% and [...] >> mai mult >>
august 8, 2011
Romtelecom chooses consultant for listing on BSE.
Telephony operator Romtelecom has selected the law firm to provide consulting services during the process of evaluating its options of listing on the Bucharest Stock Exchange (BVB). The two options accepted by OTE and the government of Romania are a merger between Romtelecom and Cosmote, followed by [...] >> mai mult >>
august 5, 2011
Condmag posted a 36% YOY decline in Q2’11 top line to RON29.59m vs. a 25% decline in our estimates, but the operating profitability was supported by higher profitability margins following a severe cost reduction, opex down 43% YOY compared to a 28% decline in our numbers that led to an EBITDA [...] >> mai mult >>
august 5, 2011
The investment is worth EUR12m, out of which EUR4.2m comes from non-returnable financial grant from EU funds and the rest from own funds. The production capacity extension of 10m bottles per annum of anti-infective generic drugs will be finished by 2013, eying a higher market share for the Romanian [...] >> mai mult >>
august 5, 2011
Prosanio SA acquired on 28th of July a number of 323.000 shares for RON c.1m. Previous to this transaction, Prosanio SA owned no shares in Carbochim, while Catalin Chelu controls in a concerted manner through several companies, a 62.82% stake in Carbochim. (Source: Carbochim) [...] >> mai mult >>
august 4, 2011
Romania's Central Bank kept key rate unchanged at 6.25%.
NBR decided yesterday to keep its monetary policy rate unchanged at 6.25%, in line with analyst expectations. The Central Bank also decided to ensure adequate management of liquidity in the banking system, and to maintain the current ratios of minimum reserves on both RON-denominated and foreign [...] >> mai mult >>
august 4, 2011
NBR: Inflation to ease next months, upside risks remain.
According to the statement issued yesterday by the Administration Board of the National Bank of Romania, the central bank estimates the inflation will continue to fall in the coming months, helped by cheaper food items and a good farming year, but warned upside pressure from administrated prices and [...] >> mai mult >>
august 4, 2011
INS: H1’11 retail sales drop 6.2% YOY, June retail sales down 8.3% YOY (-1.2% MoM).
Seasonally adjusted retail sales in June fell 6.2% YOY due to 10% lower YOY food, beverage and tobacco sales, as non-food items sales dropped 8.8% YOY. On monthly basis, retail sales were down 1.2% following a 1.7% decrease in non-food items sales, while food, beverage and tobacco sales rose 0.2%. [...] >> mai mult >>
august 4, 2011
Erste continued negotiations with the SIFs regarding the direct takeover of SIFs stakes and avoiding the listing and the options discussed were the direct selling of the stakes to Erste, the conversion of BCR shares into Erste shares, or a mixed option of the two. If these negotiations will fail, [...] >> mai mult >>
august 3, 2011
Industrial production price indices hiked 8.4% YOY (+0.7% MoM) in June.
After a 8% YOY gain (0.3% MoM drop) of the industrial production price index in May, it posted a 8.4% rise (up 0.7% MoM) in June due to increases in all sectors, as the manufacturing sector registered the highest advance up 9.42% YOY (up 0.81% MoM), mining sector hiked 3.04% YOY (up 0.64% MoM), [...] >> mai mult >>
august 3, 2011
The additional amount of money is aimed at financing investment projects for several Ministries and to repay debts of state-owned companies. (Source: Mediafax) >> mai mult >>
august 3, 2011
SNTGN TRANSGAZ MEDIAS (TGN RO): Transgaz unions file lawsuit against decision on dividends.
According to the report published yesterday afternoon by the company, GAZ Romania Union federation challenges in court Transgaz shareholders decision no.6/2011 approved on 10th of June SGA and claims the distribution of a 10% stake from 2010 profits to employees. Decision no.6/2011 refers to the [...] >> mai mult >>
august 3, 2011
august 3, 2011
august 2, 2011
The foreign currency reserves of the National Bank (BNR) have decreased by EUR1.72bn to EUR32.68bn at the end of July, following inflows of EUR 1,372m representing funds cashed by the Finance Ministry and the change in the minimum FX reserves of the banks and revenues from the management of the [...] >> mai mult >>
august 2, 2011
Franks, IMF: Private managers for 15 state-owned companies.
According to Jeffrey Franks the head of IMF mission to Romania, the number of state-owned companies which will be led by private managers was set to 15, but is still under discussion. The proposed companies are among the ones which are not eyed for privatization, such as: Tarom, Posta Romana, [...] >> mai mult >>
august 2, 2011
NSI: Unemployment rate rose slightly to 7.5% in June.
According to the National Institute of Statistics, the unemployment rate climbed 0.4 percentage points YOY reaching 7.5% in June, versus 7.4% in May and 7.1% in June 2010, computed under the ILO methodology, as EU’s unemployment rate remained flat on the month at 9.4% in June, and 0.3 [...] >> mai mult >>
august 2, 2011
The increase in results was supported by increasing traffic in the port of Constanta, up against the same period last year by 60% in terms of volume, according to management data. The operational profit stood at RON5.21m (c40x higher YOY) supporting EBITDA up 160% YOY to RON8.34m with the margin [...] >> mai mult >>
august 2, 2011
Turbomecanica reported H1’11 results and posted a reduced net loss by 30% YOY to RON6.74m in the first semester compared to RON9.62m in H1’10 despite an operational loss of RON6.17m compared to a profit of RON2.7m in the same period last year. Bottom line was supported by the net [...] >> mai mult >>
august 2, 2011
FONDUL PROPRIETATEA (FP RO): FP continues the buy-back program.
FP acquired another 36.37m shares worth RON18.77m during 25th – 29th of July at an average price ranging between 0.5102-0.5235 RON/share as part of the buy-back program. Up until now, the total number of shares bought back through this program reached c.178m shares. >> mai mult >>
august 2, 2011
IMPACT DEVELOPER & CONTRACTOR (IMP RO): ING Pension Fund increased its stake in IMP from 4.85% to 5.72% after acquiring 1.73 million shares on 29th of July. (Source: Impact) [...] >> mai mult >>
august 2, 2011
DAFORA (DAFR RO): Dafora shareholders approved yesterday the refinancing of all loans, in total worth of RON15.43m and EUR21.41m, as of 31st of May 2011. (Source: Dafora) [...] >> mai mult >>
august 1, 2011
BRD-GSG (BRD RO) reported today H1’11 RAS set of results posting a 23% YOY decline in bottom line to RON 281.6m, above our estimates at RON 239.6m due to lower recorded provisions at RON257.5m vs. RON301.8m in our forecast. Core income stood almost flat YOY at RON 1,453m following a 1% [...] >> mai mult >>
august 1, 2011
Banca Transilvania (TLV RO) reported today H1’11 RAS set of results posting a solid bottom line of RON 65.78m, double YOY, below our forecast at RON73.9m following lower than assumed core lines at RON 677m (-3% vs. forecast,+1.8% YOY) and higher non-core lines (+10.5% vs. forecast, +14% YOY). [...] >> mai mult >>
august 1, 2011
Government estimates a Q2’11 GDP increase between 0.3% and 0.4% QoQ, namely a 1.5% YOY increase. On the 16th of August, the National Statistics Institute will release the statement regarding Q2’11 GDP. End-year inflation is seen at 4.8%, lower compared to the National Bank of [...] >> mai mult >>
august 1, 2011
IMF maintains 2011 GDP increase at 1.5% and revises downward 2011 GDP growth from 3.9% to 3.7%.
The International Monetary Fund forecasts that Romania’s economy will expand 1.5% in 2011 and 3.7% in 2012, while all the targets set for the first half of the year in the stand-by agreement with the IMF have been met by Romania. (Source: Mediafax) [...] >> mai mult >>
august 1, 2011
Analysts: Romanian Central Bank seen keeping key rate at 6.25% on Wednesday.
According to a poll realized by the local Association of Financial and Banking Analysts (AAFBR), NBR is likely to keep its key interest rate on hold at 6.25% at its monetary policy meeting on Wednesday. Most of the polled analysts expect BNR to hold the key rate at the [...] >> mai mult >>
august 1, 2011
FONDUL PROPRIETATEA (FP RO): State will not transfer Iraq’s debt to FP, worth USD865m.
According to a new resolution approved by the Government, the state will transfer the USD865m debt from Iraq (out of the USD977m) to the state budget, instead of FP, while the rest of USD112m will be distributed to 25 other companies including Dacia, BCR and Rompetrol. It was argued that the fund [...] >> mai mult >>
august 1, 2011
BCR Group’s H1’11 bottom line drop 66% YOY on lower income and high provisioning.
The group’s consolidated H1’11 net profit after taxes and minority interest stood at EUR37.8m, down 66% YOY, mainly due to the lower net operating income and still high provisioning, while the Q2’11 net profit rose by 7.8% QOQ. Non-performing loans reached 17.9% of the total loans [...] >> mai mult >>
iulie 29, 2011
H1’11 NII reached EUR2.69bn vs. EUR2.68bn during the same period last year supported by Q2’11 evolution of NII. Net fees & commission income declined marginally to EUR954m (-1% YOY) while the net trading result stood at EUR248.7m, up 3.6% YOY. On costs side, opex rose by 1.5% YOY to [...] >> mai mult >>
iulie 29, 2011
The company intends to contract a 5-year loan of EUR20m from Unicredit Tiriac Bank to repay a part of its debt, a 5-year loan of EUR20m from BCR for working capital and to repay a part of its debt to IPSCO Tubular and to companies within the group. Artrom also contracted a 3-year overdraft [...] >> mai mult >>
iulie 29, 2011
The Bucharest Stock Exchange will operate today TLV’s share capital increase approved in April’s SGA, from RON1.477bn to RON1.773bn after issuing a number of 295,735,713 new shares at a face value of RON1 per share from 2010 and previous years’ reserves. (Source: Banca [...] >> mai mult >>
iulie 28, 2011
According to a statement released by the Ministry of Public Finance, out of the scheduled value of the auction EUR600m, only EUR460m were tendered while total banks’ bids reached EUR965m. The average yield for the 4-year treasury Eurobonds slightly dropped to 4.85% from 4.89% registered in the [...] >> mai mult >>
iulie 28, 2011
Four out of the five SIFs announced yesterday that management received a request from a group of shareholders holding stakes above 5% in each SIF with a view to empower management acting towards BCR listing. SIF Banat Crisana (SIF RO) did not publish anything related to this subject yet. Recall that [...] >> mai mult >>
iulie 28, 2011
Other points on the agenda are the approval of additional collaterals worth RON72.78m for a bank loan worth EUR72.47m, the approval of limiting sales through intermediaries to a maximum 5%, and several changes of the constitutive act regarding management attributions. (Source: Oltchim) [...] >> mai mult >>
iulie 28, 2011
FARMACEUTICA REMEDIA (RMAH RO): RMAH acquired 28,500 shares worth RON5,636 during 7th – 21st of July at an average price of 0.1976 RON/share as part of the buy-back program. (Source: Farmaceutica Remedia) [...] >> mai mult >>
iulie 27, 2011
Ministry of Economy: Romania will push on the energy selloffs.
According to a statement issued by the Ministry of Economy, authorities will push forward their plans to sell 15% stakes in state-owned power and gas grid operators Transelectrica (TEL) and Transgaz (TGN) through secondary public offerings by the end of this year, and also aims to start the process [...] >> mai mult >>
iulie 27, 2011
According to a press release after the talks between the Economy Minister Ion Ariton and the joint delegation of the IMF, World Bank (WB) and the European Commission (EC), the Ministry successfully enacted the measures concerning the eight companies of its portfolio that were put under [...] >> mai mult >>
iulie 27, 2011
NBR: Non-government overdue loan payments up by 42% YOY in June.
According to the National Bank of Romania, the total value of the corporate and household overdue loan payments reached RON19.41bn in June, representing 9.01% of the total non-government loans, compared to 6.43% a year earlier, as RON-denominated overdue loan ratio hiked to 10.9% from 8.22% [...] >> mai mult >>
iulie 27, 2011
SIFs shareholders pressure management to convene BCR’s shareholders meeting and vote on the listing.
Scheduled for this month, BCR’s board meeting that should have discussed the bank's listing was delayed until September 8, according to sources in the capital market cited by the EconomicTimes. Erste, which controls bank and has most representatives on BCR’s board, delayed repeatedly to [...] >> mai mult >>
iulie 27, 2011
Retrasib, electric motors producer, intends to increase its share capital by issuing a number of 50m new shares at a face value of RON 0.1 per share, by capitalizing reserves from the net profit obtained in the previous years. The shares ought to be distributed to the existing shareholders at the [...] >> mai mult >>
iulie 26, 2011
Romania's Jan-June budget deficit rose to 2.07% of GDP.
According to a statement released by the Ministry of Public Finance, Romania’s consolidated general budget deficit reached RON11.3bn in the first six months of the year, reaching 2.07% of GDP projected for the year, below the RON 12.6bn target set in the stand-by agreement with the IMF. [...] >> mai mult >>
iulie 26, 2011
According to the Central Bank’s press release, the non-government loans granted by credit institutions advance was supported by corporate as RON-denominated loans rose 2% YTD and foreign currency-denominated loans expressed in RON also advanced by 2% following a 6% YTD increase in [...] >> mai mult >>
iulie 26, 2011
A number of 51.24 million new shares will be issued at a face value of RON0.1 per share. Out of this number, 28.71 million new shares will be offered to Gheorghe Calburean and Dafora Group to compensate outstanding debt, while 22.52 million shares will be subscribed by existing shareholders on 10th [...] >> mai mult >>
iulie 26, 2011
CONCEFA SIBIU (COFI RO): Concefa won a contract with the National Railway Company
CONCEFA SIBIU (COFI RO): Concefa announced it won a contract with the National Railway Company for works on Ramnicu Valcea railway station, worth RON20.82m (EUR4.9m). (Source: Concefa) [...] >> mai mult >>
iulie 26, 2011
FONDUL PROPRIETATEA (FP RO): FP continues the buy-back program.
FONDUL PROPRIETATEA (FP RO): FP acquired another 49.79m shares worth RON25.69 during 18th – 22nd of July at an average price ranging between 0.5144-0.5248 RON/share as part of the buy-back program. (Source: FP) [...] >> mai mult >>
iulie 26, 2011
The company announced with five day delay the fine worth EUR 14.34m received from the National Agency for Environment Protection for not returning in time the 2009 certificates of emission of greenhouse gases. The company announced it has started the legal procedures for contesting this decision in [...] >> mai mult >>
iulie 25, 2011
EBRD improves Romania’s 2011 economic growth forecast to 1.9%, from 1.8%.
EBRD analysts hiked Romania’s 2011 economic growth forecast on growing exports, higher industrial production and recovery in construction sector, although new austerity measures adopted by the Government as part of the precautionary agreement with the IMF will affect the internal demand [...] >> mai mult >>
iulie 25, 2011
ZEW sees Romania’s economic growth outlook best in CEE.
Analysts’ perception on Romanian economy growth outlook for the next semester is the best in Central and Eastern Europe in July, as the index measuring the analyst’s perception of the economic outlook in the next six months rose 4.6 points to 21.2 points in case of Romania. The numbers [...] >> mai mult >>
iulie 25, 2011
Concefa management convenes a shareholders meeting on 29th of August to vote on the approval of a share capital increase in cash by RON 14.2m to RON 71.06m by issuing a number of 142.12 million new shares at a face value of 0.1RON/share. Each existing shareholder will receive one new share [...] >> mai mult >>
iulie 25, 2011
SPCU’S current shareholding structure is Boromir Ind with as 67.57% stake, while individuals own 9.25% and legal persons hold 23.18%. (Source: Boromir Prod Buzau, Central Depositary) [...] >> mai mult >>
iulie 25, 2011
DAFR management proposes the approval of a share capital increase in cash and through conversion of outstanding and liquid debt, payable in DAFR’s shares, from RON 5.1m to RON 102.48m by issuing a number of 51.24 million new shares at a face value of 0.1RON/share. Each [...] >> mai mult >>
iulie 22, 2011
OMV Petrom’s hydrocarbon production increased to 187,000 boe/day (+2.75% YOY) in the second quarter accounting for 68% of total hydrocarbon production of the Group, as production optimization initiatives have mitigated the natural decline. Q2 results are also supported by the favorable oil [...] >> mai mult >>
iulie 22, 2011
According to a statement released by the Ministry of Public Finance, the scheduled value of the auction (RON350m) was oversubscribed by 10.8%, while total banks’ bids reached RON624m. The average yield for the 10-year treasury bonds slightly dropped to 7.46% from 7.47% registered in the [...] >> mai mult >>
iulie 22, 2011
EBRD interested in acquiring stakes in Romanian companies.
According to EBRD’s local director Claudia Pendred, the European Bank of Reconstruction and Development might be interested in acquiring stakes in Romanian state-owned companies, including Transelectrica (TEL) and Transgaz (TGN), but is currently waiting for the Government to release the sales [...] >> mai mult >>
iulie 22, 2011
BANCA TRANSILVANIA (TLV RO): The Central Depository registered TLV’s share capital increase.
The Central Depository registered TLV’s share capital increase approved in April’s SGA from RON1.477bn to RON1.773bn after issuing a number of 295,735,713 new shares at a face value of RON1 per share from 2010 and previous years’ reserves. (Source: Banca Transilvania) [...] >> mai mult >>
iulie 21, 2011
Following Government’s decision to extend by five years the time period for Neptun concession agreement, OMV Petrom in partnership with ExxonMobile Exploration and Production Ltd. will start drilling the first deep water exploration well in the Romanian waters of the Black Sea by end of 2011 - [...] >> mai mult >>
iulie 21, 2011
Yesterday’s closing price stood at RON0.067 per share, value equal to the average trading price. (Source: VES Sighisoara) [...] >> mai mult >>
iulie 21, 2011
Romanian construction materials producer Prefab applied for EU funding worth EUR5.3m to invest in a cogeneration power-heating plant near its production facility in Calarasi. The unit will deliver heat to its concrete production plant, while the electricity from the facility with an installed [...] >> mai mult >>
iulie 20, 2011
According to the Economy Minister, Ion Ariton, Transgaz and Transelectrica secondary public offerings will start in Q4. Ariton also declared that Romgaz will be listed next year, but no date was officially announced yet. (Source: Wall-Street.ro) [...] >> mai mult >>
iulie 20, 2011
Following a strong second quarter, Aerostar posted strong H1’11 RAS financial results with EBITDA at RON11.29m, almost 4.x higher YOY, following strict cost containment measures leading to an operating profitability of RON7.82m compared to RON0.17m in H1 last year. Despite 10% lower YOY sales, [...] >> mai mult >>
iulie 20, 2011
According to Rompetrol CFO Dimitri Grigoriev, Constanta Court has decided that the EUR 516m debt conversion into equity performed by Rompetrol Rafinare Petromidia (RRC) in 2010 was legal, and it’s currently negotiating with the Government a takeover of the stakes held by the state in the [...] >> mai mult >>
iulie 19, 2011
Romanian Ministry of Finance sold 1-year T-Bills worth RON 900m at 6.2% average yield.
Romania’s Finance Ministry sold on Monday a planned issue of one-year treasury bills worth RON900m, equivalent of EUR210.8m, at an average yield of 6.18%, little changed from the previous auction. (Source: Mediafax.ro) [...] >> mai mult >>
iulie 19, 2011
Romania to issue up to RON15bn of government debt in Q3.
According to a statement issued by the Finance Ministry on Monday, Romania plans to issue between RON 13bn-15bn worth of government securities in the third quarter of this year, and will use the funds to finance its budget deficit and refinance public debt. (Source: SeeNews.com) [...] >> mai mult >>
iulie 19, 2011
ANOFM: Romania’s June unemployment rate drops to 4.78% compared to 4.97% in May and 7.44% in June 2010. (Source: ANOFM.ro) [...] >> mai mult >>
iulie 19, 2011
Joint IMF, World Bank and EC mission to arrive tomorrow in Bucharest.
In order to conduct the second evaluation of the precautionary stand-by agreement, a joint IMF, World Bank and European Commission mission will arrive tomorrow in Bucharest and remain until the 1st of August to analyze the implementation of the reforms and target achievement for H1’11. [...] >> mai mult >>
iulie 19, 2011
OMV PETROM (SNP RO): Minimum selling price for OMV Petrom’s offer to be announced by tomorrow.
According to Renaissance Capital’s general manager Angelo Morganti, the minimum price for the sale of 9.84% of OMV Petrom shares will be set by the Government in a meeting which will be held today. Recall that the maximum price was set at RON0.64 per share and that the offer is running for two [...] >> mai mult >>
iulie 19, 2011
FONDUL PROPRIETATEA (FP RO): FP acquired another 13.18m shares
FONDUL PROPRIETATEA (FP RO): FP acquired another 13.18m shares worth RON6.93m during 11th – 15th of July at an average price ranging between 0.52-0.5303 RON/share as part of the buy-back program. (Source: FP) [...] >> mai mult >>
iulie 19, 2011
VES SIGHISIOARA (VESY RO): Aquadune Limited Nicosia increased its stake in VESY
VES SIGHISIOARA (VESY RO): Aquadune Limited Nicosia increased its stake in VESY from 4.8% to 17.13% after acquiring yesterday from major shareholder Chimsport Orastie a number of 14.64m shares at a price of RON0.0782 per share, 4.7% above closing price. (Source: Ves Sighisoara) [...] >> mai mult >>
iulie 18, 2011
NBR: Romania's Jan-May current account gap shrinks by 37.7% YoY to EUR 1.818bn.
According to the Central Bank data published on Friday, Romania's current account gap narrowed through May by 37.7% YoY to an estimated EUR 1.818bn due to a 23.9% lower trade deficit and rising current transfer surplus (+85.8%). NBR’s statement shows that foreign direct investments (FDI) [...] >> mai mult >>
iulie 18, 2011
Romania's total external debt increased by 4.19% YTD in the first five months, to EUR 94.719bn.
According to the data published by the NBR, the medium and long-term debt represents 78.7% of Romania’s total external debt in January-May 2011, while the short-term debt increased to 21.3% at EUR 20.154bn. The end-May figure includes EUR 74.565bn in long-term and medium-term foreign debt, up [...] >> mai mult >>
iulie 18, 2011
Fondul Proprietatea’s (FP) NAV decreased in June by 1.4% against May’s NAV per share of 1.1920 RON on the back of a 4.7% decline in the value of listed shares down to RON6bn while the unlisted holdings stood flat at RON 9.38bn. Cash surged three times to RON29.8m while bank deposits in [...] >> mai mult >>
iulie 18, 2011
ERSTE GROUP BANK AG (EBS RO): Stress test results confirmed the solid capitalization.
Erste Group Bank AG was subject to the 2011 EU-wide stress test conducted by the European Banking Authority (EBA) that covers a two-year time horizon, 2011-2012. As a result of the negative scenario, the estimated consolidated Core Tier 1 capital ratio of Erste Group Bank AG would change to 8.1% in [...] >> mai mult >>
iulie 18, 2011
The company published the simplified prospectus for the share capital increase stating that it targets to attract funds in order to support the investment program and that it aims to change the capital structure by reducing the reserves. Major shareholders at reference date were IAROM with a 71.09% [...] >> mai mult >>
iulie 18, 2011
PREFAB BUCURESTI (PREH RO): Prefab continued the buy-back program
PREFAB BUCURESTI (PREH RO): Prefab continued the buy-back program and acquired during 6th -14th of July 2,700 shares at an average price of RON2.27 per share, in total worth of RON 6,129. Out of the total number of 4,853,341 shares to be redeemed, only 27,200 shares were acquired. (Source: Prefab) [...] >> mai mult >>
iulie 15, 2011
SIF MUNTENIA (SIF4 RO): SIF Muntenia announced yesterday it will start paying 2010 dividends on 1st of August. (Source: SIF Muntenia) [...] >> mai mult >>
iulie 15, 2011
A 15.25% stake was transferred at an average price of 3.225 RON/share (+24% to Wednesday’s closing price) while a further 18.58% stake was transferred on Deal market at an average price of 3.2 RON/share (+23% to Wednesday’s closing price). (Source: Argus Constanta) [...] >> mai mult >>
iulie 15, 2011
UCM RESITA (UCM RO): The Central Depository registered UCM’s share capital increase
UCM RESITA (UCM RO): The Central Depository registered UCM’s share capital increase from RON9.4m to RON96.5m after the issue of 871,398,660 new shares at a face value of RON0.1 per share. Major shareholder is INET AG TENTLINGEN holding a 99.63% stake. (Source: UCM Resita) [...] >> mai mult >>
iulie 15, 2011
CONDMAG SA (COMI RO): Condmag signed a 4-month contract with OMV Petrom worth EUR 2.9m.
CONDMAG SA (COMI RO): Condmag signed a 4-month contract with OMV Petrom worth EUR 2.9m. The works started in June 2011 and cover installation of pipelines and related compounds. (Source: Condmag) [...] >> mai mult >>
iulie 15, 2011
OIL TERMINAL (OIL RO): OIL is suspended from trading as shareholders approve today 2011 guidance
OIL TERMINAL (OIL RO): OIL is suspended from trading as shareholders approve today 2011 guidance, incorporating 0.4% higher revenues on stronger sales, expenses up 0.3%, while EBT is seen rising by 4.7% to RON 3.14m. (Source: OIL Terminal) [...] >> mai mult >>
iulie 14, 2011
TRANSELECTRICA (TEL RO): TEL published H111 preliminary RAS numbers posting a net profit of RON15m vs. a loss of RON58m in H110, supported by higher operating profitability on 9% YOY higher top line of RON1.32bn and by lower financial losses worth RON50M vs. RON74m in the same period last year. [...] >> mai mult >>
iulie 13, 2011
The proposed guidance revises the RAS gross profit by 70% to RON42m, almost double YOY, vs. RON25m foreseen by the initial guidance (+15% YOY). Also, total revenue seen at RON 2,433m, 12.5% lower versus previous budget (-9% YOY), while total expenses are expected to decline by 13.2% to RON 1,392m [...] >> mai mult >>
iulie 13, 2011
TRANSGAZ Medias (TGN RO) shareholders approved 2011 budget.
TGN shareholders approved yesterday the RAS FY11 Guidance approved by the Government on the 18th of May, posting a conservative 6.6% YOY lower sales and a 3x YOY lower net profit. In our FY11E IFRS forecast we see revenues down by 3% YOY on lower assumed volume transported and also based on the fact [...] >> mai mult >>
iulie 13, 2011
SSIF BROKER CLUJ (BRK RO): BRK continues the buy-back program
SSIF BROKER CLUJ (BRK RO): BRK continues the buy-back program and acquired 257,500 shares during 7th – 11th of July, at an average price ranging between 0.2493-0.2655RON/share, in total worth of about RON 0.065m. (Source: SSIF Broker Cluj) [...] >> mai mult >>
iulie 13, 2011
FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea continued the buy-back program
FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea continued the buy-back program and acquired on 5th of July 5.35 million shares at an average price of 0.5306RON/share, in total worth of RON 2.83m. (Source: Fondul Proprietatea) [...] >> mai mult >>
iulie 12, 2011
Romania's June consumer price index decreased 0.29% MoM, up 7.93% YoY.
Romania's June consumer prices surprisingly fell, mainly due to 1.34% MoM cheaper food, fuelled mainly by a 11.08% MoM decline in vegetable prices, although the highest increase on the month was registered by fresh fruits, namely 2.19%. On the year, food prices gained 9.81%, non-food prices [...] >> mai mult >>
iulie 12, 2011
TRANSGAZ Medias (TGN RO) is suspended from trading today due to O&E General Meeting of Shareholders, main point on the agenda being the approval of 2011 budget which foresees a 90% dividend payout rate from 2011 profits. In our forecasts, we currently incorporate a more rational assumption of a [...] >> mai mult >>
iulie 12, 2011
DAFORA MEDIAS (DAFR RO): Dafora signed a 4-year drilling contract with OMV Petrom worth EUR 23m.
DAFORA MEDIAS (DAFR RO): Dafora signed a 4-year drilling contract with OMV Petrom worth EUR 23m. The contract can be extended by one year and the works will start at the end of July this year.(Source: Dafora) >> mai mult >>
iulie 12, 2011
SIF MOLDOVA (SIF2 RO): STK Financial closed-end fund reported on 7th of July to hold 5.18 million shares in SIF Moldova, representing a 0.9986% stake. (Source: SIF Moldova) [...] >> mai mult >>
iulie 12, 2011
SIF BANAT CRISANA (SIF1 RO): SIF1 reported it cashed from AVAS, through forced execution proceedings, the first tranche of debt worth cRON2.92m. (Source: SIF Banat Crisana) [...] >> mai mult >>
iulie 12, 2011
The development project is financed by European funds and targets the fundamental change of the manufacturing flows and the introduction of technologies in order to increase productivity and competitiveness on both domestic and foreign markets. (Source: Comelf) [...] >> mai mult >>
iulie 11, 2011
Seasonally adjusted industrial production indices hiked 8% YOY (+1.6% MoM) in May.
According to the National Statistics Institute, the mining sector registered the highest advance, namely 16% YOY (down 2.1% MoM) as an adjusted series, while manufacturing sector hiked by 7.8% YOY (up 2.2% MoM), as electric and thermal energy sector gained 6.2% YOY (down 2.7% MoM). By large [...] >> mai mult >>
iulie 11, 2011
BRD-GSG (BRD RO): Fitch upgrades BRD from “BBB” to “BBB+”, with stable outlook.
Following the positive review of Romania’s rating last week, Fitch Ratings announced on Thursday evening, the upgrade of the long-term debt ratings of BRD Societe Generale, BCR and UniCredit Tiriac Bank, from “BBB” to “BBB+”, with a stable outlook, on grounds that these [...] >> mai mult >>
iulie 11, 2011
According to FP’s shareholding structure at the end of June, as published by the Central Depositary, Romanian private individuals’ stake in the subscribed capital increased from 35.42% to 37.02%, while foreign private individuals holding slightly declined from 8.79% to 8.69%, Romanian [...] >> mai mult >>
iulie 11, 2011
PRODPLAST (PPL RO): Takeover bid to be launched this week for a 59.89% stake in Prodplast.
The takeover bid will be launched by three firms owned by businessman Florin Pogonaru acting in a jointly manner, eying the remaining stake of 59.89% in plastic products manufacturer Prodplast, at a price of RON 1.27 per share, 3.6% above Friday’s closing price. The offer was approved by the [...] >> mai mult >>
iulie 7, 2011
Romania’s May industrial turnover was up 10.3% MoM, +17.3% YoY.
Romanian industrial sales rose 10.3% MoM in May supported by a 10.6% rise in manufacturing industry while mining sector rose 2%. On yearly basis, industrial turnover was up 17.3% as manufacturing sector was up 17.7% and mining sector recorded a 8.2% rise. In the first five months industrial sales [...] >> mai mult >>
iulie 7, 2011
Industrial new orders were up 18.3% YOY in May.
Industrial new orders advanced due to increases in all industrial groups: intermediate goods industry (+26.7% YOY), capital goods industry (+14.2%), durable goods industry (+18.8%) and household goods industry (+10.7%). On monthly basis, new orders in industry advanced by 3% as durable goods [...] >> mai mult >>
iulie 7, 2011
NSI: Energy resources up 5.8% YOY in Jan-May 2011.
According to the National Statistics Institute, the local production rose 5.5% YOY in the first five months of 2011 on the back of 18.8% YOY higher coal production, while imports increased by 6.5% YOY, backed by 65.7% YOY higher imported natural gas. (Source: National Statistics Institute) [...] >> mai mult >>
iulie 7, 2011
Warsaw was selected from a short list including London and Vienna. Furthermore, Templeton announced that the secondary listing should be combined with an offering of up to 10% of the existing shares. The proposal will be submitted to shareholders approval at the GSM planned to take plae in September [...] >> mai mult >>
iulie 7, 2011
OMV PETROM (SNP RO): Announcement regarding public offer for the 9.48% stake was released.
The Ministry of Economy announced the details regarding OMV Petrom’s public offer which was approved yesterday by the National Securities Commission, as follows: the selling price for the 9.84% stake was set to a maximum value of 0.46 RON/share, 85% of the total number of shares are offered to [...] >> mai mult >>
iulie 6, 2011
Romania, third-sharpest retail decline in EU in May.
According to Eurostat data, Romania posted in May the third sharpest YoY retail decline in EU, four-times steeper than the 1.4% EU average. Portugal, Spain and Romania experienced the steepest annual decline of 8%, 7.7% and 6%, respectively. At the opposite end stand Luxembourg, Lithuania and [...] >> mai mult >>
iulie 6, 2011
FONDUL PROPRIETATEA (FP RO): FP continued the buy-back program.
FONDUL PROPRIETATEA (FP RO): FP acquired another 6.87m shares worth RON3.65m during June 27th - July 1st at an average price of 0.5313 RON/share as part of the buy-back program. (Source: FP) >> mai mult >>
iulie 6, 2011
TRANSGAZ MEDIAS (TGN RO): Transgaz published the regulatory asset base (RAB) for 2007-2011.
In 2007, the regulatory asset base stood at RON 1,860.27m, while for 2011 the company sees additional tangible and intangible assets put into operation worth RON 253.77m. (Source: Transgaz) >> mai mult >>
iulie 5, 2011
Romania upgraded by Fitch to investment grade, rating “BBB-” with stable outlook.
Romania had its long-term foreign currency default rating raised from “BB” to “BBB-” and the long-term local currency rating raised from “BBB-” to “BBB” with stable outlook, based on the progress in recovering from the financial crisis, citing that [...] >> mai mult >>
iulie 5, 2011
Trade with food products, tobacco and beverages adjusted series fell by 10.3% YOY, non-food products trade fell by 3.9% YOY while retail of automotive fuel in specialized stores declined by 3.8% YOY. On monthly basis, turnover in retail trade rose both on unadjusted and adjusted series by 1.1% [...] >> mai mult >>
iulie 5, 2011
Romania’s IPP index up 8% YoY, down 0.3% MoM in May.
In May, manufacturing prices rose 8.94% YoY (down 0.39%MoM), while the energy sector prices rose 3.71% YoY (up 0.08% MoM), as prices in the mining industry gained 4.22% YoY (up 0.36% MoM) in May, as prices in the water and waste management sector strongly increased by 8.48% YOY (up 0.18% MoM) in [...] >> mai mult >>
iulie 5, 2011
According to a statement released by the Ministry of Public Finance, the scheduled value of the auction (RON850m) was fully subscribed, although banks oversubscribed by 4.8x. The average yield for the one-year Treasury bills dropped to 6.37% from 6.65% in the previous auction in June. (Source: [...] >> mai mult >>
iulie 5, 2011
NBR: Non performing loans (NPL) ratio may peak this year.
According to a report released by the National Bank of Romania, although in 2010 there was a slowdown of the growth of NPL’s share in total loans portfolio, NPL ratio could reach a maximum level during 2011, while their volume shall decline once resumption of sustainable private sector lending [...] >> mai mult >>
iulie 5, 2011
Bucharest Stock Exchange (BVB RO) announced that starting with 11th of July it will extend the trading hours by 15 minutes from 4.30 PM to 4:45 PM. Trading will last until 4:40PM, pre-closing will be during 4:40-4:45 PM. Auxiliary markets will close at 4:40 PM while on ATS trading will be extended [...] >> mai mult >>
iulie 5, 2011
According to a bank’s statement, the President of the company, Horia Ciorcila, and the other persons charged were acquitted by the Bucharest Court for insider trading charges regarding 2009 trades with Banca Transilvania’s stock. (Source: Banca Transilvania, ZF) [...] >> mai mult >>
iulie 4, 2011
The foreign currency reserves of the National Bank (BNR) have increased by EUR1.695bn to EUR34.402bn at the end of June, following inflows of EUR 2,460m representing funds cashed by the Finance Ministry and the change in the minimum FX reserves of the banks, inflows into the EU account, filing of [...] >> mai mult >>
iulie 4, 2011
Outstanding public debt drops to 36.06% of GDP in April 2011.
According to the Ministry of Public Finance, outstanding public debt increased by 0.5% YTD and 12.4% YOY to RON195.47bn, reaching 36.06% of GDP compared to 37.86% of GDP in December 2010 and 33.85% in April 2010, as RON-denominated debt increased by 1.14pp YTD and rose by 0.9pp YOY to a 47.35% [...] >> mai mult >>
iulie 4, 2011
According to market sources, the Economy Ministry intends to launch the public offer for the 9.84% stake on 11-12 of July, following the first in, first out rule, for the highest price and biggest package bid, planning to offer 80-90% to institutional investors and 10-20% to retail investors. The [...] >> mai mult >>
iulie 4, 2011
COMCM Constanta (CMCM): Two shareholders reported to hold stakes above 5%.
According to two reports sent by the company to BSE, Fratila Maria acquired on Friday 3.64 million shares representing a 1.54% stake in CMCM and increased her holding above 10%, while major shareholder Fratila Constantin reduced his stake by 1.19% from 32.76% after selling 2.82 million shares. [...] >> mai mult >>
iulie 4, 2011
Vreme,Communications Minister: Romtelecom will be listed on BSE within one year.
Valerian Vreme, Communications Minister stated that Romtelecom, the largest local fixed telephony operator will be listed on the Bucharest Stock Exchange by July 2012 and that the consultant and the law firm that will assist the Romanian state in this process will be decided by September 1st. [...] >> mai mult >>
iulie 1, 2011
ALRO SA (ALR RO): Alro postpones the secondary public offer due to unfavorable market conditions.
Alro announced that main shareholder Vimetco and minority shareholder Conef SA have decided to postpone the secondary public offer for the 20.96% stake worth EUR130m, which was initially programmed to be completed by July 15th. The offer was delayed due to unfavorable market conditions, and because [...] >> mai mult >>
iulie 1, 2011
According to a FP statement, Franklin Templeton has decided to postpone the announcement regarding the recommendation for shareholders on the secondary listing, which shall be made public next week instead of the end of June 2011, as stated in April. (Source: Fondul Proprietatea) [...] >> mai mult >>
iulie 1, 2011
The shareholder of the two companies absorbed will receive 0.901 SPCU shares for one Boromir Pan share and 62.342 SPCU shares for a Eurostar Invest share. Following the merger, Boromir Ind will remain the major shareholder in Boromir Prod with a 67.56% stake compared to 64.61% currently. (Source: [...] >> mai mult >>
iunie 30, 2011
NBR keeps the key rate and reserves requirements unchanged.
The Central Bank has not changed the key interest since May 2010, when it lowered it from 6.5% to 6.25%. The bank kept also the minimum reserves rates at current levels of 15% for liabilities in national currency and 20% for FX. (Source: National Bank of Romania) >> mai mult >>
iunie 30, 2011
NBR: Non-government loans up 1.5% MOM in May, down 0.8% YTD.
According to the Central Bank’s press release, the nongovernment loans granted by credit institutions declined by 0.8% YTD in May, from RON 209.3bn to RON 207.6bn, on the back of a 2% YTD decline in FX loans on 2.7% YTD lower household FX loans, despite the 1.34% YTD increase in [...] >> mai mult >>
iunie 30, 2011
In absolute figures the overdue amounts rose by 46.59%YOY and 14.72%YTD to EUR 4.4bn, as the total stock of loans rose 2.42%YOY and declined 0.7%YTD to EUR49.8bn. RON denominated non-government loans hiked 0.4%YOY and 1.34%YTD, while FX loans gained 3.4%YOY and dropped 1.93%YTD. On the other hand, [...] >> mai mult >>
iunie 30, 2011
In order to finance budget deficit and to refinance public debt, the Ministry of Public Finance plans to attract RON 13-15bn in treasuries from the local market in Q3’11, similar to Q2’11, reissuing also bonds with 3, 5 and 10-year maturity. For the entire year, the Ministry will cover [...] >> mai mult >>
iunie 30, 2011
Main shareholder Vimetco intends to sell a 20.96% stake in Alro, worth about EUR 130m, but recently announced to delay the offer until autumn. Initially, the offer was supposed to be completed by July 15th and take place in parallel for one week with Petrom’s offer starting in the second week [...] >> mai mult >>
iunie 29, 2011
The Executive Board of the International Monetary Fund (IMF) completed on Monday the first review of Romania's economic performance under the 24-month precautionary Stand-By Arrangement (SBA) and IMF is now ready to disburse the EUR 481m tranche. (Source: DoingBusiness.ro) [...] >> mai mult >>
iunie 29, 2011
According to Jeffrey Franks, head of the IMF mission to Romania, Q2’11 economic growth is seen lower compared to Q1’11 numbers, as preliminary data shows lower growth in exports and industrial production in Q2 versus Q1, while for end of 2011 the 1.5% economic growth estimation is [...] >> mai mult >>
iunie 29, 2011
Unemployment dropped to 4.97% in May, from 5.41% in April.
According to the Romanian National Employment Agency (ANOFM), the unemployment rate fell to 4.97% in May from 5.41% in April, and 7.7% in May 2011. (Source: ANOFM) [...] >> mai mult >>
iunie 29, 2011
NSI: Managers estimate for June – August 2011 moderate increase in manufacturing, retail and services, while constructions are expected to rise against previous three months. (Source: National Statistics Institute) [...] >> mai mult >>
iunie 29, 2011
NSI: building permits, down 3.3% YOY in the first five months.
According to data published by NSI, in the first five months the number of building permits issued fell by 3.3% over the same period in 2010, while in May only a number of 4,236 building permits were issued, up 34.7% MoM and by 6.7% YOY. (Source: National Statistics Institute)
[...] >> mai mult >>
iunie 29, 2011
Recall that last week Broker Cluj Napoca (BRK) and SIF Banat Crisana (SIF1) sold their holdings of 11.4% and 13.08%, respectively, while the general manager, Popoviciu Viorel, decreased his stake from 17.7% below 5% to 0.05%. (Source: Carbochim) [...] >> mai mult >>
iunie 27, 2011
Natural gas price hikes 10% for industrial consumers.
On Friday, gas price regulator ANRE has decided to increase the gas price for industrial consumers by 10% as of July, on higher import prices and the government’s bill that require cheaper gas for residential users and the modification in the weight of imported gas in the unified gas price [...] >> mai mult >>
iunie 27, 2011
The Bucharest’s Stock Exchange market shareholder meeting held on Saturday did not meet the 50% quorum requirement in order to vote on the merger with Sibex market, and on the capital reduction. (Source: ZF) [...] >> mai mult >>
iunie 27, 2011
ASTRA SA (ATRA RO): Astra Asigurari to sell 16% stake in Generali Asigurari for RON20m.
Insurer company Astra Asigurari intends to sell its entire 16.03% stake in Generali Asigurari to Generali Holding Vienna, for RON20.75m, the transaction being under approval by the insurance market regulator CSA. (Source: IntelliNews) [...] >> mai mult >>
iunie 24, 2011
The Ministry of Finance sold RON293.8m in ten-year treasuries at an average yield of 7.47%.
The scheduled value of the auction (RON600m) was undersubscribed by half, although the total demand reached RON 0.9bn, while the average yield slightly increased from 7.45% in May to 7.47%. (Source: BNR) [...] >> mai mult >>
iunie 24, 2011
ANRP sent to the Central Depository during 1st-16th of June a number of 318 conversion titles transferring a stake of 1.78% worth about EUR 31m at last closing price of 0.53RON/share. Therefore, State’s stake was diluted from 25.25% at the end of May to 23.47%. (Source: Bursa.ro) [...] >> mai mult >>
iunie 24, 2011
BUCHAREST STOCK EXCHANGE (BVB RO): BSE was included in Dow Jones Global Exchange Index.
According to a BSE statement, starting with the 17th of June, the stock was included in the Dow Jones Global Index, which measures the performance of other 23 publicly traded stock exchange markets and trading platforms. According to the last quarterly review released on June 8, 2011, the [...] >> mai mult >>
iunie 24, 2011
Yesterday, abrasives producer Carbochim shares worth 7.26m were transferred through five deal transactions, representing 23.4% of the company’s share capital. According to sources close related to the transactions, the sellers were identified as Broker Cluj Napoca (BRK) and SIF Banat Crisana [...] >> mai mult >>
iunie 23, 2011
ZENTIVA SA (SCD RO): Zentiva SA lends RON 50m to Sanofi SA.
According to the pharmaceutical company Zentiva’s statement, the loan granted to Sanofi SA was contracted for a 3-month period and an interest rate equal to ROBOR-0.15%. The penalty policy will be applied starting with 5 days after the maturity and the interest applied will be +1%. (Source: [...] >> mai mult >>
iunie 23, 2011
Uniqua Group sold its 27% stake in Astra Asigurari (ATRA RO)
Uniqua Group sold its 27% stake in Astra Asigurari (ATRA RO) yesterday at an average price of 5.415RON/share in total worth of RON 106m. Most probably the buyer is The Nova Group Investments, owner of a further 72.68% stake, company controlled by Dan Adamescu. (Source: BSE) [...] >> mai mult >>
iunie 22, 2011
Eurostat: Romania’s 2010 GDP per capita drops to around 55% below the EU27 average.
According to Eurostat’s news release regarding first estimates for 2010 GDP per capita in the Member States of the EU27, Romania’s 2010 GDP per capita expressed in purchasing power standards (PPS) fell to 55% below EU27 average registering the second lowest level among the Member States [...] >> mai mult >>
iunie 22, 2011
IMF postpones Romania loan review meeting for June 27th.
The International Monetary Fund has modified its board agenda, postponing the review on Romania’s progress under a EUR3.5bn precautionary loan agreement for June 27, initially set for June 24. Recall that the agreement is of preventive type, therefore the access to the amount of EUR 3.6bn [...] >> mai mult >>
iunie 22, 2011
Ernst&Young raised Romania's 2011 economic growth forecast to 1.4%.
According to the Euro zone Forecast Summer 2011 quarterly report published in collaboration with Oxford Economics, Ernst&Young raised its 2011 Romanian economic growth forecast to 1.4% from 0.9% projected in April with exports the main growth driver, while for next year it now sees a [...] >> mai mult >>
iunie 22, 2011
DAFR management convenes a shareholders meeting on 25th of July to vote on the approval of a share capital increase in cash and through conversion of outstanding and liquid debt, payable in DAFR’s shares. The share capital shall increase by RON 5.1m to RON 102.48m by [...] >> mai mult >>
iunie 20, 2011
IMF warns USA and Europe to be careful regarding their debt disputes.
According to IMF’s April report, the risks to recovery have increased in recent months, IMF criticizing the lack of political leadership shown in recent months over the Greek situation, and the deadlock between the US government and its opponents over raising USA's debt ceiling. The [...] >> mai mult >>
iunie 20, 2011
Eurostat: Romania ranked sixth in the EU based on export increase.
According to Eurostat, Romania ranked sixth in the European Union (EU) based on the increase of exports in the first quarter of the year, up 40% to EUR 11.1bn, from EUR 7.9bn in Q1 2010. Based on imports soaring by 26%, from EUR 10bn to EUR 12.6bn, Romania ranked ninth in the first quarter. In the [...] >> mai mult >>
iunie 20, 2011
According to EIB officials in Bucharest, the European Investment Bank has started discussions with the Government regarding a possible financing aid for state-owned natural gas grid operator Transgaz to help build the Nabucco Pipeline, after the starting of the project was postponed for 2013. The [...] >> mai mult >>
iunie 20, 2011
Ariton, Economy Minister: The 9.8% stake in OMV Petrom (SNP RO) to be sold by end-July.
Economy Minister Ion Ariton declared on Friday that authorities plan to sell the 9.8% stake in Petrom by the end of July at “the best possible price”. The price will be approved by the government after consultants finish their evaluation. Officials have previously stated the sale was [...] >> mai mult >>
iunie 20, 2011
NEP has 76.93 million shares with a face value of 0.01EUR/share and will start trading today on the regulated market of BSE, at a price of 15.4RON/share. The company intends to distribute to shareholders at least 90% of its revenue profits on a semi-annual basis, while capitals gains derived from [...] >> mai mult >>
iunie 20, 2011
Tomorrow Deutsche Telekom AG (DTE), Bayer AG (BAYN) and E.ON AG (EOAN) will start trading on BSE alternative trading system CAN-ATS. (Source: BSE) [...] >> mai mult >>
iunie 17, 2011
NBR: Yields on Romania's 58-month treasuries reached 7.34%.
According to the National Bank of Romania, the Treasury issued RON 330m in 58-month treasuries at an average yield of 7.34%, slightly higher compared to the last issue with a 40-months maturity from June 9, of 7.18%. The Ministry of Public Finance intends to attract RON 4.3bn from treasuries in June [...] >> mai mult >>
iunie 17, 2011
SIF TRANSILVANIA (SIF3): The Constitutional Court remains on hold regarding SIFs 1% threshold.
According to a SIF Transilvania statement sent to BSE, during the 16th of June trial, the Constitutional Court still remained on hold regarding the raise of the minimum threshold to 5%, from 1% as set in 2005. (Source: SIF3) [...] >> mai mult >>
iunie 17, 2011
MJM will issue a maximum of 5.02 million shares at a face value of 1RON/share, out of which 0.92 million shares will be offered to the existing shareholders while 4.1 million shares will be used to convert receivables due to MJ Maillis Industrial Packaging Systems & Technologies. Registration [...] >> mai mult >>
iunie 17, 2011
CEON issued 18.48 million new shares with a face value of 0.1RON/share. According to the shareholders’ structure at June 15, Broker Cluj (BRK) owns a 12.81% stake while individuals hold 38.03% as legal persons own a 49.15% stake. (Source: Cemacon) [...] >> mai mult >>
iunie 16, 2011
Ghetea: Retail banking loans to start picking up steam in H2 of 2011.
The chairman of the Romanian Banking Association (ARB), Radu Gratian Ghetea, claims that loans on the retail banking segment would start picking up steam in the second half of the year. He admitted that retail will no longer reach the 2006-2007, even early 2008, level, but there will be signs of a [...] >> mai mult >>
iunie 16, 2011
Bucharest Court postpones SIF Moldova (SIF2 RO) – BCR trial until August.
SIF2, which holds 6% in the largest Romanian bank BCR, challenged in court the lender’s shareholders decision to not pay dividends from 2010 profit as the bank is required to pay dividends until the bank's listing, according to the BCR privatization contract and to its articles of [...] >> mai mult >>
iunie 16, 2011
City of London Investment Management Company took a 5.85% stake in Fondul Proprietatea (FP RO).
City of London Investment Management has reported a holding of 5.85% in Proprietatea Fund (FP), according to a According to a statement issued by FP to the Bucharest Stock Exchange, City of London directly owns 134,08 million shares and indirectly a number of 668,200 warrants issued by UniCredit [...] >> mai mult >>
iunie 16, 2011
FP’s (FP RO) May NAV down by 0.7% MoM (+7.1% YTD) at RON 16.39bn or RON 1.1920 per share.
Fondul Proprietatea’s (FP) NAV decreased in May by 0.7% against April’s NAV per share of 1.2004 RON on the back of a 6.7% decline in the value of listed shares down to RON6.29bn while the unlisted holdings advanced by a mere 1.8% to RON 9.38bn. Cash rose by 10.2% to RON7.1m while bank [...] >> mai mult >>
iunie 15, 2011
Romania's total external debt increased by 2.33% YTD in the first four months, to EUR 93.23bn.
According to the data published by the NBR, the medium and long-term debt represents 79.25% of Romania’s total external debt in January-April 2011, while the short-term debt increased to 20.75% at EUR 19.3bn. The end-April figure includes EUR 73.723bn in long-term and medium-term foreign debt, [...] >> mai mult >>
iunie 15, 2011
NBR: Romania's Jan-Apr current account gap shrinks by 46.4% YoY to EUR 1.152bn.
According to the Central Bank data published on Tuesday, Romania's current account gap narrowed through April by 46.4% YoY to an estimated EUR 1.152bn due to lower trade deficit and rising current transfer surplus. NBR’s statement shows that foreign direct investments (FDI) [...] >> mai mult >>
iunie 15, 2011
Romania recorded in 2010 a population employment rate of 58.8%.
