Știri

august 22, 2016

RO Banks:

H1'16 net profit for the banking sector reported at RON 2.4bn (EUR 530m) due to better asset quality, decline in cost of funding & improvement in NPLs formation, but also including gains on VISA transaction - excluding at least some estimated EUR 130m aggregated figure accounting for the latter, [...] >> mai mult >>

august 11, 2016

RO Banks:

BANCA TRANSILVANIA (TLV RO), BRD-GSG (BRD RO): Ministry of Finance to decide in September if Prima Casa program will continue for next year, but considers also some additional funds for the current year - should this program stop, standard mortgage loans will be encouraged and will require some [...] >> mai mult >>

august 9, 2016

Ministry of Finance borrowed RON 300m in 6M treasury bills at an avg. record low yield of 0.43%. (Source: mfinante.ro)

august 4, 2016

Coface on Romania

Coface improved the rating for Romania's business environment from ‘B' to ‘A4' - investment grade, based entirely on improvement on consumption side, but sees no better investments coupled with consumption evolution. (Source: zf.ro) >> mai mult >>

august 2, 2016

Romania FX reserves

July international foreign reserves of Romania (FX and gold) reached EUR 36.6bn or some EUR 930m, up 2.77% MoM, following EUR 1.1bn inflows into EU account (EUR 983m), changes in FX reserve requirements of banks and unchanged 103.7 tonnes in gold stock at slightly higher value of EUR 4bn (+1.52% [...] >> mai mult >>

august 2, 2016

TRANSELECTRICA (TEL RO):

ANRE approved RON 5bn 10Y grid development plan. Among main development lines were included the extension of the Power Transmission Grid by building new lines and by refurbishment of existing stations; the growth of the interconnection capacity, the growth of the transmission capacity between the [...] >> mai mult >>

august 2, 2016

SIF OLTENIA (SIF5 RO):

SIF OLTENIA (SIF5 RO), TRANSELECTRICA (TEL RO): SIF Oltenia reported a 4.93% stake in Transelectrica. (Source: bvb.ro) >> mai mult >>

iulie 29, 2016

BURSA DE VALORI BUCURESTI (BVB RO): New operations possible starting August 2, 2016:

Bucharest Stock Exchange (BVB) announces the possibility to carry out lending&borrowing operations, short selling and buying on margin starting from August 2, 2016, Thus, from the BVB's Rulebook, the operational and technical restrictions applicable to short selling were eliminated. Among the [...] >> mai mult >>

iulie 28, 2016

FONDUL PROPRIETATEA (FP RO):

FONDUL PROPRIETATEA (FP RO): Approval of the public tender offer in relation to the acceleration of the sixth buy-back programme - purchase price is RON 0.8420 (+7.7% against last closing price) and USD equivalent of RON 42.10 per GDR; subscription period between 03 August and 07 September, with the [...] >> mai mult >>

iulie 26, 2016

TRANSELECTRICA (TEL RO)

TRANSELECTRICA (TEL RO): 30(31) August EGSM agenda - reduction of share capital by RON 1.08m representing the share capital subscribed and paid by ICEMENERG subsidiary by diminishing the state participation into the share capital of TEL; state participation will be reduced to 58.627% vs. 58.688%; [...] >> mai mult >>

iulie 26, 2016

SIF BANAT CRISANA (SIF1):

SIF BANAT CRISANA (SIF1 RO): 29(30) August EGSM agenda - reducing the number of BOD members from 7 to 5; elected for a period of 4 years with the posibility of being reelected. Registration date is September 15, ex-date is September 14. (Source: bvb.ro) >> mai mult >>

iulie 25, 2016

Fitch on local banks:

Romanian banks are well capitalized (sector capital adequacy ratio 19.5%, 1Q16) and profitable (RoE 12.8% in 2015) and remain sufficiently funded by local deposits and their balance sheets are gradually improving as the share of NPLs continues to decline. Main sector uncertainties arise from the [...] >> mai mult >>

iulie 14, 2016

FP NAVPS June

FONDUL PROPRIETATEA (FP RO): June NAVPS reported at RON 1.1445 (+5% MoM, -3% Y/Y), share price discount to NAV at 33.5% – net cash and receivables at 10.87% of NAV, following sale of 1.53% stake in BRD and 2.77% in TLV – computed based on March holdings. Banks currently weight some [...] >> mai mult >>

iulie 13, 2016

FP urges Salrom listing

FONDUL PROPRIETATEA (FP RO): FP mulls a new CEO for Salrom to propose and implement a sustainable development plan including a medium and long term strategy centered on improving the company’s financial statements. FP encourages Ministry of Energy to support this potential IPO due to both [...] >> mai mult >>

iulie 12, 2016

FONDUL PROPRIETATEA (FP RO): BNY Mellom DRS New York holds 33.33% in FP’s share capital. (Source: bvb.ro)

aprilie 27, 2016

SIF OLTENIA (SIF5 RO):

ASF obliged Erste Group to reduce to 5% its stake in SIF5; Erste Group controls directly and indirectly some 6.43% in SIF5 via its investment arm. (Source: zf.ro) >> mai mult >>

aprilie 27, 2016

OMV PETROM (SNP RO), ROMGAZ (SNG RO): Potential 3M suspension of gas deregulation calendar starting 1st October due to low crude oil&gas prices - gas price for households should increase by 10% to RON 66/MWh based on existing gas price deregulation calend

according to Romgaz representatives, the natural gas market in Romania is not yet prepared for liberalization due to lack of competitive feature (highly concentrated structure with two companies dominating production side - Petrom&Romgaz, which translates into an oligopoly) while current low [...] >> mai mult >>

aprilie 27, 2016

ROMGAZ (SNG RO):

E.ON Energie Romania cancelled RON 281m contract with Romgaz (gas deliveries between April-September for non-households segment of the market), still in place some deliveries worth RON 501m. E.ON stated importing gas is 10% cheaper than buying from Romgaz - the cancelled contract represents some 36% [...] >> mai mult >>

aprilie 27, 2016

HIDROELECTRICA: According to judicial administrator, Hidroelectrica could step out of insolvency around 11th of May, when the last two appeals will receive a solution. (Source: economica.net)

aprilie 27, 2016

FONDUL PROPRIETATEA (FP RO): 26 April O&EGSM resolutions.

Shareholders approved the decrease of share capital from RON 9.32bn to RON 9.17bn by cancelling 179.59m shares, 23 May ex-date and 24 May as registration date, AIFM mandate approved for 2Y. (Source: bvb.ro) >> mai mult >>

aprilie 27, 2016

OMV PETROM (SNP RO): 26 April O&EGSM resolutions

no dividends will be granted for FY'15; approved the extension until 31st December 2017 of the approval previously granted by EGSM on 22 September 2015, regarding secondary listing of OMV Petrom on LSE via GDRs - due to unpredictable market conditions, authorization will be pending approval by [...] >> mai mult >>

aprilie 27, 2016

OMV PETROM (SNP RO):

Rainer Seele, OMV Group CEO, in talks locally with several officials - royalties topic potentially on the agenda; largest part of group capex to be directed to Romania and Austria which secure a cumulated two thirds of group daily production of 300 bbl/day; Neptun block production to start no sooner [...] >> mai mult >>

februarie 18, 2016

OMV PETROM (SNP RO): Q4’15 net profit sharply negative at RON 1.68bn due to higher than implied impairments at RON 2bn (vs. our expectations of RON 1.62bn) and much lower positive impact from Downstream EBIT at an achieved RON 127m.

Upstream EBIT landed negative at RON 2.1bn negatively affected by impairments and special charges of RON 1.88bn, RON 315m in exploration expenses (adj. for depreciation for 2 wells, one offshore and one onshore), despite some positive impact from 29% QoQ lower production cost at USD 12.1/bbl on [...] >> mai mult >>

februarie 18, 2016

BRD-GSG (BRD RO), BANCA TRANSILVANIA (TLV RO):

The Budget and Finance Committee of the Senate rejected the amendments made by the National Bank to the provisions of the debt discharge law, related to the EUR 150,000 ceiling and 65% weight of installment in borrower revenue. Also, according to a decision taken by the Budget&Finance and Legal [...] >> mai mult >>

februarie 3, 2016

BANCA TRANSILVANIA (TLV RO):

According to market sources, Bank of Cyprus retail portfolio related to the recently announced transaction, could worth EUR 2.9m, out of which EUR 1.4m in mortgage loans while EUR 1.5m is represented by consumer loans and credit cards. Additional details upon the transaction are to be released at [...] >> mai mult >>

ianuarie 28, 2016

ROMGAZ (SNG RO): Yesterday’s EGSM resolutions.

Shareholders approved withdrawal of Romgaz from the partnership with Aurelian Oil&Gas Poland and Sceptre Oil&Gas related to the Cybinka and Torzym Poland exploration fields. Registration date is 15 February 2016. (Source: Romgaz) >> mai mult >>

ianuarie 27, 2016

ROMGAZ (SNG RO), OMV PETROM (SNP RO):

Households' gas price technically converged to competitive prices available on main gas hubs (EUR 13.8/MWh or RON 62/MWh), which could end the gas price liberalization calendar from 1st July 2016. According to the gas price liberalization calendar convened with the IMF, gas price for households was [...] >> mai mult >>

ianuarie 18, 2016

SIF TRANSILVANIA (SIF3 RO): December NAV at RON 0.5255/share (+0.5% MoM, +7.8% Y/Y); FY’15 net profit reported at RON 80.87m vs. a loss of RON 2.57m Y/Y. Assuming flat DPS at RON 0.0125/share, payout would reach 34%, DY at 5%. (Source: SIF Transilvania)

ianuarie 18, 2016

FONDUL PROPRIETATEA (FP RO): Acceleration of the sixth buy-back programme by means of a public tender offer – potential price range could be between RON 0.9-1/share, according to the media. (Source: Ziarul Financiar)

ianuarie 18, 2016

State mulls IPO in Posta Romana for its 51% stake, following failure of Bpost privatization attempt. (Source: Bursa.ro)

ianuarie 18, 2016

9M GDP growth reached 3.7% Y/Y, growth rate backed mostly by the 5.6% Y/Y increase in private consumption due to increase in wages, VAT reduction, lowering energy prices, as well as lower interest rates that supported higher lending. (Source: Ziarul Finan

ianuarie 15, 2016

SIF OLTENIA (SIF5 RO):

December NAV at RON 2.8048/share (+1% MoM, +5% Y/Y); FY'15 net profit reported at RON 133m (+42% Y/Y). Last year payout was at 74%, which implies a potential gross DY at 10%, but FY'15 net profitability is 42% Y/Y higher. (Source: SIF Banat Crisana) >> mai mult >>

ianuarie 15, 2016

SIF BANAT CRISANA (SIF1 RO):

December NAV at RON 3.3295/share (+2% MoM, +14% Y/Y); FY'15 net profit reported at RON 90m (-37% Y/Y). For the previous financial year, no dividends were paid, while instead assuming a payout of 30% a potential gross DY would reach at 3%. (Source: SIF Banat Crisana) >> mai mult >>

ianuarie 15, 2016

FONDUL PROPRIETATEA (FP RO): Acceleration of the sixth buy-back programme by means of a public tender offer.

Fondul Proprietatea announced that has submitted for approval to the Financial Supervisory Authority the documentation for a tender offer in order to accelerate the sixth buy-back programme. Under the tender offer, the Fund intends to repurchase up to 430m shares (ordinary and GDRs) - should the [...] >> mai mult >>

ianuarie 14, 2016

OMV PETROM (SNP RO): Changes in the Supervisory Board.

OMV Petrom announced the appointment of Peter Rudolf Zeilinger as member of the Executive Board in charge with Upstream, following Gabriel Selischi's waiver of his mandate. (Source: OMV Petrom) >> mai mult >>

ianuarie 14, 2016

SIF MOLDOVA (SIF2 RO):

December NAV at RON 1.4450/share (+1% MoM, +6% Y/Y); FY'15 net profit reported at RON 115.67m (-50% Y/Y). (Source: SIF Moldova) >> mai mult >>

ianuarie 14, 2016

FONDUL PROPRIETATEA (FP RO):

December NAV at RON 1.1564/share (+4.4% MoM,-4.6% Y/Y); FY'15 net profit reported at RON 785m (December alone loss was at RON 8.39m), down 22.5% Y/Y. (Source: Fondul Proprietatea) >> mai mult >>

ianuarie 13, 2016

FONDUL PROPRIETATEA (FP RO):

Greg Konieczny executive vice-president of Templeton Emerging Markets Group and fund manager of FP publicly declared that Romania needs fiscal easing, lower dividend income taxation as well as no asset tax, while the most attractive sectors for 2016 should be energy, transportation, IT, banks, [...] >> mai mult >>

ianuarie 12, 2016

Ministry of Finance sold RON 300m in 6Y bonds at an average yield of 3.06%; total bids were 2.67x compared to the planned amount. (Source: mfinante.ro)

ianuarie 12, 2016

BANCA TRANSILVANIA (TLV RO), BRD-GSG (BRD RO):

November 2015 banking system NPL ratio dropped 3.4pp Y/Y and 0.4pp MoM to 11.6%, maintaining its declining pattern for the fifth consecutive month. (Source: Ziarul Financiar) >> mai mult >>

ianuarie 12, 2016

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 4-8 January 2016, Fondul Proprietatea repuchased 4.44m ordinary shares and 0.5m equivalent shares of the GDRs repurchased worth RON 3.55m regarding the ordinary shares and RON 0.4m for the equivalent shares of the GDRs. (Source: Fondul Proprietatea) >> mai mult >>

ianuarie 11, 2016

BANCA TRANSILVANIA (TLV RO):

Omer Tetik, CEO of the bank started acquisitions in TLV given recent stock downfall - based on most recent reporting available, TLV CEO holds a stake of 0.0393% in TLV share capital. (Source: Ziarul Financiar) >> mai mult >>

ianuarie 11, 2016

SIF TRANSILVANIA (SIF3 RO):

SGA called for 15th February was revoked by Court - recall that a group of shareholders, both retail and institutionals among which Certinvest Prudent, Certinvest Dinamic, Certinvest XT and Broadhurst Investments Limited, that hold a cumulated 8% stake in the closed-end fund, called for the SGA in [...] >> mai mult >>

ianuarie 11, 2016

FONDUL PROPRIETATEA (FP RO):

Financial Supervisory Authority (FSA) has endorsed the addendum to the Investment Management Agreement concluded between the Fund and the Fund Manager, making several remarks, among which the most important relates to a well-defined strategy, turned to the reinvestment of the funds resulting from [...] >> mai mult >>

ianuarie 8, 2016

FY’15 budget revenues hiked by 8% Y/Y, above expectations.

FY'15 total budget revenues reached RON 196bn, up 8% Y/Y (RON 13.7bn), as VAT collected hiked 12% Y/Y, tax on income contributed by 12% Y/Y, while profit tax income advanced by 13% Y/Y. These increases were put on the back of better than expected economic evolution but also due to higher collection [...] >> mai mult >>

ianuarie 7, 2016

OMV PETROM (SNP), ROMGAZ (SNG RO): Gas price liberalization calendar for non-households could end at July 1st, 2016, as the Russian import gas price reached USD/175 mcm, which translates to around RON 65/MWh, the regulated price calendar. As of July 1st,

ianuarie 4, 2016

Romania must pay EUR 113m in interest and commissions to the European Union (EUR 104m) and World Bank (EUR 9.1m) in 2016 as part of the stand-by loan contracted in 2009.

(Source: bursa.ro) >> mai mult >>

ianuarie 4, 2016

Romania’s finance ministry plans to sell EUR 3bn worth of medium term notes on the foreign markets and RON 48-50bn worth of domestic treasury bills and bonds on the local market in 2016. Romania is rated an investment grade at Baa3 by Moody’s and BBB-

(Source: reuters.com) >> mai mult >>

ianuarie 4, 2016

Romania Government mulls 19% raise in the minimum wage to RON 1,250 from RON 1,050 starting May 1st, 2016, following negotiations with trade unions.

(Source: Ziarul Financiar) >> mai mult >>

ianuarie 4, 2016

BANCA TRANSILVANIA (TLV RO), BRD-GSG (BRD RO): Enforcement of the walkaway law was postponed until December 2016 through a Government Emergency Ordinance approved in late December 2015.

The walkaway law was endorsed by The President Klaus Iohannis in June 2015 and was supposed to be enforced at the end of 2015. (Source: Ziarul Financiar) >> mai mult >>

ianuarie 4, 2016

FONDUL PROPRIETATEA (FP RO): Financial Supervisory Authority approved the IFRS related regulation applicable to entities authorized, regulated and supervised on the financial instruments and investment sector.

The provisions of the regulation are applicable starting with FY'15 annual financial statements to brokerage companies, asset management companies, closed-end investment funds, central depositories, clearing houses and stock exchanges. Main differences among IFRS provisions and Romanian accounting [...] >> mai mult >>

decembrie 22, 2015

BANCA TRANSILVANIA (TLV RO): Banca Transilvania will distribute RON 50m to its employees representing 21.66m shares (0.71% of its share capital). (Source: Banca Transilvania)

decembrie 22, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 14-18 December 2015, Fondul Proprietatea repurchased 10.87m shares (10.72m ordinary shares and 0.15m equivalent shares of the GDRs repurchased). Total value of the transactions reached RON 8.64m (RON 8.53m for ordinary shares and RON 0.12m for equivalent shares of the GDRs repurchased). [...] >> mai mult >>

decembrie 21, 2015

Largest Romania NPLs sale for FY’15.

Unicredit Romania sold EUR 340m in SMEs NPLs for EUR 28m at a discount of 92% to the Polish company Kredyt Inkaso (Source: Ziarul Financiar) >> mai mult >>

decembrie 21, 2015

ROMGAZ (SNG RO), OMV PETROM (SNP RO): Natural gas production will increase by 5.65% over the next four years; imports to remain flat.

According to the National Prognosis Commission, the natural gas production will increase by 5.65% by 2019, from 8.85m bep in FY'15 to 8.9m bep in FY'16 (+0.6% Y/Y), 9m bep (+1.1% Y/Y) in FY'17, 9.15m bep in FY'18 (+1.7% Y/Y), and 9.35m bep in FY'19 (+2.2% Y/Y). Imports instead will remain flat at [...] >> mai mult >>

decembrie 21, 2015

BANCA TRANSILVANIA (TLV RO), BRD-GSG (BRD RO): President Klaus Iohannis send the walkaway law back to the Parliament for reexamination.

The President Klaus Iohannis resend the walkaway law back to the Parliament for further discussions upon its provisions. (Source: Ziarul Financiar) >> mai mult >>

decembrie 21, 2015

Ministry of Energy feels confident upon Salrom listing due to its financial position.

Based on recent media statements, the Ministry of Energy feels confident upon Salrom listing, given the good financial position of the company. The Romanian state holds a stake of 51%, while Fondul Proprietatea also considers Salrom as good candidate for listing on the stock exchange. Salrom is a [...] >> mai mult >>

decembrie 21, 2015

FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea has announced the extension of the credit facility with Citibank Europe PLC Dublin.

Fondul Proprietatea agreed the extension of its RON 500m credit facility, with a potential increase by a further RON 500m, pending to future mutual agreement of the parties. The credit facility can be used only for corporate purposes, including buy-backs. The credit line is valid between 4th of [...] >> mai mult >>

decembrie 18, 2015

Ministry of Finance sold RON 500m worth of treasury bills at an average yield of 0.97%. (Source: Ziarul Financiar)

decembrie 18, 2015

NUCLEARELECTRICA (SNN RO):

ANRE market watchdog increased Nuclearelectrica's regulated price to RON 162.71/MWh, an increase of 2.57% compared to the regulated price; total quantity to be sold on the regulated market in 2016 stands at 1.45 TWh. Hidroelectrica regulated price was also increased to RON 12.55/MWh, up 5.51% [...] >> mai mult >>

decembrie 17, 2015

ROMGAZ (SNG RO): Gas deliveries to ELCEN starting January 1st, 2016 will depend upon rescheduling of outstanding debts.

Board of Directors convened the extension of the ongoing contract with Electrocentrale Bucuresti (ELCEN) by year-end, but new deliveries starting January 1st, 2016 will depend upon the rescheduling of the outstanding debts of approximately EUR 100m. In Q2'15, Romgaz booked RON 164.3m provision for [...] >> mai mult >>

decembrie 16, 2015

BANCA TRANSILVANIA (TLV RO): International Finance Corporation (IFC) lowered its holding in TLV from 5.01% to 4.98%, as per last official reporting. (Source: Banca Transilvania)

decembrie 15, 2015

10M’15 current account deficit widened to EUR 0.9bn.

January-October 2015, current account widened to EUR 0.9bn from EUR 0.49bn due to 85% Y/Y trade balance deficit to RON 5.76bn as well as widening primary income balance deficit to RON 3.15bn (37% Y/Y). Foreign direct investments reached at EUR 2.78bn (+75% Y/Y), highest level since 2009. Total [...] >> mai mult >>

decembrie 15, 2015

SIF MUNTENIA (SIF4 RO): 11M’15 net profit stood at RON 74.97m (-57% Y/Y), NAVPS reached RON 1.3372 (-2% MoM, +4.52% Y/Y); NAVPS discount to last closing price stands at 44.51%. (Source: SIF Muntenia)

decembrie 15, 2015

SIF TRANSILVANIA (SIF3 RO): 11M’15 net profit stood at RON 83m (+57% Y/Y), NAVPS reached RON 0.523 (-1% MoM, +8.83% Y/Y); NAVPS discount to last closing price stands at 48.37%. (Source: SIF Transilvania)

decembrie 15, 2015

SIF BANAT CRISANA (SIF1 RO): 11M’15 net profit stood at RON 90m (-40% Y/Y), NAVPS reached RON 3.2589 (-2% MoM, +12.78% Y/Y); NAPVS discount to last closing price stands at 50.41%. (Source: SIF Banat Crisana)

decembrie 15, 2015

FONDUL PROPRIETATEA (FP RO):

Share buy-back notification. During 7-11 December 2015, Fondul Proprietatea repurchased 10.17m shares (9.42m ordinary shares and 0.75m equivalent shares of the GDRs repurchased; total worth of the transactions was RON 8.28m, out of which RON 7.66m for ordinary shares and RON 0.62m for equivalent [...] >> mai mult >>

decembrie 15, 2015

FONDUL PROPRIETATEA (FP RO): NAVPS reached RON 1.1074 (-2% MoM, -6.64% Y/Y); discount to last closing stands at 28.66%. (Source: Fondul Proprietatea)

decembrie 14, 2015

SIF MOLDOVA (SIF2 RO):

First 9M net profit at RON 117.5m (-51% Y/Y); NAVPS as of November 2015 stands at RON 1.4291 (-3% MoM, +4.71% Y/Y), NAVPS discount to last closing price stands at 45.42%. (Source: SIF Moldova) >> mai mult >>

decembrie 14, 2015

Moody’s improved Romania’s sovereign rating outlook from stable to positive.

Moody's improved Romania's sovereign outlook from stable to positive and reconfirmed Baa3 investment grade rating. Moody's decisions reflects the significant progress recorded by Romania with respect to balancing of the macroeconomic disequilibria as well as reduction economy's vulnerability to [...] >> mai mult >>

decembrie 11, 2015

Ministry of Finance borrowed RON 300m in 7Y bonds at an average yield of 3.25%/year – total bids stood at RON 679.43m, 2.3x higher above issue value.(Source: Ziarul Financiar)

decembrie 11, 2015

October 2015 non-government loans stood at RON 214.44bn (+0.1% MoM, +0.3% Y/Y).

October 2015 RON-denominated non-government loans increased 1% MoM and 16.7% Y/Y to RON 108.73bn, due to an increase of 2.2% MoM (+28.4% Y/Y) in household loans to RON 50.90bn while corporate loans reached RON 57.83bn (-0.1% MoM, +8% Y/Y). FX denominated non-government loans stood at RON 105.72bn [...] >> mai mult >>

decembrie 11, 2015

FONDUL PROPRIETATEA (FP RO): Extraordinary GSM called on 27 January 2016.

Fondul Proprietatea called for an EGSM on 27 January 2016 in order to approve the decrease of its share capital from RON 9.87bn to RON 9.32bn via the reduction of the par value of its shares from RON 0.90 to RON 0.85. After the decrease of the share capital the subscribed share capital of Fondul [...] >> mai mult >>

decembrie 10, 2015

SIF MOLDOVA, BANCA TRANSILVANIA (SIF2 RO, TLV RO):

SIF Moldova restarted acquisitions in TLV - total worth of the transactions carried since beginning of December stands at RON 7.3m for some 3m shares or 0.09% of TLV share capital. (Source: Ziarul Financiar) >> mai mult >>

decembrie 10, 2015

FONDUL PROPRIETATEA (FP RO):

Fondul Proprietatea repurchased 3.13% of its share capital since the beginning of the sixth buy-back program, of which 30% represented equivalent shares of the GDRs acquired on the London Stock Exchange - overall worth of the trades carried for both ordinary shares and equivalent shares of the GDRs [...] >> mai mult >>

decembrie 9, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 2-4 December 2015, Fondul Proprietatea repurchased 5.45m shares of which 4.95m ordinary shares and 500k equivalent shares of the GDRs repurchased - total worth of the transactions stood at RON 4.45m of which RON 4.04m worth of ordinary shares and RON 0.41m worth for equivalent shares of the [...] >> mai mult >>

decembrie 8, 2015

FONDUL PROPRIETATEA (FP RO):

Bill Gates foundation reported as shareholder in FP with a stake of 0.6% (66m shares) according to Bloomberg, total investment being evaluated at RON 53m (USD 12m). (Source: Ziarul Financiar) >> mai mult >>

decembrie 7, 2015

According to the Financial Supervisory Authority (FSA), the new law regarding SIFs and FP should get finalized by spring.

The Financial Supervisory Authority formed a consultative working group with the Association of Asset Management in order to elaborate a series of materials on legislative changes required for the development of the capital market. In July, FSA started a public debate upon the regulation that should [...] >> mai mult >>

decembrie 7, 2015

SIF MOLDOVA (SIF2 RO):

SIF Moldova to increase exposure in tourism sector via EUR 21m (RON 4.8m) acquisition of Sport hotel; also some RON 15m is estimated to be additionally invested in the respective sector. Currently, the portfolio of SIF Moldova is largely concentrated in the financial-banking and energy sector - [...] >> mai mult >>

decembrie 7, 2015

FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea should subscribe RON 80m in cash to the share capital of several energy companies in order to avoid dilution.

In order to avoid dilution, Fondul Proprietatea should subscribe some RON 77m to Complexul Energetic Oltenia share capital increase worth RON 360m, which would allow FP to keep its stake of 21.55%. The share capital increase was requested by the Ministry of Energy, which holds a stake of 77.15% in [...] >> mai mult >>

noiembrie 26, 2015

October 2015 overdue payments related to RON denominated loans dropped 3.7% MoM whereas FCY loans overdue payments dropped 1.9% MoM.

Based on the data released by the National Bank, in October, overdue payments related to RON denominated loans dropped 3.7% MoM to RON 9.5bn whereas FCY loans overdue payments dropped 1.9% MoM to RON 12.95bn. Overdue payments in total loans granted dropped to 8.73% in October from 9.16% in September [...] >> mai mult >>

noiembrie 25, 2015

Positive sentiment among Financial Supervisory Authority with respect to upcoming listings.

Based on recent statements of the Mircea Ursache, Vicepresident of the Financial Supervisory Authority, 2016 should bring upfront some listings from the existing pipeline that should compensate for a poor performance in this regard in the current year; mulls positive sentiment with respect to CN [...] >> mai mult >>

noiembrie 17, 2015

Hidroelectrica posted 10M’15 EBT at RON 1bn on 9x Y/Y higher trading revenues.

Hidroelectrica reported 10M'15 EBT of RON 1bn, on the back of 9x Y/Y higher trading revenues; production realized in the reporting period was at 13 TWh, while for the end of the year, it is estimated a gross profit of RON 1-1.2bn while volumes produced should stay at 14.5 TWh. (Source: [...] >> mai mult >>

noiembrie 17, 2015

ELECTRICA (EL RO): 9M’15 consolidated net profit at RON 428m (+27% Y/Y).

Electrica Group reported 9M'15 consolidated net profit of RON 428m vs. RON 92m Y/Y, posting an increase of 27% Y/Y, while the operating profit stood at RON 497m (+22% Y/Y). 9M'15 operating profit was at RON 4.13bn (+10% Y/Y), as distribution revenues stood at RON 1.84bn (+6% Y/Y), due to 6% Y/Y [...] >> mai mult >>

noiembrie 17, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 9-13 November 2015, Fondul Proprietatea repurchased 17.13m shares (10.77m ordinary shares and 6.36m equivalent shares of the GDRs repurchased - total worth of the transactions stood at RON 14.25m (RON 8.94m for ordinary shares and RON 5.3m for equivalent shares of the GDRs repurchased). [...] >> mai mult >>

noiembrie 17, 2015

SIF MOLDOVA (SIF2 RO): SIF MOLDOVA proposed to its shareholders a reverse split in order to give up its penny stock status.

SIF Moldova called for ESGM on January 13, in order to approve a reverse split that would increase the value of the shares to RON 2.5 vs. a previous RON 0.1, therefore 25 old shares with a nominal value of RON 0.1/share would translate into 1 new share with a nominal value of RON 2.5/share. At the [...] >> mai mult >>

noiembrie 16, 2015

The new appointed PM, Dacian Ciolos formed a new government – next steps are related to hearings within the Specialized Commissions of the Parliament and afterwards a confidence vote shall follow, positively expected.

The new designated prime minister, Dacian Ciolos proposed a new government, mostly formed of technocratic candidates based in Brussels and Bucharest, having as final step the confidence vote of the Parliament. Both the ruling parties as well as the opposition side, encouraged a confidence vote for [...] >> mai mult >>

noiembrie 12, 2015

NUCLEARELECTRICA (SNN RO): CGN Power hopes to receive from the Romanian state a minimum floor price for energy.

Following the signing of the Memorandum of Understanding with China General Nuclear Power (CGN) some additional discussions are currently taking place which involve a minimum price floor for energy, as the Chinese part looks rather reluctant in starting some large investments without having [...] >> mai mult >>

noiembrie 12, 2015

FONDUL PROPRIETATEA (FP RO): IOR Bucuresti exit could potentially bring to the Fund at least RON 1.14m.

The shareholders of IOR Bucuresti decided to move the company's shares to a regulated market or alternative trading system, but without making clear a specific one, whereas Fondul Proprietatea voted against any movement and decided instead to withdraw from the company's shareholding structure. [...] >> mai mult >>

noiembrie 12, 2015

TRANSGAZ (TGN RO): 9M’15 net profit up 3% Y/Y to RON 384m.

Transgaz reported 9M'15 IFRS results with bottom line reaching RON 384m (+3% Y/Y), on the back of 3% Y/Y rise in operating revenues (due to higher revenues from transit activity (+17.6% Y/Y) helped in a larger extent by the FX component rather than volumes side, as well as reversal of some [...] >> mai mult >>

noiembrie 12, 2015

Fitch Ratings: Romania’s sovereign rating could potentially get sensitive should the fiscal relaxation jeopardize the public finance stability.

Following the nominalization of a new PM, it is less likely that current fiscal plans of the country to suffer major changes, whilst instead the main weak point against the current sovereign rating could be the upcoming fiscal relaxation that could jeopardize the stability of the public finances. [...] >> mai mult >>

noiembrie 11, 2015

BANCA TRANSILVANIA (TLV RO): Q3’15 net profit above estimates on lower cost of risk and estimated taxation level.

The reported results were broadly in line with our estimates, with respect to both core and non-core income, whilst in terms of expenses the impact of VBRO integration took its toll and negatively impacted the bottom line, while loan loss provisions landed better than expected. Thus, NII income [...] >> mai mult >>

noiembrie 11, 2015

ELECTRICA (EL RO): Shareholders approved the resumption of negotiations with FP regarding the sale of its minority stakes in its distribution subsidiaries as well as the increase of the number of BOD members from five to seven.

The resumption of the discussions with FP that failed at the beginning of the year due to divergences upon the sale price was requested by a group of shareholders including the Newtyn and NN investment funds. On the other hand, the increase in the number of BOD members came at the proposal of the [...] >> mai mult >>

noiembrie 11, 2015

President Klaus Iohannis designated Dacian Ciolos as PM for a technocratic government, aiming at preserving stability until 2016 elections.

Dacian Ciolos is a former European commissioner for agriculture and currently adviser to European Commission President Jean-Claude Juncker and will have 10 days to form a new government as well as drafting a news governing program. A confidence vote from the Parliament will be required as well and a [...] >> mai mult >>

noiembrie 10, 2015

AEROSTAR Bacau (ARS RO): 9M’15 net profit at RON 33.5m, up 2.7x Y/Y; sales stood at RON 202m vs. RON 161m in 9M’14 – total debts were at RON 70m o/w RON 58.81m in current debts. (Source: Bursa)

noiembrie 10, 2015

BANCA TRANSILVANIA (TLV RO): Share buy-back notification.

During 02-06 November 2015, Banca Transilvania repurchased 1.01m shares at an average price of RON 2.6/share - total worth of the transactions at RON 2.64m. (Source: Banca Transilvania) >> mai mult >>

noiembrie 10, 2015

IMPACT (IMP RO): Impact shareholders approved the issuance of RON 135m worth of corporate unsecured bonds with a maturity of 7Y.

Shareholders of real-estate developer Impact, approved the issuance of RON 135m or EUR equivalent worth of corporate unsecured bonds with a maximum maturity of 7Y, for the existing and future projects of the company. The bonds cannot be converted into shares but will be admitted to trading on the [...] >> mai mult >>

noiembrie 10, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 02-06 November 2015, Fondul Proprietatea repurchased 17.17m shares o/w 11.42m ordinary shares and 5.75m equivalent shares of the GDRs repurchased - total value at RON 14.33m (RON 9.54m for ordinary shares and RON 4.78m for equivalent shares of the GDRs repurchased). Total number of shares [...] >> mai mult >>

noiembrie 6, 2015

EBRD positively revised the economic growth at 3.5% for 2015.

EBRD positively revised the economic growth rate at 3.5%, followed by an advance at 3.7% in 2016, based on the most recent report issued by the institution. Previous estimates were at 3% for current year and 3.2% in 2016, Romania being the only country in the South-East Europe that would register [...] >> mai mult >>

noiembrie 4, 2015

TERAPLAST (TRP RO): Teraplast proposes to its shareholders share capital increase by RON 8.87m.

Teraplast shareholders were summoned on 07/08 December for O&E SGA in order to approve RON 8.87m share capital increase via offering bonus shares through capitalization of reserves; each shareholder recorded by 23 December 2015 will receive 30.72 shares for each 100 shares previously hold. [...] >> mai mult >>

noiembrie 4, 2015

TURBOMECANICA (TBM RO): 9M’15 net profit at RON 1.99m vs. RON 2.52m losses in 9M’14.

Turbomecanica reported 9M'15 IFRS results, with revenues at RON 34.32m (+22% Y/Y), depreciation charges hiked to RON 4.04m (+25% Y/Y), net financial costs stood at RON 2.69m (-7.56% Y/Y), while other operating expenses dropped by 11% Y/Y to RON 3.8m. EBT stood at RON 1.99m vs. a loss of RON 2.52m [...] >> mai mult >>

noiembrie 3, 2015

Forex reserves of the National Bank increased by EUR 2.51bn in October.

At the end of October 2015, Romania's foreign exchange reserves stand at EUR 31.65bn vs. EUR 29.14bn at the end of September 2015, an increase of EUR 2.51bn - mostly backed by the Ministry of Finance Eurobonds issue with a nominal value of EUR 2bn. The gold stock stood at 103.7 tons, valued at EUR [...] >> mai mult >>

noiembrie 3, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 26-30 October 2015, Fondul Proprietatea repurchased 13.87m shares out of which 9.25m shares and 4.61m equivalent shares of GDRs repurchased in total worth of RON 11.33m (RON 7.55m worth of ordinary shares repurchased and RON 3.78m estimated value of equivalent shares of GDRs repurchased). [...] >> mai mult >>

noiembrie 3, 2015

FONDUL PROPRIETATETA (FP RO): Fondul Proprietatea would be interested in selling Hidroelectrica shares even before the listing, depending on the offers received.

According to the media, Fondul Proprietatea would be interested in selling its shares in Hidroelectrica even before the listing, depending on the offers received, while stressing at the same time that this is not the preferred scenario. According to Greg Konieczny recent statements, Fondul [...] >> mai mult >>

noiembrie 2, 2015

During November 2015, the Ministry of Public Finance plans to borrow some RON 3.53bn from local banks.

According to the local media, during November 2015, the Ministry of Public Finance plans to borrow some RON 3.53bn from local banks, out of which RON 3.2bn via several treasury certificates and state bonds auctions, whilst instead some RON 330m should be attracted via additional sessions of [...] >> mai mult >>

noiembrie 2, 2015

SIF MOLDOVA (SIF2 RO): SIF Moldova rebalanced its portfolio with respect to Banca Transilvania shares.

Based on separate disclosure, SIF Moldova sold 6m shares, or some 0.198% in the share capital of Banca Transilvania; remaining stake stands at 8.245% - the sale occurred in the context of portfolio rebalancing in order to fall within the strategic exposure limit, namely the ownership in the shares [...] >> mai mult >>

octombrie 30, 2015

Investors would be able to undertake short-selling for both securities, government bonds as well as fund units.

The Financial Supervisory Authority has put under public debate a draft regulation through which procedures related to implementation of short selling for securities, government bonds and fund units could be simplified - thus, should these amendments get approved, short-selling transactions could [...] >> mai mult >>

octombrie 30, 2015

FONDUL PROPRIETATEA (FP RO): 29 October SGA resolutions – Franklin Templeton mandate has been extended by another two years.

Franklin Templeton, manager of Fondul Proprietatea has called for O&E GSM on 29 October, 2015 in order to approve, among others, the appointment of an entity from Franklin Templeton International Group which is headquartered in Luxembourg, to manage the assets of the Fund starting 1st April [...] >> mai mult >>

octombrie 28, 2015

The Government approved an emergency ordinance regarding the cut on dividend tax from 16% to 5% starting January 1st, 2016.

According to an emergency ordinance approved by the Government, tax on dividends will be reduced to 5% starting January 1st, 2016 compared to previous Tax Code provisions that stipulated the tax reduction was supposed to apply starting January 1st, 2017 - thus, dividends distributed to natural and [...] >> mai mult >>

octombrie 26, 2015

SIF MOLDOVA (SIF2 RO): Share buy-back notification.

During 16-22 October 2015, SIF Moldova repurchased 534k shares at an average price of RON 0.7878/share - total worth of the transactions performed stood at RON 0.42m. (Source: SIF Moldova) >> mai mult >>

octombrie 23, 2015

FY’16 budget proposal – GDP growth at 3.4%.

According to Ministry of Finance draft budget for 2016, economic growth is estimated at 3.4%, average inflation should land at 1.7%, while FY'17 GDP is seen at 3.7% and 4%/year going onwards. (Source: Economica.net) >> mai mult >>

octombrie 23, 2015

The Ministry of Finance attracted RON 1.12bn in state bonds via two separate auctions.

Ministry of Finance borrowed RON 425m in 5Y bonds at an average yield of 2.72%/year; while the auction held for 6M treasuries attracted RON 699m (issuance worth RON 700m) with total bids at RON 1.86bn. The Ministry of Finance planned for October borrowings worth RON 3.4bn, in discount treasury [...] >> mai mult >>

octombrie 22, 2015

Romania attracted EUR 2bn from foreign investors through a Eurobond issue with maturities of 20Y and 10Y

The state offered yields of 245 points over mid-swap rates for bonds with a maturity of 20Y and 190 points over mid-swap rates for bonds with a maturity of 10Y; breakdown of the issue stands at RON 1.25bn in 10Y bonds and EUR 750m in 20Y. Mid-swap rate stands between 0.96%-0.97%. (Source: Ziarul [...] >> mai mult >>

octombrie 21, 2015

Banking system profit exceeded RON 2bn at the end of first eight months.