The employment rate of working age population (15-64 years) was 58.8% last year, while the employment rate of people aged 20-64 years was 63.3% at a distance of 6.7 percentage points to the national [...] >> mai mult >>
iunie 15, 2011
Epure, Credit Bureau: The share of debt owed in the total amount of debt climbed to 6% in May.
According to the General Manager of the Credit Bureau, Serban Epure, the total amount of arrears due reached 6% in 2011 compared to about 4% over the same month last year and below the 2% in May 2009. (Source: NewsIn.ro) [...] >> mai mult >>
iunie 15, 2011
SIF Transilvania (SIF3) posted in May a profit of RON 33m, supported by the dividends collected (Petrom and BRD) and also by the sales of shares from the portfolio, such as Oltchim. Ion Mihaila, deputy general manager, stated that SIF [...] >> mai mult >>
iunie 15, 2011
Fondul Proprietatea (FP RO) continued the buy-back program last week and acquired 10.02 million shares at an average price ranging between 0.4995-0.5063RON/share, in total worth of about RON 5.02m. (Source: Fondul Proprietatea) [...] >> mai mult >>
iunie 14, 2011
Romania's May consumer price index rose 0.21% MoM, up 8.41% YoY.
Romania's May consumer prices rose mainly due to more expensive food and non-food products, as food prices went up 0.21% on the month in May, fuelled mainly by a 3.99% rise in fruit prices. Prices of fresh and canned vegetables were down 0.94% and those of eggs fell by 6.41%, while non-food prices [...] >> mai mult >>
iunie 14, 2011
Fitch rates Romania’s 5-year Eurobond BB+.
The international rating agency Fitch Ratings has assigned Romania's 5-year Eurobond issued last week as part of a medium term notes programme, a rating of „BB+”. The EUR 1.5bn issue will mature on June 17th, 2016, has a coupon of 5.25% and was issued at a yield of 5.3%. Compared to the [...] >> mai mult >>
iunie 14, 2011
FY10 RAS results were in line with the preliminary results and therefore do not trigger any changes in out FY11 IFRS forecast. Despite the approved 90% dividend payout ratio, we maintain our assumptions for the current year at 54%, implying a dividend of 10.15 RON/share. (Source: Transgaz) [...] >> mai mult >>
iunie 14, 2011
Fondul Proprietatea (FP RO) sold a 1.5% stake in Oil Terminal (OIL RO) for RON 3.3m.
According to a report sent to BVB, Fondul Proprietatea has sold on Thursday a 1.55% stake in Oil Terminal for RON 3.3m (about EUR 0.8m). FP sold the shares at an average price of 0.3681RON/share, about 15% above Wednesday’s [...] >> mai mult >>
iunie 10, 2011
NSI: Trade deficit slumped by over 18.4% YoY in Jan-April to EUR 2.397bn.
Romania reported a trade gap narrowed by 18.4% YoY in the first four months, as exports rose faster than imports. Between January and April, exports rose by 33.3% YoY, to EUR 14.4bn, while imports rose by 22% YoY, to EUR 16.8bn. In April alone, trade deficit amounted to nearly EUR 900m, the highest [...] >> mai mult >>
iunie 10, 2011
Fondul Proprietatea (FP RO) will receive 2005 dividends from Romgaz worth RON 18.5m.
Fondul Proprietatea (FP RO) was awarded by the High Court of Cassation and Justice, the right to receive dividends worth RON 18.5m from Romgaz Medias, for the year 2005, when the Fund became shareholder in the company. (Source: [...] >> mai mult >>
iunie 10, 2011
Transgas Medias (TGN RO) did not meet the legally sufficient quorum for O&E General Meeting of Shareholders yesterday and will be suspended from trading today. Recall that main points on the agenda are the approval of FY10 IFRS results and the proposed dividend of 28.77RON/share. In [...] >> mai mult >>
iunie 10, 2011
OIL Constanta (OIL RO) is suspended from trading today
OIL Constanta (OIL RO) is suspended from trading today due to the Extraordinary General Meeting of Shareholders with main point on the agenda is the approval of a 1 year credit line worth RON3m. (Source: Oil Terminal) [...] >> mai mult >>
iunie 9, 2011
NSI: Romanian economy grew by 0.7% QoQ in the first three months, up +1.7% YoY.
According to the adjusted data published yesterday, industry was the main sector which recorded the highest increase in volume (+10.1%), followed by trade, repair of motor vehicles and household goods, hotels and restaurants, transport and telecommunications, up 1.1%. The preliminary data published [...] >> mai mult >>
iunie 9, 2011
WB has slightly improved Romania’s 2010 economic forecast, but lowered 2012 forecasts.
According to the Global Economic Prospects report, the World Bank (WB) has slightly improved Romania's 2010 economic growth estimate to 1.6% vs. 1.55 previously, but revised downwards the 2012 forecast from 4.4% to 3.7. The International Monetary Fund predicts a 1.5% growth for Romania this year, [...] >> mai mult >>
iunie 9, 2011
Standard & Poor's rating agency announced yesterday that it maintains the rating granted to Romania in 2008, at 'BB+' with stable outlook, one step below investment grade, while on the same day Moody’s announced it keeps Romania’s rating at “Baa3”, the lowest investment [...] >> mai mult >>
iunie 9, 2011
IMF schedules talks with Romania on SBA for June 24.
According to Mihai Tanasescu, Romania’s representative with the IMF, the Board of Executives will discuss the first quarterly review of the precautionary two-year agreement with Romania on June 24th. Tanasescu confirmed that the targets in the first quarterly review were successfully met, [...] >> mai mult >>
iunie 9, 2011
Transit states sign Nabucco’s project support agreements.
The officials of the five transit countries in the Nabucco gas pipeline (Austria, Bulgaria, Hungary, Romania and Turkey) have signed yesterday in Turkey the Project Support Agreements (PSAs) with the Nabucco Consortium, after the legal framework has been finalized. Together with the [...] >> mai mult >>
iunie 8, 2011
Romania's Jan-May budget deficit rose to 1.2% of the GDP.
According to the Ministry of Finance, Gheorghe Ialomitianu, Romania’s budget deficit declined to RON6.7bn in the first five months, reaching 1.2% of GDP projected for the year, compared to 2.4% in the same period of last year. Jan-April deficit stood at RON4.4bn, equivalent to 0.8% of the [...] >> mai mult >>
iunie 8, 2011
NSI: Constructions volume fell by 0.3% MoM, down 3.7% YOY.
Constructions volume declined by 3.7% YOY in April, with residential buildings down 26.3% YOY as non-residential buildings were up 11.7% YOY, in seasonally adjusted series. Capital repairs were up 13.4% as new constructions declined by 5.6% YOY and maintenance fell by 2.9% YOY. Versus March, [...] >> mai mult >>
iunie 8, 2011
Fondul Proprietatea (FP RO) continued the buy-back program
Fondul Proprietatea (FP RO) continued the buy-back program and acquired 17.38 million shares during May 30th – June 5th, at an average price ranging between 0.4843-0.5RON/share, in total worth of about RON 8.52m. (Source: Fondul Proprietatea) [...] >> mai mult >>
iunie 8, 2011
BRD Groupe Societe Generale (BRD RO) announced yesterday it will start paying 2010 dividends on 10th of June. (Source: BRD-GSG) [...] >> mai mult >>
iunie 8, 2011
Titan (MPN RO) announced yesterday it will start paying 2010 dividends on 1st of July.
Titan (MPN RO) announced yesterday it will start paying 2010 dividends on 1st of July. (Source: Titan) [...] >> mai mult >>
iunie 8, 2011
Bermas Suceava (BRM RO) announced yesterday it will start paying 2010 dividends on 4th of July.
Bermas Suceava (BRM RO) announced yesterday it will start paying 2010 dividends on 4th of July. (Source: Bermas) [...] >> mai mult >>
iunie 7, 2011
Romania’s February industrial turnover was down 11.3% MoM but 12.5% up YoY.
Romanian industrial sales fell 11.3% MoM in April following a 11.1% drop in manufacturing industry while mining sector fell by 16.3%. On yearly basis, industrial turnover was up 12.5% as manufacturing sector was up 12.9% and mining sector recorded a 0.8% rise. (Source: National Statistics Institute) [...] >> mai mult >>
iunie 7, 2011
Industrial new orders were up 16.7% YOY in April.
Industrial new orders advanced due to increases in all industrial groups: intermediate goods industry (+15.1%), capital goods industry (+22.2%), durable goods industry (+9.8%) and household goods industry (+0.1%). On monthly basis, new orders in industry declined by 5.1% as durable goods [...] >> mai mult >>
iunie 7, 2011
NBR: Yields on Romania's 6-month treasuries drop to 6.6%.
According to the National Bank of Romania, the Treasury issued RON 1.2bn in 12-month treasuries at an average yield of 6.61%, significantly below the 6.89% at the latest issue of the same maturity on May 9. (Source: National Bank of Romania) [...] >> mai mult >>
iunie 7, 2011
SIF Banat Crisana (SIF1) announced yesterday it will start paying 2010 dividends on 21st of June.
SIF Banat Crisana (SIF1) announced yesterday it will start paying 2010 dividends on 21st of June. (Source: SIF Banat Crisana) [...] >> mai mult >>
iunie 7, 2011
SSIF Broker Cluj (BRK RO) continued the buy-back program
SSIF Broker Cluj (BRK RO) continued the buy-back program and acquired 270,500 shares during May 31st – June 3rd, at an average price ranging between 0.2593-0.2616RON/share, in total worth of about RON 0.07m. (Source: SSIF Broker Cluj) >> mai mult >>
iunie 6, 2011
Fitch: Adopting EUR in 2015, an optimistic target, more reforms needed.
Douglas Renwick, director within the Fitch Group, stated that adopting the EUR in 2015 is an optimistic target for Romania considering that some important structural deficiencies will remain and more reforms are necessary. In what concerns the rating, the continuation of consolidation, the reforms [...] >> mai mult >>
iunie 6, 2011
Economy Ministry, Ariton: It will take more than one year to list Romgaz.
Minister of Economy, Ion Ariton, declared on Friday that it would take between 12 and 14 months to complete all procedures of listing the Romgaz Medias shares on the Bucharest Stock Exchange. Related to Petrom (SNP RO), Ariton [...] >> mai mult >>
iunie 6, 2011
Foreign investors own a 32.52% stake in FP RO as Romanian shareholders stake increased from 32.18% in April to 42.23% at the end of May. The dissolution of the voting rights restrictions lowers the discount applied to our target price from 30% to 20% and triggers and upwards revision to [...] >> mai mult >>
iunie 6, 2011
SIF Moldova (SIF2 RO) challenges Erste (EBS RO) in court: either list BCR or pay dividends.
SIF2, which holds 6% in the largest Romanian bank BCR, challenged in court the lender’s shareholders decision to not pay dividends from the 2010 profit as the bank is required to pay dividends until the bank's listing, according to the BCR privatization contract and to its articles of [...] >> mai mult >>
iunie 3, 2011
NSI: Investments in Q1’11 fell by 2.9% YOY.
According to data published by NSI, in the first three months the number of new constructions fell by 6.1% YOY as equipment declined by 2% YOY. Compared to Q1’10, new constructions weight in total investments declined by 0.3% percentage points, as equipments fell by 0.2% percentage points. [...] >> mai mult >>
iunie 3, 2011
NSI: Romania's January industrial PPI flat MoM, up 9.6% YoY.
According to the National Statistics Institute, Romania's April producer price index for the industrial sector grew YoY by 9.6% declining from a 11% YoY growth in March. April’s evolution was backed by the 11.7% YOY increase in energy goods prices (up 1.1% MoM), by the 12.3% increase in [...] >> mai mult >>
iunie 3, 2011
Fitch: Romania has the lowest rate of financial intermediation in the region.
According to a report issued by the rating agency Fitch, Romania has the lowest rate of financial intermediation in 12 countries in Central and Eastern Europe (CEE), with a percentage of gross loans to 40% in Gross Domestic Product (GDP) last year. Deposit weight in GDP in Romania is the lowest in [...] >> mai mult >>
iunie 3, 2011
Romanian PM, Boc: Romania jobless rate fell to 4.97% in May.
Romanian unemployment rate fell to 4.97% in May, down 0.44 percentage points compared to the previous month, and the number of unemployed people reached 453,067, Prime Minister Emil Boc told a news conference Thursday. (Source: ZF.ro) [...] >> mai mult >>
iunie 3, 2011
The Constitutional Court has postponed the rulling on SIFs threshold to June 16th.
The Constitutional Court has postponed to 16th of June the decision over the unconstitutionality of an article from the capital market law, which limits holdings in SIFs to 1% of the share capital. The trial was initiated by SIF Transilvania (SIF3), as the Commission did not amend the change in [...] >> mai mult >>
iunie 3, 2011
Fondul Proprietatea (FP RO) lost the lawsuit against Romgaz regarding the RON 400m donation.
Fondul Proprietatea (FP RO), minority shareholder in Romgaz Medias, lost the appeal against the company regarding the donation of RON 400m paid to the budget, courts decision is final and irrevocable. The Ministry of Economy, holding a 85% stake in Romgaz, decided in the shareholders meeting on 30th [...] >> mai mult >>
iunie 2, 2011
NSI: building permits, down 6.8% YOY in the first four months.
According to data published by NSI, in the first four months the number of building permits issued dropped 6.8% over the same period of 2010, while in April the number of building permits issued was 6.8% down MoM and by 14.7% YOY. (Source: National Statistics Institute) [...] >> mai mult >>
iunie 2, 2011
The foreign currency reserves of NBR stood in May at EUR32.707bn from EUR32.073bn in April.
The foreign currency reserves of the National Bank (NBR) have increased by EUR0.634bn to EUR32.707bn at the end of May, following inflows of EUR 1.868bn representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public [...] >> mai mult >>
iunie 2, 2011
Nabucco support agreements to be signed next week, on June 8.
The Project Support Agreements (PSA) for the Nabucco Pipeline will be signed by the Nabucco Companies and the responsible Ministries of the five transit countries, Austria, Bulgaria, Hungary, Romania and Turkey on June 8, aimed at assuring protection from potential discriminatory [...] >> mai mult >>
iunie 1, 2011
The ministry will auction RON 1.7bn worth of benchmark T-notes next month, an auction of three-year Treasury notes worth RON 500m in par value is scheduled for June 9, an auction of five-year T-notes worth RON 600m will be held on June 16 and an auction of 10-year T-notes [...] >> mai mult >>
iunie 1, 2011
State’s stake in Fondul Proprietatea (FP RO) drops below 33% to 24.5%.
According to media, Romania's state participation in FP fell by 10.1% to 24.5% last week, therefore the state would loose the right to block certain decisions of the fund’s management and would trigger the dissolution of the current restrictions over the voting rights. The dissolution of the [...] >> mai mult >>
iunie 1, 2011
Romanian High Court of Justice and Cassation rejected the second appeal filed by Fondul Proprietatea (FP RO) against Electromecanica Ploiesti requesting to register in its shareholders registry the ownership of 1,002,301 shares by FP, valued at RON21.43m, according to Finevex report. (Source: [...] >> mai mult >>
iunie 1, 2011
Fondul Proprietatea (FP RO) continued the buy-back program.
Fondul Proprietatea (FP RO) continued the buy-back program and acquired 26.23 million shares during 23rd-27th of May, at an average price ranging between 0.4877-0.5018RON/share, in total worth of about RON 12.88m. (Source: Fondul Proprietatea) [...] >> mai mult >>
iunie 1, 2011
Erste Group (EBS RO) increased its share count by 289,663 new shares after a new issue under the bank’s Employee Share Ownership Programme on 26th of May. (Source: Erste Group Bank AG) [...] >> mai mult >>
mai 31, 2011
OTE decided not to acquire the remaining stake in Romtelecom, owned by the state.
According to Communication Minister Valerian Vreme, the Greek telecom company OTE which owns a 54% stake in Romtelecom, has decided not to acquire the 46% remaining stake owned by the state, on adverse economic circumstances, and diminishing the company's debt exposure, the best option for [...] >> mai mult >>
mai 31, 2011
Armax Gaz (ARAX RO) to start buyback plan for a 10% stake, in value of RON12.2m.
Oil and gas equipment producer Armax Gaz approved a buy-back plan for 61.4m shares (a 10% stake) and a period of 18 months, in order to distribute them to the directors, managers and employees. The share price will vary between RON0.1 and RON0.2, while the total value of the buy-back plan will reach [...] >> mai mult >>
mai 31, 2011
Electromagnetica (ELMA RO) finishes work on a micro hydropower plant, after investing RON19m.
Electric equipment producer Electromagnetica continued its investments in the hydropower sector, and announced the commissioning of a RON19m micro hydropower plant, out of which RON7.8m are non-refundable EU funds. (Source: IntelliNews, Electromagnetica) [...] >> mai mult >>
mai 30, 2011
World Bank approved EUR500m social assistance system reforms project for Romania.
According to the WB, its Board of Executive Directors approved a EUR500m project for social assistance system reforms in Romania, aiming at reducing the fiscal cost of social assistance and to provide stronger work incentives by reducing the duration of child benefits to one year for high-income [...] >> mai mult >>
mai 30, 2011
On Friday, the leading opposition political force in Romania (The Social Liberal Union) presented its economic plan, which continues to avoid mentioning the stock exchange privatization of state-owned companies, after it promised privatizations worth of EUR700m for 2011. (Source: ZF) [...] >> mai mult >>
mai 30, 2011
TMK-Artrom to contract a EUR40m loan for working capital and for paying back other loans.
TMK Artrom, part of TMK group, will contract a 5-year loan of EUR40m from VTB Bank for working capital and to repay its debts to companies within the group. (Source: IntelliNews) [...] >> mai mult >>
mai 27, 2011
Romania sold RON500m worth 10-year treasury bonds at an average yield of 7.45%, slightly higher than at the previous auction. (Source: ZF.ro) [...] >> mai mult >>
mai 27, 2011
Romania's April overdue loans hit 8.75% of all credits.
According to a report issued by the Central Bank, the stock of overdue payment on bank loans increased by 63% YOY and hit RON 18bn (EUR 4.43bn) at the end of April. The share of overdue payments reached 8.75% of the total stock of bank loans, up from 5.5% one year earlier. Overall, the annual rise [...] >> mai mult >>
mai 27, 2011
Romanian Oltchim (OLT RO) bids for OMV Petrom’s (SNP RO) Arpechim refinery.
According to a statement issued by Oltchim, the company made an offer to buy OMV Petrom’s oil refinery Arpechim, currently under decommissioning. Oltchim proposed a lease on the refinery until the deal is completed, most likely by the end of this year. OMV Petrom gave no official answer to the [...] >> mai mult >>
mai 27, 2011
German PCC SE acquired on Wednesday 6.5 million shares in Oltchim (OLT RO) worth RON 5.9m (0.9077RON/share), representing a further 1.9% stake, and raised its holding to 15.7%. (Source: Oltchim)
[...] >> mai mult >>
mai 27, 2011
The listing of the South African investment fund NEPI on the Bucharest Stock Exchange was set for 7th of June. (Source: Wall-Street.ro) [...] >> mai mult >>
mai 26, 2011
Romania's consolidated budget deficit fell to 0.8% of the GDP in the first four months.
According to the Finance Ministry, Romania had a consolidated budget deficit of RON 4.4bn YTD in April, equivalent to 0.8% of the gross domestic product projected for the year, while in the four months of 2010 the country had a consolidated budget deficit equivalent to 2.4% of GDP. [...] >> mai mult >>
mai 26, 2011
Romania's April jobless rate falls to 5.41%.
According to the government's employment agency, ANOFM, Romania's April unemployment rate fell to 5.41% from 5.92% a month earlier, while in April 2010 unemployment stood at 8.07%. (Source: NewsIn.ro) [...] >> mai mult >>
mai 26, 2011
Capital Economics: Romanian economy to grow by 3% in 2011 and by 2.5% in 2012.
According to Capital Economics, a British research group, Romania's economy will grow by 3% this year compared to a previous forecast of 1%, followed in 2012 by a 2.5% advance. The recovery will be fueled by private [...] >> mai mult >>
mai 26, 2011
Non-government loans up 2.1% YOY, up 0.3% MOM in April.
According to the Central Bank’s press release, the non-government loans granted by credit institutions increased 2.1% YOY in April, to RON 204.62bn on the back of a 3.6% YOY increase in foreign currency-denominated loans expressed in RON despite the 0.1% YOY decline in RON-denominated loans, [...] >> mai mult >>
mai 25, 2011
Romania posts ninth annual increase in industrial new orders in the EU in March.
According to Eurostat data published on Tuesday, Romania recorded in March a 14.5% increase of new industrial orders against the same month of last year, while in February it posted a decline of 1.9%. (Source: NewsIn.ro) [...] >> mai mult >>
mai 25, 2011
Fondul Proprietatea (FP RO) continued the buy-back program and acquired on 19th of May 5.6 million shares at an average price of 0.5115RON/share, in total worth of RON 2.86m. (Source: Fondul Proprietatea) [...] >> mai mult >>
mai 25, 2011
Foreign investors owned a 31.03% stake in Fondul Proprietatea (FP RO) on 16th of May, the dividend registration date, while Romanian shareholders held a 31.41% stake. According to FP’s shareholding structure on 16th of May, the registration date for the dividend payment, Romanian private [...] >> mai mult >>
mai 25, 2011
Gorj Court ruled in favor of Fondul Proprietatea (FP RO) in the legal action against Complexul Energetic Turceni and suspended the resolutions adopted by shareholders on 19th of November 2010 referring to the approval of the merger for creating Electra, one of the two energy giants.(Source: Fondul [...] >> mai mult >>
mai 24, 2011
Constitutional Court called again to decide whether SIFs’ threshold is constitutional.
According to a release issued by SIF Transilvania (SIF3), the Constitutional Court has set on the 2nd of June the deadline for settlement of the unconstitutionality of an article from the capital market law which [...] >> mai mult >>
mai 24, 2011
2014 - Third deadline for listing the companies in Fondul Proprietatea’s (FP RO) portfolio.
According to a draft bill, currently in its final form to be approved by the Chamber of Deputies, the deadline by which the state should list on the stock market at least 5% stakes in companies part of FP’s portfolio, is extended to December 2014. Procedures for [...] >> mai mult >>
mai 24, 2011
Oltchim (OLT RO) to start petrochemistry operations at Arpechim by end-May, following an investment of EUR 3.8m. (Source: Mediafax.ro) [...] >> mai mult >>
mai 24, 2011
Fitch affirmed Rompetrol Group at 'B+', outlook negative.
Fitch Ratings affirmed Netherlands-based The Rompetrol Group's long-term foreign currency Issuer Default Rating (IDR) of 'B+', while removing it from Rating Watch Negative, where it was placed on September 16, 2010. The rating outlook is negative. (Source: Mediafax.ro) [...] >> mai mult >>
mai 23, 2011
ZEW: Romania, best economic outlook in Central and Eastern Europe.
According to an opinion poll conducted by the Centre for European Economic Research (ZEW), the financial analysts’ perception of Romania’s economic evolution in the next six months slightly improved in May and remained the best in Central and Eastern Europe, Mediafax informs. The index [...] >> mai mult >>
mai 23, 2011
EBRD ups Romania GDP forecast to +1.8% in 2011.
The European Bank for Reconstruction and Development revised upward on Friday its forecast for Romanian economic growth to 1.8% in 2011, from 1.1% previously, saying it expects harsh austerity measures implemented under a multilateral financial program will pay off. For 2011, EBRD expects the [...] >> mai mult >>
mai 23, 2011
Fondul Proprietatea (FP RO) increased its stake in Azomures (AZO RO) to 10.48% on Friday by acquiring a further 0.25% stake. (Source: Azomures) [...] >> mai mult >>
mai 23, 2011
The new share capital will be of RON 38.37m, divided into 7.67m shares with a face value of 5 RON/share. Management also submits to shareholders’ vote the approval in principle of the merger between the Bucharest Stock Exchange and the SIBEX - Sibiu Stock Exchange. Last month, a group of [...] >> mai mult >>
mai 23, 2011
Bucharest Stock Exchange (BVB RO) extends the trading hours by 15 minutes from 4.30 PM to 4:45 PM.
Bucharest Stock Exchange (BVB RO) extends the trading hours by 15 minutes from 4.30 PM to 4:45 PM. (Source: BSE) [...] >> mai mult >>
mai 20, 2011
New Europe Property Investment (NEPI) will be listed on the Bucharest Stock Exchange (BSE) in other international financial instruments, section A, and will have „NEP” as trading symbol. The listing will be a technical one, as the fund will not conduct a public offering of shares. At the [...] >> mai mult >>
mai 20, 2011
Fondul Proprietatea (FP RO) interested in Alro’s (ALR RO) secondary public offering.
According to the Fund’s representatives, they are interested in the offering, but a decision will be made only after receiving full details of the offer. Alro wants to sell a 20.96% stake through a secondary public offering and the preliminary prospectus was [...] >> mai mult >>
mai 20, 2011
SIF Oltenia (SIF5 RO) acquired a 5.6% stake in Prodplast (PPL RO) worth RON1.19m (1.25 RON/share), and increased its holding to 22.7%. (Source: Prodplast). [...] >> mai mult >>
mai 20, 2011
Hidroelectrica and Nuclearelectrica to be listed next year.
According to Tudor Serban, advisor in the Ministry of Economy, after talks with the International Monetary Fund (IMF), the Economy Ministry will sell on the stock market, most probably next year, 15% stakes in both Hidroelectrica and Nuclearelectrica. (Source: Bursa.ro) [...] >> mai mult >>
mai 19, 2011
The Central Depository resumed, on Tuesday, the transfer of Fondul Proprietatea (FP) shares out of the Ministry of Public Finance (MFP)’s share package, to the persons entitled to compensations by the National Authority for Property restitution (ANRP). ANRP issued reimbursement certificates [...] >> mai mult >>
mai 19, 2011
NSC approved the preliminary prospectus for the secondary public offering of the 9.84% stake in Petrom (SNP RO). (Source: Petrom) [...] >> mai mult >>
mai 19, 2011
The Romanian Securities Commission (NSC) has approved the preliminary prospect for the sale, at a nominal value of RON 0.5 per share. Considering the present capitalization, the stake would worth cEUR140m. Vimetco Group owns 84% of Alro, while another associated company, Conef, controls a 3.5% stake [...] >> mai mult >>
mai 19, 2011
Oltchim Rm. Valcea (OLT RO) increased its share capital by 187,525 RON up to RON 34.32m by incorporating a land representing state’s contribution. (Source: Oltchim)
[...] >> mai mult >>
mai 19, 2011
Banca Transilvania’s (TLV RO) shares part of MSCI Frontier Markets index again.
According to an announcement posted on MSCI's website, TLV shares are again part of the MSCI Frontier Markets index. The index was designed to measure equity market performance of frontier markets and consists in 26 frontier market country indices. TLV shares were in the composition of the index [...] >> mai mult >>
mai 18, 2011
FP carried out the transactions starting with 11th of May, a day before the ex-dividend date, and acquired shares in total worth of RON 3.89m. On May 11th, the Fund acquired 1.6m shares at an average price of 0.5352 RON/share, on May 12th 5.7m shares at 0.5105 RON/shares and on May 13th a number of [...] >> mai mult >>
mai 18, 2011
Ministerial sources: Fondul Proprietatea (FP RO) might be interested in acquiring a stake in Romtelecom, the largest fixed telephony operator in Romania. (Source: NewsIn.ro) [...] >> mai mult >>
mai 18, 2011
SIF Muntenia (SIF4 RO) has completed a EUR12m investment in a Pitesti hospital and entered the private hospital market. (Source: ZF.ro) [...] >> mai mult >>
mai 18, 2011
Boromir (SPCU) posted a RON 1.96m net profit in Q1’11, compared to RON 3.97m in Q1’10, on a 15.8% increase in operating expenses to RON 41.3m, while the company’s turnover rose by 22%, reaching RON 34.4m. Consequently, the EBITDA stood at RON 3.16m, down by 49% YOY. The net [...] >> mai mult >>
mai 17, 2011
Romania posts highest annual inflation in EU for 9th straight month.
According to Eurostat, Romania maintained the highest inflation in the European Union for the ninth month in a row in April at 8.4%, while the EU's average rate was up at 3.2% from 3.1% in March. Romanian consumer prices rose 0.7% in April compared with the previous month. EU's monthly inflation was [...] >> mai mult >>
mai 17, 2011
Romania's total external debt increased by 2.7% in the first quarter to EUR 93.40bn.
Accordiing to the provisional data published by the NBR, the medium and long-term debt represents 79.5% of Romania’s total external debt in January-March 2011, while the short-term debt decreased to 20.5% at EUR 19.12bn. The end-March figure includes 74.278 billion euro in long-term and [...] >> mai mult >>
mai 17, 2011
Romania's current account deficit shrinks to EUR634m in the first quarter.
According to the Central Bank data published on Monday, Romania's current account deficit narrowed by 58.9% in the first quarter due to a lower trade deficit and rising current transfers’ surplus of RON 729m vs. RON 454m in the first three months of 2010. Also, NBR’s statement shows that [...] >> mai mult >>
mai 17, 2011
Yields on Romanian 6-month treasuries ease to 6.29%.
According to a report issued by the Central bank, the Romanian Treasury sold 40% more 6-month bills than planned at yesterday’s auction with the average yield easing to 6.29%, the lowest level in the past year. The Treasury placed RON 1.124bn compared to the RON 800mn target. The average yield [...] >> mai mult >>
mai 17, 2011
Biofarm (BIO RO) announced yesterday it will pay 2010 dividends between 15th of July – 18th of October 2011. (Source: Biofarm) [...] >> mai mult >>
mai 16, 2011
EC sees Romania's 2012 GDP growth at 3.7%.
According to the European’s Commission Spring 2011 European Economic Forecast, EC expects the Romanian economy to expand by 1.5% in 2011 and to rebound to a 3.7% advance in 2012. The Commission expects next year's GDP growth to exceed the natural growth of 2.5-3%, driven by a combination of [...] >> mai mult >>
mai 16, 2011
FP’s (FP RO) April NAV higher by 0.5% MoM (+7.9% YTD) at RON 16.54bn or RON 1.2004 per share.
Fondul Proprietatea’s (FP) NAV advanced in April by 0.5% against March’s NAV per share of 1.1943 RON on the back of a 4.3% increase in the value of listed shares up to RON6.75bn while the unlisted holdings advanced by a mere 0.8% to RON 9.21bn. Cash fell by 22% to RON6.4m while bank [...] >> mai mult >>
mai 16, 2011
Further more, last year’s FX loss of RON 34.4m turned into a profit of RON 0.8m on the back of significantly lower expenses. In the first quarter, FP increased its holdings in Alro (ALR), Azomures (AZO) and BRD-Groupe Societe Generale (BRD). Also, FP acquired shares in Erste Group [...] >> mai mult >>
mai 16, 2011
Total revenues stood at RON 47157.6m, up 4% against the first quarter of 2010 on penalties cashed (Termoelectrica and Interagro) and higher transit revenues following RON weakening vs. EUR and USD in the first quarter. The EBITDA stood 8% higher YOY at RON 280m while the net financial result was [...] >> mai mult >>
mai 13, 2011
NSI: Romania’s Q1 GDP up by 0.6%. According to NSI flash data, Romania's GDP increased by 0.6% against previous quarter in real terms, while versus Q110 it advanced by 0.3% YOY. (Source: ZF.ro) [...] >> mai mult >>
mai 13, 2011
Bursa: Romania's regulator to assess gas, electricity price liberalization impact.
According to Bursa daily, the Romanian energy market regulator will launch in several days an auction to select a consultant for a detailed analysis of the impact of natural gas and electricity price liberalisation. The government has reportedly pledged to liberalise the non-residential segment of [...] >> mai mult >>
mai 13, 2011
According to Bursa daily, government sources stated that although the procedure of conversion of the reimbursement certificates into FP shares was resumed on 2nd of May, the Government has recently discussed the issue of imposing a term not exceeding 60 working days (starting with 2nd of May - the [...] >> mai mult >>
mai 13, 2011
SIF Oltenia (SIF5 RO) has increased its stake in Biofarm (BIO RO) to 25% acquiring c3 million shares in the last trading sessions. (Source: Biofarm) [...] >> mai mult >>
mai 13, 2011
The company’s turnover rose by 20% YOY to RON 45m vs. RON 37.4m in the first quarter of 2010. Impacted by the negative operating profitability due to increasing expenses, Dafora (DAFR) posted the EBITDA at RON 4.9m, halved YOY from RON 8.3m, while depreciation rose by 16% YOY at RON 6.5m. We [...] >> mai mult >>
mai 12, 2011
Fondul Proprietatea (FP) to invest on the New York Stock Exchange market.
Fondul Proprietatea has received the approval from the National Securities Commission to trade on the New York Stock Exchange market, after investing RON 265m (EUR 63m) on the Austrian Stock Exchange Market in March. (Source: ZF) [...] >> mai mult >>
mai 12, 2011
Azomures (AZO): Q1’11 net profit doubled YOY.
Chemical fertilizer producer Azomures (AZO) posted a RON 44m net profit in Q1’11, compared to RON 22.6m in Q1’10, as the company’s turnover surged 43.6%, reaching RON 408.3m. (Source: ZF, Azomures) [...] >> mai mult >>
mai 12, 2011
SIF Oltenia (SIF5) acquired 1m of Banca Transilvania’s shares, increasing its stake to 5%.
SIF Oltenia has increased its stake in Banca Transilvania (TLV) to 5% by acquiring 1 m shares in the last trading sessions, becoming the third main shareholder, after BERD (14.6%) and Bank of Cyprus (9.6%). (Source: ZF) [...] >> mai mult >>
mai 12, 2011
Romania’s exports continue to rise in Q1’11.
According to the National Statistics Institute, exports to countries outside the European Union rose by 51.6% YOY, exceeding the growth registered by exports to countries inside the European Union of 35.2%. (Source: Agerpres, INS) [...] >> mai mult >>
mai 11, 2011
NSI: Romania’s April CPI rose to 8.3% YOY.
Romania's consumer price index increased by 8.3% YOY in April after an 8% YOY annual advance in March. The consumer prices increased by 0.66% MoM in April alone. The central bank adjusted its yearend annual inflation projection upward to 5.1% YOY, while the IMF warned that the monetary authority [...] >> mai mult >>
mai 11, 2011
Cegedim: Romania’s pharmaceutical market up by 0.2% YOY in Q1.
Romania's pharmaceuticals sales inched up by only 0.2% YOY to EUR 570mn in Q1, market research company Cegedim announced, concluding that this might lead to quite a tight market this year. The sales to hospitals decreased by 6.4% YOY to EUR 58mn, suffering from the lower public healthcare budget. [...] >> mai mult >>
mai 11, 2011
The net financial result stood negative at RON 181m vs. a positive RON 14m in Q1’10 due to FX losses on RON appreciation against the USD. E&P segment activity was supported by higher pricing for oil (+36% YOY) and NGL, while production rose by 1% YOY to 16.78 mboe, offsetting the increase [...] >> mai mult >>
mai 10, 2011
Sales landed at RON757.5m, up 8% YOY following higher transported volumes, leading to a 2.85x higher operating profitability of RON 150.6m as the EBITDA landed at RON 224.1m, almost double YOY, on stronger margins (30% vs. 17% in Q1’10). Depreciation rose by 13% YOY to RON 73.6m. The net [...] >> mai mult >>
mai 10, 2011
According to a National Bank of Romania’s press release, the EC have evaluated at technical level that Romania has met the conditions for the disbursement of the final instalment of EUR 150m, out of a total of EUR 5bn. According to recent macroeconomic developments, the economy’s [...] >> mai mult >>
mai 10, 2011
Romgaz: Q1’11 net profit of RON 298.7m, up 46.7% YOY.
Although state-owned natural gas producer Romgaz production and sales fell in the first quarter of 2011 compared to the same period of last year, its Q1’11 net profit surged 46.7% YOY, to RON 298.7m (EUR 70.7m), on the back of higher gas prices on the local market according to Romgaz general [...] >> mai mult >>
mai 9, 2011
NSI: Constructions volume fell by 1.8% MoM, down 1.5% YOY.
Constructions volume fell by 1.5% YOY in March with residential and non-residential buildings down 30.7% and 1.2%, respectively (in seasonally adjusted series). Capital repairs were up 9.4% as new constructions declined by 3.5% YOY and maintenance rose by 0.1% YOY. Versus February both residential [...] >> mai mult >>
mai 9, 2011
Mediafax: Romanian Government won't privatize Tarom – Sources.
According to sources cited by Mediafax, the Romanian Government states in the new letter of intent to the IMF that its goal to privatize the chemical plant Oltchim (OLT RO) and the energy complexes in Turceni, Rovinari and Craiova, while in case of Tarom it will seek a strategic investor for Tarom [...] >> mai mult >>
mai 9, 2011
Traian Basescu: Complete liberalization of Romanian energy, gas markets to wait until 2015.
Romanian President Traian Basescu said Saturday, after a meeting with the International Monetary Fund delegation, that the deregulation of gas and electricity prices for households should be put on hold until 2015, when Romania hopes to adopt the euro. The gas and electricity markets should be [...] >> mai mult >>
mai 9, 2011
FP (FP RO) acquired Azomures (AZO RO) shares worth RON8.5m and increased its stake up to 10.23%.
FP (FP RO) acquired Azomures (AZO RO) shares worth RON8.5m and increased its stake up to 10.23%. (Source: Azomures) [...] >> mai mult >>
mai 9, 2011
Each shareholder would receive for each 100 shares held a number of 17 new bonus shares at a face value of 0.25RON/share. Registration date to participate in the meeting is June 10th. (Source: Broker Cluj) [...] >> mai mult >>
mai 9, 2011
According to the first quarter results of SIF Banat Crisana, total revenues stood at RON18.2m, almost flat versus the RON18.6m recorded in Q1’10, while total expenses stood 36.6% higher YOY at RON 17.9m. According to SIF's financial report, the faster increase in expenditure was due to the [...] >> mai mult >>
mai 6, 2011
NSI: Industrial orders and turnover, slightly up in Q1.
Industrial turnover increased by 24.3% YOY in the first quarter of the year, with the mining industry turnover only +0.2%, intermediary goods rose by 36.7%, capital goods by 31.2%, as energy industry advanced by 23.2%,durables were up 9.5% and consumer goods +4.5%. New i9ndustrial orders increased [...] >> mai mult >>
mai 6, 2011
Romania’s Central Bank raises 2011, 2012 inflation forecasts.
NBR announced on Thursday it raised its end-year inflation forecasts for 2011 and 2012 to 5.1% and 3.6%, respectively, to reflect pressure from rising food and oil prices. Previously, NBR has projected 3.6% inflation at the end of this year and 3.2% at the end of next year. The latest end-2011 [...] >> mai mult >>
mai 6, 2011
According to sources close to the consortium that will mediate the sell of the 9.84% stake in OMV Petrom (SNP), it is scheduled to take place in July if market conditions are favorable. Otherwise, the offer could be postponed until September. (Source: EconomicTimes.ro) [...] >> mai mult >>
mai 6, 2011
S&P reconfirms Transgaz (TGN RO) ratings, with stable outlook.
S&P confirmed yesterday the ratings of Transgaz (TGN) at BB+ with a stable outlook for long-term loans in foreign currency and BBB- with a stable outlook for long-term loans in Romanian currency, as it expects the company to maintain a robust financial situation. The agency based its [...] >> mai mult >>
mai 6, 2011
According to FP’s shareholding structure at the end of April published by the Central Depositary, Romanian private individuals’ stake declined from 28.28% to 26.11%, while foreign private individuals holding fell from 8.66% to 8.53%, Romanian institutional shareholders hold 6.07% vs. [...] >> mai mult >>
mai 6, 2011
No reimbursement certificates have been converted this week into FP (FP RO) shares.
Theoretically, starting with 2nd of May, the National Authority for Property Restitution (ANRP) should have resumed the process of converting the reimbursement certificates into FP (FP RO) shares, however, no conversions were made this week despite applications for 1.5bn shares submitted until [...] >> mai mult >>
mai 5, 2011
Trade with food products, tabaco and beverages adjusted series fell by 11.1% YOY, non-food products trade fell by 3.6% YOY while retail of automotive fuel in specialized stores declined by 2.1% YOY. (Source: National Statistics Institute) [...] >> mai mult >>
mai 5, 2011
NBR: Romania issued EUR939m 3-year bond on local market.
The Romanian Treasury issued a 3-year euro-denominated bond of EUR939m on the local market at an average yield of 4.89%. The issue exceeded the government’s target volume of EUR600m, but the yield also increased slightly from 4.8% in the previous similar issue. Romania’s Treasury said it [...] >> mai mult >>
mai 5, 2011
The EBITDA landed at RON6.1m against RON4.2m in the first quarter of 2010 on stronger margins (20% vs. 14% in 2010), while depreciation advanced by 19% YOY to RON1.68m. (Source: Aerostar) [...] >> mai mult >>
mai 5, 2011
The EBITDA turned positive at RON26.4m versus a negative RON29m last year supported by the reduced operating loss and by a 19% YOY increase in depreciation to RON30m. The net financial result fell by 28% YOY from RON1.6m to RON1.2m. (Source: Oltchim) [...] >> mai mult >>
mai 4, 2011
The decision aims to preserve the prospects for resuming disinflation despite the recent inflationary shocks. (Source: NBR.ro) [...] >> mai mult >>
mai 4, 2011
NSI: Romania's March industrial PPI rises 1.1% MoM, up 11% YoY.
According to the National Statistics Institute, Romania's March producer price index for the industrial sector grew YoY by 11% advancing from a 10.9% YoY growth in February. March’s evolution was backed by the 13.3% YOY increase in the manufacturing sector (up 1.4% MOM), and by the 8.7% [...] >> mai mult >>
mai 4, 2011
Oxford Economics adjusted upward its estimates on Romania's economic growth this year from 0.1% to 1.2% mainly due to exports and industry, supported by some encouraging signs in other sectors of the economy. (Source: Mediafax.ro) [...] >> mai mult >>
mai 4, 2011
GfK: Romanias’ Q1 confidence index improves marginally.
The public confidence index, measured by GfK for the EC through its Consumer Confidence Barometer, remained the lowest in Romania despite the marginal improvement to minus 46% in Q1 from minus 48% one year earlier. The average index, which measures the balance of positive vs. negative expectations, [...] >> mai mult >>
mai 4, 2011
IMS: Romania's Q1 pharmaceutical market up 5.6% YOY.
According to market researcher IMS Health, Romania's pharmaceutical market expanded by 5.6% YOY in Q1 to EUR 637mn in terms of distribution prices, while in terms of local currency, sales increased by 8.3% YOY to RON 2.7bn versus a much stronger 17.3% YOY growth rate in Q1 2010. Sales through [...] >> mai mult >>
mai 4, 2011
Zentiva (SCD RO) management approved yesterday 2011 annual investment plan worth EUR4.7m.
Zentiva (SCD RO) management approved yesterday 2011 annual investment plan worth EUR4.7m. (Source: Zentiva) [...] >> mai mult >>
mai 3, 2011
According to the first quarter results of SIF Transilvania, total revenues stood at RON58.9m, significantly higher to the RON4.3m recorded in Q1’10, while total expenses stood 3.9x higher YOY at RON 30.68m. The net asset at the end of March stood at RON1.5bn, down 13% YOY. SIF3 was active on [...] >> mai mult >>
mai 3, 2011
The increase in results was supported by increasing traffic in the port of Constanta, up against the same period last year by 36% in terms of volume. Total revenues stood at RON14.8m, up by 43.6% YOY, while total expenses rose stood 23% higher YOY at RON 12.38m. (Source: [...] >> mai mult >>
mai 3, 2011
Albalact Oiejdea (ALBZ RO): Q1’11 turnover up by 30% YOY from RON64.4m to RON85.2m.
Sales advanced by 30% YOY as a result of the company’s strategy targeting a widening market share, strategy that implied the increase in the transport capacity by 50% through a EUR2.5m investment. Total income rose by 60.5% to RON109.5m against RON 68.1m in Q110, while net profits shrank by [...] >> mai mult >>
mai 3, 2011
The increase in the bottom line was supported by a RON3.5m decline in expenses, despite a turnover that stood RON2.7m below budgeted number. Due to a significant reduction of traffic, the management decided to reduce the working week from 5 days to 4 days, as the forecasted decline in [...] >> mai mult >>
mai 3, 2011
NII evolution was primarily supported by the 22% YOY reduction in costs of funding during the first quarter, while the interest income fell by 10% YOY on still sluggish lending activity. Core income was flat at RON708.4 as net fees & commission revenues rose by 4% up to RON159m in the first [...] >> mai mult >>
mai 2, 2011
NII evolution was primarily supported by the 9% reduction in costs of funding during the first quarter, while the interest income fell by 2% YOY on still sluggish lending activity at 5.5% YOY. Core income advanced by 5% YOY supported also by net fees & commission revenues that rose by 2% up to [...] >> mai mult >>
mai 2, 2011
Mediafax: The Romanian government decided on Friday to keep 2015 as the official deadline for euro adoption. (Source: Mediafax.ro) [...] >> mai mult >>
mai 2, 2011
Transgaz recorded last year a net profit of RON376m and should distribute dividends worth RON338.7m, out of which the State would receive dividends worth RON249m, while FP (FP) would get RON50.8m. The Ministry of Economy explained its decision referring to a shortage of funding and that Transgaz [...] >> mai mult >>
mai 2, 2011
The State voted against the distribution of a special dividend in Conpet Ploiesti (COTE RO).
The Ministry of Economy, which holds a 58.7% stake in Conpet Ploiesti (COTE), approved in the 27th of April SGA the distribution of dividends amounting to RON34.8m, while rejected Franklin Templeton’s proposal regarding the distribution of special dividends amounting to RON70m from reserves. [...] >> mai mult >>
mai 2, 2011
Zentiva (SCD RO) shareholders approved the distribution of a gross dividend of 0.1376 RON/share from 2010 net profit, implying a 9.17% yield, plus a further gross dividend of 0.1622 RON/share from reserves, implying a 10.81% yield. SCD’s shareholders also approved the budget for 2011, namely a [...] >> mai mult >>
mai 2, 2011
The State will sell Cupru Min Abrud on the stock exchange in the second half of the year.
According to the National Reform Programe for 2011-2013, mentioned by Mediafax, the stake held by the State in the copper mining Cupru Min Abrud, whose privatization has been requested by the IMF, will be sold entirely on the stock market in the second half of this year. (Source: Mediafax.ro) [...] >> mai mult >>
aprilie 29, 2011
The process was halted on 11th of January, prior to the floatation of the Fund. The price of FP shares has declined from 0.61 RON/share to yesterday’s closing price of 0.579 RON/share. (Source: ANRP) [...] >> mai mult >>
aprilie 29, 2011
NSI: Managers estimate for April - June 2011 moderate increase in manufacturing, retail and services, while constructions are expected to rise against previous three months. (Source: NSI) [...] >> mai mult >>
aprilie 29, 2011
NBR: Outstanding loans increased by 10.1% in first quarter.
The amount of loans overdue by at least one day increased by 1.3% MoM in March and by 10.1% in the first quarter to RON17.8bn, representing 8.66% of total loans according to data released on Thursday by [...] >> mai mult >>
aprilie 28, 2011
Franklin Templeton Investment Management, manager of Fondul Proprietatea (FP.RO), will make a recommendation by end June regarding the possible listing on an international market, the fund's manager Greg Konieczny declared on Wednesday. (Source: Mediafax.ro) >> mai mult >>
aprilie 28, 2011
FP may redeem up to 10% of its shares until 1 March 2012. The shares may be purchased at a price between 0.2 and 1.5 RON/share. Also, the Fund can not buy more than 25% of the average daily volume of shares. (Source: EconomicTimes.ro) [...] >> mai mult >>
aprilie 28, 2011
Fondul Proprietatea (FP RO) shareholders approved on Wednesday the Finance Ministry’s request to raise the dividend to 0.03141 RON/share. (Source: Fondul Proprietatea) >> mai mult >>
aprilie 28, 2011
Cercel Maria reduced its stake in Concefa Sibiu (COFI RO) from 14.15% to 5.69% following Tuesday’s transactions. (Source: Concefa) >> mai mult >>
aprilie 28, 2011
NII stood at EUR1295.7m in the first quarter of 2011, down 2.1% compared to the first quarter of 2010, despite a slight decline in the interest margin interest to 2.88% vs. 3.03% in Q110, as a result of minor changes in the balance sheet structure and of low interest rates. Net fee and commission [...] >> mai mult >>
aprilie 27, 2011
The shareholders are 16 funds owning a 6.95% stake in SIF1, of which voting rights corresponding to a 5.95% stake are suspended, in a pro-rata manner. The funds are among the most important investors on the BSE, such as East Capital, Broadhurst, ING, AZT Viitorul Tau, Vital Fund, BT Aegon, BT Maxim [...] >> mai mult >>
aprilie 27, 2011
OMV Petrom (SNP): OMV decided not to participate in OMV Petrom secondary public offering.
Following the decision of the Romanian State to sell a 9.84% stake (from a total of 20.6%) on the Bucharest Stock Exchange market, OMV, owner of a 51% stake in OMV Petrom announced it will not submit a bid for the available stake, due to the fact that an increase in the stake would not change the [...] >> mai mult >>
aprilie 27, 2011
SIF Moldova (SIF2): Q1’11 net profit of RON 10.47m, slightly lower compared to Q1’10.
According to the first quarter results of SIF Moldova, total revenues rose 44% YOY in Q1’11, to RON 29.6m, while expenses doubled, to RON 17.2m. (Source: SIF Moldova) [...] >> mai mult >>
aprilie 27, 2011
Concefa Sibiu (COFI): A 7.9% stake in Concefa was sold on the BSE for RON 5.85m.
Yesterday, 45m shares, representing a 7.9% share in Concefa Sibiu was sold on the BSE through two deal transactions, at a price of RON 0.13 per share, the total traded value amounting to RON 5.85m. (Source: ZF) [...] >> mai mult >>
aprilie 26, 2011
SIF2’s shareholders also approved the budget for 2011, namely a net profit of RON 69.8m, 27% lower compared to 2010 net profit, total revenues of RON 206m, 17.7% YOY higher, and total expenses of RON 123.88m, 89% higher compared to 2010. (Source: SIF Moldova) [...] >> mai mult >>
aprilie 26, 2011
Bursa de Valori Bucuresti (BVB RO): Q1’11 EBIT up 127% YOY.
According to a press release, Q1’11 BVB turnover rose 34.01% YOY, to RON 5.97m, due to a 50% increase of the daily average turnover on cash equity market, while net profit reached RON 2.2m, compared to RON 2.47m in Q1’10, as operating expenses dropped 4.7% due to 11% lower personnel [...] >> mai mult >>
aprilie 22, 2011
Romania and Bulgaria's economies turn back very hard on growing, so that recovery from the crisis lasts longer in comparison with other countries in the region said Thursday, the president of the European Bank for Reconstruction and Development (EBRD), Thomas Mirow. The bank forecasts a 1.1% growth [...] >> mai mult >>
aprilie 22, 2011
IMF expert team to carry out first review under new agreement with Romania.
An IMF expert team, led by Jeffrey Franks, will arrive in Bucharest on April 26 for the first review of the precautionary stand-by agreement with Romania, approved on March 25. The visit will last until May 10 and will focus, among others, on the payment of government’s arrears and unpaid [...] >> mai mult >>
aprilie 22, 2011
Valentin Ionescu, BSE (BVB RO): There will not be many IPOs this year, at least one.
According to Valentin Ionescu, general manager of BSE, there will not be too many IPOs this year. A new listing on the local market will be the real estate investment fund Nepi, a technical floating, given that it is already quoted on the other two markets. Ionescu also said that there is another [...] >> mai mult >>
aprilie 22, 2011
Government proposed a higher dividend from Fondul Proprietatea (FP RO).