According to statements of Mugur Isarescu, National Bank Governor, in the first eight months, the banking system posted a profit of RON 2.3bn, non-performing loans ratio dropped to 12.6%, while loans over deposits ratio stood at 92.5%. (Source: Ziarul Financiar) >> mai mult >>

octombrie 21, 2015

Moody’s analysis: Romania’s rating is supported by economic growth, fiscal consolidation and reduced government debt.

The promising outlook on the medium-term, low government debt and reduction in fiscal deficit support the rating Baa3 with stable outlook assigned to Romania and counteract the challenges related to the poor asset quality in the banking system, the high level of external debt, poor performance in [...] >> mai mult >>

octombrie 21, 2015

FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea sold 16m existing shares in Romgaz for gross proceeds of RON 456m (USD 117.14m).

Fondul Proprietatea announced the sale of 16m shares in Romgaz (14.71m in the form of shares and 1.28m in the form of GDRs), following the 9.72% increase in the initial targeted volumes announced on 19 October; selling price was at RON 28.5/share and USD 7.32, with gross proceeds at RON 456m (USD [...] >> mai mult >>

octombrie 20, 2015

According to Prime Minister Ponta, reduction in dividend tax could apply starting January 2016.

Based on recent statements made by the Prime Minister Victor Ponta, the dividend tax could potentially decrease from 16% to 5% starting 2016. The proposal follows to be discussed within the rulling coalition in the upcoming days. (Source: Wall-Street.ro) >> mai mult >>

octombrie 20, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 12-16 October, Fondul Proprietatea repurchased 7.28m shares (4.72m ordinary shares and 2.55m equivalent shares of the GDRs repurchased). Total worth stood at RON 5.73m (RON 3.7m ordinary shares and estimated RON 2.02m for equivalent shares of the GDRs repurchased). Shares left to be [...] >> mai mult >>

octombrie 20, 2015

FONDUL PROPRIETATEA (FP RO): Accelerated bookbuild for 3.78% stake in Romgaz launched.

The Fund announced an accelerated bookbuild offering for a stake of 3.78% in Romgaz (or 37.83% of the Fund's holding in Romgaz), in the form of shares and GDRs. The Fund has agreed to a 180 day lock-up period from the date hereof on the residual position. Following this transaction, the Fund's stake [...] >> mai mult >>

octombrie 19, 2015

ROMGAZ (SNG RO): Update related to the commercial conflict with Electrocentrale Bucuresti.

Based on a company press release, Romgaz will continue gas deliveries for Electrocentrale Bucuresti until 15 November 2015, as decided by the Board of Directors; after this date the contractual relationship will continue only if Electrocentrale Bucuresti will present a firm program for the [...] >> mai mult >>

octombrie 19, 2015

Coface estimates for 2015, an inflation of 0.3% and a budgetary deficit of 2.5% while GDP growth is seen at 3.3%.

Based on Coface estimates, in 2015 inflation slightly positive at 0.3%, while the consolidated budget of the country will reach 2.5% of GDP, based on an estimated economic growth at 3.3%, while also appreciating that the economic situation will improve should the underground economy reduce - [...] >> mai mult >>

octombrie 13, 2015

BANCA TRANSILVANIA (TLV RO): Share buy-back notification.

During 05 - 09 October 2015, Banca Transilvania repurchased 674k shares worth RON 1.58m at an average price of RON 2.35/share. (Source: Banca Transilvania) >> mai mult >>

octombrie 13, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 05 - 09 October 2015, Fondul Proprietatea repurchased 8.36m shares (5.57m shares and 2.78m equivalent of the GDRs repurchased), worth RON 6.59m (RON 4.37m for ordinary shares and RON 2.21m for equivalent shares of the GDRs repurchased). Total number of shares and equivalent shares of GDRs [...] >> mai mult >>

octombrie 12, 2015

International Investment Bank intends to sell RON 200m (EUR 45.3m) in 3Y bonds on the local stock exchange

- the funds will be used for expanding the current portfolio of loans, including Romania, while current subscriptions stand around RON 111m (55% of issue worth) at an interest rate of 4.1%/year from qualified investors. The bonds follow to get listed on the stock exchange by latest 15 October. [...] >> mai mult >>

octombrie 12, 2015

Hidroelectrica posted 9M’15 gross profit of RON 900m – EBITDA margin climbs to 65%.

Based on the data released by the judicial administrator, Hidroelectrica posted in 9M'15 a gross profit of RON 900m, with a turnover of RON 2.44bn and EBITDA of RON 1.4bn. (Source: Economica.net) >> mai mult >>

octombrie 12, 2015

Romania 'BBB-/A-3' ratings affirmed - outlook stable.

Standard & Poor's Ratings Services affirmed Romania's 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Romania. The outlook is stable. The ratings are supported by Romania's moderate external and fiscal indebtedness amid relatively firm growth prospects. The [...] >> mai mult >>

octombrie 9, 2015

BANCA TRANSILVANIA (TLV RO): Shareholders of Banca Transilvania have approved the merger with Volksbank Romania (VBRO).

During yesterday's SGA the shareholders of Banca Transilvania have approved the merger with VBRO - integration with VBRO started in April this year and will finalize on December 31, and all stages so far were within the deadlines set. So far, over 14,700 of eligible clients of VBRO (over 83%) with [...] >> mai mult >>

octombrie 8, 2015

Members of the Budget and Finance Committee rejected the proposal brought to the Emergency Ordinance 90/2014 which amended the capital market law, and stipulated that shareholders should have the right to decide within SGAs the SIFs ceiling.

The proposal to increase SIFs ownership ceiling was introduced last year in October, when the Ministry of Finance put under public debate a draft law through which proposed the elimination of SIFs ownership ceiling; SIFs have a cumulated fortune worth RON 7bn, placed in shares of Erste Bank, Banca [...] >> mai mult >>

octombrie 7, 2015

IMF improved Romania’s economic growth perspectives for 2015 and 2016.

Based on World Economic Outlook, the International Monetary Fund (IMF) revised upwards Romania's economic growth perspectives for 2015 and 2016, namely 3.4% and 3.9% respectively. Previous estimates were at 2.7% in 2015 and 2.9% for 2016. The IMF considers that emerging Europe region, which includes [...] >> mai mult >>

octombrie 6, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 28 September - 2 October 2015, Fondul Proprietatea repurchased 6.9m shares (4.49m shares and 2.42m equivalent of the GDRs repurchased), worth RON 5.47m (RON 3.54m for ordinary shares and RON 1.93m for equivalent shares of the GDRs repurchased). Total number of shares and equivalent shares of [...] >> mai mult >>

octombrie 6, 2015

ROMGAZ (SNG RO), OMV PETROM (SNP RO): Royalties related to offshore fields could decrease, but mining royalties will increase.

Based on statements of Andrei Gerea, Ministry of Energy, mining royalties could increase, but those for offshore royalties could decrease due to the high investments required. The Ministry of Energy is involved in developing a strategy on energy sector, as the country relies on a complex energetic [...] >> mai mult >>

octombrie 5, 2015

SIF TRANSILVANIA (SIF3 RO): SIF Transilvania interested in buying Oltchim chemical plant but only if the takeover package contains also Arpechim refinery.

According to SIF Transilvania representatives, the closed-end investment fund looks to resume the takeover process of Oltchim by SIF Transilvania Project Management Company, with the condition of obtaining also the Arpechim refinery - financing sources would be obtained from external sources, like [...] >> mai mult >>

octombrie 2, 2015

Forex reserves of the National Bank decreased by EUR 200m in September.

Based on the data published by the National Bank, in September, forex reserves of the National Bank dropped by EUR 200m to EUR 29.13bn vs. EUR 29.34bn as of August. The gold stock stood at 103.7 tons valued at EUR 3.33bn. The international reserves of Romania (foreign currencies and gold) stood at [...] >> mai mult >>

septembrie 29, 2015

BANCA TRANSILVANIA (TLV RO): Share buy-back notification.

During 21-25 September, Banca Transilvania repurchased 592k shares worth RON 1.41m at an average price of RON 2.39/share. (Source: Banca Transilvania) >> mai mult >>

septembrie 29, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 21-25 September 2015, Fondul Proprietatea repurchased 6.4m shares (4.26m shares and 2.13m equivalent of the GDRs repurchased), worth RON 5.07m (RON 3.37m for ordinary shares and RON 1.69m for equivalent shares of the GDRs repurchased). Total number of shares and equivalent shares of GDRs [...] >> mai mult >>

septembrie 25, 2015

ELECTRICA (EL RO): Shareholders summoned for EGSM on November 10 (11), 2015.

Among main topics on the agenda of November 10 (11) EGSM is mandating the Management Board of Electrica to start negotiations with Fondul Proprietatea on behalf of Electrica to acquire the entire stake held by Fondul Proprietatea in the share capital of Electrica's subsidiaries, i.e Electrica [...] >> mai mult >>

septembrie 24, 2015

In the first seven months of the year, foreign direct investments increased by 60% Y/Y to EUR 2bn.

According to Alexandru Nastase, State Secretary in the Department for Foreign Investment and Public-Private Partnership, in the first seven months of the year, the value of the foreign direct investments increased by 60% Y/Y to EUR 2bn, while according to the National Bank data, out of total [...] >> mai mult >>

septembrie 24, 2015

Lending grew by 0.2% in August.

At the end of August, loans granted by the local banks summed to RON 214bn (EUR 48bn), up 0.2% Y/Y and 0.7% MoM, backed by 27.4% Y/Y positive development in households loans (RON denominated) and +6.1% Y/Y increase in corporate loans. Government credit stood 1.3% higher in August at RON 86.6bn [...] >> mai mult >>

septembrie 24, 2015

OMV PETROM (SNP RO): The Government issued an Emergency Ordinance through the Ministry of Energy can set up new companies and can participate to the share capital of existing/new companies.

According to an Emergency Ordinance issued yesterday by the Government, the Ministry of Energy can set up new companies (state owned) and can participate to the share capital of the existing either new companies. This comes with respect to the agreement made with Rompetrol regarding the [...] >> mai mult >>

septembrie 23, 2015

TRANSGAZ (TGN RO), TRANSELECTRICA (TEL RO): Transgaz and Transelectrica would be interested in involving in the privatization processes that will take place in Republic of Moldova.

According to Victor Ponta, Prime Minister, both Transgaz and Transelectrica would be interested in getting involved in the privatization cases that will take place in Republic of Moldova, as letters of intent have already been submitted in this regard. (Source: Economica.net) >> mai mult >>

septembrie 23, 2015

5% tax on dividends could apply starting January 1st 2016.

According to Catalin Beciu, State Secretary in the Ministry of Energy, the 5% tax on dividends could apply starting January 1st, 2016 - the overrun decision being necessary for improving the sentiment for the related business environment. (Source: Economica.net) >> mai mult >>

septembrie 23, 2015

SIFs ceiling discussions postponed for one week.

According to the local media, deputies from the Finance&Budget Committee decided to postpone for one week the discussions related to SIFs ownership ceiling - previously an amendment to the capital market law was proposed which stipulated the cancellation of the related ceiling. As a separate [...] >> mai mult >>

septembrie 23, 2015

OMV PETROM (SNP RO): Extraordinary and Ordinary General Meeting of Shareholders held yesterday – shareholders welcomed the secondary listing on LSE via GDRs.

Main topic on the agenda of the Extraordinary General Meeting of Shareholders was the approval of the secondary listing of OMV Petrom on the London Stock Exchange by issuance of GDRs and empowerment of the Executive Board of OMV Petrom to take all necessary actions and formalities for the [...] >> mai mult >>

septembrie 22, 2015

FONDUL PROPRIETATEA (FP RO): Share buy-back notification.

During 14-18 September 2015, Fondul Proprietatea bought back, 4.8m shares and 2.41m equivalent shares of GDRs bought back (48,285 GDRs) in total value of RON 5.78m; total number of shares and equivalent of GDRs repurchased since the start of the buy-back stands at 11.17m, out of which 7.21m shares [...] >> mai mult >>

septembrie 22, 2015

OMV PETROM (SNP RO): Extraordinary and Ordinary General Meeting of Shareholders held today.

Main topic on the agenda of the Extraordinary General Meeting of Shareholders is the approval of the secondary listing of OMV Petrom on the London Stock Exchange by issuance of GDRs and empowerment of the Executive Board of OMV Petrom to take all necessary actions and formalities for the [...] >> mai mult >>

septembrie 22, 2015

FONDUL PROPRIETATEA (FP RO): Media vows Fondul Proprietatea mulls buying a 25% stake in Polisano.

Based on recent public statements of Remus Borza, judicial administrator of Hidroelectrica and President of Polisano, Fondul Proprietatea would be interested in buying a 25% stake in Polisano, for an amount worth some EUR 30m, albeit Greg Konieczny, manager of Fondul Proprietatea, has repeatedly [...] >> mai mult >>

septembrie 21, 2015

SIF MOLDOVA (SIF2 RO): Share buy-back notification.

During 11-19 September 2015, SIF Moldova repurchased 391,635 shares at an average price of RON 0.8138/share - total worth of the shares repurchased stood at RON 0.32m. (Source: SIF Moldova) >> mai mult >>

septembrie 21, 2015

The National Statistics Commission revised upwards FY’15 economic growth estimate from 3.3% to 3.4%.

According to the new estimates of the National Statistics Commission, FY'15 GDP growth has been revised upwards by 0.1% pps, from 3.3% to 3.4%, while for next year, the growth has been revised from 3.4% to 4.1%. For 2018, GDP growth is estimated to reach 4.5% vs. 4% previously, while 2019 growth [...] >> mai mult >>

septembrie 17, 2015

BANCA TRANSILVANIA (TLV RO): Share buy-back notification.

The Board of Directors of Banca Transilvania has approved the buy-back of a number of 10m shares (out of the total of 20m shares approved for buy-back by the EGSM) at a nominal value of RON 1/share at a price at least equal with the BSE market price at the moment of the acquisition and at a maximum [...] >> mai mult >>

septembrie 17, 2015

Hidroelectrica paid its creditors, but could stay in insolvency by mid-2016.

Albeit Hidroelectrica has paid all its creditors, the company could remain in insolvency by mid-2016, according to Remus Borza legal administrator of Hidroelectrica, due to the ongoing trials with energy traders whose contracts got suspended. (Source: Ziarul Financiar) >> mai mult >>

septembrie 17, 2015

The Romanian state could obtain some RON 1.5bn (EUR 300-400m) worth of 46% stake in Telekom Romania Communications.

According to the local media, the Romanian state could obtain some RON 1.5bn (EUR 300-400m) from selling a 46% stake in Telekom Romania Communications, former Romtelecom, which puts the value of the company at some RON 2.8bn (EUR 640m). (Source: Ziarul Financiar) >> mai mult >>

septembrie 16, 2015

5% tax on dividends could potentially apply from January 1st, 2016, as it will impact the 2017 budget.

According to Daniel Constantin, Ministry of Agriculture, the reduction in dividend tax from 16% to 5%, could potentially apply from January 1st, 2016, as it would impact the 2017 budget, but a final decision in this regard would be taken inside the ruling coalition. Based on the new Tax Code, the 5% [...] >> mai mult >>

septembrie 16, 2015

FONDUL PROPRIETATEA (FP RO): Buy-back notification.

During 9-11 September 2015, Fondul Proprietatea has repurchased 3.9m shares - 2.37m shares and 1.54m equivalent shares of the GDRs repurchased; total value RON 3.13m (RON 1.89m for ordinary shares and RON 1.23m for equivalent shares of the GDRs repurchased). Fondul Proprietatea can repurchase up to [...] >> mai mult >>

septembrie 10, 2015

Hidroelectrica to put up for sale at 20% discount the micro hydro power plants that remained unsold at the first auction.

Hidroelectrica wants to sell in the second decade of November some 32 micro hydro power plants, most of them unsold at the last auction at a discount of 20% from the price offered at the previous auction, according to Remus Borza, judicial administrator of Hidroelectrica. The company intends to [...] >> mai mult >>

septembrie 10, 2015

ELECTRICA (EL RO): The Bod of Electrica accused the Ministry of Energy of influence upon the nominalization process of Electrica subsidiaries’ administrators.

Electrica held on 9th September 2015, the Ordinary General Meeting of Shareholders, following which, the company has rejected the administration plan for the period 2015-2018, while the BoD has also dragged attention that the Ministry of Energy aims at retaining its control upon Electrica. As per [...] >> mai mult >>

septembrie 10, 2015

FONDUL PROPRIETATEA (FP RO): Ministry of Economy expects an offer should FP decide to sell its stake in Salrom.

According to the Ministry of Economy, Mihai Tudose, the state would be interested in acquiring the 49% FP stake in Salrom should Fondul Proprietatea make an offer. Fondul Proprietatea intends to list Salrom on the stock exchange, but the state is against selling and/or listing Salrom due to its [...] >> mai mult >>

septembrie 9, 2015

BANCA CARPATICA (BCC RO): Group of shareholders concluded an agreement with JCF III Europe Holdings L.P.

According to bank disclosure, a Group of shareholders of the Bank concluded an agreement with JCF III Europe Holdings L.P. - an investment vehicle of JC Flowers III, LP, a fund advised by J.C. Flowers Co for the purpose of selling an indirect shareholding of 25% in the Bank. The indirect acquisition [...] >> mai mult >>

septembrie 9, 2015

FONDUL PROPRIETATEA (FP RO): FP announced the start of the sixth buy-back programme.

Franklin Templeton Investment Management, Fund Manager of Fondul Proprietatea has announced that the sixth buy-back programme will start on 9 September 2015 - in more detail the buy-back will consist in a maximum number of 891.770.055 shares or equivalent of GDRs corresponding to the Fund's shares [...] >> mai mult >>

septembrie 8, 2015

Ministry of Finance borrowed RON 500m at an average yield of 1.76%/year.

The Ministry of Finance borrowed RON 500m in bond issue at an average yield of 1.76%/year, maturity was set at 21 months, with total banks' demand at RON 1.9bn. For September, the Ministry of Finance planned borrowings worth RON 3.84bn, out of which RON 3.5bn in treasury certificates and bonds while [...] >> mai mult >>

septembrie 7, 2015

BANCA TRANSILVANIA (TLV RO): Extraordinary and Ordinary General Meeting of shareholders summoned for October 8, 2015.

Banca Transilvania has called for an Extraordinary and Ordinary General Meeting of Shareholders for October 8, 2015 in order to approve the merger with Volksbank Romania as well as annual budget update following the new entity resulted through the merger. Registration date is October 28, 2015 and [...] >> mai mult >>

septembrie 4, 2015

Romania may tap international markets for EUR 1bn deal, according to Deputy Finance Minister Enache Jiru.

Based on local media, citing the Deputy Finance Minister Enache Jiru, Romania may tap international markets for EUR 1 bn deal, as early as this month, following previous thoughts in this regard publicly announced also in early June this year. At that time, the Ministry of Finance was considering a [...] >> mai mult >>

septembrie 4, 2015

The Government may enter into a new pact with the International Monetary Fund and the European Union in 2016.

Romania plans to start talks with international creditors over a new and flexible facility supported by International Monetary Fund and European Union in 2016 in order to help protect against market shocks, backed by both ruling Social Democrats and opposition. (Source: Bloomberg) >> mai mult >>

septembrie 3, 2015

OMV PETROM (SNP RO): Petrom carries discussions with the Government with respect to the investment and economic perspectives related to the association between ExxonMobil and OMV Petrom, as well as medium and long term commercial challenges of the area.

According to the media, OMV Petrom and ExxonMobil carried discussions with the Government related to the medium and long term commercial potential of Black Sea provided the association with ExxonMobil, as well as the investment and economic perspectives of the area. Among other issues, the company [...] >> mai mult >>

septembrie 2, 2015

BIOFARM (BIO RO), SIF MUNTENIA (SIF4 RO): SIF Muntenia stake in Biofarm reached over 50% following cancellation of shares reacquired – the equivalent of 10% of initial share capital.

Previous to shares cancellation SIF Muntenia held a stake of 45.8% while SIF Banat Crisana had 19.83%, but currently the two SIFs carry a cumulated stake of 73%. According to Central Depository info, SIF Moldova also has a stake of 13.62%, while based on the media most probably SIFs intend to get [...] >> mai mult >>

septembrie 2, 2015

FX reserves of National Bank increased by almost EUR 200m in August.

FX reserves of the National Bank stood at EUR 29.34bn at the end of August, up from EUR 29.15bn at the end of July, with outflows during the month at EUR 465m; the gold stock stood at 103.7 tons valued at EUR 3.3bn due to change in value following international quotations movement. FX reserves [...] >> mai mult >>

septembrie 1, 2015

BANCA TRANSILVANIA (TLV RO): Share buy-back notification.

During 24-28 August 2015, the bank acquired 1.08m shares worth RON 2.38m at an average price of RON 2.196/share. (Source: Banca Transilvania) >> mai mult >>

septembrie 1, 2015

BANCA TRANSILVANIA (TLV RO): The National Bank gave its approval with respect to Volskbank acquisition.

The National Bank has authorized the merger by absorption between Volksbank Romania and Banca Transilvania (acquiring company), in accordance with the merger proposal. The merger is set to take place on 31st December 2015 (effective date of the merger) - consequently the functioning authorization of [...] >> mai mult >>

septembrie 1, 2015

Budget and Finance Committee of the Senate approved the amendments brought to the Tax Code following the consensus reached by the ruling parties.

Senate Budget Committee adopted unanimously the amendments brought to the Tax Code following the consensus reached by the ruling parties, among which the gradual decrease of VAT to 20% as of January 1st 2016 and 19% as of January 1st 2017. (Source: Wall Street) >> mai mult >>

august 31, 2015

FONDUL PROPRIETATEA (FP RO): New securities registration certificate.

According to Fondul Proprietatea release, the Financial Supervisory Authority (FSA) has issued the new securities registration certificate, ascertaining the new value of the subscribed share capital, as a result of the cancellation of 990.86m shares acquired through the fourth buy-back programme and [...] >> mai mult >>

august 21, 2015

TRANSGAZ (TGN RO): Transgaz does not expect FY’14 record net profit to repeat.

According to the media citing company officials, Transgaz does not expect again record profitability as revenues will be downward adjusted by ANRE, market watchdog, in order to account for the cost economies the company obtained during the year. In 2014, Transgaz has a profit up 52% Y/Y, following [...] >> mai mult >>

august 20, 2015

OMV PETROM (SNP RO): OMV and the Romanian State diverge upon the share capital increase.

According to the media, Petrom has received from the Romanian authorities an ultimatum related to the share capital increase with the value of the lands for which OMV Petrom has obtained ownership certificate. On the other hand, there are different laws that govern the evaluation method, and thus [...] >> mai mult >>

august 20, 2015

Arrears over 30 days for individuals rose by RON 400m in H1’15.

At the end of June 2015, arrears over 30 days for individuals rose to RON 11.5bn (EUR 2.6bn), up some RON 400m YTD. Compared to May, arrears increased by RON 200m. (Source: Ziarul Financiar) >> mai mult >>

august 20, 2015

TRANSELECTRICA (TEL RO): Preliminary certification of Transelectrica as TSO according to the model of ownership unbundling.

National power grid Transelectrica informed the investors that the National Regulatory Authority for Energy registered the company's preliminary certification as transmission system operator of the Romanian Power System according to the ownership unbundling model. Approval from the European [...] >> mai mult >>

august 19, 2015

OMV PETROM (SNP RO): Shareholders summoned for approving the secondary listing of OMV Petrom on the London Stock Exchange by issuance of Global Depository receipts, representing interests in OMV Petrom shares - approval valid by 31 December 2016. EGSM wil

august 19, 2015

BANCA TRANSILVANIA (TLV RO): EUR 160m to be repaid in the account of the reimbursement of risk commissions and reimbursements obtained in court.

According to market sources, Volksbank would have to repay some EUR 60m in risk commissions, while some EUR 100m are represented by reimbursements related to litigations. (Source: Ziarul Financiar) >> mai mult >>

august 19, 2015

FONDUL PROPRIETATEA (FP RO): FP announced the review of the strategic option for its stake in OMV Petrom.

The Fund continues to review strategic options to potentially reduce its ownership interest in OMV Petrom to below 15% of the issued share capital of the company including via a public offering of both shares and Global Depositary Receipts representing interests in shares. The review of the option [...] >> mai mult >>

august 18, 2015

Euro zone economy slowed down in Q2’15.

The economic growth of the Euro area slowed down unexpectedly in the Q2'15, as Germany, France and Italy posted some evolutions below expectations. According to official data published by Eurostat, the GDP of the Euro area increased by 0.3% in Q2'15 vs. Q1'15 when the advance stood at 0.4%. On an [...] >> mai mult >>

august 18, 2015

ARGUS (UARG RO): Argus to purchase raw materials worth EUR 9.5m from Comcereal Tulcea.

Argus Constanta will purchase oilseeds worth RON 41.9m (EUR 9.5m) from Comcereal Tulcea, in a two-stage transaction, worth some RON 9.9m and RON 32m, respectively. (Source: Argus Constanta) >> mai mult >>

august 18, 2015

TRANSELECTRICA (TEL RO): Transelectrica subsidiary to start business operations in Tanzania.

Smart subsidiary of Transelectrica, is to start-up business operations in Tanzania, as it will set-up a joint-venture with Tanzania Electric Supply Company (TANESCO) aiming at running modernization and construction projects for power lines related to the transport of electricity in the country. [...] >> mai mult >>

august 18, 2015

BANCA TRANSILVANIA (TLV RO): Stock acquisition notification.

During 10-14 August 2015, Banca Transilvania repurchased 830k shares worth RON 1.99m, at an average price of RON 2.396/share. (Source: Banca Transilvania) >> mai mult >>

august 18, 2015

BANCA TRANSILVANIA (TLV RO): BT has decided to lower the debt of Volksbank customers related to the loans for which the bank has perceived risk commissions.

Banca Transilvania has decided to lower the total debt of Volksbank customers, disregarding the loan currency, for which the bank has initially perceived risk commissions, administration and/or for minimum reserve requirement, and that have not been previously repaid. The debt reduction will be [...] >> mai mult >>

august 18, 2015

H1’15 net profit in the banking system stood at RON 1.2bn vs. RON 200m Y/Y.

According to Nicolae Cinteza, National Bank Head of Surveillance, in H1'15 banks posted a net profit of RON 1.2bn, solvability remained at elevated level (18.07%), while non-performing loans ratio continued dropping to 13.04%. However, it is difficult to say if by the end of the year, banks will [...] >> mai mult >>

august 14, 2015

Residential construction works, one of the segments that boosted constructions works volume, lost momentum and fell by a quarter in June.

Volume of residential constructions, one the main growth engines in the construction sector, dropped by 24.4% Y/Y in June and by 26.2% vs. May 2015, according to the data of the National Statistics Institute. Overall, construction works increased by 13.5% Y/Y in June, and by 3.5% compared to May [...] >> mai mult >>

august 14, 2015

TERAPLAST (TRP RO): Teraplast Group posted H1’15 net profit at RON 14m vs. RON 4.52m Y/Y, while at individual level, the parent company Teraplast reported a net profit of RON 11.19m vs. RON 1.53m in H1’14.

According to company release, the net profit evolution of Teraplast, at individual level, was primarily supported by the significant improvement of the operational performance, achieving an operational profit of RON 12.93m vs. RON 2.73m in H1'14, o/w some RON 0.5m in non-recurring gains. At Group [...] >> mai mult >>

august 14, 2015

BIOFARM (BIO RO): H1’15 net profit at RON 15m, up 2% Y/Y.

Biofarm reported H1'15 net profit at RON 15m, up 2% Y/Y, fueling a rise of 20% in its operational profit - total operating costs stood at RON 55.5m vs. RON 47.5m a year before. Operating profit reached RON 18.5m vs. RON 15.4m in H1'14. Company's liabilities fell to RON 36.8m at the end of June, [...] >> mai mult >>

august 14, 2015

Romgaz (SNG RO): H1’15 net profit at RON 766m (-12% Y/Y) as quarterly drop in profitability marked a harsh decline of 22.5% Y/Y to RON 203m.

Romgaz reported H1'15 net profit at RON 766m (-12% Y/Y), with Q2'15 bottom line dropping by 22.5% Y/Y, on the back of 19% Y/Y revenue during the quarter at RON 869m (H1'15 at RON 2.2bn, down 11% Y/Y). During the quarter the operating profitability was also negatively affected by the adjustment for [...] >> mai mult >>

august 12, 2015

OMV PETROM (SNP RO): Q2’15 clean CCS net income at RON 481m, in line with our estimate at RON 445m.

OMV Petrom reported Q2'15 clean CCS net income at RON 481m, supported by improved EBIT at RON 786m on both QoQ and Y/Y basis, on the back of better QoQ Upstream operational result at RON 531m as well as strong contribution in Downstream Oil from both refining and marketing business (Q2'15 EBIT for [...] >> mai mult >>

august 11, 2015

Romania sold RON 249.4m in 10Y bonds, at an average yield of 3.26%/year.

Romania's Finance Ministry sold RON 249.4m in the reopening of a 10Y bond due on June 2021, at an average yield of 3.26%/year - the bond issue which was launched in May 2011, was reopened in April, when the Ministry raised RON 200m at an average yield of 2.7%/year - additional auctions were held in [...] >> mai mult >>

august 11, 2015

BANCA TRANSILVANIA (TLV RO): BT reported H1’15 unconsolidated net profit at RON 190m (EUR 43m), +5% Y/Y.

According to Banca Transilvania release, H1'15 net profit reached RON 190m (EUR 43m), +5% Y/Y, on the back of 13.05% increase in revenues from fees and commissions at RON 211m, as well as 24% Y/Y hike in trading revenues up to RON 69.82m; gains on AVFS portfolio climbed to RON 200m vs. RON 107m Y/Y. [...] >> mai mult >>

august 7, 2015

According to the National Bank Governor, if the fiscal relaxation will be increased, the monetary policy has to be redefined.

Based on recent statements of the National Bank Governor, Mugur Isarescu, the annual inflation rate will drop this year into negative territory, putting the Central Bank in the position of facing deflation after two decades with high inflation. The National Bank has adjusted its year-end inflation [...] >> mai mult >>

august 6, 2015

According to JLL study, sale of non-performing loans accelerates – there is expected sale of portfolios worth EUR 6bn.

Based on most recent study of JLL, for Romania there are expectations for sales of portfolios worth EUR 5-6bn, with largest portfolio of bad loans at EUR 2.7bn (unpaid credit balance). It is likely that many of the banks' assets to be offered for sales in the near future, increasing demand on the [...] >> mai mult >>

august 6, 2015

IMPACT DEVELOPER & CONTRACTOR (IMP RO): H1’15 operating revenues at RON 56.94m, up 3x Y/Y, EBT hiked to RON 7.1m, compared to a loss of RON 1.9m posted in 2014.

Impact posted significantly improved results for H1'15 due to improved sales of apartments in Greenfield complex - by 30 June 2015, operating revenues went higher threefold Y/Y to RON 56.95m while operating expenses increased on the back of higher sales volume but at a slower pace on the back of [...] >> mai mult >>

august 5, 2015

BRD-GSG (BRD RO): BRD reported Q2’15 IFRS results – Q2’15 net profit landed at RON 132.4m (+55% Y/Y, -3% QoQ) in line with our estimates at RON 134.5m.

According to bank statement release, the robust results posted for the first half of the year, is due to the active risk management and cost saving efforts, but also driven by the positive signals regarding volumes - individuals' and large corporates' loan production and QoQ increase in core banking [...] >> mai mult >>

august 4, 2015

The National Bank FX reserves stood EUR 29bn as of end-July 2015.

According to National Bank data, as of end-July 2015, FX reserves stood at EUR 29bn, down EUR 1bn compared to June 2015, as a result of payments made with respect to Ministry of Finance bond issue. Compared to the same period of last year, FX reserves are down EUR 2bn. Gold reserve stood at 103.7 [...] >> mai mult >>

august 3, 2015

According to Bloomberg survey, it is anticipated that the National Bank will maintain the policy rate at 1.75% in its meeting of August 4th.

Based on Bloomberg survey, the emphasis upon fiscal easing, altogether with accelerating economic growth, uncertainties regarding the agreements with external creditors, including the divergence between the monetary policies of main central banks, amplify cautiousness and make improbable a scenario [...] >> mai mult >>

august 3, 2015

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Impact to invest EUR 3m in Greenfield complex.

Real-estate developer Impact has signed a contract worth EUR 3m for the construction of eight housing units located in Greeenfield complex. In June, shareholders approved the issuance of debentures worth a maximum RON 135m with a maturity of at least five years. Interest will be fixed and between [...] >> mai mult >>

august 3, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 24-29 July 2015, Fondul Proprietatea has repurchased 10.33m shares, worth RON 8.43m (avg. price of RON 0.816/share). Total number of shares repurchased since the start of the buyback program stands at 227.57m, worth RON 193.47m. According to Fondul Proprietatea release, the fifth buy-back [...] >> mai mult >>

iulie 31, 2015

ROMGAZ (SNG RO): Romgaz to start drilling in Slovakia in Q4 this year.

According to the media, Romgaz will start drilling in Slovakia in Q4 this year, targeting an area where it holds a stake of 25% and which could hide natural gas resources worth EUR 910m. Romgaz holds a stake of 25% in three blocks in north-east Slovakia, in partnership with polish company Discovery [...] >> mai mult >>

iulie 31, 2015

SIF TRANSILVANIA (SIF3 RO): The Supervisory Board decided the revocation of Mr. Radu Toia from the position of member of the Executive Board - Executive Vice President /Deputy C.E.O. starting with July 30, 2015 and appointed Mr. Marius Adrian Moldovan as

iulie 31, 2015

FONDUL PROPRIETATEA (FP RO): The Fund has announced the completion of the fifth buy-back programme.

According to Fondul Proprietatea release, the fifth buy-back programme has been completed, having acquired some 227.57m shares - 1.86% of the Fund's subscribed share capital, with a total value of RON 193.47m with a weighted average price at RON 0.8501 per share. The Fund Manager will request the [...] >> mai mult >>

iulie 29, 2015

BANCA TRANSILVANIA (TLV RO): BT to convert its bonds into shares at RON 2.2785/share.

According to bank disclosure, investors interested in converting their bonds into shares, can submit by 27 August 2015, a notification expressing their willingness to perform such action - the price at which the respective conversion will take place is RON 2.2785/share vs. RON 2.3790/share last [...] >> mai mult >>

iulie 28, 2015

The Government estimates for this year an economic growth of 3.3% and a deficit of 1.86% of GDP, following the budgetary adjustment.

Due to the budgetary adjustment, the Government estimates FY'15 GDP growth at 3.3% and a budget deficit of 1.86% of GDP vs. previous 2.5% growth and 1.83% deficit. In terms of revenues, the highest increase is taken into account for the income tax at RON 810m, while VAT revenues decrease is [...] >> mai mult >>

iulie 27, 2015

National Bank Governor supports President Klaus Iohannis regarding the New Tax Code.

According to recent statements of the National Bank Governor, Mugur Isarescu, the New Tax Code looks rather not applicable mostly due to the impact of lower taxation level on GDP, and thus supports the point of view of the President Klaus Iohannis. Mugur Isarescu argues that the impact on GDP would [...] >> mai mult >>

iulie 24, 2015

The Ministry of Finance borrowed RON 300m in 4Y bonds.

The Ministry of Finance borrowed RON 300m in 4Y bonds maturing in June 2019 at an average yield of 2.46%/year. Overall value of banks' offers stood at RON 800m - 2.66x oversubscription rate. (Source: Ziarul Financiar) >> mai mult >>

iulie 24, 2015

Administratia Porturilor Maritime – included in British top of best performing companies in related industry.

Administratia Porturilor Maritime, a company with RON 275m sales and net profit of RON 70m in 2014, was included in Plimsoll Top 400 Report, a British publication which eyes the financial performance of the largest companies in the transport industry and port services globally. Among the financial [...] >> mai mult >>

iulie 23, 2015

OMV PETROM (SNP RO): OMV published its Q2’15 Trading Statement – EUR 110m exploration expenses increase expected in Romania, Norway and Austria.

According to Q2'15 OMV Trading Statement, OMV Petrom Q2'15 hydrocarbon production stood at 181 kboe/day, flat Y/Y and down 1.62% QoQ, while for the Upstream segment, the OMV Group has announced some EUR 110m increase in exploration expenses on the back of write-offs of wells in Romania, Norway and [...] >> mai mult >>

iulie 22, 2015

ANTIBIOTICE IASI (ATB RO): The company estimates FY’15 sales would be short of RON 15m, following Ministry of Health new regulation regarding new pricing rules.

According to company disclosure, Antibiotice estimates FY'15 sales would lower by some 15m RON - based on preliminary analysis, following Ministry of Health new regulation related to lowering prices, which seems to negatively affect some 21 products of the company's drug portfolio. At the same time, [...] >> mai mult >>

iulie 21, 2015

On Monday, Finance Ministry borrowed RON 0.46bn in papers with almost five years maturity paying

On Monday, Finance Ministry borrowed RON 0.46bn in papers with almost five years maturity paying, in line with our call, 2.88% average yield and 2.89% cut off yield. [...] >> mai mult >>

iulie 21, 2015

President Klaus Iohannis on Monday promulgated a law on the Code of Fiscal Procedure.

President Klaus Iohannis on Monday promulgated a law on the Code of Fiscal Procedure. >> mai mult >>

iulie 21, 2015

Franklin Templeton Investments, manager of Romanian investment fund Fondul Proprietatea (FP.RO), wants to liquidate a fund focusing on Eastern Europe and Russia.

Franklin Templeton Investments, manager of Romanian investment fund Fondul Proprietatea (FP.RO), wants to liquidate a fund focusing on Eastern Europe and Russia. >> mai mult >>

iulie 20, 2015

OMV PETROM (SNP RO): EUR 42m investment in the redevelopment of Independenta oil field

OMV PETROM (SNP RO): EUR 42m investment in the redevelopment of Independenta oil field. According to company release to the media, OMV Petrom operates a project investment worth EUR 42m for the redevelopment of Independenta oil field. >> mai mult >>

iulie 17, 2015

According to the local media, ECB has created some private credit lines for Romania and Bulgaria.

The European Central Bank has created separate credit lines in the form of special swap arrangements or bilateral credit lines, for Bulgaria and Romania, in an effort to persuade the Central Banks not to cease the support offered for the local subsidiaries of Greek banks. The news related to this [...] >> mai mult >>

iulie 16, 2015

FONDUL PROPRIETATEA (FP RO): H1’15 net profit of RON 356m on RAS accounting standards.

Fondul Proprietatea has reported a net profit of RON 356.6m (EUR 80.2m), down 3x Y/Y for H1'15 (based on RAS accounting standards). Starting with January 2015, FP has posted losses following the adoption of IFRS standards for listed shares - required to be reported at fair value through P&L. Due [...] >> mai mult >>

iulie 16, 2015

Six companies in the aviation industry seeking to invest locally.

According to the local media, the aviation industry could attract this year a series of investments in production facilities, as a number of six companies in the field are interested in building, relocating as well as expanding facilities, produce equipment and components locally. According to Sorin [...] >> mai mult >>

iulie 14, 2015

Mark Mobius quits the lead portfolio manager position in Templeton Emerging Markets Investment Trust (TEMIT).

According to Franklin Templeton clarification issued to the media, Mark Mobius will relinquish control only of the Templeton Emerging Markets investment Trust (TEMIT) and not Templeton Emerging Markets. The decision will become effective starting October 1st, and TEMIT control will be taken over by [...] >> mai mult >>

iulie 13, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 06-09 July 2015, Fondul Proprietatea has repurchased 11.54m shares, worth RON 9.01m (avg. price of RON 0.781/share). Total number of shares repurchased since the start of the buyback program stands at 178.05m, worth RON 153.23m. The number of shares remaining to be bought back stands at [...] >> mai mult >>

iulie 10, 2015

BANCA TRANSILVANIA (TLV RO): July 27, 2015 – date chosen for the fixing of the price per share with respect to BT bonds – TLV shares conversion.