The Romanian government, owner of 36.79% of the Property Fund, suggested the distribution of 95% of the fund's 2010 profit or RON432.7m. The suggested dividend is twice higher than the 47%, proposed by the fund’s manager, Franklin Templeton. (Source: Fondul Proprietatea) [...] >> mai mult >>
aprilie 21, 2011
Romania’s employment agency, ANOFM: Jobless rate falls to 5.92% in March (the 12th consecutive month of decline) vs. 6.58% a month earlier and 8.36% in March 2010. (Source: Mediafax.ro) [...] >> mai mult >>
aprilie 21, 2011
The Bucharest Stock Exchange (BVB RO) plans to buy several stock markets in the region.
BVB is holding talks with the shareholders of a number of very small stock markets in the region regarding acquisition and counts on a total of RON2m (EUR4.8m) for the operation, stated BVB’s General Manager Valentin Ionescu. Ionescu mentioned also that BVB could grow by merging with Sibex, by [...] >> mai mult >>
aprilie 21, 2011
Valentin Ionescu, BSE’s (BVB RO) General Manager: NEPI could be listed on BSE in early May.
According to Valentin Ionescu, South African investment fund New Europe Property Investment (NEPI) may list in early May, after initially intended to list by the end of March. NEPI’s prospectus has already been submitted for NSC’s approval. NEPI will be the first real estate investment [...] >> mai mult >>
aprilie 21, 2011
One of Franklin Templeton's investment funds acquired 5.2 million shares in OMV Petrom (SNP RO) worth RON2.2m at an average price of RON0.4186 per share. (Source: Petrom) [...] >> mai mult >>
aprilie 21, 2011
Shareholders also approved an investment in a production hall and storage of drugs worth EUR9.4m. The total investments proposed by the management this year amount to RON23.9m. (Source: Biofarm) [...] >> mai mult >>
aprilie 21, 2011
SIF Oltenia (SIF5 RO) sells the stake in Alimentara Slatina (ALRV RO) for EUR2.1m.
SIF Oltenia (SIF5) will run a public offer for sale of the majority stake of c52% in Alimentara Slatina (ALRV), company listed on Rasdaq, between 24th of April – 13th of May at a price of RON40 per share. The total bid amounts to RON8.5m (EUR2.1m). (Source: SIF Oltenia) [...] >> mai mult >>
aprilie 21, 2011
Counter Group Arad (CGC RO) requested the opening of insolvency procedures.
Counter Group was listed on BSE through an IPO in March 2008, attracting from investors RON11.8m, about EUR3m. Currently, the company market capitalization stand at RON11.4m, EUR2.78. On 19th of April, the management submitted in the Court the application for the opening insolvency procedures, [...] >> mai mult >>
aprilie 21, 2011
SIF Moldova (SIF2 RO) is suspended from trading today as shareholders meet in the Ordinary and the Extraordinary General Meeting of Shareholders while SIF Muntenia (SIF4 RO) O&E GMS will be held tomorrow. (Source: BSE) [...] >> mai mult >>
aprilie 20, 2011
WB reiterates Romania's GDP growth prospects for 2011-2012.
The World Bank EU10 report reiterates the institution's previous projections for GDP growth of 1.5% in 2011 and 4.4% in 2012. The 2011 economic expansion is much below the EU10 average of 3.1%. The country will recover in 2012, leading among the ten new EU member states, pattern largely due to the [...] >> mai mult >>
aprilie 20, 2011
Suppliers: Electricity price could double in 7-8 years.
According to the Association of Electricity Suppliers in Romania (AFEER), the price of electricity could double in 7 or 8 years’ time because of the costs of the support schemes for renewable energies and of the producers’ efforts to reduce greenhouse gas emissions. AFEER estimated the [...] >> mai mult >>
aprilie 20, 2011
Electromagnetica (ELMA RO) targets sales of EUR10m for LED lighting units by 2015.
Electromagnetica (ELMA) targets to become one of the major players on the LED lighting units market in Romania by 2015 holding a 15% market share with sales worth EUR10m. ELMA’s sales on this segment currently stand around EUR1.2m annually. (Source: ZF.ro) [...] >> mai mult >>
aprilie 19, 2011
Romania sold RON1.2bn 5-month treasuries at 6.32% average yield.
According to a central bank report, banks accepted an average yield of 6.32% at yesterday’s 5-month treasury auction and purchased 21% more bills than the target issue size, up to RON 1.21bn. The average yield thus decreased from 6.82% in the auction with the closest maturity (6 months) on [...] >> mai mult >>
aprilie 19, 2011
Prodplast (PPL RO) could buyback 10% of its shares worth up to RON2.1m.
Nord Bucharest (NORD), one of Prodplast shareholders that holds a 27.5% stake in the company, requested the introduction of a new item on 28th of April SGA agenda proposing the approval of a buyback program for a 10% stake worth RON2.1m. The proposal targets a maximum number of 1.7 million shares at [...] >> mai mult >>
aprilie 19, 2011
Iproeb (IPRU RO) signed six agreements with Enel Distributie worth EUR9m.
IPROEB Bistrita (IPRU) announced yesterday it will supply insulated cables and electrical conductors to power distributor Enel Distribution Romania through six agreements worth around EUR9m which will run for a period of one year starting with the first quarter of 2011. (Source: Iproeb) [...] >> mai mult >>
aprilie 18, 2011
ZEW poll: Romanian economy’s outlook, one of the best in CEE.
According to an opinion poll conducted by the ZEW Institute in collaboration with Erste financial group, the financial analysts’ perception of the Romanian economy’s evolution in the next six months has improved in April by 4.8 points to 18.7 points, becoming the best in [...] >> mai mult >>
aprilie 18, 2011
Economy ministry to appoint private managers at one-fourth of its companies.
The economy ministry will call tenders for the appointment of private managers at one-fourth of the companies in which it still holds majority stakes with a view to boost the companies’ results and encourage private investor. These companies are operating mostly in the energy sector, including [...] >> mai mult >>
aprilie 18, 2011
A similar decision was made in March regarding Hidroelectrica’s separation and incorporation of units into the other planned national power company Electra. Both decisions are irrevocable, but the government stated earlier in March that some extraordinary appeal procedures would be used. [...] >> mai mult >>
aprilie 18, 2011
FP’s (FP RO) March NAV higher by 2.1% MoM (+7.4% YTD) at RON 16.45bn or RON 1.1943 per share.
Fondul Proprietatea’s (FP) NAV advanced in March by 2.1% against February’s NAV per share of 1.1692 RON on the back of a 6.3% increase in the value of listed shares up to RON6.47bn while the unlisted holdings stood flat at RON 9.14bn. Cash advanced by 31% to RON8.3m as bank deposits in [...] >> mai mult >>
aprilie 18, 2011
A group of shareholders requested last week the introduction of a new item on 29th of April SGA agenda proposing the approval of the reduction of the Bucharest Stock Exchange share capital by reducing the nominal value from 10 to 5RON/share and distributing the results to shareholders as [...] >> mai mult >>
aprilie 15, 2011
National Prognoses Commission: Romania’s Q1 GDP seen turning to 1.3% YOY growth.
According to Romania’s National Prognoses Commission (CNP) estimates, the first-quarter gross domestic product grew by 1.3% YOY and by 0.5% QoQ, with all main activities which support the country’s economy, such as industry, tourism and trade, recording double-digit growth of 10%, 12% [...] >> mai mult >>
aprilie 15, 2011
S&P: Romanian Government might issue EUR6.4bn bonds in 2011.
According to an S&P report, Romania will issue EUR 6.4bn in medium and long-term bonds this year, up by 64% from 2010, referring to the central government’s debt alone, not including other public issuers or the publicly guaranteed issues. S&P underlined that Romania’s short-term [...] >> mai mult >>
aprilie 15, 2011
BRD-GSG (BRD RO) shareholders approved in the 14th of April SGA the distribution of total dividends of RON125m, or a dividend of 0.1794RON/share, implying a 1.19% dividend yield to the last closing price. Also shareholders approved the proposal for a series of bonds issues in RON or FX worth up to [...] >> mai mult >>
aprilie 15, 2011
Prefab (PREH RO) invests EUR5m in co-generation power plant.
Romanian construction materials producer Prefab will invest EUR5m in a co-generation power-heating plant near its production facility in Calarasi. The unit will deliver heat to its concrete production plant, while the electricity from the facility with an installed capacity of some 4MW will be [...] >> mai mult >>
aprilie 14, 2011
Romania's current account deficit narrowed by 94% YOY to EUR44m in the first two monthds of 2011.
According to the Central Bank data published on Wednesday, Romania's current account deficit narrowed by 94% in January-February due to a lower trade deficit and rising current transfers’ surplus of RON534m vs RON333m in the first two months of 2010. NBR’s statement shows that FDI in [...] >> mai mult >>
aprilie 14, 2011
Romania's total foreign debt decreased by c0.3% in February to EUR91.79bn.
Romania recorded at the end of February 2011 a total external debt of EUR 91.79bn while at the end of January the foreign debt stood at EUR92.06bn. Medium and long-term external debt stood at EUR72.86bn representing 79.4% of total external debt (up 1.1% YTD), while the short-term external debt [...] >> mai mult >>
aprilie 14, 2011
One of FP (FP RO) shareholder requested Fondul Proprietatea the introduction of a new item on the 27th of April SGA proposing the approval of a dividend of 0.03141 RON/share (5.26% dividend yield to last closing price), double to that proposed initially by Franklin Templeton of 0.01569RON/share. [...] >> mai mult >>
aprilie 14, 2011
Aerostar (ARS RO) shareholders approved in the 12th of April SGA the distribution of a dividend of 0.07RON/share, implying a 6.3% dividend yield to the last closing price, and the share capital increase by RON8.2m, up to RON37.48m by increasing the face value from 0.25 to 0.32 RON/share. (Source: [...] >> mai mult >>
aprilie 13, 2011
IMF experts: Romania's gross government debt will rise this year from 35.2% to 37.8% of the GDP.
According to the biannual report "Fiscal Monitor” issued by the International Monetary Fund (IMF), Romania's gross government debt will increase this year up to 37.7% of GDP, while over the next three years it will keep a constant level. Gross debt will have a slightly decreasing trend, [...] >> mai mult >>
aprilie 13, 2011
OPSPI Chief: Romania might buy refinery Arpechim, keep petrochemical plant Oltchim (OLT RO).
According to OPSPI head, Victor Vlad Cazana, Oltchim privatization is not feasible at the moment as the company has a very low market capitalization. Oltchim's sell-off should be carried out only after the conversion of AVAS debt into shares will be approved by the European Commission. Also Cazana [...] >> mai mult >>
aprilie 13, 2011
BlackRock Frontiers investment fund, among SIF Moldova’s (SIF2) shareholders.
BlackRock Frontiers reported investments at the end of March in 46 stocks over 18 markets, with a 5.2% of its total assets worth EUR100.5m exposure to Romania, one of Fund’s the top 10 markets in terms of exposure. (Source: EconomicTimes.ro) [...] >> mai mult >>
aprilie 13, 2011
A group of shareholders requested yesterday a new item on 29th of April SGA agenda proposing the approval of the reduction of the Bucharest Stock Exchange share capital by reducing the nominal value from 10 to 5RON/share and distributing the results to shareholders as extraordinary dividend. This [...] >> mai mult >>
aprilie 12, 2011
Romania's March CPI rise 0.6% MoM, accelerating to 8.01% YOY.
Food prices were up 1.17% in March MoM as non-food prices increased by a monthly 0.51% as prices of services fell 0.34% MoM. The average monthly inflation was 0.7% in March, flat from a year earlier. On yearly basis, food prices were up 9.92%, non-food prices increased by 7.41% as the price of [...] >> mai mult >>
aprilie 12, 2011
February 2011 FOB trade deficit declined by 40% YOY.
FOB-CIF February trade deficit was EUR391.5m, EUR259.5m lower than February 2010. Imports were up 20.9% YOY (in EUR terms), decelerating from a 29.4% YOY increase in January, while exports grew by 36.4% YOY (in EUR terms) in February, compared to a 47.8% YOY increase in January, as exports outside [...] >> mai mult >>
aprilie 12, 2011
According to the World Economic Outlook, the forecast for Romania’s economy this year is of 1.5% while for 2012 is of 4.4% after a GDP decline of 1.3% in 2010. Regarding inflation, the indicator will reach 6.1% this year same as in 2010 and 3.4% in 2012. Unemployment is expected to reach 6.6% [...] >> mai mult >>
aprilie 12, 2011
Ministry of Economy: If the price is below expectations, Petrom’s offer may be postponed.
The Ministry of Economy stated that if the price of the 9.84% stake in OMV Petrom (SNP) will not meet expectations, the offer may be postponed until the market will show that the successful development of this offer is appropriate. The committee to decide the selling price consists in Economy [...] >> mai mult >>
aprilie 12, 2011
Octavian Radu, owner of RTC Group, stated that he plans to start listing the companies part of the group on the Bucharest Stock Exchange. Sistec company, integrating IT and business systems, with a turnover of EUR6.6m in 2009 will be the first to be listed. By next year, Radu wants to list all [...] >> mai mult >>
aprilie 11, 2011
Romanian industrial output up 12.7% YOY in February.
After a significant expansion of 10.6% YOY in January, the industrial production index surged by 12.6% YOY in February, in seasonally and workday adjusted terms. The activity expanded in all industrial sectors, but the 15.1% YOY surge in manufacturing outperformed the 3.2% YOY increase in utilities [...] >> mai mult >>
aprilie 11, 2011
On the same day SIF Oltenia (SIF5 RO) sold the 6.5% stake it held in Oltchim. The state holds 54.79% in Oltchim and the largest minority shareholder is German PCC with a 12.15% stake. (Source: Oltchim) [...] >> mai mult >>
aprilie 11, 2011
Prime Minister Boc: Romania expects over EUR600mn for the 9.84% stake in OMV Petrom.
Prime Minister Emil Boc declared on Saturday in a broadcasted interview that Romania will get more money from the sale of a 9.84% stake in OMV Petrom (SNP) than from the company’s privatization back in 2004, adding that the state won’t sell the 9.84% for less than EUR600m. Currently, [...] >> mai mult >>
aprilie 8, 2011
Finance Ministry borrowed RON500m at an average yield of 7.29%.
The Ministry of Public Finance yesterday borrowed RON500m from banks, by selling state bonds with a three years and a half maturity period at an average yield of 7.29%, up from the 7.11% achieved in the previous sale of bonds with a similar maturity interval. The bonds will reach maturity in October [...] >> mai mult >>
aprilie 8, 2011
President of the Council Tax, Ionut Dumitru, declared on Thursday during a news conference that reducing the budget deficit to 4.4% in 2011 and 3% in 2012 is achievable, but at the same time is conditioned by keeping spending under control. (Source: [...] >> mai mult >>
aprilie 8, 2011
Romcab (MCAB RO) signed a 1 year agreement with Delphi worth EUR27m.
Romcab cable manufacturer in Targu-Mures, recently announced it has signed a contract worth EUR27m with auto parts giant Delphi Packard for the supply of electrical conductors. The contract value is more than double to Romcab’s [...] >> mai mult >>
aprilie 8, 2011
Authorities consider floating minority stakes in energy companies.
The Ministry of Economy, Commerce and Business Environment (MECMA) does not give up its plan to set up the Electra and Hidroenergetica companies, stated Alexandru Sandulescu, a director with MECMA, in a seminar on energy. According to Sandulescu, the ministry has two more variants under analysis for [...] >> mai mult >>
aprilie 7, 2011
Romania’s February industrial turnover was up 7% MoM and 26.1% up YoY.
Romanian industrial sales rose 7% MoM in February following a 7.7% rise in manufacturing industry while mining sector fell by 7.2%. On yearly basis, industrial turnover was up 26.1% as manufacturing sector was up 27.5% and mining sector recorded a 1.4% rise. (Source: National Statistics Institute) [...] >> mai mult >>
aprilie 7, 2011
Industrial new orders were up 24.5% YOY in February.
Industrial new orders advanced due to increases in all industrial groups: intermediate goods industry (+35.9%), capital goods industry (+21.3%), durable goods industry (+17.8%) and household goods industry (+8.8%). On monthly basis, new orders in industry declined by 16.1% as intermediate goods were [...] >> mai mult >>
aprilie 7, 2011
Constructions volume fell by 0.4% MoM, up 0.3% YOY.
Constructions volume slightly rose by 0.3% YOY with non-residential buildings up 10.9% as residential buildings advanced by 16.9% in seasonally adjusted series. Capital repairs were up 34.3% as new constructions rose by 1.8% YOY and maintenance fell by 18.6% YOY. Versus January both residential and [...] >> mai mult >>
aprilie 7, 2011
The European Commission made an official request to Romania, Poland and Italy to comply with EU regulations and align their regulated prices for natural gas and energy, a press release of the EC reads. According to a press release of the EC, the Commission decided to send motivated requests to the [...] >> mai mult >>
aprilie 7, 2011
According to FP’s shareholding structure at the end of March published by the Central Depositary, Romanian private individuals’ stake declined from 30.78% to 28.28%, while foreign private individuals holding fell from 8.8% to 8.66%, Romanian institutional shareholders hold 5.87% vs. [...] >> mai mult >>
aprilie 7, 2011
Fondul Proprietatea (FP), shareholder in Conpet Ploiesti (COTE), proposed for shareholders approval the distribution of further RON70m as dividends from the company reserves, aside from the RON34.8m amount proposed by Conpet management. If approved, Conpet will give a gross dividend of 4.02 [...] >> mai mult >>
aprilie 7, 2011
Bermas Suceava (BRM RO) proposes its shareholders to disburse a gross dividend of 0.065 RON/share, 18.2% higher YOY, implying a 8.1% yield to last closing price of 0.8015RON/share. (Source: Bermas) [...] >> mai mult >>
aprilie 6, 2011
The rate of overdue loans has quadrupled in the past two years, 6.9%.
According to data published yesterday by the CCR in the NBR, overdue loans rate rose to 6.91% versus 6.33% at the end of 2010 and 1.85% in February 2009. In the first two months overdue loans of more than RON20,000 granted by banks have registered an increase of RON 1.2bn, up to RON16.2bn. Compared [...] >> mai mult >>
aprilie 6, 2011
Exports to grow by 12-15% annually by 2015.
According to the statement of export development director at the economy ministry, Costin Lianu, Romanian exports will grow by an average of 12-15% annually to reach an aggregate of 50% by 2015. The sectors that will drive exports upwards will be raw materials, IT, tourism, low-carbon industry and [...] >> mai mult >>
aprilie 6, 2011
Templeton wants to list all companies in FP’s (FP RO) portfolio; hardly possible.
According to Greg Konieczny, Templeton wants to list all companies in the Fund’s portfolio, but some do not fulfill the listing criteria, while in the companies sufficiently large to list on the stock exchange the Fund does not hold the majority stake, but the State in most cases. Regarding [...] >> mai mult >>
aprilie 6, 2011
Fondul Proprietatea (FP RO) opens World Trade Center Bucharest insolvency case.
FP has opened an insolvency case against World Trade Center Bucharest, one of its portfolio companies (19.9% stake), in order to recover an unpaid receivable worth USD65.28m. The case was filed with the Bucharest Tribunal last week, with June 21 being set as the first date in court. According [...] >> mai mult >>
aprilie 6, 2011
SIF Oltenia (SIF5 RO) reported it had sold yesterday the 6.5% stake it held in Oltchim Rm. Valcea (OLT RO). (Source: Oltchim) [...] >> mai mult >>
aprilie 6, 2011
SIF Moldova (SIF2 RO) acquired almost 1 million shares in Banca Transilvania (TLV RO) during last six trading sessions at an average price of 1.4862RON/share. (Source: Wall-Street.ro) [...] >> mai mult >>
aprilie 5, 2011
Romania's February industrial PPI rises 0.8% MoM, up 10.9% YOY.
According to the National Statistics Institute, Romania's February producer price index for the industrial sector grew YOY by 10.9% advancing from a 10% YOY growth in January. February’s evolution was backed by the 12% YOY increase in energy goods prices (up 0.7% MOM), and by the 8.6% increase [...] >> mai mult >>
aprilie 5, 2011
Trade with food products, tabaco and beverages adjusted series fell by 9.6% YOY, non-food products trade fell by 2.6% YOY while retail of automotive fuel in specialized stores declined by 2.5% YOY. (Source: National Statistics Institute) >> mai mult >>
aprilie 5, 2011
Consortium led by Renaissance Capital gets highest score in Romania's Petrom (SNP RO) stake sale.
The consortium made of Russian investment bank Renaissance Capital, BT Securities, EFG Securities and Romcapital got the highest score in the bid for intermediating Romania’s 9.8% stake sale in Petrom, according to Ziarul Financiar, quoting sources within the Economy Ministry. Second ranked [...] >> mai mult >>
aprilie 5, 2011
Shareholders of Impact Developer & Contractor (IMP RO) met on Monday, 4th of April, and approved the increase of the guarantees established to secure several credit facilities granted by Piraeus Bank Romania SA through mortgage on several properties and a cash collateral deposit worth EUR0.64m. [...] >> mai mult >>
aprilie 5, 2011
Fondul Proprietatea (FP RO) increased its stake in Alro Slatina (ALR RO) from 9.93% to 10.03%.
Fondul Proprietatea (FP RO) increased its stake in Alro Slatina (ALR RO) from 9.93% to 10.03%. (Source: Alro Slatina) [...] >> mai mult >>
aprilie 5, 2011
List of companies monitored by the IMF was extended to 18 units.
The list of companies with financial and personnel policies monitored by the IMF has been extended to include nine other companies, including Tarom, Posta Romana, Complexul Energetic Turceni, Electria Serv, Electrica Furnizare Transilvania Nord, Oltchim (OLT), SNLO and two railway companies. [...] >> mai mult >>
aprilie 4, 2011
IMF: Romania’s economy to rise by 1.5% this year and by 4.5% in 2012.
According to the Country Report published on Friday by the IMF, Q4 data along with recent economic data point to a 1.5% increase of the Romanian economy this year. For 2012, the economy is expected to advance by 4-4.5% while inflation rate should be within NBR target of 3% +/- 1 percentage point. [...] >> mai mult >>
aprilie 4, 2011
Pharmaceutical market up 10% in first two months.
According to the data provided by IMS Health market research firm, the domestic drug market advanced by 10% in the first two months of this year, to RON1.67bn (EUR400m), driven upwards both by prescription and OTC drugs. Prescription drugs 9.3% increase came as a result of payments operated by [...] >> mai mult >>
aprilie 4, 2011
The foreign currency reserves of NBR stood in March at EUR32.767bn from EUR32.068bn in February.
The foreign currency reserves of the National Bank (NBR) have increased by EUR0.699bn to EUR32.767bn at the end of March, following inflows of EUR 1.72bn representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public [...] >> mai mult >>
aprilie 4, 2011
Mediafax: Chinese SGCC eyes 15% of grid operator Transelectrica (TEL RO).
According to sources cited by Mediafax, State Grid Corporation of China (SGCC) is interested in acquiring the 15% stake in state-owned power grid operator Transelectrica, which the state plans to sell in an SPO. According to the sources, the Chinese company has already submitted an offer to the [...] >> mai mult >>
aprilie 1, 2011
The main effects of this decision will be releasing extra liquidity worth EUR1-1.5bn and reducing foreign debt. BNR has not changed the level of the minimum reserve requirements ratio since Nov. 2009, when it cut the ration for foreign currency-denominated liabilities under-two-year from 30% to 25%. [...] >> mai mult >>
aprilie 1, 2011
NBR: Non-performing loans up by 40% YOY in January.
The loans with payments more than 90 days overdue increased by 40% YOY to RON34.5bn, while in EUR terms stood at 8.1bn, up 36% YOY. The stock of NPL rose by 2.3% MOM in RON and by 3% in EUR in January. As a share in the total stock of non-government credit, the NPL reached 16.6% up from 16.1% in [...] >> mai mult >>
aprilie 1, 2011
NBR: Bank provisions up by 51% YOY in January.
The total stock of bank provisions increased by 51% YOY to RON 24.1bn in January, while on monthly basis advanced by 2.3%. January provisions accounted for RON542m, representing about 0.3% of the total stock of non-government credit, while last year provisions stood at RON8.6bn, representing 4.2% of [...] >> mai mult >>
martie 31, 2011
Romania to issue up to RON15bln of government debt in Q2.
According to a statement issued by the Finance Ministry, Romania plans to issue between RON 13-15bn (EUR2.9-3.4bn) worth of government securities in the second quarter of this year. In April alone, the ministry plans to issue RON4.5bn worth of debt to re-finance public debt and cover its budget [...] >> mai mult >>
martie 31, 2011
Economic confidence index rose in March for the ninth time consecutively in Romania.
According to a monthly survey published by the European Commission (EC), economic confidence index rose for the ninth consecutive year in March, with 1.5 points from February up to 95.3 points. Improved economic expectations in Romania come amid increasing confidence in three of the five areas [...] >> mai mult >>
martie 31, 2011
Mircea Oancea, CSSPP: It is absolutely necessary to eliminate SIFs ownership threshold.
According to Mircea Oancea, chairman of the Private Pension System Supervisory Commission (CSSPP), private pension funds will focus their investments towards European markets if the local stock exchange will not succeed to provide sufficient issuers and diversification. He also stated that besides [...] >> mai mult >>
martie 31, 2011
Private pension funds hold 4% of SIFs and 3% of Banca Transilvania (TLV RO).
According to the Commission for the Supervision of Private Pension System (CSSPP), private pension funds held at the end of February shares worth RON114m in four SIFs, controlling a 4% stake in each of the four SIFs. The largest stake of 4.8% is being held in SIF Moldova, while in SIF Oltenia they [...] >> mai mult >>
martie 31, 2011
Farmaceutica Remedia (RMAH RO) proposes a higher dividend of 0.01 RON/share, up from a previous proposal of 0.006 RON/share, implying a dividend yield of 4.8% to last closing price of 0.208 RON/share. (Source: Farmaceutica Remedia) [...] >> mai mult >>
martie 31, 2011
BCR wants to increase its share capital by RON55.4m.
BCR, the largest bank in the market, plans to incorporate in its share capital the 2010 RAS net profit worth RON55.4m, thus cutting dividend. This proposal of the Supervisory Board of BCR led by Andreas Treichl, CEO of Erste Group will be submitted to shareholders approval in the SGA on 29th of [...] >> mai mult >>
martie 30, 2011
Erste: Romania's rating could be raised next year if tax reforms continue.
According to Erste, Romania's rating could be raised next year if the tax reform continues, as for some countries in Central and Eastern the ratings Europe are not aligned with the economic situation and the financial developments. [...] >> mai mult >>
martie 30, 2011
Analysts: Romanian Central Bank seen keeping key rate at 6.25% on Thursday.
According to a poll realised by the local Association of Financial and Banking Analysts (AAFBR), NBR is likely to keep its key interest rate on hold at 6.25% at its monetary policy meeting on Thursday. All of the polled analysts expect BNR to hold the key rate at the current [...] >> mai mult >>
martie 30, 2011
BSE (BVB RO) will launch next week gold futures contracts.
The Bucharest Stock Exchange (BSE) will launch early next week gold futures contracts with the asset base the price in dollars of a troy ounce of gold of 99.5% purity. Maturity will be the antepenultimate working day of [...] >> mai mult >>
martie 30, 2011
SIF Moldova (SIF2 RO) prepares for a future listing on Warsaw or Vienna Stock Exchange.
According to SIF2 vice-president, Claudiu Doros, SIF Moldova takes the first steps towards the listing on another market, targeting Warsaw or Vienna, as shareholders will discuss in April SGA a series of amendments [...] >> mai mult >>
martie 29, 2011
According to the opinions expressed in March 2011 by company managers regarding March - May 2011, they foresee a relative stability in services activity, a moderate decrease in manufacturing activity and in retail and decrease in the construction sector compared to previous three months. (Source: [...] >> mai mult >>
martie 29, 2011
Bursa de Valori Bucuresti (BVB RO) proposes its shareholders the approval in principle of the merger with Sibex-Sibiu Stock Exchange and a dividend of 0.7015RON/share (1.63% yield), 22% below our forecast on lower than forecasted bottom line following a 44% YOY drop in net financial profits. [...] >> mai mult >>
martie 29, 2011
SIF Banat Crisana (SIF1) wants to give up 10% of the portfolio companies.
According to the draft guidance to be subjected to shareholder approval, SIF1 has proposed this year a reduction especially of holdings in unlisted companies and plans to reduce exposure to financials, paper, furniture, plastics and on the other hand to strengthen its position in sectors such as [...] >> mai mult >>
martie 29, 2011
A group of SIF Muntenia (SIF4 RO) shareholders ask for a higher dividend of 0.081 RON/share, implying a dividend yield of 9.94% to last closing price of 0.815 RON/share. Considering the new proposal, total dividends amount to RON65.37m, representing a 90% payout ratio. SIF4 management initially [...] >> mai mult >>
martie 29, 2011
Alro Slatina (ALR RO) submits to shareholders approval on 29th of April a dividend of 0.223853348RON/share, implying a 5.77% yield to last closing price of 3.88RON/share, 14.5% below our forecasted dividend on 18% lower bottom line vs. our estimates. (Source: Alro)
[...] >> mai mult >>
martie 29, 2011
OIL submits to shareholders approval on 28th of April SGA a dividend proposal of 0.0029581, implying a 1.18% yield to last closing price of 0.2517 RON per share, below our expected dividend of 0.0034742 RON/share due to lower operating profitability against our forecast. Also management proposes a [...] >> mai mult >>
martie 28, 2011
Regarding Romania's banking sector, IMF stated that it has weathered the crisis well and remained well capitalized and liquid, with an average capital adequacy ratio of 14.7% and over 11% for all banks at end-2010. Bad [...] >> mai mult >>
martie 28, 2011
Deficit of 0.43% of GDP in the first two months as expenses with goods and services increased.
The deficit in January and February 2011 was 59.8% lower (down RON3.47bn YOY) as total revenues increased by 8.3% and expenses decreased by 4.4%. According to data published by the Ministry of Finance, revenues amounted to RON27.45bn (5% of GDP) in the [...] >> mai mult >>
martie 28, 2011
National Trade Register Office: Parent banks have capitalized the subsidiaries in Romania with over EUR496m in 2010, up 74% YOY. (Source: NewsIn.ro) [...] >> mai mult >>
martie 28, 2011
Rompetrol Well Services (PTR RO) proposes its shareholders in 28th of April SGA a dividend of 0.015 RON/share, implying a 4.6% yield to last closing price of 0.325 RON per share. (Source: Rompetrol Well Services) [...] >> mai mult >>
martie 25, 2011
The management also proposes the buy back of up to 14 million shares, representing a 0.95% stake, at a price ranging between the market price when the transaction is made and maximum 2RON/share, for a period of 18 months starting with the date the decision is published in the Official Gazette. [...] >> mai mult >>
martie 25, 2011
Total dividends amount to RON56.53m, implying a 90% payout ratio. SIF1 management initially proposed a 0.04RON/share dividend, which was further increased to 0.06RON/share. (Source: SIF Banat Crisana) [...] >> mai mult >>
martie 25, 2011
The dividend registration date is 16th of May. According to the brief set of IFRS data published in the SGA convening notice, FY10 IFRS results stood above our forecast with the operating profit double YOY at RON188m vs our estimates at RON87m and with a further help from a 33% lower YOY financial [...] >> mai mult >>
martie 25, 2011
OMV Petrom (SNP RO) submits to shareholders approval in 26th of April SGA meeting a dividend proposal of 0.0177RON/share (4.24% yield to last closing price), 8.4% below our expected dividend of 0.0193RON/share. (Source: OMV Petrom) [...] >> mai mult >>
martie 25, 2011
OMV Petrom (SNP RO) to permanently close Arpechim refinery.
According to a statement issued to BSE, SNP announced its decision which is in line with company’s strategy to maximize the integration value of the company and to increase efficiency. The decision was takes considering that in 2010 the refinery operated only 3 months and as the sale option [...] >> mai mult >>
martie 24, 2011
Fitch: Budgetary risks will maintain Romania's rating below the recommended level for investment.
According to Fitch Ratings, Romania has made progress in implementing reforms under the IMF agreement, but still faces risks related to the pace of budgetary consolidation, which will maintain for the time being the sovereign rating below the [...] >> mai mult >>
martie 24, 2011
Senate lowers VAT on staple foods to 5%.
The Senate rejected the President's objections on the bill and approved the introduction of a preferential 5% VAT on staple foods, instead of 24%. The Chamber of Deputies will have the decisive vote on the issue. (Source: IntelliNews) [...] >> mai mult >>
martie 24, 2011
Alro Slatina (ALR RO) to finance equipment purchase through EUR4.1m non-refundable European funds.
Aluminium producer Alro Slatina (ALR) announced it took a grant of RON17.18m in order to purchase of equipment. According to a report submitted to the Stock Exchange, the project aims to strengthen and modernize the company [...] >> mai mult >>
martie 24, 2011
SIF Muntenia (SIF4 RO) sees lower profit this year.
SIF Muntenia (SIF4) managers foresee for this year a gross profit of RON65m, 22% below last year's earnings. The company also targets a temporary reduction in the banking sector in favour of increasing investment in energy companies [...] >> mai mult >>
martie 23, 2011
Banca Transilvania (TLV RO) increased its share capital up to RON1.477bn.
According to a statement issued by the bank, TLV finalized the share capital increase procedures and increased its share capital by RON120m up to RON1.477bn, or 1,477,922,353 shares with a face value of 1RON/share. The share capital increase was approved in April 2010 SGA and was contested in court [...] >> mai mult >>
martie 23, 2011
According to the proposal to be approved by the company's shareholders at the end of April, Transgaz Medias (TGN), company controlled by the Economy Ministry, will distribute record dividends worth RON338.7m of last year's net profit, implying a gross dividend of 28.77RON/share, more than double to [...] >> mai mult >>
martie 23, 2011
Templeton Frontier Markets Fund reported a 2.06% stake in BRD (BRD RO) worth USD21.7m at end-February. (Source: ZF) [...] >> mai mult >>
martie 22, 2011
The Ministry of Finance attracted 12-month treasuries worth RON1.298bn at a 6.97% yield.
The Ministry of Finance sold on Monday 12-month Treasury bills worth EUR311m at a 6.97% yield, up from 6.92% in a similar auction on 9th of March, according to the central bank. The Ministry of Finance aims to attract RON3.9bn through government bonds in March, in order to finance the budget deficit [...] >> mai mult >>
martie 22, 2011
Romanian bank payment refusals hit 28 months low in February.
According to Central Bank data released on Monday, Romanian lenders refused to pay promissory notes, checks and notes of exchange amounting to RON533min February, the lowest level since October 2008. (Source: Mediafax.ro) [...] >> mai mult >>
martie 22, 2011
PM: Romania to keep flat tax and VAT at current level this year.
According to a statement issued by Prime Minister, Emil Boc on Monday, Romania's Government will keep the flat tax and VAT at their current level this year, and will consider making changes to these taxes only further in the future. (Source: Mediafax.ro) [...] >> mai mult >>
martie 22, 2011
Fondul Proprietatea (FP RO) invested EUR63m in Austria.
FP invested RON265m in Austria, representing 1.65% of the net assets worth RON16.11bn, being no longer exposed 100% to Romania. Also, for the first time the fund holds 2.7% of the assets in banks, worth RON434m. (Source: Fondul Proprietatea) [...] >> mai mult >>
martie 22, 2011
Transgaz (TGN RO) plans investments worth over RON400m in 2011, 30% higher YOY.
Out of this amount, RON183m target the modernization and development programme while RON230m will be allocated to pipelines rehabilitation programme. Also the company announced it wants to increase the share capital by 14%, about EUR112m, along with the 15% stake sale, in order to attract money for [...] >> mai mult >>
martie 22, 2011
SIF Oltenia (SIF5 RO) acquired a further 12% stake in Prodplast Imobiliare (PPLI) from Broadhurst Investments worth RON14.7m. Now SIF5 holds 30% in PPLI. (Source: ZF.ro) [...] >> mai mult >>
martie 21, 2011
Eurostat: Romania recorded a trade deficit of EUR9.5bn in 2010.
According to data released on Friday by the European Statistics office, Romania was ranked 20th in 2010 after the trade deficit between EU states. Romania's trade deficit was reduced by EUR400m in 2010 against 2009, while the last year, imports advanced by 20%, while exports climbed 28% YOY. During [...] >> mai mult >>
martie 21, 2011
IMF executive board to discuss stand-by agreements with Romania this week.
IMF executive board scheduled for March 25 the seventh and last review of the ongoing stand-by agreement with Romania. At the same time, the Fund will also discuss the followup agreement with the country. The follow-up agreements will be precautionary, agreed upon a credit line of EUR5bn, out of [...] >> mai mult >>
martie 21, 2011
ANOFM: Romania's February jobless rate falls to 6.58% from 6.74% in January.
ANOFM: Romania's February jobless rate falls to 6.58% from 6.74% in January. (Source: ANOFM.ro) [...] >> mai mult >>
martie 21, 2011
Erste Bank (EBS RO) decided to increase its original dividend proposal of EUR0.65 up to EUR0.7 as a result of improved profitability in 2010. (Source: Erste Bank) [...] >> mai mult >>
martie 18, 2011
9 major banks with foreign capital want to maintain their exposure to Romania.
Parent bank of nine major banks with foreign capital working in Romania reaffirmed their long-term commitment to this country in a meeting held on 16th of March in Brussels. According to a statement issued by the National Bank of [...] >> mai mult >>
martie 18, 2011
ZEW survey: Romania's economic prospects over the next six months improved.
According to a survey by ZEW Institute on countries in Central and Eastern Europe, the perception of financial analysts on the development of Romanian economy in the next six months improved in March and Romania ranked third, one [...] >> mai mult >>
martie 18, 2011
Biofarm (BIO RO) announced it intends to pay a gross dividend of RON 0.0055/share, implying a yield of 2.57% at last closing. (Source: Biofarm) [...] >> mai mult >>
martie 18, 2011
Total gross dividend would amount to nearly 0.3RON/share, representing almost 30% of last closing price of 0.991RON/share leading the total amount for dividends to RON125m, about EUR30m. (Source: Zentiva) [...] >> mai mult >>
martie 17, 2011
Transgaz (TGN) and Transelectrica (TEL) officials suggested that along with the stakes offered by the state, the two companies should also increase their share capital or sell further stakes in order to raise more money. The sale of new [...] >> mai mult >>
martie 17, 2011
Ioan Cuzman, SIF Banat-Crisana (SIF1 RO): We are very interested to invest in energy sector, where we see significant long term potential. (Source: EconomicTimes.ro) >> mai mult >>
martie 17, 2011
Fondul Proprietatea (FP RO) to weight 30% of BET-FI, 20% of BET and BET-C and 15% of BET-XT starting with the 21st of March. (Source: BSE) >> mai mult >>
martie 16, 2011
FP’s February NAV higher by 3% MoM (+5.1% YTD) at RON 16.1bn or RON 1.1692 per share.
According to the latest NAV report issued by Fondul Proprietatea (FP) yesterday, company’s NAV advanced in February by 3% against January’s NAV per share of 1.1352 RON on the back of a 16% increase in the value of listed shares up to RON6.08bn while the unlisted holdings value stood flat [...] >> mai mult >>
martie 16, 2011
SIF Banat Crisana (SIF1 RO) increased the gross dividend proposal by 50% to RON0.06/share.
SIF Banat Crisana board of directors announced it will give dividends worth RON32.9m (47.7% of 2010 profit) implying a gross dividend of RON0.06/share vs. previous proposal of RON0.04/share. The new proposal offers a 5.6% yield to last closing price of RON1.07/share. (Source: SIF Banat Crisana) [...] >> mai mult >>
martie 16, 2011
Armatura Cluj Napoca (ARM RO) convenes SGA on 27th of April (registration date 15th of April) and proposes its shareholders to reduce the share capital five times by changing the face value from 0.5 RON/share to 0.1 RON/share in order to cover losses recorded since 2006. (Source: Armatura Cluj [...] >> mai mult >>
martie 16, 2011
Farmaceutica Remedia (RMAH RO) proposes its shareholders to disburse a gross dividend of 0.006 RON/share, double YOY, implying a 2.73% yield. Management will also propose the buy-back of a maximum 3.06% stake worth RON0.65m, at a price ranging between 0.1-0.5 RON/share for a 12 months period. [...] >> mai mult >>
martie 16, 2011
Bermas Suceava (BRM RO) announced a proposed gross dividend of 0.065 RON/share, c18% higher YOY from 0.055 RON/share in 2009, implying a 8.23% yield. (Source: Bermas Suceava) [...] >> mai mult >>
martie 16, 2011
Electroarges Curtea de Arges (ELGS RO) will propose its shareholders the approval of a gross dividend of 0.1191 RON/share, at a 12.54% yield. (Source: Electroarges Curtea de Arges) [...] >> mai mult >>
martie 15, 2011
Romania current account deficit widened to EUR 4.46bn in January.
According to the data published by the central bank, Romania's current account deficit widened 29.2% to EUR 4.46bn in January from a gap of EUR 3.45bn in the same period 2010, due to a lower current transfers surplus of RON208m vs RON333m in 2010 and an increasing deficit of the incomes balance, [...] >> mai mult >>
martie 15, 2011
Romania's total foreign debt increased by 1.4% in January to EUR92.07bn.
Romania recorded at the end of January 2011 a total external debt of EUR 92.07bn while at the end of 2010 the foreign debt stood at EUR90.76bn. Medium and long-term external debt stood at EUR72.91bn representing 79.2% of total external [...] >> mai mult >>
martie 15, 2011
January 2011 FOB trade deficit declined by 61% YOY.
FOB-CIF January trade deficit was EUR186.2m, EUR286.7m lower than January 2010. Imports were up 29.4% YOY (in EUR terms), accelerating from a 24.2% YOY increase in December, while exports grew by 47.8% YOY (in EUR terms) in January, compared to a 39.3% YOY increase in December, as exports outside [...] >> mai mult >>
martie 15, 2011
According to FP’s shareholding structure at the end of February published by the Central Depositary, Romanian private individuals own a 30.78% stake and Romanian institutional shareholders hold 5.57%, while foreign private individuals hold 8.8% and foreign institutional investors own 18.06%. [...] >> mai mult >>
martie 15, 2011
The request for suspension was filed by Fondul Proprietatea (FP RO) in December 2010 and was followed by the Bucharest Court ruling in its favor and suspending the merger process. Following the latest events, Franklin Templeton reiterated its commitment and to pursue all legal measures to prohibit [...] >> mai mult >>
martie 15, 2011
BRD GSG (BRD RO) management sees flat or slightly increasing profit in 2011.
We see limited growth in core lines and remain conservative on our FY11 IFRS forecast for the moment. According to the 2011 RAS consolidated guidance draft to be submitted to shareholders approval in 14th of April SGA, BRD management expects this year a flat or a slight increase against 2010 bottom [...] >> mai mult >>
martie 14, 2011
Carbochim Cluj Napoca (CBC RO) proposes its shareholders to disburse a gross dividend of 0.31 RON/share, at a 6.46% yield. [...] >> mai mult >>
martie 14, 2011
After the first two months of this year, SIF Transilvania’s net profit was of RON24.23m, representing 36.2% of 2011 budgeted earnings, after recording in January the highest net profit among SIFs worth RON23m. Company’s management expect this year a net profit of RON68m, 1.64% [...] >> mai mult >>
martie 9, 2011
Romania’s January industrial turnover was down 11% MoM but 25.5% up YoY.
Romanian industrial sales rose 13% MoM in January despite a 11.1% decrease in manufacturing industry and a -9% drop in mining sector. On yearly basis, industrial turnover was up 25.5% as manufacturing sector was up 27.4% whilst mining sector recorded a 3.2% decline. (Source: National Statistics [...] >> mai mult >>
martie 9, 2011
Industrial new orders were up 41.1% YOY in January.
Industrial new orders advanced due to increases in all industrial groups: intermediate goods industry (+46.7%), capital goods industry (+44%), durable goods industry (+30.4%) and household goods industry (+10.2%). On monthly basis, new orders in industry rose by 13% as intermediate goods were [...] >> mai mult >>
martie 9, 2011
SIF Transilvania (SIF3 RO) targets oil, petrochemical and energy sectors for 2011.
SIF Transilvania has in 2011 an investment budget worth RON61m (EUR14.5m) and targets mainly listed oil and energy companies. According to Mihai Fercala, chairman of SIF3, the investment company is only interested in listed companies with a medium-term growth potential of two to three years, in the [...] >> mai mult >>
martie 8, 2011
Rekkers, BT (TLV RO): This year we plan to open 15 more agencies, also in rural areas.
Robert Rekkers, general manager of Banca Transilvania (TLV RO), declared on Monday that this year the bank plans to open another 15 units nationally, some in rural areas where there is a possibility to sell credits for crop establishment. BT official said that the bank has [...] >> mai mult >>
martie 8, 2011
Electromagnetica (ELMA RO) pays dividends for the first time in seven years.
ELMA intends to pay dividends for the first time in eight years and will submit this to shareholders approval on 14th of April. Electromagnetica recorded last year a net profit of RON 26.27m, down 8% YOY. Out of this, 12.1% would be distributed as dividends, worth [...] >> mai mult >>
martie 8, 2011
SIF Banat Crisana (SIF1 RO) proposes a gross dividend of RON0.04/share at a 3.6% yield.
SIF Banat Crisana board of directors proposes its shareholders a gross dividend slightly lower against 2009, at RON0.04/share vs. RON0.05/share. The gross dividend proposed offers a 3.6% yield to last closing price of RON1.11/share, while last year the gross dividend yield stood at 3.21%. (Source: [...] >> mai mult >>
martie 7, 2011
Investments in Romanian economy fell by 13.5% in 2010.
According to National Statistics Institute, investments in Romania's economy fell by 13.5% last year to RON55.68bn, while in the fourth quarter alone >> mai mult >>
martie 7, 2011
BVB indices change their constituents on 21st of March.
Starting with 21st of March Bucharest Stock Exchange will include Fondul Proprietatea (FP RO) shares in the calculation of four of the five indices, including BET-FI. Thus, BET-FI will change its composition for the first time since its launch in 2000. BET [...] >> mai mult >>
martie 7, 2011
SIF Transilvania (SIF3 RO) to disburse same dividends as last year despite 42% lower profit.
SIF Transilvania board of directors proposes its shareholders a gross dividend similar to 2008 and 2009, at RON0.03/share, from a net income of RON66.9m (EUR15.7m), the lowest in four years. The gross dividend proposed offers a 5.3% yield to last closing price of RON0.565/share, while last [...] >> mai mult >>
martie 7, 2011
Alro Slatina (ALR RO) invested over RON26m in 2010 in order to increase efficiency.
During 2010 the company had an USD8.8m investment program running in order to improve its efficiency and reduce the industrial water and gas consumption. As a result, productivity of the primary aluminum sector has increased from 89.2 tons/employee in 2008 to 126.1 tons/employee in [...] >> mai mult >>
martie 4, 2011
Romania's 2010 GDP shrinks 1.3% mainly on weak construction, services.
Romania's economy contracted shrank by a revised 1.3% last year to an estimated RON513.64bn in current prices mainly on weak performance in construction and services. The construction sector contracted by 10.7% last year and the services sector posted an annual fall of 4.0%, while the [...] >> mai mult >>
martie 4, 2011
Romanian retail trade fell in January by 5.6% YOY.
The turnover in retail trade, except motor vehicles and motorcycles, declined in January against the first month of 2010 both on unadjusted and adjusted for working day and seasonally series, by [...] >> mai mult >>
martie 3, 2011
Romania's January industrial PPI rises 1.3% MoM, up 10% YoY.
According to the National Statistics Institute, Romania's January producer price index for the industrial sector grew YoY by 10% advancing from a 9.6% YoY growth in December. January’s evolution was backed by the 12% YOY increase in energy goods prices (up 1.7% MOM), and by the 11.9% [...] >> mai mult >>
martie 3, 2011
Romania recorded in January a 8.4% increase in industrial production prices, one of the highest advance in the European Union compared to same month in 2010. Romania ranked seventh in the EU, while on average production prices rose by 6.5%. [...] >> mai mult >>
martie 3, 2011
BCR will propose its shareholders to capitalize 2010 profit.
According to the bank’s CEO, Dominic Bruynseels, BCR management will recommend its shareholders to capitalize 2010 profits same as last year. Asked about the bank's listing, Bruynseels restated that Bucharest Stock Exchange [...] >> mai mult >>
martie 2, 2011
SIF Oltenia (SIF5 RO) acquired a further 0.9% stake in Biofarm (BIO RO).
SIF Oltenia (SIF5) continued its acquisitions in Biofarm Bucuresti (BIO) after buying on Monday a further pack of 9.65 million shares representing a 0.9% stake. SIF5 paid RON 2.1m (EUR 0.5m) as transactions were realized at an average price RON 0.22/share. During the first two months of 2011, SIF [...] >> mai mult >>
martie 2, 2011
Romanian Central Bank keeps key interest rate unchanged at 6.25% in March.
Romanian Central Bank keeps key interest rate unchanged at 6.25% in March. (Source: National Bank of Romania) [...] >> mai mult >>
martie 2, 2011
The foreign currency reserves of the National Bank (NBR) have decreased by EUR0.621bn to EUR32.068bn at the end of February, following inflows of EUR 750m representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public [...] >> mai mult >>
martie 1, 2011
SIFs put pressure on Erste: Either you list BCR or we sell.
Originally scheduled for October 2009, the listing was put off until October 2011. While SIFs say the listing would create the opportunity to sell their stakes which are no longer a major source of dividends, Erste, the majority shareholder, believes a listing in the current situation of the [...] >> mai mult >>
martie 1, 2011
Prospectiuni Bucuresti (PRSN RO) reported preliminary set of results and a steep decline in operating profit of only RON3.61m against a RON 51.1m EBIT recorded last year, following a 30% decline in sales while operating expenses dropped by c13%. The bottom line was further hurt by net financial [...] >> mai mult >>
martie 1, 2011
Concefa Sibiu (COFI RO) shares will be transferred from Rasdaq to BSE Tier I and will start trading on Wednesday the 2nd of March. [...] >> mai mult >>
februarie 28, 2011
Consolidated budget sees RON819m surplus in January.
The general consolidated budget posted RON819m in surplus in January compared with a surplus of RON15m in January 2010 because of the increase in the VAT receipts and of the lower spending related to the wages of the public sector employees. General consolidated budget revenues reached RON14.6bn in [...] >> mai mult >>
februarie 28, 2011
National Bank of Romania (BNR) and the International Monetary Fund (IMF) have agreed that the state should not tax the earnings from reversal of provisions once the banks will pass from Romanian accounting standards to IFRS, in [...] >> mai mult >>
februarie 28, 2011
SIF Moldova (SIF2 RO) proposed a 50% higher dividend and a new dividend policy.
SIF Moldova (SIF2) Board of Directors proposed its shareholders dividends worth RON 46.7m, almost half the profit recorded last year and 50% more than the dividends granted for 2009. SIF2 proposed a dividend of RON 0.09/share against a RON 0.06/share dividend in 2009, [...] >> mai mult >>
februarie 28, 2011
SIF Moldova guidance foresees a profit decline of 27% and wants to reduce the exposure to banks.
SIF2 Board of Directors estimates this year a net profit of RON 69.8m (-27% YOY) and proposes to reduce the exposure to the banking sector in favor of investments in energy and utilities companies [...] >> mai mult >>
februarie 28, 2011
The five SIFs, which together hold a 30% stake in BCR's share capital, declared to seriously consider the possibility of exit from BCR five years after privatization, as the majority shareholder, the Austrian Erste group, has [...] >> mai mult >>
februarie 24, 2011
BERD sold the 5% stake it held in BRD-GSG (BRD, BRD RO) for EUR107m.
European Bank for Reconstruction and Development (EBRD) sold on Wednesday 34.8 million BRD shares, representing its entire shareholding of 5% at BRD-Groupe Societe Generale. The stake was sold through eight Deal transactions, amounting to RON 454.72m (EUR 107m). According to a BERD official, the [...] >> mai mult >>
februarie 24, 2011
OMV Petrom (SNP, SNP RO) considers paying dividends and delaying the EUR600m share capital increase.
According to the Chief Executive Officer of Petrom, Mariana Gheorghe, Romania’s largest oil company will propose it’s shareholders paying dividends from the 2010 profit, following good financial results. Mariana Gheorghe also stated that pending shareholder approval, Petrom may delay [...] >> mai mult >>
februarie 24, 2011
State: We expect the offer to sell the 9.84% stake in OMV Petrom (SNP, SNP RO) to be oversubscribed.
According to Victor Cazana, Head of Office of State Ownership and Privatization in Industry, the state is not willing to negotiate with any strategic investor for the 9.84% stake, the shares being offered for sale by tender. He also added that for 2011 the state intends to sell through BSE the 15% [...] >> mai mult >>
februarie 23, 2011
Petrom posted better FY10P net profits of RON 2,202m after a very good Q4 numbers driven by favourable crude price environment that offset the weak downstream demand and strong efficiency improvements in R&M. Q4 net profit improved significantly both YOY and QOQ, landing at RON 781m versus a [...] >> mai mult >>
februarie 23, 2011
The draft on raising SIFs threshold to 5% could be debated by the Government today.
According to the initiators of the draft of law foreseeing the raising of SIFs threshold, the Government could debate the rising from 1% to 5% today. Senator Ovidiu Marian declared that the draft had to be debated last week, but it was postponed for today. In order for the [...] >> mai mult >>
februarie 23, 2011
Romanian Economy Ministry starts Oltchim (OLT RO) sale procedures.
According to Mediafax, Romania’s Economy Ministry declared on Tuesday that procedures for selling state-run chemical producer Oltchim Rm. Valcea (OLT.RO) have started, estimating the privatization will be launched in the first half of 2012. (Source: Mediafax) [...] >> mai mult >>
februarie 23, 2011
Hidroelectrica might be listed on BVB as of next year.
According to an interview with HotNewsTV.ro of the general manager of the company, Constantin Trihenea, the option of listing the company on the Bucharest Stock Exchange (BVB) in 2012 has been taken into account in case the strategy of creating Electra and Hidroenergetica, the two energy giants, [...] >> mai mult >>
februarie 22, 2011
Ministry of Public Finance attracted RON 959m of 12-months issue at an average yield of 6.88%.
The Ministry of Public Finance sold on Monday 12-months discounted certificates of treasury worth EUR 226m, representing 64% of its issue planned at EUR 350m, although the accepted yield were slightly above previous similar issues. The average yield increased to 6.88% from 6.73% on 9th of February, [...] >> mai mult >>
februarie 22, 2011
Green light for Fondul Proprietatea (FP RO) to redeem its shares.
Since the first 20 trading days have passed for FP shares, the Fund can start the buyback program approved in last year’s SGA, which targets a 9.98% stake at prices between 0.2-1.5 RON/share until the 1st of March 2012. (Source: ZF) [...] >> mai mult >>
februarie 22, 2011
SIF Oltenia (SIF5 RO) acquired a further 2.9% stake in Argus Constanta (UARG RO).
SIF Oltenia (SIF5) increased its stake held in Argus Constanta (UARG) up to 22.56% after acquiring last week a further 2.9% pack in oil producer UARG worth RON 2.28m (EUR 0.53m). (Source: BSE) [...] >> mai mult >>
februarie 21, 2011
No dividends from banks in 2011 for SIFs.
According to Mihai Fercala, SIF Transilvania (SIF3) General Manager, SIFs do not expect this year to collect dividends from banks part of their portfolio as provisions recorded last year have significantly eroded the profits and he expects the banks to capitalize these profits. He said there was no [...] >> mai mult >>
februarie 21, 2011
Oltchim Rm. Valcea (OLT RO) slightly increased its share capital.
The Board Oltchim (OLT) approved the increased of the share capital from RON 34.302m up to a current value of RON 34.321m, after the state’s contribution consisting of a land worth of RON 15,635. Out of the 187,525 new issued shares, 156,356 are issued in state’s favor, while the rest of [...] >> mai mult >>
februarie 21, 2011
Tender reduced his stake in Prospectiuni (PRSN RO) by 2.9%.
Ovidiu Tender, businessman who controls Prospectiuni Bucuresti (PRSN), sold at the end of last week about 20.6 million shares representing a stake of c2.9% of the capital, worth RON 4.9m (EUR 1.15m). (Source: ZF) [...] >> mai mult >>
februarie 18, 2011
Gross external debt rose by 11.8% YOY in 2010.
Romania’s gross external debt rose to EUR 90.8bn in 2010, as the long-term debt increased by 10.5% YOY, while the short-term debt surged by 20.6% YOY, recovering after the strong contraction in 2009 caused by the global credit crunch. The 11.1% YOY rise in the stock of short-term debt offset [...] >> mai mult >>
februarie 18, 2011
Romanian BCR waits for better liquidity to float stock on BSE.
According to a statement released on Thursday by the executive president of the Banca Comerciala Romana, Dominic Bruynseels, Romanian largest lender, BCR, awaits for substantially improved liquidity on the Bucharest Stock Exchange before floating the stocks in order to allow a true value for the [...] >> mai mult >>
februarie 17, 2011
Top ten banks maintain a 78% market share in 2010.
Top ten local banks gained or lost market share within 1 pp margin, but overall remained constant. The five largest banks own a market share of 52.6% up from 51.3% previous year. The biggest gainers were the market leader BCR (+0.8 pp market share), Banca Transilvania (+0.4 pp) and Raiffeisen (+0.3 [...] >> mai mult >>
februarie 17, 2011
Oxford Economics revised up Romania's 2011 GDP growth to 0.1%.
Oxford Economics revised its forecast for Romania’s economic growth in 2011 from a negative 1% to a “marginal” increase of 0.1%, but warned that the main growth catalyst, the exports, represent also a vulnerability. (Source: Mediafax) [...] >> mai mult >>
februarie 16, 2011
Romanian economy declined by only 1.2% in 2010 while official estimates targeted a 2% decline.
Gross Domestic Product fell by 1.2% last year as economic contraction was lower than the official estimates of the authorities who were anticipating a reduction of 1.9 to 2%. According to preliminary estimates, Q4 GDP in 2010 was, in real terms, up 0.1% compared to third quarter 2010 (seasonally [...] >> mai mult >>
februarie 16, 2011
According to the report issued on the preliminary results, Franklin Templeton would propose this dividend for 2010 that comes up from dividend income received and interest earned in cash deposits, less expenses and taxation. (Source: Fondul Proprietatea) [...] >> mai mult >>
februarie 16, 2011
FY10 preliminary results were spot on our forecasts apart from incremental revenues being recorded from reversal of impairment and provision adjustments. Additionally, FY10P expenses were slightly higher due to new fees payable following the Fund’s registration with CNVM and the commencement [...] >> mai mult >>
februarie 16, 2011
Despite Q4 seasonally lower margins, sales growth remained strong up 25% YoY leading Q4 EBITDA up 61% YoY. On the other side, Q4 bottom line declined by 73% on expected lower revaluation gains from BIO’s stock portfolio. All in all, we maintain our FY11 forecasts at the moment, while we need [...] >> mai mult >>
februarie 16, 2011
Overall, Dafora reported lower sales than our forecasts and guidance in Q4 but on higher margins leading the EBITDA higher than all expectations. On the other side, FX revaluation gains in Q4 led FY10 bottom line higher to RON8.2m than our forecast of RON5m and lower [...] >> mai mult >>
februarie 15, 2011
Romania's January CPI rise 0.77% MoM, up 6.99% YOY.
In December, Romania's consumer price index (CPI) rose by a monthly 0.53% and increased by 7.56% year-on-year. Food prices were up 1.14% in January as non-food prices increased by a monthly 0.83% and prices of cigarettes and tobacco products advanced by 0.85%. Prices of services [...] >> mai mult >>
februarie 15, 2011
According to a ministry announcement, the Ministry of Economy has started the international selection procedure for the intermediary of the secondary public offering of shares through which it intends to sell a 9.84% stake in OMV Petrom (SNP), the largest company in Romania. The winner will be [...] >> mai mult >>
februarie 15, 2011
FP’s January NAV higher by 2% MoM at RON 15.64bn or RON 1.1352 per share.
According to the latest NAV report issued by Fondul Proprietatea (FP) today, company’s NAV advanced in January by 2% against December’s NAV per share of 1.1125 RON due to a 6.3% increase in the value of listed shares up to RON 5.24bn while the unlisted holdings value stood flat at RON [...] >> mai mult >>
februarie 14, 2011
Romania's public debt leaps by EUR 11bn in 2010.
Romania's public debt continued to rise in 2010 at a fast pace of 31.6% amid massive state borrowing and reached EUR 46bn (RON 194bn), accounting for a significant 38% of GDP. The Finance Ministry has managed to slightly reduce the budget deficit last year, but the fast rate of growth of the public [...] >> mai mult >>
februarie 14, 2011
The Romanian banking system lost RON 304m in 2010.
According to NBR data, the banking system closed last year’s balance, for the first time since 1999, with a net loss of RON 304m, compared to a cumulative net income of RON 815m in 2009, as 20 banks reported earnings while 22 credit institutions reported negative results. In 2009, 22 banks [...] >> mai mult >>
februarie 14, 2011
Fondul Proprietatea’s (FP RO) reported to BSE the shareholding structure at end of January 2011.
According to the first official reporting of ownership of the Property Fund (PF) after the listing on the Bucharest Stock Exchange, during January 2011 State’s stake was reduced from 38.88% at the end of 2010 to 36.79%, while a 20.58% stake is owned by legal [...] >> mai mult >>
februarie 14, 2011
FP (FP RO) lost a first fight with Romgaz.
According to a report sent to BSE by FP, the Court in Sibiu rejected in January the request filed by Fondul Proprietatea (FP) for annulment of the decision of the General Assembly of Shareholders of Romgaz Medias that [...] >> mai mult >>
februarie 10, 2011
Romania's 2010 trade gap narrows 4.1% to EUR 9.46bn.
According to the National Institute of Statistics, Romania's trade gap narrowed to an estimated EUR 9.46bN last year after a decline by 14.7% in December alone. Exports were up 28.1% as imports advanced 19.9% against 2009 numbers. In December FOB exports stood at EUR 3.270bn, up 39.3%YOY, while [...] >> mai mult >>
februarie 10, 2011
Concefa Sibiu (COFI RO) was admitted to trading to BSE.
The Commission for admission to trading on the Bucharest Stock Exchange (BSE) issued on Tuesday a positive opinion on the transfer to BSE of Concefa (COFI). Currently Concefa shares are traded on the XMBS segment [...] >> mai mult >>
februarie 9, 2011
IMF sees Romania’s 2012 economic growth at 4.0%-4.5%.
The International Monetary Fund forecasts that Romania’s economy will expand 4.0%-4.5% next year and affirmed its projection for a 1.5% growth in 2011helped by rising demand and strong exports. Inflation is expected to fall within the central bank’s target of 3.0%, with one percentage [...] >> mai mult >>
februarie 9, 2011
Tarom, Posta Romana and Oltchim (OLT) among the companies monitored by IMF.
IMF will extend the list of state owned companies monitored in the new agreement by including companies such as Tarom, Posta Romana, Oltchim (OLT), Societatea Nationala a Lignitului (SNLO), Electrica Transilvania Nord and will assess both losses and arrears because some of them will be taken into [...] >> mai mult >>
februarie 9, 2011
Teraplast Bistrita (TRP RO) repurchased shares worth RON 2m.
Teraplast (TRP) has repurchased 4.2 million shares during recent months, worth about RON 2m, in order to distribute them to employees and managers within the company's loyalty program. The paid average price was of 0.4767 RON/share. The company has to buy-back 300,000 shares in order to complete the [...] >> mai mult >>
februarie 9, 2011
FP filed a form for proceedings in court against E. ON Moldova Furnizare requesting annulment of the merger between E.ON Moldova and E.ON Gaz Romania and dissolution of E. ON Moldova. FP owns a stake of 12% in E.ON Moldova share capital, and after the merger of the two companies the fund would hold [...] >> mai mult >>
februarie 8, 2011
Romania's Central Bank raised end-2011 inflation forecast to 3.6%.
According to February Inflation Report issued by NBR, the Central Bank raised on Monday its end-2011 inflation forecast to 3.6% from 3.4% due to higher food and fuel prices, while for the end of 2012 forecasts an inflation rate of 3.2%. The end-year inflation forecasts for 2011 and 2012 are in line [...] >> mai mult >>
februarie 8, 2011
Romania’s December industrial turnover was up 4.9% MoM and 19.4% YoY.
Romanian industrial sales rose 4.9% MoM in December due to a 5.1% decrease in manufacturing industry and a -0.2% drop in mining sector. On yearly basis, industrial turnover was up 19.4% as manufacturing sector was up 20.4% whilst mining sector rose 1.4%. In 2010 the industrial turnover advanced by [...] >> mai mult >>
februarie 8, 2011
Industrial new orders were up 42.3% YOY in December.
Industrial new orders advanced in December 1.6% MoM due to a 6.7% increases in capital goods industry as durable goods industry fell 24.5%, household goods industry was down 6% and intermediate goods industry fell by 0.6%. Against December 2009, industrial new orders surged 42.3% due to increases in [...] >> mai mult >>
februarie 8, 2011
Armax Gaz Medias (ARAX RO) signed an agreement with Romgaz for EUR 6,4m.
Armax Gaz (ARAX) announced it signed an agreement with Romgaz for work at drying gas stations Tigmandru and Danes, worth EUR 6.4m. Romgaz is one of Armax main clients. (Source: Armax Gaz Medias) [...] >> mai mult >>
februarie 7, 2011
The new agreement with the IMF, the WB and the EC will target EUR 5bn.
President Traian Basescu declared on Sunday evening that the new agreement with the International Monetary Fund (IMF), World Bank (WB) and the European Commission (EC) regards EUR 5bn, out of which EUR 3.6bn will come from the fund while EUR 1.4bn will come from the European Commission. The [...] >> mai mult >>
februarie 7, 2011
Deutsche Bank reported a 1.02% stake in SIF Moldova (SIF2 RO).
According to a notice sent to the Bucharest Stock Exchange (BSE), Deutsche Bank controls 5.29 million SIF2 shares, accounting for a 1.02% stake in SIF Moldova share capital, above the maximum legal holding of 1%. (Source: SIF Moldova) [...] >> mai mult >>
februarie 7, 2011
Valentin Ionescu, BSE: Romgaz, unlikely to be listed on the Bourse this year.
According to a statement issued by Valentin Ionescu, Bucharest Stock Exchange (BSE) general manager, he publicly doubted Romgaz could be floated this year, as preparations for the launch of a stock offering have not started yet. Economy Ministry spokesperson did not come up with an official position [...] >> mai mult >>
februarie 7, 2011
Dafora and Hidroconstructia S.A. announced the signing of a contract with S.C. CTTA Water SA, for the execution and modernization works for the rehabilitation of the sewerage system in Alba Iulia. The agreement is worth RON 34,37m, and is supposed to run for a period of 32 months starting with [...] >> mai mult >>
februarie 3, 2011
Romania's December industrial PPI rises 1.2% MoM, up 9.6% YoY.
According to the National Statistics Institute, Romania's December producer price index for the industrial sector grew YoY by 9.6% advancing from a 8.09% YoY growth in November. December’s evolution was backed by the 13.5% YOY increase in energy goods prices (up 2.3% MOM), and by the [...] >> mai mult >>
februarie 3, 2011
BT (TLV RO) sold 8 million shares to its employees and investors.
According to a statement issued by the company to BSE, all 7.3 million shares of Banca Transilvania (TLV) remained unsubscribed in the share capital increase last year have been purchased by employees of the institution and other investors, at a price of 1.1 RON/share, below [...] >> mai mult >>
februarie 3, 2011
A 2.53% stake in Prebet (PREB RO) has been transferred on Rasdaq.
About 2.53% Prebet Aiud (PREB) was traded on Wednesday on Rasdaq. A number of 1.15 million shares worth RON 369,953 were transferred at a price ranging between 0.32-0.3569 RON/share. The closing price stood at 0.3569 RON/share, 4.97% higher. [...] >> mai mult >>
februarie 3, 2011
According to 2011 company’s guidance proposed for approval in March general meeting of shareholders, Transgaz sees total revenues this year at RON 1.25bn, 11% lower than those forecasted for 2010. Also, the company sees the profit at RON 113.9 [...] >> mai mult >>
februarie 2, 2011
The foreign currency reserves of BNR stood in January at EUR32.689bn from EUR32.432bn in December.
The foreign currency reserves of the National Bank (BNR) have increased by EUR0.257bn to EUR32.689bn at the end of January, following inflows of EUR 1,771m representing the 7th tranche from IMF and the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the [...] >> mai mult >>
februarie 2, 2011
Romanian pharmaceutical market recorded a significant decline in volume in Q4 of 2010.
According to a Cegedim study, Pharma & Hospital Report, Romanian pharmaceutical market recorded a significant decline in volume in the last quarter of 2010, indicating a problem of accessibility to treatment for some patients, following the reduction of public support for drugs. The total amount [...] >> mai mult >>
februarie 2, 2011
Ministry of Economy, Trade and Business (MECMA) issued a statement and denied any government official discussion on gas price liberalization, the idea being proposed by the International Monetary Fund (IMF). IMF representatives raised in discussions the possibility of gas price liberalization, [...] >> mai mult >>
februarie 1, 2011
Romania to issue RON 5.4bn of debt in February.
According to a statement issued by the Finance Ministry, Romania plans to issue RON 5.4bn (EUR 1.3 bn) worth of government securities in February to re-finance public debt and cover its budget deficit. It will auction RON 1.8bn worth of benchmark T-notes next month; three-year [...] >> mai mult >>
februarie 1, 2011
Tanasescu: NBR could reduce this year the RON reserve requirements.
IMF representative in Romania, Mihai Tanasescu, declared on Monday that the central bank could reduce the minimum reserve requirements for RON liabilities for domestic banks this year and also that it is possible for the reference rate to [...] >> mai mult >>
februarie 1, 2011
Banca Transilvania reported FY09 RAS preliminary net profit at RON 97.8m (+58% YOY) on higher core income (22.1% YoY vs. 30% YoY our estimations) due to a steeper fall in interest expenses (-34% YoY vs. -40% YOY our estimations) versus interest income decline of 10% (vs. -10% YoY our estimations). [...] >> mai mult >>
februarie 1, 2011
Fondul Proprietatea continues to restructure its portfolio.
Fondul Proprietatea, managed by Franklin Templeton, announced the sale at auction of the 2.75% stake held in Familial Restaurant, a HoReCa company. This is the third auction announced by FP management following the 16% stake held in Commetex and the 4.59% stake in Marlin, a financial leasing [...] >> mai mult >>
ianuarie 31, 2011
FP’s dividends will be decided on the 29th of April.
Fondul Proprietatea (FP) shareholders will approved on the 29th of April the distribution as dividends of the profit recorded in 2010. According to FP representatives, as stated in the conference call with analysts in January, the dividend policy for the following years implies that [...] >> mai mult >>
ianuarie 31, 2011
FY10P EBITDA shows a steep drop to -20.67m RON from 25,964 RON in 2009, slightly below our expectations, as revenues grew by 22% YoY to RON 1,309m, 9% above our expectations. EBITDA margin came in line with our forecast at -1.6% while depreciation was 6% higher YoY at RON 105m, in line with our [...] >> mai mult >>
ianuarie 28, 2011
Romania’s budget deficit shrinks to 6.5% of the GDP and beats target.
The budget deficit reached RON 33.3bn last year, representing 6.51% of the GDP, according to data released by the Ministry of Finance. Therefore, 2010 ended with a deficit within the 6.8% of GDP target agreed with the IMF. [...] >> mai mult >>
ianuarie 28, 2011
NBR: RON16.16bn in overdue loans at the end of December.
Individuals and companies had RON 16.16bn in past due installments, down 1.2% MoM leading to a share of overdue installments in the overall volume of loans of 7.66% in December against 7.8% in November. The balance of past due installments on loans in national currency was of RON 7.602bn in [...] >> mai mult >>
ianuarie 28, 2011
According to sources in the Ministry of Economy, cited by Mediafax, the auction in order to select the broker which will mediate the selling on the Bucharest Stock Exchange (BSE) of a stake of 9.84% of shares held by the Ministry of Economy in [...] >> mai mult >>
ianuarie 28, 2011
S&P maintains its ratings for Transgaz (TGN RO).
Standard&Poor’s affirms the “BB+” rating with stable outlook for FX loans and the “BBB-” rating with stable outlook for RON loans, due to the company’s financial profile, to the “adequate” 9M cash of about RON 150m, to its quality of unique [...] >> mai mult >>
ianuarie 27, 2011
Non-government loans up 4.7% YOY, up 0.7% MOM in December.
According to the Central Bank’s press release, the non-government loans granted by credit institutions increased 4.7% YOY in December, to RON209.29bn on the back of the 9.8% increase in foreign currency-denominated loans expressed in RON and the 3 percent decrease in RON-denominated loans, [...] >> mai mult >>
ianuarie 27, 2011
TLV (TLV RO) wants to raise RON 8.05m by selling shares to its employees.
Banca Transilvania (TLV) will sell over 7.32 million shares to its employees at a price of 1.1 RON, a price lower than the last closing price of 1.422 RON. The shares remained unsubscribed in the share capital increase conducted at the end of last year when shareholders used [...] >> mai mult >>
ianuarie 27, 2011
BVB (BVB RO) and Sibex to launch FP (FP RO) derivatives today.
Both BVB and Sibex decided to launch earlier the future contracts on Fondul Proprietatea (FP) shares and changed the release date from the 1st of February to the 27th of January. (Source: BSE, Sibex) [...] >> mai mult >>
ianuarie 26, 2011
BSE to launch FP derivatives on 1st of February.
According to the Bucharest Stock Exchange (BSE) Chairman of the Board of Directors, Stere Farmache, BSE will launch on the 1st of February futures contracts on Fondul Proprietatea (FP) shares. (Source: BSE) [...] >> mai mult >>
ianuarie 26, 2011
Mobius's next target: to bring FP’s price closer to the NAV.
According to Mark Mobius, executive chairman of Templeton Asset Management, the focus is on reduction of the difference between the stock price on the market, now of about 0.65 RON and the net asset value per unit of 1.1124 RON. If the State would give back the money plus interest from the Romgaz [...] >> mai mult >>
ianuarie 25, 2011
BERD improved the estimates on Romania's economic growth to 1% this year.
European Bank for Reconstruction and Development (EBRD) has improved its projection for Romania’s gross domestic product to a 1.1% advance this year, and also changed its estimate on the economic [...] >> mai mult >>
ianuarie 25, 2011
Ministry of Finance sold T-bonds worth RON 1bn at an average yield of 6.28%.
According to NBR data, the Ministry of Finance sold on Monday discounted treasury bills maturing in seven months worth EUR 234m at an average yield of 6.28% per year. The announced value of the auction was of RON 1bn, but the banks applied [...] >> mai mult >>
ianuarie 25, 2011
Payment of public debt peaks: in July and October - EUR 1.95bn.
In 2010 T-bonds worth RON 41bn were placed, 58% fewer than in 2009. In the first quarter of 2011, the planned borrowing could exceed RON 13bn. The Ministry of Finance will have to face this year two peaks of public debt payment. The first and highest will have to be passed in late July, worth EUR [...] >> mai mult >>
ianuarie 25, 2011
Fondul Proprietatea will start trading tomorrow.
Tomorrow Fondul Proprietatea will be listed on the Bucharest Stock Exchange to the main Tier having “FP” as stock symbol. The total number of shares issued amounts to about 17.78 billion, at a face value of 1 RON/share. For the first time on the [...] >> mai mult >>
ianuarie 25, 2011
BVB (BSE RO) and SIBEX to resume the merging process.
The main actors of the Romanian capital market, among which NSC representatives, SIFs chairmen and the managers of the two stock market operators, BVB and Sibex, met and decided to resume the process of merging. According to a notice issued by BVB, the merger aims for a consolidated market that [...] >> mai mult >>
ianuarie 25, 2011
Albalact (ALBZ RO) wants to sell its dairy farm to a Dutch company for EUR 4.7m.
According to a report issued by Albalact Oiejdea (ALBZ), the largest local dairy producer listed on BSE, its shareholders will discuss on the 23rd of February the plans to sell a dairy farm it owns to a Dutch company for EUR 4.7m. According to Raul Ciurtin, general manager of the company, Vaidei [...] >> mai mult >>
ianuarie 21, 2011
World Bank approved the second loan tranche to Romania, worth EUR 300m.
According to Romania's representative with the WB, Stefan Nanu, the institution approved on Thursday the release of the second loan for Development Policy (DPL2) for Romania, worth EUR 300m. In the financial assistance package drafted with [...] >> mai mult >>
ianuarie 21, 2011
Coface: Romania’s GDP unlike to match 2008 levels until 2013.
According to estimates of Coface ratings agency cited by Mediafax, Romanian gross domestic product per capita is bound to remain below the 2008 level until 2013 or 2014. (Source: Mediafax) (Source: Mediafax) [...] >> mai mult >>
ianuarie 21, 2011
Transelectrica (TEL RO) sees a 2% increase of the energy consumption this year.
TEL estimates 2% higher energy consumption this year, of 54.8 TWh up from 53.8 TWh in 2010. According to the general manager, Stelian Gal, the growth will be based on the advance recorded by the industry and services sectors. (Source: ZF) [...] >> mai mult >>
ianuarie 21, 2011
FP: The Government will sell assets worth EUR 1.5bn during next two years.
According to Grzegorz Konieczny, FP’s portfolio manager, Petrom’s stake sale may attract EUR 400-500m, while Transgaz and Transelectrica EUR 50m each. He also stated that Romgaz, Hidroelectrica and Nuclearelectrica could go public through initial public offerings in 2012, [...] >> mai mult >>
ianuarie 20, 2011
South African real estate investment fund NEPI will be listed on BSE.
According to Dan Weiler, executive director of Corporate Finance Investment Banking BCR, South African Investment Fund New Europe Property Investment (NEPI), owner of several real estate projects in Romania, will be listed on BSE by the end of March. NEPI will be the first real estate investment [...] >> mai mult >>
ianuarie 19, 2011
EIU: Romania's economy will recover slowly in 2011, after a 2% decline in 2010.
According to Economist Intelligence Unit (EIU) estimations, Romania will record a slow economic recovery in 2011, after a decline of 2% in 2010, and will face tough austerity measures, while opposition to these measures could [...] >> mai mult >>
ianuarie 19, 2011
SIFs profits were down 36% in 2010 while assets fell by 6.5%.
SIFs reported at the end of 2010 cumulative profits of about RON 390m (EUR 91m), down 36% against 2009 results, as they have not received dividends from BCR and received lower dividends from BRD. Furthermore, unlike 2009 [...] >> mai mult >>
ianuarie 19, 2011
Broker Cluj (BRK RO) recorded a preliminary net profit of RON 6m in 2010, up 43% YOY.
The result is lower than the RON 8m recorded in the first 11 months, as the company reevaluated at year end the assets in the portfolio and recorded a series of provisions that dragged down profits. The company had budgeted this year a profit of RON 8m. (Source: ZF) [...] >> mai mult >>
ianuarie 18, 2011
SIF Muntenia (SIF4 RO) offers RON 3.2m for a 54% stake in Transchim (TRAI).
SIF4 is preparing to launch a mandatory takeover bid for transportation company Transchim (TRAI) and offers RON 3.19m for a 54% stake. Thus, for the 1.27 million shares, SIF Muntenia wants to pay a price of [...] >> mai mult >>
ianuarie 18, 2011
FP Manager: “We expect the state’s stake to drop below 33% this year”.
State’s stake in Fondul Proprietatea could fall below 33 percent this year as the process of restitution will continue, said Greg Konieczny, FP’s portfolio manager. In December, State’s stake was of 38.88%. The [...] >> mai mult >>
ianuarie 17, 2011
Romania's "First Home" program will continue in 2011, with EUR 200m guarantee cap.
According to a statement issued by Prime Minister Emil Boc on Friday, Romania's "First Home" program, which offers loan incentives to first-time home owners, will continue in 2011 with a guarantee ceiling of at least EUR 200m. (Source: Mediafax) [...] >> mai mult >>
ianuarie 17, 2011
Former SIF Oltenia (SIF5 RO) chairman returned to company’s management.
SIF Oltenia’s Board of Directors appointed Vasile Salapa as chairman - general manager of SIF5 instead of Dinel Staicu, who was sentenced to prison in December in a fraud case. Salapa has been chairman - general manager [...] >> mai mult >>
ianuarie 17, 2011
Fondul Proprietatea recorded a profit of EUR 100m in 2010.
According to the latest NAV report issued by FP on Friday, the Fund ended 2010 with a profit of RON 456.3m, about EUR 108m. In 2009 the RON 760m profit was mainly supported by sale of stakes in former Electrica Oltenia to CEZ, while [...] >> mai mult >>
ianuarie 14, 2011
World Bank: Romanian economy up 1.5% in 2011 and +4.4% in 2012.
According to the Global Economic Prospects 2011 report, World Bank (WB) foresees that the Romanian economy will rise by 1.5% in 2011 and by 4.4% in 2012 following the restructuring measures applied. WB officials see Romania close to Bulgaria, Kazakhstan, Lithuania, Russia and Ukraine, one of the [...] >> mai mult >>
ianuarie 14, 2011
Romania current account deficit widened to EUR 5.2bn in the first eleven months.
According to the data published by the central bank, Romania's current account deficit widened 23.5% to EUR 5.17bn in January-November 2010, from a gap of EUR 4.19bn in the same period 2009, due to a lower current transfers surplus and an increasing deficit of the income balance. (Source: National [...] >> mai mult >>
ianuarie 14, 2011
Romania's total foreign debt increased by 11.7% in January-November 2010, to EUR 90.7bn.
Romania recorded at the end of November 2010 a total external debt of EUR 90.7bn up 11.7% YTD, while at the end of 2009 the foreign debt stood at EUR 81.22bn. Medium and long-term external debt stood at EUR 72.391bn representing 79.8% of total external debt (up 10% YTD), while the short-term [...] >> mai mult >>
ianuarie 14, 2011
Foreign direct investments fell by 25.6% in the first eleven months of 2010 at EUR 2.27bn.
Foreign direct investments in Romania dropped in the first eleven months of 2010 25.6% against the same period in 2009, from EUR 3.05bn down to EUR 2.27bn, the current account deficit being financed at a rate of 43.9% through direct investment of non-residents. (Source: National Bank of Romania) [...] >> mai mult >>
ianuarie 13, 2011
IMF: External debt surges to 82% of GDP, but not afraid we would not get the money back.
According to the latest IMF report on the economic situation, Romania's total foreign debt will reach this year a peak of about 82% of GDP, against 51% at the end of 2008, but the economic recovery will reduce it to manageable levels over medium term. (Source: ZF) [...] >> mai mult >>
ianuarie 13, 2011
IMF sees Romania’s 2011 private lending up 6.8% YoY to RON 222bn.
According to estimations of the International Monetary Fund, Romanian private lending is expected to rise 6.8% this year, to RON 222.18 billion, after a 4.1% growth in 2010. (Source: Mediafax) [...] >> mai mult >>
ianuarie 13, 2011
Romania’s November industrial turnover up 5.2% MoM and 18.2% YoY.
Romanian industrial sales rose 5.2% MoM in November due to a 18.4% increase in mining sector and a 4.7% advance in manufacturing. On yearly basis, industrial turnover was 18.2% higher as manufacturing sector was up 19.1% whilst mining sector rose 2.4%. (Source: National Statistics Institute) [...] >> mai mult >>
ianuarie 13, 2011
Industrial new orders were up 27.7% YOY in November.
Industrial new orders advanced due to increases in all industrial groups: intermediate goods industry (+28.9%), capital goods industry (+32.1%), durable goods industry (+30.4%) and household goods industry (+8.2%). On monthly basis, new orders in industry fell by 2.6% while in the first eleven [...] >> mai mult >>
ianuarie 13, 2011
Romania's industrial output rose 3.8% in the first eleven months of 2010.
Romania's industrial output advanced in the first eleven months due to the increases of production and supply of electricity, gas, steam and air conditioning (7.9%) and by manufacturing industry (4.6%) while mining and quarrying fell by 7.7%. In November alone, the country's industrial output rose [...] >> mai mult >>
ianuarie 12, 2011
CPI advanced to 7.96% in December.
The annual inflation rate rose in December to 7.96% amid higher prices of non-food products with 9.76%, of food prices to 6.45% and due to a 6.43% rise in prices for services, according to data published today by National Statistics Institute. (Source: National Statistics Institute) [...] >> mai mult >>
ianuarie 12, 2011
Saxo Bank: Romanian economy to rise by 1.3% this year.
According to Saxo Bank forecasts, Romania’s economy could advance by 1.3% this year after a fall of 2% in 2010, while the euro could reach 4.15-4.2 this year. The pessimistic forecast is for euro to reach 4.35-4.4 in 2011. In terms of GDP, it is expected a growth of 1.3%. Retail sales and [...] >> mai mult >>
ianuarie 12, 2011
ANRP suspended the conversion of the Reimbursement Certificates into FP shares until May.
National Authority for Property Restitution (ANRP) responsible with the indemnify individuals who lost their properties during the communist regime and whose ownership claims could not be settled in-kind, suspended the conversion of the Reimbursement Certificates into FP shares starting with the [...] >> mai mult >>
ianuarie 12, 2011
Franklin Templeton, the investment manager of Proprietatea Fund (FP), will hold on the 17th of January a presentation to FP shareholders on the upcoming listing of the Fund on the Bucharest Stock Exchange. (Source: ZF) >> mai mult >>
ianuarie 11, 2011
November 2010 FOB trade deficit rose 5.6% YOY.
FOB-CIF November trade deficit was EUR 911.3m, EUR48.1m higher than November 2009, while YTD the trade deficit FOB-CIF was EUR8.64bn, only 3.5% lower to the EUR8.95bn in the first eleven months of 2009. Imports were up 24.9% YOY (in EUR terms), accelerating from a 15.1% YOY increase in October, [...] >> mai mult >>
ianuarie 11, 2011
SIF Oltenia (SIF5 RO) acquired a 0.43% stake in Biofarm (BIO RO) on Friday.
SIF Oltenia (SIF5) was reported with the acquisition of a number of 4.76 million shares in drug manufacturer Biofarm (BIO) worth over RON 1m, at an average price of 0.22 RON/share. SIF Oltenia is the major shareholder with a stake of almost 23%, while SIF Banat-Crisana [...] >> mai mult >>
ianuarie 10, 2011
Romania to sell the minority stakes in Transelectrica, Transgaz and Romgaz in June-December.
According to Mediafax, Romanian authorities plan to sell minority stakes in key energy companies during June-December 2011, representing 15% stakes in Transelectrica (TEL), Transgaz (TGN) and Romgaz, the three most important energy companies controlled by the Ministry of Economy. Thus, new [...] >> mai mult >>
ianuarie 10, 2011
Fitch expects 2% economic growth in 2011 but warns about political risks.
Romania could record a 2% economic growth in 2011 after two years of recession, and cut its budget deficit to 4.4% of GDP, but political risks remain high, Fitch rating agency believes. (Source: ZF) [...] >> mai mult >>
ianuarie 7, 2011
IMF Board to decide on Friday on cEUR 900m loan tranche to Romania.
The International Monetary Fund (IMF) Board will discuss on Friday the report on the last evaluation of the stand-by agreement with Romania, and will decide on the release of the seventh tranche of the loan, worth about EUR 900m. (Source: NewsIn) [...] >> mai mult >>
ianuarie 7, 2011
Turnover in retail trade fell by 7.6% in November.
According to the National Institute of Statistics, the turnover in retail trade, except trade of motor vehicles and motorcycles (seasonal adjusted numbers), decreased in November by 7.6% YOY, due to lower sales of non-food items (-14.6%) and sales of food items, beverages and tobacco (-5.5%). [...] >> mai mult >>
ianuarie 7, 2011
Romanian retail recorded in October 2010 the steepest annual decline in EU.
Retail trade increased in volume by 0.8% in the European Union in October 2010 compared to same month of the previous year, while Romania has recorded the steepest decline among the member states, of 8.9%. Compared to September, Romanian retail fell by 1.3%, the fourth decline in EU, while in EU the [...] >> mai mult >>
ianuarie 7, 2011
BSE admitted Fondul Proprietatea to trading to the main Tier.
BSE management approved the admission to trading of Fondul Proprietatea shares at Tier I and the first trading day will be 25th of January, 2011. BSE management also approved the release of FP Futures contract, which will take place after the registration certificate is received from the NSC, in a [...] >> mai mult >>
ianuarie 6, 2011
NBR leaves key rate unchanged fearing inflation.
The NBR decided yesterday in its first monetary policy meeting in 2011 to leave unchanged both the key interest rate, which has remained set at 6.25% since May 2010, and the minimum reserve requirements, preferring not to send out signals for a lending revival and for a reboot of the [...] >> mai mult >>
ianuarie 6, 2011
According to an instruction draft of the National Securities Commission, Rasdaq shares which do not meet the requirements of admission on a regulated market of BSE will be traded on the alternative system of the [...] >> mai mult >>
ianuarie 6, 2011
Transgaz (TGN RO) takes a RON 75.5m loan to finance 2010 investment plan.
According to a statement issued yesterday by the company, Transgaz Medias (TGN) took a 5 years loan worth RON 75.5m in order to partly finance the 2010 investment plan. (Source: BSE) [...] >> mai mult >>
ianuarie 5, 2011
Romania's November industrial PPI rises 0.83% MoM, up 8.09% YoY.
According to the National Statistics Institute, Romania's November producer price index for the industrial sector grew by 0.83% against October while ob yearly basis it was 8.09% higher, the country's statistics board, INS, said on Tuesday. In October, PPI rose by 0.16% MoM and increased [...] >> mai mult >>
ianuarie 5, 2011
Romania 2010 Budget Deficit at 6.6% of GDP, below IMF agreed target.
Romania’s government sent a letter to the International Monetary Fund saying the country has met all requirements for a new tranche out of the EUR13 billion stand-by loan, including a budget deficit of 6.6% of the gross domestic product for 2010, below the limit imposed by IMF of 6.8% of GDP. [...] >> mai mult >>
ianuarie 5, 2011
According to a report submitted to BSE, TLV will offer its employees and managers 6 million shares at a price of 1.1 lei / share, 14% below the current price of the stock market, the 1.275 RON/share. The offer targets people who hold key positions in the bank's management structure, part of a [...] >> mai mult >>
ianuarie 4, 2011
NBR: The reference rate is 6.25% per year in January 2011.
NBR: The reference rate is 6.25% per year in January 2011. (Source: National Bank of Romania) [...] >> mai mult >>
ianuarie 4, 2011
The foreign currency reserves of the National Bank (BNR) have decreased by EUR368m to EUR32.432bn at the end of December, following inflows of EUR 821m representing the change in the minimum FX reserves of the banks and revenues from the management of the international reserves. The gold reserve [...] >> mai mult >>
ianuarie 4, 2011
According to SIF1 chairman, the company hopes to record similar results to 2010 this year, and is planning a change of strategy at portfolio level, targeting foreign markets. (Source: Bursa.ro) [...] >> mai mult >>
ianuarie 4, 2011
Albalact (ALBZ) shareholders rejected the merger with Raraul.
Shareholders of dairy producer Albalact Alba Iulia (ALBZ) rejected the final merger with dairy producer Raraul Campulung Moldovenesc, company it controls. Albalact is controlled by Peter and Raul Ciurtin, who hold a [...] >> mai mult >>
ianuarie 4, 2011
Popp sold a 4% stake held in Impact Developer & Contractor (IMP) worth of EUR 855,000.
The founder and owner of Impact Bucuresti (IMP), businessman Dan Ioan Popp, sold in the last two weeks of 2010 8 million shares held in Impact (IMP) worth of RON 3.67m (about EUR 855,000). The sale involved a 4% stake [...] >> mai mult >>
ianuarie 4, 2011
Oltchim Rm. Valcea (OLT) shareholders approved the sale of assets worth EUR 8m.
Oltchim Ramnicu Valcea (OLT) shareholders approved last week the sale by tender of Ramplast, the building materials division, at a starting price of RON 31.8m (EUR 7.4m), excluding VAT, and also the auction of several assets including a [...] >> mai mult >>
decembrie 30, 2010
Romania to issue RON 13-15bn debt in Q1 2011.
Romania plans to issue government securities worth of RON 13-15bn (EUR 3-3.5bn) in the first quarter of 2011, including RON 4.8bn in January, the Finance Ministry said on Wednesday. The Ministry said in a statement that Romania will use the raised funds to re-finance [...] >> mai mult >>
decembrie 30, 2010
SIF Oltenia (SIF5) started to reduce its stake in BRD-GSG (BRD).
SIF Oltenia (SIF5) sold on Tuesday a stake of 0.06% in BRD worth RON 5.16m. SIF Oltenia was the only SIF which did not sold BRD this year. SIF5 is currently the largest minor shareholder in BRD, with a stake of about 5.5%. These sales will bring strong profits considering that [...] >> mai mult >>
decembrie 30, 2010
SIF Muntenia (SIF4) owns a stake of 4.86% in BRD-GSG (BRD).
According to a statement issued by BRD-GSG (BRD), SIF Muntenia (SIF4) currently owns a stake of 4.86% in BRD and also 4.86% of the voting rights. (Source: BSE) [...] >> mai mult >>
decembrie 29, 2010
NBR: RON16.35bn in overdue loans at the end of November.
Individuals and companies had RON 16.35bn 15.9bn in past due installments, up 2.8% MoM leading to a share of overdue installments in the overall volume of loans of 7.8% in November against 7.63% in October. The balance of past due installments on loans in national currency was of RON 7.69bn in [...] >> mai mult >>
decembrie 29, 2010
NSI: The number of residential building permits fell 13.4% in the first 11 months.
The number of building permits issued for residential buildings rose from 39,257 in the first 11 months of the year, down 13.4% compared to permits issued during the previous year, according to data released on Tuesday by the National Institute of Statistics. [...] >> mai mult >>
decembrie 29, 2010
According to the opinions expressed in December 2010 by company managers regarding December 2010 – February 2011, they foresee a relative stability in services activity, a moderate decrease in manufacturing activity and in retail and decrease in the construction sector compared to previous [...] >> mai mult >>
decembrie 28, 2010
Romania's Jan-Nov consolidated budget deficit shrinks to 5.2% of GDP.
According to the Ministry of Finance, Romania's consolidated budget showed a deficit of RON 26.8bn (EUR 6.25b) in the first 11 months of 2010, equivalent to 5.2% of the gross domestic product projected for the current year. Against October, the budget gap expanded by six percentage points. [...] >> mai mult >>
decembrie 28, 2010
Romanian capital market will benefit of global accounts and short-selling from 2011.
Romanian National Bank (BNR) has approved the changes and additions to the RoClear system, rules contained in the Code of the Central Depository, in order to enforce the National Securities Commission regulations on global accounts [...] >> mai mult >>
decembrie 28, 2010
Vrancart Adjud (VNC) shareholders approved a EUR 10m investment project.
The investment project aims to develop and modernize the recovery network of recyclable materials and their transformation into sanitary paper products and cardboard. Out of the total amount of EUR 10m (excluding VAT), EUR 3m represent non-reimbursable [...] >> mai mult >>
decembrie 28, 2010
SC Scop Line SA announced for today a sale at order of a number of 973,000 shares held in SIF Oltenia (SIF5). (Source: BSE) >> mai mult >>
decembrie 24, 2010
Fondul Proprietatea submitted the Prospectus to BSE on Thursday.
Franklin Templeton, Fondul Proprietatea’s manager, filed Thursday to BSE the prospectus and the admission to trading solicitation. The approval of the listing is expected in early January. (Source: Wall-Street.ro) [...] >> mai mult >>
decembrie 23, 2010
The Parliament adopted 2011 State Budget.
Romania's Parliament adopted on Wednesday the state budget for 2011, with 207 votes for, 143 votes against and no abstentions. (Source: Mediafax)
[...] >> mai mult >>
decembrie 23, 2010
NSC approved the admision to trading on BSE Tier I for Concefa Sibiu (COFI).
The National Securities Commission (NSC) has approved the prospectus for admission to trading on the BSE regulated market Tier I of Concefa Sibiu (COFI), company controlled by businessman Horatiu Cercel. Company’s officials stated in the prospectus they do not [...] >> mai mult >>
decembrie 22, 2010
SIFs’ assets exceed RON 7bn in November.
The five financial investment companies recorded an asset growth of 2% in November, up to RON 7.08bn (EUR 1.65bn), according to statistics published by the Romanian Association of Asset Managers (AAF). The steepest decline in net assets, by [...] >> mai mult >>
decembrie 22, 2010
Fondul Proprietatea’s listing prospectus was published yesterday, one more step towards listing.
According to Franklin Templeton’s calendar, NSC will issue the registration certificate of the securities no later than today, December 22nd, date the transfers of FP shares at the Central Depository will be suspended until the listing. The [...] >> mai mult >>
decembrie 21, 2010
According to Government sources, the amount currently considered by the Romanian authorities for the new agreement with the IMF is about EUR 5-6bn, but its value could increase to EUR 8bn, according to the need for funding that will be [...] >> mai mult >>
decembrie 21, 2010
SIF Muntenia (SIF4 RO) reduced its stake in BRD GSG (BRD RO) below 5%.
According to reports submitted to the Bucharest Stock Exchange, SIF Muntenia (SIF4) reported a 4.86% ownership in BRD SocGen (BRD), down from 5.03%, result of transactions made during Friday’s session. Most of the exchange (0.14%) was achieved through a Deal transaction with 1 million [...] >> mai mult >>
decembrie 21, 2010
BSE (BVB RO) aims to exceed Prague’s Stock Exchange liquidity in two years’ time.
Increasing the liquidity represents a priority for the Bucharest Stock Exchange (BVB RO) in 2011, objective that the main operator on the local capital market wants to achieve through the listing of new products such as ETFs and [...] >> mai mult >>
decembrie 20, 2010
The budget deficit climbed to 5.2% of GDP after the first 11 months.
According to the State Secretary in the Ministry of Finance, George Gherghina, the budget deficit was of 5.2% of GDP after the first 11 months, up from 4.63% in late October. After the first [...] >> mai mult >>
decembrie 20, 2010
SIF Moldova (SIF2 RO) acquired Fondul Proprietatea shares worth of EUR 2.8m.
SIF2 bought a stake in FP worth RON 12.07m on 16th of December, according to a report sent to BSE which does not specify nor the number, neither the price of shares. Through several acquisitions, SIF Moldova owns now over 1% in Fondul Proprietatea, being one of the Funds main institutional [...] >> mai mult >>
decembrie 20, 2010
Dinel Staicu resigns as president and General Manager of SIF Oltenia (SIF5 RO) in February.
According to a statement issued by the financial investment company, Dinel Staicu was sentenced by the Bucharest City Court to 12 years in prison for defrauding the International Bank of Religion (Banca Internationala a Religiilor), and [...] >> mai mult >>
decembrie 20, 2010
Romania recorded in November the highest annual inflation (7.7%) in the EU.
According to data published on Thursday by Eurostat, Romania recorded in November a 7.7% annual rate of inflation, the highest in the European Union (EU), while the EU average was 2.3%. (Source: ZF) [...] >> mai mult >>
decembrie 20, 2010
NSC approved the listing prospectus of Fondul Proprietatea.
The National Securities Commission (NSC) approved yesterday the prospectus for admission to trading on the Bucharest Stock Exchange of Fondul Proprietatea. The registration certificate of the securities will be issued by NSC no later than Wednesday, [...] >> mai mult >>
decembrie 16, 2010
The decision on SIFs threshold likely to be postponed until spring.
According to the initiators of the draft legislation regarding the increase of SIFs threshold from 1% to 5%, the final vote on the draft will most probably happen in the spring, as the project has been blocked for [...] >> mai mult >>
decembrie 16, 2010
Aerostar Bacau (ARS) 2011 budget foresees flat turnover.
Aircraft manufacturer Aerostar Bacau (ARS) has budgeted for next year a turnover of RON 150m, at the same level as estimated by 2010 budget, and a net income of RON 9m, 63% lower than the one budgeted for 2010. In the first [...] >> mai mult >>
decembrie 16, 2010
Fondul Proprietatea’s assets worth near 18% more at the end of November.
The advance was mainly due to changing asset evaluation, net asset value per share standing at RON 1.1541 while in October it stood at RON 0.9792. The Fund's net asset value is given by the aggregate value of the [...] >> mai mult >>
decembrie 15, 2010
FDIs amounted to EUR 2,145m in the first ten months of 2010, down 26.21% YOY, financing 43.4% of the CA gap; FDIs were carried under the form of equity subscription (EUR1,434m) and intra-group loans (EUR711m). (Source: National Bank of Romania) [...] >> mai mult >>
decembrie 15, 2010
Jan-Oct 2010 external debt stood at EUR89.374bn (up 10% YTD).
The medium and long-term debt rose to EUR71.331bn in the first ten months of 2010, up 8.38% compared to FY09, while the short term debt widened by 17.14% compared to FY09, to EUR18.043bn. (Source: National Bank of Romania) [...] >> mai mult >>
decembrie 15, 2010
Fondul Proprietatea started to restructure its portfolio.
Fondul Proprietatea, managed by Franklin Templeton, announced the sale at auction of a 4.59% stake in Marlin, a financial leasing company, this being the first decision to restructure the portfolio taken by the new manager. The tender notice does not specify the price. The deadline [...] >> mai mult >>
decembrie 15, 2010
SIF Transilvania (SIF3 RO) subscribed EUR 2.4m in Tusnad (TSND RO) share capital increase.
SIF Transilvania subscribed shares in Tusnad (TSND) worth of RON 10.4m (EUR 2.4m) in the ongoing share capital increase. SIF3 subscribed these shares in order to keep its stake at 64.9%. TSND shareholders approved a share capital increase in cash [...] >> mai mult >>
decembrie 14, 2010
Moody’s improved the outlook of Transelectrica’s (TEL RO) rating to stable.
Moody's Investors Service upgraded, on Friday, the “Baa3” rating outlook for Transelectrica from negative to stable, forecasting that, despite lower financial results in 2009 and 2010, the generated cash flow will remain solid. According to Moody’s, the company will be able to [...] >> mai mult >>
decembrie 14, 2010
SIF Muntenia (SIF4 RO) holds a 10% stake in Broker Cluj (BRK RO).
SIF Muntenia (SIF4) continued during last months to acquire shares in Broker Cluj (BRK), increasing its stake up to 10% from 8.7% during summer. Main shareholders with stakes over 5% in Broker Cluj are SIF Muntenia and Ioan Cartis with a 8.25% stake. (Source: ZF) [...] >> mai mult >>
decembrie 13, 2010
Romania's trade gap narrowed 22.3% YoY in October to EUR 736.5m.
According to NSI data published on Friday, Romania’s trade deficit dropped to RON3.15bn, while in September it was of EUR 831.6m, down 28% YoY. Exports rose 28% YoY in October to EUR 3.52bn while imports advanced 15.1% to EUR 4.26bn. In the first ten months, the trade gap narrowed 4.7% to [...] >> mai mult >>
decembrie 13, 2010
November Consumer Price Index rose 0.52% MOM and 7.73% YOY.
In annualized terms, inflation was up 7.73% YOY against 7.88% in October, consequence of a monthly increase in prices of 0.52% in November as food prices and non-food products prices were 0.88% and 0.38% higher MoM, respectively, while services prices rose a mere 0.2%. (Source: National Statistics [...] >> mai mult >>
decembrie 13, 2010
Sibex requires the court to overrule Government decision of listing Romgaz on BSE (BVB).