According to bank disclosure, in order to conduct the BT bonds - to - TLV shares conversion, July 27, 2015 has been chosen as the date for the fixing of the price per share. All bond owners who wish to convert their bonds into shares are to send irrevocable request in 30 days from the date chosen [...] >> mai mult >>

iulie 9, 2015

FARMACEUTICA REMEDIA (RMAH RO): The company targets new investors and looks also for M&A potential.

According to recent statements of Valentin Norbert Tarus, majority shareholder of Farmaceutica Remedia, some new investors into the company would be welcomed, or even merger and acquisition potential is eyed for, either with other companies or simply assets acquisition. Farmaceutica Remedia runs a [...] >> mai mult >>

iulie 9, 2015

ELECTRICA (EL RO): Negotiations with FP have not been resumed, but this option remains available.

According to Electrica representatives, Fondul Proprietatea would still be interested in selling its minority stakes in energy distribution & supply subsidiaries, currently at RON 770m worth in FP's NAV. On the other hand, Electrica denies that negotiations have been resumed, but does not [...] >> mai mult >>

iulie 7, 2015

NUCLEARELECTRICA (SNN RO): The company estimates FY’15 net profit at record low due to low energy selling price and higher maintenance charges.

Nuclearelectrica has budgeted for this year a net profit of RON 38m (-72% Y/Y) with operating revenues down 2.6% Y/Y to RON 1.76bn but operating expenses are estimated to increase by 3.3% Y/Y to RON 1.69bn, thus EBIT should decrease 42% Y/Y to RON 74m. Hence, the energy producer should resume to the [...] >> mai mult >>

iulie 7, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 29 June-03 July 2015, Fondul Proprietatea has repurchased 13.59m shares, worth RON 10.84m (avg. price of RON 0.797/share). Total number of shares repurchased since the start of the buyback program stands at 166.51m, worth RON 144.22m. The number of shares remaining to be bought back stands at [...] >> mai mult >>

iulie 6, 2015

The Ministry of Energy disapproves Hidroelectrica listing while still under insolvency procedure.

According to recent statements of Andrei Gerea, Ministry of Energy, listing Hidroelectrica while still under insolvency procedure is out of question, as the offer would get closed at a discount compared to real worth of the company. On the other hand, Remus Borza, disapproves a longer time period [...] >> mai mult >>

iulie 1, 2015

he Ministry of Finance has scheduled borrowings worth RON 2.55bn for July.

According to the Ministry of Finance, for July 2015, there have been planned some RON 2.55bn in borrowings from commercial banks, out of which RON 2.3bn in eight Treasury Bills auctions and state bonds, while RON 255m are to be contracted through additional sessions of non-competitive bids, mostly [...] >> mai mult >>

iunie 30, 2015

OMV PETROM (SNP RO): Petrom and Exxon required one more year for exploring the Midia offshore perimeter.

OMV Petrom and Exxon have asked for a one year extension of the exploration license regarding the Midia offshore perimeter, arguing that some extra time would be required in order to complete studying the geology of the field provided some increased complexity than originally estimated. (Source: [...] >> mai mult >>

iunie 30, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 22-26 June 2015, Fondul Proprietatea has repurchased 11.74m shares, worth RON 9.58m (avg. price of RON 0.816/share). Total number of shares repurchased since the start of the buyback program stands at 152.92m, worth RON 133.38m. The number of shares remaining to be bought back stands at [...] >> mai mult >>

iunie 30, 2015

BNR could maintain unchanged at 1.75% the key interest rate.

According to Association of Financial Banking Analysts (AAFBR) estimates, the National Bank could maintain unchanged the key interest rate at 1.75% within the 1st July monetary policy meeting. Also, the majority of the analysts that participated to the survey, believe that RMOs - RON and FCY [...] >> mai mult >>

iunie 29, 2015

Hidroelectrica made EUR 58m hydro plant investment.

Following EUR 58m investment, Hidroelectrica will start operations at Bretea hydro plant in December this year, according to company officials. The power plant has an installed capacity of 12MW, with work in progress at 62% currently. The investment project on the Strei River aims at building up to [...] >> mai mult >>

iunie 26, 2015

TRANSELECTRICA (TEL RO): SMART subsidiary looks for contracts in Africa.

According to the media citing company officials, SMART subsidiary of Transelectrica, would be interested in running contracts in Africa - mostly related to the maintenance as well as set-up of the electricity transmission networks. However, company management did not disclose any contract value or [...] >> mai mult >>

iunie 25, 2015

The Chamber of Deputies approved the Tax Code which provides for reduction of VAT from 24% to 19% as of January 1st, 2016.

The Chamber of Deputies approved the Tax Code which stipulates VAT rate reduction from 24% to 19%, as of January 1st, 2016, whereas initially, the government proposed lowering VAT to 20% from next year and to 18% in 2018. Also, according to the Fiscal Code, the tax on special constructions will be [...] >> mai mult >>

iunie 25, 2015

Standard&Poor’s warns that could downgrade Romania’s rating.

Standard&Poor's warned that it could downgrade the credit rating of Romania, Bulgaria, Republic of Macedonia, Serbia and Albania, countries that could get their banking systems affected the most from the Greek debt crisis. As per S&P, Greek banks have systematically important banks in those [...] >> mai mult >>

iunie 25, 2015

TRANSGAZ Medias (TGN RO): Standard & Poor's upgraded Transgaz Medias to BB+ on improved regulatory framework – outlook stable.

Standard & Poor's (S&P) has upgraded Transgaz Medias to "BB+" from previous "BB" due to improved regulatory framework which will support the company's cash-flow generation at least until the end of the current regulatory period in 2017. According to S&P, over the past years, the [...] >> mai mult >>

iunie 24, 2015

Brussels warns upon negative consequences of lowering VAT.

The European Commission gave negative reaction provided the Government decision to reduce VAT from 24% to 19%, claiming it is a unilateral decision, which can negatively affect Romania's fiscal durability. Also, based on Annika Breidthardt statements, European Commision spokesperson, this move is [...] >> mai mult >>

iunie 23, 2015

Ministry of Finance borrowed RON 300m from banks.

The Ministry of Finance borrowed RON 300m from banks through 5Y benchmark bonds, at an average yield of 3.04% per year. The issue was 3.09x oversubscribed following requests of RON 927.4m from banks' side. Amounts are meant to refinance the public debt as well as financing the state budget deficit. [...] >> mai mult >>

iunie 23, 2015

Romania’s GDP could grow by 3.1% in 2015, should Euro area revival keep its growth coordinates.

According to EY Eurozone Forecast (EEF), should the Euro area keep its growth coordinates, Romania's GDP could grow by 3.1% in 2015 and by 3.2% in 2016, having at the same time the possibility to exceed these level after 2017. Based on the same study, consumption is now the main driver of growth in [...] >> mai mult >>

iunie 23, 2015

BRD-GSG, BANCA TRANSILVANIA (BRD RO, TLV RO): BRD estimates that Prima Casa ceiling will be reached by September.

Due to robust demand since the beginning of the year Prima Casa program ceiling set initially for the entire banking sector might end before the year-end. Thus, since beginning of the year, FNGCIMM (National Credit Guarantee Fund for SMEs) granted 6,800 guarantees, with a value of RON 555m for loans [...] >> mai mult >>

iunie 18, 2015

National Bank governor sees FY’15 GDP growth at 4%.

According to recent statements of Mugur Isarescu, National Bank governor, this year Romania should face an economic growth of 4% provided that Romania has solved its macroeconomic disequilibria while the monetary policy should stall ahead with no additional rates cut in the light of the growth eyed. [...] >> mai mult >>

iunie 18, 2015

TRANSGAZ (TGN RO): Transgaz to issue RON 500m bonds for supporting its investment program.

Gas transporter Transgaz intends to raise on the stock exchange RON 500m through bonds issue, in order to finance its investment program. The EUR 1.5bn investment program is intended to bring together the national grid with external networks as well as supporting transportation of natural gas [...] >> mai mult >>

iunie 12, 2015

Romania ranks eighth place in Europe in terms of FDIs.

According to FDI magazine of Financial Times, Romania ranks eight in Europe in terms of FDI, similar position with Turkey and Ireland at USD 5bn amount received in 2014. Based on the number of Greenfield projects completed, Romania ranks on the nine place with 125 projects, down 2% from 2013. [...] >> mai mult >>

iunie 12, 2015

Hidroelectrica 15% stake IPO should worth at least EUR 500m.

According to Remus Borza, judicial factor of Hidroelectrica, even if the company is under insolvency procedure, the listing prospectus will contain a special clause stating that should the state not receive at least EUR 500m for its 15% stake, the listing will be canceled. At the same time, the [...] >> mai mult >>

iunie 12, 2015

Arrears over 1 year amount to EUR 6bn or some 85% of total loan overdue payments at the end of April 2015.

Retail and corporate arrears over 1 year amounted to RON 26.6bn (EUR 6bn), or some 85% of total loan overdue payments at the end of April 2015, according to National Bank data. All retail and corporate overdue payments are worth RON 31bn (EUR 7bn), down RON 1bn Y/Y, while total outstanding amounts [...] >> mai mult >>

iunie 12, 2015

Banking system Q1’15 profitability stood at RON 800m, according to National Bank officials.

At the end of Q1'15, banking system profitability stood at RON 800m and should remain positive for April as well, according to Nicolae Cinteza, Head of Surveillance Directorate for the National Bank. Data also shows that the system is stable with increased solvability - solvency ratio reached 18.6%, [...] >> mai mult >>

iunie 12, 2015

ROMPETROL RAFINARE (RRC RO): Government to put up for sale a 27% stake in Rompetrol Rafinare for USD 200m.

The Romanian State, through the Ministry of Energy intends to put up for sale a 27% stake in Rompetrol Rafinare for a minimum price of USD 200m, according to a Government draft law. KazMunaiGas has preemptive rights, while the state equity stake would remain at 18% should the sale take place. [...] >> mai mult >>

iunie 12, 2015

PETROM, ROMGAZ (SNP RO, SNG RO): According to a draft law published by Ministry of Energy, starting July 1st, 2015, the price of natural gas for non-households should reach 60 RON/MWh.

Based on IMF agreed gas liberalization calendar, the price of natural gas for non-households will increase on average by 5%/year until 2018, first adjustment in this regard following to be undertaken starting 1st of July 2015 (the gas price for non-households is to rise by 6% against the level of [...] >> mai mult >>

iunie 11, 2015

BRD-GSG, BANCA TRANSILVANIA (BRD RO, TLV RO): According to Raiffeisen Bank International, by 2019 Romania looks well positioned in capturing highest growth in lending area among CEE countries.

Based on a report recently published by Raiffeisen Bank International (RBI), by 2019, Romania is best positioned to deliver highest growth rate in lending unbundling among CEE states, mostly provided improved macroeconomic outlook, low interest rate environment which will support credit demand. The [...] >> mai mult >>

iunie 10, 2015

ELECTRICA (EL RO): Electrica needs shareholder approval for RON 860m CAPEX worth.

According to a company release, Electrica runs again for approving its FY'15 CAPEX plan, following that first proposal was rejected by the State. The new proposal stands higher by 30% at RON 860m vs. previous proposal, but however looks lower by 40% compared to the amount assumed initially provided [...] >> mai mult >>

iunie 9, 2015

According to media estimates, 20-30% stake in Compania Nationala Aeroporturi Bucuresti could worth some 90-150m EUR.

Based on local media estimates, the value of Compania Nationala Aeroporturi Bucuresti, could be around EUR 450m, while a stake of 20-30% - which should get listed on the local stock exchange, could worth EUR 90-150m. The government remains optimistic in getting listed this year the operator of [...] >> mai mult >>

iunie 9, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 1-5 June 2015, Fondul Proprietatea has repurchased 3.65m shares, worth RON 3.2m (avg. price of RON 0.88/share). Total number of shares repurchased since the start of the buyback program stands at 128.58m, worth RON 113m. The number of shares remaining to be bought back stands at 98.99m. [...] >> mai mult >>

iunie 5, 2015

BANCA TRANSILVANIA (TLV RO): Fitch Ratings has upgraded Banca Transilvania's (BT) Long-term Issuer Default Rating (IDR) to 'BB' from 'BB-' and removed it from Rating Watch Evolving (RWE).

BT's IDRs are driven by the bank's VR (Viability Rating) and therefore share key rating drivers. The Support Rating of '5' and Support Rating Floor of 'No Floor' reflect Fitch's view that sovereign support, while possible, can no longer be relied upon for Banca Transilvania, as for most other [...] >> mai mult >>

iunie 4, 2015

ALBALACT (ALBZ RO): RC2 fund representatives see good exit potential in Albalact accession to Regulated market.

According to RC2 fund representatives, the accession of Albalact to the Regulated market could be a good exit point from the shareholding structure of the diary producer. The exit would be done in several steps, avoiding an accelerated sale, depending also on the evolution of the share price. RC2 [...] >> mai mult >>

iunie 4, 2015

BANCA TRANSILVANIA (TLV RO): According to the media, Banca Transilvania has submitted an offer for the acquisition of Piraeus Bank Romania.

Based on media details that have not been yet been confirmed, Banca Transilvania and OTP Bank have submitted offers for the acquisition of Piraeus Bank Romania, for a price that could vary between 150-200m EUR - around the book value of the bank (EUR 200m). At the same time, same sources reveal that [...] >> mai mult >>

iunie 3, 2015

NUCLEARELECTRICA (SNN RO): Completion of the planned outage program of Cernavoda NPP Unit 2.

According to company disclosure, the works related to the planned outage of Cernavoda NPP Unit 2 were completed - these works are performed once every two years for each unit. (Source: BVB) >> mai mult >>

iunie 3, 2015

IMPACT (IMP RO): Shareholders have re-approved RON 135m bond issuance in order to finance ongoing projects.

According to company disclosure, Impact shareholders have re-approved RON 135m bond issuance in order to finance Greenfield Plaza project as well as additional infrastructure related to Greenfield project. The bonds will mature in at least 5 years and will offer a fixed interest rate between 5.5% [...] >> mai mult >>

iunie 3, 2015

The Ministry of Finance plans RON 2.76bn in borrowings for the month.

For June 2015, the Ministry of Finance has planned borrowings worth RON 2.76bn, out of which RON 2.5bn in benchmark treasuries while RON 255m to be sold in additional non-competitive bond auctions. The amounts are meant to refinance the public debt and finance the state budget deficit. (Source: [...] >> mai mult >>

iunie 3, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 25-29 May 2015, Fondul Proprietatea has repurchased 4.27m shares, worth RON 3.79m (avg. price of RON 0.88/share). Total number of shares repurchased since the start of the buyback program stands at 124.93m, worth RON 109.86m. The number of shares remaining to be bought back stands at 102.64m. [...] >> mai mult >>

iunie 3, 2015

Foreign exchange reserves soared by EUR 126m as of May 2015, up to EUR 30.22bn.

According to National Bank disclosure, on May 31st 2015, National Bank of Romania foreign exchange reserves stood at EUR 30.22bn, vs EUR 30.09bn as of April 30th 2015. The gold stock remained unchanged at 103.7 tons. However, following the change in the international price of gold, its value [...] >> mai mult >>

iunie 2, 2015

GDP will grow by 3% per year during 2015-2017, according to The National Prognosis Commission.

Based on the last estimates update of The National Prognosis Commission, GDP will advance by over 3% per year during 2015-2017, as the estimates were improved in line with the international financial institutions optimism. In 2018, GDP growth will reach 4%, domestic consumption and investment [...] >> mai mult >>

mai 29, 2015

PETROM (SNP RO): Petrom reached five exploration wells in the Black Sea.

According to the local media, Petrom together with ExxonMobil reached five exploration wells in Neptun perimeter, some completed, others in progress, each such well cost being around 100-150m USD. Domino-1, Domino-2, South Pelican-1, Dolphin and Flamingo-1-one can be considered as codenames for the [...] >> mai mult >>

mai 28, 2015

ELECTRICA (EL RO): Electrica considers a takeover in Republic of Moldova, should regional conditions improve.

According to company officials, cited by local media, Electrica would be interested in acquiring additional business in Republic of Moldova, should regional conditions improve. Based on the same source, the company's priority is the distribution and supply of electrical energy, but other commodities [...] >> mai mult >>

mai 28, 2015

HIDROELECTRICA listing could take place in 2016 spring, in an optimistic tone.

According to the media, Hidroelectrica could get listed in early 2016 at earliest, once the company would exit the insolvency procedure. (Source: Ziarul Financiar) >> mai mult >>

mai 28, 2015

ANTIBIOTICE (ATB RO): Antibiotice would be interested in EUR 40m for building two new production sites.

According to company officials, Antibiotice would be interested in building two new production sites worth some EUR 40m, investment that could be run by attracting a strategic investor in the company shareholding structure. (Source: Ziarul Financiar) >> mai mult >>

mai 27, 2015

Hidroelectrica to remain in insolvency for the rest of the year.

Despite expectations in this regard, Hidroelectrica will not exit insolvency process this year, mostly due to lengthy court actions, according to the company's legal administrator. Hidroelectrica managed to reorganize its activity in the last three years and posted record profits in 2014 and in [...] >> mai mult >>

mai 27, 2015

BRD-GSG (BRD RO): BRD has new Chairman of the Board of Directors.

Giovanni Luca Soma was appointed Chairman of the Board of Directors of BRD, the second largest bank in the system in terms of assets. Soma was appointed to this position after Philippe Lhotte decided to withdraw from the position of president and keep only the position of CEO, as the Emergency [...] >> mai mult >>

mai 26, 2015

According to Cegedim study, medicine sales were up 10.7% in Q1’15 over 2014.

The amount of drugs issued in Q1'15 stood at RON 3.27bn, at distribution price, increasing by 10.7% over 2014, according to Pharma & Hospital Report survey, conducted by Cegedim. Out of this amount, non-prescription drugs were worth RON 0.63bn, up by 27.7% Y/Y; the hospital segment stood at RON [...] >> mai mult >>

mai 26, 2015

Romania sells RON 400m in 6M T-Bills at 1.26% yield.

Romania's Ministry of Finance sold RON 400m (EUR 90m) in 6M T-Bills at an average yield of 1.28%; book orders stood at RON 980.6m. (Source: Ziarul Financiar) >> mai mult >>

mai 26, 2015

CONPET (COTE RO): Conpet expects an increase in the revenues from import sub-system.

According to company officials cited by the local media, Conpet expects for this year some higher revenues derived from import sub-system, following that local refineries look tempted by the low oil price environment which could attract higher imports. Q1'15 imported volume jumped by 74% Y/Y, while [...] >> mai mult >>

mai 26, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 18-22 May 2015, Fondul Proprietatea has repurchased 5m shares, worth RON 4.46m (avg. price of RON 0.88/share). Total number of shares repurchased since the start of the buyback program stands at 120.65m, worth RON 106.07m. The number of shares remaining to be bought back stands at 106.92m. [...] >> mai mult >>

mai 25, 2015

BANCA TRANSILVANIA (TLV RO): 6.81m shares worth RON 16.7m to be allocated to employees who have shown extraordinary performance in their professional activity.

For a couple of several years, Banca Transilvania operates an employee retention program through which allocates to its performing employees free shares in the bank; these are repurchased from the market, while subsequently, the employees have the opportunity to increase their holdings without [...] >> mai mult >>

mai 25, 2015

FONDUL PROPRIETATEA (FP RO): The decrease of the subscribed share capital with respect to cash distribution was endorsed by the Financial Supervisory Authority.

Following Financial Supervisory Authority approval of the decrease of the subscribed share capital, starting 21 May 2015, Fondul Proprietatea new value of subscribed share capital is RON 10.97bn, divided into 12.18bn shares with a nominal value of RON 0.90/share. Fondul Proprietatea reminds to [...] >> mai mult >>

mai 22, 2015

ROMGAZ (SNG RO): Invesco US Group resumes investment in Romania.

Invesco US Group, one of top 20 largest money managers in the world, bought in March 1m shares in Romgaz, thus resuming investments on the local Stock Exchange. The American giant became a shareholder in Romgaz through two investment funds dedicated to small companies - European Small Company and [...] >> mai mult >>

mai 22, 2015

TRANSGAZ, ROMGAZ, PETROM (TGN RO, SNG RO, SNP RO): Iasi-Ungheni pipeline to be extended up to Chisinau in Moldova and Onesti in Romania.

Under a memorandum signed yesterday by the representatives of the two governments, the Iasi-Ungheni pipeline will be extended up to Chisinau in Moldova and Onesti in Romania. According to the initial official preliminary estimates, the expansion of the pipeline Iasi-Ungheni to Chisinau requires an [...] >> mai mult >>

mai 22, 2015

ALBALACT (ALBZ RO): Diary producer Albalact to get listed on the regulated market of the Bucharest Stock Exchange.

Following listing prospectus approval from the Financial Supervisory Authority, Albalact will get transferred to the regulated segment of the Bucharest Stock Exchange. (Source: Bursa) >> mai mult >>

mai 21, 2015

BANCA TRANSILVANIA, BRD-GSG (TLV RO, BRD RO): The Chamber of Deputies has approved the law for insolvency on private individuals.

At the moment, the potential impact of the law remains quite unclear; National Bank officials stated the law should be beneficial for banks, according to recent states of Nicolae Cinteza - Head of National Bank Surveillance Directorate, while the initiator of the law stated that personal insolvency [...] >> mai mult >>

mai 21, 2015

OMV PETROM (SNP RO): OMV Petrom has contracted a EUR 1bn revolving credit facility.

According to company release, OMV Petrom has contracted a EUR 1bn multi-currency credit line from a syndicate of 17 banks, which replaces the syndicated EUR 930m loan facility contracted in November 2011 that was not used on the date of contracting the new loan. The new credit line has 5 years [...] >> mai mult >>

mai 20, 2015

PETROM, ROMGAZ (SNP RO, SNG RO): Ukraine seems interested in importing gas from Romania, in an attempt of diversifying its supply sources.

According to Ukrtransgaz company officials, cited by the local media, Ukraine seems interested in importing natural gas from Ukraine, in an attempt of diversifying its supply sources. According to the same source, in 2016 Romania could potentially export around 2bn cm. (Source: Ziarul Financiar) [...] >> mai mult >>

mai 20, 2015

BANCA TRANSILVANIA (TLV RO): Fitch downgrades Suport Rating and Support Rating Floors for Banca Transilvania.

Fitch Ratings has downgraded Banca Transilvania S.A's Support Rating (SR) to '5' from '3'. The Support Rating Floors (SRF) for Banca Transilvania has also been revised to 'No Floor' from 'BB-'. The banks' other ratings are unaffected by today's rating actions. In line with its expectations announced [...] >> mai mult >>

mai 19, 2015

FONDUL PROPRIETATEA (FP RO): Share buyback notification.

During 11-15 May 2015, Fondul Proprietatea has repurchased 7.6m shares, worth RON 6.78m (avg. price of RON 0.892/share). Total number of shares repurchased since the start of the buyback program stands at 115.63m, worth RON 101.61m. The number of shares remaining to be bought back stands at 111.93m. [...] >> mai mult >>

mai 19, 2015

The banking system posted a cumulated profit of RON 600m in the first two months of the year.

According to Central Bank data, the banking system posted a cumulated profit of RON 600m in the first two months of the year, up 20% Y/Y, on the back of significantly lowered cost of risk. Recall that in FY'14, at aggregated level, banks posted a loss of RON 4.3bn, due to increased costs with [...] >> mai mult >>

mai 19, 2015

Joint mission of the IMF and EC arrives locally today.

A technical joint mission of the International Monetary Fund (IMF) and European Commission (EC) arrives today in Bucharest for technical discussions on the Tax Code and the state of implementation of the measures contained in the program with the two international financial institutions, visit which [...] >> mai mult >>

mai 18, 2015

OMV PETROM (SNP RO): Q1’15 net profit of RON 345m (-68% Y/Y).

OMV Petrom reported Q1'15 net profit of RON 345m (-68% Y/Y), on the back of much lower Y/Y upstream result following the sharp drop in crude oil prices, which was only partially offset by the positive effects brought by FX and slightly higher sales volumes. At the same time, Q1'15 results were [...] >> mai mult >>

mai 14, 2015

NUCLEARELECTRICA (SNN RO): Q1’15 net profit at RON 35.4m (+11% Y/Y), EBITDA hiked by 24% Y/Y to RON 160m.

Nuclearelectrica reported Q1'15 net profit of RON 35.4m (+11% Y/Y), with operating revenues up 1% Y/Y to RON 486m, while operating expenses dropped at 7% Y/Y to RON 326m. Operating revenues small advance Y/Y is mostly due to changing sales structure (the amount of energy sold on the regulated market [...] >> mai mult >>

mai 13, 2015

SIF BANAT CRISANA (SIF1 RO): Q1’15 net profit of RON 18.5m, down 66% Y/Y.

SIF Banat-Crisana posted Q1'15 net profit of RON 18.5m, down 66% Y/Y, revenues stood at RON 30.2m, down 66% Y/Y on the back of lower investment income. NAV was RON 1.66bn, up 3.78% YTD, NAV/share of RON 3.0334 vs. last closing of RON 1.4950/share. (Source: SIF Banat Crisana) >> mai mult >>

mai 13, 2015

TRANSGAZ (TGN RO): Q1’15 net profit down 12% Y/Y to RON 199m.

Transgaz reported Q1'15 net profit of RON 199m (-12% Y/Y), following 11% Y/Y drop in total revenues to RON 471m due to the lower revenues obtained from the volumetric component on the back of decreasing weight of variable component in revenues from 65% to 50%, as well as a drop in the gas quantities [...] >> mai mult >>

mai 12, 2015

FONDUL PROPRIETATEA (FP RO): Share repurchase notification.

During 4-8 May 2015, the Fund has repurchased 7.29m shares at an average price of RON 0.905/share, worth in total RON 6.6m. Total number of shares repurchased since the start of the program is 108.03m, worth RON 94.82m. Number of shares left to be repurchased stands at 119.55m. (Source: Fondul [...] >> mai mult >>

mai 12, 2015

ROMGAZ (SNG RO): Q1’15 net profit stood at RON 563m (-7.46% Y/Y).

Operating income decreased by 5.56% Y/Y because of a reduced gas demand, especially from the fertiliser production sector. Such decrease lead to a reduced gas production and implicitly to a lower revenue, operating income and profit than expected. Thus, operating income reached RON 1.29bn (-5.83% [...] >> mai mult >>

mai 11, 2015

BRD-GSG (BRD RO): Q1’15 results’ presentation highlights.

During Q1'15 the bank has continued improving its risk profile and cost base while for FY'15 reduction in the cost of risk will be the main bottom line driver. The decreasing NPL ratio vs. Q1'14 is mostly due to write-offs and sales of impaired receivables, while for FY'15 sale of NPLs is expected [...] >> mai mult >>

mai 11, 2015

OMV PETROM (SNP RO): OMV Petrom sees current number of gas stations as optimal.

OMV Petrom, the largest local oil company, sees the number of stations that currently operates as optimal, even though last year the company was seeking buyers for a batch of about 100 filling stations. Petrom had a market share of 39% in 2010 while in 2014 its market share eroded to 34%, according [...] >> mai mult >>

mai 11, 2015

FONDUL PROPRIETATEA (FP RO): Manchester Securities Corporation and Beresford Energy stake in Fondul Proprietatea SA falls below 20%.

As of 5 May 2015, aggregated holdings of Manchester and Beresford represent 16.52% of the share capital of the Fund and 2,012,251,935 voting rights, representing 18.76% of the total number of voting rights in Fondul Proprietatea. (Source: Fondul Proprietatea) >> mai mult >>

mai 8, 2015

ARGUS Constanta (UARG RO): Q1’15 reported net profit at RON 1.28m, turnover increased 2.12x Y/Y to RON 57.83m.

According to company release, Q1'15 results improved considerably due to the better funding access related the purchase of raw materials necessary to carry out activity, which resulted in increased sales. In the 2014-2015 season, Argus purchased 15,700 tons of rapeseed and 85,000 tons of sunflower [...] >> mai mult >>

mai 8, 2015

BANCA TRANSILVANIA (TLV RO): Over 5,000 Volksbank clients accepted the conversion of CHF loans to RON.

According to recent statements of Omer Tetik, CEO of Banca Transilvania, over 5,000 Volksbank customers accepted the conversion of CHF loans to RON since the start of conversion offer as of May 4. Banca Transilvania has assumed to return the risk fee perceived within the CHF credit contracts and to [...] >> mai mult >>

mai 7, 2015

NUCLEARELECTRICA (SNN RO): Planned shutdown of Cernavoda NPP Unit 2.

Cernavoda NPP Unit 2 will enter the planned outage program, starting with May 8th, 2015. The planned outages of Cernavoda NPP Units 1 and 2 are part of the maintenance program and are performed once every two years for each unit. (Source: BSE) >> mai mult >>

mai 7, 2015

HIDROELECTRICA: CAPEX plan at EUR 1.3bn over FY’15-FY’20.

Hidroelectrica has allotted for the period during 2015-2020 a capex plan worth EUR 1.3bn, out of which EUR 450m for projects in progress (Racoviţa, Bretea, Răstoliţa, Siriu-Surduc, Dumitra-Bumbeşti). EUR 240m will be allocated for maintenance capex, while EUR 300m will be directed to investments [...] >> mai mult >>

mai 7, 2015

National Bank eyes inflation rate at 0% over the next 12 months.

According to Romania's National Bank, the inflation rate is seen stalling at zero for the next 3-to-4 quarters, following the government's decision to cut VAT for all food products to 9% from 24% starting June 1. (Source: Ziarul Financiar) >> mai mult >>

mai 7, 2015

OMV PETROM (SNP RO): OMV PETROM to become integrated power&gas supplier.

According to the media, OMV Petrom plans to introduce combined electricity and gas offers and thus operate as an integrated utility supplier. Also on marketing side, the company is trying to implement a "store within a store" concept in its 544 gas stations network. (Source: Ziarul Financiar) >> mai mult >>

mai 6, 2015

FONDUL PROPRIETATEA (FP RO): The Fund intends to borrow RON 500m for share buybacks.

The Fund has informed shareholders and investors that on 4th May 2015, it has concluded a revolving committed credit facility of RON 500m with Citibank Europe PLC Dublin - Romanian Branch. The purpose of the credit facility is for general corporate use, including share buybacks, but excluding [...] >> mai mult >>

mai 6, 2015

BRD-GSG (BRD RO): Q1’15 consolidated net profit at RON 140m, up 2.9x vs. Q1’14; Q1’15 unconsolidated net profit at RON 136.39m vs. our estimate of RON 119m.

BRD reported Q1'15 consolidated net profit at RON 140m, up 2.9x. vs. Q1'14, while on unconsolidated basis, the bottom line stood at RON 136.39m, beating both our estimate and consensus - i.e RON 119m in our forecast and Bloomberg median of RON 112m. The significant hike in profitability is mostly [...] >> mai mult >>

mai 5, 2015

International Reserves – April 2015 data.

National Bank of Romania foreign exchange reserves stood at EUR 30.09bn vs EUR 30.59bn as of March 2015, with the gold stock remaining unchanged at 103.7 tons (valued at EUR 3.6bn). The international reserves of Romania (FX and gold) stood at EUR 33.68bn vs EUR 34.26bn as of March 2015. (Source: [...] >> mai mult >>

mai 5, 2015

FONDUL PROPRIETATEA (FP RO): Notification regarding the buy-back program run during 27-30 April 2015.

According to Fondul Proprietatea release, during 27-30 April 2015 buy-back run, there have been repurchased 10.10m shares amounting to RON 9.24m at an avg. price of RON 0.9148/share. The total number of shares repurchased since the start of the buy-back program stands at 100.73m with the number of [...] >> mai mult >>

mai 4, 2015

The Government plans new listings for the current year or 2016, the latest.

According to Prime Minister Ponta, the Government plans to list on the BSE and London Stock Exchange, in 2015 or 2016 the latest, companies like Bucharest - Otopeni International Airport, Constanta Harbor, hydropower producer Hidroelectrica and Telekom Romania. At the same time, the listing of Tarom [...] >> mai mult >>

mai 4, 2015

According to the Convergence Programme, during 2015-2017, the economy will grow by more than 3% on an annual basis.

During 2015-2017, the Romanian economy will grow by more than 3% on an annual basis, while in 2018 GDP advance will reach 4%, with domestic consumption and investments as main drivers, according to the Convergence Programme. The Government keeps its commitment to euro adoption starting January 1st [...] >> mai mult >>

mai 4, 2015

ROMGAZ (SNG RO): Romgaz asks for recognition of EU legislation on public procurement.

Romgaz representatives requested to the Ministry of Energy to recognize EU legislation on public procurement in operating, legal and functional unbundling of storage activity of Romgaz and recognition of the strategic nature of underground storage of natural gas. (Source: Bizenergy.ro) >> mai mult >>

aprilie 30, 2015

BANCA TRANSILVANIA (TLV RO): O&E GSM resolutions, meeting held on April, 29 2015.

During the O&E GSM held on April 29, the shareholders have decided the following: i) approval of FY'14 financial statements - individual and consolidated; ii) share capital increase with RON 417.38m by issuing 417.38m share at a nominal value of RON 1/share - the increase in the share capital [...] >> mai mult >>

aprilie 30, 2015

BANCA TRANSILVANIA (TLV RO): Q1’15 net profit landed at RON 151.5m (+46.5% Y/Y, vs. RON 121m estimated) on the back of lower than expected loan loss provisions at RON 142m vs. RON 168m in our estimates and RON 163m release of AVFS gains vs. RON 116m in

Q1'15 data showed loans advanced 1.7% YTD while deposits growth stood at RON 0.5% YTD. Q1'15 bank solvency stood at 17.83%, cost to income ratio at 41.8%. (Source: Banca Transilvania) >> mai mult >>

aprilie 16, 2015

Proposed and approved dividends

Company Ticker 2013 Net Profit (RON m) 2014P Net Profit (RON m) Profit increase YoY 2013 Payout Rate 2014 Proposed gross payout rate 2014 Proposed gross DPS (RON) Current proposed gross DY Proposed dividend registration date GSM [...] >> mai mult >>

aprilie 30, 2015

NUCLEARELECTRICA (SNN RO): O&E GSM resolutions, meeting held on April 29, 2015.

Shareholders have approved a gross dividend of RON 0.30/share (payout of 68% out of FY'14 net profit), DIVY stands at 3.9% based on last closing price. Ex-date is 05th of May, 2015 with payment date set on June 26th, 2015. (Source: Nuclearelectrica) >> mai mult >>

aprilie 30, 2015

CONPET Ploiesti (COTE RO): FY’15 budget to be submitted for approval during Ordinary GSM as of June 10th, 2015.

Conpet FY'15 budget has been published in the Official Gazette, following approval of the Gvnmt - thus, FY'15 revenues are seen at RON 415m vs. RON 403m achieved as of FY'14, net income should land at RON 52.7m vs. RON 51.43m achieved as of FY'14. The budget follows shareholders' approval on June [...] >> mai mult >>

aprilie 30, 2015

CONPET Ploiesti (COTE RO): O&E GSM resolutions, meeting held on April 28, 2015.

Shareholders have approved a gross dividend of RON 5.9409792/share (payout of 91% of FY'14 net profit), DIVY of 8.9% based on last closing price. Registration date is July 30. (Source: Conpet) >> mai mult >>

aprilie 30, 2015

SIF TRANSILVANIA (SIF3 RO): SIF Transilvania to pay dividends.

According to the local media, SIF Transilvania shareholders have approved a gross dividend of RON 0.0125/share (payout of 49.8% out of FY'14 net profit), DIVY of 4.64% based on last closing price. Currently, the O&E GSM resolutions have not yet been published. (Source: Bursa) >> mai mult >>

aprilie 30, 2015

SIF BANAT CRISANA (SIF1 RO): O&E GSM resolutions, meeting held on April 29, 2015.

Shareholders have approved a gross dividend of RON 0.1/share (payout of 40% out of FY'14 net profit), following two years of no dividend payment. DIVY stands at 6.7% based on last closing price. Registration date is 14 August 2015, ex-date is 13 August 2015. (Source: SIF Transilvania) >> mai mult >>

aprilie 29, 2015

The Financial Surveillance Authority remains confident on new listings potential ahead.

According to Misu Negritoiu, the president of the Financial Surveillance Authority, around 15 companies targeted to get listed on the stock exchange could provide an additional EUR 1bn to the state Treasury, should the listing process advance as desired. Among the stated candidates, Hidroelectrica, [...] >> mai mult >>

aprilie 29, 2015

Bursa de Valori Bucuresti (BVB RO): O&E GSM resolutions, meeting held on April 28, 2015.

Shareholders have approved a gross dividend/share of RON 1.4579 (payout of 94% of FY'14 net profit), DIVY @ 3.8% based on last closing price. Ex-date 4th of June 2015. Registration date is 5th of June 2015. (Source: BVB) >> mai mult >>

aprilie 29, 2015

ELECTRICA (EL RO): O&E GSM resolutions, meeting held on April 27, 2015.

The shareholders did not approve FY'15 consolidated CAPEX plan, agreed upon FY'15 budget. Shareholders have also rejected the annual financial statements of Servicii Energetice Muntenia for FY'14. A gross dividend of RON 0.7217/share has been approved, DIVY @ 6% based on last closing price. Ex-date [...] >> mai mult >>

aprilie 29, 2015

TRANSELECTRICA (TEL RO): Transelectrica intends to purchase credit rating services worth RON 403,868 excl. VAT.

Transelectrica will pay RON 403,868 excl. VAT for credit rating services - in order to achieve the object of the contract, the consultant is required to develop and deliver an initial report which evaluates its private point in time rating, and an updated report through which the initial rating gets [...] >> mai mult >>

aprilie 27, 2015

Japan Credit Rating Agency (JCRA) has improved Romania’s rating perspective from stable to positive.

The Japan Credit Rating Agency has improved the rating perspective of Romania from stable to positive while rating foreign & local LT debt at BBB-/BBB. The decision to improve the rating outlook from stable to positive reflects government efforts on reducing the budget deficit and the current [...] >> mai mult >>

aprilie 21, 2015

FONDUL PROPRIETATEA (FP RO): Significant progress undertaken related to the admission to trading of the Fund on the Specialist Fund Market of the London Stock Exchange (LSE) through global depositary receipts – GDRs.

The Fund has appointed The Bank of New York Mellon to act as depository bank in relation to the GDR facility, while the admission to trading of the GDRs on the LSE is expected to take place on /or around 29 April 2015. The GDR facility will be limited to one-third of the Company's issued share [...] >> mai mult >>

aprilie 28, 2015

OMV PETROM (SNP RO): Petrom could receive back EUR 90m from the EUR 600m investment in Brazi powerplant.

According to a report of Ministry of Energy regarding the implementation of the National Investment Plan, Petrom could recoup approximately 15% of the EUR 600m initial investment in Brazi powerplant. The power plant started operations in 2012 and is currently shortlisted among eligible projects for [...] >> mai mult >>

aprilie 28, 2015

OMV PETROM, ROMGAZ (SNP RO, SNG RO): The National Agency for Mineral Resources (NAMR) to put up for concession 20 to 36 oil blocks after five years from last call.

According to NAMR officials, the fields will be both off-shore and on-shore, with the data showing that the minimum number of fields to be put up for concession, could be around 20 with a maximum of 36 blocks. The latest round of tenders was carried out in 2010 when it was auctioned a number of 30 [...] >> mai mult >>

aprilie 28, 2015

FONDUL PROPRIETATEA (FP RO): During 20-24 April 2015, Fondul has bought-back 11.57m shares worth RON 10.55m.