Sibiu Monetary Financial and Commodities Exchange (SIBEX) requires the court to set aside the Government decision no. 831/04 of August 2010, which refers to the sale of a stake owned by the Romanian state in Romgaz through the Bucharest Stock Exchange (BSE). The case will be tried on the 30th [...] >> mai mult >>
decembrie 10, 2010
Global accounts for Fondul Proprietatea shares.
The National Securities Commission (NSC) decided that Fondul Proprietatea shares will be traded on the Bucharest Stock Exchange (BSE) through global accounts without pre-confirmation, just like in case of Erste Bank (EBS) shares. [...] >> mai mult >>
decembrie 10, 2010
SIF Muntenia (SIF4 RO) acquired Fondul Proprietatea shares worth of EUR 2.27m.
SIF4 bought a stake in FP worth RON 9.8m on 8th of December, according to a report sent to BSE which does not specify nor the number, neither the price paid for the shares. [...] >> mai mult >>
decembrie 9, 2010
The Government opposes to SIFs threshold increase to 5%.
According to the president of the National Securities Commission (NSC), Gabriela Anghelache, the authorities have sent three weeks ago a view, which states that it disagrees with the increase of SIFs threshold to 5%. A legislative proposal was initiated last year to eliminate the threshold, which is [...] >> mai mult >>
decembrie 9, 2010
Romania's industrial output rose 3.8% in the first ten months of 2010.
Romania's industrial output advanced in the first ten months due to the increases of production and supply of electricity, gas, steam and air conditioning (8.5%) and by manufacturing industry (4.5%) while mining and quarrying fell by 8.2%. In October alone, the country's industrial output remained [...] >> mai mult >>
decembrie 9, 2010
Romania’s construction works volume fell 8% YoY in October.
The volume of construction, serial number adjusted for seasonal and working days decreased by 1.3% MoM in October, as new construction work fell 13. 7%. Increases were registered as follows: maintenance and repair works (40.7%) and capital repairs (+9.9%). Construction volume fell 8.0% [...] >> mai mult >>
decembrie 9, 2010
Industrial new orders were up 14.1% YOY in October.
Industrial new orders advanced YoY due to increases in all industrial groups: intermediate goods industry (+22.5%), capital goods industry (+10.7%), durable goods industry (+9.7%) and household goods industry (+5.4%). On monthly basis, new orders in industry fell by 6.5% while in the first ten [...] >> mai mult >>
decembrie 8, 2010
Capital gains tax to be withheld at source starting with 2011.
Members of the Committee on Budget, Finance and Banks of the Chamber of Deputies voted an amendment to the law which approves the Ordinance 58/2010 which amends the Tax Code, which foresees that capital gains tax should be withheld at source by brokerage companies. (Source: EconomicTimes.ro) [...] >> mai mult >>
decembrie 8, 2010
FIC: Foreign investments next year could exceed 2010 value, estimated at EUR4bn.
According to the Foreign Investors Council (FIC), the foreign direct investments could exceed in 2011 the EUR4bn estimated for this year, considering 2011 economic growth is forecasted to be positive. Foreign direct investments in the first nine months of 2010 amounted to EUR 2.07bn, down by almost [...] >> mai mult >>
decembrie 8, 2010
Adamescu’s stakes in SCDM (74%) and ATRA (72.7%) were blocked due to a forced execution case.
The court blocked in an enforcement case the stakes that Dan Adamescu controls through The Nova Group Investments in Astra Insurance (ATRA) – 72.68% and Unirea Shopping Center (SCDM) – 74%. The Nova Group Investments would have to pay AVAS penalties amounting to about RON 20m as the [...] >> mai mult >>
decembrie 7, 2010
Government approved the draft of the state budget and social security budget for 2011.
Ministers endorsed the final draft of the state budget law and the state social security budget, and the two projects will be submitted to the Parliament for debate and approval. The project aims to cut the budget deficit from 6.8% down to 4.4% and foresees a 1.5% increase in GDP. (Source: NewsIn) [...] >> mai mult >>
decembrie 7, 2010
Banca Transilvania (TLV RO) expanding in Cyprus, by opening Limassol Agency.
Banca Transilvania (TLV RO) announced on Monday that it has opened a new unit in Cyprus, a second location in the city of Limassol after entering the Cypriot market in October 2007. Banca Transilvania's objective is for the bank's products and services to be used by as many of the approximately [...] >> mai mult >>
decembrie 6, 2010
NSI: Investments in the economy fell by 14.2% in Q3.
Investments in national economy decreased by 14.2% in the third quarter, after having registered a 23.1% reduction in new construction jobs and over 9% for equipment, including transport. (Source: National Institute Statistics) [...] >> mai mult >>
decembrie 6, 2010
Fondul Proprietatea submited the listing documents to NSC.
FP submited for approval to the National Securities Commission (NSC) on Friday, 3rd of December the listing prospectus, 20 days before expiry limit. The listing the fund on the stock exchange would take place on 25th of January 2011, according to the schedule released by Franklin Templeton, [...] >> mai mult >>
decembrie 6, 2010
First IPO in two years, a failure.
The initial public offering of Hidraulica Plopeni (HPR) producer of hydraulic pumps was just 0.04% subscribed, less than EUR 1,000, the lowest level registered by an IPO launched on the Stock Exchange in the past 10 years. The company had planned to raise RON10m (EUR2.3m) to accomplish its [...] >> mai mult >>
noiembrie 30, 2010
European Commission anticipates that investments will drive the economy in 2011.
European Commission expects investments to pick up next year by 4.2%, and become one of the drivers of the economy, with net exports to have a negative contribution as imports will rise faster than exports. Domestic demand, the main growth driver of the Romanian economy in the years of [...] >> mai mult >>
noiembrie 30, 2010
Romania’s public debt rises to 36.2% of GDP in September.
Romania’s public debt rose in September by 3.3% against August, up to RON185.28bn, increasing its weight in GDP by 1.17 percentage points up to 36.22%, according to the data published on Monday by the Ministry of Finance. (Source: Mediafax) [...] >> mai mult >>
noiembrie 30, 2010
Templeton is ready to intervene to raise FP price.
Officials of Franklin Templeton, which manages over 3 billion-euro assets of Fondul Proprietatea, are considering using the option of buying back Fund shares as they have pledged to do everything they can to see that the price at which Proprietatea will be traded on the Bucharest Stock Exchange [...] >> mai mult >>
noiembrie 29, 2010
MCIS: Romanian State to sell the 46% stake in Romtelecom, either to OTE or by listing it to BSE.
According to official news from the Ministry of Communication and Information Society (MCIS), the Romanian State wants to sell the stake it holds in Romtelecom either directly to OTE, or to list the shares on the stock exchange. Romanian authorities are waiting for a bid from OTE Greek group next [...] >> mai mult >>
noiembrie 29, 2010
3-year euro-denominated bonds issue was oversubscribed.
Finance Ministry borrowed on Thursday EUR1.3bn by selling bonds with a maturity of three years, over the initial targeted value of RON1bn. The average yield was 4.8%, although the Finance Ministry targeted a 4.5% interest. (Source: Financiarul.com) [...] >> mai mult >>
noiembrie 29, 2010
BT Group's obligation to reduce its holding in SIF1 (SIF1 RO) was suspended by court.
Bucharest Court of Appeal decided to suspend the decree issued in August by the NSC, which demanded BT Group to reduce its stake in SIF Banat-Crisana (SIF1) from 17.28% to 1%, until the case is solved. BT Group comprises in Banca Transilvania (TLV RO), BT Evaluator, BT Account Agent Asigurare, BT [...] >> mai mult >>
noiembrie 29, 2010
Boromir Prod (SPCU RO) shareholders approved the merger with two companies.
SPCU shareholders approved on 25th of November the merger by absorption with Boromir Pan (PANC) and Eurostar Invest. SPCU shareholders also approved a share capital increase, following the merger, of RON126,928, by issuing a total of 1.27 million shares at a face value of RON 0.1 /share. Also, [...] >> mai mult >>
noiembrie 29, 2010
Retrasib Sibiu (RTRA) shareholders approved on Friday the admission to trading on the BSE regulated market. (Source: BSE) >> mai mult >>
noiembrie 26, 2010
Consolidated general budget for the first ten months of this year ended with an estimated deficit of RON23.7bn, below the target deficit of RON28.2bn provided in the stand - by arrangement with the International Monetary Fund, announced on Thursday the Finance Ministry. The deficit advanced [...] >> mai mult >>
noiembrie 26, 2010
NBR: RON15.9bn in overdue loans at the end of October.
Individuals and companies had RON15.9bn in past due installments, up 1.5% MoM leading to a share of overdue installments in the overall volume of loans of 7.63% in October against 7.48% in September. The balance of past due installments on loans in national currency was of RON 7.43bn in October [...] >> mai mult >>
noiembrie 26, 2010
Central Bank Governor, Mugur Isarescu: Romania doesn’t risk default.
According to governor’s Mugur Isarescu statement on Thursday, Romania is in no danger to suspend its external payments, in reply to media reports about an imminent default following a statement made by the head of the International Monetary Fund. (Source: Mediafax) [...] >> mai mult >>
noiembrie 26, 2010
Banca Transilvania (TLV RO) delays Vienna share sale until 2011.
According to Robert Rekkers, Banca Transilvania is focusing on a share-capital increase approved by its shareholders on April and decided to delay the share sale originally planned for this year. The April capital increase has been challenged in court by SIF Banat Crisana (SIF1), which is also one [...] >> mai mult >>
noiembrie 25, 2010
IMF confident Romania won’t enact income tax cut.
The International Monetary Fund expressed on Wednesday its concerns over Romanian Senate’s recent vote to lower the income tax rate to 10% from 16%, saying it expects the authorities will ensure the “unfunded” tax cut will not be enacted. (Source: Mediafax) [...] >> mai mult >>
noiembrie 25, 2010
OMV Petrom (SNP RO) to pay up to EUR200m for drilling services by 2015.
Romanian leading oil company OMV Petrom (SNP RO) announced on Wednesday it will pay between EUR100m and EUR200m for oil and gas drilling service over the next four years. (Source: Mediafax) [...] >> mai mult >>
noiembrie 25, 2010
Oltchim Rm. Valcea (OLT) wants to increase its share capital.
The Board of Oltchim convened O&E SGA on December 28th and proposed its shareholders to approve a capital increase from current value of RON34.3m up to maximum RON34.33m, representing state’s contribution consisting of a land worth of RON15,635. (Source: BSE) [...] >> mai mult >>
noiembrie 25, 2010
Mihai Miron, Ropharma (RPH): “We could sell a 12% stake next year”.
The company was transferred from Rasdaq to BSE Tier I and started trading on Wednesday. According to company’s management, at present time free-float stands at 18% and considering the prerequisite of 25%, RPH should increase free-float and sell a further stake of 12% next year. (Source: [...] >> mai mult >>
noiembrie 25, 2010
Romanian Government based 2011 State budget on 16% flat tax, doesn’t endorse lower tax.
Romanian Finance Minister, Gheorghe Ialomitianu, said Tuesday after the Senate voted to lower the flat tax on income to 10% from 16% that the Government is drafting the state budget for next year based on the 16% rate. The draft act will become law if the Chamber of Deputies, which has the final [...] >> mai mult >>
noiembrie 25, 2010
Changes in Petrom’s (SNP RO) Executive Board.
Petrom announced two changes in its Executive Board starting with January 1st, 2011, it will have two new members: Daniel Turnheim, Chief Financial Officer and Hilmar Kroat-Reder, responsible for Gas and Power. The two new members of Petrom’s EB succeed Reinhard Pichler and Gerald Kappes [...] >> mai mult >>
noiembrie 25, 2010
Concefa Sibiu (COFI) business jumped 30% in the first nine months.
Building company Concefa, controlled by businessman Horatiu Cercel, reported for the first nine months of 2010 net sales of RON58.6m, up 30% YOY. Company's net profit increased about six times up to RON2.39m. The management expects the end of 2010 to show better sales as company’s work [...] >> mai mult >>
noiembrie 25, 2010
Cemacon Zalau (CEON) shareholders approved a capital increase up to RON29.32m.
In the SGA held on 19th of November, CEON shareholders approved a share capital increase from RON24.43m up to RON29.36m, by issuing a number of 48,877,930 new shares with a face value of 0.1 RON/share, a issue price of 0.1 RON/share and at a subscription rate of 0.2. The last day to buy shares in [...] >> mai mult >>
noiembrie 23, 2010
Government keeps 2010 deficit target at 6.8% of GDP in the second budget revision.
The government kept the 2010 consolidated budget deficit target at 6.8% of GDP in this year's second budget revision approved by emergency ordinance on Monday. This budget gap target was approved earlier this year with the IMF, the European Union and other international lenders, which are [...] >> mai mult >>
noiembrie 23, 2010
Franks (IMF): Romania must keep the fiscal measures while adopting structural reforms.
According to the head of the IMF mission to Romania, Jeffrey Franks, Romania must keep the fiscal measures and to adopt structural reforms in order to improve long-term prospects. (Source: NewsIn) [...] >> mai mult >>
noiembrie 23, 2010
APIA: Car sales fell 22% in the first ten months, to 98,980 units.
According to the Association of Automobile Manufacturers and Importers (APIA), vehicle sales fell in October 22% YTD to 98,980 units but while in the previous month car sales increased by 6.4% to 11,781 units. (Source: Mediafax) [...] >> mai mult >>
noiembrie 22, 2010
Romania to issue EUR1bn 3-year Eurobond on November 25th.
According to a statement released by the Ministry of Finance, Romania will issue a three-year Eurobond worth EUR1bn (USD1.4bn) on the local market on November 25th, which will carry a 4.5% coupon. (Source: SeeNews) >> mai mult >>
noiembrie 22, 2010
Infusions of foreign capital in banks operating in Romania have exceeded EUR441.6m in first nine months of this year, increasing by 60% compared to the same period last year, when amounting to EUR275.78m, according to the Office National Trade Register. [...] >> mai mult >>
noiembrie 22, 2010
SIF Oltenia (SIF5 RO) subscribed RON6.4m to Banca Transilvania (TLV RO) share capital increase.
SIF Oltenia (SIF5) subscribed RON6.4m in cash in TLV share capital increase. The number of shares subscribed by SIF5 represents a stake of 5.33% of the new issued securities so that its stake could equal 5%, up from 4.91%. TLV shareholders approved in April a RON391.5m capital increase, [...] >> mai mult >>
noiembrie 22, 2010
SIF Banat Crisana (SIF1 RO) sells Prodplast Imobiliare and buys Fondul Proprietatea.
SIF1 sold a stake worth RON2.77m held in Prodplast Imobiliare and acquired shares worth RON2.9m in Fondul Proprietatea. Following this sale, SIF1 holds a remaining 1.43% stake in Prodplast Imobiliare, down from 4.77%. [...] >> mai mult >>
noiembrie 22, 2010
Impact Developer & Contractor (IMP RO) shares resume trading on Tuesday after a 4 months break.
IMP stocks will resume trading on the Bucharest Stock Exchange (BSE) on Tuesday, November 23rd, after having been suspended in July following court’s decision on insolvency. The last price the shares were traded was 0.43 RON/share. (Source: BSE) [...] >> mai mult >>
noiembrie 22, 2010
Sanofi-Aventis to begin exporting ten products made by Zentiva next year.
Sanofi-Aventis, owner of Zentiva, is set to start exporting ten drugs produced in the plant it owns in Bucharest in February-March 2011. At present, the company has a small presence abroad, in the Republic of Moldova, but higher export volumes will be reached with the ten products aimed at [...] >> mai mult >>
noiembrie 19, 2010
World Bank: Romania might show a year end fiscal deficit higher than the 2010 target.
According to a report conducted for the last ten countries that joined the European Union by the World Bank, Romania, Bulgaria, Poland and Slovakia are expected to record fiscal deficits higher than the targets set for the end of 2010. (Source: NewsIn) [...] >> mai mult >>
noiembrie 19, 2010
Ion Ariton: There is no hurry to sell the 9.8% stake in Petrom (SNP RO).
Ion Ariton, the Economy Minister, declared that the state is in no rush to sell the 9.8% stake in Petrom, saying that a better price is awaited. After selling this stake, the Ministry of Economy will hold a 10.8% stake in OMV Petrom. (Source: ZF) [...] >> mai mult >>
noiembrie 19, 2010
Franklin Templeton seeks suspension of Romania’s power holdings setup, Electra and Hidroenergetica.
US Franklin Templeton Investment Management, sole administrator of Romanian investment fund Fondul Proprietatea, said it filed a court action against the government’s plan to set up two national power holdings, citing the lack of a coherent privatization and restructuring strategy. Franklin [...] >> mai mult >>
noiembrie 18, 2010
Romania September construction output rises at fastest pace in EU.
Romania’s production in the construction sector advanced 4% compared to August, while the average activity in EU fell 1, 7%, according to Eurostat data. Construction activity in Romania recorded a 14.6% decline QoQ in the third quarter, the most significant decrease in the EU, while on [...] >> mai mult >>
noiembrie 18, 2010
The budget deficit target agreed with the IMF for the first quarter of 2011 is of RON5.7bn.
The Government has agreed with the IMF for the first quarter of next year an indicative budget deficit target of RON5.7bn, decreasing by one third compared to the same period this year, less than RON2.7bn compared to March 2010, respectively. (Source: NewsIn) [...] >> mai mult >>
noiembrie 18, 2010
Sources: Romanian Fondul Proprietatea could be listed by end of January.
According to sources in the capital market, Franklin Templeton Investment Management aims to list the Romanian investment fund Fondul Proprietatea on BSE by January the 25th, 2011. (Source: Mediafax) [...] >> mai mult >>
noiembrie 17, 2010
Romania recorded the highest annual inflation in the EU in October, 7.9%.
Romania’s annual inflation reached 7.9% in October, the highest in the European Union (EU), while the EU average was 2.3%, according to data published by the European Statistical Office. Among the countries with highest inflation also ranked Greece (5.2%) and Estonia (4.5%). (Source: NewsIn) [...] >> mai mult >>
noiembrie 17, 2010
Romania to launch first MTN issue late 2010/early 2011.
Romanian Finance Ministry will launch the first bond issue of its planned EUR7bn medium term notes (MTNs) program at the end of 2010 or early 2011, according to the government’s letter of intent that will be sent to the International Monetary Fund. (Source: Mediafax) [...] >> mai mult >>
noiembrie 17, 2010
9M10 EBITDA soared 308% YoY to RON 108.9m, above our expectations following an advance in revenues of 66.4% YoY to RON874.4m, slightly above our 9M estimates. EBITDA margin more than doubled at 12%% against last year’s 5%. Company’s financial activity lead to a profit of only [...] >> mai mult >>
noiembrie 17, 2010
SIF Moldova (SIF2 RO) is one of the main BVB shareholders along with Erste and Templeton.
SIF Moldova (SIF2) owns a stake of about 4.5% of the capital Bucharest Stock Exchange (BVB RO) following the acquisitions made in October and does not rule out further acquisitions. Foreign investment funds managed by Franklin Templeton and Erste also bought large stakes in BVB during last [...] >> mai mult >>
noiembrie 17, 2010
SIF Banat-Crisana (SIF1 RO) acquired Fondul Proprietatea shares worth of RON3m.
SIF1 bought a stake worth RON2.97m on the 15th of November, according to reports which is not referring to the price or number of shares purchased. (Source: ZF) [...] >> mai mult >>
noiembrie 16, 2010
Romania Jan-Aug exports rise at 5th fastest pace in EU.
Romanian exports rose 25% on the year to EUR23.3bn in the first eight months of 2010, the fifth biggest increase in the European Union, according to official data from Eurostat. (Source: Eurostat). [...] >> mai mult >>
noiembrie 16, 2010
NBR: Banks expect a rebound in household demand for loans in Q4.
Household demand for loans remained in negative territory for both consumer and mortgages, but correction has been most pronounced for consumer loans. Expectations banks are positive, indicating a slight recovery in demand in Q4 2010, stated a NBR survey. (Source: NBR) [...] >> mai mult >>
noiembrie 16, 2010
Vasilescu, NBR: the 1.5% growth in 2011 is possible only if further mistakes are not made.
BNR governor's advisor, Adrian Vasilescu, declared that Romania could record the 1.5% growth estimated by authorities and the IMF for 2011, if further mistakes are not made. (Source: NewsIn) [...] >> mai mult >>
noiembrie 16, 2010
EBRD granted BRD a credit line of EUR 10m to finance energy projects run by the private business sector.(Source: NewsIn) >> mai mult >>
noiembrie 15, 2010
Romania’s foreign debt rose to EUR89.3bn at end-September.
Romania's foreign debt amounted to EUR89.318bn at the end of September, up 10% from the end of 2009. The end-September figure includes EUR71.673bn in long-term and medium-term foreign debt, up 8.9% from the end of 2009. Romania paid EUR10.292bn on its long-term and medium-term foreign debt in the [...] >> mai mult >>
noiembrie 15, 2010
Romania's current account gap widens 32.6% in the first nine months, to EUR 4.23bn.
Romania's current account deficit widened 32.6% to €4.23bn in the first nine months, from a gap of €3.2bn a year earlier, mainly due to falling current transfers surplus, according to National Bank. Foreign direct investments, which stood at €2.07bn, covered nearly half of the current [...] >> mai mult >>
noiembrie 15, 2010
Antibiotice Iasi (ATB RO) posted 9M10 results under RAS with a net profit of RON21.1m up 33.9% YoY.
At a first sight we see results broadly in line with our full year forecasts as 9M results top line came broadly in line with our estimates while higher net financial loss led to a slightly lower bottom line. 9M10 EBITDA advanced 22% YoY to RON 43.85m with margin above at 24.7% against [...] >> mai mult >>
noiembrie 15, 2010
Prospectiuni Bucuresti (PRSN RO), net profit of EUR3.1m in Q3.
PRSN recorded in the third quarter of this year a net profit of RON13.2m, 22% higher than the same period last year, although the company's business declined during the same period by 4.1% to RON54.2m. The third quarter is traditionally one of the best in terms of profitability. After the first nine [...] >> mai mult >>
noiembrie 15, 2010
Armax Gaz (ARAX RO) business fell by 32% in Q3.
ARAX reported a 9M profit of RON1.36m, down 55% from the same period in 2009 as sales fell 32.2% to almost RON15m. After the first nine months, sales advanced by 56% to RON71.2m and profit rose 10.3% to RON5.58m. (Source: BSE) [...] >> mai mult >>
noiembrie 12, 2010
EBRD projects 2% GDP decline in 2010 and 0.9% growth in 2011.
The EBRD’s Transition Report to be launched next week projects 2% GDP decline this year followed by a 0.9% growth in 2011, a chief economist at the bank, Peter Sanfey, revealed in a conference in Bucharest. (Source: IntelliNews) [...] >> mai mult >>
noiembrie 12, 2010
Subsidiaries of Banca Transilvania (TLV RO) announced for today a sale at order of a number of 23.83 million shares (4.4% stake) held in SIF1. >> mai mult >>
noiembrie 12, 2010
9M10 EBITDA advanced 12.4% YoY to RON 18.49m as revenues grew 15.9% YoY to RON59.76m and OPEX rose 17.2% to RON45.11m. At first sight, we see results below our full year forecasts and we will revert with details. From the financial activity the company recorded a profit of only RON0.8m down 57% YOY [...] >> mai mult >>
noiembrie 12, 2010
9M10 EBITDA fell 44.7% YoY to RON 14.65m on revenues decline of 23.1% YoY to RON144.31m. At first sight, we see results below our full year forecasts and we will revert. (Source: BSE) [...] >> mai mult >>
noiembrie 12, 2010
9M10 EBITDA soared 63.9% YoY to RON 36.6m on a 24.6% revenues growth YoY to RON 144.4m. Top line is broadly in line with our full year forecast while bottom line came below expectations and we will revert with details. (Source: BSE [...] >> mai mult >>
noiembrie 11, 2010
Lucian Croitoru: Romania short-term growth potential up to 1%.
According to an official of the central bank, Romania’s economic growth potential ranges between 0% and 1% on the short term, warning that the recovery from recession may be sluggish. (Source: Mediafax) [...] >> mai mult >>
noiembrie 11, 2010
Unemployment reached 7.08% in October down from 7.35% in September.
The unemployment rate dropped down to 7,08%, as the number of people out of job reached 645.453, with 24.794 lower than the previous months. (Source: National Agency for Employment - ANOFM). [...] >> mai mult >>
noiembrie 11, 2010
Private equity investment in Romania halved to EUR56m in the first nine months.
Private equity funds invested EUR56m in Romania during Jan-Sep, half of the amount invested in the same period of the previous year, according to data from the South Eastern Europe Private Equity Association. (Source: Mediafax) [...] >> mai mult >>
noiembrie 11, 2010
IMS Health: Pharmaceuticals market to grow by average 5.3% YoY in 2011-13.
The market research company IMS Health projected a medicine sales growth at an annual average of 5.3% over the next three years. From an average annual growth rate of 8% over the past years, the market’s dynamics eases gradually toward an average growth of 5%. IMS Health Romania recently [...] >> mai mult >>
noiembrie 11, 2010
OMV Petrom (SNP RO) likely to postpone the EUR600m share capital increase.
Romanian leading oil company OMV Petrom (SNP RO) stated on Wednesday that due to solid financials the need for a capital increase is reduced, allowing the company to follow the state’s initiative to sell a 9.8% stake. The EUR600m capital increase was planned to be completed by the end of April [...] >> mai mult >>
noiembrie 11, 2010
Teraplast (TRP RO)9M10 financial results under RAS with net profits of RON9.85m, down 13.6% YoY, while sales advanced 14.06% and 9M10 EBIT declined 25% YoY to RON9.57m from RON12.79m in the first nine months of 2009. (Source: BSE) >> mai mult >>
noiembrie 11, 2010
Condmag (COMI RO) shareholders approved a capital increase up to RON38.28m.
COMI shareholders approved on Tuesday the issuance of a number of 153,150,211 new shares at a face value of 0.1 RON/share. It is a two step share capital increase. The first step will run between 9 Dec 2010–31 Jan 2011. At first each shareholder can subscribe 2 new shares for 3 old shares. In [...] >> mai mult >>
noiembrie 10, 2010
CPI advanced to 7.88% in October.
The annual inflation rate rose in October to 7.88% amid higher prices of non-food products with 10.56%, of food prices to 5.51% and due to a 6.06% rise in prices for services, according to data published Wednesday by National Statistics Institute. (Source: INS) [...] >> mai mult >>
noiembrie 10, 2010
The bottom line was affected by the impairment on Kazakh assets and FX losses due to USD loans given to the subsidiaries. After a thorough analysis of results we will revert with further details. However, Q3 Clean CCS EBIT was 7% lower YoY at RON 760m, CAPEX was of RON 990m, 50% higher while [...] >> mai mult >>
noiembrie 10, 2010
9M10 EBITDA jumped 42.5% YoY to RON 431.12m on revenues growth of 14% YoY to RON 915.7m. At first sight, we see results broadly in line with our full year forecasts. (Source: BSE) [...] >> mai mult >>
noiembrie 10, 2010
Compa Sibiu (CMP RO) value of exports reached EUR61m during the first nine months.
Compa’s net profit rose during the first nine months to RON 6.24m (cEUR 1.5m), up from RON 0.42m against the first nine months of 2009 due to the advancement of about 70% of sales following a strong demand for export from BOSCH and Delphi. (Source: ZF) [...] >> mai mult >>
noiembrie 9, 2010
INS: The volume of construction in the first nine months decreased by 15.7%.
The volume of construction has declined in the first nine months of the year against the same period in 2009, with 15.7% as adjusted series based on the number of working days and seasonal and 16.4% in unadjusted series. (Source: National Institute of Statistics). [...] >> mai mult >>
noiembrie 9, 2010
Romania overdue pays on loans above RON20,000 rise to RON14.6bn in September.
A quarter of those who have contracted loans of more than RON20,000 recorded overdue pays on their loans in September. The value of debt stands at RON14.67bn, representing 6.31% of total amount due. In the first nine months of this year the number of debtors has advanced by over 20% YTD, [...] >> mai mult >>
noiembrie 9, 2010
Finance Ministry sold certificates worth RON1bn at an average yield of 7.07% per year.
The Finance Ministry took from banks RON1bn by selling treasury bills with maturity of one year, at a value similar to the programmed level, at an average yield of 7.07% per year, slightly more than that lately accepted 7% per year. (Source:ZF) [...] >> mai mult >>
noiembrie 9, 2010
BCC recorded a loss of RON9m in Q3 due to provisions.
Banca Comerciala Carpatica (BCC), reported for the first nine months of 2010 an EBIT of RON52.8m but provisions for non performing loans lead to a net loss worth of RON115,4m. H110 net loss was of RON106 m. (Source: ZF) [...] >> mai mult >>
noiembrie 9, 2010
Azomures (AZO) plans to borrow USD85m for renovation.
AZO shareholders approved loans worth USD85m to finance the investment to modernize and increase production, valued at USD115m. The company will use the funds to modernize and increase production capacity of ammonia and urea plants, as well as for constructing the granulation plant. (Source: [...] >> mai mult >>
noiembrie 8, 2010
Isarescu: The economy is sure to rebound starting this winter.
According to NBR governor Mugur Isarescu, there is a "calculated probability" that starting with the winter of 2010-2011, a sustainable, "relatively sound" economic growth could emerge. He also specified, however, that it takes at least one year from the time recovery starts until it is felt in [...] >> mai mult >>
noiembrie 8, 2010
Industry turnover up 10.8% YOY in Q3.
Industry accelerated its growth pace in the third quarter thanks to external demand, while consumption slowed down its decline, fuelling hopes that the economy may be doing better than anticipated. New orders in the industry rose by 26% in the first nine months of the year, after an increase of [...] >> mai mult >>
noiembrie 8, 2010
Retail sales working day and seasonally adjusted data decreased 2% YOY due to a drop of 9.4% in non-food items sales and -6.8% in food items, beverages and tobacco sales. On monthly basis, retails sales advanced 1% as non-food items sales fell 0.4% while food items, beverages and tobacco sales [...] >> mai mult >>
noiembrie 8, 2010
According to a press release issued by the company, ELMA shareholders approved the share capital increase up to RON67.6m by issuing a number of 338.019.352 shares with a face value of RON0.1/share. Shareholders also approved the admission to trading on the BSE regulated market. (Source: BSE) [...] >> mai mult >>
noiembrie 5, 2010
CPI rose in September to 7.77%, up 3.39pp against June.
In September 2010, the 12-month CPI inflation rate rose to 7.77%, 3.39 percentage points above the June reading. Thus, in Q310, inflation stood significantly above the upper limit of the variation band around the central target (3.5%) set for this year. The main driver of this evolution was the 5 [...] >> mai mult >>
noiembrie 5, 2010
Romania Central Bank says consumer credit growth limited.
Romanian central bank governor Mugur Isarescu declared on Thursday that local bankers shouldn’t have illusions about being able to resume consumer lending at pre-crisis levels, adding that the banks should focus on corporate loans instead. (Source: Mediafax) [...] >> mai mult >>
noiembrie 5, 2010
Hidraulica UM Plopeni, a EUR2.8m IPO.
The manufacturer of hydraulic pumps and equipment, Hidraulica UM Plopeni prepares an IPO of up to RON12m (EUR2.8m) with a view to listing on the BSE, IPO that will run from November 12th until December 3rd. This is the first IPO conducted by a company on the Bucharest Stock Exchange after the [...] >> mai mult >>
noiembrie 4, 2010
Sources: Central bank to change 2010 inflation forecast from 7.8% to 8.2%.
According to sources close to negotiations with the IMF, the National Bank of Romania will announce on Tuesday in the quarterly inflation report the upward revision of the inflation forecast for this year from 7.8% as estimated in August to 8.2%. (Source: Mediafax) [...] >> mai mult >>
noiembrie 4, 2010
Ministry of Economy to cease gas aid for chemical/power companies.
According to the Economy Minister, Romanian chemical companies and several power companies will no longer be allowed to use exclusively locally made natural gas, since such a measure would only boost gas prices for household consumers. Between May 2009 and end-October this year, local chemical [...] >> mai mult >>
noiembrie 4, 2010
NSC asked to decide over the bid for Amonil (AMO RO).
Salink Limited, shareholder of Amonil Slobozia (AMO), requested the National Securities Commission to determine whether businessman Ioan Niculae controls the fertilizers producer and if case, to force him to make a takeover bid. (Source: Wall-Street.ro) [...] >> mai mult >>
noiembrie 4, 2010
BCR, willing to convert into OLT shares half of Oltchim (OLT RO) credit line worth of EUR72m.
According to the State Secretary in the Ministry of Economy, Karoly Borbely, BCR "agreed in principle" to convert into OLT shares half of a credit line taken by Oltchim, worth of EUR72m. The State Secretary also declared that Banca Transilvania (TLV RO) is willing to become shareholder in OLT on [...] >> mai mult >>
noiembrie 3, 2010
PPI rose 7.9% YOY in September (up 1.4% MOM).
According to NSI, producer price index increased YOY by 7.9% in September advancing from a 6.7% YOY advance in August. September’s evolution was backed by the 11.2% YOY increase in energy goods prices (down 1.9% MOM), and by the 9% increase in manufacturing sector (up 1.5% MOM). (Source: INS) [...] >> mai mult >>
noiembrie 3, 2010
NBR: Inflation is expected to stabilize at 2.5% starting with 2013.
NBR announced on Tuesday that the inflation target is set for 2012 at 3%, with the usual accepted range of variation of +/-1pp. Strating with 2013, the central bank refered to a "stationary target for inflation”, of 2.5% plus the same range of variation, that should remain stable in [...] >> mai mult >>
noiembrie 3, 2010
Romania's Central Bank keepT key rate unchanged at 6.25%.
NBR decided on Monday at its last board meeting for this year, to keep its monetary policy rate unchanged at 6.25%, in line with analyst expectations. The central bank also decided to maintain the current ratios of minimum reserves on both RON-denominated and foreign currency-denominated liabilities [...] >> mai mult >>
noiembrie 2, 2010
IMF postpones completion of quarterly review by one month for January.
The IMF expert team completed its visit for the fifth quarterly review of the stand-by agreement without firm conclusions, but announced the postponement of the next tranche of nearly EUR900m, part of the EUR13bn agreement, for mid-January instead of mid-December. The head of the Fund’s expert [...] >> mai mult >>
noiembrie 2, 2010
Public debt rises 29% YOY to EUR42.4bn at end-August.
The public debt inched up by a mere 1% MOM while surging by 30% YOY to RON179.3bn (EUR42.4bn, up 29% YOY) as at end-August. The YOY rise was prompted by the steep 70% YOY advance of the foreign currency denominated debt to EUR 23.2bn. The share of the forex public debt thus reached 54.7% of the [...] >> mai mult >>
noiembrie 2, 2010
Analyst forecast: Romanian Central Bank likely to hold key rate at 6.25% on Tuesday.
According to analysts’ forecast Romania’s central bank, BNR, is likely to keep its key interest rate unchanged at 6.25% at its monetary policy meeting on Tuesday. At its last three board meetings, the central bank kept its monetary policy rate flat at 6.25%, after cutting it by a [...] >> mai mult >>
noiembrie 2, 2010
SIF3 profit fell four times YOY in the first nine months, salaries doubled.
SIF Transilvania (SIF3) revenues dropped over 60% during the first nine months down to RON63,2m (EUR15,1m), while net profit was four times lower at RON31,6m (EUR7,5m) due to the reduced number of transactions the company made. However, salaries doubled to RON14,4m eventhough the number of employees [...] >> mai mult >>
noiembrie 1, 2010
IMF: Romania to ask for new waiver on Government arrears.
IMF mission chief Jeffrey Franks said Friday that Romania hasn’t met the end-September performance criteria in the sector of general government arrears and it will ask the International Monetary Fund for a new waiver of non-observance. (Source: Mediafax) [...] >> mai mult >>
noiembrie 1, 2010
BRD's net profit dropped 28% YOY in the first nine months.
BRD posted a net profit of RON474m in the first nine months of the year, 28% lower than in the similar period of last year. The net operating result stood at RON1,626m up 11% YOY. Total credits rose 3% YOY at RON34.05bn while net cost of risk was of RON1,053m compared to RON 673m in the first [...] >> mai mult >>
noiembrie 1, 2010
BCR group's net income reaches RON6m in Q3.
Bad loan charges, losses related to fee and treasury revenue drove the quarterly income to a five-year low. BCR group, reported for the third quarter of this year a net income worth RON6m (EUR1.4m), down by more than 93% from the similar period of 2009. The figure is calculated in line [...] >> mai mult >>
octombrie 29, 2010
EBRD: The economy will grow by 0.9% in 2011. IMF considers 2011 the third year of economic decline.
EBRD, the largest institutional investor in Romania, has improved its estimates of the evolution of GDP next year to 0.9% from an expected zero growth in July. Even so, it is by far the most pessimistic forecast of all countries in the region. For 2010 EBRD estimates that the economy will shrink by [...] >> mai mult >>
octombrie 29, 2010
IMF: Romanian GDP per capita may reach 2008 level in 2013.
According to estimates the International Monetary Fund (IMF), the Gross Domestic Product (GDP) per capita, one of the most relevant indicators of living standards will reach a level of USD9,800 in 2013, while in 2008 it was of USD9,500. (Source: Mediafax) [...] >> mai mult >>
octombrie 29, 2010
NSI: Managers estimate a moderate advance in the industry in Q4, decrease in trade and construction.
According to the opinions expressed in October 2010 by company managers regarding the last three months of this year, they foresee a moderate growth in manufacturing activity, relative stability in services, moderate decrease in retail and decrease in the construction sector compared to Q3. (Source: [...] >> mai mult >>
octombrie 29, 2010
Building permits down 13% in the first nine months of 2010.
In September 2010 building permits were down 12.8% compared to August 2010 and -13.8% compared to September 2009. In the first nine months of 2010 building permits dropped 13.0% against the corresponding period of 2009. (Source: NSI) [...] >> mai mult >>
octombrie 29, 2010
Oltchim (OLT RO) completed overhaul at petrochemical Arpechim.
Oltchim Ramnicu Valcea (OLT) management announced it managed to complete the overhaul and repair work in order to restart the petrochemical plant in Pitesti that was acquired earlier this year and is expected to resume work in about a month. (Source: ZF) [...] >> mai mult >>
octombrie 29, 2010
For the first three quarters Erste recorded an operating profit of EUR3,028m (+9.1% YOY) as net profit rose 2.3% up to EUR736.8m. Operating revenues grew 4.3% to EUR5,900m as operating expenses fell 0.3% to EUR2,871m. Net interest income advaneced 6.1% to EUR4,075m due to a net interest margin [...] >> mai mult >>
octombrie 29, 2010
Socep (SOCP RO) net profit dropped 30% in the first nine months.
SOCP announced 9M results with net sales at RON31.2m (-10% YOY), operating income fell 8.38% as operating expenses were reduced by 10% at RON32.86m. The company recorded an operating profit of RON0.35m against a loss of 0.25m the same period last year, while the financial profit dropped 22.6% to [...] >> mai mult >>
octombrie 29, 2010
Turbomecanica recorded flat net sales at RON39m while operating cost was reduced by 14% to RON41.29m. Operating income also fell by 14%, which lead to an operating profit lower by 13% at RON0.28m as the financial loss deepened 32% down to RON6.6m. (Source: BSE) [...] >> mai mult >>
octombrie 28, 2010
Government survives no-confidence vote over economi austerity measures.
The cabinet of PM Emil Boc survived a no-confidence vote over economic austerity measures, which include serious spending cuts and tax hike, aimed at moderating the budget deficit. The opposition's no-confidence motion gained the insufficient support of 219 out of the 471 MPs in the joint chambers. [...] >> mai mult >>
octombrie 28, 2010
EUR3.7bn in overdue loans at the end of September.
Individuals and companies had RON15.7bn in past due installments, with the pace of overdue loans rising against preceding months amid growing problems with foreign-currency loans. The share of overdue installments in the overall volume of loans climbed to 7.5% in September, almost double [...] >> mai mult >>
octombrie 28, 2010
Banca Transilvania's profit climbs 44% in the first nine months.
Banca Transilvania (TLV), posted a net profit of RON69.7m in the first nine months of the year, 44% higher than in the similar period of last year. The bank's operating revenues amounted to RON1.104 bn, up 17%. At the end of September, the bank had a volume of loans of RON13.173bn, up 8% [...] >> mai mult >>
octombrie 28, 2010
Romcarbon wants to decrease its share capital by 5%.
ROCE proposes its shareholders a buyback of 5% of the shares available to reduce the share capital. Thus, the maximum number of shares to be acquired is 13.2 million at a price between 0.2 and 0.35 RON. The maximum period for redemption is 18 months from the publication of the decision in [...] >> mai mult >>
octombrie 27, 2010
Today MPs vote to topple the government.
The opposition filed the no-confidence motion against the cabinet of Prime Minister Emil Boc over economic austerity measures, which include serious spending cuts and tax hike, aimed at moderating the budget deficit. If the no-confidence motion succeeds, President Traian Basescu will have to suggest [...] >> mai mult >>
octombrie 27, 2010
Trade unions to stage protests in Bucharest.
Some 80,000 trade union members are expected to join a national street protest in Bucharest today against the government’s fiscal austerity policy, enforced in July, according to trade union estimates. The protests will take place in front of the government and the parliament, where MPs are [...] >> mai mult >>
octombrie 27, 2010
SIF Banat-Crisana (SIF1) profit fell 61% in Q3.
SIF Banat-Crisana (SIF1) recorded a net profit of RON44.37m (EUR10.42m) in Q310, down 61% from the RON112.87m Q309 net profit. Revenues were halved, reaching RON80.41m, while costs declined by 33% to RON34.62m. For 2010, the company predicts profit halving to RON50.7m. (Source: Wall-Street.ro) [...] >> mai mult >>
octombrie 27, 2010
Imotrust Arad (ARCV) recorded a nine months net profit of RON13m.
Real estate developer Imotrust Arad (ARCV) recorded nine months operating revenues of RON110.8m compared to RON10.8m the same period in 2009, and recorded a net profit of RON13m against a loss of RON11.7m in 2009. Total expenses have increased from RON22.6m in January-September 2009 to RON97.8m in [...] >> mai mult >>
octombrie 27, 2010
General manager Adrian Baicusi resigned from Transelectrica (TEL).
Adrian Baicusi signed his resignation on Tuesday with effect from 15 November. According to sources in the energy market, Minister of Economy, Ion Ariton, approved the resignation of Baicusi and his position may be taken by Stelian Gal, former manager until January 2009. (Source: Mediafax) [...] >> mai mult >>
octombrie 26, 2010
Consolidated general budget for the first nine months of this year ended with an estimated deficit of RON23.3bn, below the target deficit of RON28.2bn provided in the stand - by arrangement with the International Monetary Fund, announced on Monday the Finance Ministry. (Source: NewsIn) [...] >> mai mult >>
octombrie 26, 2010
Franks: Romania may get new IMF loan installment by year end.
Romania could receive by the end of 2010 a new tranche from IMF, money that will go into NBR reserve, said the IMF mission chief in Romania, Jeffrey Franks. IMF board will decide in the second half of December whether Romania will receive a new installment of the loan agreement, based on the [...] >> mai mult >>
octombrie 26, 2010
Household deposits dropped 0.5% in September.
Household RON deposits fell 0.5% in September, a similar pattern being shown by data regarding customers and FX deposits. According to NBR data, total deposits maintained a 0.3% monthly advance, supported by corporate customers. (Source: ZF) [...] >> mai mult >>
octombrie 26, 2010
Non-government credit grew by 0.1% in September compared to August, to RON207.93bn.
According to NBR data, non-government loans granted by credit institutions advanced 4.5% in September compared with the same month last year and 0.1% from August, up to RON 207.93bn due to the advance in foreign currency loans for companies. (Source: ZF) [...] >> mai mult >>
octombrie 26, 2010
Two investment funds are interested in Oltchim (OLT) privatization.
According to the State Secretary in the Ministry of Economy, Karoly Borbely, two investment funds, including one American, are interested to in Oltchim Ramnicu-Valcea (OLT) as the State plans to sell a majority stake. Talks last week between representatives of the Ministries of Economy and [...] >> mai mult >>
octombrie 25, 2010
ZEW economic sentiment indicator deteriorates in October.
ZEW-Erste Group economic sentiment indicator, which covers central and east European countries, reflects the assessment of the financial market experts for the economic development for the next six months. For Romania, it continued to deteriorate in October decreasing to 14 points from 21.3 in [...] >> mai mult >>
octombrie 25, 2010
Perla Covasnei (PELA) wants admission to trading on the BSE regulated market
According to a press release issued by the company, beverage producer Perla Covasnei (PELA) will propose its shareholders the transfer from Rasdaq to the regulated market of Bucharest Stock Exchange. (Source: BSE) [...] >> mai mult >>
octombrie 22, 2010
Romania will draft another grant agreement with the European Commission, similar to the current one.
According to the IMF representative in Romania, Mihai Tanasescu, Romania’s potential new financing agreement with the International Monetary Fund will also include a loan accord with the European Commission, similar to the one signed in 2009. (Source: Mediafax) [...] >> mai mult >>
octombrie 22, 2010
Fitch: Banks in Romania, Hungary and Bulgaria are the most vulnerable region to a new crisis.
According to Fitch rating agency, banks in Romania, Hungary and Bulgaria are the most vulnerable in Eastern Europe to a new crisis, as the volume of nonperforming loans remains high and slow economic advance limits lending resumption. The agency also states that even though Eastern Europe is [...] >> mai mult >>
octombrie 22, 2010
IMF asks for Oltchim and Cuprumin to be privatised under the new arrangement.
According to talks held on Thursday between representatives of Economy and Finance Ministries and those of the International Monetary Fund targeted, among other things, the start of the process to turn Oltchim (OLT) and Cuprumin in private companies, alongside other projects to sell shares [...] >> mai mult >>
octombrie 21, 2010
Treasury reportedly to issue EUR 1.4bn bond on local market.
The Treasury might issue a EUR1.4bn euro-denominated bond on the local market to re-finance the similar issue, placed a year ago, which substituted the IMF disbursements, postponed amid political turmoil. The tight rolling-over of the domestic public debt at decreasing maturities put a supplementary [...] >> mai mult >>
octombrie 21, 2010
Chamber of Deputies lowered the VAT tax for basic food items to 5% by mistake.
The legislative initiative on the application of a 5% VAT to basic food items aims to maintain price levels in foods such as bread, meat, milk, vegetable oil and sugar. The centre-right ruling coalition endorsed a preferential 5% VAT rate on staple foods and waived the income tax for pensions below [...] >> mai mult >>
octombrie 20, 2010
Economy Ministry: Gas prices should not go up this winter.
According to a statement made by Ion Ariton in a press conference gas price should not rise this winter, nor for people neither for companies. He added that he will discuss with the PM on Wednesday the possible extension of the law that offers a number of chemical companies only gas from domestic [...] >> mai mult >>
octombrie 20, 2010
Employees of Amonil Slobozia (AMO) leave.
Chemical fertilisers producer Amonil Slobozia (AMO) risks to lose its business and employees, as well, after having lost its main assets last year. The company management announced on Monday that a significant number of employees had terminated their labour contracts and would become employed at [...] >> mai mult >>
octombrie 20, 2010
TTS resumed acquisitions in Socep (SOCP).
Transport Trade Services (TTS) Group, acquired on Tuesday a stake of 634.000 shares in Socep Constanta (SOCP), worth of RON 231,000. TTS Socep became shareholder in September, after it bought the 10% stake owned by SIF Oltenia (SIF5), worth of EUR3.2m. (Source: ZF) [...] >> mai mult >>
octombrie 19, 2010
Romanian opposition submits no-confidence motion in Parliament.
Romania’s opposition social democrats, liberals and conservatives have submitted a no-confidence motion in Parliament on Monday, in a bid to overthrow the coalition government of democrat liberals and the Hungarian minority party. According to the Romanian Constitution, the no-confidence [...] >> mai mult >>
octombrie 19, 2010
EBRD delegation visits Romania for consultation meetings.
According to a bank statement issued on Monday, a delegation comprising several members of the European Bank of Development and Reconstruction's Board of Directors is visiting Romania between October 17 and October 19, as part of a regular series of consultations. (Source: Mediafax) [...] >> mai mult >>
octombrie 19, 2010
Ciurezu, SIF Oltenia (SIF5): We're waiting to buy cheaper.
SIF Oltenia (SIF5) has continued to clean up its portfolio, selling stakes worth above RON80m (EUR19m) since the start of the year, but the SIF's management believes it is in no rush to operate new investments. According to Tudor Ciurezu, vice-president of SIF5, the company holds several tens of [...] >> mai mult >>
octombrie 19, 2010
Dafora (DAFR) and Romgaz signed an agreement for execution of drilling wells, in worth of RON52.1m.
Dafora (DAFR) and Romgaz signed an agreement for execution of drilling wells, in worth of RON52.1m. (Source: BSE) >> mai mult >>
octombrie 19, 2010
Titan SA (MPN) expects its business to increase by over 15% in 2011 to EUR70m.
According to Stephnos Krommydas, General Manager of Titan SA, company member of the Austrian LLI Euromills, MPN estimates a EUR60m turnover for 2010, while for 2011 he foresees a 15% increase up to EUR70m. (Source: NewsIn) [...] >> mai mult >>
octombrie 18, 2010
IMF expert team arrives on Wednesday for a new review of the stand-by agreement.
IMF experts are expected to arrive on the 20th of October to carry out a new quarterly agreement under the two-year stand-by agreement started last spring as well as for preliminary talks on a new arrangement. President Traian Basescu has advocated over the weekend for a new agreement with the fund, [...] >> mai mult >>
octombrie 18, 2010
SIF Moldova (SIF2) profit climbed to RON94m by end of September.
SIF Moldova (SIF2) reported a net profit of RON94m (EUR22m) at the end of September, close to the reported net profit for 2009 of RON101m (EUR23.8m). The investment firm was the most active in the market this year, selling large stakes held in BRD to purchase shares in TLV and Fondul Proprietatea [...] >> mai mult >>
octombrie 15, 2010
Vimetco General Manager sees for Alro a triple processed aluminum output over the next five years.
According to Frank Mueller, general manager of Vimetco, the aluminium producer Alro Slatina (ALR) plans to increase the aluminum production process, with high added value over the next five years, from 40,000 tones to 120,000 tones per year. (Source: ZF) [...] >> mai mult >>
octombrie 15, 2010
SIF Oltenia (SIF5) acquired a 7.2% stake in Prodplast Imobiliare, worth of about EUR1.4m.
SIF Oltenia (SIF5) acquired a 7.2% stake in Prodplast Imobiliare, worth of about EUR1.4m (Source: ZF) >> mai mult >>
octombrie 15, 2010
Cemacon (CEON) management proposes a new share capital increase.
The board of CEMACON Zalau (CEON) proposes its shareholders a capital increase with RON4.88m by cash contribution, although in September a similar operation was rejected. In the SGA in November, shareholders will discuss an increase from RON24.43m to RON29.32m. According to the convening notice [...] >> mai mult >>
octombrie 14, 2010
FDIs amounted to EUR 1,956m in the first eight months of 2010, down 35.95% YOY, financing 48% of the CA gap; FDIs were carried under the form of equity subscription (EUR1273m) and intra-group loans (EUR683m). (Source: National Bank of Romania) [...] >> mai mult >>
octombrie 14, 2010
Jan-July 2010 external debt stood at EUR87.762bn (up 9.29% YTD).
The medium and long-term debt rose to EUR70.62bn in the first eight months of 2010, up 7.48% compared to FY09, while the short term debt widened by 17.43% compared to FY09, to EUR17.14bn. (Source: National Bank of Romania) [...] >> mai mult >>
octombrie 14, 2010
Romanian President and OMV CEO discussed on Petrom’s capital hike.
Traian Basescu discussed on Wednesday with Wolfgang Ruttenstorfer, the chief executive officer and chairman of Austrian oil company OMV, about increasing the share capital of oil firm OMV Petrom (SNP). They also discussed the progress and evolution of Nabucco, both parties expressing support of the [...] >> mai mult >>
octombrie 13, 2010
Altur Slatina (ALT) acquired 1.1m shares in SIF Muntenia (SIF4).
Altur (ALT) acquired on Monday 1.1m shares in SIF4, representing a stake of 0.13%, in worth of RON730,000. (Source: ZF) >> mai mult >>
octombrie 13, 2010
European Court of Human Rights (ECHR): Romania has 18 months to foreclose property restitution.
On the 12th of October, the European Court of Human Rights triggered the first pilot procedure against Romania, in two cases concerning the Romanian system of property restitution which offered Fondul Proprietatea shares instead of monetary compensation. The trial of the pilot decision, all the [...] >> mai mult >>
octombrie 12, 2010
August 2010 FOB trade deficit shrank by 35% YOY.
FOB-CIF August trade deficit was EUR150.2m lower than August 2009, while YTD the trade deficit FOB-CIF was EUR6.09bn, only 13.6% higher to the EUR5.36bn in the first eight months of 2009. Imports 13.7% YOY (in EUR terms), decelerating from a 18.2% YOY increase in July, while exports grew by 14.4% [...] >> mai mult >>
octombrie 12, 2010
Exports advanced 25% YOY in August.
The exports increased to EUR2.76bn in August, 4% above the exports in August 2008 – the year when the economic expansion reached the climax after almost a decade of expansion. The exports remained for the third consecutive month above those in respective months of the base year 2008 [...] >> mai mult >>
octombrie 12, 2010
September CPI up 7.8% YOY on higher food prices.
Inflation increased slightly to 7.8% in September from 7.7% YOY one year earlier, in the third month after the VAT rate was hiked to 24% pushing up consumer prices. The rise is due to foods - up 0.82% MOM in September while on annual basis they increased by 4.8% (against 3.8% YOY previous month). [...] >> mai mult >>
octombrie 12, 2010
Public debt rose to RON178bn in the first seven months on higher forex borrowing.
According to the Finance Ministry data, the country’s public debt increased by 28% YOY to RON 178bn (EUR42bn), driven by the 71% YOY increase in the forex-denominated debt, due to forex borrowing on the local market and the tranches disbursed by the EC. (Source: Finance Ministry) [...] >> mai mult >>
octombrie 12, 2010
Bad loans hit 18.6% of banks exposure.
The stock of bad loans, namely doubtful and loss loans late by over 60 days, increased by 56% YOY to RON37.8bn (EUR8.9bn) at the end of July, while their share in the total banks’ exposure rose to 18.6% from 17.8% a month earlier and 12.6% a year earlier. The stock of provisions reached 10.4% [...] >> mai mult >>
octombrie 11, 2010
Oltchim (OLT) withdraws: BCR has not yet decided if it becomes shareholder.
According to a press release issued by the company, Oltchim reported that the second study conducted by Roland Berger Strategy Consultants is ongoing and that at this point, failing to meet prerequisites, BCR has not taken any decision on participation in the share capital of Oltchim. (Source: [...] >> mai mult >>
octombrie 11, 2010
Banca Comerciala Carpatica (BCC) shareholders must come up with EUR14.9m in capital.
BCC shareholders approved on Saturday a capital increase in cash by RON63.5m (EUR14.9m) and elected two new members of the Supervisory Board. Shareholders will be able to subscribe 22.76 new shares for every 100 shares held. (Source: ZF) [...] >> mai mult >>
octombrie 11, 2010
BSE proposed Artego Tg. Jiu (ARTE) the admission to trading on the BSE regulated market.
According to a press release issued by the company, BSE proposed the transfer from Rasdaq to the regulated market. Therefore, shareholders will vote on the 11th of November weather in favour of the transfer and the admission to trading on the BSE regulated market. (Source: BSE) [...] >> mai mult >>
octombrie 8, 2010
Roibu, Oltchim (OLT): BCR decided to become a shareholder in the company.
Constantin Roibu, general manager of Oltchim Ramnicu Valcea (OLT) has announced that the largest bank in Romania, BCR, wants to transform part of the receivables into OLT shares. (Source: BSE) >> mai mult >>
octombrie 8, 2010
According to the general manager of KMG, Kairgeldi Kabildin, KazMunaiGaz Group (KMG) intends to reach an agreement with the Romanian authorities until the end of the year regarding the debt of RRC. (Source: Mediafax) >> mai mult >>
octombrie 8, 2010
Impact (IMP) appeal against insolvency will be tried in April 2011.
According to a press release issued by BSE, Impact Developer & Contractor (IMP) announced on Thursday that the appeal against the decision to open insolvency proceedings will be tried by the Bucharest Court in 2011. (Source: Wall-Street.ro) [...] >> mai mult >>
octombrie 7, 2010
The unemployment rate fell to 7.35% in September.
The unemployment rate fell to 7.35% in September, compared to 7.39% in August, with currently recording a total of 670,247 unemployed. The decrease in unemployment during recent months is surprising, considering the authorities have to layoff 90,000 people by the end of the year. (Source: ZF) [...] >> mai mult >>
octombrie 7, 2010
Romania’s Jan-Aug industrial production rose 4.1%.
Industrial output, seasonally and working-day adjusted terms, advanced in the first seven months 4.1% whilst gross series data stood at 5.3%. Industrial production, seasonally and working-day adjusted terms, rose 4.9% YOY, while in August alone, it rose 0.1% from the previous month, INS said in a [...] >> mai mult >>
octombrie 7, 2010
IMF expects for Romania an 1.5% economic growth in 2011, the lowest in the region.
According to a report published on Wednesday by the International Monetary Fund (IMF), Romania will record an economic loss of 1.9% this year, the highest among emerging countries in Central and Eastern Europe, while in 2011 it will record the weakest growth in the region, of 1.5% (Source: [...] >> mai mult >>
octombrie 7, 2010
Antibiotice Iasi (ATB) convenes SGA to increase its share capital.
ATB convenes Extraordinary SGA on the 12th of November 2010 for shareholders to approve a share capital increase of RON2.27m up to RON47.76m through capitalization of 2009 dividends. New shares will be allocated based on a 0.050031 rate. (Source: BSE) [...] >> mai mult >>
octombrie 7, 2010
Azomures Tg. Mures (AZO) takes loans worth of USD85m for modernization and capacity expansion.
According to a press release issued by BSE, company’s management has an investment plan worth of USD115m in order to upgrade the plant, to increase the ammonia production capacity from 900 tons of urea per day to 1,425 tons, also aiming the reduction of the energy consumption. (Source: BSE) [...] >> mai mult >>
octombrie 7, 2010
Alro Slatina (ALR) reduced its profit target for 2010 by 42% to USD31m.
Alro Slatina (ALR), controlled by Vimetco group, corrected the budget for this year, estimating a net profit of USD31.4m, 42% lower than the previously budgeted of USD56.6m. The company also lowered the turnover from USD580m to USD536m following a drop in its estimates for aluminum [...] >> mai mult >>
octombrie 7, 2010
Condmag Brasov (COMI) convenes SGA to increase its share capital.
COMI convenes Extraordinary SGA on the 8th of November 2010 for shareholders to approve a share capital increase of RON15.3m by issuing a number of 153,150,211 new shares with a face value of 0.1 RON/share at a subscription price of 0.1 RON/share at a rate of two new shares for 3 old shares. [...] >> mai mult >>
octombrie 7, 2010
Retrasib Sibiu (RTRA) wants admission to trading on the BSE regulated market.
According to a press release issued by BSE, company’s BoD approved the admission to trading on the BSE regulated market Tier II. In the past 12 months, Retrasib shares were subject to 660 transactions with a total of RON1.94m. The company recorded a H1 profit of RON2.98m, four times higher [...] >> mai mult >>
octombrie 5, 2010
PPI rose 6.7% YOY in August (up 0.4% MOM).
According to NSI, producer price index increased YOY by 6.7% in August advancing from a 6.9% YOY advance in July. August’s evolution was backed by the 8.6% YOY increase in energy goods prices (down 0.3% MOM), and by the 7.6% increase in manufacturing sector (up 0.6% MOM). (Source: NSI) [...] >> mai mult >>
octombrie 5, 2010
Romania sells RON909m 6-months T-Bills at 7% average yield.
Romania’s Finance Ministry sold on Monday six-month treasury bills in worth of RON909.5m, slightly below the planned amount, at an average yield of 7% on the year. (Source: Mediafax) [...] >> mai mult >>
octombrie 5, 2010
Romanian Mechel Targoviste (COS) wants to lend EUR30m from Raiffeisen.
According to a company statement, the managing board of Romanian steel maker Mechel Targoviste (COS) approved on Monday the plans to take out two loans, in worth of EUR15m each, from Raiffeisen Bank. (Source: Mediafax) [...] >> mai mult >>
octombrie 4, 2010
The foreign currency reserves of BNR stood in September at EUR32.579bn from EUR31.554nn in August.
The foreign currency reserves of the National Bank (BNR) have increased by EUR1.025bn to EUR32.579bn at the end of September, following inflows of EUR2,570m representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public [...] >> mai mult >>
octombrie 4, 2010
ELMA convenes Extraordinary SGA on the 4th of November 2010 for shareholders to approve a share capital increase of RON33.8m up to RON67.6m and also to approve the admission to trading on the BSE regulated market and to approve in principle the merger between Electromagnetica SA and Procetel SA. The [...] >> mai mult >>
octombrie 4, 2010
Oil Terminal (OIL) signed a EUR2.5m contract with a German company.
According to a press release issued by BSE, Oil Terminal (OIL) has signed a service and shipment agreement in worth of EUR2.5m with the German company SET Select EnergyGmbh. (Source: Wall-Street) >> mai mult >>
octombrie 4, 2010
Kazakhs now want the state's stake in Petromidia.
The Kazakh shareholders in Rompetrol group are willing to negotiate with the Romanian state on the repurchase of the 44.6% stake in Rompetrol Rafinare (RRC) they ceded to the state last week as payment for the 517m-euro debts unsettled by September 30. (Source: ZF) [...] >> mai mult >>
octombrie 4, 2010
FP starts paying dividends in a week.
Fondul Proprietatea will begin Monday, on October 11th, the distribution of dividends worth of RON1.1bn. All shareholders registered on the 27th of September will receive a gross dividend of 0.0816 RON for each share owned. For individuals, the net dividend is of 0.0685 RON/share, after the 16% [...] >> mai mult >>
octombrie 1, 2010
State becomes again shareholder in Rompetrol Rafinare, ten years after the privatization.
The Romanian authorities became on Thursday shareholder in oil refinery Rompetrol Rafinare (RRC) for the second time, with a stake of 44.69% while Rompetrol Group was left with a 42.5% stake, after the latter failed to redeem in cash a RON2.3bn convertible hybrid held by the government. (Source: [...] >> mai mult >>
octombrie 1, 2010
Fercala has radically changed SIF3 strategy in just six months.
SIF Transilvania (SIF3), the largest of the five SIFs, has changed its investment strategy from "total restructuring and portfolio liquidation" announced early this year in the strategy for 2010-2011, to "wealth conservation" applied in recent months. Management motivated the change due to the [...] >> mai mult >>
septembrie 30, 2010
NBR keeps key rate unchanged at 6.25%.
Romania's central bank decided on Wednesday to keep its monetary policy rate unchanged in a bid to firmly anchor inflation expectations, and also decided to maintain the current ratios of minimum reserves on both RON-denominated and foreign currency-denominated liabilities of Romanian banks. [...] >> mai mult >>
septembrie 30, 2010
NSI: building permits, down 12.9% YOY in the first eight months.
According to data published by NSI, in the first eight months the number of building permits issued dropped 12.9% over the same period of 2009, while in August the number was 0.4% up YOY and 9.5% up MOM. (Source: NSI) >> mai mult >>
septembrie 30, 2010
The Government decided to abolish the minimum tax from October 1.
According to Mediafax, the information was confirmed by Emil Boc, who said that starting with October companies will pay income tax after the general rule. (Source: ZF) >> mai mult >>
septembrie 30, 2010
Cemacon Zalau (CEON) aims to double its business after an investment worth of EUR28m.
Brick manufacturer CEON, intends to double its sales next year and take market leadership on ceramic blocks after completing an investment of EUR28m in a new factory which is said to have the largest production line in Eastern Europe. (Source: ZF) [...] >> mai mult >>
septembrie 30, 2010
SIF Transilvania (SIF3), another SIF investing in FP.
SIF3 reported the purchase of a stake in property fund worth RON28m, transaction completed on Monday, 27th of September, registration date for dividends. In the report issued to BSE on the stock market, the investment firm does not refer to the number of shares or the price. (Source: ZF) [...] >> mai mult >>
septembrie 29, 2010
Antibiotice (ATB) set to launch 80 products.
Antibiotice Iasi plans to launch around 80 products in 2010-2012. Ioan Nani, the company's general manager, says these launches could double the company's turnover over the next two or three years. Between 2007-2008 the company's business fell by 4.3% at a time when the pharmaceutical market [...] >> mai mult >>
septembrie 29, 2010
SIF Muntenia (SIF4) made the first steps towards listing on SIBEX.
SIF Muntenia (SIF4) representatives have formally started discussions with SIBEX management regarding the listing. (Source: EconomicTimes.ro) [...] >> mai mult >>
septembrie 28, 2010
Mediafax: Romania's Jan-Aug consolidated budget gap at 4.1% of the GDP.
According to the local news agency Mediafax, Romania had a consolidated budget deficit of RON20.9bn (EUR4.9bn) in the first eight months of 2010, equivalent to 4.1% of the GDP projected for the current year. (Source: Mediafax)
[...] >> mai mult >>
septembrie 28, 2010
Banca Transilvania (TLV) launches preference shares in RON392m capital hike.
TLV announced on Monday that shareholders who want to contribute to the RON391.5m capital increase may buy preference shares on the Bucharest Stock Exchange between September 29 and October 19. The subscription period will begin on the 25th of October and will last for 30 days. Each shareholder will [...] >> mai mult >>
septembrie 28, 2010
SIF Moldova (SIF2) continues to buy shares in Fondul Proprietatea.
According to a press release issued by the company to BSE, SIF Moldova bought shares in FP on Friday in total worth of RON3.16m. The financial investment company also bought shares on the 20th of September, in August and May. (Source: Wall-Street.ro) [...] >> mai mult >>
septembrie 27, 2010
IMF granted Romania the sixth tranche of EUR884m.
IMF executive board completed the fifth review of Romania's under the agreement of external financing and provided the sixth installment of the loan, in worth of EUR884m. Thus, the amount received by Romania from the International Monetary Fund, through the stand-by agreement signed for two years, [...] >> mai mult >>
septembrie 27, 2010
Overdue payments on bank loans hit 6.9% of total loans at end-Aug.
The stock of overdue payments on bank loans increased by 128% YOY to EUR 3.37bn, representing 6.9% of the total stock of loans, at the end of August, according to the central bank data. The share of overdue payments was 6.5% one month earlier and 3.1% one year earlier. The payment discipline has [...] >> mai mult >>
septembrie 27, 2010
The stake owned by the Ministry of Finance in Fondul Proprietatea fell in August down to 44.7%.
The stake owned by the Ministry of Finance in Fondul Proprietatea fell in August down to 44.7%. (Source: Mediafax) >> mai mult >>
septembrie 24, 2010
Non-government loans up 4.5% YOY, up 0.5% MOM in August.
According to the Central Bank’s press release, the non-government loans granted by credit institutions increased 4.5% YOY in August, to RON207.6bn on the back of the 8.9% increase in foreign currency-denominated loans expressed in RON and the 2 percent decrease in RON-denominated loans, while [...] >> mai mult >>
septembrie 24, 2010
EU released a EUR1.15bn loan tranche to Romania.
The European Union announced on Thursday it has disbursed an EUR1.15bn loan tranche to Romania counting for the third instalment of a five billion euro loan, part of a wider bailout package led by the International Monetary Fund (IMF). (Source: SeeNews) [...] >> mai mult >>
septembrie 24, 2010
IMF board could decide on Friday the release of the sixth installment loan for Romania.
The IMF board will discuss on Friday the report regarding the latest assessment of the stand-by agreement with Romania, and decide over the release of the sixth installment loan, in worth of EUR900m. (Source: NewsIn) >> mai mult >>
septembrie 24, 2010
Vrancart Adjud (VNC) will borrow EUR17.2m.
VNC, a cardboard producer company, will take several loans in worth of EUR17.2m, secured by the company’s assets. The loans will be contracted to support investments worth of EUR22.9m to be made during 2010-2015, but also for other projects. (Source: Bursa) [...] >> mai mult >>
septembrie 24, 2010
The RON6.1m share capital increase of Cemacon Zalau (CEON) was not approved.
The shareholders of CEON did not approve the RON6.1m share capital increase from RON24.4m to RON30.5m, as 36.59% of the shareholders voted in favor (52.76% of votes), whereas 32.76% of the shareholders abstained (47.23% of votes). No shareholders voted against the share capital increase. (Source: [...] >> mai mult >>
septembrie 24, 2010
PricewaterhouseCoopers will determine the price of SNP at which shareholders may withdraw.
The Trade Registry appointed PricewaterhouseCoopers Management Consultants as independent expert to determine the price to be paid to Petrom shareholders who exercised their right of withdrawal, following the SGA decision on separation of the marketing activity. (Source: Mediafax) [...] >> mai mult >>
septembrie 23, 2010
Coface keeps Romania rating unchanged at 'B', the lowest in Central and Eastern Europe.
Coface kept in September Romania's country rating to "B", the lowest in Central and Eastern Europe, alongside that of Bulgaria, and foresees that the Romanian economy will record a modest increase from the second half of next year, after a decrease of 1.5% in 2010. (Source: Mediafax) [...] >> mai mult >>
septembrie 23, 2010
S & P downgraded Rompetrol to 'B' from 'B+', with negative outlook.
Standard & Poor's downgraded Rompetrol Group NV following the seizure set by Romanian authorities on the assets of the subsidiary Rompetrol (RRC). Relegation is due to country and growing political risks and the very weak operating performance. (Source: Mediafax) [...] >> mai mult >>
septembrie 23, 2010
Petrom – Hunt Oil Company of Romania partnership for onshore exploration in Romania.
Petrom and Hunt Oil Company of Romania, an affiliate of the American company Hunt Oil, embarked on a partnership that facilitates joint exploration of the onshore blocks Adjud and Urziceni Est, located in Eastern Romania. (Source: BSE) [...] >> mai mult >>
septembrie 22, 2010
European Commission (EC) stopped the excessive deficit procedure for Romania.
EC stated on Tuesday that the implementation of additional measures to strengthen the annual budget representing 5% of GDP (including 25% reduction in public sector salaries, 15% reduction of benefits except for pensions and the increased of VAT from 19% to 24%) brought Romania back on track, [...] >> mai mult >>
septembrie 22, 2010
VES Sighisoara (VESY) raised its capital by half the amount proposed.
According to a statement issued by the company to BSE, VESY share capital will increase by RON1.7m up to RON11.8m after shareholders have signed up only half of the total shares on sale, during an operation to increase capital by RON3.5m, said in a statement issued Exchange. (Source: Wall-Street.ro) [...] >> mai mult >>
septembrie 21, 2010
The Central Depositary launched the OTC system.
The Central Depositary approved on Monday the OTC Trading System (over the counter) for shares of all companies listed on BSE, a risk management system that aims for global accounts and market-maker activity. (Sursa: Mediafax) [...] >> mai mult >>
septembrie 21, 2010
SIF Transilvania did not managed to sell the 10% stake in Siretul Pascani (SRT).
The secondary sale offer conducted by SIF3 in SRT, through which the investment firm intends to liquidate its 10.78% stake, ended unsuccessfully. The offer took place between April 21 - September 15 and the price was of 0.185RON per share, 4.6 times higher than the last price before the [...] >> mai mult >>
septembrie 21, 2010
Rompetrol Rafinare and Rompetrol Petrochemicals, member companies of the Rompetrol group, will stop work between the 20th of September – 1st of November for scheduled overhaul. (Source: NewsIn) [...] >> mai mult >>
septembrie 21, 2010
Start of rush for Fondul Proprietatea dividends.
Investors have been caught in the rush of FP dividends in worth of over RON1.1bn as there is less than one week left until 27th of September, the shareholder registration cut-off date. (Source: ZF) >> mai mult >>
septembrie 20, 2010
EIU: Romania's economy will grow 3.4% in 2011, after a 1.2% contraction this year.
According to a report published by The Economist Intelligence Unit (EIU), the growth will accelerate during 2012 - 2014, boosted by increasing domestic demand and exports. EIU estimates a 7% of GDP budget deficit in 2010, 5% of GDP in 2011, which will decrease to 3.8% of GDP in 2012, while [...] >> mai mult >>
septembrie 20, 2010
Romanian construction sector recorded the largest monthly decline in EU in July.
According to data published on Friday by Eurostat, Romania's construction sector activity fell in July 28.3% against June, the largest monthly decline in the EU, while the euro area recorded a decrease of 3.1% and the EU had a 2.5% drop. (Source: NewsIn) [...] >> mai mult >>
septembrie 20, 2010
EBRD: Growth of Eastern European countries will remain low in the following quarters.
Growth rate of East European states will maintain a low level in the coming quarters amid a U.S. and euro area slowdown, said President of the European Bank for Reconstruction and Development (EBRD), Thomas Mirow. EBRD will not review the 3.5% growth forecast for 2010 for the 30 countries in Eastern [...] >> mai mult >>
septembrie 17, 2010
Romania ranked second in EU in terms of exports annual increase during the first semester.
According to Eurostat data, Romania ranked second in EU according to the annual increase in intra and extra EU exports in the first half, up 26% to EUR17.2bn while according to imports ranked fourth with an advance of 20% to EUR21.9bn. (Source: Mediafax) [...] >> mai mult >>
septembrie 17, 2010
Romania 6 months outlook dropped 4.8 points in September.
According to a ZEW/Erste survey published on Thursday, Romanian economic outlook index fell in September by 4.8 points down to 21.3 points, but is the second in size among the examined states in Central and Eastern Europe. Despite the slide in September, the country still remains one of the top [...] >> mai mult >>
septembrie 17, 2010
Fitch puts Rompetrol rating under surveillance because of ANAF seizure.
Fitch has placed under review for possible downgrading, the "B +" for long-term loans of Rompetrol group rating, following the National Authority for Fiscal Administration (ANAF) established seizure of assets. (Source: ZF) [...] >> mai mult >>
septembrie 17, 2010
SIF Oltenia (SIF5) recorded a profit of almost RON7m in August, largest among SIFs.
Following the sale of some stakes in its portfolio, SIF5 was the most profitable of SIFs in August, with a profit RON6.9m. The profit was recorded after the sale ELSID Titu and ELECTROCARBON stakes. According to Teodor Buzatu, manager of SIF5, the company wants to make exit from the companies [...] >> mai mult >>
septembrie 16, 2010
Romania's August annual inflation, highest in EU.
According to official data published on Wednesday, Romania posted the highest inflation in the European Union in August, while the EU average rate eased to 2%, from 2.1% in July. (Source: Mediafax) [...] >> mai mult >>
septembrie 16, 2010
Government to submit first three-year budget planning.
The government will submit to the Parliament the budget fiscal strategy for the next three years, document approved on Wednesday by the government. It estimates that the economy will grow by 1.5% in 2011, after two years of recession, which would advance to climb to 3.9% and 4.5% in 2012 and 2013. [...] >> mai mult >>
septembrie 16, 2010
NSC rejects Rompetrol’s Complaint Over Delisting Procedures.
Romania’s Securities Commission (NSC) rejected on Tuesday a complaint filed by Dutch-based The Rompetrol Group against its decision to block delising procedures for oil refinery Rompetrol Rafinare (RRC). (Source: Mediafax) [...] >> mai mult >>
septembrie 16, 2010
Rompetrol negotiates fuel-for-debt programme with government.
RRC reportedly proposed the government fuel deliveries to compensate the remaining EUR517m debt as a solution to the deadlock reached in the negotiations. The offer comes at a time when Rompetrol has already paid in cash EUR54mn to preserve its majority stake upon a would-be conversion of the bonds [...] >> mai mult >>
septembrie 15, 2010
Romania's August unemployment rate edged down to 7.39%.
According to the government's employment agency, ANOFM, unemployment rate fell from 7.43% down to 7.39% in August. (Source: ANOFM) [...] >> mai mult >>
septembrie 15, 2010
Industrial output in Romania recorded in July was one of the most weak in EU.
With an annual advance of 3.9%, well below the 7.1% recorded by the euro zone and the 6.8% in the EU, Romania’s industrial output was the weakest in the European Union in July. On MOM basis, industrial output fell 0.8% in July compared to a flat evolution in EU and euro area. [...] >> mai mult >>
septembrie 15, 2010
Head of NSI sees growth in Q3 and W-shaped recession.
Vergil Voineagu, National Statistics Institute chairman, said the economy could get out of recession at the end of the third quarter, after a new increase in the GDP, but the last quarter might see decline, hence a W-shaped trend. Romania registered a slight increase in seasonally adjusted [...] >> mai mult >>
septembrie 15, 2010
RRC shareholders approved in principle to convert the bonds into shares.
According to a release issued to BSE, shareholders approved, in principle, to convert the bonds which were not redeemed by the state into shares, until the due date. In addition, they approved the pledging of assets to extend the maturity of a USD 720m loan taken from the majority shareholder, the [...] >> mai mult >>
septembrie 14, 2010
Authorities sold treasury bills with maturity of one year, three times less than the scheduled amount of RON1bn, refusing offers that exceeded the maximum yield determined by the institution of 7% per year. At the previous auction of such securities held on the 12th of August, the Ministry only [...] >> mai mult >>
septembrie 14, 2010
IMF team prepares new quarterly review of ongoing stand-by agreement.
An IMF expert team is visiting the government these days to prepare the new quarterly review of the stand-by agreement scheduled for October in Bucharest. This might be an ocasion to initiate preliminary talks on a new arrangement to start next year. (Source: IntelliNews) [...] >> mai mult >>
septembrie 14, 2010
Tax authority: If Rompetrol does not repay the debt in full, we'll resort to foreclosure.
Sorin Blejnar, chairman of the National Fiscal Administration Agency (ANAF), said that the Kazakhs at RRC opted to pay the EUR571m debt in cash when they made the first partial payment of EUR54m in August. He added that unless the company pays the rest of the debt, the Agency will move on to [...] >> mai mult >>
septembrie 14, 2010
BCR, valued by Erste at EUR2.6bn, less than half of the amount paid.
According to a share purchase offer to the minority shareholders other than the SIFs, Erste Bank (EBS) values BCR to EUR2.6bn. In 2005 Erste paid EUR3.75bn for 62% of BCR, the Bank being valued at an amount of EUR6bn. (Source: ZF) [...] >> mai mult >>
septembrie 13, 2010
FDIs amounted to EUR 1,909m in the first seven months of 2010, down 35.83% YOY, financing 50.3% of the CA gap; FDIs were carried under the form of equity subscription (EUR1329m) and intra-group loans (EUR580m). (Source: National Bank of Romania) [...] >> mai mult >>
septembrie 13, 2010
Jan-July 2010 external debt stood at EUR87.542bn (up 9% YTD).
The medium and long-term debt rose to EUR70.49bn in the first seven months of 2010, up 7.3% compared to FY09, while the short term debt widened by 16.76% compared to FY09, to EUR17.04bn. (Source: National Bank of Romania) [...] >> mai mult >>
septembrie 13, 2010
August Consumer Price Index rose 0.23% MOM and 7.58% YOY.
In annualized terms, the inflation was up 7.58% YOY from 7.14% in July, consequence of a monthly increase in prices of 0.23% in August, lower than the expected monthly increase of 0.4%. Although this is the highest annual inflation rate since August 2008 (8.02%), the jump from the previous [...] >> mai mult >>
septembrie 13, 2010
Fiscal authorities seized Rompetrol Rafinare (RRC) assets.
The National Fiscal Administration Agency (ANAF) has levied distress on land and equipment of RRC, which holds Petromidia refinery, as well as on stakes in company subsidiaries. The action targets the recovery of the EUR570m debts owed by Petromidia to the Finance Ministry. ANAF decision comes after [...] >> mai mult >>
septembrie 13, 2010
SIF Moldova (SIF2) meets this week with Franklin Templeton representatives in order to convince them to invest in SIF2 portfolio and also in SIF2 shares. (Source: EconomicTimes.ro) [...] >> mai mult >>
septembrie 10, 2010
July 2010 trade deficit jumped to EUR624.4m, up 13% YOY.
FOB-CIF July trade deficit was EUR72.3m higher than July 2009, while in the first seven months the trade deficit FOB-CIF was EUR5.36bn, 2.5% higher to the EUR5.23bn in H109. Imports 18.2% YOY (in EUR terms), decelerated from a 26.5% YOY increase in June, while exports grew by 19.2% YOY (in EUR [...] >> mai mult >>
septembrie 10, 2010
Political problems in Romania will not affect the rating of the country and will not reverse the reforms made by the Government under the credit agreement concluded with the International Monetary Fund (IMF), said Marko Mrsnik, S&P analyst, in an interview with Bloomberg. (Source: Mediafax) [...] >> mai mult >>
septembrie 10, 2010
Romanian pharmaceutical market sees highest quarterly growth in four years: 35% in Q2.
The pharmaceutical market is one of the few that continued to grow in 2009, together with private clinics and energy. In the second quarter of 2010, the market advanced by 35% against 2009, to RON2.5bn (EUR610m), according to Cegedim data, the best performance in four years. In the wake of [...] >> mai mult >>
septembrie 10, 2010
Transelectrica (TEL) will list a 15% stake.
According to Razvan Purdila, Corporate Strategy Director of Transelectrica, a stake of 15% in state-owned energy carrier Transelectrica (TEL) will be listed on the Bucharest Stock Exchange in 2011. Procedures will be started in 2011. (Source: Wall-Street.ro) [...] >> mai mult >>
septembrie 9, 2010
Romania’s Jan-July industrial production rose 4%.
Industrial output, seasonally and working-day adjusted terms, advanced in the first seven months 4% whilst gross series data rose 5.3%. Industrial production, seasonally and working-day adjusted terms, rose 2.3% YOY, while in July alone, it fell 0.8% from the previous month and was up 2.3% on the [...] >> mai mult >>
septembrie 9, 2010
Turnover in trade and services dropped 13.6% YOY in the first seven months.
In July 2010, the turnover in trade and services declined, both in gross series and series adjusted for the number of working days and seasonality, by 21.1% and 12%, respectively, MOM, while YOY it declined 14% (gross series) and 6.7% (adjusted series), respectively. (Source: NSI) [...] >> mai mult >>
septembrie 9, 2010
Albalact (ALBZ) shareholders approved the merger with Raraul.
Following the SGA held on Tuesday, the company announced that shareholders of the dairy producer Albalact Oiejdea (ALBZ) approved in principle the merger with Raraul, the dairy producer in Campulung Moldovenesc where it holds a stake of 93.6%. Albalact paid in 2008 about EUR3.5m for Raraul in [...] >> mai mult >>
septembrie 9, 2010
Prospectiuni (PRSN) signed a EUR5m contract in Portugal.
Geological exploration company, Prospectiuni Bucuresti (PRSN), has signed a contract with Mohave Oil & Gas Corporation, for seismic data acquisition in Portugal, in worth of EUR5m. (Source: Wall-Street) [...] >> mai mult >>
septembrie 8, 2010
Construction volume dropped 25.4% YOY in July.
The volume of construction works, gross series, fell 25.4% YOY in July after the unexpected -3.1% YOY in June, according to the statistics office. New constructions dropped even lower, by 33.9% YOY. In seasonally adjusted terms, construction worls fell by 28.3% MOM, after the 24.9% MOM advance one [...] >> mai mult >>
septembrie 8, 2010
Overnight Deposits at NBR fell down to RON16bn in August.
According to the Central Bank data published on Tuesday, overnight deposits at Romania’s Central Bank reached a combined amount of RON15.99bn in August, down from RON35.3 billion parked a month earlier. (Source: Mediafax) [...] >> mai mult >>
septembrie 8, 2010
SIF Oltenia (SIF5) sold another stake in worth of RON2m.
SIF5 sold its minority shareholding of 31% owned in the hotel company Complex Confort in Alexandria in worth of RON2m (EUR0.465m). The investment company continues its strategy to sell the illiquid shares in the portfolio and focus instead on liquid securities on the exchange. [...] >> mai mult >>
septembrie 8, 2010
Marian Iancu considers the listing of FC Timisoara.
The Board Chairman of FC Timisoara, Marian Iancu, declared the club will consider listing on the Stock Exchange after regaining the honours list, a national and international legal recognition. (Source: Wall-Street.ro) [...] >> mai mult >>
septembrie 7, 2010
NBR: 12-months CPI rose in June 0.18% above March reading up to 4.38%.
Inflation remained within the variation band around the central target, standing 0.12 percentage points below its upper limit. For end-2010, the baseline scenario places the annual CPI inflation rate at 7.8 percent, 4.1 pp. higher than the level published in the May 2010. The increase is assumed to [...] >> mai mult >>
septembrie 7, 2010
Boc: Government starts talks over new IMF loan in October.
Boc Cabinet is getting ready to begin negotiations over a new loan with the IMF next month, which should ensure rollover of the installments of the almost EUR13bn current arrangement, which expires next spring. In 2011, Romania will have to finance an at least EUR6bn budget deficit if it [...] >> mai mult >>
septembrie 7, 2010
Fondul Proprietatea: a strong manager, dividend payment and listing.
FP shareholders meeting on Monday ended with approval of all items on the agenda, most of them approved with over 99% of votes, from the Franklin Templeton mandate, to the listing approval, the Representatives Commitee and dividends distribution for 2008 and 2009 in worth of RON1.12bn. They also [...] >> mai mult >>
septembrie 7, 2010
SIF Muntenia (SIF4) and Broker Cluj (BRK) requested Petrom (SNP) to buyback their stakes.
Several minority shareholders of Petrom, among which SIF4 and Broker Cluj (BRK) have submited requests to withdraw from the company through the repurchase of shares of investors which opposed to the separation of the marketing activity. (Source: ZF) [...] >> mai mult >>
septembrie 7, 2010
Transelectrica (TEL) recorded a H1 IFRS loss of RON67.29m.
With a loss of RON77.7m from the financial activity along with a RON9.99m gain originating from the operating activity, the company finished the first semester with a loss of RON67.29m against a RON43.21m loss last year. Operating revenues were down 0.8% whilst operating expenses advanced by 0.3% [...] >> mai mult >>
septembrie 6, 2010
Romanian retail sales down 6.5% MOM in July.
The decline recorded by retail sales in July comes from lower non-food items sales (-10.2%) and also lower food, beverage and tobacco sales (-6.8%), while on YOY basis, sales were down 8.9% due to a 12% decrease in food, beverage and tobacco sales as non-food items sales dropped 11.8%. (Source: NSI) [...] >> mai mult >>
septembrie 6, 2010
Romania - highest retail sales decline in EU in July.
According to Eurostat data, Romania recorded the highest MOM drop in retail sales in EU in July, of 6.5%, while in euro-zone retail sales fell by 0.1%. (Source: Mediafax) >> mai mult >>
septembrie 6, 2010
Today is taking place the SGA to validate and approve the new manager and the dividends Fondul Proprietatea will pay. According to data published on Friday by KPMG, the unit net asset value of FP was RON 1.0283 per share in August, 1.5% lower than the value of 1.0442 RON / share by the end of [...] >> mai mult >>
septembrie 6, 2010
Jeffrey Franks: IMF does not want further taxes increase in Romania in 2011.
Jeffrey Franks: IMF does not want further taxes increase in Romania in 2011. (Source: NewsIn) >> mai mult >>
septembrie 6, 2010
Petrom (SNP) sold its exploration assets in Rusia.
SNP sold its 74.9% stake held in Ring Oil to its minority shareholder Mineral and Bio Oil Fuels Limited (MBO) at a price and terms which have not been released. (Source: BSE) [...] >> mai mult >>
septembrie 3, 2010
Changes in Romanian Government: PM replaces 6 ministers.
Prime Minister, Emil Boc, fired the finance minister, labor minister, agriculture minister, transportation minister and communications minister, saying it was necessary to continue economic reforms. Also the economy Minister Adriean Videanu announced to quit the government. Six new names have been [...] >> mai mult >>
septembrie 3, 2010
Investments in the Romanian economy dropped 18.7% in the first semester.
According to NSI, investments in the Romanian economy fell to RON22.485bn (EUR5.3bn) in the first half of 2010, as investments in industry accounted for 38.2% of the total in H110, followed by the trade and services sector with a 36.6% share, while investments in [...] >> mai mult >>
septembrie 3, 2010
SIF Moldova (SIF2) started yesterday the dividend distribution.
SIF2 started on Thursday to pay dividends for 2009 and also for 2007 and 2008 through the Central Depository and the Romanian Post Office counters. The period in which shareholders can raise their dividends is September 1st – 31st of October, 2010. (Source:ZF) [...] >> mai mult >>
septembrie 2, 2010
Romania recorded a 0.3% QOQ GDP growth in Q2.
According to the preliminary seasonally adjusted data published by NSI, the Q2 GDP in current prices was RON124.55bn, as industry had the highest increase in volume of activity (+5.9%) while construction volume of activity declined 8.3%. On YOY basis, GDP dropped by 0.5%, rate lower than the 2.6% [...] >> mai mult >>
septembrie 2, 2010
The foreign currency reserves of BNR stood in August at EUR31.554bn from EUR31.58bn in July.
The foreign currency reserves of the National Bank (BNR) have decreased by EUR26m to EUR31.554bn at the end of August, following inflows of EUR733m representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public Finance [...] >> mai mult >>
septembrie 2, 2010
PPI rose 6.9% YOY in July (up 0.1% MOM).
According to NSI, producer price index increased YOY by 6.9% in July advancing from a 6.2% YOY advance in June. July’s evolution was backed by the 11% YOY increase in energy goods prices (down 0.4% MOM), and by the 8% increase in manufacturing sector (up 0.1% MOM). (Source: NSI) [...] >> mai mult >>
septembrie 2, 2010
Armax Gaz Medias (ARAX) net profit doubled in the first semester.
Manufacturer of equipment for oil and gas industry recorded in the first six months a net profit of RON 4.22m, while net sales rose 2.4 times up to RON 56,26m as total revenues increased 88% up to RON 68.4m and total expenses were up 86% to RON 63.3m. (Source: Wall-Street.ro) [...] >> mai mult >>
septembrie 1, 2010
Romania will issue RON4.6bn worth of government securities in September 2010.
According to the Finance Ministry, the Romanian authorities plan to issue EUR1.1bn of debt this month in order to refinance public debt and cover its budget deficit. The ministry will auction RON600m worth of benchmark T-notes, two auctions for 12-month Treasury bills worth RON1bn on 13th [...] >> mai mult >>
septembrie 1, 2010
Interest rate for euro-denominated loans hit in July the peak since August 2009.
According cu NBR data, the average interest rate for new euro-denominated loans granted to the population increased steadily in July up to 7.31%, maximum level after August 2009, while rates for loans granted for companies advanced slower. (Source: Mediafax) [...] >> mai mult >>
septembrie 1, 2010
Banca Comerciala Carpatica (BCC) will ask its shareholders for another EUR15m.
On the 9th of October Banca Carpatica will propose its shareholders a share capital increase in worth of EUR14.9m up to EUR80.5m so that the bank could better withstand macroeconomic shocks. If approved by the SGA, a number of 635m shares will be issued at a price of 0.1 RON/share, equal to the face [...] >> mai mult >>
august 31, 2010
SIF Moldova (SIF2) is working on 2011 investment strategy.
After having reached the profit level budgeted for the entire year during he first semester of 2010, SIF Moldova (SIF2) is already drafting its 2011 investment strategy. According to SIF2 chairman, Ceocea Costel, it is very important how the company will prepare for 2011, year expected to [...] >> mai mult >>
august 31, 2010
The economic sentiment improved in Romania from 75 points in July to 76.4 points in August.
According to a monthly survey conducted by the EC, the economic sentiment index improved in August due to better perception of the retail and construction and also among consumers, while industry remained pessimistic and trust in services area decreased. (Source: Mediafax)
[...] >> mai mult >>
august 31, 2010
It is official: 15% of Transgaz Medias (TGN) and Transelectrica (TEL) will be listed.
According to a decision published yesterday in the Official Gazette (Monitorul Oficial), the Romanian Government approved the sale of two stakes each representing 15% of the share capital in TGN and TEL through public offerings. (Source: Wall-Street.ro) [...] >> mai mult >>
august 30, 2010
Budget deficit reached 3.9% of GDP in Jan-July period.
According to the Public Finance Ministry’s press release, the consolidated budget deficit reached RON 20bn in the first seven months of the year, namely 3.9% of GDP, as total budget revenues increased by 1.2% YOY to RON 93.3bn at the end of July, while total expenses rose 3.2% YOY to RON [...] >> mai mult >>
august 30, 2010
Natural gas pipeline operator Transgaz subjected for approval on October 5th Shareholder’s Meeting a list of amendments regarding the easing of decision-taking procedures. (Source:Mediafax) [...] >> mai mult >>
august 27, 2010
SIF MOLDOVA Bacau (SIF2): SIF2 acquired RON4m worth of Property Fund shares.
According to a press release, SIF Moldova acquired yesterday RON4m worth of Property Fund shares, previously owning 80m shares. (Source: SIF Moldova, ZF) [...] >> mai mult >>
august 27, 2010
Ministry of Economy might start the floating procedure for a 15% stake in Romgaz.
The Ministry of Economy can start the floating procedures for Romgaz listing, as the Government Resolution regarding the IPO for selling a 15% stake in state-owned natural gas producer Romgaz Medias was published in the Official Gazette at the beginning of this week. According to market estimations, [...] >> mai mult >>
august 27, 2010
OMV Petrom shareholders that voted against the marketing activity spin-off can request to back out from the company, in which case OMV Petrom will make a price offer which will be sent to the National Securities Commission and to the Bucharest Stock Exchange Market. (Source: ZF) [...] >> mai mult >>
august 27, 2010
Raiffeisen C&I, ING and BRD Societe Generale to float Property Fund on the stock market.
Property Fund, with EUR 3bn worth of assets, has selected the consortium formed by Raiffeisen Capital & Investment, the Bucharest branch of ING Bank NV Amsterdam and BRD – Groupe Societe Generale to float its shares on the Bucharest Stock Exchange market. (Source: Fondul Proprietatea) [...] >> mai mult >>
august 25, 2010
Romania ranked third in EU on industrial new orders in June compared to May.
According to Eurostat, the euro area industrial new orders increased 2.5% MOM and rose 22.6% YOY in June, while Romania registered a 5.5% MOM hike in industrial new orders, and a 34.6% YOY increase. (Source: Economic Daily) [...] >> mai mult >>
august 25, 2010
Non-government loans up 4.4% YOY, down 1.9% MOM in July.
According to the Central Bank’s press release, the non-government loans granted by credit institutions increased 4.4% YOY in July, to RON206bn on the back of the 8.6% increase in foreign currency-denominated loans expressed in RON and the 1.7 percent decrease in RON-denominated loans, while [...] >> mai mult >>
august 24, 2010
The Ministry of Finance sold RON865m in 6M T-bills at an avg. yield of 7%.
The scheduled value of the auction worth RON800m was oversubscribed by 119%, thus the Ministry of Public Finance sold RON865m in 6-months treasury bills, at an average yield of 7%, flat compared to the previous similar auction. (Source: National Bank of Romania) [...] >> mai mult >>
august 24, 2010
Public debt down to RON177bn (34.6% of GDP) in June.
Romania’s public debt dropped by RON1.5bn in June compared to May, reaching 34.6% of GDP in June versus 34.9% of GDP in May, following less T-bills issued by the Ministry of Public Finance. (Source: Mediafax) [...] >> mai mult >>
august 24, 2010
ELECTROMAGNETICA Bucuresti (ELMA) H1’10 sales rose 16% YOY.
Electric equipments producer Electromagnetica recorded in the first semester sales worth RON232m against sales of RON200m in H1’09. Net profit increased by 25% YOY to RON16m, while total revenues rose 16% and expenses went up 15% YOY. (Source: Electromagnetica) [...] >> mai mult >>
august 23, 2010
Transgaz announced the acceptance procedure finalization for the 30 km high-pressure natural gas pipeline and for the gas metering stations, the investment value amounting to EUR 20m, paid by OMV Petrom for the grid-connection fee, as the gas metering station is located on the Brazi chemical [...] >> mai mult >>
august 20, 2010
Government set 2010 deficit target at 6.8% of the GDP.
In the first budget revision, the Romanian authorities set a new consolidated budget deficit target for this year under an IMF-prescribed budget revision based on a 1.9% economic contraction. Initially, the 2010 budget projected a deficit of 5.9% of GDP and 1.3% economic growth. [...] >> mai mult >>
august 20, 2010
Avicola Brasov (AVLE) shareholders approved the delisting despite NSC disapproval.
AVLE shareholders approved with 38% of the votes the delisting at a price of 3.03 RON/share, 44% higher than the last clossing price. Previously this month, the National Securities Commission decided AVLE shares cannot be delisted as Investors Association on the capital market pointed out that the [...] >> mai mult >>
august 19, 2010
Fondul Proprietatea was registered with the NSC.
FP was registered with the National Securities Commission as NON UCITS (AOPC), one of the requirements for the listing on the Stock Exchange. NSC opinion was issued on Wednesday, but will cease to have effect if, at the SGA in September, Franklin Templeton will not be approved as manager of the [...] >> mai mult >>
august 19, 2010
NSC revoked Arcelor’s bid for Comvex Constanta (CMVX) in worth of EUR42m.
The National Securities Commission annulled the decision made in 2008 regarding the approval of the bid for CMVX launched by ArcelorMittal, group that tries to take control of the port operator. This comes after the decision of the High Court of Cassation and Justice regarding to annulment of the [...] >> mai mult >>
august 19, 2010
Ropharma Brasov (IAFR) wants on BSE.
Ropharma will propose its shareholders in the SGA in September the transfer to the 1st category at BSE. The company’s management will also propose a share capital increase of RON16.5m up to RON29.1m, by issuing a number of 164.4 million shares with a face value of 0.1RON/share. (Source: [...] >> mai mult >>
august 19, 2010
Amonil Slobozia (AMO) to resume production.
Romanian chemical plant Amonil Slobozia (AMO), will resume production after Chemgas Holding Corporation agreed on Monday to restart the production facilities on the 16th of August for a monthly rent of RON0.55m. (Source: Wall-Street.ro) [...] >> mai mult >>
august 19, 2010
Electroputere Craiova (EPT) will dismiss 350 employees starting with the 1st of October.
Electroputere Craiova (EPT) will dismiss 350 employees starting with the 1st of October. (Source: ZF) >> mai mult >>
august 18, 2010
SIFs assets dropped 5% in July to RON7bn.
The aggregate value of SIFs net assets decreased in July for the third consecutive month, although the stock market returned to growth after the steep decline during April-June. The drop was influenced mainly by the means of UNAV calculation, SIFs using for the listed companies the average price of [...] >> mai mult >>
august 18, 2010
SIF Muntenia (SIF4) sold a 10% stake in COTA for RON2.92m.
SIF Muntenia sold on Tuesday a total of 650,000 shares held in Comat Auto SA Bucuresti (COTA), at a price of 4.5 RON/share, in total worth of RON2.92m. According to BSE, at 30th of June 2010, SIF4 held a 18.13% stake in COTA. (Source: BSE) [...] >> mai mult >>
august 18, 2010
Cemacon Zalau (CEON) H1 sales dropped 30% YOY.
Building materials producer Cemacon recorded in the first semester sales in worth of RON9.68m against sales of RON13.85m last year. Net profit dropped 47% to RON0.87m, while total revenues fell 14% down to RON13.95m and expenses were 9% lower YOY at RON13.07m. (Source: Wall-Street.ro) [...] >> mai mult >>
august 17, 2010
Romania’s July annual inflation rate, highest amid EU.
According to data published by Eurostat, with an annual inflation rate of 7.1% in July, Romania ranked first with a rate three times higher then EU countries average, followed closely by Greece (5.5%) and Hungary (3.6%). EU annual average inflation rate was 2.1% in July, up from 1.9% in June. [...] >> mai mult >>
august 17, 2010
Szel, SIF Muntenia (SIF4): We sell for cash.
President of SIF4, Petru Pavel Szel, said the company is selling as much as it can in order to get more cash. Lately, SIF4 sold several stakes held in BRD. (Source: EconomicTimes.ro) [...] >> mai mult >>
august 17, 2010
Oil Terminal Constanta (OIL) H1 net profit up six times, to RON2.7m.
The distributor of petroleum products reported for the first semester a slight decrease in sales down to RON61.07m (-6.5%), as total revenues dropped 8.4% to RON61.86m and total expenses fell 12.7% to RON58.25m. Operating profit surged from RON0.36m up to RON3.84m (+955%) while last year’s [...] >> mai mult >>
august 17, 2010
Boromir Prod Buzau (SPCU) - sales dropped 10% YOY to RON51.73m.
Operating revenues were down 20% at RON69.89m as operating expenses fell 21.3% from RON86.12m to RON67.76m. Therefore, the operating profit was 54% higher at RON2.12m while the company recorded a financial loss of RON0.73m against a profit of RON1.37m last year. SPCU net profit was down 66% YOY to [...] >> mai mult >>
august 16, 2010
First estimation: H1’10 GDP shrunk 1.5% YOY.
According to first estimations issued by NSI, Q2’10 GDP contracted by 0.5% YOY in gross series and by 0.6% in series adjusted for seasonality, while QOQ it dropped 0.3% in series adjusted for seasonality. (Source: NSI) [...] >> mai mult >>
august 16, 2010
Impact Developer & Contractor (IMP), H1 loss of RON7.42m against a net profit of RON2.04m in 2009.
IMP recorded an operating loss of RON2.13m against a RON4.39m profit last year, while the financial loss deepened down to RON5.27m against a loss of RON1.12m last year. H1 sales were lower at RON20.5m (-30% YOY), while total revenues were at RON23.16m against RON50.23m last year as total [...] >> mai mult >>
august 16, 2010
SIF Oltenia (SIF5) H1 net profit down to RON51.6m.
SIF5 reported a net profit 3.5 lower against a RON182.2m profit last year. Revenues were of RON86.42m, while expenses decreased from RON41.29m in 2009 down to RON32.78m in 2010. (Source: NewsIn) >> mai mult >>
august 16, 2010
Condmag Brasov (COMI) H1 net profit, three times lower.
COMI H1 net profit was of RON3.1m, against a RON11.29m profit last year. Revenues dropped 16% YOY during the first semester down to RON101m from RON120.32m, while sales decreased 17% YOY to RON99.04m. (Source: BSE) [...] >> mai mult >>
august 16, 2010
Azomures Tg. Mures (AZO) H1 net profit up 300% YOY.
With an operating profit of RON53.15m, 131% higher YOY, and a financial profit of RON25.14m against a financial loss of RON6.13m last year, AZO recorded a H1 net profit of RON68.85m up from a RON16.82m last year. (Source: BSE) [...] >> mai mult >>
august 12, 2010
July Consumer Price Index rose 2.58% MOM and 7.14% YOY.
In annualized terms, the inflation was up 7.14% YOY from 4.38% in June, consequence of a monthly increase in prices of 2.58% in July due to the VAT increase up to 24% which influenced services prices to rose 2.55% MOM, as food prices and non-food products prices were 1.92% and 3.08% higher MOM, [...] >> mai mult >>
august 12, 2010
Unemployment rate slightly down in July at 7.43%.