Since the start of the buy-back program, the Fund has repurchased approximately 90.62m shares for a total worth of RON 78.97m. The number of shares remaining to be reacquired stands at 136.95m. (Source: Fondul Proprietatea disclosure) >> mai mult >>

aprilie 28, 2015

FONDUL PROPRIETATEA (FP RO): Extraordinary & Ordinary General Meeting of Shareholders' resolutions, meeting held on April 27, 2015.

Shareholders have approved the sixth buy-back program (10%) and the cancellation of the shares purchased under the fourth buy-back program. The new buy-back shall be performed at a price that cannot be lower than RON 0.2/share or higher that RON 2/share. Registration date is 20 May 2015 while the [...] >> mai mult >>

aprilie 27, 2015

BVB will launch the web-based trading platform ARENA-XT.

Bucharest Stock Exchange (BVB) will launch on April 30, 2015 its web-based version of the Arena-XT trading platform. This is one of BVB's solutions to keep up the retail investors connected with changes in BVB infrastructure, by using BVB's Direct Market Access and online trading platform. Investors [...] >> mai mult >>

aprilie 23, 2015

OMV Q1’15 Trading Statement: Q1’15 OMV Petrom Group upstream hydrocarbon production increased by 1% Y/Y to 184kboe/day.

OMV group hydrocarbon production decreased 5% QoQ to 303 kboe/day, mainly as a result of technical issues leading to an approximate one-month shut-in at the Gudrun field in Norway, and the production shut-in in Libya. Instead, OMV Petrom hydrocarbon production increased by 1% to 184 kboe/day vs. [...] >> mai mult >>

aprilie 24, 2015

The Ministry of Public Finance borrowed RON 400m, at an average yield of 2.33%.

The Ministry of Public Finance borrowed RON 400m following the reopening of a 5Y issue, at an average yield of 2.33% - the total banks demand stood at RON 981.23m. (Source: Economica.net) >> mai mult >>

aprilie 23, 2015

ARGUS Constanta (UARG RO): FY’15 revenues set to RON 223m (+27% Y/Y).

Argus Constanta, elidible oil producer, has budgeted FY'15 gross profit of RON 4.45m, with revenues set to increase to RON 223m. FY'15 CAPEX should reach RON 1.5m. (Source: Ziarul Financiar) >> mai mult >>

aprilie 23, 2015

TRANSGAZ (TGN RO): Romania, Bulgaria and Greece to build a natural gas corridor.

According to the Bulgarian press cited by local media, Romania, Bulgaria and Greece will build a natural gas corridor able to interconnect the natural gas grids between Romania, Bulgaria and Greece - the total capacity should stand around 3-5bn cm/year. In 2014, the three states have agreed to build [...] >> mai mult >>

aprilie 23, 2015

OMV PETROM (SNP RO): OMV Petrom intends to refinance EUR 930m loan initially contracted in 2011.

According to company officials, following the recent evolution on the financial markets, OMV Petrom intends to refinance EUR 930m multicurrency loan contracted back in November 2011, with a stated maturity of three years and with a two extension possibility. The loan was undertaken in order to [...] >> mai mult >>

aprilie 22, 2015

The European Commission greenlights EUR 38m financial aid for backing the cash-flow of CE Hunedoara.

The European Commission has approved a temporary financial aid worth RON 167m (EUR 37.7m) for backing the cash-flow of CE Hunedoara, currently owned by the Ministry of Energy. According to the European Commission, the aid was limited to the amount necessary to enable the CE Hunedoara to pursue its [...] >> mai mult >>

aprilie 22, 2015

As of February 2015, Romania registers highest MoM increase in construction works, according to Eurostat.

Romania recorded the highest MoM advance in construction works in February 2015, according to Eurostat. In February 2015 construction works recorded a 1.2% MoM decline in the EU and 1.8% MoM in the Eurozone. Compared to February 2014, construction works decreased by 2.4% in the EU and by 3.7% in the [...] >> mai mult >>

aprilie 22, 2015

Euro area and EU28 government deficit at 2.4% and 2.9% of GDP respectively. Government debt stood at 91.9% and 86.8%.

In the euro area the government deficit to GDP ratio decreased from 2.9% in 2013 to 2.4% in 2014, and in the EU28 from 3.2% to 2.9%. In the euro area the government debt to GDP ratio increased from 90.9% at the end of 2013 to 91.9% at the end of 2014, and in the EU28 from 85.5% to 86.8%. In 2014, [...] >> mai mult >>

aprilie 22, 2015

ALBALACT (ALBZ RO): Albalact budgeted FY’15 sales worth RON 508m (+7% Y/Y).

Following FY'14 investments worth EUR 8m in modernization and production capacity upgrade, for FY'15 Albalact has budgeted sales worth RON 508m (+7% Y/Y). Budgeted sales growth figure stands below the 12% Y/Y increase achieved in FY'14. As for FY'15 Capex program, the management remains set to [...] >> mai mult >>

aprilie 21, 2015

ELECTRICA Bucuresti (EL RO): Electrica subsidiaries budgeted FY’15 cumulated net profit of RON 464.8m (-14% Y/Y).

According to the budgeted figures for FY'15, Electrica subsidiaries should realize a cumulated net profit of RON 464.8m (-14% Y/Y), while keeping similar Y/Y payout of 85%, dividends to be distributed in FY'16 for activity run in FY'15 should stand at a cumulated RON 388.6m (-12% Y/Y). The largest [...] >> mai mult >>

aprilie 21, 2015

HIDROELECTRICA – Q1’15 gross profit doubled to RON 405m.

Hidroelectrica has announced Q1'15 gross profit of RON 405m, more than double Y/Y, performance that is due to the elevated level of electrical energy produced - 4.7 TWh (+37% Y/Y) and adequate management of company resources. Q1'15 sales also posted a significant increase Y/Y up to RON 944m vs. RON [...] >> mai mult >>

aprilie 21, 2015

Ministry of Public Finance has borrowed RON 200m in benchmark bonds following the reopening of a 10y issue; avg. yield stood at 2.7%.

The total banks' demand stood at RON 447.85m, 2.24x above the nominal value of the auction, while the maturity of the issue was set in June 2021. In April, the state has planned to borrow RON 2.72bn out of which RON 2.5bn in treasury certificates and state bonds and RON 225m through supplementary [...] >> mai mult >>

aprilie 21, 2015

National Bank Governor on EURO adoption: The target of 1st January 2019 should be thoroughly reconsidered.

Based on latest statements of the National Bank Governor, Mugur Isarescu, with respect to the deadline set for EURO adoption (1st January 2019) looks like being very ambitious, while Romania should thoroughly reconsider the next steps that are to be taken in this regard. Albeit Romania fulfills all [...] >> mai mult >>

aprilie 21, 2015

BANCA TRANSILVANIA (TLV RO): During 14 - 17 April 2015, the bank has bought – back 0.55m shares at avg. price of RON 2.46 for a total worth of RON 1.353m. (Source: Banca Transilvania disclosure)

aprilie 20, 2015

TRANSELECTRICA Bucuresti (TEL RO): Transelectrica announced that has appealed against the share capital increase of its SMART subsidiary.

Transelectrica has announced that has appealed against the share capital increase of its SMART subsidiary, due to the fact that the in kind share capital increase was undertaken only based on the decision of the Board of Directors of the subsidiary and not based on a decision of the General [...] >> mai mult >>

aprilie 17, 2015

FONDUL PROPRIETATEA (FP RO): The Fund should collect dividends worth RON 542m

Fondul Proprietatea should collect RON 542m in dividends, out of which some RON192m from Hidroelectrica, where the Fund keeps a 20% stake. Dividends from SNP should stay at around RON 120.5m. (Source: Ziarul Financiar) >> mai mult >>

aprilie 16, 2015

The IMF sees Romanian economy up 2.7% this year

According to the World Economic Outlook report, IMF has upwardly revised the economic growth perspectives of the Romanian economy, from a previous 2.4% to a current 2.7%. At the same time, for FY'16, GDP growth is seen at 2.9%. The IMF argues that on a regional level, the economic activity has [...] >> mai mult >>

aprilie 16, 2015

ROPHARMA Brasov (RPH RO): FY’15 CAPEX at RON 8.53m

Ropharma Brasov FY'15 CAPEX budget stands at RON 8.53m (EUR 1.93m) and it is aimed mainly at expanding its network, in its car park as well as improving its building facilities. (Source: Bursa.ro) >> mai mult >>

aprilie 16, 2015

CONPET PLOIESTI (COTE RO): Completion of convening notice of Ordinary General Meeting of Shareholders on April 28(29), 2015, record date, ex-date Reference date: April 17, 2015

Conpet Ploiesti, local transporter of crude oil and rich gas, proposed distributing a gross dividend of RON 5.9409792/share, implying a DIVY of 11.19% considering last market price. Based on FY'14 preliminary reported results (IFRS) the dividend payout stands higher than 90%, keeping similar trend [...] >> mai mult >>

aprilie 16, 2015

SIF MUNTENIA (SIF4 RO): Q1’15 NAV share at RON 1.2689 (-2.77% MoM, +2.93% Y/Y), discount to NAV of 32% based on last closing price

Q1'15 net profit is down some 84% Y/Y to RON 17.37m vs. RON 106.53m as of March 2014. (Source: BSE) >> mai mult >>

aprilie 16, 2015

SIF MOLDOVA (SIF2 RO): Q1’15 net profit of RON 1.25m, much lower compared to RON 135.84m posted as of Q1’14

SIF MOLDOVA (SIF2 RO): Q1'15 net profit of RON 1.25m, much lower compared to RON 135.84m posted as of Q1'14. >> mai mult >>

aprilie 16, 2015

SIF BANAT CRISANA (SIF1 RO): Q1’15 net profit of RON 18.51m, 2.92x lower Y/Y

Q1'15 NAV (+6.41% Y/Y, -1.2% MoM) of RON 1.66bn; based on last capitalization the discount to NAV stands at approximately 52%. (Source: Bursa.ro) >> mai mult >>

aprilie 16, 2015

SIF TRANSILVANIA (SIF3 RO): SIF Transilvania would exit from Bucuresti Turism (BUTU) for a price of RON 20.17/share (+68.08% of last closing price) and would receive for its stake of 11.2867% around RON 32.69m

The exit comes following the decision of the shareholders to delist BUTU. (Source: BSE) >> mai mult >>

aprilie 16, 2015

SIF MOLDOVA (SIF2 RO): SIF Moldova withdraws from the shareholder structure of the former Ceramica Iasi

SIF Moldova has filled a request to withdraw from the shareholder structure of Brikston Construction Solutions" Iaşi (former Ceramica Iasi) provided that the shareholder has not fulfilled its obligation to conduct a tender offer and the deadline for withdrawal of shareholders (in the context of [...] >> mai mult >>

aprilie 16, 2015

TRANSGAZ Medias (TGN RO): Gazprom mulls cutting off transit through Ukraine after FY’19

According to local media, Gazprom announced that it intends to stop the gas transit agreement with Ukraine after 2019. Currently, Transgaz has three transit contracts which secure approximately 40% of the transit revenues. FY'14 data shows transit revenues amounted to RON 274m or some approximately [...] >> mai mult >>

aprilie 16, 2015

FONDUL PROPRIETATEA (FP RO): The Fund has bought back 5.6mn shares during April 6-10 following fifth buy-back program

During April 6-10, Fondul bought back 5.6mn shares, at an average price of RON 0.858 share; out of the total 227.6m shares, since the beginning of the fifth buy-back program, Fondul bought 70.3m. US Fund Elliot Associates, the largest shareholder of the Fund, has exceeded 20% of the total voting [...] >> mai mult >>

aprilie 16, 2015

FONDUL PROPRIETATEA (FP RO): Q1’15 losses of RON 668.68m, up 8.46x Y/Y

At the end of Q1'15, Fondul Proprietatea posted losses of RON 668.68m, up 8.46x Y/Y, mostly stemming from the reevaluation (according to IFRS) of its listed shares portfolio. NAV declined by 11.58% Y/Y to RON 12.6bn; NAV per share at RON 1.1706, down 0.7% MoM. As of end-Q1'15 - the Fund's holdings [...] >> mai mult >>

aprilie 14, 2015

S&P reaffirmed Romania credit rating (FCY long term) at BBB-/A-3, stable,on the back of economic growth solid perspectives expected, which might partially compensate the impact of Gvnmt recently announced indirect tax reduction. (Source: Ziarul Financiar)

aprilie 14, 2015

February 2015 trade deficit data:

In February 2015 exports increased slightly by 1.2% Y/Y reaching EUR 4.39bn, while imports added 2.6% Y/Y to EUR 4.77bn, which led to a deficit of EUR 384m (+68.8m Y/Y). In the first two months of the year, Romania exported EUR 8.57bn (+3.6% Y/Y), while imports stood at EUR 9.13bn (+3.3% Y/Y); over [...] >> mai mult >>

aprilie 14, 2015

March 2015 inflation data:

In March 2015, consumer prices climbed by 0.4% compared to February 2015. In March 2015, consumer prices climbed by 0.4% vs. February 2015, while the annualized inflation rate reached 0.8%, mainly as a result of cheaper food products (down 1%) while non-food product prices gained 1.2%, while [...] >> mai mult >>

aprilie 14, 2015

SIF Oltenia (SIF5 RO): March 2015 NAV data:

SIF Oltenia reported March 2015 NAV/share of RON 2.6346 (+0.6% Y/Y, -1% YTD) while net profit stood at RON 5.7m (-18% Y/Y, -10% YTD). (Source: SIF Oltenia) >> mai mult >>

aprilie 14, 2015

TRANSGAZ Medias (TGN RO): EC investigates Transgaz for lack of transparency in reporting data for natural gas transit from Russia at the border with Ukraine and Bulgaria.

The pipeline in question is Trans-Balkan, which transports natural gas from Russia to Ukraine, Moldova, Romania, Bulgaria, and Turkey. Company representatives deemed the issue to the confidentiality agreement of the contracts with Russian company Gazprom. (Source: Romania-Insider.com) >> mai mult >>

aprilie 10, 2015

TRANSGAZ Medias (TGN RO): FY’15 budget approved by the government

FY'15 net profit is estimated to drop by 26% Y/Y to RON 371m (vs. our last estimate of RON373m), with a payout ratio kept at 51%; EBIT is expected at RON 438m (-26% Y/Y), slightly lower compared to our estimate of RON 455m. For FY'15 the company's CAPEX should stay around RON 631m compared to our [...] >> mai mult >>

aprilie 10, 2015

SIF Moldova (SIF2 RO): SIF Moldova will pay RON 42/share in order to delist Tesatoriile Reunite (TERU).

SIF Moldova has a stake of 97.16% in Tesatoriile Reunite (TERU) and consequently must run a squeeze out procedure. (Source: Bursa.ro) >> mai mult >>

aprilie 10, 2015

Romania sells RON 300m (EUR 68m) in 7y bonds with average yields falling to 2.36%, record low for the maturity.(Source: Zf English)

aprilie 9, 2015

Financial Supervisory Authority (FSA) approves regulation regarding local companies’ secondary listing through depositary interest titles.

The news was expected following Fondul Proprietatea intention of getting listed on the LSE. (Source: Bursa.ro) >> mai mult >>

aprilie 9, 2015

The Romanian State sees Telekom Romania rather listed on the stock exchange instead of strategic sale.

According to recent statements of Sorin Grindeanu, Ministry of Communications and Informational Society, the Romanian state would rather sell its stake in Telekom Romania (former Romtelecom SA) through an IPO on the local stock exchange instead of running a strategic sale. The lather stems in the [...] >> mai mult >>

aprilie 9, 2015

VAE APCAROM (APC RO): Austrian Voestalpine pays EUR 840k to delist its Romanian subsididary VAE Apcarom.

The Group has initiated the squeeze-out procedure (i.e purchasing the company's minority stake for an amount worth EUR 840k). The company produces railway systems and has more than 200 employees. FY'14 data reveals a turnover of EUR 27.7m and a net profit of EUR 2.6m. (Source: Romania-insider.ro) [...] >> mai mult >>

aprilie 9, 2015

AEROPORTURI BUCURESTI (CNAB RO): FY’15 net profit estimated at RON 44m (-58% Y/Y).

The Bucharest National Airport Company, which manages Bucharest's two airports, Henri Coanda (Otopeni) and Aurel Vlaicu (Baneasa), has budgeted for 2015 a net profit of RON 44m, down 58% Y/Y but is set to increase personnel to support business operations. (Source: ZfEnglish) >> mai mult >>

aprilie 9, 2015

Romania’s Prime Minister vows saving CE Oltenia and Hunedoara in spite of IMF and European Commission asking for shut-down.

At the same time the Gvnmt will continue running all necessary measures, both required and allowed by the European bodies, in order to keep the two coal-based energy producers afloat. (Source: Bizenergy.ro) >> mai mult >>

aprilie 8, 2015

BANCA TRANSILVANIA (TLV RO): announces completion of Volksbank Romania takeover, in a deal valued at more than EUR 710 m, o/w EUR 630m for reimbursement of some credit facilities

aprilie 8, 2015

Romanian regional investment fund SIF Banat-Crisana completed the acquisition of SAI Muntenia Invest, the administrator of regional investment fund SIF Muntenia

aprilie 7, 2015

Romanian Government cuts VAT on food to 9% starting June 1st

Romania's Government will cut the value-added tax (VAT) for all food items from 24% to 9%, starting June 1, 2015, Prime Minister Victor Ponta announced on Tuesday, April 7. Ponta said that the reduced VAT will apply to all food products, as well as on non-alcoholic beverages and catering services. [...] >> mai mult >>

aprilie 7, 2015

INS revises slightly down Romania’s 2014 GDP growth to 2.8% from 2.9%

Romania's statistics institute revised slightly down the economic growth estimate for 2014, despite envisioning a higher increase in Q4 2014 vs Q4 2013 to 2.7% gross and 2.6% adjusted for seasonality. (Source: zfenglish.com, Ieba Trust) >> mai mult >>

aprilie 7, 2015

Romania's industrial sectors gets fewer orders in February

Romania's industrial sector received fewer orders in February, down 7.1% vs February 2014 and down 3.9% vs January 2015, but up 1.4% in the first two months of 2015 vs the same period of 2014, data released by the country's statistics institute INS showed Tuesday. (Source: Ieba Trust, zfenglish.com) [...] >> mai mult >>

aprilie 7, 2015

INS: Romania February industrial sales up 2.3% vs January

Romanian industrial sales rose 2.3% in February compared with the previous month, but were down against the same period of 2014, data released by the statistics institute INS showed Tuesday. (Source: zfenglish.com) >> mai mult >>

aprilie 7, 2015

Nuclearelectrica (SNN RO) shuts down reactor for repair works

Romanian nuclear power company Nuclearelectrica (SNN RO) shut down one of the reactors of nuclear power plant in Cernavoda Monday evening for repair works at an auxiliary system related to the classical part of the power plant, the company said in a statement Tuesday. (Source: zfenglish.com) >> mai mult >>

aprilie 7, 2015

OMV Petrom (SNP RO) sees 40% lower profit in 2015, shaves 12% off investment budget

OMV Petrom (SNP RO) sees 40% lower profit in 2015, shaves 12% off investment budget. OMV Petrom (SNP RO) is preparing to endure a whole year of low oil prices and has budgeted 1.1b lei (EUR 249m) in net profit for 2015, 40% lower than in 2014, which in turn was down 60% the record profit of 2013. [...] >> mai mult >>

aprilie 7, 2015

Biofarm (BIO RO) mulls buying a competitor

Biofarm (BIO RO) mulls buying a competitor. The company will put for shareholder approval RON 14m investment to buy an unnamed competitor to raise market share. Among small competitors in the SIFs portfolios we can find Sintofarm Bucuresti (SINT RO). (Source: ZF.ro) >> mai mult >>

aprilie 7, 2015

Hidroelectrica wants to pay 80% of 2014 record profit as dividends

Hidroelectrica wants to pay 80% of 2014 record profit as dividends. The judicial administrator of insolvent Hidroelectrica, Romania's biggest power producer, will propose to the company's creditors and shareholders the disbursement of dividends accounting for 80% of the record high RON 1.2b profit [...] >> mai mult >>

aprilie 7, 2015

NSI: Net average wage down slightly to RON 1.731 in February

NSI: Net average wage down slightly to RON 1.731 in February. The gross monthly average wage was 2.395 lei this February, 0.5% less than in January 2015, while the net average monthly wage was 1.731 lei, by 9 lei or 0.5% less than in the month before, shows data released on Monday by the NSI. [...] >> mai mult >>

aprilie 7, 2015

Local currency winning lending battle with the EUR and CHF

Local currency winning lending battle with the EUR and CHF: in the last 7 years the percent of local currency loans tripled to 24.3% while EUR currency loans dropped from a peak of 84.4% in 2013 to 67.5% and CHF loans halved to 7.9%. (Source: zf.ro) >> mai mult >>

aprilie 3, 2015

Electrica (EL RO) ceases negotiations with Proprietatea Fund (FP RO) over acquisition of minority stakes in its units

Romanian state-run power distributor Electrica (EL RO) on Thursday said negotiations with investment fund Fondul Proprietatea (FP RO) for the acquisition of the fund's minority stakes in several Electrica subsidiaries failed, as the companies have reached no agreement on the price. (Source: [...] >> mai mult >>

aprilie 3, 2015

SIF Moldova (SIF2 RO) shareholders ok proposed cash dividend and stock dividend from 2014 profit

Shareholders of Romanian regional investment fund SIF Moldova (SIF2 RO) on Thursday approved the management's proposal on the payment of RON 52.5m as dividends from last year's profit, RON 0.1012 gross DPS, approved the 1:1 stock dividend and voted the budget for 2015. (Source: Ieba Trust, [...] >> mai mult >>

aprilie 3, 2015

BCR getting ready to sell up to EUR 1.5b worth of NPLs in one go

BCR, the largest bank in Romania, is getting ready to sell non-performing loans of EUR 1b to EUR 1.5b, the highest amount so far, a move that is bound to draw a lot of attention. (Source: ZFEnglish.com) >> mai mult >>

aprilie 2, 2015

Romania's forex reserves rose slightly in March to EUR 30.6b

Romanian foreign exchange reserves rose by EUR 117m to EUR 30.6b in March, from EUR 30.48b in the previous month, central bank data showed Wednesday. (Source: ZFEnglish.com) >> mai mult >>

aprilie 2, 2015

Electromagnetica (ELMA RO) exported 23% of output in 2014, plans higher exports this year

Romanian electric and electronic equipment maker Electromagnetica Bucuresti (ELMA RO) exported last year products totaling RON 20m (EUR 4.5m), accounting for 23% of its output, and plans higher exports of LED lighting fixture this year, the company said Wednesday. (Source: ZFEnglish.com) >> mai mult >>

aprilie 2, 2015

Romania plans to sell RON 2.7b treasuries in April

Romania's Finance Ministry wants to sell government paper worth RON 2.725b (EUR 617m) in April, down from RON 3.3b in the previous month and the lowest issuance plan in more than a year. (Source: ZFEnglish.com) >> mai mult >>

aprilie 2, 2015

Four foreign investors own over 1 million square meters of malls and offices in Romania

NEPI (NEP RO), Immofinanz, AFI Europe and Globalworth are now the four biggest foreign investors on Romania's real estate market, with the four groups having assets worth EUR 3.3b in their portfolio, according to a ZF analysis. The market share on shopping centers and offices stands at 20%. (Source: [...] >> mai mult >>

aprilie 2, 2015

Cris Tim sales up 24% in Q1 on black market contraction

Cris Tim, one of the largest producers in the Romanian food industry, reported 24% higher sales in the first quarter, double compared with estimations, due to the contracting of the black market following the actions of tax authority ANAF in the last three months, president Radu Timis stated. [...] >> mai mult >>

aprilie 1, 2015

Romania’s central bank on Tuesday lowered its main monetary policy rate by 25 basis points to a new record low of 2%

Romania’s central bank on Tuesday lowered its main monetary policy rate by 25 basis points to a new record low of 2%, in a largely expected move, the sixth rate cut in the current reduction cycle started in August 2014. Romania’s banking system has enough liquidity but unevenly [...] >> mai mult >>

aprilie 1, 2015

China-CEE Investment Cooperation, whose main shareholder is China's Exim Bank of China, sees investment opportunities in various sectors in Romania

China-CEE Investment Cooperation, whose main shareholder is China's Exim Bank of China, sees investment opportunities in various sectors in Romania and is currently discussing projects in telecom and energy, that could materialize later this year. (Source: ZF English) [...] >> mai mult >>

aprilie 1, 2015

State-run oil transporter Conpet Ploiesti (COTE RO) will pay 255.1 million lei (some EUR58 million) to state-owned railway freight carrier CFR Marfa

State-run oil transporter Conpet Ploiesti (COTE RO) will pay 255.1 million lei (some EUR58 million) to state-owned railway freight carrier CFR Marfa, in the next four years, for the transport of oil and oil products. (Source: ZF English) [...] >> mai mult >>

aprilie 1, 2015

Romania's unemployment rate was down to 6.4% in February, from 6.5% in the previous month

Romania's unemployment rate was down to 6.4% in February, from 6.5% in the previous month, seasonally adjusted data from the statistics institute INS showed Tuesday. (Source: ZF English) [...] >> mai mult >>

aprilie 1, 2015

Romania’s exports of agrifood products to Arab countries rose over 70% in the past years

Romania’s exports of agrifood products to Arab countries rose over 70% in the past years, as the country has been trying to tap new markets, Agriculture Minister Daniel Constantin said Tuesday at the MEDIAFAX Talks about Agriculture conference. (Source: ZF English)   [...] >> mai mult >>

aprilie 1, 2015

U.S. pharmaceutical company Mylan, which was not directly present in Romania, gained the 20th position in the local pharma players’ ranking

U.S. pharmaceutical company Mylan, which was not directly present in Romania, gained the 20th position in the local pharma players’ ranking after the acquisition of Abbott drug division outside the U.S., whose sales in Romania amount to almost RON180 million (EUR41 million). (Source: ZF [...] >> mai mult >>

martie 31, 2015

Analysts expect new rate cut from Romania’s Central Bank

Romania’s central bank is likely to lower its main monetary policy rate by 25 basis points to a record low of 2% in its Tuesday board meeting, the last rate cut in the current cycle, according to a survey among financial and banking analysts. (Source: ZFEnglish.com) [...] >> mai mult >>

martie 31, 2015

Romania posts EUR 339m surplus in Q1

Romania had a surplus of RON 1.5b (EUR 339m) in Q1, even if the budget estimated a RON 6b (EUR 1.35b) deficit for this period, said Prime Minister Victor Ponta. He added the Government has the possibility to reduce the VAT from 24% to 20% or cut the VAT for basic food items starting June. Ponta [...] >> mai mult >>

martie 31, 2015

Auto sales rising

In February new car sales grew by almost 21% YoY, to 6.281 units according to Driver Licenses and Vehicle Registration Directorate (DRPCIV) data. Of the total new car sales, auto vehicles registered in February a 12.77% YoY growth to 4.116 units. (Source: nineoclock.ro) [...] >> mai mult >>

martie 30, 2015

Analysts expect new rate cut from Romania’s Central Bank

Romania's central bank is likely to lower its main monetary policy rate by 25 basis points to a record low of 2% in its Tuesday board meeting, the last rate cut in the current cycle, according to a survey among financial and banking analysts. (Source: ZFEnglish.com) >> mai mult >>

martie 30, 2015

INS: Romanian executives see economic rebound in spring season

Romanian managers predict activity in all economic sectors will grow over the March-May period compared with the previous three months, the statistics institute INS said in a survey released Monday. (Source: ZFEnglish.com) >> mai mult >>

martie 30, 2015

OMV replaces CEO: Rainer Seele to head Austria’s OMV, majority shareholder of Romania’s OMV Petrom (SNP RO)

The current CEO, Gerhard Roiss will resign in June, 2 years earlier than anticipated, on weak financial results. Rainer Seele is the chairman of German oil&gas company Wintershall. (Source: wall-street.ro) >> mai mult >>

martie 30, 2015

Government determined to lower VAT, IMF recommends caution

Romania does not have room to lower taxes until it improves tax collection and revenue management, according to the report approved by the IMF Board after consultations with the Romanian authorities, a report that points out that imbalances have been reduced but reforms have slowed down against the [...] >> mai mult >>

martie 30, 2015

Romania still holds oil reserves of above USD 200B

Romania's underground still conceals over $200 billion worth of oil, even after 150 years of production, but increased competition, through the emergence of several small players, is needed to take the resources to the surface, maintained Radu Mircescu, general manager and the main stakeholder in [...] >> mai mult >>

martie 27, 2015

Electrica (EL RO) proposes RON 0.7217 per share gross dividend, DY 5.87%

Electrica (EL RO) proposes RON 0.7217 per share gross dividend, DY 5.87% to the latest closing price. Proposed registration date: July 10. Dividend payments will start July 15. GSM date: April 27. (Source: the company) >> mai mult >>

martie 27, 2015

Nuclearelectrica (SNN RO) announced proposed gross DPS of 0.3 RON, 3.98% DY, lower than our estimates

Nuclearelectrica (SNN RO) announced proposed gross DPS of 0.3 RON, 3.98% DY, lower than our estimates. June 23rd registration date. April 29th GSM date. (Source: the company) >> mai mult >>

martie 27, 2015

Antibiotice (ATB RO) announced proposed gross DPS of 0.02345571 RON, 4.04% DY, in line with Ieba's estimates

Antibiotice (ATB RO) announced proposed gross DPS of 0.02345571 RON, 4.04% DY, in line with Ieba's estimates based on last year's payout rate. September 15th registration date. April 29th GSM date. (Source: the company) >> mai mult >>

martie 27, 2015

Bucharest City Hall giant bonds to be put up for sale in one month

Preparations for the biggest leu-denominated bond offering on the local capital market have entered the finishing straight: the prospectus is almost ready and subscriptions are likely to start in one month, according to sources close to the transaction. 2.2b RON (EUR 500m) worth of bonds will be [...] >> mai mult >>

martie 26, 2015

SIF Transilvania (SIF3 RO) announced proposed gross DPS of RON 0.024, 8.8% DY and two share buyback programs

SIF Transilvania (SIF3 RO) announced proposed gross DPS of RON 0.024 8.8% DY, payout rate of 95.54% and two share buyback programs totaling 6% of share capital, the first for a maximum of 5% of share capital up to a maximum price of 0.55 RON and a similar second buyback program for a maximum of 1% [...] >> mai mult >>

martie 26, 2015

Conpet (COTE RO) announced proposed gross DPS of 5.94 RON, 9.66% DY

Conpet (COTE RO) announced proposed gross DPS of 5.94 RON, 9.66% DY. July 21st registration date. (Source: the company) >> mai mult >>

martie 26, 2015

Zentiva (SCD RO) announced 10.17% gross DY

Zentiva (SCD RO) announced proposed gross DPS of 0,13009 RON from 2014 profits and 0,03779 RON from reserves, for a total DPS of 0,16788 RON, DY 10,17%. June 19th registration date. (Source: the company) >> mai mult >>

martie 26, 2015

Transelectrica (TEL RO) approved gross DPS of 2.8033, 9.5% DY

Transelectrica (TEL RO) approved gross DPS of 2.8033, 9.5% DY, 2014 payout ratio of 75% and announced a reduced dividend payout ratio of 50% for 2015. (Source: the company) >> mai mult >>

martie 26, 2015

Romania’s most powerful CEO gets new term after almost 10 years at the helm of Petrom

Mariana Gheorghe, Romania's most powerful executive, will remain at the helm of Petrom until 2019, after she got another four-year term, the third one after she was appointed in this position in 2006. (Source: ZFEnglish.com) >> mai mult >>

martie 26, 2015

Chinese private equity fund starts looking for opportunities in Romania

China-CEE Investment Cooperation Fund, a private equity fund that has USD 500 million for investments in Central and Eastern Europe, will officially launch its operations in Romania next week. The fund's representatives will then announce their plans for the Romanian market. The fund is supported by [...] >> mai mult >>

martie 25, 2015

OMV Petrom (SNP RO) to cut dividends on lower profits - RON 0.0112 gross DPS, 3% DY

OMV Petrom, the largest Romanian company listed on the Bucharest Stock Exchange, proposed to cut dividends by 63% compared to last year, as the group's net consolidated profit declined by 56% in 2014 compared to 2013. OMV Petrom proposes a gross dividend of RON 0.0112 per share and a DY of only 3% [...] >> mai mult >>

martie 25, 2015

Transelectrica (TEL RO) sees 2015 profit down 62.5% to RON 138.7m

Romanian state-owned power grid operator Transelectrica (TEL.RO) estimates a net profit of RON 138.7m (EUR 32m) this year, down 62.5% from the record profit of RON 370m posted in 2014, due to lower revenue and higher expenses, the company said in a statement. (Source: ZFenglish.com) >> mai mult >>

martie 25, 2015

March wheat yield forecast highest in seven years

Romanian wheat yield is estimated at 3.26 tons/hectare in March, 10% higher than forecast in the same time last year, according to the first European Commission 2015 estimate recently published. (Source: ZFenglish.com) >> mai mult >>

martie 25, 2015

Construction market dropped below EUR 9b in 2014, lowest since crisis

The Romanian construction market declined 4% last year, to EUR 8.9b, the lowest level since the start of the crisis, the Romanian Association of Construction Companies (ARACO) said Tuesday. (Source: ZFenglish.com) >> mai mult >>

martie 25, 2015

Retailers in Bucharest malls have sales of EUR 2,320/Sqm/Year, double than other cities

The turnover of shopping malls in Bucharest stands at EUR 2,320 per square meter a year, double compared to that of malls outside Bucharest, and the difference in rent prices is proportional, according to a CBRE study. (Source: ZFenglish.com) >> mai mult >>

martie 24, 2015

Bucharest Stock Exchange (BVB RO) proposes RON 11.2M dividend, up 24% YoY, 3.94% dividend yield

The Bucharest Stock Exchange (BVB RO) has proposed dividends totaling RON 11.18m (EUR 2.52m) of its 2014 profit, 24% higher than the previous year, when the stock market operator distributed little over RON 9m. (Source: ZFenglish.com) >> mai mult >>

martie 24, 2015

Romanian gas transporter Transgaz (TGN RO) pays an 8% dividend yield

Romanian gas transporter Transgaz Medias (TGN RO) will distribute over half of its net profit to shareholders. The dividend yield is close to 8%.Transgaz Medias will pay dividends worth a total RON 257m (EUR 58m) representing 51% of the net profit it made last year, the company announced today. The [...] >> mai mult >>

martie 24, 2015

Albalact (ALBZ RO) proposes 7.02% dividend yield

The company announced it plans to pay RON 0.0185 per share dividend. Proposed registration date: July the 31st. (Source: the company, Ieba Trust) >> mai mult >>

martie 24, 2015

Banks, IT And Oil&Gas companies benefited most from social contributions cut - survey

Companies where salaries are high and very high (banking, IT, finance, oil & gas) reaped the benefits of a 5% cut in employer social security contributions, while for smaller companies, the effect were countered by the growth of the minimum wage, according to a survey by Accace. (Source: [...] >> mai mult >>

martie 24, 2015

Dedeman targets 8% revenue growth to EUR 830m in 2015

Dedeman, the biggest Romanian-held do-it-yourself retailer, reported revenue of EUR 767m in 2014, up 26% on the year, and Dragos Paval, the company's president and majority stakeholder, expects the company to soon touch the EUR 1b mark. (Source: ZFenglish.com) >> mai mult >>

martie 23, 2015

Constanta Harbor can rival Marseille, depends on Eastern Europe’s economy

The annual traffic in Constanta Harbor, Romania’s largest, is six million tons below the 1989 level and has yet to match the 2008 level, the peak of the past twenty-five years. The traffic volume in Constanta stood at 55.6 million tons last year. (Source: ZFenglish.com) [...] >> mai mult >>

martie 23, 2015

The first Romanian smartwatch launches at Baselworld 2015

Vector, the first smartwatch developed by a Romanian team, launched at the Baselworld 2015 watch fair. Vector aims to compete with Android Wear and Apple Watch in the growing smart wearable segment by offering 30 days of battery life, in addition to a classic design and a simple interface. Vector [...] >> mai mult >>

martie 23, 2015

Romanians are happier than the average Europeans

Romanians are happier than French, Spaniards and Italians and almost as happy as the Germans and the Brits, a Eurostat survey shows. The statistic shows that Romanians are happier than the French (7.0 average life satisfaction), Spaniards (6.9) and Italians (6.7). The average level of satisfaction [...] >> mai mult >>

martie 23, 2015

Analysts: Romania, second for economic growth in next 6 months

The financial specialists’ expectations of Romania’s economic development have continued to improve in March, but the country has dropped one place in the ranking of Central and Eastern Europe countries. It went down to the second place, behind Slovakia, according to a survey by German [...] >> mai mult >>

martie 20, 2015

Antitrust head says Parliament approved law capping interbank fees on card payments

Romania's Competition Council head Bogdan Chiritoiu on Thursday said the bill capping interbank fees for card transactions was approved by the Parliament and will be sent to President Klaus Iohannis to sign the bill into law. (Source: ZFenglish.com) >> mai mult >>

martie 20, 2015

ZEW: Romania 6-month economic outlook improves in March

Romania ranks second in Central and Eastern Europe by experts' expectations on a six-month time horizon, as Economic Sentiment Indicator rose 4.1 points to 54.2 points in March, and was outranked by Slovakia, according to a survey by German research group ZEW and Austrian group Erste. (Source: [...] >> mai mult >>

martie 20, 2015

ARB: Personal insolvency law to have RON 3.5B (EUR 0.8B) impact on banks

The personal insolvency law applied to the loan portfolio of banks in Romania would have an impact of RON3.5 billion, according to a calculation of the Romanian Banking Association (ARB) based on personal insolvency data on a European level. (Source: ZFenglish.com) >> mai mult >>

martie 20, 2015

BCR ups view on Romania’s GDP growth to 2.8% in 2015

BCR has revised upwards its growth forecast for Romania's gross domestic product to 2.8% in 2015, and 3% next year, supported by domestic consumption amid a low inflation environment. (Source: ZFenglish.com) >> mai mult >>

martie 19, 2015

Government discusses bill regarding conversion of foreign currency loans into lei

Romania's government on Wednesday discussed a bill regarding the conversion of foreign currency-denominated loans into leu-denominated loans. The bill refers to loans in currencies that appreciated by more than 50%. Banks will convert foreign currency-denominated loans into lei and apply a 15% [...] >> mai mult >>

martie 19, 2015

Prefab Bucuresti (PREH RO) aims for 50% growth in 2015

Construction materials manufacturer Prefab Bucuresti (PREH RO) should see growth of 50% in revenue to about 86 million lei (EUR19 million) this year, driven by higher sales of precast concrete products and concrete pipes, says local businessman Marian Milut, who owns a controlling interest in the [...] >> mai mult >>

martie 19, 2015

GFK: Romanians spent only 2% more on FMCG in 2014 despite shopping frequency hike

Romanians only spent 2% more on fast-moving consumer goods (FMCG) on the year in 2014, despite an increase in shopping frequency, unlike most of European countries, according to a GfK survey. (Source: ZFenglish.com) >> mai mult >>

martie 19, 2015

Romania raises foreign debt issuance ceiling to EUR 18b

Romania's government increased the cap of foreign bond issuance from EUR 15b to EUR 18b to cover its gross financing needs for 2015 and 2016. (Source: Zfenglish.com) >> mai mult >>

martie 19, 2015

Romanian Banca Transilvania gets regulators’ approvals for Volksbank takeover

Romania's Competition Council and the National Bank of Romania (BNR) gave local lender Banca Transilvania (BT) the go ahead to complete the Volksbank takeover. Its Austrian parent bank sold Volksbank Romania to Banca Transilvania at the end of 2014. The deal is the biggest in the local banking [...] >> mai mult >>

martie 19, 2015

Eurostat: Romania not at risk of deflation

Romania is among the only 5 EU member states that registered positive annual inflation rates in February 2015, while 20 other EU states registered negative annual inflation rates, the data published by Eurostat shows. Compared to January 2015, the inflation rate dropped in six member states, [...] >> mai mult >>

martie 18, 2015

Romanian PM: 3 IPOs planed for 2H 2015

Romanian PM: 3 IPOs planed for 2H 2015 - Hidroelectrica, National Harbor Administration Company and National Airports Company Bucharest. The Romanian PM Victor Ponta announced the 3 IPOs planned for the second part of this year, saying that the previous listings of Electrica and Romgaz benefited [...] >> mai mult >>

martie 18, 2015

Private pension assets reached EUR 4.5B and 3.05% of GDP

Assets managed by private pension funds in Romania reached RON 20.2B (EUR 4.5B) at the end of 2014, up 36.7% on the year, and account for 3.05% of Romania's gross domestic product, from 2.34% a year before, according to data released Tuesday by financial regulator ASF. (Source: ZFenglish.com) >> mai mult >>

martie 18, 2015

Foreign tourists spent EUR 1.1B in Romania in 2014

Foreign tourists spent RON 5.09B (EUR 1.15B) in Romania last year, up 6.2% from RON 4.79B in 2013, according to data released by the NSI. (Source: National Statistics Institute, ZFenglish.com) >> mai mult >>

martie 18, 2015

Survey: 177 Romanians had wealth of at least USD 30M in 2014, two were billionaires

A number of 177 Romanians had net assets of at least USD 30m in 2014, five more than in 2013, and 120 more Romanians will reach such wealth by 2020, according to a global study on private wealth by Knight Frank. (Source: Zfenglish.com) >> mai mult >>

martie 18, 2015

New car registrations in Romania Up 3.7% in January-February. Commercial utility vehicle registrations up 24%.