According to the National Agency for Employment, the unemployment rate in July decreased 0.01 percentage points MOM reaching 7.43%, versus 7.44% in June and 6.3% in July 2009. (Source: ANOFM) >> mai mult >>
august 12, 2010
FDIs amounted to EUR 1,838m in the first semester of 2010, down 28.97% YOY, financing 50.4% of the CA gap; FDIs were carried under the form of equity subscription (EUR1408m, up 2.18% YOY) and intra-group loans (EUR430m, down 64.5% YOY). (Source: National Bank of Romania) [...] >> mai mult >>
august 12, 2010
Jan-June 2010 external debt stood at EUR87.027bn (up 8.4% YTD).
The medium and long-term debt rose to EUR71.21bn in the first semester of 2010, up 8.4% compared to FY09, while the short term debt widened by 8.3% compared to FY09, to EUR15.81bn. (Source: National Bank of Romania) [...] >> mai mult >>
august 12, 2010
Dafora Medias (DAFR) net profit 6.7 times higher YOY in the first semester.
During the first six months of 2010 the company’s sales rose 20% YOY to RON91.5m, the operating profit was of RON17.9m up 150% while net profit was of RON7m, almost 6.5 times higher against H1 2009 net profit. Company's solvency and liquidity stood at comfortable levels, of 355 and120%, [...] >> mai mult >>
august 12, 2010
Rompetrol Rafinare Constanta (RRC), H1 sales up 24% to USD1.76m.
According to IFR results announced for the first semester of 2010, the company reported a negative EBITDA of USD24.7m while it recorded a net loss of USD119m. (Source: BSE) [...] >> mai mult >>
august 12, 2010
Rompetrol Well Services (PTR), H1 net profit down 30%.
PTR announced a net profit of RON5.63m in the first six months of 2010 against a H1 2009 net profit of RON7.99m, while sales slightly rose to RON35.09m as total revenues were up 3% to RON38m. (Source: Wall-Street.ro) [...] >> mai mult >>
august 11, 2010
Investor confidence index in Romania deteriorated during last three months.
According to a survey conducted by Reuters and OeKB Austria, the investor confidence index dropped down to 11 points in July from 18 points in April, against regional trend as in Central and Eastern Europe the index rose slightly from 21 to 23 points. Significantly better situations were reported in [...] >> mai mult >>
august 11, 2010
MEI Roemenie en Bulgarije reduced its exposure to SIFs.
According to its monthly bulletin, the Dutch investment fund MEI Roemenie en Bulgarije reduced its exposure to the five financial investment companies (SIF) from 16.47% in March down to 10.9% in late July. The fund has invested EUR1.91m in SIFs, while the largest investment is in Condmag (COMI), [...] >> mai mult >>
august 11, 2010
SIF Muntenia (SIF4) sold a 0.24% stake in TLV in worth of EUR0.93m.
SIF Muntenia has sold a number of 2.698.000 shares held in Banca Transilvania (TLV), in worth of RON3.97m. The stake was sold in several sessions at a medium price of 1.4729 RON/share. (Sursa: BSE) >> mai mult >>
august 10, 2010
Fitch Ratings confirmed Romania long-term debt rating and supported the stable rating outlook.
The rating agency confirmed Romania’s ratings for long-term debt in both foreign and local currency at 'BB +' and 'BBB-' with stable outlook, considering that the state will be able to find a way to a economic recovery based economic on exports. (Source: Mediafax) [...] >> mai mult >>
august 10, 2010
June 2010 trade deficit jumped to EUR889.5m, up 17.6% YOY.
FOB-CIF June trade deficit was EUR133.3m higher than June 2009, while in the first six months the trade deficit FOB-CIF was EUR4.7bn, only 0.5% higher to the EUR4.68bn in H109. Exports increased by 26.5% YOY (in EUR terms), decelerating from a 29.5% YOY increase in May, while imports grew by 26.5% [...] >> mai mult >>
august 10, 2010
Industrial production rose 1.9% MOM and 4.7% YOY in June.
In the first semester, industrial output in series adjusted for the number of working days and seasonality, surged 4.4%, while in unadjusted series ended up 5.6%. The adjusted series increased 1.9% in June compared to May, and 4.7% over the same month in 2009. In the unadjusted series, industrial [...] >> mai mult >>
august 9, 2010
NBR: June CPI inflation rate was 4.38%, up 0.18 pp above March reading.
With 0.12 percentage points below its upper limit, inflation remained within the variation band 4.4%-4.5%. In Q2 2010, the slight pick-up in the annual growth rate of consumer prices was mainly attributed to administered price dynamics and the domestic currency depreciation episode. The Central [...] >> mai mult >>
august 9, 2010
Construction volume dropped 16% in the first six months.
The volume of construction works, series adjusted depending on the number of working days and seasonality, decreased by 16% in the first six months of 2010 compared to same period the previous year, as new construction works declined by 26%. YOY, the volume of construction works, series adjusted [...] >> mai mult >>
august 9, 2010
Rompetrol Group requests NSC a USD50m compensation.
According to a communique issued on Friday by the company, Rompetrol Group claims for financial compensation on blocking the delisting of RRC. (Source: NewsIn) >> mai mult >>
august 9, 2010
SIF Muntenia sold BRD shares in worth of RON4.52m.
SIF Muntenia has sold 378,100 BRD shares at a medium price per share of 11.9639 RON, in total worth of about EUR1.06m. (Source: BSE)
[...] >> mai mult >>
august 6, 2010
Romania’s H1 industrial sales rose 10.9% YOY.
In June alone, industrial sales were up 9.7% month-on-month and 17.1% higher than a year earlier. (Source: NSI)
>> mai mult >>
august 6, 2010
According to the executive manager of Rompetrol Group, Sadoukhas Meralyiev, the delisting process of RRC is in accordance with the law and Rompetrol Group will contest NSC decision. He also stated that discussions regarding paying the debt of EUR575m with Romanian authorities will continue, and most [...] >> mai mult >>
august 6, 2010
SIF Oltenia sold on Thursday its stake in Comcereal Olt Slatina (CCOL) for EUR2.45m.
SIF Oltenia sold on Thursday its stake in Comcereal Olt Slatina (CCOL) for EUR2.45m.
(Source: BSE)
[...] >> mai mult >>
august 6, 2010
NSC sanctions shareholders holding stakes over 1% in SIFs.
NSC requested some shareholders of SIF1 and SIF3, acting as a group, to reduce their stakes under the 1% threshold in 90 days term, while in case of SIF2, NSC sanctioned one of the shareholders with a warning and gave a 30 days term to respect law provisions. (Source: BSE)
[...] >> mai mult >>
august 6, 2010
According to a press release of the Romanian Government, the state will sell a 9.84% stake in Petrom, and also 15% stakes in Transgaz (TGN), Transelectrica (TEL) and Romgaz. The state will remain major shareholder in Transgaz and Transelectrica and also significant shareholder in Petrom. The [...] >> mai mult >>
august 6, 2010
According to the agenda of the SGA in early September, Fondul Proprietatea announced it wants to reward its shareholders with 1.13 billion RON in dividends resulting from profits made in 2008 and 2009, with a gross value of the dividend of 0.082 RON/share. Also the Fund intends to buyback 1,375bn [...] >> mai mult >>
august 5, 2010
IMF cuts Romania’s GDP growth forecast for 2010 and 2011.
Head of IMF mission in Romania, Jeffrey Franks, announced on Wednesday a 1.9% contraction for this year from 0.5% projected earlier and forecasted a growth of 1.5-2% next year down from 3.6% expected earlier. Regarding year-end inflation, IMF foresees a rate of 7.5%-8% and a 3% at the end of 2011. [...] >> mai mult >>
august 5, 2010
Central Bank kept key interest rate unchanged at record low 6.25%.
The Board of the National Bank of Romania decided on Wednesday to keep the monetary policy rate at 6.25% per annum, in line with expectations. Also, the Board announced it will ensure an adequate management of liquidity in the banking system and decided to maintain the existing levels of minimum [...] >> mai mult >>
august 5, 2010
Retail sales up 6.8% MOM following higher non-food items sales, up 4.8% YOY due to higher fuel and non-food items sales, in June 2010. (Source: NSI)
[...] >> mai mult >>
august 5, 2010
Government approved the sale of stakes in Petrom, Transgaz, Transelectrica, Romgaz.
According to the economy minister, the government approved on Wednesday to sell on the stock exchange this year stakes in OMV Petrom (SNP), Transgaz (TGN), Transelectrica (TEL) and Romgaz by running a secondary public offering. (Source: ZF)
[...] >> mai mult >>
august 5, 2010
According to a provision of the management agreement that states FP listing within 90 days of taking the management, and considering the SGA convened in September, the listing could happen in January 2011. (Source: Fondul Proprietatea)
[...] >> mai mult >>
august 5, 2010
Albalact SA (ALBZ) H1 net profit down c14% YOY to RON2.41m.
Dairy company Albalact (ALBZ) reported for the first semester an operating profit of RON6.37m, 2.56% higher YOY from RON6.1m. Net sales were of RON125m, 7.57% up YOY from RON116.3m, while total revenues increased 9.1% YOY to RON131.96m. (Sursa: BSE)
[...] >> mai mult >>
august 4, 2010
PPI rose 6.2% YOY in June (up 0.4% MOM).
According to NSI, producer price index increased YOY by 6.2% in June slowing down from a 6.5% YOY advance in May. June’s evolution was backed by the 10.1% YOY increase in energy goods prices (down 0.7% MOM), and by the 7% increase in manufacturing sector (up 0.5% MOM). (Source: NSI) [...] >> mai mult >>
august 4, 2010
Petrom Group H1 EBIT up YOY 211% to RON1.67bn, well above H109, while in Q2 the reported EBIT was of RON728mn. The net financial result rose to RON147mn in H210 positively influenced by FX effects due to USD appreciation against RON. E&P clean EBIT was 96% higher YOY in H2 due to increase in [...] >> mai mult >>
august 4, 2010
Fondul Proprietatea submitted this week all documents required for enrollment with the NSC.
Earlier this week Fondul Proprietatea finished submitting all documentation regarding registration with the NSC as other collective investment scheme (AOPC), process delayed because the Fund was requested a number of additional documents. FP enrollment as AOPC with the NSC is required for listing on [...] >> mai mult >>
august 3, 2010
Sebastian Vladescu: 2011 budget provides a 1.5-2% growth and a deficit of 4.4% of GDP.
According to the Finance Minister Sebastian Vladescu, the budget drafted by the IMF and the authorities for 2011 provides a 1.5-2% growth, a deficit of 4.4% of GDP, inflation of 3% with a margin of +/- 1% and a 5% of GDP current account deficit without considering a change in VAT or in flat [...] >> mai mult >>
august 3, 2010
The foreign currency reserves of BNR stood in July at EUR31.58bn from EUR31.63bn in June.
The foreign currency reserves of the National Bank (BNR) have decreased by EUR47m to EUR31.58bn at the end of July, following inflows of EUR3.05bn representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public Finance [...] >> mai mult >>
august 3, 2010
Real estate developer Impact Bucuresti (IMP) can’t choose BoD members because of insolvency.
Real estate developer Impact Developer & Contractor Bucharest (IMP) has delayed appointing a new member of the Board of Directors until after coming out of insolvency, as the law provides that if a company enters into insolvency proceedings, only the judicial administrator can convene SGA. [...] >> mai mult >>
august 2, 2010
BRD-GSG (BRD) H1 gross EBIT up 16.1% YOY, net profit dropped 13.7% YOY down to RON367m.
Net profit of BRD - Groupe Société Générale (BRD) decreased 13.7% in the first semester down to RON 366.9m (EUR88.4m) from RON 425,2m in H1 2009, while gross EBIT was of RON1067m (EUR257m) and the net banking revenue 7.9% YOY up to RON1750m (EUR422m). (Source: BSE) [...] >> mai mult >>
august 2, 2010
Beer producer Bermas Suceava (BRM) on profit in H1 2010.
Beer producer Bermas Suceava (BRM) recorded in the first half a turnover of RON10.2m, a 3.5% drop compared to revenues of RON10.6m last year. Revenues decreased 2% from RON11.6m to RON11.4m, while expenditures were 4.8% down from RON11.8m to RON11.2m. Bermas ended the first six months with a [...] >> mai mult >>
august 2, 2010
Socep Constanta (SOCP) net profit up 10 times.
Port operator Socep Constanta (SOCP) recorded in H1 a turnover of RON19.24m, 12% down compared to the RON21.82m in H1 2009. The company registered a net profit of RON0.6m up from a gain of 66,000 RON in the same period last year. Revenues fell by 8.6% from RON24.53m to RON22.41m, while [...] >> mai mult >>
iulie 30, 2010
Finance Ministry to sell RON4.6bn government securities in August.
The Finance Ministry plans to sell in August government securities in worth of RON4.6bn (EUR1.1bn), amount higher than the RON1.4bn sold a month earlier. For the first time this year, the Finance Ministry sold on Wednesday euro-denominated one-year treasury bills worth EUR1.2bn, 3 times more than [...] >> mai mult >>
iulie 30, 2010
Finance Ministry, set to borrow EUR7bn from abroad in 3 years.
According to a euro medium term notes funding programme recently approved by the Government, the Finance Ministry is readying to start issuing EUR7bn on the external market in the next three years euro-denominated notes with maturities of up to five years totally worth over. (Source: ZF)
[...] >> mai mult >>
iulie 30, 2010
INS: building permits, down 17% YOY in H1.
According to data published by NSI, in the first six months the number of building permits issued dropped 16.9% over the same period of 2009. (Source: INS) >> mai mult >>
iulie 30, 2010
NSC forbid Rompetrol Rafinare (RRC) delisting until the State recovers its debt.
National Securities Commission has blocked the delisting of RRC until the legal situation of the bonds held by the Ministry of Finance in the company is clarified. The request came from the state, which should recover EUR571m this year, representing the value of bonds issued on account of the [...] >> mai mult >>
iulie 30, 2010
BCR H1 profit dropped 19.5% down to RON488.5m.
BCR announced for the first semester a net consolidated profit, after taxes and minorities, in amount of RON488,5m, down 19,5% YOY. The negative result was recorded mainly as a result of higher provisions expenses, due to economy contraction which had a major negative impact on customers. H1 group [...] >> mai mult >>
iulie 29, 2010
State revenues fell by 0.1% in the first semester, but expenses rose by 4%.
Consolidated budget revenues decreased in the first six months 0.1% compared to the same period last year down to RON77.2bn, while expenditures increased 4% up to RON95.3bn. Thus, H1 budget deficit reached RON18.07bn, slightly below the RON18.2bn limit established under the Agreement concluded [...] >> mai mult >>
iulie 29, 2010
Finance Ministry sold euro-denominated one year T-bills worth EUR1.2bn, 3 times more than planned.
The Finance Ministry sold on Wednesday euro-denominated one-year treasury bills worth EUR1.2bn, 3 times more than the initial targeted amount, at an average yield of 4.9%. The raised amount will be used to fund the budgetary gap and refinance the maturing public debt. Banks demand reached EUR1.37bn, [...] >> mai mult >>
iulie 29, 2010
Business activity expected to decline in all sectors.
According to the latest survey conducted in July by NSI among company managers, they expect a drop in the activity of manufacturing, construction and services sector and retail, during July and September. Manufacturing expects a moderate downward trend in the activity (conjunctural balance -6%), [...] >> mai mult >>
iulie 29, 2010
Property Fund, most likely to be listed on BSE in January 2011.
According to Franklin Templeton fund manager for Romania, Greg Konieczny, Fondul Proprietatea will most likely be listed on BSE in January and also on a foreign stock exchange, most probably in London. He pointed to a provision of the management agreement that states FP listing within 90 days [...] >> mai mult >>
iulie 29, 2010
11% of Ves Sighisoara (VESY) is on sale at a price 50% higher.
Two shareholders have initiated a secondary offering of a 10.93% stake in Ves Sighisoara (VESY) for RON1m, more than 11 million shares at a price of RON 0.0905, 50.8% higher than the last closing price. The minimum number of shares that can be subscribed is 2.4 million shares, representing 2.37% of [...] >> mai mult >>
iulie 28, 2010
Banca Transilvania H1 gross operating profit up 68%.
Banca Transilvania reported for the first semester operating revenues in worth of RON726m, 27% increase YOY, while the gross operating profit before provisioning rose 68% YOY to RON390m. After provisioning, banks’ gross profit was of RON60m and the net profit of RON33m. Solvency remains at a [...] >> mai mult >>
iulie 28, 2010
Fondul Proprietatea H1 profit, more than twice 2010 budgeted profit.
Fondul Proprietatea (FP) announced a net profit of EUR49m for the first half of 2010, 25% higher to H109. Most of the Fund income came from dividends received from companies in the portfolio. FP recorded revenues in worth of EUR62.5m, about 38% higher. (Source: EconomicTimes.ro)
[...] >> mai mult >>
iulie 27, 2010
IMF: Economy will contract this year, but not as much as 3%.
The IMF prognosis on the depth of this year's recession is being revised, but the scenario of a 3% contraction such as the one put forward by the EBRD is too downbeat in the view of the international financial institution, states Jeffrey Franks, head of the IMF mission for Romania. Official sources [...] >> mai mult >>
iulie 27, 2010
Overdue payments on bank loans surge by 139% YOY to EUR3.1bn in June.
The stock of overdue payments on bank loans surged by 139% YOY to EUR3.1bn at the end of June after the rise steepened in H1. Further deterioration of the bank loan quality on the retail side is expected while on the corporate side it might stabilize once the economic growth takes off sometime next [...] >> mai mult >>
iulie 27, 2010
Prefab (PREH) first semester profits five times higher.
Prefab (PREH) building materials manufacturer, recorded a fall in first quarter sales by 12% to EUR9.6m due to reduced selling prices of main products, but managed to increase net profit by about five times, to EUR0.76m on lower raw material costs. [...] >> mai mult >>
iulie 27, 2010
SIF Transilvania (SIF3) dividends will be distributed during 1 sep – 29 oct 2010.
SIF Transilvania (SIF3) dividends will be distributed during 1 sep – 29 oct 2010. >> mai mult >>
iulie 26, 2010
IMF team returns to Bucharest for fifth review of the stand-by agreement.
IMF experts begin today in Bucharest a new round of talks with the Romanian authorities with a view to assess the economic performance in the first half of the year and set targets for the next period. The sixth tranche for Romania under the EUR13bn loan attached to the stand-by agreement, in [...] >> mai mult >>
iulie 26, 2010
Public debt rose 47% YOY up to EUR42.4bn in May.
The public debt, as reported by the ministry of finance (e.g. including the borrowing from Treasury’s reserves) increased by 47% YOY up to EUR 42.4bn at the end of May. The rise was driven by the forex borrowing, as the amount of forex denominated public debt doubled since one year earlier to [...] >> mai mult >>
iulie 26, 2010
Armax Gaz Medias (ARAX) only raised RON1.44m from shareholders.
The manufacturer of oil and gas industry equipment, Armax Medias (ARAX), collected EUR0.34m in a capital increase completed on Monday, 19th July. Company shareholders subscribed about 27% of the total 21.57 million shares the company has put up for sale in the operation. Subscription price [...] >> mai mult >>
iulie 23, 2010
New round of talks with IMF starts from 0.5% GDP decline scenario in 2011.
On Monday, Romania will start a new round of talks with the IMF and the European Commission in terms of the third year of recession in a row looming, as the GDP could go down by 0.5% in 2011, as official sources say. After the 7% decline in 2009, the revised contraction forecast considered for [...] >> mai mult >>
iulie 23, 2010
EBRD worsened the forecast for Romania: contraction of 3%.
European Bank for Reconstruction and Development has significantly worsened the economic forecast for Romania this year from stagnation to a contraction of 3%, reflecting the evolution of the first quarter and fiscal consolidation measures agreed with IMF. For 2011, the bank downgraded its [...] >> mai mult >>
iulie 23, 2010
IMF and the EC: Foreign banks in Romania can diminish their exposure to 95%.
IMF, the European Commission and the Central Bank decided on Thursday in Brussels that exposure of the nine important foreign banks present on the domestic market can vary within a range of 5% from levels registered in March 2009. (Source: Mediafax)
[...] >> mai mult >>
iulie 23, 2010
In May Romania ranked 11th place in EU in terms of new industrial orders.
According to Eurostat data, with an increase in new industrial order in May of 22.5%, Romania ranked 11
th position in the European Union compared to same period in 2009, rate higher than the average advance in EU of 20.1%. May represents the fifth consecutive month of [...] >> mai mult >>
iulie 23, 2010
Insolvency procedures opened against Impact Developer & Contractor (IMP).
Impact received on Thursday a notice from SC ACTIV LICHIDATOR IPURL acting as judiciary administrator, regarding the opening of insolvency procedures according to the sentence pronounced by Bucharest Court of Law. (Source: BSE)
[...] >> mai mult >>
iulie 22, 2010
Romanian Government wants to sell EUR450m stakes on Stock Exchange.
The government intends to sell a 15% stake in each Transelectrica (TEL) and Transgaz Medias (TGN) and also a 15% stake in gas producer Romgaz Medias, by running a secondary public offering according to draft Government decisions cited by Mediafax news agency. Considering that preparing the offerings [...] >> mai mult >>
iulie 22, 2010
Oltchim Ramnicu Valcea (OLT) fined EUR14.3m because of CO2 certificates.
Chemical company Oltchim Rm. Valcea (OLT) was informed by the National Environmental Protection Agency that it would be fined EUR14.34m for failure to give back for year 2009 a number of 140,000 greenhouse gas certificates. The fine is equal to current market capitalization of Oltchim. Romanian [...] >> mai mult >>
iulie 21, 2010
Fitch sees budget deficit at 7.5% of GDP, above the 6.8% agreed with IMF.
The rating agency Fitch expects the budget deficit to exceed the target agreed with IMF by more than half a percentage point and a contraction of the economy by 1% YOY, but it considers that current risk do not endanger Romania sovereign rating. Regarding the banking sector, IMF representatives [...] >> mai mult >>
iulie 21, 2010
Foreign banks’ exposure discussed at NBR on Monday.
According to banking sources, NBR Governor Mugur Isarescu discussed with Finance Minister, Sebastian Vladescu, and several commercial bankers about the economic outlook for the second half of 2010 and about relaxing the requirement for foreign banks to maintain their exposure on Romania. A new [...] >> mai mult >>
iulie 21, 2010
Aluminium producer Alro Slatina (ALR) takes a loan in worth of USD180m from EBRD.
Aluminium producer Alro Slatina approved on Tuesday at the Shareholders General Assembly to take a credit of USD180m from the European Bank for Reconstruction and Development (EBRD) in order to refinance most of the company's debt. (Source: NewsIn) [...] >> mai mult >>
iulie 20, 2010
Romania Plans To Sell EUR400m one-year T-Bills at 5% on July 28.
Romanian Ministry of Finance plans to auction EUR>> mai mult >>
iulie 20, 2010
According to latest reports, the Eastern Eagle Fund owns 1% of SIF3, representing 11 million shares, given that last year it notified a holding of 1.13%. The fund also holds a 20% stake in ROCE and 9.6% of auto parts maker Altur Slatina (ALT). Also, FIM Bank Ltd announced it holds a 1.08% stake in [...] >> mai mult >>
iulie 19, 2010
7.6% YOY decline in sales of consumer goods in retail chains in the first four months of 2010.
Sales of fast moving consumer goods (FMCG) down 7.6% YOY in retail chains and by 15% YOY (value terms) in traditional stores in January-April, according to a study of research firm MEMRB cited by Ziarul Financiar. During this period, the largest decline in volume terms was registered for tobacco [...] >> mai mult >>
iulie 19, 2010
PB EMIL BOC: Government will scrap minimum profit tax this autumn and will maintain flat income tax.
The government announced it will eliminate the minimum profit tax this autumn and will also maintain the flat income tax at 16%, stating that the introduction of a progressive taxation system would not generate supplementary revenues to the state’s budget. PM Boc also announced that the [...] >> mai mult >>
iulie 19, 2010
Broker Cluj (BRK) made a profit of EUR1.3m in first six months.
According to the net asset position on June 30th, Broker Cluj (BRK) recorded in the first six months of 2010 a profit of EUR1.3m, higher than all profits reported in 2009 in worth of EUR1.16m. (Source: ZF)
[...] >> mai mult >>
iulie 16, 2010
Isarescu: Romania's international currency reserve does not need to increase.
Romania's foreign reserves fell in June by EUR362m (-1.13%) from previous month, down to EUR31.627bn from EUR31.989bn in May, according to a press release from the Central Bank. The governor of the National Bank of Romania, Mugur Isarescu, stated that Romania's international currency reserve does [...] >> mai mult >>
iulie 16, 2010
SIFs first six months profits down 70% YOY.
SIF3, SIF4 and SIF5 published their statements on first six months. SIF Oltenia (SIF5) reported the highest profit of the three SIFs, of EUR12.1m, 71% lower YOY, as in 2009 it sold stakes owned in Automobile Craiova and Bancpost. SIF Muntenia (SIF4) reported H1 earnings of EUR8.43m, while SIF [...] >> mai mult >>
iulie 15, 2010
Romania had the lowest growth rate in industrial output in EU.
Romania recorded in May a 2.7% industrial production growth rate, the lowest rate in the European Union over the same period last year, while only two member states reported decreases. Inside EU the rate rose to c9%. (Source: Mediafax) [...] >> mai mult >>
iulie 15, 2010
SIF Oltenia (SIF5) acquired a 1.2% stake in Biofarm Bucuresti (BIO).
SIF Oltenia (SIF5) has strengthened its position in drug manufacturer Biofarm (BIO) after buying 13.3m shares through transactions worth EUR0.57m. Following [...] >> mai mult >>
iulie 15, 2010
Nasdaq considers buying a stake in BSE.
According to a Nasdaq OMX Europe representative, the transatlantic stock exchange operator could cooperate with the Bucharest Stock Exchange (BSE) to develop the domestic market and does not exclude the possibility to buy a stake in the operator of the Bucharest market. (Source: IntelliNews) [...] >> mai mult >>
iulie 14, 2010
The CA deficit widened by 45.7% YOY in Jan-May 2010 to EUR2,865m, driven by lower current transfers.
FDIs amounted to EUR 1,433m in the first five months of 2010, down 31.6% YOY, financing 50% of the CA gap; FDIs were carried under the form of equity subscription (EUR1205m, down 2.82% YOY) and intra-group loans (EUR228m, down 73.3% YOY). (Source: National Bank of Romania) [...] >> mai mult >>
iulie 14, 2010
Jan-May 2010 external debt reached EUR87bn (up 8.6% YTD).
The medium and long-term debt rose to EUR71.23bn in the first five months of 2010, up 8.6% compared to FY09, while the short term debt widened by 8.6% compared to FY09, to EUR15.8bn. (Source: National Bank of Romania) [...] >> mai mult >>
iulie 13, 2010
June Consumer Price Index rose 0.16% MOM and 4.38% YOY.
In annualized terms, the inflation slightly decreased to 4.38% YOY from 4.42% in May, consequence of second consecutive monthly decrease in food prices. The monthly inflation reached 0.16%, influenced by services prices which rose 0.57% MOM, as Romanian leu depreciated against euro but also due to [...] >> mai mult >>
iulie 13, 2010
May 2010 trade deficit narrowed by 21% YOY to EUR957m.
FOB-CIF trade deficit tightened 21% YOY in May to EUR957m, based on the preliminary data from INSSE. Exports increased by 29.5% YOY (in EUR terms), accelerating from a 33.3% YOY increase in April, while imports grew by 27.7% YOY (in EUR terms) in May, compared to a 21.2% YOY increase in April, as [...] >> mai mult >>
iulie 13, 2010
Horia Ciorcila, chairman of Banca Transilvania (TLV), charged with Stock Exchange manipulation.
Horia Ciorcila, along with other 7 people, has been officially charged by the authorities for having manipulated the capital market and for having used insider information in transactions with TLV shares on the Stock Exchange. Ciorcila argues the charge is completely unfounded and will act through [...] >> mai mult >>
iulie 13, 2010
Impact (IMP) goes insolvent over a debt worth EUR0.3m.
The Bucharest City Court last week allowed an insolvency claim filed by Romconstruct Ploiesti against real estate firm Impact Developer & Contractor over a EUR0.3m debt. In response, Impact Developer & Contractor announced it has the financial capability to pay the debt, which it does not, [...] >> mai mult >>
iulie 12, 2010
The billion-RON Fondul Proprietatea dividends closer to being distributed.
On Friday, July 9th, President Traian Basescu promulgated the law which enables the profit distribution of Fondul Proprietatea for 2008 and 2009 and the direct listing on the Bucharest Stock Exchange. After the law comes into force, the management of Fondul Proprietatea will call [...] >> mai mult >>
iulie 12, 2010
Partnership between OMV Petrom Bucuresti (SNP) – Petrofac to increase production.
Petrom and Petrofac signed an agreement that targets cumulative production enhancement out of nine onshore fields in Ticleni by at least 50% in the next five years. Petrom will remain the title holder of concessions contracts and hydrocarbons production while Petrofac will manage the activity in the [...] >> mai mult >>
iulie 12, 2010
Rompetrol Rafinare SA (RRC), execution time of preference rights has started.
Following the publication in the Official Gazette on 8th of July of the SEGA decisions regarding the approval of capital increase and preference rights details, the company announced on Friday the start of the preference rights execution period. (Source: BSE) [...] >> mai mult >>
iulie 12, 2010
Amonil Slobozia (AMO) stops part of the production facilities.
Starting on 7th of July, Amonil Slobozia fertilizer producer has stopped part of the production facilities (urea, ammonia, nitric acid, ammonium nitrate, liquid fertilizers) in order to perform the annual overhaul. (Source: BSE) [...] >> mai mult >>
iulie 9, 2010
Central Bank does not intend to use key interest rate to lower inflation.
According to NBR Governor Isarescu, the Central Bank will not increase the key interest rate in order to lower the inflation rate, as inflation derived from VAT increase is non-monetary and its scope is to correct excessive salary and pension increases, substituting the pension cuts denied by the [...] >> mai mult >>
iulie 9, 2010
Industrial production dropped 0.3% MOM, but rose 4.1% YOY in May.
Industrial output in series adjusted for the number of working days and seasonality, decreased by 0.3% in May compared to April, but increased by 4.1% over the same month in 2009. In the unadjusted series, industrial production grew by 4.6% MOM and by 5.8% YOY in May. (Source: INS) [...] >> mai mult >>
iulie 9, 2010
Turnover in trade and services declined 9.6% YOY.
Turnover in wholesale and retail trade, maintenance and repair of motor vehicles and motorcycles fell 9.6% YOY in May, especially following the collapse of auto sales. (Source: INS) [...] >> mai mult >>
iulie 8, 2010
New industrial orders up 4.4% MOM and 22.5% YOY in May.
Compared to April, new orders climbed 4.4% in May due to increases in capital goods industry (+11.1%), household goods industry (+8.5%) and durable goods industry (+4.4%). The YOY evolution of new industrial orders was supported by capital goods industry (+29.1%), intermediate goods industry [...] >> mai mult >>
iulie 8, 2010
Construction volume dropped 18.3% in the first five months.
The volume of construction works, series adjusted depending on the number of working days and seasonality, decreased by 18.3% in the first five months of 2010 compared to same period the previous year, as new construction works declined by 29.2%. Compared to last month, the volume of construction, [...] >> mai mult >>
iulie 8, 2010
The Finance Ministry amended the norms for tax on interest income, allowing banks to tax only the income obtain after July 1st, as until now the clients were charged the tax on interest rate obtained from deposits due before July 1st, but transferred in their accounts after July 1st. (Source: [...] >> mai mult >>
iulie 7, 2010
IMF, EC and Central Bank to review agreement with foreign banks on July 22nd in Bruxelles.
The Central Bank, assisted by IMF and EC, will review on July 22nd the multilateral agreement drafted in March 2009 in Wien with the group of nine European banks operating in Romania in regard to their exposure to the country. The foreign banks have recently advocated for diminishing their exposure [...] >> mai mult >>
iulie 7, 2010
Unemployment rate rose to 8.1% in Q1’10.
According to the National Institute of Statistics, the unemployment rate climbed 1.2 percentage points YOY reaching 8.1% in the first quarter of 2010, versus 7.5% in Q4’09 and 6.9% in Q1’09, computed under the ILO methodology. (Source: INS) [...] >> mai mult >>
iulie 6, 2010
IMF mission to visit Romania between July 26 and August 4.
In order to review Romania’s economic performance and to discuss upon the loan agreement signed with Romania, as well as whether to disburse the next tranche worth EUR900m of the loan, an International Monetary Fund mission will visit Romania during July 26 and August 4. An IMF technical [...] >> mai mult >>
iulie 6, 2010
NBR Governor: According to latest estimations, inflation will reach 8% until the end of the year.
Mugur Isarescu stated that if the increase of the VAT tax up to 24% is fully forward and applied to all prices, it would lead to an increase of 4,2 percentage points in the inflation. IMF Board approved the revision of the inflation target for this year set in the stand-by agreement from 3.5% to [...] >> mai mult >>
iulie 6, 2010
Adamescu buys back 27% in Astra from the Austrians.
Major shareholder with a stake of 70% in Astra Asigurari, leader of the domestic insurers' ranking after the first quarter, Dan Adamescu is set to buy back the 27% stake sold to Austria's Uniqa in 2005, with the deal due to be completed by yearend, approximately under the same price terms as in [...] >> mai mult >>
iulie 5, 2010
Construction materials producer Prefab starts trading on the Bucharest Stock Exchange Tier I today, after being transferred from the Rasdaq market; the last closing price was RON2.09/share, thus the company’s value reaching RON101m. (Source: BSE) [...] >> mai mult >>
iulie 5, 2010
Retail sales up 1% MOM following higher non-food items sales, down 3,4% YOY due to lower food and tobacco sales, in May 2010. (Source: NSI) [...] >> mai mult >>
iulie 5, 2010
IMF expects Romania’s inflation to reach 7.9% at the end of 2010.
During July 2nd IMF’s Executive Board meeting on Romania’s outlook, the institution approved to disburse the fifth tranche worth EUR913m of the IMF loan to Romania, and also estimated a 7.9% inflation rate for the year-end, compared to 3.5% initially provisioned in the agreement, due to [...] >> mai mult >>
iulie 2, 2010
The foreign currency reserves of BNR dropped by EUR362m to EUR31.63bn in June.
The foreign currency reserves of the National Bank (BNR) have decreased by EUR362m to EUR31.63bn at the end of June, following inflows of EUR792m representing the change in the minimum FX reserves of the banks, inflows into the EU account, filing of the accounts of the Ministry of Public Finance and [...] >> mai mult >>
iulie 2, 2010
OMV PETROM Bucuresti (SNP, SNP RO, SNPP.BX): OMV Petrom to spin-off marketing activities.
OMV Petrom convenes the Extraordinary General Meeting of Shareholders on August 3rd, to approve the spin-off plan regarding the transfer of the marketing activities to OMV Petrom Marketing SRL, and also the Ordinary General Meeting of Shareholders the same day, in order to acknowledge a change in [...] >> mai mult >>
iulie 2, 2010
SIF Moldova announced yesterday it has acquired 0.3m shares in Polish company Tauron Polska Energia for RON 1.8m. (Source: SIF Moldova) [...] >> mai mult >>
iulie 1, 2010
The budget-finance Committee of the Chamber of Deputies approved the amendments initiated by the parliamentary from opposition and from ruling party, regarding the 5% VAT on food and new buildings construction, as well as regarding the removal of the lump sum tax. The final decision will be taken by [...] >> mai mult >>
iulie 1, 2010
Monetary policy rate maintained flat at 6.25%.
In its meeting on June 30, the National Bank of Romania’s Board decided to maintain the monetary policy rate at the same level, of 6.25%. At the same time, the minimum reserve requirements have been kept unchanged for both RON and FCY denominated liabilities at 15% and 25% respectively. [...] >> mai mult >>
iunie 30, 2010
Budget revision expected within a month.
According to Public Finance Minister Vladescu, the budget for 2010 will be revised within a month, after the IMF mission’s visit on July 20 regarding Romania’s half-year performances. The IMF Board will also meet on July 2 to discuss upon the fourth review on Romania’s Stand-By [...] >> mai mult >>
iunie 30, 2010
Public Finance Minister expects Romania’s economy to decline by 1% in 2010.
According to Public Finance Minister Vladescu, Romania’s economy will drop by over 1% by the end of 2010. (Source: Agerpres) [...] >> mai mult >>
iunie 29, 2010
Budget deficit reached 3.1% of GDP in May.
According to the Public Finance Ministry, the general consolidated budget in Jan-May accounted for RON16.7bn, representing 3.1% of GDP, as budget deficit hiked by RON 4bn in May, due to higher budget expenses and lower budget revenues, raising uncertainties regarding whether the mid-year budget [...] >> mai mult >>
iunie 29, 2010
The National Bank is expected to leave the monetary policy rate unchanged at 6.25%.
According to the analysts, the Central Bank will decide to leave the monetary policy rate unchanged at 6.25% on Wednesday Board’s meeting, due to VAT rate recent hike, which will impede further monetary policy relaxation. (Source: ZF) [...] >> mai mult >>
iunie 28, 2010
Following Romania’s Constitutional Court decision of considering the provisions regarding the 15% pension cuts in the austerity package as unconstitutional, not affecting the 25% cut in public sector wages, the Government has decided to increase VAT from 19% to 24%, which is expected to bring [...] >> mai mult >>
iunie 28, 2010
Next IMF loan tranche to be disbursed on July 1 or 2.
According to Finance Minister Vladescu, the fifth tranche of the loan granted by the International Monetary Fund worth EUR 850m will be disbursed on July 1 or 2, thus IMF board postponed for Wednesday the meeting initially scheduled for 28 June regarding the stand-by agreement with Romania, in order [...] >> mai mult >>
iunie 25, 2010
Constitutional Court to rule over austerity plan constitutionality today.
Romania’s Constitutional Court ought to rule upon the constitutionality of the austerity plan on Thursday, but decided to postpone it for today. Recall that the austerity package includes 25% cuts in public sector wages and 15% cuts in pensions. (Source: Mediafax) [...] >> mai mult >>
iunie 25, 2010
SIF Moldova (SIF2) announced yesterday the sale of its 12% stake in Asco Bacau (ASCE) for RON 3.53m to its main shareholder Inkotown Universal, owned by Imotrust Arad, which raise its indirect stake in Asco to 70%. (Source: SIF2, ZF) [...] >> mai mult >>
iunie 25, 2010
DAFORA Medias (DAFR, DAFR RO, DAFR.BX): Dafora acquired a new oil rig worth EUR16m.
Dafora announced it has acquired a new and modern oil rig worth EUR 16m, in order to start drilling at the Moinesti well for OMV Petrom. (Source: Dafora) [...] >> mai mult >>
iunie 24, 2010
Natural gas price for end-users to rise by 5% starting with July.
According to energy watchdog ANRE, the natural gas prices for end-users will grow by 5% starting with July, due to rise in the share of imported gas in the domestic basket to 30% mainly because the chemical plants acquired the cheap domestic natural gas at the price of USD 160/1,000m3, a 24% [...] >> mai mult >>
iunie 24, 2010
Government approved the emergency ordinance amending the Fiscal Code.
According to the emergency ordinance approved yesterday by the Government, starting with July 1, there will be introduced a tax on luncheon vouchers from which the Government expects to collect some RON345m, a tax on holiday and gift vouchers and the tax rate on gambling will be set to 25%; as for [...] >> mai mult >>
iunie 23, 2010
Fondul Proprietatea no longer needs a Government bill for changes in the Articles of Incorporation.
According to market rumors, the Parliament approved the Ordinance no. 81/2007 regarding the operations of Fondul Propietatea, therefore, any further changes to the Articles of Incorporation of the Proprietatea Fund will no longer require a Government bill. The new articles of incorporation include [...] >> mai mult >>
iunie 23, 2010
IMF Board meeting to take place on June 28, discussing on Romania’s economic performance so far.
On June 28, the IMF Board of Executives will meet in order to discuss upon the report on Romania’s economic performance, and according to Romania’s representative to the IMF Mihai Tanasescu, Romania is likely to receive the fifth tranche of the IMF loan. (Source: Agerpres) [...] >> mai mult >>
iunie 23, 2010
On June 23 shareholders meeting the 2010 budget was approved, according which the net profit is seen rising by 13.61%, while operational income is estimated to increase by 12.22%, and operational expenses are forecasted to appreciate with 9.59%. Furthermore, according to Elisabeta Ghidiu, head of [...] >> mai mult >>
iunie 23, 2010
The shares of construction materials manufacturer Prefab will be transferred from the Rasdaq market to the Bucharest Stock Exchange market, as the brochure was approved by the National Securities Commission. Marian Petre Milut through the company Romerica International owns 80% of the company, while [...] >> mai mult >>
iunie 22, 2010
On June 23 shareholders meeting, it shall be discussed upon the dissolution of the company due to high losses, namely RON 222m in 2009, and due to a drop in net assets to less than half of the share capital, bellow the legally allowed threshold; in case the dissolution is not approved, a share [...] >> mai mult >>
iunie 22, 2010
The Ministry of Public Finance sold RON330m in 1Y T-bills at an avg. yield of 6.85%.
The scheduled value of the auction was RON 1,200m and has been oversubscribed by 29%, as banks’ bids were rejected by the Ministry of Public Finance, due to higher than 6.98% requested yields. (Source: BNR) [...] >> mai mult >>
iunie 21, 2010
Underground economy reached 20.4% of GDP in Q1’10.
According to the National Statistics Institute, the underground economy mainly including black market labor and VAT frauds, rose to 20.4% of GDP in the first quarter of 2010, from 19.8% of GDP registered in 2009. (Source: Agerpres) [...] >> mai mult >>
iunie 21, 2010
Tax on interest income to be applied starting with July 1.
According to the Finance Ministry, starting with July 1, the 16% tax on interest income will be introduced after being suspended during 2009 and first half of 2010. (Source: Mediafax) [...] >> mai mult >>
iunie 18, 2010
State budget to be revised in July for the first time in 2010.
According to Environment Minister Laszlo Borbely, the budget will be revised in July for the first time in 2010, along with talks regarding the necessity of a new international loan, depending on the first year-half budget revenues. (Source: Mediafax) [...] >> mai mult >>
iunie 18, 2010
The scheduled value of the auction worth RON600m was oversubscribed by 66%, though the banks asked higher yields. (Source: National Bank of Romania) [...] >> mai mult >>
iunie 18, 2010
The National Securities Commission has decided to suspend for two weeks SIF5’s chairman and general manager Dinel Staicu due to a sentence to jail ruled by a local court for committing fraud worth EUR5m against Romania’s International Bank of Religions, although the court’s ruling [...] >> mai mult >>
iunie 17, 2010
OMV PETROM (SNP, SNP RO, SNPP.BX): The EUR500m investment on Brazi power plant in progress.
OMV Petrom announced that the second gas turbine arrived at Brazi power plant, the transport costs reaching up to EUR0.35m; for the construction of Brazi gas fired power plant, Petrom acquired two gas turbines and one steam turbine from General Electric, the value of the three turbines representing [...] >> mai mult >>
iunie 17, 2010
Constitutional Court to decide upon austerity package next week.
The drastic measures of the austerity plan which includes a 25% cut of public sector salaries and a 15% pension cut, aimed at reducing Romania’s budget deficit, was challenged by the Romanian Liberal Party with the Constitutional Court, which shall rule upon the matter on June 24. (Source: [...] >> mai mult >>
iunie 17, 2010
Jan-April 2010 external debt reached EUR86.6bn (up 8% compared to FY09).
The medium and long-term debt rose to EUR70.47bn in the first four months of 2010, up 7.4% compared to FY09, while the short term debt widened by 10.4% compared to FY09, to EUR16.1bn. (Source: National Bank of Romania) [...] >> mai mult >>
iunie 17, 2010
The CA deficit widened by 40% YOY in Jan-April 2010 to EUR2,060m, driven by lower current transfers.
FDIs amounted to EUR 1,135m in the first four months of 2010, down 36.8% YOY, financing 55.1% of the CA gap; FDIs were carried under the form of equity subscription (EUR975m, down 10% YOY) and intra-group loans (EUR160m, down 77.4% YOY). (Source: National Bank of Romania) [...] >> mai mult >>
iunie 16, 2010
Cabinet of PM Boc survives non-confidence vote in Parliament.
The opposition parties did not manage to dismiss the cabinet under a non-confidence vote after leftist PSD filed the motion against the cabinet of PM Emil Boc last week, being short of 8 votes in order to reach 50% plus one vote needed. (Source: IntelliNews) [...] >> mai mult >>
iunie 16, 2010
Fitch sees a 1% drop in 2010 GDP.
According to rating agency Fitch, Romania’s economy will shrink by 1% in 2010, with little perspective of a rating increase, although the forecast is conservative and stable. Recall that, in February, Fitch affirmed its long-term ratings on foreign and local currency debt to ‘BB+’ [...] >> mai mult >>
iunie 15, 2010
SIF Banat Crisana(SIF1) began yesterday, paying dividends for the financial year 2009.
SIF Banat Crisana(SIF1) began yesterday, paying dividends for the financial year 2009, approved by the General Assembly of Shareholders, held in late April. The amount of gross dividend per share is 0.05 lei and dividend tax will be withheld at source [...] >> mai mult >>
iunie 15, 2010
Social Democrats announced that they will vote the motion against the government without hiding the voting balls. PSD leader Victor Ponta warned that those who will vote against the motion will be kicked out of the party. Hungarian Democrats, part of the government, announced that they will not [...] >> mai mult >>
iunie 14, 2010
Public debt rose to EUR40.3bn (up 37% YOY) at the end of March.
According to the Ministry of Public Finance, the public debt increased by 37% YOY in EUR terms (33% in RON terms) to EUR40.3bn (RON165bn) at the end of March, reaching 30.6% of GDP projected for 2010. (Source: IntelliNews) [...] >> mai mult >>
iunie 14, 2010
General government budget deficit up 46% YOY in Jan-May.
In January-May period, the general government budget deficit rose by 46% YOY, reaching 3.23% of GDP projected for 2010, as full-year budget deficit is estimated at 9.1% of GDP, while the government intends to lower the deficit to 6.8% of GDP through the fiscal austerity package. (Source: [...] >> mai mult >>
iunie 11, 2010
May 2010 inflation stood at 4.42% YOY.
In annualized terms, the inflation slightly increased to 4.42% YOY from 4.28% YOY in April as analysts expected, consequence of 14.62% YTD increase in tobacco prices on excise duties hike, as well a 6.8% YTD increase in the price of fuel. The monthly inflation reached 0.15%, influenced by services [...] >> mai mult >>
iunie 11, 2010
WB sees a 0.5% drop in Romania’s GDP in 2010.
According to the World Economic Outlook 2010 report released by the World Bank, Romania’s GDP will fell by 0.5% in 2010, the figure corresponds also with the agreed prognosis of the Government with IMF officials. For next year, the World Bank sees a GDP growth of 3.6%, while outlook for 2012 [...] >> mai mult >>
iunie 10, 2010
April 2010 trade deficit narrowed by 10% YOY to EUR850.5m.
FOB-CIF trade deficit tightened 10% YOY in April to EUR850.5m, based on the preliminary data from INSSE. Exports increased by 33.3% YOY (in EUR terms), accelerating from a 15% YOY increase in March, while imports grew by 21.2% YOY (in EUR terms) in April, compared to a 17.8% YOY increase in March, [...] >> mai mult >>
iunie 9, 2010
Unemployment rate reached 7.67% in May.
According to the National Employment Agency ANOFM, the unemployment rate stood at 7.67% in May (701,854 unemployed citizens), down from 8.07% in April 2010 and up from 5.70% in May 2009. (Source: SeeNews) [...] >> mai mult >>
iunie 9, 2010
Oil and Gas prospecting company Dafora together with Hidroconstructia and Flowtex Technology signed a contract worth RON22.07m (EUR 5.2m), out of which RON 17.83m represent funds from the European Union through the cohesion funds, to upgrade water and sewerage networks in Agnita and Dumbraveni, two [...] >> mai mult >>
iunie 9, 2010
Transelectrica announced it has signed a contract worth RON 17.9m (EUR 4.3m) with Siemens-Romania and Electromontaj Bucharest, in order to upgrade the 220/110/20 kV Cetate power station; the modernisation works start this June and are expected to be completed in two years. (Source: Transelectrica) [...] >> mai mult >>
iunie 8, 2010
According to the chairman of BSE Stere Farmache, the listing of the Bucharest Stock Exchange’s shares will uplift the capital market by setting an example to companies seeking for funding, being the first listing in the last two years. (Source: ZF) [...] >> mai mult >>
iunie 7, 2010
According to IKANO Eastern Europe Equities Pool, its stake in SIF Moldova (SIF2) rose to 1.09% on May 28 2010. (Source: SIF2) [...] >> mai mult >>
iunie 7, 2010
Templeton Asset Management plans USD500m initial public offering for Proprietatea Fund.
Mark Mobius, Templeton Asset Management executive chairman, the investment manager of Fondul Proprietatea equity assets, stated that an USD500m initial public offering (IPO) is taken into consideration, though it is unlikely for the listing of Fondul Proprietatea to be finalized this year. (Source: [...] >> mai mult >>
iunie 4, 2010
Q1’10 GDP shrinks by 2.6% YOY on weak construction sector.
Q1’10 GDP contracted by 2.6% YOY and by 0.3% QOQ reaching RON 96.7bn (EUR 23.1bn) on poor performance of the construction sector, according to the National Statistics Institute. The construction sector dropped by 17.3% YOY, while services declined by 2.7% YOY in Q1’10. At the same time, [...] >> mai mult >>
iunie 3, 2010
OMV Petrom (SNP, SNP RO, SNPP.BX): OMV Petrom invests EUR135m in gas delivery optimization project.
OMV Petrom announced the start-up of the Hurezani gas delivery system, meant to optimize the gas delivery into the national transportation network during the periods when the pressure in the system is very high, thus rising the pressure up to 40 bars. (Source: OMV Petrom) [...] >> mai mult >>
iunie 3, 2010
Bucharest Stock Exchange shares start trading on 8 June.
Bucharest Stock Exchange shares will be traded on the Bucharest Stock Exchange’s trading platform starting with 8 June. (Source: BSE) [...] >> mai mult >>
iunie 3, 2010
Industrial prices rose 5.6% YOY in April (up 1.3% MOM).
According to the National Statistics Institute, the industrial prices increased by 5.6% YOY in April compared to a 4.5% YOY advance in March, backed by the 14.29% YOY increase (up 1.24% MOM) in energy industry prices, and by the 6.2% increase in processing industries prices (up 1.61% MOM). (Source: [...] >> mai mult >>
iunie 3, 2010
The foreign currency reserves of BNR dropped by EUR397m to EUR31.99bn.
The foreign currency reserves of the National Bank (BNR) have decreased by EUR397m to EUR31.99bn at the end of May, following inflows of EUR1.67bn representing the change in the minimum FX reserves of the banks, filing of the accounts of the Ministry of Public Finance and revenues from the [...] >> mai mult >>
mai 28, 2010
Rompetrol Rafinare announced it plans to increase its share capital by RON450m (EUR108m) in order to cover a part of the debt owed to the state. The matter is subject for approval on June 30 Shareholder Meeting. (Source: Rompetrol Rafinare) [...] >> mai mult >>
mai 27, 2010
Government approved fiscal austerity package.
Yesterday, the Government approved the letter of intent to IMF, through which it commits to cut public wages by 25% and pensions by 15% as part of the fiscal austerity package. The draft laws will be sent to Parliament following the approval of the local Economic and Social Committee. (Source: [...] >> mai mult >>
mai 27, 2010
OMV PETROM (SNP, SNP RO, SNP.BX): Economy Ministry plans to sell 11.84% stake in OMV Petrom.