New car registrations in Romania increased 3.7% on the year in January and February, while Dacia deliveries in the EU rose 3.6%, to 57,106 units, and a 3% market share. Commercial utility vehicle registrations rose eight times faster than new car registrations in the first two months of the year, [...] >> mai mult >>

martie 18, 2015

ADM buys two export terminals in Constanta harbor

US-held food processing and commodities trading giant ADM has reached an agreement to buy the North Star Shipping and Minmetal grain terminals in Constanta Harbor from Romanian businessmen Liviu Ghebaur and Ion Vasile. (Source: ZFenglish.com) >> mai mult >>

martie 17, 2015

World’s biggest sovereign fund doubles exposure to Romania

Norway's sovereign fund, with assets five times bigger than Romania's GDP, in 2014 doubled its bet on Romania, reaching EUR115 million worth of investments in nine Romanian listed companies.
(Source: Zfenglish.com) >> mai mult >>

martie 17, 2015

British court orders Glencore to pay USD 40m to Romania’s OMV Petrom (SNP RO)

A UK Court decided on Friday that commodities trader Glencore should pay over USD 40m to Romanian oil and gas company OMV Petrom (SNP RO). The court made this ruling in a case in which the Romanian group accused Glencore of fraudulently shipping lower quality oil to Romania in the 1990s, according [...] >> mai mult >>

martie 17, 2015

Romanians are more confident in the EU than in their own country

Romanians are among the most confident citizens in the European Union when it comes to the future of the EU and the European economy, but don't feel the same about their country, a recent Eurobarometer shows. Some 42% of Romanians think that the economic situation of the European Union will improve [...] >> mai mult >>

martie 17, 2015

NSI: Romania’s exports increase more than imports in January

Romania's exports rose in January by 6.4% YoY to EUR 4.18bn, whereas imports went up by 4.1% to EUR 4.36bn.  The country's trade deficit amounted to EUR 174.6m, EUR 76m lower compared to January 2014. Compared to December last year, exports increased by 10.2%, and imports by 4%. Trade with [...] >> mai mult >>

martie 16, 2015

Finance Minister submits resignation on corruption charges

The NAD (National Anticorruption Directorate) has announced on Friday night it has started the criminal prosecution of the Public Finances minister, Darius Valcov for influence peddling in his previous position as mayor of the city of Slatina.
(Source: nineoclock.ro) >> mai mult >>

martie 16, 2015

Franklin Templeton executive: Romania has gone from risky to Eastern Europe’s darling

The severe measures taken by the Romanian authorities in the wake of the financial crisis have paid off, as they restored the country’s competitiveness and made it attractive for foreign investors. However, Romania must work on developing its equity market, which lags behind the bond market, [...] >> mai mult >>

martie 16, 2015

SIF BANAT-CRISANA (SIF1 RO): Management proposed a gross dividend of RON 0.1, DY 7.14%

Management convenes shareholders on April 28th to approve a 41% payout ratio and a gross dividend proposal of RON 0.1 per share implying a dividend yield of 7.14% to the last closing price of RON 1.4. Reference date was set April 10th. Recall that last year SIF1 did not pay any dividends. (Source: [...] >> mai mult >>

martie 13, 2015

NSI: Trade deficit narrows to EUR 176.4m in January

Romania’s exports rose more quickly than imports in the first month of the year and the country’s trade deficit narrowed to EUR 176.4m. (Source: National Statistics Institute) [...] >> mai mult >>

martie 13, 2015

Finance Ministry: Romania sold RON 600m in 10-year bonds, yield rose to 3.1%

Romania’s Finance Ministry on Thursday raised a planned RON 200m (EUR 45m) in a reopening of a ten-year bond due February 2025, with the average yield rising to 3.09% a year (Source: ZFEnglish.com) [...] >> mai mult >>

martie 12, 2015

SIF OLTENIA (SIF5 RO): Management proposed a gross dividend of RON 0.12, DY 7.0%

Management convenes shareholders on April 28th to approve a 73.38% payout ratio and a gross dividend proposal of RON 0.12 per share implying a dividend yield of 7.0% to the last closing price of RON 1.7140. Reference date was set April 2nd. (Source: SIF Oltenia) [...] >> mai mult >>

martie 12, 2015

NSI: Romania’s industrial production growth slows down in January

Romania’s industrial production rose 1.2% YoY in January 2015, as a gross series, while the seasonally adjusted data by number of working days and seasonality showed a 3.4% YoY increase. The industrial production growth slowed down significantly, from a 6.1% YoY growth rate in 2014, dragged [...] >> mai mult >>

martie 10, 2015

OMV PETROM (SNP RO): OMV Petrom board member in charge of Gas&Power leaves

Cristian Secosan, member of the OMV Petrom board responsible for gas and power, is about to end his term almost two and a half years after taking the position. The gas and power unit performed below expectations and was one of the main reasons why Petrom’s profit dropped 56% last year. [...] >> mai mult >>

martie 10, 2015

Pension funds might increase stock market investments by RON 2.3bn

Private pension funds are discussing with the Financial Supervisory Authority (ASF) an increase of the cap on share investments. A 5-percentage point increase to 25% of their assets would translate into an additional RON 2.3bn (EUR 517.5m) allocated to investments in stocks over the next few years, [...] >> mai mult >>

martie 10, 2015

Eurostat: Romania’s economy records higher growth than EU average in Q4’14

The GDP rose by 0.3% in the Eurozone in Q4’14 compared to the previous quarter and by 0.4% in the European Union, whereas Romania’s economy recorded an advance by 0.5%, the European Union’s Statistical Office Eurostat announced on Friday, in a press release. According to some [...] >> mai mult >>

martie 10, 2015

Romania sold RON 500m in 5-year bonds, yield rises to 2.35%

Romania’s Finance Ministry raised on Monday a planned RON 500m in a reopening of a five-year bond due June 2019, while the average yield rose to 2.35%. (Source: ZF.ro) [...] >> mai mult >>

martie 10, 2015

Romania to receive over EUR 565m from the European Commission in two months

The European Commission reimbursed EU funds worth some EUR 565m this year to Romania, related to payment applications submitted in 2014. The Sectoral Operational Programme Transport got the most money, EUR 299m, followed by the Sectoral Operational Programme Human Resources Development, with some [...] >> mai mult >>

martie 9, 2015

BRD-GSG (BRD RO): BRD eyes growth on loan, deposit segments, higher profit in 2015

BRD-Groupe Societe Generale (BRD.RO), the second largest bank in Romania, targets this year a 4.5% increase on lending segment up to RON 27.6bn, a 7.2% hike on deposits segment up to RON 38.6bn, an increase in the net banking income by 3% and a higher profit YoY. On retail the bank foresees a loan [...] >> mai mult >>

martie 9, 2015

Romanian capital market, fastest evolution in Europe

The Romanian capital market has the quickest development in Europe, even if it is still small and faces many challenges, said Ludwik Sobolewski, the general director of the Bucharest Stock Exchange, cited by local Agerpres. Creating the alternative trading market AeRO for small and medium [...] >> mai mult >>

martie 9, 2015

Romania could announce a new euro-denominated bond issuance

Romania sent banks a request proposal for a new euro-denominated bond issuance, sources told Reuters. Romania last accessed the bond markets in October 2014 when it issued ten-year bonds worth EUR 1.5bn with a coupon of 2.875%. On Thursday morning, March 5, the yield on the Romanian [...] >> mai mult >>

martie 9, 2015

Romania’s economy up in 2014 on industry, IT&C

The Romanian economy grew by 2.9% in real terms in 2014, year-on-year. The country’s Gross Domestic Product (GDP) reached some EUR 152 billion in current prices in 2014. The last three months of 2014 brought a 0.5% quarterly economic increase, according to data from the National Statistics [...] >> mai mult >>

martie 6, 2015

SIF MOLDOVA (SIF2 RO): New investment strategy that divides assets into 3 portfolios

SIF Moldova divided its assets worth RON 1.368bn in 3 separate portfolios targeting 3 different management strategies: 73.5% of the assets are considered "core" providing stability through dividends, 5.5% of assets that represent "majority ownership stakes" will be applied private equity strategies, [...] >> mai mult >>

martie 6, 2015

BRD-GSG (BRD RO): Management convenes shareholders on April 9 to approve 2014 results and 2015 guidance

Another point on the agenda refers to profit distribution to retained earnings. Registration date was set March 30th. (Source: BRD)    [...] >> mai mult >>

martie 6, 2015

SIF TRANSILVANIA (SIF3 RO): Management proposed a dividend of RON 0.0125 implying a 4.6% yield

Management convenes shareholders on April 29th to approve a payout ratio of 49.76% implying a gross dividend of RON 0.0125 and a 4.59% yield to the last closing price. Another main point on the agenda refers to the approval of a buy-back program targeting maximum 1% of the share capital representing [...] >> mai mult >>

martie 6, 2015

ALBALACT (ALBZ RO): Milk and dairy producers call for VAT cut to 9% on their products

Romania's local association of dairy and milk producers APRIL called on the ministries of Finance and Agriculture and the Parliament on Thursday to include milk and dairy products among food items for which authorities plan to lower the sales tax to 9% from 24%. (Source: Zfenglish.com) [...] >> mai mult >>

martie 6, 2015

Hidroelectica: Romania aims for EUR 500m from largest power producer listing in 2016

Romania will get at least half a billion euros for a 15% stake in the state-owned power producer Hidroelectrica, believes Remus Borza, the company’s judiciary administrator. This will happen via the stock market listing scheduled for the first half of 2016, after the company’s insolvency [...] >> mai mult >>

martie 5, 2015

BURSA DE VALORI BUCURESTI (BVB RO): Several companies interested to list on AeRO

Nicoro Toys and 7card are two major companies that are considering a listing on AeRO market, along with other 3 start-ups, Contengo Coffe, Techirghiol Cosmetic and Mobuy, and Y food store project. (Source: Wall-Street.ro) [...] >> mai mult >>

martie 5, 2015

Eurostat: Romania retail trade posts fourth highest growth in EU in January

Romania posted the fourth highest annual growth in retail trade in the European Union in January, of 7.3%, overtaken by Luxembourg, Hungary and Poland, Eurostat data showed Wednesday. (Sourced: Eurostat) [...] >> mai mult >>

martie 4, 2015

OMV PETROM, ROMGAZ (SNP RO, SNG RO): Romania’s Ministry of Finance could present new royalty calculation system by end-April

Romania’s Finance Ministry would present the new royalties calculation system to the Government by the end of April, said Finance Minister Darius Valcov, cited by local media. If the Government accepts the new draft law, the Ministry will further send it to the Parliament. The Finance Ministry [...] >> mai mult >>

martie 4, 2015

NBR: Romania’s FX reserves drop by EUR 113m

Romania’s foreign exchange reserves dropped by EUR 113m in February 2015 compared to the previous month, to EUR 30.48bn from EUR 30.6bn on January 31st. In February, the BNR reserves recorded inflows of EUR 659m and outflows of EUR 772m. Romania reimbursed about EUR 343m to the International [...] >> mai mult >>

martie 3, 2015

NSI: Lower jobless rate in Romania in January

The unemployment rate stood at 6.5% in January this year, down 0.1 percentage points month-on-month and 0.5 percentage points compared to January 2014. There were 607,000 unemployed people in Romania in January. The number is lower compared to the 609,000 jobless people in December 2014 and 648,000 [...] >> mai mult >>

martie 3, 2015

NBR: Romania FX reserves down to EUR 30.5bn in February

Romanian foreign exchange reserves fell by EUR 113m to EUR 30.48bn in February, from EUR 30.59bn in the previous month, central bank data showed Monday. (Source: National Bank of Romania)   [...] >> mai mult >>

martie 2, 2015

Fitch affirms Romania at 'BBB-', sees GDP growing close to potential in next 2 years

Fitch Ratings has affirmed Romania's long-term foreign and local currency ratings at 'BBB-'and 'BBB', respectively, with stable outlooks, outlining the country’s relatively positive economic outlook and expecting its GDP to grow close to potential over the next two years. (Source: [...] >> mai mult >>

martie 2, 2015

FONDUL PROPRIETATEA (FP RO): FP's London listing needs regulatory changes

Greg Konieczny, the manager of Romanian investment fund Fondul Proprietatea (FP), prefers that the fund’s secondary listing on the London Stock Exchange takes place through depository interests (DIs). However, this largely depends on Romania’s Financial Supervisory Authority (ASF) as [...] >> mai mult >>

martie 2, 2015

ERSTE GROUP BANK (EBS RO): Erste Group 2014 net loss at EUR 1.4bn

Austria’s Erste Group Bank reported on Friday a net loss of EUR 1.44bn for 2014, due to write-downs and charges in some of its largest markets including Romania. Net interest income declined to EUR 4,495.2m mainly due to the persistently low interest rate environment and FX translation [...] >> mai mult >>

martie 2, 2015

New Europe Property Investments (NEPI RO): NEPI proposes its shareholders dividends of EUR 48m or return of capital

South African property investment fund New Europe Property Investments (NEPI) is proposing its shareholders the distribution of dividends totaling EUR 48.25m or a return of capital. The company has declared an final distribution of 17.35 Euro cents per share in respect of the six months ended 31 [...] >> mai mult >>

martie 2, 2015

Romania posts budget surplus of RON 4bn in January

Romania’s consolidated budget registered a surplus of RON 3.95bn (EUR 889m), or 0.56% of the GDP, supported by higher revenue from income and property taxes, and the value added tax. (Source: ZFenglish.com) [...] >> mai mult >>

martie 2, 2015

Romania plans to sell RON 3.3bn treasuries in March

Romania’s Finance Ministry wants to sell government paper worth 3.34 billion lei (EUR 752m) in March, down from RON 4.3bn in the previous month, according to the issuance plan released Friday. (Source: ZFenglish.com) [...] >> mai mult >>

februarie 27, 2015

Government to approve new Fiscal Code project in March

The Government will discuss the new Fiscal Code project between March 18 – 25 again, but this time to pass it, reports local media.  The Executive presented last week the draft project, with the following key changes affecting the local stock market: (i) VAT cut to 20% [...] >> mai mult >>

februarie 27, 2015

Government adopts Transport Master Plan

After many delays and increasing lack of confidence,the Government approved on Wednesday the Memorandum regarding the Romania’s Transport General Master Plan, a document through which it was decided that a total of EUR 45.45bn is necessary until 2030 for projects of road, rail, naval and [...] >> mai mult >>

februarie 26, 2015

TRANSELECTRICA (TEL RO): Management guidance targets a gross profit of RON 170.7m, 61.7% lower YoY amid more than halved operating profitability YoY

Shareholders are convened on March 23rd having as main points on the agenda the approval of 2015 guidance, 2016 and 2017 forecast and the investment plan. Registration date was set March 13th. Management guided for a topline of RON 2,629m, 6.7% lower YoY, on lower assumed quantities transported, [...] >> mai mult >>

februarie 26, 2015

SIF MOLDOVA (SIF2 RO): Management proposed a dividend of RON 0.1012 implying a 5.8% yield

Management convenes shareholders on April 1st to approve a payout ratio of 22.2% implying a gross dividend of RON 0.1012 and a 5.8% yield to the last closing price, and a bonus share capital increase from RON 51.9m up to RON 103.8m by issuing a total of 519.089.588 new shares with a nominal value of [...] >> mai mult >>

februarie 26, 2015

Cegedim: Romanian drugs market up c12% in Q4’14

The local drugs market increased by 6.8 % last year to RON 11.3bn, according to Cegedim Romania. The best result was in Q4’14, when the amount of drug delivered to patients in Romania reached RON 3.34bn (distribution price considered), up 11.8% YoY and above expectations due in particular to [...] >> mai mult >>

februarie 26, 2015

ELECTRICA (EL RO): Electrica’s acquisitions in Moldova, conditioned by pro-EU attitude

Romanian electricity distributor Electrica is interested in entering the power distribution market in the Republic of Moldova through an acquisition, but this depends on the Moldovian authorities’ pro-European attitude, said the company’s director Ioan Rosca, cited by local Mediafax. [...] >> mai mult >>

februarie 26, 2015

OLTCHIM (OLT RO): Romania wants to sell largest chemical producer for EUR 300m

The state can sell the Romanian chemical producer Oltchim, currently under insolvency, for about EUR 300m said Gheorghe Piperea, partner with RomInsolv SPRL, one of Oltchim’s judicial administrators. The creditors will meet to discuss the company’s reorganization plan in March. The [...] >> mai mult >>

februarie 25, 2015

Prognossis Commission: Romania's GDP will grow by 2.8%

The National Prognosis Commission (CNP) has upgraded its estimation on Romania’s GDP growth for 2015 to 2.8%, from a 2.5% forecast in the fall of 2014. For this year, CNP estimates a nominal GDP of EUR 159.4bn, whereas for 2014, one of EUR 151.4bn. The Commission foresees a 3% [...] >> mai mult >>

februarie 25, 2015

NUCLEARELECTRICA (SNN RO): Romania will import energy in 10 years

Romania will have to import energy ten years from now, when many of its current production capacities will be shut down, which makes the EUR 6bn investment into two nuclear reactors absolutely necessary, said Daniela Lulache, general manager of Nuclearelectrica. (Source: >> mai mult >>

februarie 25, 2015

BURSA DE VALORI BUCURESTI ( BVB RO): AeRO market launched today with Delivery Solutions and Carpathia Capital listings

Delivery Solutions operates with the brand Sameday Courier and is the first and only niche company in Romania of express delivery in the same day. Carpathia Capital is a polish company operating as a venture capital / private equity dedicated to Romanian SMEs. (Source: BVB)   [...] >> mai mult >>

februarie 25, 2015

Hidroelectrica to upgrade 3 power plants for EUR 300m, targets aquisitions

Romania's insolvent state-owned hydropower producer Hidroelectrica wants to invest EUR 300m this year in the upgrade of three hydropower plants and is looking to buy micro hydropower plants in neighboring countries and local wind power capacities of a few hundred megawatts. (Source: >> mai mult >>

februarie 24, 2015

BANCA TRANSILVANIA (TLV RO): Banca Transilvania targets 8% growth in SME lending this year

Banca Transilvania targets an increase of 8% in loans granted to small and medium-sized businesses, to RON 10.8bn from RON 6.83bn last year. (Source: ZFenglish.com) [...] >> mai mult >>

februarie 24, 2015

Hidroelectrica posted record profit in January

Romanian state-owned hydropower producer Hidroelectrica posted a record gross profit of RON 140m in January, double compared to January 2014, the company said in a statement Monday. (Source: ZFenglish.com)   [...] >> mai mult >>

februarie 24, 2015

EBRD wants to see a private company listing on BVB

The European Bank for Reconstruction and Development, an international financial institution with EUR 7bn worth of investments in Romania and a minority stakeholder in the Bucharest Stock Exchange (BVB), wants to see a listing from the private sector as the only way the local bourse can prove [...] >> mai mult >>

februarie 24, 2015

Finance Ministry sold RON 355m treasufy bills at record low yield

Romania's Finance Ministry raised on Monday a lower-than-planned RON 354.8m (EUR 80m) at the first three-month treasury bills auction in more than five years, with the yield falling to an all-time low of 1.24%. (Source: ZFenglish.com)   [...] >> mai mult >>

februarie 24, 2015

Eurostat: Romania agricultural output at EUR 15.5bn in 2014, or 4% of EU output

Agricultural output in Romania totaled EUR 15.48bn last year, accounting for 3.95% of the total EU agricultural production worth EUR 392.3bn, according to Eurostat data. (Source: ZFenglish.com)   [...] >> mai mult >>

februarie 24, 2015

ZEW: Romania climbs to top spot in CEE by 6-month economic outlook

ZEW: Romania climbed to top spot position in Central and Eastern Europe (CEE) by the financial market experts' expectatios on a six-month time horizon, as Economic Sentiment Indicator rose 27 points to 50.1 points in February, according to a survey by German research group ZEW and Austrian group [...] >> mai mult >>

februarie 20, 2015

OMV PETROM (SNP RO): Petrom's hydrocarbon output seen declining 2-4% this year

OMV Petrom expects its hydrocarbon output to go down 2-4% this year and will revise its investment portfolio to optimize costs and eliminate waste, said company CEO Mariana Gheorghe. Petrom also announced that will demolish a part of constructions and installations on the platform of its Arpechim [...] >> mai mult >>

februarie 20, 2015

IPO: Seven new Romanian companies look for financing on alternative share platform

Bucharest Stock Exchange’s alternative trading system AeRO received seven new offers from Romanian companies that are interested in listing their businesses. The new candidates include the bicycle workshops Pegas, local beer producer Zaganu, online apps producer Zitec, outdoor advertiser The [...] >> mai mult >>

februarie 20, 2015

Finance Ministry: Romania sold RON 700m 7-year bonds; yield falls to 2.5%

Romania’s Finance Ministry raised on Thursday a planned RON 700m (EUR 157.7m) in a reopening of its seven-year bond due April 2020, with the average yield falling to 2.53% a year, the lowest level on record for such maturity. (Source: ZF.ro) [...] >> mai mult >>

februarie 19, 2015

OMV PETROM (SNP RO): Petrom posted a Q4'14 preliminary net loss of RON 307m vs. a profit of RON 1,158m in Q4’13 burdened mainly by the lower crude price environment

OMV PETROM reported today Q4'14 IFRS preliminary set of results posting an unexpected RON 111m operating loss burdened by E&P (E&P EBIT down by 71% YoY) on 30% lower average Urals crude price at USD 75.85/bbl as the average realised crude price decreased by 34% YoY to 64.25 USD/bbl. On top [...] >> mai mult >>

februarie 19, 2015

SNG RO: 44% higher FY14 preliminary net profit of RON 1.43bn on 15% higher revenues and improved margins

ROMGAZ Medias (SNG RO) reported today FY14 IFRS preliminary set of results posting a 44% higher net profit of RON 1.43bn amid 15% higher revenues YoY worth RON 4.49bn  and improved margins. The EBITDA rose by 27.04% YoY to RON 2,490m as EBIT jumped 45.5% YoY to RON 1,713m. EPS stands at RON [...] >> mai mult >>

februarie 19, 2015

Romania’s Government to drop dividend tax next year

Romania’s Government plans to eliminate the taxation of dividends distributed by companies in Romania starting January 1, 2016. The proposal is part of the new Fiscal Code project that was presented by the Government on Wednesday, February 18. According to the project, eliminating the tax on [...] >> mai mult >>

februarie 19, 2015

OMV PETROM (SNP RO): OMV Petrom and Exxon find new gas reserves in Black Sea

OMV Petrom, Romania's largest oil and gas company, and US’ ExxonMobil have found a new gas deposit, following the drilling of the third exploration well in the Neptun block in the Black Sea.   [...] >> mai mult >>

februarie 18, 2015

Romania repays EUR 1.5bn to IMF, EU & World Bank

Romania has repaid more than EUR 1.56bn to the International Monetary Fund (IMF), the European Union and the World Bank since the beginning of the year. The state has to cover the stand-by loan it made in 2009. It paid the bulk of the amount, namely EUR 1.546 billion, on January 1. EUR 1.5 billion [...] >> mai mult >>

februarie 17, 2015

Finance Ministry: Romania sold RON 700m 3-year bonds at 1.94% average yield

Romania’s Finance Ministry raised on Monday a planned RON 700m (EUR 157.6m) in the reopening of a three-year bond auction, while the yield fell to an all-time low for that maturity. (Source: Finance Ministry) [...] >> mai mult >>

februarie 17, 2015

NBR: Current account deficit down by 40% in Romania

Romania’s balance of payments ended 2014 with a EUR 696m deficit, down 40% over 2013, when the deficit amounted to EUR 1.17bn. The drop was caused by the services balance’s EUR 1.17bn surplus and the decrease in the primary income deficit with EUR 242m. The long-term debt amounted to EUR [...] >> mai mult >>

februarie 17, 2015

NBR: Foreign direct investment drops by 10% in Romania

Foreign direct investment (FDI) fell by 10.6% last year in Romania to about EUR 2.43bn compared to a peak of EUR 2.71bn in 2013. In December last year, Romania raised funds worth EUR 304m, the third highest level last year, after November, with EUR 531m and May, with EUR 306m. The country recorded [...] >> mai mult >>

februarie 16, 2015

IPO: Six companies ready to try Bucharest Stock Exchange’s new AeRO trading system, three are Polish

The Bucharest Stock Exchange (BVB) recently presented the first six enterprises that plan to list on its alternative trading system AeRO that will officially be launch on February 25. Three of the companies are Polish, one is German, and only two are Romanian, according to Ziarul Financiar. The [...] >> mai mult >>

februarie 16, 2015

NSI: Romania’s economy grows by 2.9% in 2014

Romania’s gross domestic product (GDP) increased by 2.9% in 2014, compared to 2013, according to flash estimates released by the National Statistics Institute (INS). In the fourth quarter of 2014, Romania’s GDP grew by 2.6% compared to the same period of 2013, in gross terms. The [...] >> mai mult >>

februarie 16, 2015

NBR: Romania FDI down to EUR 2.4bn in 2014

Romanian foreign direct investment, or FDI, stood at EUR2.43 billion in 2014, down from EUR2.7 billion in the previous year, data from the central bank showed Friday. (Source: National Bank of Romania) [...] >> mai mult >>

februarie 16, 2015

NBR: Romania CA deficit narrows to EUR 696m in 2014

Romania's current account balance posted a deficit of EUR 696m in 2014, compared with EUR 1.17bn a year earlier, mainly due to a wider services surplus and a narrower primary income deficit, the central bank said Friday. (Source: National Bank of Romania) [...] >> mai mult >>

februarie 16, 2015

NSI: Romania’s inflation at 0.4% in January

Romanian consumer prices rose 0.4% in January from a month earlier, mainly due to higher food and service prices, but the annual inflation fell to 0.4%, the country’s statistics institute said Friday. (National Statistics Institute) [...] >> mai mult >>

februarie 16, 2015

Romania’s Ministry of Finance borrowed EUR 180m

The Ministry of Public Finance (MFP) borrowed EUR 180m from commercial banks on Thursday, February 12, through an auction of treasury bills at a discount, at a yield of 1.46%. The yield on treasury bills with 1-year maturity went down from 1.60% in December last year. The Finance Ministry borrowed [...] >> mai mult >>

februarie 13, 2015

IPO: First Romanian courier listed on the stock exchange

The Romanian company Delivery Solutions that operates the Sameday Courier brand will become the first Romanian parcel services provider listed on the Bucharest Stock Exchange. The current shareholders plan to float about 10% of their shares. Sameday Courier posted a EUR 1.7 million turnover last [...] >> mai mult >>

februarie 13, 2015

CONPET (COTE RO): Conpet posted a preliminary FY14 net profit of RON 50.48m, up 61.3% YoY

If a similar payout ratio to last year is assumed, at 94.4%, for last year we forecast a dividend of 5.5036 RON per share, implying a 8.82% yield to the last closing price of RON 62.4 per share. [...] >> mai mult >>

februarie 13, 2015

BIOFARM (BIO RO): Biofarm posted a preliminary FY14 bottom line of RON 26m, up 2.0% YoY

Supported by a 9.5% jump in revenues YoY up to RON 128.9m the operrating profit surged by 18.8% up to RON 26.5m. Although the net profit fell significantly from RON 6.8m in 2013 down to RON 0.1m at end-2014, lower taxation supported the net profit up 2% YoY at RON 26m. [...] >> mai mult >>

februarie 12, 2015

Romania's energy production up 0.7% in 2014; exports trippled

Romania's energy production rose 0.7% in 2014 fuelling exports as local consumption declined. (Source: ZF.ro) >> mai mult >>

februarie 12, 2015

FARMACEUTICA REMEDIA (RMAH RO): Farmaceutica Remedia sales rose 4.3% last year to RON 244.7m (EUR 55m)

RMAH's top line gained 4.3% YoY last year to RON 245.7m, supporting the net profit 3.6% YoY up to RON 3.12m. (Source: Farmaceutica Remedia) [...] >> mai mult >>

februarie 12, 2015

IMF view of Romania: Internal imbalances corrected, but vulnerability to external shocks remains

The Romanian economy has largely corrected internal and external imbalances with a mix of sound macroeconomic policies, following the global crisis, the International Monetary Fund’s (IMF) representatives concluded after the mission they recently finished in Romania. The IMF mission was in [...] >> mai mult >>

februarie 11, 2015

FONDUL PROPRIETATEA (FP RO): Fith buy-back programme started yesterday

The programme refers to the acquisition by Fondul Proprietatea SA of a maximum number of (i) 227,572,250 shares or (ii) 10% of the issued share capital at the relevant time, whichever is the lesser, at a minimum value of RON 0.2 per share and a maximum one of RON 2.0 per share. The maximum unfolding [...] >> mai mult >>

februarie 11, 2015

CERAMICA Iasi (CERE RO): Ceramica Iasi changes name to Brikston Construction Solutions

Romanian brick manufacturer Ceramica Iasi has changed its name to Brikston Construction Solutions in February, taking over the brand under which its products are known. (Source: ZF.ro) [...] >> mai mult >>

februarie 11, 2015

ALBALACT (ALBZ RO): Albalact to be traded on BVB's second Tier

Albalact to be traded on BVB's second Tier once Rasfaq market segment is closed as the company seeks to grow further and to attract investors. (Source: ZF.ro) [...] >> mai mult >>

februarie 11, 2015

Polish Fund to list La Fantana water distributor on Bucharest Stock Exchange

Polish investment fund Innova Capital mulls listing bottled water wholesaler La Fantana, which it controls, on the Bucharest bourse, according with market sources. Innova Capital representatives said that they preferred not to comment for the moment. The fund acquired the local water supplier in [...] >> mai mult >>

februarie 10, 2015

Finance Minister Darius Valcov: Romania won’t sell bonds on foreign markets in H1’15

Romania will not tap international financing markets in the first half of the year, as previously announced, Finance Minister Darius Valcov told reporters Monday, adding the country might reduce its funding buffer of EUR7 billion. (Source: Zfenglish.ro) [...] >> mai mult >>

februarie 10, 2015

Romania sold RON 600m in 10-year bonds, yield fell to 2.81%

Romania’s Finance Ministry on Monday raised a planned RON 600m (EUR 135.5m) in a reopening of a ten-year bond due February 2025, with the average yield falling to 2.81% a year. (Source: Zfenglish.ro) [...] >> mai mult >>

februarie 10, 2015

NSI: Romania’s exports up 5.8% in 2014, imports also grow

Romania’s exports increased by 5.8% YoY in 2014 to EUR 52.5bn, while imports registered a similar growth of 5.9% up to EUR 58.5bn. The commercial deficit was of EUR 6bn last year, EUR 339m higher than in 2013. In December 2014, the exports dropped by 1.4% YoY to EUR 3.79bn, while the imports [...] >> mai mult >>

februarie 10, 2015

NSI: Industrial turnover, up by 7.8% in Romania

The industrial turnover increased last year by 7.8% over 2013 due to the growth in the manufacturing (7.8%) and the mining and quarrying industries (7.5%). In December 2014, the industrial turnover went down by 10.4% compared to the previous month. The drop in the manufacturing (-10.7%) and the [...] >> mai mult >>

februarie 9, 2015

BURSA DE VALORI BUCURESTI (BVB RO): Bucharest Stock Exchange wants emerging-market status upgrade

BVB is currently in the frontier-market index. To reach the new status, BVB will host four initial public offerings this year, BVB Chief Executive Officer Ludwik Sobolewski said. “All our efforts are aimed at getting on the watch list, if not this year, then next year. In the meantime, we want [...] >> mai mult >>

februarie 9, 2015

ELECTRICA, CONPET (EL RO, COTE RO): Electrica and Conpet eye acquisitions in Moldova

According to media, Romania’s power distribution and supply group Electrica and oil transporter Conpet are, separately, interested in acquiring some assets in the Republic of Moldova. (Source: ZF.ro)   [...] >> mai mult >>

februarie 9, 2015

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Impact posts net profit of RON 4m in 2014 vs a loss of RON 42.4m a year ago

Romanian real estate developer Impact Developer & Contractor reported a net profit of RON 4.1m in 2014 compare to a loss of RON 42.46m in 2013 mainly on gains from asset reassessment. (Source: ZF.ro) [...] >> mai mult >>

februarie 9, 2015

Issue of the Day: International troika, reasonable in Bucharest

The last round of meetings that the IMF, EC and WB are having in Bucharest is scheduled today. The mission meant to assess the agreement signed in September 2013 ends tomorrow and Andrea Schaechter (photo), the head of the mission, will tell us the troika’s point of view. Before the G20 summit [...] >> mai mult >>

februarie 6, 2015

EC sees 2.7% economic growth for Romania this year, sixth highest in the EU

Romania’s economy is expected to grow by 2.7% in 2015, and by 2.9% in 2006, according to the European Commission’s winter forecast, published on February 5. “Romania’s economic growth is forecast to remain robust in 2015 and 2016, mainly driven by domestic demand and [...] >> mai mult >>

februarie 6, 2015

Finance Ministry: Romania sold RON 600m in 5-year bonds, yield falls to 2%

Romania’s Finance Ministry raised on Thursday a planned RON 600m (EUR 136m) in a reopening of a five-year bond due June 2019, while the average yield fell to 1.99%, a new record low for this maturity. (Source: Finance Ministry) [...] >> mai mult >>

februarie 5, 2015

FONDUL PROPRIETATEA (FP RO): FP completed the fourth buy-back programme

The Fund Manager acquired 990.85m FP shares (8.13% of the Fund’s subscribed share capital) through a tender offer for 750,000,000 shares (shares actually purchased: 749,998,142) and daily acquisitions on the Bucharest Stock Exchange. The total value of the buy-back programme was RON 1.04bn and [...] >> mai mult >>

februarie 5, 2015

NBR cut the monetary policy rate to 2.25%

Romania’s National Bank (NBR) decided to lower the monetary policy interest rate to 2.25% from 2.5%, starting February 5. The central bank kept the current levels of minimum reserve requirements ratios unchanged on both leu- and foreign currency-denominated liabilities of credit institutions. [...] >> mai mult >>

februarie 5, 2015

NBR cut again its view on 2015 inflation to 2.1%

Romania’s central bank has lowered again its year-end projection of the inflation rate to 2.1% in 2015, from 2.2% seen previously, governor Mugur Isarescu told media. (Source: National Bank of Romania) [...] >> mai mult >>

februarie 5, 2015

Romania’s Ministry of Finance borrowed additional EUR 20m

The Ministry of Public Finance (MPF) borrowed on Tuesday EUR 20.4m from commercial banks, extra to the government bonds auction on Monday, at an average yield of 2.94% This is a record low for the Romanian state bonds with maturities higher than 10 years. This year MFP intends to borrow about EUR [...] >> mai mult >>

februarie 5, 2015

Darius Valcov, Finance Minister: Romania mulls Eurobonds delay to grab lower yields

Romania may wait until the second half of the year to sell Eurobonds as a high funding buffer lets the government target lower yields, Public Finances Minister Darius Valcov told Bloomberg. He also stated that bond-buying by the European Central Bank is spurring demand for Romanian assets, setting [...] >> mai mult >>

februarie 4, 2015

Pharma retail in Romania: over 8,200 pharmacies sharing a EUR 2.4bn market

Pharmaceutical retail in Romania, represented by more than 8,200 pharmacies, grew 1.7% on the year in 2014, to RON 10.5bn (EUR 2.4bn), according to estimates of market research company PMR, which expects a growth of 4.3% this year. (Source: ZF.ro) [...] >> mai mult >>

februarie 4, 2015

ROMGAZ Medias (SNG RO): Romgaz to supply natural gas worth over RON 800 m to ELCEN by end-September 2015

Romanian natural gas producer Romgaz Medias will supply natural gas worth RON 811.3m (EUR 184.3m) to state-run electricity and thermal power producer Electrocentrale Bucuresti (ELCEN) by the end of September 2015, according to addenda to the contract signed by the two parties. (Source: ZF.ro) [...] >> mai mult >>

februarie 4, 2015

TRANSELECTRICA (TEL RO): Transelectrica signs agreement for Romania-Turkey underwater power cable

Romanian power grid operator Transelectrica and Italy's Prysmian PowerLink will form a team of experts that will analyze the technical, commercial, financial and legal aspects of the building of an underwater cable for the transport of electricity, connecting Romania to Turkey. (Source: ZF.ro) [...] >> mai mult >>

februarie 3, 2015

Finance Ministry: Romania sold RON 600m of 15-year bonds; yield fell to 2.9%

Romania’s Finance Ministry sold on Monday a planned RON 600m (EUR 136m) in state paper in a reopening of its 15-year bond due July 2027, at an average yield of 2.94%, lower than at the previous auction. (Source: ZF.ro) [...] >> mai mult >>

februarie 3, 2015

NBR: Romania FX reserves down by EUR 1.6bn to EUR 30.6bn in January

Romanian foreign exchange reserves fell by EUR 1.62bn to EUR 30.59bn in January, due to payments made for loans taken from the International Monetary Fund and the European Union. (Source: National Bank of Romania) [...] >> mai mult >>

februarie 3, 2015

ROMGAZ (SNG RO): Romgaz in talks with Sterling over new acquisition at the Black Sea

Romanian natural gas producer Romgaz is in talks to take over a 32.5% stake in two offshore fields leased to Canada’s Sterling Resources, whose exploration in the area, carried out since 2007, has had positive results. (Source: ZF.ro) [...] >> mai mult >>

februarie 2, 2015

NSI: Romania unemployment rate down to 6.4% in December

Romania's unemployment rate was down to 6.4% in December from 6.5% in the previous month and 0.6 percentage points below December 2013 level (seasonally adjusted data). (Source: National Statistics Institute) [...] >> mai mult >>

februarie 2, 2015

Romanian banking system loss stood at RON 3.6bn at end-November 2014

Romania's banking system posted a loss of RON 3.58bn in January-November last year, as banks purged their balance sheets of non-performing loans, central bank governor Mugur Isarescu said Friday. Some banks did not align to BNR’s request to clean their portfolios by the end of September 2014. [...] >> mai mult >>

februarie 2, 2015

Romania sets “ambitious” plan for debt sales in February

Romania’s Finance Ministry plans to raise almost RON 5bn (EUR 1.13bn) at debt auctions in February, the highest monthly plan in four years. (Source: ZF.ro) [...] >> mai mult >>

februarie 2, 2015

TRANSELETRICA (TEL RO): Romania’s energy exports hit 10-year high in 2014

Romania’s energy exports, accounting for 15% of the output, hit the highest level in the last ten years in 2014, on the backdrop of lower prices compared with the European average and several external factors, state-run power grid operator Transelectrica (TEL.RO) stated on Friday. (Source: [...] >> mai mult >>

ianuarie 30, 2015

Romania’s Government wants VAT cut for all products

The Romanian Government wants to reduce the VAT on all the goods starting January 2016, according to Prime Minister Victor Ponta, reports local Mediafax. Last Friday he said that the Government would either cut the VAT by three percentage points, or reduce the VAT on product categories, especially [...] >> mai mult >>

ianuarie 30, 2015

Foreign banks’ exposure to Romania’s economy down by 10.5%

Foreign banks’ exposure to the Romanian economy dropped by 10.5% from USD 44.24 billion (EUR 38.9 bln) to USD 39.59 billion (EUR 34.8 bln) over a 12-month period that ended in September 2014. Banks’ exposure decreased with USD 898 million (EUR 790 mln) in Q3 of 2014, over the previous [...] >> mai mult >>

ianuarie 30, 2015

NBR: Overdue loan payments down by 11.8% in Romania

The arrears on loans for individuals and companies amounted to over EUR 6.45 billion at the end of 2014, down 11.8% over the same period in 2013. The arrears in national currency reached EUR 2.71bn, down 6.5% while those in FX amounted to about EUR 3.72bn, down 15.4%. The overall loans totaled EUR [...] >> mai mult >>

ianuarie 30, 2015

Romania’s budget deficit stays below target agreed with IMF and EC

Romania’s budget deficit reached 1.85% of GDP at the end of 2014 compared to an initial target for the fiscal deficit in 2014 was 2.2% of GDP. Recall that the Government agreed with the IMF and the EC upon a budget deficit of 1.83% of GDP for this year. (Source: Mediafax.ro) [...] >> mai mult >>

ianuarie 30, 2015

Banking sector: Stress tests for local banks based on ECB methodology

In 2015 the Romanian banking system will go through an assessment conducted under the supervision of the National Bank of Romania (BNR). Some banks have already started to prepare for this exercise, using the European Central Bank methodology. The ECB stress tests, which culminated with the [...] >> mai mult >>

ianuarie 29, 2015

NSI: Romanian executives expect declining activity in retail, constructions in Q1’15

Romanian managers predict activity in the retail sector will moderately fall over the January-March period compared with the previous three months, with a significant decline expected in constructions, the statistics institute INS said in a survey released Wednesday. (Source: National Statistics [...] >> mai mult >>

ianuarie 29, 2015

EU does not accept extra compensations for Romanian dairy producers

Romania and Bulgaria have not managed to obtain from the EU supplementary compensations for dairy producers affected by the Russian embargo on EU agricultural products, Bulgarian Agriculture Minister Dessislava Taneva stated after the meeting of the EU Agricultural Ministers Council on Monday, the [...] >> mai mult >>

ianuarie 29, 2015

NAVROM Galati (COVG RO): Navrom Galati to be delisted from Bucharest Stock Exchange

Romanian river navigation company Navrom Galati, the biggest company on Rasdaq market, will be delisted from Bucharest Stock Exchange as shareholders did not approve the transfer from Rasdaq to another market. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 29, 2015

FONDUL PROPRIETATEA (FP RO): FSA endorsed the share capital reduction

The Financial Supervisory Authority endorsed the decrease of the subscribed share capital from RON 11.8bn to RON 11.57bn following the cancellation of 252.85m treasury shares acquired by the Fund during the third buy-back programme in 2014. The share capital decrease is effective beginning with 27 [...] >> mai mult >>

ianuarie 28, 2015

Romanian software solution provider Arobs Transilvania might float on the main segment of Bucharest Stock Exchange this year if the audit and market conditions are favorable

 Romanian software solution provider Arobs Transilvania might float on the main segment of Bucharest Stock Exchange this year if the audit and market conditions are favorable, as a financing solution for the acquisition of a fleet management company, general manager Voicu Oprean stated [...] >> mai mult >>

ianuarie 28, 2015

Electricity imports and exports will be carried out only by energy traders

Electricity imports and exports will be carried out only by energy traders, based on a trading license issued by Romania’s energy regulator ANRE. (Source: ZF) [...] >> mai mult >>

ianuarie 28, 2015

Romania climbed five spots in a global chart of economic freedom, making its economy the 57th freest in 2015

Romania climbed five spots in a global chart of economic freedom, making its economy the 57th freest in 2015, but is still outranked by countries such as Macedonia, Hungary, or Bulgaria, according to a study conducted by Heritage Foundation in partnership with Wall Street Journal for 178 [...] >> mai mult >>

ianuarie 27, 2015

Romanian state-owned hydropower producer Hidroelectrica had a record turnover of RON3.4 billion (EUR765.7 million) last year

Romanian state-owned hydropower producer Hidroelectrica had a record turnover of RON3.4 billion (EUR765.7 million) last year, 10.3% higher than in 2013, and a profit of RON1.2 billion (EUR270 million), it’s highest yet, up 66.8% from 2013. (Source: ZF) [...] >> mai mult >>

ianuarie 27, 2015

The financial market experts' assessment of the current economic situation for Romania has slightly improved in January

The financial market experts' assessment of the current economic situation for Romania has slightly improved in January, while the Economic Sentiment Indicator, which reflects the expectations on a six-month time horizon, fell sharply, posting the third largest decline in Central and Eastern Europe [...] >> mai mult >>

ianuarie 27, 2015

Four companies in Bega group will be delisted from Bucharest Stock Exchange

Four companies in Bega group, Bega Electromotor (ELTR RO), Bega Minerale Industriale (BMIA RO), BegaTurism (SCDF RO) and Bega Tehnomet (TEHO RO), will be delisted from Bucharest Stock Exchange as shareholders did not approve the transfer from Rasdaq market to another market.(Source: ZF) [...] >> mai mult >>

ianuarie 26, 2015

On Monday, Ministry of Finance intends to borrow RON 0.4bn in papers with eight years residual maturity

Is expected government to pay yields around 2.75 %. [...] >> mai mult >>

ianuarie 26, 2015

Three companies and a Polish investment fund are readying for floatation on the alternative trading system AeRO

Three companies and a Polish investment fund are readying for floatation on the alternative trading system AeRO operated by the Bucharest Stock Exchange (BVB) and destined to small companies and startups seeking funding,(two IT companies and a courier services company). (Source: ZF) [...] >> mai mult >>

ianuarie 26, 2015

Electroputere VFU Pascani (RMAR), part of Grampet group, owned by businessman Gruia Stoica, will be delisted from Bucharest Stock Exchange

Electroputere VFU Pascani (RMAR), part of Grampet group, owned by businessman Gruia Stoica, will be delisted from Bucharest Stock Exchange as shareholders did not approve the transfer of the company from Rasdaq market to another market. [...] >> mai mult >>

ianuarie 23, 2015

According to National Employment Agency, unemployment rate inched up in December 2014 to 5.29% from 5.18% posted at the end of November

The number of unemployed persons stood at 478,338. [...] >> mai mult >>

ianuarie 23, 2015

Romania has limited growth potential of electricity demand by 2025, of only 0.7%

Romania has limited growth potential of electricity demand by 2025, of only 0.7%, which is expected to fall to just 0.2% a year should the deindustrialization process of the high-energy intensive sector continue, according to a study by AT Kearney and Romanian investment fund Fondul [...] >> mai mult >>

ianuarie 23, 2015

On Thursday, Romania’s Finance Ministry sold a planned 800 million lei (EUR178 million) in 11-month treasury bills

On Thursday, Romania’s Finance Ministry sold a planned 800 million lei (EUR178 million) in 11-month treasury bills, with the yield falling to 1.36%, a record low for this maturity. [...] >> mai mult >>

ianuarie 22, 2015

FONDUL PROPRIETATEA (FP RO): Shareholders approved yesterday share capital reduction to 0.9 RON per share.

Similar to last year, RON 0.5 will be distributed to shareholders as special dividend. Shareholders also have granted a new mandate for Templeton for the secondary listing on London Stock Exchange. The mandate is valid by July 10, 2015. (Source: Fondul Proprietatea)   [...] >> mai mult >>

ianuarie 21, 2015

Mircea Ursache, VP of FSA: Romanian capital market legislation, at emerging market level.

The Romanian capital market legislation is currently at emerging market level following the amendments operated in the last two years, vice-president of Romania’s Financial Supervisory Authority (ASF), Mircea Ursache, said Tuesday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 21, 2015

OLTCHIM Rm. Valcea (OLT RO-insolvency): Oltchim’s reorganization plan to include its sale.

The reorganization plan of Romanian insolvent chemical company Oltchim SA will stipulate the company’s sale to an eligible buyer, Oltchim said in a statement on Tuesday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 21, 2015

Romania’s Central Depository to pay dividends through CEC Bank.

Romania’s Central Depository, which manages the settlement and clearing services for transactions made on the Bucharest Stock Exchange, announced that it will pay the cash dividends of companies listed on the stock exchange only through CEC Bank, the largest state-owned bank. The contract will [...] >> mai mult >>

ianuarie 20, 2015

Eurostat: Romania registers highest inflation rate in the EU in December.

Romania recorded the highest annual inflation rate in the European Union in December 2014, with 1%, while the Euro area annual inflation was of -0.2%, and the European Union annual inflation was -0.1% – or deflation – in December 2014, down from 0.3% in November. Romania was followed by [...] >> mai mult >>

ianuarie 20, 2015

Romania plans new Eurobond issue in following months.

Romania plans to sell new bonds on the international markets by July, taking advantage of record-low yields, according to a Finance Ministry official quoted by Bloomberg. The government is seeking to expand the average maturity of its debt by selling a Eurobond with a term of more than 10 years, [...] >> mai mult >>

ianuarie 20, 2015

EBRD keeps Romania GDP growth forecast at 2.8% in 2015.

The European Bank for Reconstruction and Development (EBRD) Monday maintained its forecast on Romania’s economic growth at 2.8% in 2015, saying the economy would benefit from rising confidence, investment and lower oil prices. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 20, 2015

HIDROELECTRICA: Hidroelectrica seeks to sell 33 micro power plants in February for EUR 19m.

Romania's state owned hydropower producer Hidroelectrica, undergoing insolvency, will hold an auction on February to sell 33 of its remaining 128 micro power plants, at a starting price of RON 84.7m (EUR 18.8m), the company's judicial administrator said Monday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 19, 2015

S&P: Romania scores 9.8 pct for five-year cumulative default probability.

In terms of the capacity to honor its foreign debts in the next five years, Romania is currently in a better position than countries such as Italy, Hungary, Bulgaria, Portugal and Greece, shows the latest report by Standard & Poors – “S & P Capital IQ Sovereign Debt Report Q4 [...] >> mai mult >>

ianuarie 19, 2015

FONDUL PROPRIETATEA (FP RO): FP posts record profit of EUR 228m, up 48% YoY, on asset sales.

Most of the profit came from dividends paid by companies in which FP holds stakes, as well as from the fund’s asset sales, which reached EUR 240m in 2014. The fund sold several significant stakes last year, in gas producer Romgaz, electricity transport company Transelectrica and oil pipe [...] >> mai mult >>

ianuarie 16, 2015

Romania sold RON 500m in 5-year bonds, at an 2.2% average yield.

Romania’s Finance Ministry raised on Thursday a planned RON 500m (EUR 111m) in a reopening of a five-year bond due June 2019, with the yields continuing the decreasing trend seen at previous auctions. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 16, 2015

Bucharest municipality to issue bonds worth EUR 500m.

Bucharest’s municipality is looking to raise EUR 500 million worth of bonds, but in local currency (RON), to refinance a EUR 500 million Eurobond issue which reaches maturity towards the middle of this year, on June 22. This will be the largest bond issue in Romania, apart for those of the [...] >> mai mult >>

ianuarie 16, 2015

SIF TRANSILVANIA, BURSA DE VALORI BUCURESTI (SIF3 RO, BVB RO): SIF3 increased its stake in the Bucharest stock market operator above 5% at 5.079%.

SIF TRANSILVANIA, BURSA DE VALORI BUCURESTI (SIF3 RO, BVB RO): SIF3 increased its stake in the Bucharest stock market operator above 5% at 5.079%. (Source: SIF Transilvania) [...] >> mai mult >>

ianuarie 15, 2015

NSI: Romania 3Q GDP growth revised slightly up.

Romania’s gross domestic product grew 3.3% in the third quarter of 2014 compared with the year-earlier period, revised data from the country’s statistics office INS showed Wednesday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 15, 2015

World Bank cuts Romania’s 2015 GDP growth forecast to 2.9%.

The World Bank estimates Romania’s economy will grow 2.9% in 2015, a downward revision from its previous forecast, but is expected to accelerate to 3.2% next year. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 15, 2015

BURSA DE VALORI BUCURESTI (BVB RO): ING hiked its stake in Bucharest stock market operator to 5.57%.

Several pension funds managed by Dutch group ING increased their stake in the Bucharest Stock Exchange by 0.62% to 5.57% on January 9, when the provision according to which ownership threshold in market operators could be raised from 5% to 20% came into force. (Source: BVB)   [...] >> mai mult >>

ianuarie 14, 2015

NSI: Romania industrial new orders down in November.

Romanian industrial new orders fell in November for the second consecutive month, the country’s statistics institute INS said Tuesday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 14, 2015

NSI: Industrial sales fell in November.

Romanian industrial sales went down 5.9% in November, after a minor increase in the previous month, data released by the statistics institute INS showed. (Source: ZF.ro)   [...] >> mai mult >>

ianuarie 14, 2015

NBR: CA deficit narrows to EUR 302m in January-November.

Romania's current account balance posted a deficit of EUR 302m in the first eleven months of 2014, compared with EUR 801m in the year-earlier period, mainly due to a wider services surplus and a narrower goods deficit, central bank data showed. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 14, 2015

NBR: Foreign investments down to EUR 2.1bn in first 11 months, despite high in November.

Romanian foreign direct investment, or FDI, stood at EUR 2.12bn after the first 11 months of 2014, after a high inflow in November, data from the central bank showed Tuesday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 14, 2015

Enel to sell off its Romanian assets in first half of the year.

Italy’s Enel Spa is moving ahead with its plans to sell its assets in Romania and Slovakia, despite the recent delay, an effort needed in order to reassure investors that it will reduce its debt and will once again focus on faster growth markets, an article published by the ‘Financial [...] >> mai mult >>

ianuarie 14, 2015

NSI: Annual inflation rate reaches new record low in December 2014.

Consumer prices in Romania went down by 0.1% MoM in December 2014, as prices of non-food products decreased by 0.5% and service tariffs and food prices increased by 0.3% and 0.2% respectively. The annual inflation rate dropped to 0.86% in December, this being a new record low. This was mainly due to [...] >> mai mult >>

ianuarie 14, 2015

FONDUL PROPRIETATEA (FP RO): Hidroelectrica posts record profit for 2014.

Romania’s largest electricity producer Hidroelectrica last year recorded a profit margin of over 30% and became the second most profitable state-owned company. Hidroelectrica had EUR 740m in revenues and a profit of almost EUR 270m, the best result in the company’s history, according to [...] >> mai mult >>

ianuarie 13, 2015

Finance Ministry: Romania sold RON 364m in 10-year bonds, yield Fell to 3.28%.

Romania’s Finance Ministry raised on Monday a higher-than-planned RON 364m (EUR 81m) in a reopening of a ten-year bond due February 2025, with the average yield falling to 3.28% a year, among increased demand. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 13, 2015

NSI: Trade deficit increases with EUR 92m in Romania in 2014.

Romania’s exports amounted to EUR 48.7bn while imports recorded EUR 54bn in the first 11 months of 2014, up by 6.5%, respectively 6.0%, compared to the same period in 2013, according to the National Institute of Statistics. Exports amounted to EUR 4.6bn and imports reached EUR 5.1bn in [...] >> mai mult >>

ianuarie 13, 2015

ROMGAZ Medias (SGN RO): Romanian gas producer signs 4 contracts worth EUR 54m.

Romanian gas producer Romgaz has signed four contracts worth over EUR 54.1m (VAT included) for the sale of gas with energy groups Energoterm, Gdf Suez Energy Romania and Electrocentrale Constanta, according to a report sent to the Bucharest Stock Exchange. Romgaz has signed with the Tulcea-based [...] >> mai mult >>

ianuarie 13, 2015

ANTIBIOTICE Iasi (ATB RO): Antibiotice works with three Indian companies.

Local pharmaceutical manufacturer Antibiotice will work with three Indian companies to develop antiviral drugs for treating tuberculosis and cancer, according to Indian newspaper The Economic Times, reports local Ziarul Financiar. Antibiotice Iasi will work with the Indian company Aurobindo Pharma [...] >> mai mult >>

ianuarie 12, 2015

ANRE: Natural gas consumption in Romania exceeds 87mln MWh in the first nine months of 2014.

Natural gas consumption in Romania totaled 87.080 million MWh in the first nine months of 2014, down by 5.4% compared to that in the similar period of 2013, which amounted to 92.047 million MWh, according to a report posted on the website of the National Energy Regulatory Authority (ANRE). The [...] >> mai mult >>

ianuarie 12, 2015

Romania’s EU funds rate of utilization up 52 pct since May 2012.

Romania’s Prime Minister Victor Ponta says his governments brought the rate of utilization of European funds from 7 percent in May 2012 to 52 percent; the target for 2015 is 75-80 percent of the available structural and cohesion funds, he declared on Thursday. ”It was probably one of the [...] >> mai mult >>

ianuarie 12, 2015

INS: Romania’s exports reached EUR 48.7bn in the first 11 months of 2014.

Romania’s exports reached 48.7 billion euro in the first 11 months of 2014, up by 6.5 percent, whilst imports recorded 54 billion euro, by 6 percent higher compared to January to November 2013, according to the data released on Friday by the National Statistics Institute (INS). FOB exports [...] >> mai mult >>

ianuarie 12, 2015

PM: Romania doesn’t need an IMF precautionary agreement anymore.

Romania no longer needs a precautionary agreement with the International Monetary Fund (IMF), but rather a flexible agreement, like the one Poland currently has, which would not cost the country anything, said yesterday the Prime Minister Victor Ponta, reports local Ziarul Financiar. He added that [...] >> mai mult >>

ianuarie 9, 2015

NBR Governor: Inflation to remain below 1.5% for a few months.

Inflation will remain below the minimum limit of the variation range of 1.5%, at least for a few months, mainly due to the lower-than-expected decrease in the oil price internationally, Governor of Romania’s Central Bank (BN) Mugur Isarescu told a  press conference. Isarescu also stated [...] >> mai mult >>

ianuarie 9, 2015

Romania sold RON 500m 3-Year bonds at 2.07% average yield.

Romania’s Finance Ministry raised on Thursday the planned RON 500m (EUR 111m) at a highly oversubscribed three-year bond auction, while the yield fell to an all-time low for that maturity. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 9, 2015

Eurostat: Romania retail trade posted third highest growth in EU in November 2014.

Romania registered the third highest annual growth in retail trade in the European Union in November 2014, of 8.2%, overtaken by Luxembourg and Estonia, Eurostat data showed Thursday. (Source: Eurostat) [...] >> mai mult >>

ianuarie 9, 2015

Romania’s EU fund absorption rate seen at 80% for 2007-2013.

Romania’s EU fund absorption rate for financial framework 2007-2013 will be at 80%, while in the first year of implementation for 2014-2020 framework, the absorption rate is estimated at 10%, EU Funds Minister Eugen Teodorovici stated on Thursday. (Source: ZF.ro) [...] >> mai mult >>

ianuarie 9, 2014

Romania’s drug market seen growing in 2015 after challenging 2014.

The drug market is likely to rise by 2-3% this year above RON 12bn, according to media calculations based on the expectations of the main players in this industry , after a difficult 2014 year, when drug sales recovered in the last months due to the extremely cold season. (Source: ZF.ro) >> mai mult >>

decembrie 30, 2014

NUCLEARELECTRICA (SNN RO): Nuclearelectrica to increase share capital, share subscription period to start on January 5.

The Financial Supervisory Authority (ASF) has approved the bidding prospectus for the share capital increase and the subscription period related to the share capital increase will start on January 5 and will continue for a period of 31 calendar days, until February 4, 2015. Increasing the share [...] >> mai mult >>

decembrie 30, 2014

Romania’s budget posts minor deficit after 11 months.

Romania’s consolidated budget turned to a deficit of 0.04% of the gross domestic product after the first 11 months, from a surplus of almost 0.3% of GDP at the end of October, Finance Ministry data showed Monday. (Source: ZF.ro) [...] >> mai mult >>

decembrie 30, 2014

NBR: Bad loans reach 2.5-year low in Romania.

The volume of nonperforming loans decreased by 21.3% YoY in November 2014 to EUR 5.98bn and by 0.5% MoM. Bad loans thus reached a minimum level for the last two and a half years, after it has dropped for seven consecutive months. In October, the overdue loans amounted to EUR 6.02bn and in November [...] >> mai mult >>

decembrie 30, 2014

Private pension funds to reach almost EUR 6bn by the end of 2015.

The mandatory private pension funds (Pillar II) and the optional ones (Pillar III) will reach assets of about EUR 5.9bn at the end of 2015, EUR 5.15bn of which corresponds to the Pillar II, according to estimates from the Romanian media agency Mediafax. The contribution rate to the Pillar II will [...] >> mai mult >>

decembrie 23, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Holiday trading calendar.

Bucharest Stock Exchange (BVB) informs that December 24th and December 31st are non-trading days. Thus, the last trading day in 2014 is December 30th, while the first trading day of 2015 is January 5th. (Source: BVB) [...] >> mai mult >>

decembrie 29, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Tiers I, II and III of the regulated market to be replaced by premium and standard tiers from January 5, 2015.

Bucharest Stock Exchange (BVB) announces that starting January 5, 2015, will come into force a new market segmentation, by replacing the I, II and III Tiers with the Premium and Standard Tiers. Selecting issuers for analysis to promote to Premium tier is based on the following alternative criteria: [...] >> mai mult >>

decembrie 29, 2014

OMV PETROM (SNP RO): OMV Petrom to deliver gas to Moldova starting January.

OMV Petrom signed an agreement with Energocom in the Republic of Moldova for the delivery of gas starting January 1, 2015, through the Iasi-Ungheni pipeline. According to sources cited by media, the contract was signed for a period of one year. The Iasi-Ungheni pipeline was inaugurated earlier this [...] >> mai mult >>

decembrie 29, 2014

NBR: Romanians save more money in local currency than in FX.

Individuals’ deposits in the national currency RON increased by 1% in November over the previous month, amounting to more than RON 83bn, while FX deposits dropped by 0.4% to RON 50.3bn. Retail deposits in RON increased by 4.9% (3.6% in real terms) YoY in November, while those in [...] >> mai mult >>

decembrie 23, 2014

Boosting Romania’s competitiveness: EU adopts investment plan worth EUR 1.58bn.

The European Commission has  adopted the 2014-2020 Operational Programme for Competitiveness in Romania, worth more than EUR 1.58bn of investments to the Romanian real economy, of which EUR 1.32bn comes from the European Regional Development Fund (ERDF). It will focus on two priorities: [...] >> mai mult >>

decembrie 23, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 890m own shares in the 4th buy-back program worth RON 959m.

Up to date Fondul Proprietatea repurchased 890m shares worth RON 959m (89.9% of 4th buy-back program started on October 1st) at an average price of RON 0.9236 per share, ranging between a minimum of 0.8754 RON and a maximum of 1.11 RON per share, the offer price. The 4th buy-back program targets the [...] >> mai mult >>

decembrie 22, 2014

BANCA COMERCIALA CARPATICA (BCC RO): BCC shareholders rejected the merger with Nextebank.

Shareholders empowered the management to raise capital by more than RON 155m over a period of one year by issuing shares related to the subordinated loans convertible into shares. Recall that the majority shareholder, Mr Ilie Carabulea along with various related parties want to sell a majority stake [...] >> mai mult >>

decembrie 22, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Impact borrows EUR 4m from Banca Transilvania for residential project.

Impact took an 18 months loan worth RON 18m from local lender Banca Transilvania, to finance new real estate investments. One of its main projects is the Greenfield 2 residential project in northern Bucharest, near Baneasa forest. The money borrowed from Banca Transilvania will be used to finance [...] >> mai mult >>

decembrie 22, 2014

NSI: Unemployment rate drops to 6.5% in Romania.

The unemployment rate stood at 6.5% in Romania in the third quarter, down from 6.7% in the previous three months. The unemployment rate among men was slightly higher than in the case of woman: 6.8% compared to 6.2%, the data reveals. In the urban areas, the unemployment rate stood at 7.9%, higher [...] >> mai mult >>

decembrie 18, 2014

NUCLEARELECTRICA (SNN RO): Nuclearelectrica to sell less energy to retail, at a higher price.

State-owned electricity producer Nuclearelectrica will sell next year 2.25 million MWh on the regulated market, representing 21.4% of scheduled production, down 40% from 3.74 million MWh this year, but at a  higher price of RON 158.63 per MWh implying revenues of EUR 79.86m, according to a [...] >> mai mult >>

decembrie 18, 2014

TRANSELECTRICA (TEL RO): Transelectrica marginally impacted by the uniform transmission tariff.

Uniform tariff for electricity input into the network paid by electricity producers will have a marginal impact on revenues in the short term and a neutral impact on the medium and long term. Romania’s energy watchdog ANRE proposed a uniform tariff for electricity input into the network of [...] >> mai mult >>

decembrie 18, 2014

TRANSELECTRICA, TRANSGAZ Medias (TEL RO, TGN RO): Transelectrica and Transgaz placed under Economy Ministry’s authority.

Romania’s government approved an ordinance placing state-run companies Transelectrica (TEL RO) and Transgaz (TGN RO) under the authority of the Economy Ministry, people familiar with the matter stated yesterday. (Source: ZF.ro) [...] >> mai mult >>

decembrie 17, 2014

OMV PETROM (SNP RO): OMV Petrom and Hunt Oil Company discovered a new oil and gas field in Buzau County.

The estimates indicate a potential production per well of 1,200-2,100 boe per day. According to management, this is potentially the largest discovery in the past 30 years in Muntenia region. (Source: Petrom)  [...] >> mai mult >>

decembrie 17, 2014

Hidroelectrica negotiating takeovers in Serbia and Montenegro.

Hidroelectrica plans to purchase several production capacities located in neighboring states Serbia and Montenegro, according to Remus Borza, the company’s trustee in bankruptcy. (Source: Hidroelectrica) [...] >> mai mult >>

decembrie 17, 2014

NBR: Foreign investments to Romania, down by EUR 200m.

The foreign direct investments went down by EUR 200m YoY in the first ten months of the year, on MoM basis increased by EUR 80m. The FDI amounted to EUR 1.6bn in the first ten months. (Source: National Bank of Romania) [...] >> mai mult >>

decembrie 17, 2014

New Finance Minister plans to lower VAT to 22%.

Darius Valcov, recently nominated Public Finance Minister, stated that one of the goals of his term would be lowering the VAT. Heard by the Parliament’s finance and banking commissions before taking over the Finance Ministry, Valcov stated that he seeks to lower the VAT from 24% to 22% or even [...] >> mai mult >>

decembrie 16, 2014

Radu Ghetea, President of the Romanian Banking Association: Banks in Romania to resume lending in 2015.

The Romanian banking system will finish 2014 with clean balance sheets, although with losses, and lending will resume in 2015, stated Radu Ghetea, President of the Romanian Banking Association. The credit lines withdrawn by the parent banks from Romania will return, because the banks’ [...] >> mai mult >>

decembrie 16, 2014

Hidroelectrica: Romania’s largest energy producer ups profit by 66% in November.

State-owned electricity producer Hidroelectrica recorded in November a EUR 29m profit, up 66% YoY, supported by measures aimed to reduce operating costs and increase the energy production. Hidroelectrica posted a EUR 239m profit in the first 11 months, up 28% from the same period last year when the [...] >> mai mult >>

decembrie 16, 2014

OLTCHIM Rm. Valcea (OLT RO): No investor for Romania’s chemical producer Oltchim by privatization deadline.

None of the four investors that had shown interest in taking over the majority stake in chemical producer Oltchim submitted a bid by the deadline on Friday, according to the Oltchim judicial administrator Gheorghe Piperea. The groups that had shown interest in Oltchim were the Chinese consortium [...] >> mai mult >>

decembrie 16, 2014

NSI: Industrial production, up 8%, in first ten months in 2014 (adjusted terms).

Industrial production in terms adjusted to the number of working days and seasonality, in the first ten months of the year, compared to the period January 1 to October 31, 2013, went up by 8.0% due to growth of the processing industry by 9.5%, and the mining industry by 1.2%. The generation and [...] >> mai mult >>

decembrie 16, 2014

SMEs to be captive consumers following Jan. 1, 2015 gas price liberalisation.

The small and medium-sized enterprises (SME) will become captive consumers following the liberalisation of the natural gas prices from Jan. 1, 2015, since the laws in force do not provide for alternative solutions for the need of heating agent, the chairman of the National Council of the Romanian [...] >> mai mult >>

decembrie 15, 2014

SIF BANAT CRISANA (SIF1 RO) will resume trading at 10:10 local time.

decembrie 15, 2014

FONDUL PROPRIETATEA (FP RO): FP November NAV per unit of 1.1862, down 1.7% MoM and 4.6% YoY.

FONDUL PROPRIETATEA (FP RO): FP November NAV per unit of 1.1862, down 1.7% MoM and 4.6% YoY.  (Source: Fondul Proprietatea) [...] >> mai mult >>

decembrie 15, 2014

EUROSTAT: Industrial production up by 3.9% YoY in Romania.

Romania’s industrial production went up by 3.9% YoY in October 2014, ranking 2nd among the EU members states, according to the EU statistical office (Eurostat). The highest growth rates in industrial production among the EU member states in October were recorded in Ireland (38.8%), Romania and [...] >> mai mult >>

decembrie 12, 2014

BANCA COMERCIALA CARPATICA (BCC RO): Carabulea and related parties want to sell a majority stake in BCC.

According to an update report on the stage of the sale published yesterday, in the extraordinary assembly convened on December 19th shareholders will approve either the merger with Nextebank or the share capital increase by way of Tier 2 capital, associated with a disposal of a significant [...] >> mai mult >>

decembrie 12, 2014

BURSA DE VALORI BUCURESTI (BVB RO): BVB gets green light from FSA to launch AeRO.

The Bucharest Stock Exchange (BVB) has received the approval from the Financial Supervisory Authority (FSA) to the new rules of operation of the alternative trading system called AeRO (Alternative Exchange Romania), intended primarily for financing small and medium enterprises with high growth [...] >> mai mult >>

decembrie 12, 2014

ROMGAZ Medias (SNG RO): Romgaz discovers new hydrocarbon reserves in blocks leased from ANRM.

The National Agency for Mineral Resources (ANRM) proposed the government to extend by 16 years, until 2030, the nine concession agreements closed with the state-run natural gas producer Romgaz (SNG.RO) after it discovered new hydrocarbon resources. (Source: ZF.ro) [...] >> mai mult >>

decembrie 12, 2014

Romania-Bulgaria-Greece gas corridor to transport 3-5 billion cubic meters.

The European Union is considering several options to replace the South Stream gas pipeline cancelled by Russia, one of them being to transport natural gas from Azerbaijan through Turkey, in the context in which Romania, Bulgaria and Greece have signed in Brussels a cooperation agreement in this [...] >> mai mult >>

decembrie 12, 2014

HIDROELECTRICA: Borza - We want to attract EUR 500m from the IPO.

According to Remus Borza, the judiciary administrator of Hidroelectrica, the company shall exit the insolvency in June-July 2015 and the listing may take place at the end of the year. He also stated that the state targets to achieve more than EUR 500m from the sale of a 15% stake on the stock [...] >> mai mult >>

decembrie 12, 2014

Romania to sell Goverment bonds to the population in early-2015.

Romania will sell government bonds to the population in the first quarter of next year, initially estimated at RON 100m (cEUR 22m), but the amount can be modified according to brokers’ recommendations and the demand from the population. The bonds will be sold on the Bucharest Stock Exchange [...] >> mai mult >>

decembrie 12, 2014

NSI: Trade deficit reaches EUR 4.8 bln in Romania.

The trade deficit in Romania increased by EUR 60m YoY in the first ten months of the year reaching to EUR 4.8bn. Exports amounted to EUR 44bn and imports reached EUR 48.8bn. Compared to the first ten months of 2013, exports increased by 6.8% and imports increased by 6.2%, in EUR terms. (Source: [...] >> mai mult >>

decembrie 12, 2014

NSI: Annual inflation rate down at 1.26% in Romania in November.

Consumer prices in Romania went down by 0.2% MoM in November, as the prices for food and non-food products decreased by 0.3% and service tariffs increased by 0.2%. The annual inflation rate went down to 1.26% in November, from 1.44% the previous month. For the end of this year, the Central Bank BNR [...] >> mai mult >>

decembrie 12, 2014

AAF: Romanian investment funds’ assets, up by 3.4% in November.

The net assets of local investment funds increased by 3.4% in November this year, exceeding EUR 4bn, according to the Association of Asset Managers (AAF). (Source: Association of Asset Managers) [...] >> mai mult >>

decembrie 11, 2014

BANCA TRANSILVANIA (TLV RO): Horia Ciorcila, BT – BT will not need to raise capital after taking Volksbank.

Horia Ciorcila, president of Banca Transilvania (TLV) estimates that the bank will not need a capital increase for the acquisition of Volksbank, but even so shareholders have expressed firm commitment for possible funding. The transaction concerns the acquisition of 100% of the shares of the bank. [...] >> mai mult >>

decembrie 11, 2014

Government promises that next week will adopt the new regulations on capital market.

The government will adopt next week through an emergency ordinance the changes on the capital market legislation, stated on Wednesday the Minister for Budget, Daris Valcov. According to official sources, the draft bill will not consider the SIFs, which will be considered in a separate legal act. [...] >> mai mult >>

decembrie 11, 2014

SIF BANAT CRISANA (SIF1 RO): FSA urges SIF1 to appoint new Board members replacing Dragos Balteanu and El Lakis Najib following recent embezzlement allegations.

The Financial Supervisory Authority issued several decisions yesterday asking SIF1 management to convene the general shareholders assembly in 30 days time in order to appoint two new Board members replacing former Board members Dragos Balteanu and El Lakis Najib following recent embezzlement [...] >> mai mult >>

decembrie 11, 2014

SIF MOLDOVA (SIF2 RO): FSA urges SIF2 to appoint a new Board member replacing Andrei Hrebenciuc.

The Financial Supervisory Authority issued a decision yesterday asking SIF2 management to convene the general shareholders assembly in 30 days time in order to appoint one new Board members replacing former Board member  Andrei Hrebenciuc due to the extension of the preventive arrest. (Source: [...] >> mai mult >>

decembrie 3, 2014

FONDUL PROPRIETATEA (FP RO): FP buyback offer ended yesterday, 13.5 times oversubscribed.

The public offer to buy back 750m of its own shares (representing a 6.03% stake) was 13.5 times oversubscribed, meaning that shareholders subscribed to sell more than 10bn shares, representing 81% of the share capital, due to the high offer price of RON 1.11, c20% above the last closing price. The [...] >> mai mult >>

decembrie 3, 2014

ELECTRICA (EL RO): Electrica no longer invests in renewable energy.

Electrica distribution and supply group has given up its plan of becoming a renewable energy producer, a project started in 2010. Through this decision it will save RON 292m this year from its investment plan, reducing it by 50% from RON 989.2m to RON 457m. Electrica’s shareholders will [...] >> mai mult >>

decembrie 3, 2014

Romanian Government negotiates GDP deficit with the IMF.

The Government will negotiate with the IMF and European Commission (EC) experts a deficit of 2 to 2.1% of the GDP for 2015. The budget deficit target set for the next year is 1.4% of GDP, which corresponds to a structural deficit of 1% of GDP, which Romania has pledged to achieve by 2015. The [...] >> mai mult >>

decembrie 3, 2014

Banks in Romania to be reviewed in October 2015.

Banks in Romania will be subject to an asset quality review (AQR) most likely in October 2015, before entering the mechanism of cooperation with the European Central Bank (ECB), said Nicolae Cinteza, the director of the Supervision Department of the National Bank of Romania (BNR). (Source: [...] >> mai mult >>

decembrie 3, 2014

NBR: FX reserves stood at EUR 31,467m at end-November.

The gold stock remained unchanged at 103.7 tones. However, following the change in the international price of gold, its value amounted to EUR 3,171m. The international reserves of Romania (foreign currencies and gold) on November 30th 2014 stood at EUR 34,638m compared to EUR 35,327m on October 31st [...] >> mai mult >>

decembrie 2, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Bucharest Stock Exchange makes new corporate governance code.

The Bucharest Stock Exchange (BVB) will soon announce a new code of corporate governance which listed companies should comply with. According to Ludwik Sobolewski, general manager of BVB, the most important provisions of the Code will refer to the general policy to grant dividends, the level of [...] >> mai mult >>

decembrie 2, 2014

Romania to impose new royalty fees system for natural resources from 2016.

The current system of royalties for Romania’s natural resources will continue for another year and will be replaced by a new one starting January 1, 2016. The new royalty fees have been discussed with the International Monetary Fund (IMF), according to Petrescu. A draft law on the new taxation [...] >> mai mult >>

noiembrie 27, 2014

FONDUL PROPRIETATEA, ROMAERO (FP RO, RORX RO): Ministry of Economy and FP urgently require initiation of Romaero privatization.

Ministry of Economy, holding a 51.9% stake in Romaero alongside FP with a 21% stake, asked for the completion of the agenda of the general shareholders assembly on December 9 of the proposal to urgently start privatization procedures, arguing that it is the only solution to save the company from [...] >> mai mult >>

noiembrie 27, 2014

BANCA TRANSILVANIA (TLV RO): BT discusses the take over of Volksbank.

Banca Transilvania, is looking to consolidate its position and increase market share by buying one of the banks currently for sale in Romania, according to local and international media. According to sources cited by Bloomberg, the discussions with Volksbank, which has been put up for sale by its [...] >> mai mult >>

noiembrie 27, 2014

BRD-GSG, BANCA TRANSILVANIA (BRD RO, TLV RO): Banks in Romania to be directly supervised by ECB.

Representatives of Romania’s Central Bank BNR will begin discussions with experts from the European Central Bank ECB to establish the local banks that will be directly supervised by the European institution, Banca Comerciala Romana (BCR), BRD and Banca Transilvania being targeted first, [...] >> mai mult >>

noiembrie 27, 2014

SIF OLTENIA, SANTIERUL NAVAL ORSOVA (SIF5 RO, SNO RO): SIF5 increased its stake in SNO up to 17%.

SIF Oltenia bought 870,900 SNO shares representing a 7.6% stake in the vessels manufacturer, at the price of 2.5 lei per share, in total worth of RON 2.1m. Following this transaction, SIF5 increased its holdinh in SNO up to 17%. (Source: Santierul Naval Orsova) [...] >> mai mult >>

noiembrie 27, 2014

TURBOMECANICA (TBM RO): Turbomecanica sold a building in Bucharest worth RON 23m

TURBOMECANICA (TBM RO): Turbomecanica sold a building in Bucharest worth RON 23m (EUR 5.2m) in order to financially balance the company. (Source: Turbomecanica) >> mai mult >>

noiembrie 27, 2014

Gov’t to hold on to defense companies’ majority share packages.

The government will no longer give up its majority share packages within defense companies and will keep at least half of their registered capital after privatization. At the same time, the government emphasized that the strategic investors that will be chosen will have to have high technology and [...] >> mai mult >>

noiembrie 27, 2014

NSI: Lower investments bring 0.29% GDP budget surplus in Romania in October.