Economy Ministry has decided to sell 11.84% out of a 20.6% stake in OMV Petrom through a public offer on the Bucharest Stock Exchange from which it might collect over EUR450m (according to yesterday’s OMV Petrom closing price), due to current economic conditions and lack of funds needed to [...] >> mai mult >>
mai 26, 2010
Government to deliver letter of intent for IMF today.
The Government has decided to pass the letter of intent for International Monetary Fund today, while austerity plan will be implemented without many changes, namely a 15% pension cut and 25% wage cut for state employees, despite the lately protests. (Source: Nine O’clock) [...] >> mai mult >>
mai 26, 2010
ALRO Slatina (ALR, ALR RO, ALR.BX): Alro in talks with EBRD for re-financing USD180m debt.
Aluminum smelter Alro announced it is currently negotiating with the European Bank of Reconstruction and Development on re-financing its USD180m debt, which would allow the company to continue its USD50m development project. (Source: Alro) [...] >> mai mult >>
mai 25, 2010
Chemical fertilizers producer Azomures will invest USD130m on environment protection projects during the next five years, according to environment minister Lazlo Borbely. (Source: IntelliNews) [...] >> mai mult >>
mai 21, 2010
The Ministry of Finance placed EUR165m worth of 7Y benchmark bonds at 7% yield.
The issue of RON700.9 was almost flat compared to the scheduled value, while the total bid amounted to RON1.59bn, as the coupon pays an annual interest of 6.75%. (Source: BNR) [...] >> mai mult >>
mai 21, 2010
OMV PETROM (SNP, SNP RO, SNP.BX): OMV Petrom released its development strategy for 2015.
According to OMV Petrom, the E&P activity will concentrate on securing long-term oil and gas supply and develop activities in the Caspian Region, while in Romania the production optimization will be achieved by new technology implementation. As regards to the R&M sector, Petrobrazi refinery [...] >> mai mult >>
mai 20, 2010
ALRO Slatina (ALR, ALR RO, ALR.BX): Alro doubled its profit in Q1’10.
Alro posted a USD16.9m Q1’10 NP, double compared to USD8.3m NP in Q1’09, as turnover rose 17% to USD 139m in Q1’10; Alro budgeted a USD56.7m NP for 2010 ( compared to USD23m in 2009), sees a 2010 turnover of USD579.6m, while investment program was set to USD15m in 2010. (Source: [...] >> mai mult >>
mai 20, 2010
SIF Moldova announced it has acquired BRD-GSG shares amounting to RON2.36m on 18th of May, and bought RON16m worth of Fondul Proprietatea’s shares on 19th of May. (Source: SIF Moldova) [...] >> mai mult >>
mai 19, 2010
Bucharest Stock Exchange listing approved by the National Securities Commission.
The National Securities Commission (CNVM) approved the brochure and the advertising materials necessary for listing the shares issued by the Bucharest Stock Exchange (BVB) on the regulated market managed by the same institution. (Agerpres) [...] >> mai mult >>
mai 19, 2010
Romania’s inflation rate ranks third among EU countries.
April annual inflation rate in Romania was the third highest among the European Union countries (4.2%), after Hungary (5.7%) and Greece (4.7%), while EU’s annual inflation reached 2% in April (up from 1.9% in March 2010 and 1.3% in April 2009), compared to Euro area’s annual inflation [...] >> mai mult >>
mai 19, 2010
OMV Petrom announced the end of the recent offshore campaign, which will lead to crude oil production increase on two old wells by implementing a new technology based on multi stage hydraulic fracturing, which will also be applied to a newly drilled well, resulting to an estimated crude oil [...] >> mai mult >>
mai 18, 2010
CES did not approve letter of intent with IMF.
Yesterday, the Economic and Social Council (CES) which includes government representatives, trade unions and employers unions did not approve the letter of intent with the International Monetary Fund (IMF); instead, CES will send a letter to the Government regarding the aspects on which CES [...] >> mai mult >>
mai 18, 2010
The CA deficit widened by 65.5% YOY in Q1’10 to EUR1,506m, driven by lower current transfers.
FDIs shrunk to EUR754m in Q1’10, down 49% YOY, financing 50% of the CA gap; FDIs were carried under the form of equity subscription (EUR650m, down 34% YOY) and intra-group loans (EUR104m, down 78% YOY). (Source: BNR) [...] >> mai mult >>
mai 18, 2010
Q1’10 country external debt reached EUR86bn (up 7% compared to FY09).
The medium and long-term debt rose to EUR70.16bn in Q1’10, up 6.9% compared to FY09, while the short term debt widened by 8.7% compared to FY09, to EUR15.9bn. (Source: BNR) [...] >> mai mult >>
mai 17, 2010
EBRD reviews outlook for Romania’s 2010 economic growth to 0% from 1.3%.
The European Bank for Reconstruction and Development (EBRD) decided to reduce its outlook for 2010 economic growth to 0% from 1.3% due to low domestic demand expected after budget deficit narrowing measures, thus the Bank estimates a 3% economic growth in 2011. (Source: Mediafax) [...] >> mai mult >>
mai 17, 2010
ANTIBIOTICE Iasi (ATB, ATB RO, ATB.BX): Antibiotice registered 2.65% higher Q1’10 NP.
Generic drugs producer Antibiotice posted a Q1’10 NP of RON10.84m (up 2.65% YOY), as turnover reached RON59.57m, up 3.3% YOY, total revenues amounted to RON65.65m (up 2.7% YOY) and total expenses reached RON52.58m, 3% higher on the year. (Source: Antibiotice) [...] >> mai mult >>
mai 14, 2010
TRANSGAZ Medias (TGN, TGN RO, TGNM.BX): Transgaz posted 30% YOY higher Q1’10 NP.
Transgaz reported Q1’10 net profit of RON 189.21m, 30% higher compared to Q1’09, as operations revenues inched up 14.7%, and operations expenses narrowed by 1.51% to RON 224.75m. (Source: Transgaz) [...] >> mai mult >>
mai 14, 2010
TRANSELECTRICA Bucuresti (TEL, TEL RO, TSEL.BX): Transelectrica reports slightly higher RAS Q1 NP.
Transelectrica reported Q1’10 net profit of RON 50.39m (up 6.66% YOY), due to 5.5-fold higher financial income (RON31.59m) compared to Q1’09; net sales of RON 696.03m (up 0.6% YOY) and EBIT of RON 52.90m (-23% YOY). (Source: Transelectrica) [...] >> mai mult >>
mai 13, 2010
GDP dropped 0.3% QOQ, fell 2.6% YOY in Q1’10.
According to the National Statistics Institute, Romania’s GDP dropped 0.3% in Q1’10 compared to Q4’09, while on the year it fell by 2.6% YOY (-2.5% YOY seasonally adjusted), posting better results compared to analysts’ forecast of 3.4% drop; therefore Romania is still facing [...] >> mai mult >>
mai 13, 2010
AZOMURES Tg Mures (AZO, AZO RO, AZOM.BX): Q1’10 NP 11-fold higher on the year, to RON 22.6m.
Chemical plant Azomures announced Q1’10 NP of RON 22.6m, 11.3-fold higher YOY (Q1’09 NP - RON 2m), as turnover hiked by 76% YOY, to RON 284.5m due to increase of demand on the domestic and international market and due to chemical fertilizers prices hike. (Source: Azomures) [...] >> mai mult >>
mai 12, 2010
April 2010 inflation stood at 4.28% YOY.
In annualized terms, the inflation moderated to 4.28% YOY from 4.20% YOY in March, consequence of 14.61% YTD increase in tobacco prices on excise duties hike, as well a 6.35% YTD increase in the price of fuel. The monthly inflation reached 0.35%, influenced by generic drugs prices which posted an [...] >> mai mult >>
mai 12, 2010
Q1’10 GDP evolution to be released today, estimated to drop 3.4% YOY.
According to the Association of Financial and Banking Analysts (AAFBR) survey regarding GDP evolution, the Q1’10 real GDP is estimated to slide 3.4% YOY (variations between -2.2% and -4%), and to drop by 0.5% QOQ (variations between -0.8% and 0.4%). Data will be released by the National [...] >> mai mult >>
mai 12, 2010
SIF TRANSILVANIA (SIF3, SIF3 RO, SIF3.BX): Q1’10 loss of RON3.56m (down from RON 4.01m in Q1’09).
SIF Transilvania announced Q1’10 loss of RON3.56m, down from RON4.01m net profit in Q1’09, as total revenues reached RON4.30m, down 54% YOY; total expenses accounted for RON7.85m, up 50% YOY. (Source: SIF Transilvania) [...] >> mai mult >>
mai 12, 2010
SIF BANAT-CRISANA (SIF1, SIF1 RO, SIF1.BX): Q1’10 NP of RON4.61m (from RON 0.07m in Q1’09).
SIF Banat-Crisana announced Q1’10 NP of RON4.61m, up from RON0.07m NP in Q1’09, while total revenues reached RON18.62m, five times higher compared to Q1’09; total expenses accounted for RON13.11m, four times higher versus Q1’09. (Source: SIF Banat-Crisana) [...] >> mai mult >>
mai 11, 2010
Next IMF tranche worth EUR900m to be transferred after cost cuts measured are implemented.
The next IMF tranche, part of a EUR12.95bn aid package, shall be released in June or July, after the government introduces the new measures discussed with the IMF, namely cutting public sector’s salaries by 25% and pensions and unemployment benefits by 15%, in order for IMF to approve the [...] >> mai mult >>
mai 11, 2010
March 2010 trade deficit narrowed by 18% YOY to EUR856.6m.
FOB-CIF trade deficit tightened 18% YOY in March to EUR856.6m, based on the preliminary data from INSSE. Exports increased by 15.1% YOY (in EUR terms), decelerating from a 23% YOY increase in February, while imports grew by 17.8% YOY (in EUR terms) in March, compared to a 7.1% YOY increase in [...] >> mai mult >>
mai 11, 2010
Unemployment rate reached 8.07% in April.
According to the National Employment Agency ANOFM, the unemployment rate stood at 8.07% in April, versus 8.36% in March 2010 and 5.70% in April 2009. (Source: SeeNews) [...] >> mai mult >>
mai 11, 2010
Banca Comerciala Carpatica announced Q1’10 loss of RON57m, down from RON11.63m Q1’09 loss due to higher provisions, while operational profit increased by 74.3% YOY, to RON 30.17m; the cost of risk accounted for RON87.78m; BCC’s assets rose 4% YOY at RON 2.77bn, while its [...] >> mai mult >>
mai 11, 2010
Romgaz requested 5% higher regulated gas storage prices.
Gas producer Romgaz requested to ANRE, the energy regulatory authority, a 5% hike in regulated gas storage tariffs for the next winter, as state owned Romgaz stores 20% of the natural gas sold each year in Romania, thus gas storage tariffs represents almost 5% of the consumer price. (Source: [...] >> mai mult >>
mai 10, 2010
Construction works declined by 21.2% YOY at the end of March.
The construction works volume declined by 21.2% YOY at the end of March, due to a 30% reduction in the field of capital repair works, according to the National Statistics Institute data. Also, accounting for construction types, the volume of construction works dropped by 23.5% YOY in the case of [...] >> mai mult >>
mai 10, 2010
Romania to cut by 25% the salaries in the public sector and to decrease by 15% the pensions.
According to Finance Minister Sebastian Vladescu, the new salary system will be based on a professional classification for employees in the public sector, the ratio between the lowest and highest wage in the public sector to be reduced. According to Romania’s President Traian Basescu, the [...] >> mai mult >>
mai 7, 2010
Petrom Group reported Q1’10 financial results with consolidated NP after minorities of RON 803m (up 138% YOY); overall EBIT stood at RON 947m (versus RON331m in Q1’09) reflecting favorable crude oil environment. The Group’s oil and gas production was down 4% YOY due to bad weather [...] >> mai mult >>
mai 6, 2010
EC revised inflation outlook for 2010 to 4.3% from 3.5%.
According to the spring forecast report, the European Commission expects Romania’s 2010 inflation to reach 4.3%, revised from 3.5% previously, on higher excise duties on tobacco and oil, while the economic growth is estimated to reach 0.8% in 2010, backed by exports and foreign direct [...] >> mai mult >>
mai 6, 2010
SIF MOLDOVA (SIF2, SIF2 RO, SIF2.BX): Q1’10 NP of RON10.55m (up 2.5 times YOY).
SIF Moldova announced Q1’10 NP of RON10.55m, up 2.5 times YOY (Q1’09 NP – RON4.17m), while total revenues reached RON20.48m, up 40%; total expenses accounted for RON7.97m, down 23% YOY. (Source: SeeNews) [...] >> mai mult >>
mai 5, 2010
The National Bank cut the monetary policy rate to 6.25% from a previous 6.5%.
In its meeting of May 4, the National Bank of Romania cut the monetary policy rate to an all-time low, namely 6.25% from a previous 6.5%, starting with May 5, thus the rate on the deposit facility will be lowered to 2.25% per year from 2.5% and the rate on the lending facility (Lombard) will be [...] >> mai mult >>
mai 5, 2010
VAT could go up to 25% and flat tax to 20% following talks with IMF.
During yesterday’s meeting between the government and IMF, the option of hiking the VAT from 19% to 24% or 25% and of increasing the flat tax from 16% to 20% was taken into consideration, in order for IMF to agree to a budget deficit increase from 5.9% to 6.9%, despite Finance Minister [...] >> mai mult >>
mai 5, 2010
Industrial prices rose 4.5% YOY in March (up 1% MOM).
According to the National Statistics Institute, the industrial prices increased by 4.5% YOY in March compared to a 2.9% YOY advance in February, backed by the 16.23% YOY increase (up 3% MOM) in energy industry prices. (Source: INSSE) [...] >> mai mult >>
mai 5, 2010
Banking system reports Q1’10 NP of EUR100m.
In the first quarter of 2010, the local banks totaled some EUR100m net profit, resuming activity as operational profit exceeded the financial loss, in spite of rising costs of risk, though 20 of 42 banks still reported losses. (Source: IntelliNews) [...] >> mai mult >>
mai 4, 2010
BCR Q109 NP down 26.4% YOY to RON243m (EUR58.7m).
Banca Comerciala Romana (BCR) posted a Q1’10 consolidated NP of RON243m (EUR 58.7m), down 26.4% YOY, mainly due to higher provision expenses and lower profitability, the cost of risk reaching RON456m. (Source: IntelliNews) [...] >> mai mult >>
mai 4, 2010
The foreign currency reserves of BNR hiked by EUR350m to EUR32.38bn.
The foreign currency reserves of the National Bank (BNR) have increased by EUR350m to EUR32.38bn at the end of April, following inflows of EUR1.37bn representing the change in the minimum FX reserves of the banks, filing of the accounts of the Ministry of Public Finance and revenues from the [...] >> mai mult >>
mai 3, 2010
The SIF’s approved the following dividends:
SIF Banat Crisana (SIF1) will pay gross dividends worth RON0.05/share (net div. yield accounts for 2.8% based on the last closing price), SIF Moldova (SIF2) approved gross dividends worth RON0.06/share (net div. yield of 3.8%), SIF Transilvania (SIF3) approved gross dividends of RON0.03/share (net [...] >> mai mult >>
mai 3, 2010
PETROM Bucuresti (SNP, SNP RO, SNPP.BX): Petrom to increase its share capital by up to EUR 0.68bn.
On Friday, Petrom’s shareholders approved to operate a share capital increase worth EUR 0.68bn, namely 50% of the current share capital, in order to finance investment projects worth EUR1.6bn. Petrom’s shareholders also agreed to pay no dividend for 2009, and estimated 2010 EBIT to reach [...] >> mai mult >>
mai 3, 2010
BRD-Group Societe Generale (BRD, BRD RO, BRDX.BX): Q1’10 NP of RON199m (down 5% YOY).
GSG announced Q1’10 NP of RON 199m, down 5% YOY (Q109 NP – RON 210.09m); ROE accounted for 29% in Q1’10. (Source: BRD-GSG) [...] >> mai mult >>
aprilie 30, 2010
Transelectrica, national power grid operator, announced FY09 IFRS consolidated results, with net profits at RON 18.25m (-64% YOY), operating revenues reached RON2.55bn (down 15% YOY). OPEX (excluding depreciation charges) decreased at the pace with the annual turnover to RON2.45bn (down 10% YOY). [...] >> mai mult >>
aprilie 30, 2010
Banca Transilvania announced Q1’10 EBT of RON16.01m, up 15 times YOY (Q1’09 EBT – RON 1.02m), due to operations revenues of RON385m (up 47% YOY), while operations profit reached RON93m, up 134% YOY; Banca Transilvania expects to see FY’10 EBT lowering by 4% YOY to RON150m; [...] >> mai mult >>
aprilie 29, 2010
CONDMAG Brasov (COMI, COMI RO, COMI.BX): Condmag budgeted a RON21.6m NP for 2010.
Condmag pipeline producer’s shareholders approved a gross profit of RON21m for 2009, and budgeted a NP of RON21.6m for 2010, the investment plan set for 2010 was EUR11m, out of which EUR9.9m will be accessed through European funds. (Source: Condmag) [...] >> mai mult >>
aprilie 29, 2010
The shareholders of Turism Felix approved a NP of RON7.8m, 19% lower compared to 2008, and decided not to grant dividends for 2009; the investment plan for 2010 is worth RON2.75m. (Source: Turism Felix) [...] >> mai mult >>
aprilie 29, 2010
Artrom’s shareholders approved a budgeted NP of RON21m for 2010, after posting a RON33m loss in 2009, while the investment plan for 2010 was set to RON5.7m. (Source: Artrom) [...] >> mai mult >>
aprilie 28, 2010
TRANSGAZ Medias (TGN, TGN RO, TGNM.BX): Transgaz to pay a gross DPS of RON13.02.
The approved 2009 gross DPS of Transgaz is 24% higher compared to 2008 gross DPS of RON 10.47, while the payout ratio accounted for 51%. The net dividend yield based on the last closing price accounts for 4.4%, dividend ex-date being May 12. The shareholders also approved the RON298m NP, up 25% YOY, [...] >> mai mult >>
aprilie 28, 2010
BRD-GSG Bucuresti (BRD, BRD RO, BRDX.BX): BRD-GSG sees flat or slightly rising FY10 NP.
BRD-GSG estimates a flat or slightly rising FY10 NP, after dropping by 31% to RON0.78bn in 2009, while net banking income is expected to reach a maximum RON3.96bn, up 5-10% YOY; operating expenses should account for RON1.6bn, up 5% YOY; gross DPS of RON 0.2795 approved, down 61.6% YOY, net dividend [...] >> mai mult >>
aprilie 27, 2010
Moody’s to maintain negative outlook for Romania’s banking system in 2010.
Moody’s rating agency decided to maintain its negative perspective over the banking system in Romania for the next 12 to 18 months, due to still harsh economical conditions, which will require further high provisions and will lead to low profitability. (Source: Mediafax) [...] >> mai mult >>
aprilie 27, 2010
GDP budget deficit settles at 1.8% in Q1’10.
According to finance minister Sebastian Vladescu, the budget deficit reached RON7.9bn in the first quarter of the year, namely 1.8% of the 2010 estimated GDP, below the RON8.2bn threshold set under the IMF agreement. The budget deficit for end-2010 was set by IMF to 5.9% of GDP, with economic growth [...] >> mai mult >>
aprilie 27, 2010
The Ministry of Public Finance sold RON980m in 6 month T-bills.
The Ministry of Finance sold RON979.8m in 6 month Treasury bills at an average yield of 5.74%, down from 6.73% in the previous auction on March 8, as overall demand from the banks stood at RON3.6bn. The steep declined in the yield was probably due to expectations for further monetary policy rate [...] >> mai mult >>
aprilie 26, 2010
IMF to identify clear measures for fiscal consolidation.
In order to urge more visible fiscal consolidation measures, IMF will discuss with the Government regarding more concrete steps for fiscal consolidation and cutting public spending, like budget deficit correction and hiking VAT rate. (Source: ZF) >> mai mult >>
aprilie 26, 2010
BCR to raise its share capital.
Romanian Commercial Bank’s shareholders approved to increase the share capital by RON0.24m to RON1.03bn, by incorporating a part of 2009 net profit, its face value reaching RON1.3/share from RON1/share. (Source: BMedia) >> mai mult >>
aprilie 23, 2010
Russian Mechel Group took over Laminorul Braila.
Russian steel group Mechel announced it has acquired Austrian Donau Commodities for EUR9.4m, thus taking over the steel processing Laminorul Braila (LMRU), with a market capitalization of EUR4m. (Source: IntelliNews) [...] >> mai mult >>
aprilie 23, 2010
South Stream pipeline to pass through Romania.
According to Economy Minister Adriean Videanu, Romania will participate in the South Stream gas pipeline project, sustained by Russia and Italy, therefore Romania is now an important player on the market, being involved in all projects regarding gas transit in south Europe, such as AGRI [...] >> mai mult >>
aprilie 23, 2010
The Ministry of Public Finance sold RON700m in 7Y benchmark bonds.
The Ministry of Finance sold RON700m in 7Y benchmark bonds at an average yield of 7.02%, while overall demand from the banks stood at RON1.76bn. In the past several auctions, bond yields have dropped following National Bank’s monetary policy rate cut, thus the Ministry of Public Finance raised [...] >> mai mult >>
aprilie 22, 2010
Pharmaceutical producer Biofarm switched to a RON19.6m NP in 2009, after recording a RON21.31m loss in 2008, and estimates a 31% lower profit in 2010, of RON13.48m. (Source: Biofarm) [...] >> mai mult >>
aprilie 22, 2010
IMF expects Romania’s 2011 GDP growth to be the highest in EU.
According to Mediafax, citing IMF’s World Economic Outlook report, the institution sees a 5.1% GDP increase in Romania in 2011, the highest in the European Union, after revising downward the economic growth for 2010 from 1.3% to 0.8%. (Source: Mediafax) [...] >> mai mult >>
aprilie 21, 2010
Fitch revised Bucharest’s outlook from negative to stable.
Fitch rating agency affirmed Bucharest’s long-term foreign debt rating to BB+ and local currency debt rating to BBB-, associated with a stable outlook, while the short-term foreign currency rating was affirmed at B, as Romania’s outlook was revised in February to stable from negative, by [...] >> mai mult >>
aprilie 20, 2010
Condmag announced the signing of a RON19m contract with gas transmission company Transgaz for repair works on a pipeline section, which should take about 8 months for its completion. (Source: SeeNews) >> mai mult >>
aprilie 20, 2010
IMF’s forth assessment mission starts on April 27.
In order to prepare the quarterly report on Romania’s Economic Program, missions from IMF, EU and World Bank will be visiting Bucharest during April 27 - May 7, after which the fifth tranche of the IMF loan shall be transferred (EUR 0.85bn), if the report is approved. The mission will discuss [...] >> mai mult >>
aprilie 16, 2010
According to OMV Trading Statement, the Q1’10 gas production in OMV Petrom stayed flat compared to Q4’09, thus lower YOY; the oil production in OMV Petrom also posted a slight drop, due to severe winter weather conditions. The Romanian regulated gas price for producers in RON remained [...] >> mai mult >>
aprilie 16, 2010
The Government to sell off stakes held in Petrom, Transelectrica, Transgaz.
The government plans to sell off stakes in key energy companies, including Petrom (12.64% stake for EUR600m), Transelectrica (15% stake for EUR53.6m), Transgaz(15% stake for EUR107m), as well as in Conpet, Oil Terminal, RomGaz, EON, Enel, and hopes to obtain EUR1bn in proceedings. (Source: [...] >> mai mult >>
aprilie 16, 2010
IMF reduced its expectations regarding GDP growth from 1.3% to 0.8% YOY for 2009.
According to Mihai Tanasescu, Romania’s representative to the IMF, the institution decided to cut the estimations of 2009 GDP growth from 1.3% to 0.8%-1% YOY (best case scenario). He also stressed that the government should concentrate on the budget execution. (Source: IntelliNews) [...] >> mai mult >>
aprilie 15, 2010
Romania’s industrial production drops 2.5% MOM in February, compared to EU27’s hike of 0.7%.
According to Eurostat, industrial production in Romania ranked 4th among the largest falls of EU Member States on a monthly basis, while on a yearly basis Romania recorded a 0.4% YOY decrease after three consecutive months of significant growth, compared to a 3.5% average increase registered in [...] >> mai mult >>
aprilie 15, 2010
Petrom announced it took over SC Wind Power Park SRL which owns a wind power generation project in Dobrogea with a designated capacity of 45 MW, in order to extend its projects portfolio of power production projects. (Source: Petrom) >> mai mult >>
aprilie 15, 2010
SIF MUNTENIA (SIF4, SIF4.RO, SIF4.BX): SIF Muntenia subscribed RON5.15m in SC Semrom Oltenia SA.
SIF Muntenia announced its subscription of 2.06m shares (face value of RON2.5/share) worth RON5.15m, in SC Semrom Oltenia SA’s (SEOL) share capital increase. (Source: SIF Muntenia) >> mai mult >>
aprilie 14, 2010
SSIF BROKER Cluj (BRK, BRK.RO, BRK.BX): SSIF Broker reduced its stake in Cemacon Zalau to 10%.
SSIF Broker sold a 1% stake in Cemacon Zalau (CEON), construction material producer, for RON 0.38m, after the stock’s closing price jumped 41% in the last seven trading sessions, as it started trading on the Tier II of the Bucharest Stock Exchange. (Source: SSIF Broker, Bursa Newspaper) [...] >> mai mult >>
aprilie 14, 2010
The short term debt reached EUR14.6bn at end-February (down 28% YOY, up 7% MOM).
The medium and long term external debt reached EUR67.74bn, rising by 32% YOY (up 5.5% MOM), covering 82.3% of the total external debt, at the end of February. The total external debt rose 14.8% YOY (up 5.8% MOM) to EUR82.35bn. (Source: BNR) >> mai mult >>
aprilie 14, 2010
In the first two months of 2010, the current account deficit widened by 64.27% YOY to EUR754m, mainly driven by the 68.5% YOY drop in current transfers surplus. FDIs shrunk to EUR466m in Jan-Feb, 2.8 times lower YOY, covering 61.8% of the CA gap; FDIs were carried under the form of equity [...] >> mai mult >>
aprilie 14, 2010
Foreign trade deficit narrows by 50% YOY to EUR572m.
The FOB-FOB trade deficit narrowed by 50.7% YOY to EUR572m in January-February, due to faster recovery in exports vs. imports that are still facing the effect of a weak domestic demand. Thus, exports strengthened by 23% YOY to EUR2.56bn in February, according to the National Institute of Statistics. [...] >> mai mult >>
aprilie 13, 2010
March 2010 inflation stood at 0.22% MoM.
In annualized terms, the inflation moderated to 4.2% YOY from 4.5% YOY in February, consequence of 14.56% YTD increase in tobacco prices on excise duties hike, as well a 4.2% YTD increase in the price of the electricity. The monthly inflation reached 0.22%, influenced by car fuel prices which posted [...] >> mai mult >>
aprilie 13, 2010
On Monday, the total bids offered by the banks accounted for RON3.17bn, the Ministry of Public Finance raising some RON1.49bn, 15% over the planned amount of RON1.3bn. Therefore, the cost of domestic public debt keeps decreasing, despite the rise in the 3Y bond’s yield last week that was [...] >> mai mult >>
aprilie 12, 2010
February 2010 trade deficit narrowed by 34.09% YOY to EUR593.4m.
FOB-CIF trade deficit shrinked 34.09% YOY in February to EUR593.4m, based on the preliminary data from INSSE. Exports increased by 23% YOY (in EUR terms), accelerating from a 20% YOY increase in January, while imports grew by 7.1% YOY (in EUR terms). The exports outside the European Union advanced [...] >> mai mult >>
aprilie 12, 2010
IMF sees a slight recovery of Romania’s H2 GDP.
According to IMF desk chief Jeffrey Frank, Romania’s GDP will register a 1% recovery in the second half of 2010, while the institution sees a 1.3% YOY GDP growth for the entire year, due to short term economic indicators which point to a recovery of the Romanian economy. (Source: IntelliNews, [...] >> mai mult >>
aprilie 9, 2010
The companies Dafora and Hidroconstructia started the water network rehabilitation and expansion project for Medias town, the value of the project amounting to RON 67.2m (EUR 16m), out of which RON 54.3m come from the European Union through the Cohesion Fund. (Source: Mediafax) >> mai mult >>
aprilie 9, 2010
Bucharest Stock Exchange to be listed within two months.
According to BSE’s General Manager Anca Dumitru, in approximately two months the BSE should be listed on its own trading system, although the term given by the BSE management was set to 90 days from the election of the intermediate chosen for the listing of BSE’s shares. (Source: [...] >> mai mult >>
aprilie 9, 2010
Unemployment rate reached 8.36% in March.
According to the National Employment Agency, the unemployment rate stood at 8.36% in March, versus 8.30% in February and 5.60% in March 2009. (Source: Agerpres) >> mai mult >>
aprilie 9, 2010
Unemployment rate reached 7.5% in Q4’09.
According to the National Institute of Statistics, the unemployment rate reached 7.5% in the fourth quarter of 2009 (5.8% in Q4’08) under the local methodology, while the same value was obtained for Q4’09 using the ILO methodology, except in Q408 the unemployment rate reached 4.2% under [...] >> mai mult >>
aprilie 9, 2010
ELECTROMAGNETICA Bucuresti (ELMA): Electromagnetica to invest in hydro-power plants over EUR 10m.
The company announced its intention of investing EUR 10m for building a micro hydroelectric power plant and for upgrading another plant based in Suceava County. The announced investment amount exceeds by 29.9% the budgeted amount of EUR 7.7m, recently approved by the shareholders. (Source: ZF, [...] >> mai mult >>
martie 30, 2010
The National Bank cut the monetary policy rate to 6.5% from a previous 7.0%, starting March 30.
In its meeting of March 29, 2010, the National Bank of Romania cut the monetary policy rate to 6.5% from a previous 7.0%, starting with March 30, 2010. At the
same time, the minimum reserve requirements have been kept unchanged for both RON and FCY denominated liabilities at 15% and 25% [...] >> mai mult >>
same time, the minimum reserve requirements have been kept unchanged for both RON and FCY denominated liabilities at 15% and 25% [...] >> mai mult >>
martie 30, 2010
TRANSGAZ Medias (TGN, TGN RO, TGNM.BX): 29 March SGA meeting details.
On the SGA of 29 March shareholders approved the procedures for obtaining the necessary government guarantees to finance the Nabucco project as well as the content of the necessary documents to initiate this procedure as follows (i) Draft Memorandum for the construction of the natural gas [...] >> mai mult >>
martie 29, 2010
Petrom called ESGM on April 29, for the approval of a RON201.86m (EUR49.6m) share capital increase through rights issue and in kind contribution. Thus, the company will issue 416m new shares with a par value of RON0.1 through the incorporation of the value of some land plots, which will be [...] >> mai mult >>
martie 29, 2010
Management proposed FY09 gross dividend of RON0.05/share (-83% YOY), implying a net dividend yield of 0.2%. The proposed registration date is May 17. For this year, the company budgeted a net profit of RON4.4m (-28% YOY). Shareholders will give their approval on the SGA of April 29. (Source: BSE) [...] >> mai mult >>
martie 29, 2010
The Rompetrol Group (TRG) has increased its stake in Rompetrol Rafinare to 98.6% from a previous 76% following the completion of the takeover offer and can further proceed with the delisting of the company. Within the public offer run between February 15 and March 26, TRG has acquired a 5.38% stake, [...] >> mai mult >>
martie 26, 2010
Banca Transilvania has called for a shareholders assembly on April 28 in order to approve a share capital increase of RON391.58m (EUR95m). The bank will issue 271.58 bonus shares through the incorporation of reserves and share premiums and 120 new shares at RON1/share. On the agenda of the meeting [...] >> mai mult >>
martie 26, 2010
BRD-GSG Bucuresti (BRD, BRD.RO, BRDX.RO): BRD proposed FY09 gross dividend of RON0.27947/share.
BRD-GSG Bucuresti (BRD, BRD.RO, BRDX.RO): BRD proposed FY09 gross dividend of RON0.27947/share (-61.6% YOY), implying a net dividend yield of 1.53%. The agenda of the meeting scheduled on April 27 also includes the approval of max. EUR600m bonds issue during 2010/2011. The proposed registration date [...] >> mai mult >>
martie 26, 2010
The general government deficit reached 1.1% of FY(10E) GDP.
The general government deficit reached 1.1% of FY(10E) GDP, to RON5.8bn (EUR1.4bn) (+74.5% YOY), at the end of February. (Source: Ziarul Financiar) >> mai mult >>
martie 26, 2010
SIF OLTENIA Craiova (SIF5, SIF5.RO, SIF5.BX): SIF Oltenia has been reported with a 20.18% stake in Biofarm. (Source: BSE) >> mai mult >>
martie 26, 2010
Property Fund management mulls the listing of the Fund in September.
According to the local media citing Franklin Templeton Asset Management (FTAM) CEO Mark Mobius, the Fund might be listed on the local stock exchange in September if the handover procedures are finalized by July. Moreover, the Fund’s shares will also be listed on London exchange through an IPO [...] >> mai mult >>
martie 25, 2010
SIF Banat-Crisana (SIF5): SIF5 acquired a 3% stake in Biofarm.
SIF5 acquired yesterday another 3% in Biofarm Bucuresti (BIO) for RON 6.85m (EUR 1.67m), raising its stake to 20%. The seller has not been disclosed yet. (Source: ZF) >> mai mult >>
martie 25, 2010
Transgaz Medias (TGN): S&P revised Transgaz outlook from negative to stable.
S&P affirmed long-term local currency corporate credit ratings of ‘BBB-’, and ‘BB+’ for foreign currency, following Romania’s stable outlook, on the back of successful fiscal program implementation, while the stable outlook of Transgaz reflects S&P’s [...] >> mai mult >>
martie 25, 2010
The stock of bank loans narrowed by 3.7% YOY to RON199.2bn (EUR48.5bn) at the end of February.
The stock of bank loans narrowed by 3.7% YOY to RON199.2bn (EUR48.5bn) at the end of February, vs. a negative growth of 3.5% YOY one month before. The stock of forex loans (in EUR terms) increased for the third month in a row (by 1% MoM (+1.5% YOY) to EUR29.1bn at the end of the month, while in RON [...] >> mai mult >>
martie 25, 2010
Government credit rose by 105% YOY to RON50.9bn (EUR12.4bn) at the end of February.
Government credit rose by 105% YOY to RON50.9bn (EUR12.4bn) at the end of February, vs. 301% YOY in last July with monthly increase in absolute figures at approx. half of the same period last year. (Source: BNR, Intellinews) >> mai mult >>
martie 25, 2010
The Central Bank has confirmed year-end inflation target at 3.5% YOY.
The Central Bank has confirmed year-end inflation target at 3.5% YOY, according to the central bank’s deputy governor Cristian Popa, stressing that the inflation would fall below the centre of the inflation targeting band in 2011. Recently, the Central bank has upped FY10 inflation projections [...] >> mai mult >>
martie 25, 2010
The Government has approved the Convergence Programme.
The Government has recently approved the 2009-2012 Convergence Programme which aiming at keeping the fiscal deficit below 3% of the GDP on the medium term, thus maintaining the fiscal sustainability. Recall that countries members of the euro area draft stability programmes on a yearly basis while [...] >> mai mult >>
martie 25, 2010
SIF Muntenia Bucuresti (SIF4, SIF4.RO, SIF4.BX): SIF Muntenia was reported with a 5.12% stake in Broker Cluj. (Source: BSE) >> mai mult >>
februarie 10, 2010
Financial Investment Companies (SIFs): Ownership threshold update.
The Economic Policy, Reforms and Privatisation Committee issued a negative notice upon the SIFs ownership threshold. Notable to mention that the Committee has only a consultative role same as well as the Legal Committee, which favorably passed the draft on February 2. The draft will be subsequently [...] >> mai mult >>
februarie 10, 2010
Worth to mention the 19% YOY recovery of exports in December, disregarding the low base effect impact. (Source: Ziarul Financiar, INSSE) >> mai mult >>
februarie 10, 2010
News is neutral as it was previously disclosed by the management. (Source: BSE) >> mai mult >>
februarie 9, 2010
The offer will be held between 15 February and 12 March. The stock will resume trading today after being suspended since January 27. The bid price offers an upside of c20% against last closing price. (Source: BSE) >> mai mult >>
februarie 9, 2010
FY09 banking system return on equity reached 2.73% vs. 17.04% a year earlier.
FY09 banking system return on equity reached 2.73% vs. 17.04% a year earlier, mainly impacted by the large provisions booked on the back of sharp deterioration in asset quality; overall capital adequacy ratio maintains satisfactory at 14.03% against BNR requirements of 8%. (Source: BNR) >> mai mult >>
februarie 9, 2010
According to IMF estimates, the unemployment rate is expected to reach 10% in 2010, albeit it is expected to drop in the second half of the year following assumption for economic rebound. (Source: ANOFM). >> mai mult >>
februarie 9, 2010
Romania could shift to ”precautionary” deal with IMF.
According to finance minister Sebastian Vladescu, Romania deems that Romania could shift to a “precautionary” arrangement with IMF following the next evaluation that should point economic recovery. Nonetheless, it has also been reckoned that at this stage it is still too early to [...] >> mai mult >>
februarie 9, 2010
The European Commission announced it has advanced 2012 as deadline for Romania to trim its budget deficit below 3% of GDP, provided the country’s efforts to limit the deterioration of its deficit and to conserve macroeconomic stability, stressing that in spite of the deadline one-year [...] >> mai mult >>
februarie 8, 2010
ROMPETROL RAFINARE Constanta (RRC, RRC RO, ROMP.BX): Mandatory takeover issue – update.
KazmunaiGaz has submitted the new bid price for the mandatory takeover within the requested deadline by National Securities Commission (NSC), according to NSC
representatives. A decision upon the issue should be taken today, following the subsequent meeting scheduled. (Source: Ziarul Financiar) [...] >> mai mult >>
representatives. A decision upon the issue should be taken today, following the subsequent meeting scheduled. (Source: Ziarul Financiar) [...] >> mai mult >>
februarie 8, 2010
Central Bank end-2010 CPI prognosis stands at 3.5% YOY.
The Central Bank hiked the end-2010 CPI prognosis to 3.5% from a previous 2.6%, while for 2011 it estimates inflation at 2.7%, stressing that the main factor which has determined the estimates rise was incorporated by the increase in tobacco excise duties. At the same time the inflation target for [...] >> mai mult >>
februarie 8, 2010
Thus, SIF Oltenia increased its stake in Electromagnetica to 12%. (Source: Ziarul Financiar) >> mai mult >>
februarie 8, 2010
Provided the small nature of the transaction, impact on NAV should be minimal. (Source: Ziarul Financiar) >> mai mult >>
februarie 8, 2010
The scheduled value of the auction was RON500m and has been oversubscribed by 3.25x. (Source: BNR) >> mai mult >>
februarie 8, 2010
Fitch revised the rating of four Romanian banks.
Fitch rating agency has revised the rating of four Romanian banks, namely BRD – Groupe Societe Generale, Unicredit Tiriac Bank and Banca Romaneasca, bu changing their outlook to “stable” from a previous “negative”, following a similar action undertaken for the [...] >> mai mult >>
februarie 4, 2010
The National Bank cut the monetary policy rate to 7% from a previous 7.5%.
In its meeting of February 3, 2010, the National Bank of Romania cut the monetary policy rate to 7% from a previous 7.5%, starting with February 4, 2010. At the same time, the minimum reserve requirements have been kept unchanged for both RON and FCY denominated liabilities at 15% and 25% [...] >> mai mult >>
februarie 4, 2010
ROMPETROL RAFINARE Constanta (RRC, RRC RO, ROMP.BX): Mandatory takeover issue – update.
The National Securities Commission (NSC) has extended until 5th of February the deadline at which The Rompetrol Group has to submit a new bid price for the mandatory takeover offer that has to be launched. The stock is currently suspended from trading until NSC will process the required [...] >> mai mult >>
februarie 4, 2010
Negotiations on Nabucco’s financing will start next month.
The negotiations regarding the financing of the Nabucco project are scheduled to start next month with a couple of financial institutions that are willing to supply funds, according to the media. Discussions on the same topic have already started with institutions like BEI, BERD or IFC (investment [...] >> mai mult >>
februarie 3, 2010
ROMPETROL RAFINARE Constanta (RRC, RRC RO, ROMP.BX): Mandatory takeover issue – update.
The media reports that The Rompetrol Group has sent to the National Securities Commission (NSC) an official letter mentioning the NSC points of view has been taken into consideration and a solution will be found as soon as possible. Recall that The Rompetrol Group has failed to submit until 1st of [...] >> mai mult >>
februarie 3, 2010
This is the first entity within the Chamber of Deputies that has to give its opinion and subsequent approval/rejection on the draft law, which has also to be debated by the Economic and Budget and Finance Committees, the later having a conclusive role. Furthermore, if approved by both, it follows to [...] >> mai mult >>
februarie 3, 2010
Fitch improved Romania’s rating to stable.
Fitch, financial rating agency, has improved Romania’s rating to “stable” from a “negative” and confirmed the rating for foreign and national currency long-term debts to “BB+” and “BB-” respectively. This has been mainly attributed to improvement [...] >> mai mult >>
februarie 1, 2010
FY09 net asset value per share was up 23% YOY to RON1.17bn. The low profitability increase was due to 2x YOY rise in expenditures vs. a 36% YOY surge in revenues. News is neutral as it was previously disclosed with December 2009 NAV release. (Source: SIF Moldova) >> mai mult >>
februarie 1, 2010
The Government has mandated the Selection Committee president Enache Jiru to sing the administration contract with Franklin Templeton in the SGA meeting which is due for February 10. Franklin Templeton (FT) was appointed as asset manager of Property Fund in June this year but it has not been fully [...] >> mai mult >>
februarie 1, 2010
Overdue payments rise to 2.9% of total bank loans at the end of 2009.
The overdue payments on bank loans increased to 2.9% of total bank loans at the end of 2009, according to the data of the central bank. Thus, overdue payments reached Ron7.8bn (EUR1.85bn), or 3.9% as a percentage of stock of loans. (Source: BNR) >> mai mult >>
februarie 1, 2010
The Finance Ministry plans to sell RON3bn in February in state bonds.
The Ministry of Finance plans seeks on the money market cRON3bn in February as it has planned for the month 4 auctions for discount T-bills worth RON2bn on 1, 8, 15 and 22 of February; at the same time, 2 other auctions for benchmark T-bonds maturing in 3 and 5 years respectively will be launched on [...] >> mai mult >>
februarie 1, 2010
EU27 unemployment rate reached record high of 9.6% in December 2009.
According to Eurostat, EU27 unemployment rate reached 9.6% at the end of December 2009 vs. 9.5% in November 2009 and 7.6% a year earlier. Romania unemployment rate stood at 7.8% in December 2009. (Souce: Eurostat) >> mai mult >>
februarie 1, 2010
Sales of pharmaceutical medicines advanced by 3.1% YOY (in EUR terms) in 2009 vs. 9.7% YOY (in EUR terms) in 2008, affected by poor financing of the healthcare system and lower purchasing power of the households on rising unemployment. In local currency, sales added 18.5% YOY vs. 20% YOY in 2008, [...] >> mai mult >>
ianuarie 28, 2010
NSC has announced that it has rejected the bid price submitted by The Rompetrol Group (TRG) within the mandatory public tender offer for Rompetrol Rafinare, namely RON0.0625/share. According to NSC regulations, the price should be at least equal to the net asset value/share of the last audited [...] >> mai mult >>
ianuarie 28, 2010
ianuarie 28, 2010
Petrom announced the company will consolidate the sales activities within the gas division of Petrom into Petrom GAS SRL, company fully owned by Petrom. According to the company, the change will not carry a material impact on its financial statements. (Source: OMV Petrom) >> mai mult >>
ianuarie 28, 2010
ianuarie 28, 2010
SIF OLTENIA Craiova (SIF5, SIF5 RO, SIF5.BX): SIF Oltenia increased its stake in Electromagnetica to over 11% following the acquisition of 3m shares at a price of RON0.42. The trade is immaterial to provide any NAV impact. (Source: BSE) >> mai mult >>
ianuarie 28, 2010
In addition, Romania’s macroeconomic outlook is seen improving due to the stronger external demand while FY09 GDP drop is seen at c7% YOY and FY10 growth at 1.3% YOY. FY10 budget deficit has been revised to 5.9% of GDP. (Source: Ziarul Financiar) >> mai mult >>
ianuarie 28, 2010
Non-government credit drops 0.5% MoM at the end of December 2009 (-0.8% MoM in real terms).
The non-governmental credit dropped by 0.5% MoM (-0.8% in real terms) in December alone while advancing by 0.9% YOY (-3.6% YOY in real terms). RON denominated non-governmental credit dropped 0.3% MoM (-0.6% in real terms) and lost 4.7% YOY while FX loans lost 0.6% and added 5% YOY. On the opposite [...] >> mai mult >>
ianuarie 28, 2010
The Rompetrol Group (TRG) will run between 3 and 23 February a mandatory public tender offer in Rompetrol Well Services worth RON57.1m (EUR13.9m) for a stake of 47.73%; the bid price offers an upside of c7% against last closing. The stock resumes trading today. (Source: BSE) >> mai mult >>
ianuarie 27, 2010
Transelectrica has announced 2010 capex at similar levels with 2009 investments, namely cRON400/500m, while financing will be c70% secured through bank loans. Since no other details were provided, we see this piece of news as neutral as it overlaps with our capex assumptions for 2010. A loan of [...] >> mai mult >>
ianuarie 27, 2010
SSIF BROKER Cluj Napoca (BRK, BRK.RO, BRKU.BX): FY09 net profit of RON4.9m (EUR1.16m).
SSIF Broker has announced for FY09 a net profit of RON4.9m (EUR1.16m) following the cancellation of some provisions from 2008 for assets’ depreciation. The budgeted profit for 2009 stood at cRON0.85m; no other details for 2009 financial indicators were provided. (Source: Ziarul Financiar) [...] >> mai mult >>
ianuarie 26, 2010
The Economist eyes Romania’s FDI inflows worth USD8bn in 2010.
Economist Corporate Network, part of The Economist Group estimates Romania’s FDI inflows at cUSD8bn for 2010 and USD11bn in 2011. Moreover, FY10 GDP growth is seen at c1% in the context of a fragile economic growth in the Euro-zone as well, while it does not see any large potential either [...] >> mai mult >>
ianuarie 26, 2010
According to the local media, citing Tudor Serban, state secretary, the European Commission insisted Romania has to liberalize gas prices with a potential start date from April, stressing that low-income population will still benefit from subsidies. ANRE, market watchdog, did not provide with any [...] >> mai mult >>
ianuarie 26, 2010
Average yield for 6M T-bills lowers to 7.88% per year.
The government has organized yesterday an auction for 6M T-bills for an overall amount of RON1bn with an accepted maximum average yield of 7.99% while the average yield dropped to 7.88%. The offer was oversubscribed by 3.4x at RON3.4m, while there have been accepted requests only within the targeted [...] >> mai mult >>
ianuarie 26, 2010
Banca Carpatica proposes to its shareholders the approval of a RON103.45m cash share capital increase in order to secure bank’s capitalization for a better response to macroeconomic and systemic risks as well as further support to banks’ business lines. Thus, the bank will issue 1.034bn [...] >> mai mult >>
ianuarie 26, 2010
SIF Banat Crisana (SIF1, SIF1.RO, SIF1.BX): SIF Banat –Crisana annouced the sale of 0.72m shares in Teraplast (TRP) at a price of RON0.64m (overall transaction value of RON0.46m). (Source: BSE) >> mai mult >>
ianuarie 26, 2010
Financial Investment Companies (SIFs): SIFs threshold update.
According to recent newsflow, SIFs 5% threshold follows to receive favorable approval from the Legal Committee this week while the draft law will most probably be discussed within the Budget&Finance Committee between 7/15 February. Thus, the draft law is expected to reach the plenum of the [...] >> mai mult >>
ianuarie 25, 2010
The Treasury plans to launch the EUR1bn Eurobond in Q110.
The government will launch in Q1 an Eurobond issue worth up to EUR1bn according to Bogdan Dragoi, head of Treasury. The issuance, along with part of the 3rd and 4th tranches from the IMF by the end of February, is meant to secure the budget financing. Separately, the EU will also grant some EUR1bn [...] >> mai mult >>
ianuarie 25, 2010
FY09 RAS net cumulated profits in the banking system reached RON800m (EUR189m), 6x. lower YOY.
The local banking system posted FY09 RAS cumulated net profits of RON800m (EUR189m), c6x lower YOY, according to the Mr. Nicolae Cinteza, head of Central Bank Surveillance Body. With regard to Q409 profitability Mr. Cinteza has mentioned that the banks continued to book in profits albeit lower. [...] >> mai mult >>
ianuarie 23, 2010
The Ministry of Public Finance sold RON500m in 3Y benchmark bonds.
The Ministry of Finance sold RON500m in 3Y benchmark bonds at an average yield of 8%, the lowest since 2007. Overall demand from the banks stood at RON3.78bn. This was a reopening of a 3Y bond issue from February 2008. In the past several auctions, bond yields have dropped continuously following [...] >> mai mult >>
ianuarie 23, 2010
World Bank estimates Romania’s FY10 GDP growth at c0.5%.
The World Bank eyes FY10 Romania’s GDP growth at c0.5% vs. the FY09 decline of 7.8%, while seeing world growth at c2.7%, however insufficient to absorb the unemployment. Romania specifically, FY10 CA gap is expected at 4.9% of GDP vs. 4.2% in 2009. For 2011, Romania’s GDP growth is [...] >> mai mult >>
ianuarie 23, 2010
IMF reviews SBA agreement conditions, budget deficit target remains in place.
The Government has received an official letter from the IMF including some other measures compared to the ones stipulated in the already signed agreement, thus implying a revision of the specified targets, according to the Minister of Finance Sebastian Vladescu. Moreover, none of the new conditions [...] >> mai mult >>
ianuarie 21, 2010
Adrian Baicusi, company CEO, released for the media that FY09 operating revenues dropped by 10% YOY due to 8.3% lower energy consumption and a 43.9% drop in electricity exports. We view this piece of news as neutral since our estimates imply a 12% YOY reduction in revenues. (Source: Bursa) >> mai mult >>
ianuarie 21, 2010
OMV PETROM (SNP, SNP RO, SNPP.BX): OMV hopes to run Petrom’s share capital increase in 2010.
OMV’s chief executive Wolfgang Ruttenstorfer has declared that OMV hopes to inject additional equity into Petrom in 2010 being ready for such action at any point in time, maintaining Romania as a highly attractive investment area. News was previously disclosed. (Source: Ziarul Financiar) [...] >> mai mult >>
ianuarie 13, 2010
New industrial orders declined by 18.5% during January – November 2009.
According to the National Statistics Institute, new industrial orders as a whole (internal and foreign market) declined in nominal terms by 13.2% MoM and 6.8% YOY, in November alone, while during January- November 2009 the drop reached 18.5%. Thus, in November alone new industrial orders in the [...] >> mai mult >>
ianuarie 13, 2010
FY09 annualized inflation dropped to 4.74% vs. 6.3% in 2008.
2009 annualized inflation stood at 4.74% compared to 6.3% in 2008, c0.24% above BNR’s target for the year (3.5% with a variation level of +/-1%). According to BNR officials, excluding the impact of rise in excise duties, the Fy09 annualized inflation would have reached 2.97%, below the 3.5% [...] >> mai mult >>
ianuarie 5, 2010
Transelectrica increased electric power transport average tariff by 5.4% starting January 1st 2010.
According to Transelectrica, Romania’s Energy Regulatory Authority ANRE approved the hike of electric power transport average fee by 5.39%, to RON 17/MWh. ANRE also agreed with the 2.99% rise in the system service tariff, while the fee for the services provided by the Romanian power exchange [...] >> mai mult >>