Romania’s budget was on a surplus in October, for the second consecutive month. The budget surplus increased from 0.06% of GDP in September to 0.29% of GDP in October, due to the cut of public investments compared to the first ten months of 2013. The Government has targeted for end of this [...] >> mai mult >>

noiembrie 27, 2014

NBR: Loans up by 0.3% in Romania in October, to EUR 48bn.

Household and corporate loans increased in October by 0.3% MoM to EUR 48bn, but stood down 3.3% YoY. Loans in local currency increased by 1% MoM and by 8.1% YoY to EUR 21bn, while FX loans were down by 0.2% MoM and down 10.6% YoY at EUR 27bn. Loans to individuals recorded an advance of 1.7% MoM [...] >> mai mult >>

noiembrie 26, 2014

ROMGAZ Medias (SNG RO): Romgaz sealed a RON 1.5bn deal with E.ON and GDF.

Romgaz signed several addendums worth RON 1.5bn to agreements serving both household and industry consumption. Romgaz will deliver GDF Suez gas worth RON 550m during Jan’15-Mar’16 and worth RON 424.8m during Jan-Sep’15. Romgaz will also deliver gas worth RON 600m to E.ON Energie. [...] >> mai mult >>

noiembrie 26, 2014

Media – Romanian Government could impose new tax to oil & gas companies.

According to media, in addition to the specific royalties in oil and gas sector, the tax on special construction and the 16% income tax applied to all companies in Romania, oil and gas producing companies could pay an extra tax applied on profits earned from upstream, exploration and production [...] >> mai mult >>

noiembrie 26, 2014

ZEW: Romania’s economic outlook has improved.

The financial analysts’ perception of Romania’s economic outlook over the next six months has improved slightly in November, from 20 points last month to 23.6 points, ranking third in Central and Eastern Europe in what concerns the economic outlook over the next six months, behind [...] >> mai mult >>

noiembrie 26, 2014

Finance Ministry raises 300 mln lei from commercial banks, at 2.93% yield.

The Ministry of Public Finance (MFP) borrowed on Monday RON 300m (EUR 67.6m) from commercial banks, in a 7-year bond issue at a yield of 2.93% and a residual maturity of 65 months. The Treasury borrows cheaper for this type of bonds, after having accepted in Sept. an average yield of 4.35%. The [...] >> mai mult >>

noiembrie 26, 2014

Romania’s draft budget for 2015 to be ready this week.

Darius Valcov, the Minister for Budget, recently said that the draft budget will be ready this Friday, November 28, adding that measures of fiscal relaxation are taken into account, even reducing the VAT rate. He stated that following negotiations with the IMF it is possible to reduce the VAT rate [...] >> mai mult >>

noiembrie 25, 2014

SIFs (SIF1 RO, SIF2 RO, SIF3 RO, SIF4 RO, SIF5 RO): Predoiu - SIFs must be unleashed by "thresholds".

Catalin Predoiu, first deputy of PNL party stated that the elimination of SIFs threshold is a problem unresolved for many years. In his opinion, the stock market is essential for the national economy. Recall that the Ministry of Finance proposed on October 7 the elimination of SIFs holding limit in [...] >> mai mult >>

noiembrie 25, 2014

SIF MOLDOVA, BROKER CLUJ (SIF2 RO, BRK RO): FSA approved the increase of SIF2 stake in Broker Cluj up to a 32.99% stake.

The Financial Supervisory Authority has approved the direct acquisition by SIF Moldova of up to a 32.99% stake of the share capital and voting rights in Broker Cluj (BRK RO). The opinion was given by FSA on SIF Moldova’s intention, in principle, to acquire the remaining stake up to 32.99%, [...] >> mai mult >>

noiembrie 25, 2014

NPC: GDP growth estimates revised up to 2.6% in Romania.

The National Prognosis Commission has revised the estimates on 2014 GDP growth from 2.5% as forecasted in May to 2.6% at EUR 151bn, while 2015 GDP growth was revised down to 2.5% from 2.6% previously, at EUR 159bn. For 2016 and 2017, the National Prognosis Commission maintains the May 2014 estimates [...] >> mai mult >>

noiembrie 25, 2014

NPC: Romania’s inflation revised down to 1.6% from 3.5%.

The National Prognosis Commission decreased their forecast of 2014 annual inflation from 3.5% in May to 1.6%, according to the ‘2014-2018 medium-term forecast’ document published by the Commission. The estimation of the average annual rate was also revised from 2.2% to 1.2%. The [...] >> mai mult >>

noiembrie 25, 2014

NAE: Romania’s unemployment rate reaches 5.31% in October.

The unemployment rate reached 5.31% in Romania in October, slightly up from September, according to the National Agency for Employment. The total number of unemployed registered by the local agencies for employment at the end of October was 463,629 people, 1,807 more compared to the previous month. [...] >> mai mult >>

noiembrie 24, 2014

New Europe Property Investments (NEPI RO): Accelerated book build for acquisitions.

NEPI announces an equity raising of approximately EUR 10m through share issue that will be completed as part of a vendor consideration placing approved by NEPI shareholders on Wednesday, 11 June 2014. The vendor consideration placing will be utilised to fund the recently announced acquisition of the [...] >> mai mult >>

noiembrie 24, 2014

Fiscal Council President, Ionut Dumitru: Romania needs to cover revenue deficit of up to EUR 3.8bn next year.

The government will have to cover a revenue deficit of EUR 3.3-3.8bn next year, that will come both from reducing the budget deficit and the legislative measures adopted in recent months. (Source: Romania-Insider.com) [...] >> mai mult >>

noiembrie 24, 2014

EY: Romania is still the third most attractive market in the region for foreign investments.

Romania is favoured by 9% of the respondents in this year’s survey, up by 2 percentage points compared to 2013, while Poland (31% vs. 37% in 2013) and Czech Republic (11% vs. 15% in 2013), which are still number one and two in the region have lost some of their attractiveness for foreign [...] >> mai mult >>

noiembrie 21, 2014

FONDUL PROPRIETATEA, SIFs (FP RO, SIFs): Grzegorz Konieczny, FP Manager – FP interested in SIFs if threshold is eliminated.

Romanian investment fund Fondul Proprietatea will consider entering the shareholders structure of the five regional investment funds (SIFs), after resuming investments, if the maximum ownership limit in SIF, which currently stands at 5%, is eliminated, FP manager Grzegorz Konieczny stated yesterday. [...] >> mai mult >>

noiembrie 21, 2014

Romanian Goverment to discuss VAT cut for food with the IMF.

VAT reduction for other food categories will be on the agenda of talks with the International Monetary Fund IMF in December, according to Daniel Botanoiu, Secretary of State in the Agriculture Ministry. A joint mission of the International Monetary Fund IMF and the European Commission EC will arrive [...] >> mai mult >>

noiembrie 21, 2014

Ministry of Finance: Yield for 3-year bonds in RON drops to 2.39%.

Romania’s Ministry of Finance borrowed on Thursday RON 500m (EUR 112m) from commercial banks at a yield of 2.39%, via a 3-year bond issue for which banks subscribed offers worth RON 1.33bn (EUR 300m). The treasury borrows cheaper for this type of bonds after it accepted an average yield of [...] >> mai mult >>

noiembrie 21, 2014

Eurostat: Romania registers highest growth in construction work in September.

Romania recorded the most important advance in construction work among the EU member states in September, compared to August, according to data provided by EU’s statistics office Eurostat. Among the member states, construction work had the most significant advance in Romania (7.9%), Czech [...] >> mai mult >>

noiembrie 18, 2014

BANCA TRANSILVANIA, BRD-GSG (TLV RO, BRD RO): The first two largest local banks’ balance of loans reduced by RON 7bn over last year.

BCR and BRD, the two largest local banks based on assets held, reduced their balance of loans by a total of RON 7bn (EUR 1.6bn) last year, due to the cleaning of the balance sheets of bad loans and to weak new loans sales. BCR reduced its balance of loans by 12% to RON 33.1bn, while BRD posted a 7% [...] >> mai mult >>

noiembrie 18, 2014

BANCA COMERCIALA CARPATICA (BCC RO): Carpatica to absorb Nextebank.

Management convenes shareholders on December 19 to approve the main terms and conditions of the firm tender received from Nextebank on November 14 regarding the merger by absorption by BCC. Small player in the banking system, with assets of EUR 240m ranking 30th with a 0.3% market share, Nextebank [...] >> mai mult >>

noiembrie 18, 2014

MFP borrows RON 200m from banks at 4.21% yield.

The Public Finance Ministry borrowed on Monday RON 200m from commercial banks, at a 4.21% yield, through a bond issue on 15 years, with a residual maturity in 152 months. The Treasury borrows cheaper compared to a yield of 4.35% achieved in September. (Source: NineOclock.ro) [...] >> mai mult >>

noiembrie 18, 2014

VRANCART Adjud (VNC RO): After a strong Q3’14, Vrancart posted a 9M’14 net profit of RON 4.0m, 77% higher YoY and 11.6% above our forecast, supported by increased revenues, improved margins and reduced net financial loss.

Despite flat revenues over the third quarter, 9M’14 revenues landed 6% higher YoY at RON 145.3m, slightly below our forecast at RON 150.2m. Backed by an improved cost structure, Q3’14 EBITDA landed 22% higher YoY at RON 8.5m, improving 9M’14 margin to 19% vs. 14% in 9M’13 and [...] >> mai mult >>

noiembrie 18, 2014

NUCLEARELECTRICA (SNN RO): Trimmed by lower revenues (-8.4% YoY) and depreciated margins, SNN’s 9M’14 net profit fell 68.2% YoY to RON 99.78m.

The lower selling prices of energy on the competitive electricity market (-19%) did not compensate the reduction of the quantity sold on the regulated market regulated (-29%), trimming total revenues. The EBITDA landed at RON 444.1m, down 33.3% YoY, with the margin deteriorating from 46.7% in [...] >> mai mult >>

noiembrie 17, 2014

Romanian presidential election victory for centre-right candidate Klaus Iohannis.

Victor Ponta the Romanian Prime Minister, conceded defeat in Romania's presidential race on Sunday after exit polls showed centre-right candidate Klaus Iohannis had staged a surprising comeback against the frontrunner. [...] >> mai mult >>

noiembrie 17, 2014

Romania’s Q3’14 GDP up 1.9% QoQ and +3.3% YoY (real terms); fastest quarterly economic growth in the EU.

Compared to the same quarter of 2013, gross domestic product grew by 3.2% on the gross series and by 3.3% in seasonally adjusted. In the first nine months of 2014, the GDP increased 2.8% YoY on the gross series and by 3.1% YoY in the adjusted series seasonality. Following the revised gross series [...] >> mai mult >>

noiembrie 17, 2014

Romania’s external debt drops in September.

Romania’s direct public external debt on the medium and long term decreased by EUR 97.5m (0.32%) MoM in September, to EUR 30.5bn. It is however higher by 2.4% than the level registered the previous year. The reduction came from lowering the level of loans granted to Romania by multilateral [...] >> mai mult >>

noiembrie 14, 2014

TRANSELECTRICA (TEL RO): TEL posted today an IFRS 9M’14 bottom line of RON 303m, 2.3x higher YoY and 3% above our forecast, supported by 15.7% higher revenues and significantly improved margins.

On top line, TEL posted revenues of RON 1.95bn, 15.7% higher YoY and in line with our forecast at RON 1.93bn, backed by 11% higher transport revenues of RON 939.6m, 25% higher YoY system services revenues of RON 557.3m and by 115 higher balancing market revenues of RON 410m. The EBITDA landed at RON [...] >> mai mult >>

noiembrie 13, 2014

SNG RO: 40% higher 9M'14 net profit of RON 1.11bn on 10.9% higher revenues and improved EBITDA margin at 60%.

Supported by strong third quarter numbers, ROMGAZ Medias (SNG RO) reported yesterday evening 9M'14 IFRS set of results posting a 40% higher net profit of RON 1.11bn (4.1% above forecast at RON 1.07bn) amid 27% higher revenues YoY worth RON 3.28bn (in line with forecast at RON 3.3bn) and improved [...] >> mai mult >>

noiembrie 13, 2014

TRANSGAZ Medias (TGN RO): 9M’14 IFRS bottom line of RON 374m, 2.3x higher YoY and 2% above our forecast

TRANSGAZ Medias (TGN RO): Transgaz published yesterday evening IFRS 9M’14 numbers posting a bottom line of RON 374m, 2.3x higher YoY and 2% above our forecast, supported by higher topline and slightly improved margins. At first sight, posted results land in line with our forecast both on top [...] >> mai mult >>

noiembrie 13, 2014

FONDUL PROPRIETATEA (FP RO): FP completed the sale of ‎2,047,095 shares in Conpet S.A through an accelerated bookbuild offering.

FP sold 2,047,095 shares held in Conpet at a price of RON 48.75 per share, 5.33% below yesterday’s closing price. Following the completion of the transaction, the Fund will own 524,366 shares in Conpet,  corresponding to a 6.1% stake. (Source: Fondul Proprietatea) [...] >> mai mult >>

noiembrie 13, 2014

FONDUL PROPRIETATEA (FP RO): October NAVS down 3% MoM tO 1.2068 RON (+4.3% YoY).

FONDUL PROPRIETATEA (FP RO): October NAVS down 3% MoM tO 1.2068 RON (+4.3% YoY). (Source: FP) >> mai mult >>

noiembrie 13, 2014

OMV PETROM (SNP RO): OMV Petrom invests EUR 30m for the redevelopment of Tazlau oil field.

OMV Petrom announced the implementation of the redevelopment project of Tazlau oil field, located in the North-eastern part of Romania, in Bacau County. The project envisages investments of around EUR 30m during 2014 – 2015. Tazlau is a mature oil field, producing for more than 60 years, with [...] >> mai mult >>

noiembrie 12, 2014

FONDUL PROPRIETATEA (FP RO): FP to sell up to ‎2,047,095 existing shares in Conpet S.A through an accelerated bookbuild offering.

The Placing Shares represent 23.6% of the total number of shares issued by the Company and will be sold via an accelerated bookbuild offering addressed to certain persons as detailed below. The bookbuild will commence immediately and the price per Placing Share will be determined on completion of [...] >> mai mult >>

noiembrie 12, 2014

BANCA TRANSILVANIA (TLV RO): International Finance Corporation (IFC) holds a 5.36% stake in TLV.

The International Finance Corporation (IFC) increased its stake from 3.54% up to 5.36% through bond conversion on November 7th. IFC got an additional 1.8% in the bank after converting EUR 20m worth of Banca Transilvania bonds into shares. The IFC had bought the bonds in 2013, when Banca Transilvania [...] >> mai mult >>

noiembrie 12, 2014

NSI: Romania records lower annual inflation rate in October.

Consumer prices in Romania went up by 0.2% MoM in October, according to data from the INS. The annual inflation rate went down to 1.44%, after it climbed to 1.54% in September. The inflation rate is however higher than the one registered in August – 0.85%. In October, food prices increased by [...] >> mai mult >>

noiembrie 11, 2014

Ludwik Sobolewski, CEO of Bucharest Stock Exchange (BVB RO): We expect 20-30 RASDAQ companies on the main market or the alternative trading system Aero.

According to Bucharest Stock Exchange CEO Ludwik Sobolewski, a number of 30 companies from a total of over 900 companies listed on RASDAQ market segment that will dissolve in a year’s time are interesting targets for an eventual transfer to the main market or the alternative trading system [...] >> mai mult >>

noiembrie 11, 2014

NSI: Romania’s exports reach new record high in September.

Romania’s exports increased by 10.2% in September 2014, compared to September 2013, to EUR 4.9bn, a new record high. Imports also grew by 10.7% in September, to almost EUR 5.4bn. In the first nine months of this year, exports were up by 7.1% YoY, in euro, at EUR 39.1bn, while imports amounted [...] >> mai mult >>

noiembrie 11, 2014

NSI: Gas imports, down 65.5% in first nine months of 2014.

Romania imported, in the first nine months of this year, usable natural gas of 334,100 tonnes of oil equivalent (toe), down by 65.5% or 633,300 toe from the similar period of 2013. The domestic natural gas production totaled, from January to September 2014, over 6.462 million toe, up 0.6% YoY. [...] >> mai mult >>

noiembrie 11, 2014

Finance Ministry borrows RON 1bn at record low cost.

The Public Finance Ministry has borrowed RON 1bn on Monday by selling 12-month treasury certificates, the cost being the lowest so far for operations that feature this maturity. The average yield has dropped to 1.63%, a new record low for financial instruments with 12-month maturity. Previously, the [...] >> mai mult >>

noiembrie 10, 2014

World Bank: capital markets, key-element for Romania’s sustainable economic growth.

Romania must develop stronger and more liquid financial markets to support economic growth, World Bank experts said told a conference on capital markets, held in Bucharest. Some thirty representatives of the banking sector, regulatory agencies, pension funds, and of the Government attended this [...] >> mai mult >>

noiembrie 10, 2014

NSI: Romania’s industry turnover up 8.9% in first nine months.

The Romanian industrial turnover in the first nine months, for both domestic and foreign markets, increased by 8.9%, supported mainly by the manufacturing industry (+9%) and the mining and quarrying sector (+7.6%). On main industrial groups, increases were registered in all sectors: energy industry [...] >> mai mult >>

noiembrie 7, 2014

BUCHAREST STOCK EXCHANGE (BVB RO): BVB ups 9M’14 profit by 71% YoY to EUR 2.1m supported by 39% higher revenues YoY of EUR 4.26m.

The total value of stock trading was some EUR 2.3bn, 56% higher YoY, including the electricity distributor Electrica’s EUR 444m IPO, in the second quarter of 2014. Overall, Posted results landed at RON 9.3m, up 71% YoY and 35% above our forecast, mainly supported by 14% higher than assumed [...] >> mai mult >>

noiembrie 7, 2014

Romanian Minister: Draft budget ready in January for next IMF visit.

Romania’s draft budget will only be available in mid-January, when the next visit of the International Monetary Fund (IMF) is scheduled, but talks on the budget with IMF technical experts will start next month, according to the Romanian Minister of Finance, Ioana Petrescu. An evaluation [...] >> mai mult >>

noiembrie 5, 2014

OMV PETROM (SNP RO): EUR 2 mn investments for energy efficiency increase in Petrom filling stations.

OMV Petrom replaced the conventional lighting systems in 345 Petrom filling stations with a new LED based system (light emitting diode), following a EUR 2.1 mn investment. The supplier, namely the company Electromagnetica, was selected following an international tender performed earlier this year. [...] >> mai mult >>

noiembrie 5, 2014

NBR cuts the monetary policy rate to 2.75%, in line with expectations.

The Board of the National Bank of Romania decided yesterday to lower the monetary policy rate to 2.75% per annum from 3.00% starting with 5 November 2014. In terms of minimum reserve requirements ratio, FX-denominated liabilities reserves were lowered to 14% from 16% starting with 24 Nov – 23 [...] >> mai mult >>

noiembrie 5, 2014

European Commission slashes economic growth estimates for Romania.

The European Commission (EC) significantly reduced its growth forecast for Romania’s economy for 2014 and 2015, after lower than expected GDP growth in the first half of this year, according to the commission’s autumn forecast, published on November 4. The European Commission cut [...] >> mai mult >>

noiembrie 4, 2014

FONDUL PROPRIETATEA (FP RO): The Central Depository registered the new values of FP’s share capital beginning with 28 October 2014.

According to the new securities registration certificate issued by the Financial Supervisory Authority on 27 October 2014, following the share capital reduction approved by Shareholders’ Resolution no. 7/28 April 2014, the new value of the Fund’s subscribed share capital is RON 11.81bn [...] >> mai mult >>

noiembrie 4, 2014

BUCHAREST STOCK EXCHANGE (BVB RO): Bucharest Stock Exchange to reclassify listed companies, changes reporting rules.

BVB, the operator of the Romanian capital market, will reclassify listed companies by replacing the current 1st, 2nd and 3rd tier with two new ones, Premium and Standard. The free-float market value for issuers that wish their shares to be admitted to the Premium tier will have to equal at least EUR [...] >> mai mult >>

noiembrie 4, 2014

NBR expected to make new interest rate cut.

Romania’s National Bank (BNR) could reduce the monetary policy interest rate by 0.25 percentage points, on Tuesday, November 4, to a new all-time low of 2.75%, according to the Association of Financial-Banking Analysts in Romania (AAFBR). The local analysts expect the monetary easing to [...] >> mai mult >>

noiembrie 4, 2014

NBR: Romania’s foreign currency reserves increase by EUR 1.15 bln in October.

Romania’s FX reserves were up by EUR 1.15bn in October, to EUR 32.2bn at the end of the month, with inflows of EUR 2.34bn, of which EUR 1.5bn came from the Finance Ministry’s international Eurobond issue, and outflows of EUR 1.19bn, including a EUR 226m payment on Romania’s debt to [...] >> mai mult >>

noiembrie 4, 2014

NSI: Romania’s retail trade continues recovery.

Romania’s retail trade turnover, except trade of motor vehicles and motorcycles, grew by 6.1% MoM in September 2014. The increase came mainly from the food, beverages and tobacco segment, up 9.1%, non-food retail increased by 5.1%, while car fuel retail in specialized stores was down 4.9% YoY. [...] >> mai mult >>

noiembrie 3, 2014

FONDUL PROPRIETATEA (FP RO): London listing in December for Romania’s Fondul Proprietatea.

FP aims for a secondary public listing in London in December, and hopes to receive the ok from its shareholders for another share buyback, stated Greg Konieczny, fund manager and executive vice-president of Templeton Emerging Markets Group. Preparations for the secondary listing are ongoing, as in [...] >> mai mult >>

noiembrie 3, 2014

ELECTRICA (EL RO): MSCI to update the frontier markets indices – hopes that Electrica will be added.

The local capital market hopes that Electrica shares will be included to the MSCI frontier markets index. Currently, five companies listed on the Bucharest Stock Exchange are included in the MSCI Frontier Markets 100: Petrom, Romgaz, BRD, Banca Transilvania and Transgaz. Electrica has a market [...] >> mai mult >>

octombrie 31, 2014

BANCA COMERCIALA CARPATICA (BCC RO): 9M’14 net loss of RON 21.7m vs. a profit of RON 19.3m in 9M’13, burdened by 2.2x higher net cost of risk of RON 54.6m.

NII almost flat down 1% YoY at RON 52.96m while net fee and commission dropped 13% YoY to RON 18.6m, triming the core line by 4.6% YoY to RON 71.5m. Flat opex YoY led to a pre-provision profit of RON 35.5m, down 10% YoY. Bottom line was further on burdened by the more than double YoY cost of risk [...] >> mai mult >>

octombrie 30, 2014

TLV RO: 9M’14 unconsolidated IFRS bottom line of RON 382m, up 41% YoY, despite 58% higher net cost of risk.

TLV posted today 9M’14 unconsolidated IFRS set of results posting a bottom line of RON 338m, up 41% YoY and 11% below our forecast at RON 378m mainly on 13% higher than expected net cost of risk of RON 442m (+58% YoY) compared to RON 392m in our numbers. Core income landed 8% higher YoY at RON [...] >> mai mult >>

octombrie 30, 2014

ANRE: Gas market liberalization for non-household consumers.

ANRE informs that regulated prices on the natural gas market for non-household consumers will be completely eliminated at the start of next year, and consumers will have to negotiate new prices with their suppliers by December 31, 2014. For household consumers full liberalization was scheduled on 31 [...] >> mai mult >>

octombrie 29, 2014

FONDUL PROPRIETATEA (FP RO): FSA approved the Public Tender Offer and a purchase price of RON 1.11 per share.

Recall that the fund targets to repurchase 750m shares representing 6.0303% of the share capital during 3rd November – 2nd December this year. The allocation method will be pro-rata. This offer is part of the 4th buy-back program that targets the acquisition of a number of 990.85m shares. [...] >> mai mult >>

octombrie 29, 2014

FONDUL PROPRIETATEA (FP RO): FSA issued yesterday the new securities registration certificate.

In accordance with the said securities registration certificate, the new values of the Fund’s share capital are: subscribed share capital of RON 11.815bn (representing 12.437bn shares), paid share capital of RON 11.469bn, share par value of RON 0.95 and a number of unpaid shares of 363.8m. The [...] >> mai mult >>

octombrie 28, 2014

ELECTROMAGNETICA (ELMA RO): Electromagnetica targets new export markets for its LED-lighting systems.

According to company’s general manager Eugen Scheusan, Electromagnetica has recently entered new foreign markets and aims at expanding its exports of LED-lighting systems to Morocco, France, Spain, Germany and Columbia. Electromagnetica is the biggest Romanian manufacturer of LED-lighting [...] >> mai mult >>

octombrie 28, 2014

Romania’s 9-month consoloidated budget turns to surplus of 0.06% of GDP.

Romania’s government budget turned to surplus at the end of September, as spending took a dive in the first nine months, mainly due to lower allocations for public investments. (Source: ZF.ro) [...] >> mai mult >>

octombrie 28, 2014

Romania sold debt worth RON 1.3bn at record low yields.

Romania’s Finance Ministry sold debt worth a planned RON 1.3bn (EUR 294m) in short-term notes at two auctions Monday, with the yields falling to record lows amid high demand. (Source: ZF.ro) [...] >> mai mult >>

octombrie 27, 2014

BRD-GSG, BANCA TRANSILVANIA, ERSTE GROUP BANK (BRD RO, TLV RO, EBS RO): 25 banks failed the ECB stress test with a shortfall of EUR 25bn.

The European Central Bank and the European Banking Authority unveiled on Sunday the results of a nearly yearlong effort to assess the finances of 150 banks, identifying 12 that still need to come up with a total of EUR 9.5bn in extra capital. A total of 25 banks technically flunked the stress tests, [...] >> mai mult >>

octombrie 27, 2014

FONDUL PROPRIETATEA (FP RO): FP’s new paid-up share capital at RON 11.46bn, while the subscribed share capital remains unchanged at RON 11.81bn.

The change is a result of the off-set between the value of the Romanian State’s outstanding debt related to unpaid share capital towards the Fund and the value of newly received shares by the Fund from the Romanian State in Hidroelectrica SA; 134 shares were received by the Fund therein with [...] >> mai mult >>

octombrie 27, 2014

OMV PETROM (SNP RO): ExxonMobil and OMV Petrom explore new prospect on Neptun block offshore Romania.

ExxonMobil Exploration and Production Romania and OMV Petrom have started drilling the Pelican South-1 exploration well on a new prospect in the Neptun Block, about 155 kilometers offshore in the Romanian sector of the Black Sea. Recall that earlier in October, the Ocean Endeavour rig completed [...] >> mai mult >>

octombrie 24, 2014

Foreign direct investment stock rose by 22% or EUR11.1 billion to almost EUR60 billion between 2008 and 2013.

Foreign direct investment stock rose by 22% or EUR11.1 billion to almost EUR60 billion between 2008 and 2013, despite a very low growth rate last year. (Source: ZF) >> mai mult >>

octombrie 24, 2014

Romanian electric and electronic equipment maker Electromagnetica Bucuresti (ELMA RO) seeks to expand its LED lighting fixture exports.

Romanian electric and electronic equipment maker Electromagnetica Bucuresti (ELMA RO) seeks to expand its LED lighting fixture exports to countries in Europe, Africa and South America, company general manager Eugen Scheusan said Thursday.(Source: ZF) >> mai mult >>

octombrie 23, 2014

Airbus Helicopters, part of European multinational aerospace and defense corporation Airbus, asked IAR Ghimbav (IARV RO) for an additional 1.2-hectare land plot.

Airbus Helicopters, part of European multinational aerospace and defense corporation Airbus, asked IAR Ghimbav (IARV RO) for an additional 1.2-hectare land plot, beside the 1.5-hectare plot already approved, to develop the manufacturing of Super Puma MK1 helicopters in Brasov (central Romania). [...] >> mai mult >>

octombrie 23, 2014

South-African investment fund New Europe Property Investment (NEP RO) has raised around EUR100 million in a capital hike.

South-African investment fund New Europe Property Investment (NEP RO) has raised around EUR100 million in a capital hike and has closed its book build launched earlier Wednesday. (Source: BSE) >> mai mult >>

octombrie 23, 2014

Romanian lender Banca Transilvania (TLV RO) will receive EUR150 million from the European Investment Bank (EIB).

Romanian lender Banca Transilvania (TLV RO) will receive EUR150 million from the European Investment Bank (EIB) to finance projects carried out by small- and medium-sized enterprises (SMEs), companies with average market capitalization and public entities in Romania. (Source: ZF) >> mai mult >>

octombrie 22, 2014

SNN RO: Prices will continue to fall next year and the scary part is consumers’ lack of appetite for long-term contracts.

SNN RO: Prices will continue to fall next year and the scary part is consumers’ lack of appetite for long-term contracts, says Daniela Lulache, general manager of Nuclearelectrica (SNN RO), the company that generates 20% of Romania’s energy. >> mai mult >>

octombrie 22, 2014

Romanian vegetable oil producer Argus Constanta (UARG RO), controlled by regional investment fund SIF Oltenia (SIF5 RO) registered a turnover of 110.74 million lei (EUR24.9 million) in January-September 2014.

Romanian vegetable oil producer Argus Constanta (UARG RO), controlled by regional investment fund SIF Oltenia (SIF5 RO) registered a turnover of 110.74 million lei (EUR24.9 million) in January-September 2014, up 2.6% from RON107.9 million in the year-earlier period.(Source: ZF) >> mai mult >>

octombrie 22, 2014

Romania raised 1.5 billion euros in ten-year Eurobond at a record low yield.

Romania raised 1.5 billion euros in ten-year Eurobond at a record low yield, in the country’s third debt sale on international market in 2014. (Source: NBR) >> mai mult >>

octombrie 22, 2014

Austria’s OMV said in a trading statement Monday, that Romanian leading oil and gas company OMV Petrom (SNP RO) reported a 22.7% decline in natural gas and power sales.

Austria’s OMV said in a trading statement Monday, that Romanian leading oil and gas company OMV Petrom (SNP RO) reported a 22.7% decline in natural gas and power sales volumes to 8.68 Terawatts per hour in the third quarter.(Source: ZF) >> mai mult >>

octombrie 22, 2014

Romania sells RON300M in 5-Year Bonds, at 3.1% average yield.

Romania’s Finance Ministry Monday raised a planned 300 million lei (EUR68 million) in a reopening of a five-year bond due June 2019, at an average yield of 3.09% a year, lower than at previous auction.(Source: ZF) >> mai mult >>

octombrie 22, 2014

Transelectrica (TEL RO) will consider connecting the national power grid with the electrical power networks of the Republic of Moldova and Ukraine.

Transelectrica (TEL RO) will consider connecting the national power grid with the electrical power networks of the Republic of Moldova and Ukraine, a project that would open up new export markets for Romania’s energy producers and suppliers. For the national power grid operator, the rising [...] >> mai mult >>

octombrie 22, 2014

Franklin Templeton Investment Management Ltd. in its capacity as Sole Administrator and Fund Manager of Fondul Proprietatea SA (“the Fund”), announced shareholders that yesterday it has submitted for approval to the Financial Supervisory Authority (th

For this offer, the Fund intends to repurchase 750,000,000 shares from its shareholders. Full details of the offer will be announced after receiving the approval from the FSA, which should take place within 10 business days according to the regulations in force. (Source: BSE) >> mai mult >>

octombrie 20, 2014

Romania registered the fourth largest increase in new car registrations in the European Union, of 25.5%.

Romania registered the fourth largest increase in new car registrations in the European Union, of 25.5%, in the first nine months of 2014, and Dacia saw the third highest growth, of 29.2%, to 273,743 units, according to data released Friday by the European Automobile Manufacturers Association. [...] >> mai mult >>

octombrie 20, 2014

Romanian state-run nuclear energy producer Nuclearelectrica (SNN RO) selected China General Nuclear Power Corporation, or CGN, for a joint investment in two new reactors at power plant in Cernavoda.

(Source: BSE) >> mai mult >>

octombrie 20, 2014

Standard & Poor's Ratings Services on Friday affirmed its long and short-term foreign and local currency sovereign credit ratings on Romania at 'BBB/A-3', while the outlook is stable.

(Source: ZF) >> mai mult >>

octombrie 16, 2014

FONDUL PROPRIETATEA (FP RO): September NAVS down 1.6% MoM at 1.24389 RON (+7.1% YoY).

FONDUL PROPRIETATEA (FP RO): September NAVS down 1.6% MoM at 1.24389 RON (+7.1% YoY). (Source: FP) >> mai mult >>

octombrie 16, 2014

ELECTRICA (EL RO): Former CEO of Bucharest Stock Exchange to lead Romania’s Electrica board.

Victor Cionga, the former CEO of the Bucharest Stock Exchange (BVB), is the new board president for electricity distribution company Electrica, with a mandate until January 2016, the company announced. Electrica board also includes Victor Vlad Grigorescu, Cristian Buşu, Arielle Malard de Rothschild [...] >> mai mult >>

octombrie 15, 2014

NUCLEARELECTRICA (SNN RO): SNN auctions energy sales worth over EUR 42m on OPCOM.

Nuclearelectrica auctions on October 21-22 a number of 29 contracts of electricity in total worth of RON 185.3m. The contracts are either for entire 2015 or for the first 4 month in 2015, with a starting price of RON 165.5 per MWh. The company is trying to sell 10% of the entire anual production. [...] >> mai mult >>

octombrie 15, 2014

Eurostat: EU industrial production drops 1.4% MoM in August.

Among member states, the steepest industrial production drops were registered by Hungary (-5.8%), Germany (-4.3%), Croatia (-4.1%), Czech Republic (-3.6%), Lithuania (-3.5%) and Romania (-2.7%). In the Euro Area industrial production registered a contraction of 1.8%, higher than expected. Due to a [...] >> mai mult >>

octombrie 15, 2014

NBR: Foreign direct investments in Romania, up by 27% in the first eight months.

Foreign direct investments (FDI) in Romania increased by 27% in the first eight months of this year, to EUR 1.42bn. In the same period of 2012, FDI were just EUR 1.12bn. In 2013, the value of foreign direct investments was EUR 2.71bn, 27% higher than in 2012, which was the first recovery since the [...] >> mai mult >>

octombrie 14, 2014

Private pension funds managing EUR 4.25bn worth of assets.

The Romanian-based private pension funds are managing EUR 4.25bn worth of assets, with 94% of the investments being made in Romania, according to end-Sept. figures unveiled by leading officials of the Association for the Privately Managed Pensions in Romania. Around 75-80% of the portfolio structure [...] >> mai mult >>

octombrie 13, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 23.8m own shares in the 4th buy-back program worth RON 22.6m.

Fondul Proprietatea repurchased up to date 23.8m shares worth RON 22.6m during 1-9 October (2.41% of 4th buy-back program started on October 1st) at an average price of RON 0.9496 per share, ranging between a minimum of 0.9402 RON and a maximum of 0.9556 RON per share. The 4th buy-back program [...] >> mai mult >>

octombrie 13, 2014

NSI: Romania’s export growth cools down, imports decline in August.

Romania’s exports gained only 0.9% MoM in August 2014, after showing robust growth in the first seven months. Imports were down by 3.9% YoY, showing the first monthly decline in one year. The value of exports in August was EUR 3.86bn, while the value of imports was EUR 4.32bn, with a [...] >> mai mult >>

octombrie 13, 2014

NSI: Romania’s annual inflation rate rises in September.

Consumer prices in Romania rose by 0.12% MoM in September, while the annual inflation rate increased to 1.54%, as food prices food went up by 0.2% and prices for non-food items and for services climbed 0.1% each. In August, Romania’s inflation rate stood at 0.85%, down from 0.95% in July, but [...] >> mai mult >>

octombrie 10, 2014

NUCLEARELECTRICA (SNN RO): Energy Department - EC could finance reactors 3 and 4 at Cernavoda Nuclear Plant.

After Great Britain recently obtained the EC’s approval for the construction of a new nuclear power plant, Mr. Razvan Nicolescu, the head of the Energy Department, is optimistic that Romania could benefit from similar support in the case of reactors 3 and 4 of the Cernavoda nuclear power [...] >> mai mult >>

octombrie 10, 2014

BURSA DE VALORI BUCURESTI (BVB RO): AeRo, BVB's start-up trading system, awaits for FSA approval.

Minimum listing criteria are free-float of at least 10% or 30 shareholders and an anticipated market cap of EUR 0.25m. BSE management is planning to launch the alternative trading system by year end along with an IPO on this market segment. (Source: ZF.ro) >> mai mult >>

octombrie 9, 2014

Romania has six months to get on the MSCI short list for emerging country status.

Romania is currently frontier market according to MSCI standards, and is working to meet several qualitative and quantitative criteria in order to get on the short list of candidates for promotion to the emerging market category. The first term for the short-list inclusion is June 2015. Main [...] >> mai mult >>

octombrie 9, 2014

FONDUL PROPRIETATEA (FP RO): Shareholders structure as of September 30.

Romanian private individuals’ holding increased from 19.64% of the paid-up share capital at end-August to 21.23%, foreign individuals slightly increased their holding from 5.52% to 5.61%, foreign institutional investors own 60.66% (55.37% at end-August) and Romanian institutional investors [...] >> mai mult >>

octombrie 9, 2014

NSI: 2.6% GDP growth in the first half of 2014.

The National Institute for Statistics (INS) upgraded its outlook of the Romanian economic development in the second quarter of this year as compared to the first quarter, to -0.9% up from -1.0%, while the half-yearly and year-over-year increases remained unchanged from the previous outlook, at +1.5% [...] >> mai mult >>

octombrie 9, 2014

NBR: Romanian banking sector can resist financing withdrawal.

Romania’s banking sector has the capacity to withstand a moderate to high shock in case of financing withdrawal by foreign banks, determined by a worsening conflict in Ukraine, according to the most recent Romania’s National Bank financial stability report. The banking sector has enough [...] >> mai mult >>

octombrie 8, 2014

IMF revises to 2.4% estimates on Romanian economy’s growth in 2014.

The International Monetary Fund (IMF) has revised up to 2.4% its estimates on Romania’s GDP growth this year, according to the World Economic Outlook report published on Tuesday, October 7. In the previous report published in spring, the IMF estimated an economic growth of 2.2% for Romania. On [...] >> mai mult >>

octombrie 8, 2014

PM, Victor Ponta: Large companies to be floated on BVB in 2015.

In 2015 the government plans to continue the action of floating large state-owned companies on the Bucharest Stock Exchange (BVB). Hidroelectrica, Aerorporturi Bucharest, Oltenia Energy Company and Constanta Port are being considered, among others. Ponta also pointed out that he knows the request [...] >> mai mult >>

octombrie 7, 2014

SIFs, BVB (SIF1 RO, SIF2 RO, SIF3 RO, SIF4 RO, SIF5 RO, BVB RO): Ministry of Finance drafts law to eliminate SIFs threshold and to increase market operator (BVB) threshold.

The Ministry of Finance published the draft law amending and supplementing the Law no.297/2004 regarding the capital market. Main point refers to increasing the threshold shareholding issued by market operators and eliminating the shareholding thresholds issued by SIFs with positive effects for the [...] >> mai mult >>

octombrie 6, 2014

Starting with today, T+2 settlement cycle on the Romanian capital market.

Starting with today all trades executed on the Romanian capital market, settled so far on T+3, will be settled on T+2, as in all other markets in Central-Eastern Europe and in almost all countries and markets of the European Union. (Source: Bucharest Stock Exchange) [...] >> mai mult >>

octombrie 6, 2014

TRANSELECTRICA Bucuresti (TEL RO): Transelectrica sued the National Agency for Energy Regulation (ANRE) for small tariffs.

Transelectrica opened a case against ANRE, accusing the institution that by setting a tariff too low for the transportation of energy will cause a loss of RON 138.4m over the next five years. Although tariffs increased from 21.16 RON/MWh in 2013 to 22.16 RON/MWh starting with January 2014 and to [...] >> mai mult >>

octombrie 3, 2014

ANTIBIOTICE Iasi (ATB RO): Antibiotice will start paying 2013 gross dividend of 0.02302729 RON per share on October 15th.

ANTIBIOTICE Iasi (ATB RO): Antibiotice will start paying 2013 gross dividend of 0.02302729 RON per share on October 15th. (Source: Antibiotice) >> mai mult >>

octombrie 3, 2014

TRANSELECTRICA (TEL RO): Romania’s electricity exports reach new record highs.

According to Transelectrica Romania’s electricity exports in the first nine months were at 5TWh. Romania has recorded its largest electricity exports ever in the first nine months of this year, as floods in spring affected the power producing capacities of neighboring countries. (Source: [...] >> mai mult >>

octombrie 3, 2014

NUCLEARELECTRICA (SNN RO): Nuclearelectrica signed a RON 91m with General Electric to replace a control system.

NUCLEARELECTRICA (SNN RO): Nuclearelectrica signed a RON 91m with General Electric to replace a control system. (Source: Nuclearelectrica) >> mai mult >>

octombrie 3, 2014

CONDMAG Brasov (COMI RO): The new CEO has the mandate to restructure the company.

Claudiu Muresan, the new CEO of producer gas pipelines Condmag has the mandate to restructure the company and to orientate the business towards export. (Source: Condmag) [...] >> mai mult >>

octombrie 3, 2014

Ministry of Finance: Romania plans to issue RON 3.95bn (EUR 791.2m) of debt paper in October.

Ministry of Finance: Romania plans to issue RON 3.95bn (EUR 791.2m) of debt paper in October. (Source: Ministry of Finance) >> mai mult >>

octombrie 3, 2014

NSI: Romania’s retail turnover up 7.6% in eight months.

Romania’s retail turnover, except trade of motor vehicles and motorcycles, , increased by 7.6% in the first eight months of 2014 in gross series, compared to the same period in 2013, according to recent data from the country’s Statistics Institute INS. When compared to August 2013, the [...] >> mai mult >>

octombrie 2, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Impact buys EUR 9.0m land plots.

Romanian real estate company Impact Developer & Contractor stated it has paid EUR 9.0m to acquire a third of five land plots with a total area of 78,970 square metres located in Bucharest. The company used funds from a recent share capital increase to finance the acquisition. (Source: Impact) [...] >> mai mult >>

octombrie 2, 2014

ALRO Slatina (ALR RO): Management convenes O&E shareholders’ meeting on 6 November.

The main points on the agenda are the ellection of 2 new BoD members and change of 2014 Investment plan. Registration date was set 24 October. (Source: Alro) [...] >> mai mult >>

octombrie 2, 2014

Romanian Parliament voted to close down OTC market Rasdaq.

Romania's parliament has approved a draft law to close down the over-the-counter market Rasdaq, the unregulated market segment of the local Stock Exchange. The 928 companies currently traded on Rasdaq with a total marketcap of RON 7.5bn will have 3 options within next 12 months: transfer to the [...] >> mai mult >>

octombrie 2, 2014

NBR: Central Bank’s foreign exchange reserves up in September.

The foreign exchange reserves held by Romania’s National Bank stood at EUR 31.06bn at end-September, up from EUR 30.87bn at end-August. During September, the bank received over EUR 1.4bn inflows, representing changes in the foreign exchange reserve requirements of credit institutions, inflows [...] >> mai mult >>

octombrie 1, 2014

FONDUL PROPRIETATEA (FP RO): Fourth buy-back programme to start today, October 1st.

The programme refers to the acquisition by Fondul Proprietatea SA of a maximum number of 990,855,616 shares at a minimum value of RON 0.2 per share and a maximum one of RON 2 per share. The buy-back programme shall unfold during the following 18 months starting with the date the EGM Resolution [...] >> mai mult >>

octombrie 1, 2014

NBR: Central bank cut monetary policy interest rate to new low at 3%.

Romania’s National Bank continued the monetary policy easing and reduced the interest rate for Romanian currency from 3.25% to 3%, starting today October 1st, 2014. BNR took this decision as the inflation rate remains close to historic lows, while economic growth saw a significant slowdown, [...] >> mai mult >>

octombrie 1, 2014

NBR: Net FDI in Romania up 26.8% to EUR 2.712bn in 2013.

Net foreign direct investment (FDI) in Romania grew to EUR 2.712bn last year from EUR 2.138bn in 2012. The central bank revised the 2013 FDI figure slightly down from the 2.713 billion euro announced in February. Net credit received from foreign investors amounted to [...] >> mai mult >>

octombrie 1, 2014

Romanian government revised budget, keeps 2.2% GDP deficit target.

Romania's government approved on Tuesday a second budget revision, leaving the deficit target unchanged at 2.2% of the GDP projected for this year, Prime Minister Victor Ponta said. Under the revision, the government covered the RON 830m shortfall estimated to occur once a 5.0 [...] >> mai mult >>

septembrie 30, 2014

FONDUL PROPRIETATEA (FP RO): FSA endorsed the subscribed share capital decrease.

The Financial Supervisory Authority (FSA) endorsed the decrease of the subscribed share capital from RON 12.86bn to RON 11.81bn following the cancellation of 1.1bn treasury shares acquired by the Fund during the second buy-back programme back in 2013. The share capital decrease is effective [...] >> mai mult >>

septembrie 30, 2014

OMV PETROM ROMGAZ TRANSGAZ (SNP RO, SNG RO, TGN RO): Romania’s new royalties for oil and gas to be debated in 2015.

New royalties for the oil and gas sector in Romania will go under debate at the beginning of next year. The new royalties system should ensure budget revenues close to the European average for the sector, but will not discourage investments, Prime Minister Victor Ponta stated. The project is [...] >> mai mult >>

septembrie 30, 2014

TRANSELECTRICA (TEL RO): TEL signed a EUR 29.4m deal for substation upgrade.

Transelectrica signed a contract worth EUR 29.4m, value added tax excluded, for the upgrade of a 400/220/110/20 kV substation located in the southern town of Bradu. Upgrade works should be completed in 2018. (Source: Transelectrica) [...] >> mai mult >>

septembrie 30, 2014

ANTIBIOTICE Iasi (ATB RO): Production of pharmaceutical drugs has the potential to reach EUR 1bn.

According to Ioan Nani, general manager Antibiotice Iasi, the Romanian pharmaceutical industry’s production currently stands at EUR 600-650m, while the production capacity of the top 4 or 5 Romanian producers is at least 40% higher and could reach EUR 1bn. However, the main downside is [...] >> mai mult >>

septembrie 30, 2014

AAFBR: Romania c-bank seen cutting key rate to 3.0%.

According to a poll realized by the local Association of Financial and Banking Analysts, AAFBR, Romania’s central bank is likely to cut its key interest rate to 3.0% from 3.25% at its next board meeting, today. Recall that at its last meeting, on August 4, the central bank board [...] >> mai mult >>

septembrie 30, 2014

NSI: Romania's business sentiment remains positive in September.

Romanian managers remained moderately optimistic in their expectations about the performance of the country’s economy in the three months through November. In the industrial sector, production is seen rising while the number of employees and prices are expected to remain [...] >> mai mult >>

septembrie 29, 2014

SIF OLTENIA (SIF5 RO): SIF5 will start paying 2013 gross dividend of 0.16 RON per share on October 1st.

SIF OLTENIA (SIF5 RO): SIF5 will start paying 2013 gross dividend of 0.16 RON per share on October 1st.(Source: SIF Oltenia) >> mai mult >>

septembrie 29, 2014

ANOFM: Romania end-Aug jobless rate rises to 5.12%.

Romania's unemployment rate rose to 5.12% at the end of August from 5.09% a month earlier, the government's employment agency, ANOFM, said on Friday. The unemployment rate was 0.23 percentage points lower than in August 2013.The number of unemployed people in Romania rose by [...] >> mai mult >>

septembrie 26, 2014

FONDUL PROPRIETATEA (FP RO): FP plans fifth buy-back programme.

FP said on Thursday it plans to buy back up to 10% of its shares in a fifth buyback programme aimed at a share capital decrease. The proposal will be submited to shareholders’ approval on November 19th. The fund plans to repurchase up to 227,572,250 shares at a price of between 0.2 - [...] >> mai mult >>

septembrie 26, 2014

BANCA TRANSILVANIA (TLV RO): Banca Transilvania to buy back 3.0m shares.

Banca Transilvania announced yesterday it plans to buy back 3.0 million own shares, or a 0.12% stake, at a price of up to 2.5 RON each for an employee loyalty programme. The minimum acquisition price will be equal to the value at which the shares are traded on the [...] >> mai mult >>

septembrie 26, 2014

Finance Ministry: Romania sold RON 500m in T-bills due March 2015.

Romania sold out its entire offer of RON 500m in six-month Treasury bills on Thursday, at an average yield of 2.55%. Up to date, Romania has sold some RON 29.8bn and EUR 928.7m in government debt paper on the domestic market, along with USD 2.0bn in 10-year and 30-year bonds on the US [...] >> mai mult >>

septembrie 26, 2014

Finance Ministry: Romania 8-mo cons budget gap shrinks to 0.24% of GDP.

Romania's eight-month consolidated budget deficit shrank to 0.24% of the gross domestic product (GDP) projected for 2014 from 1.3% a year earlier as revenue increased while spending edged down. Romania's consolidated budget gap shrank 80.2% to RON 1.572bn in the eight months through [...] >> mai mult >>

septembrie 25, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Sobolewski, BSE CEO, stated 5 companies are on the verge of listing on ATS.

Bucharest Stock Exchange (BVB) relaunched this year the alternative trading system named AeRO BVB Market for Equities and will be dedicated to small and medium enterprises with high growth potential and interested to use the stock exchange as means of financing. For Aero to enter into force, it [...] >> mai mult >>

septembrie 25, 2014

MEFIN Sinaia (MEF RO): Mefin plans to delist from Bucharest Stock Exchange.

Romanian manufacturer of diesel fuel injection systems and automotive components Mefin said on Wednesday it plans to delist its shares from the Bucharest Stock Exchange. The company's shareholders will vote on the proposal at a meeting scheduled for November 3rd. At the end of June, [...] >> mai mult >>

septembrie 24, 2014

FONDUL PROPRIETATEA (FP RO): FP wants to sell shares in Enel subsidiaries.

FP is willing to sell its holdings in the electricity distribution companies controlled by Enel Romania, in the context of the Italian group planing to give up the subsidiary, stated yesterday Greg Konieczny, FP Manager. FP holds 12% stakes in in Enel Distribution Muntenia and 24.1% in Enel [...] >> mai mult >>

septembrie 24, 2014

FONDUL PROPRIETATEA (FP RO): Shareholders renewed Templeton as administrator for another 2 years.

Shareholders renewed Franklin Templeton’s mandate as manager for a period of two years as of September 30, and rejected the modification of the company statutes according to an ASF opinion issued in April, according to which the administrator would have been selected by public tendering. [...] >> mai mult >>

septembrie 24, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Bucharest bourse launches BET Total Return index.

The Bucharest Stock Exchange launched the BET Total Return index (BET-TR) on Tuesday, a free float weighted index of the 10 most traded companies listed on the regulated market. The index will be adjusted for the cash dividends distributed by companies included in the index, the bourse said on its [...] >> mai mult >>

septembrie 24, 2014

NBR: Private lending down in Romania for the fourth month in a row.

Private lending continues to drop in Romania, after the stock of non-governmental loans was down for the fourth time in a row in August. Lending was up for only two months in the beginning of the year. The lending stock was down 0.1% MoM in August, to some EUR 48bn. Lending in RON was up 0.7%, while [...] >> mai mult >>

septembrie 24, 2014

Bulgarian energy min: Bulgaria-Romania gas link to go live in 2015.

The gas interconnector between Romania and Bulgaria is expected to go into operation in 2015, Bulgarian energy minister Vasil Shtonov said on Tuesday. The pipeline will play a key role in reducing Bulgaria's dependence on a single energy source, together with the Gas Interconnector [...] >> mai mult >>

septembrie 24, 2014

NBR: Romania's end-Aug M3 money supply rises 5.6% YoY.

Romania's M3, the broadest gauge of the country's money supply, increased by a nominal 5.6% YoY to RON 242.8bn at the end of August. On a monthly basis, Romania's M3 edged up 0.9% in July. In real terms, the M3 money supply was 4.8% higher YoY at the end of August. (Source: National Bank of [...] >> mai mult >>

septembrie 23, 2014

FONDUL PROPRIETATEA (FP RO): Secondary listing documentation ready to be filed as soon as the FSA endorses necessary changes to the current regulations.

The documentation required for the secondary listing of the Fund on the London Stock Exchange (LSE) has been finalized and is ready to be filed as soon as the Financial Supervisory Authority (FSA) endorses the changes to the current regulations necessary to permit the use of Depositary Interests [...] >> mai mult >>

septembrie 23, 2014

Enel seeks to get 1.2 bln euro for two distribution units in Romania.

Italian power group Enel has asked for a combined EUR 1.2bn for two of the Romanian distribution units it is looking to sell. The Romanian government is interested in acquiring the two units, Enel Muntenia Sud and Enel Dobrogea, via state-controlled companies Nuclearelectrica (SNN) [...] >> mai mult >>

septembrie 23, 2014

Ministry of Finance: Romania sold RON 241.5m in T-bonds due Feb 2025.

Romania on Monday sold RON 241.5m in Treasury bonds due on February 24, 2025, below its RON 400m offer. The average yield on the bonds, with a residual maturity of 125 months, was 4.36% above the 4.28% achieved on August 25. Up to date, Romania has sold some RON 29.3bn and EUR 928.7m [...] >> mai mult >>

septembrie 23, 2014

Minister Delegate for Energy, Razvan Nicolescu: IMF and EC agree to postpone gas price liberalization.

The International Monetary Fund IMF, the European Commission EC and the World Bank have agreed with the postponement of the gas market liberalization for households in Romania, according to the Minister Delegate for Energy, Razvan Nicolescu. The international financial institutions have also agreed [...] >> mai mult >>

septembrie 19, 2014

BIOFARM, SIFs (BIO RO, SIF1 RO, SIF2 RO, SIF4 RO): SIFs reduced their stakes held in Biofarm.

SIF4 reduced its stake from 51.7% to 45.8% by selling 63.9m shares worth RON 19.5m, SIF1 reduced its stake from 21.3% to 18.8% by selling 26.3m shares worth RON 8.03m and SIF2 reduced its stake from 13.8% to 12.2% by selling 17m shares worth RON 5.2m. Prior to the buy-back offer Biofarm held 0.0007% [...] >> mai mult >>

septembrie 19, 2014

NUCLEARELECTRICA (SNN RO): SNN is analyzing the opportunity arisen from the announced potential disposal of Enel's operations in Romania.

SNN is currently analyzing the opportunity arisen from the announced potential disposal of Enel’s operations in Romania and is currently performing a preliminary analysis on part of the transaction perimeter. No indicative or any other offer has been submitted to Enel. A potential decision of [...] >> mai mult >>

septembrie 19, 2014

FinMin borrows RON 234.8m from banks at 3.54% yield.

The Public Finances Ministry sold on Thursday RON 234.8m from the local banks by an auctioning of benchmark government bonds with 57-month residual maturity, June 2019. The average yield for the bonds is of 3.54%, with 4.75% coupon rate. The bond auctioning will be followed on Friday by an [...] >> mai mult >>

septembrie 19, 2014

Eurostat: Romania posts EU's sharpest annual fall in July construction output.

Romania posted the sharpest annual drop in July construction output among EU member states while Slovenia recorded the strongest growth. Construction output fell by an annual 19.7% in Romania but jumped by 24.8% in Slovenia in July. In June, Romania also recorded the [...] >> mai mult >>

septembrie 18, 2014

SIF MOLDOVA (SIF2 RO): 2.7% stake traded on BSE.

A total of 14 million shares or a 2.7% stake in SIF Moldova was traded yesteday in a single block deal at a price of 1.46 RON pwer share in total worth of RON 20.4m. (Source: BVB.ro) [...] >> mai mult >>

septembrie 18, 2014

BIOFARM (BIO RO): Biofarm buys back 10% of shares via public offer.

Romanian drug maker Biofarm bought back 109.49 million own shares (10% stake) for a combined RON 33.4m in the public offer. Recall that Biofarm launched the public offer for the acquisition of up to 10% of its shares on August 26 and wrapped it up on September 15. The offered price [...] >> mai mult >>

septembrie 18, 2014

EBRD cuts outlook for SEE 2014 economic growth to 1.9%.

The European Bank for Reconstruction and Development (EBRD) said on Thursday it has cut its forecast for economic growth in Southeast Europe (SEE) in 2014 to a weighted average of 1.9% from a 2.2% projection issued in May. EBRD's SEE region comprises Albania, Bosnia and Herzegovina, Bulgaria, [...] >> mai mult >>

septembrie 17, 2014

FONDUL PROPRIETATEA, OMV PETROM (FP RO, SNP RO): FP mandated Goldman Sachs to find buyers for its stake in Petrom.

FP remaining 18.99% stake in OMV Petrom (SNP) is valued at RON 5.1bn (cEUR 1.15bn). Back in March Templeton officials stated their ongoing commitment is to enhance shareholder value and improve the liquidity of assets in the portfolio, and that the fund examines its strategic options to reduce its [...] >> mai mult >>

septembrie 17, 2014

Romania to postpone gas price liberalisation for households.

Romania plans to postpone an increase in the price of natural gas for households scheduled for October 1 and renegotiate the calendar for gas prices liberalisation, the state energy department said on Tuesday. According to the current calendar, which was negotiated by the government in [...] >> mai mult >>

septembrie 16, 2014

FONDUL PROPRIETATEA, OMV PETROM (FP RO, SNP RO): FP to sell it entire stake in Petrom worth EUR 1bn.

According to media, Franklin Templeton want to sell  FP’s remaining stake in OMV Petrom (SNP) of 18.99% valued at RON 5.1bn (cEUR 1.15bn). Templeton officials did not comment on the subject. (Economica.net) [...] >> mai mult >>

septembrie 16, 2014

FONDUL PROPRIETATEA (FP RO): FP posts 8-month profit up 90.2% higher YoY.

Fondul Proprietatea’s profit nearly doubled YoY to RON 1.0bn (USD 292.2m/EUR 226m) over the first eight months of 2014 compared to a profit of RON 530.5m in the same period of last year. The fund's net asset value fell to some RON 14.94bn at the end of August from RON 15.18bn a year [...] >> mai mult >>

septembrie 16, 2014

Media: Software solutions provider Arobs are considering an IPO on Bucharest Stock Exchange in order to finance it acquisitions in the region.

Media: Software solutions provider Arobs is considering an IPO on Bucharest Stock Exchange in order to finance it acquisitions in the region.(Source: ZF.ro) >> mai mult >>

septembrie 16, 2014

Hidroelectrica 8 month profit up 12% YoY at RON 719m (EUR 162m) and forecast a 2014 profit of RON 1bn (EUR 226m).

The company produced 12.3 TWh of electricity in the first eight months, c88.5% of the whole output estimated for this year. This is why the new forecast for this year sees an output of at least 17 TWh, 3.1 TWh higher compared to the budgeted level. According to Remus Borza, Hidroelectrica’s [...] >> mai mult >>

septembrie 16, 2014

Ministry of Finance: Romania sold RON 244m in 10-yr T-notes, higher yield.

Romania sold on Monday sold RON 244m in ten-year Treasury notes due on June 11, 2021, below its target offer of RON 400m. The average yield on the bonds was 4.26%, compared to 4.14% achieved on August 18th. Up to date, Romania has sold some RON 28.7bn and EUR 928.7m in government debt paper on [...] >> mai mult >>

septembrie 15, 2014

FONDUL PROPRIETATEA (FP RO): August NAVS up 1.8% MoM at 1.2712 RON (+7.9% YoY, +2.2% YTD).

FONDUL PROPRIETATEA (FP RO): August NAVS up 1.8% MoM at 1.2712 RON (+7.9% YoY, +2.2% YTD). (Source: FP) >> mai mult >>

septembrie 15, 2014

OMV PETROM (SNP RO): OMV Petrom completes EUR 600m refinery modernization in Romania.

Oil and gas company OMV Petrom has recently completed the modernization of Petrobrazi Refinery in Romania, following investments of EUR 600m, carried out in the last four years. The main objective of the modernization program was to increase competitiveness. The increased production of diesel fuel, [...] >> mai mult >>

septembrie 15, 2014

NBR: Foreign direct investments down at EUR 1.3bn in Romania.

Foreign direct investments totalled EUR 1.3bn in the first seven months of the year, down 13.8% YoY, according to data from the central bank BNR. Of the total amount, equity stakes (including reinvested earnings) amounted to some EUR 1.3bn and intragroup loans posted net payments of EUR 76m. Last [...] >> mai mult >>

septembrie 15, 2014

NBR: Current account deficit at EUR 781m in Romania.

Romania’s current account deficit stood at EUR 781m in the first seven months of this year, compared to a surplus of EUR 92m the same period of 2013. The deficit was of EUR 878m in the first half of the year. The country’s long-term debt was down 1.4% compared to the end of 2013, to EUR [...] >> mai mult >>

septembrie 12, 2014

New oil royalties system to be discussed in November with IMF delegation.

Prime Minister Victor Ponta announced that the new oil royalties system will be submitted for public debate as soon as the official visit of the International Monetary Fund (IMF), the European Commission (EC) and the World bank (WB) delegations scheduled for November ends. The Romanian Government is [...] >> mai mult >>

septembrie 12, 2014

NSI: Romania 7-mo industrial output grows 9.7% YoY.

Romania's industrial output rose by 9.7% YoY in the first seven months of the year, while in July alone, the country's industrial output fell 0.1% MoM and stood 6.1% higher YoY. The figures are seasonally- and working-day adjusted. (Source: National Statistics Institute) [...] >> mai mult >>

septembrie 12, 2014

Finance Ministry: Romania sold RON 400m in 3-year T-notes, yields up.

Romania sold on Thursday its entire offer of RON 400m in three-year Treasury notes due on August 29th, 2016, at an average yield of 2.76%, higher than the 2.61% achieved on August 21st. Up to date, Romania has sold some RON 28.4bn and EUR 928.7m in government debt paper on the domestic market, along [...] >> mai mult >>

septembrie 11, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Romania to have new alternative stock market platform for small firms, IT & startups.

Companies with a market value of up to EUR 250,000 will be able to list on the Bucharest Stock Exchange on an alternative trading system, which will become functional by the end of this year, provided they list at least 10% of their shares, according to the Bucharest Stock Exchange CEO Ludwik [...] >> mai mult >>

septembrie 11, 2014

BIOFARM (BIO RO): Offer was subscribed over six times.

The offer lauched by BIO targeting to acquire up to a 10% stake or 109.48m shares was subscribed 6.6 times by investors, according to information available yesterday afternoon.  Recall that the offering period 26th Aug – 15th Sep. Investors subscribed a total of about 723m shares worth [...] >> mai mult >>

septembrie 11, 2014

BIOFARM (BIO RO): Change between SIFs in BIO’s BoD.

BIO’s BoD named Gabriel Filimon, general manager of Muntenia Invest, a company that manages SIF Muntenia (SIF4), as provisional administrator, replacing Tudor Ciurezu, SIF Oltenia (SIF 5) Chairman, who resigned in June. The new BoD structure is Danut Vasile (Chairman), Dragos Bilteanu SIF [...] >> mai mult >>

septembrie 11, 2014

NSI: Romania’s annual inflation rate down at 0.85% in August.

Consumer prices in Romania fell by 0.3% MoM in August and the annual inflation rate dropped at 0.85%, as prices of food decreased by 0.9%. In July, Romania’s inflation rate stood at 0.95%. Prices for non-food items also dropped slightly by 0.1% MoM in August, while prices for services [...] >> mai mult >>

septembrie 11, 2014

Romania to launch new EUR 600m state aid scheme for large investments.

Romania’s Government will launch a new state aid scheme for companies, which will be available until 2020 and will have a total budget of EUR 600m for non-refundable financing. The maximum annual budget for the scheme will be about EUR 100m. The state aid will be available for a number of [...] >> mai mult >>

septembrie 11, 2014

PM Victor Ponta: Romania’s new excise system to be discussed in November with the IMF.

The new system of oil and gas excises will be discussed with the International Monetary Fund (IMF), the European Commission and the World Bank at their next visit, scheduled for November, said Romanian Prime Minister Victor Ponta. A report on the new excises system is being drafted with support from [...] >> mai mult >>

septembrie 11, 2014

NSI: Romania's 7-mo energy output rises 1.5%.

Romania's energy output rose by an annual 1.5% in the first seven months of the year, while imports rose 9.6%. Romania's energy production totalled 12.74 million tonnes of oil equivalent (TOE) through July, while imports reached 5.59 million TOE. A TOE is the rounded-off amount of energy that would [...] >> mai mult >>

septembrie 10, 2014

BRD-GSG, BANCA TRANSILVANIA, BANCA COMERCIALA CARPATICA (BRD RO, TLV RO, BCC RO): Romanian banking sector's bad loan ratio falls to 17.7% at end-July.

The share of non-performing loans (NPLs) in the credit portfolio of Romanian banks fell to 17.7% in July from 19.2% a month earlier, the Romanian central bank, BNR, said. The bad loan rate stood at 21.9% in December. We expect the downward trend to continue in the following months, keeping in mind [...] >> mai mult >>

septembrie 10, 2014

OMV Petrom, Romgaz, Hidroelectrica, Nuclearelectrica, Electrica, Transgaz, Transelectrica (SNP RO, SNG RO, SNN RO, EL RO, TGN RO, TEL RO): Romania’s tax on special constructions goes down.

The tax on special constructions, the so called ‘pole tax’ will be cut from the current 1.5% to 1%, according to Finance Minister Ioana Petrescu. The measure will be applied in 2015, and stemmed from discussions with representatives of investors in Romania. The tax will be first [...] >> mai mult >>

septembrie 10, 2014

NUCLEARELECTRICA (SNN RO): China Nuclear Power Corporation, in selection process for units 3 and 4.

China Nuclear Power Corporation has been short-listed in the process of selection of investors for the construction of nuclear units 3 and 4 of the Cernavoda nuclear power station, Nuclearelectrica CEO Daniela Lulache stated. The Chinese company submitted the only tender. It will be a majority [...] >> mai mult >>

septembrie 10, 2014

EUR 4-5bn investments per year for Romanian energy independence.

Energy independence, a sustained contributing factor to the country’s economic development, remains a fairly distant goal for Romania, against the backdrop in which experts forecast that Romania’s natural gas deposits will run out in the next decade. Romania needs investments of EUR 4-5 [...] >> mai mult >>

septembrie 10, 2014

Mircea Ursache, FSA Vice President: European legislation in domestic capital market, needed.

Romania must have, in a few years, European legislation in the area of capital market, and in order to meet this objective ‘sweeping the secondary legislation’ is a step that is more than necessary, said on Tuesday, Mircea Ursache, Vice President of the Financial Supervisory Authority [...] >> mai mult >>

septembrie 10, 2014

NSI: Domestic exports, record level in July – EUR 4.78bn, trade deficit of EUR 520m.

Romania’s exports reached a record level of RON 21.05bn  in July (+12.7% YoY), while the imports totaled RON 23.35bn (+10.6% YoY). FOB exports in the first seven months were worth RON 135.14bn (EUR 30.30bn) and the CIF imports stood at RON 150.06bn (EUR 33.65bn). Compared to the same [...] >> mai mult >>

septembrie 9, 2014

BURSA DE VALORI BUCURESTI (BVB RO): BVB will reduce trading fees as of October 1, 2014.

One of these measures is the reduction of trading fees for shares (Regular market) to 4 bps on the buy side of trades and 10 bps on the sell side. In addition, substantial cuts will also apply to fees for trading bonds and government securities. (Source: Bursa De Valori Bucuresti ) [...] >> mai mult >>

septembrie 9, 2014

Romanian banks’ profit down to EUR 47m In the first half.

Romanian banks had a profit of RON 209m in June, down from RON 703m the month before, as banks continued to clean their portfolios. The provisions were also reduced by over EUR 476m. According to data from the central bank BNR, the provisions started dropping in May, when a first decrease was seen. [...] >> mai mult >>

septembrie 9, 2014

Ministry of Finance: Romania sold RON 100m in 15-year T-bonds due July 2027.

Romania sold on Monday its entire offer of RON 100m in 15-year Treasury bonds due on July 26, 2027, at a lower yield of 4.35%, compared to the 5.11% achieved on June 2nd. Up to date, including this auction, Romania has sold some RON 28bn and EUR 928.7m in government debt paper on the [...] >> mai mult >>

septembrie 9, 2014

NSI: Turnover in industry, up 2.7 percent in July.

The turnover in industry increased in July 2014 by 2.7% MoM and by 4.4% YoY, while in the first seven months of this year, the growth stood at 9.9% YoY. The monthly trend in July was based on the growth of processing industry by 3.3%, despite the 13.5% decline of the mining industry. (Source: [...] >> mai mult >>

septembrie 8, 2014

Fitch confirmed Romania’s investment grade rating.

Fitch Ratings has affirmed Romania’s Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB-’ and local currency IDR at ‘BBB’, while revising Fitch Ratings has affirmed Romania’s Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB-’ [...] >> mai mult >>

septembrie 8, 2014

CEMACON Buzau (CEON RO): Cemacon cuts share capital by 98%.

Romanian building materials producer Cemacon has reduced its share capital by 98% to RON 0.52m from RON 262.9m, after the company cancelled a total of 257.6 million shares with a face value of 0.1 RON each. (Source: Cemacon) [...] >> mai mult >>

septembrie 8, 2014

Central Depositary Board approved October 6th deadline for the migration to the T+2 settlement cycle.

BVB Board of Governors considers the respective corporate bodies and leaders of the Depozitarul Central accountable for the effective transition, starting from October 6, to the environment in which all trades executed on the Romanian capital market, settled so far on T+3, will be settled on T+2, as [...] >> mai mult >>

septembrie 8, 2014

Gov’t strategy draft: 10 economic sectors to boost competitiveness by 2020.

Until 2020 Romania will focus on developing ten economic sectors as part of a competitiveness strategy whose goal is to fall in line with advanced nations. The ten economic sectors are: tourism and ecotourism, textiles and leather, wood and furniture, creative industries, auto and auto parts, IT and [...] >> mai mult >>

septembrie 8, 2014

After VAT reduction for bread, PM wants this measure to be applied to other products.

Romanian Prime Minister Victor Ponta asked Agriculture Minister Daniel Constantin to find the “next target” for Value Added Tax (VAT) reduction, considering that this measure applied to bakery products was correct in terms of fiscal budget. Recall that starting with September last year [...] >> mai mult >>

septembrie 5, 2014

NUCLEARELECTRICA (SNN RO): Nuclearelectrica plans to raise share capital by 8.6% or RON 241.5m up to RON 3.06bn via cash infusion and in-kind contribution.

Shareholders are convened on October 6th to vote on the proposal. Nuclearelectrica plans to issue up to 24.1 million new shares with a face value of 10 RON. A total of 19.6 million shares will be allocated to the Romanian state, to account for its contributions [...] >> mai mult >>

septembrie 5, 2014

PM Victor Ponta: Romania plans to cut tax on special constructions.

Romania's prime minister Victor Ponta said on Thursday the government plans to cut a tax on special constructions introduced earlier this year to 1.0% from 1.5% and allocate the money collected under this item to local budgets and will be used to improve roads, schools and hospitals. However, no [...] >> mai mult >>

septembrie 5, 2014

Ministry of Finance: Romania sold RON 500m in 1-year T-bills.

Romania sold out its entire offer of RON 500m in one-year Treasury bills, as yields rose to 2.22% from 2.09% achieved in the previous auction of one-year T-bills held last month. The T-bills will mature on September 7, 2015. Including this auction, Romania has sold some RON [...] >> mai mult >>

septembrie 2, 2014

Electrica (EL RO), the Romanian electricity distributor and supplier, listed on the Bucharest stock exchange, is likely to be included in the MSCI 100 index of frontier markets in November.

Electrica (EL RO), the Romanian electricity distributor and supplier, listed on the Bucharest stock exchange in July following a 1.9 billion lei (EUR432 million) initial public offering, is likely to be included in the MSCI 100 index of frontier markets in November. Only five Romanian companies are [...] >> mai mult >>

septembrie 2, 2014

Romanian foreign exchange reserves stood at EUR30.87 billion at the end of August.

Romanian foreign exchange reserves stood at EUR30.87 billion at the end of August, little changed from EUR30.9 billion in July, central bank data showed Monday. August inflows into the BNR accounts totaled close to 1.13 billion euro representing changes in the foreign exchange reserve requirements [...] >> mai mult >>

septembrie 1, 2014

NSI: Romanian unemployment rate down to 7% in July.

Romania's unemployment rate went down to 7% in July, from 7.1% in the previous month, seasonally adjusted data from the statistics institute INS showed on Friday. (Source: National Statistics Institute) >> mai mult >>

septembrie 1, 2014

Lending in RON rose in July for the first time in 5 years.

Romanian currency-denominated consumer loans in July registered the first annual increase in the past five years, reaching RON 23.5bn, 0.1% above the level of the same period of 2013, according to BNR data. Against June, consumer loans added the equivalent of RON 100m. (Source: National Bank of [...] >> mai mult >>

august 29, 2014

BANCA TRANSILVANIA (TLV RO): BoD approved the share capital increase following bonds conversion.

BoD approved the share capital increase by RON 49.4m up to RON 2.6bn following the issue of 49.44m new shares following the bonds conversion. (Source: Banca Transilvania) [...] >> mai mult >>

august 29, 2014

NSI: Romania's business sentiment remains positive in August.

Romanian managers remained optimistic in their expectations about the performance of the country’s economy in the three months through October, the national statistics board, INS, said on Thursday. In the industrial sector, production is seen rising while the number of employees and [...] >> mai mult >>

august 28, 2014

NUCLEARELECTRICA (SNN RO): Nuclearelectica starts competitive selection procedure for construction of Cernavoda’s 3 and 4 units.

Romanian electricity producer Nuclearelectrica has started yesterday the competitive selection procedure of a private investor for the Cernavoda Nuclear Power Plant Units 3 and 4 project. The first stage of the selection procedure consists in the qualification of investors interested in the [...] >> mai mult >>

august 28, 2014

OLTCHIM Rm. Valcea (OLT RO): EC raises questions about Oltchim’s privatization in Romania.

The European Commission EC has asked Romania a series of clarifications regarding the privatization of Romanian chemical producer Oltchim. The EC asked the Romanian state to prove that is acting as a private shareholder considering that although Oltchim has debts at the state, the state [...] >> mai mult >>

august 28, 2014

ROPHARMA, FARMACEUTICA REMEDIA (RPH RO, RMAH RO): Drugstores in Romania to sell drugs without prescription online.

Licensed drugstores will be able to sell online drugs without prescription, under certain conditions, according to a draft ordinance published on the Ministry of Health’s website. (Source: Romania-Insider.com) [...] >> mai mult >>

august 28, 2014

TRANSGAZ, ROMGAZ (TGN RO, SGN RO): Romanian Government to postpone 3% price increase for gas.

The European Commission’s Directorate-General for Enterprise wants Romania to eliminate a legislative provision that forces gas producers in Romania to primarily deliver gas from internal production to the population, and Romanian authorities will not apply the price increase scheduled for [...] >> mai mult >>

august 28, 2014

NBR: Private lending continues downtrend in Romania.

Private lending continues to decline in Romania, given that the non-government loans granted by credit institutions decreased in July compared to June, for the third consecutive month. According to NBR data, non-government loans granted by credit institutions totalled RON 213.8bn (EUR 48bn) in July, [...] >> mai mult >>

august 28, 2014

Ministry of Finance: Romania plans to issue RON 3.07bn (EUR 699m) in debt paper in Sept.

Romania has sold some RON 27.3bn and EUR 928.7m in government debt paper on the domestic market so far this year. (Source: SeeNews.ro) >> mai mult >>

august 27, 2014

TRANSGAZ, ROMGAZ (TGN RO, SGN RO): Romania plans to postpone planned natgas price hike - energy min.

Romania plans to put on hold plans to increase natural gas prices for households as of October 1 due to an ongoing dispute over gas exports with the European Commission, energy minister Razvan Nicolescu stated yesterday. In May Romania's energy regulator announced it would hike gas prices [...] >> mai mult >>

august 27, 2014

Ministry of Finance: Romania's 7-mo cons budget gap shrinks to 0.2% of GDP.

Romania's consolidated budget deficit in the January-July period shrank to 0.2% of GDP projected for 2014 from 1.0% a year earlier as revenue increased while spending edged down. Romania's consolidated budget gap shrank 83.2% YoY to RON 1.010bn(EUR 229.8m) in the seven months through July. [...] >> mai mult >>

august 27, 2014

NBR: Romania's end-July M3 money supply up 6.6% YoY.

Romania's M3, the broadest gauge of the country's money supply, increased by a nominal 6.6% YoY to RON 240.7bn (EUR 54.8bn) at the end of July. On a monthly basis, Romania's M3 edged up 0.4% in July. In real terms, the M3 money supply was 5.6% higher YoY at the end of July. (Source: [...] >> mai mult >>

august 26, 2014

Media: Romanian banks to remove EUR 1bn of bad loans from their portfolios this fall.

Romanian banks are expected to sell non-performing loans (NPLs) worth about EUR 1bn, in nominal terms, this fall, either publicly or internally, according to Ziarul Financiar. Local banks are being pressured by Romania’s National Bank (BNR) and by the European stress tests which are performed [...] >> mai mult >>

august 26, 2014

NBR: Romania sold RON 200m in T-notes due in Feb 2025.

Romania sold yesterday RON 200m in T-notes due in Feb 2025, while yields slightly rose to 4.28%, compared to 4.23% achieved last month. Including this auction, Romania has sold some RON 27.3bn and EUR 928.7m in government debt paper on the domestic market so far this year, along with USD 2.0bn [...] >> mai mult >>

august 25, 2014

Financial watchdog: Market capitalization down in H1 for companies listed on Bucharest Stock Exchange.

The market capitalization of the companies listed on the Bucharest Stock Exchange  totalled RON 131.569bn at the end of the first half-year, down by RON 2.26bn from end-December 2013, accounting for 19.86% of the gross domestic product estimated for 2014. On YoY basis, the stock market [...] >> mai mult >>

august 25, 2014

VAT for bread to stay at 9% in Romania, independent from IMF talks.

The Value Added Tax for bread and bakery products will stay at 9%, irrespective of the upcoming discussions with the International Monetary Fund (IMF), stated Agriculture Minister Daniel Constantin. The Romanian Government is currently analyzing whether to extend the 9% VAT to milk, meat, and fruits [...] >> mai mult >>

august 22, 2014

FONDUL PROPRIETATEA (FP RO): FP to launch a new buy-back program by year-end.

To start the new buy-back program FP needs FSA agreement on the share capital reduction, decision expected in September and that normally should not be delayed, according to Greg Konieczny, manager of the Fund. After the reduction is approved, FP will launch a new buy-back program of up to 8% of its [...] >> mai mult >>

august 22, 2014

ROMCAB Tg. Mures (MCAB RO): Morgan Stanley reduced its stake by 4.3% worth EUR 0.3m.

Morgan Stanley held a 15.95% stake as of 30th of June. (Source: Romcab) [...] >> mai mult >>

august 22, 2014

NBR: Romania sold RON 300m in 3-year T-notes, yields up.

Romania sold on Thursday its entire offer of RON 300m in three-year Treasury notes due on August 29, 2016, at an average yield of 2.61% compared to 2.32% achieved on July 10. Up to date, Romania has sold some RON 27.1bn and EUR 928.7m in government debt paper on the domestic market so far this [...] >> mai mult >>

august 21, 2014

BIOFARM (BIO RO): FSA approved the buy-back of up to a 10% stake during 26th Aug – 15th Sep.

Biofarm targets to acquire up to 109.48m shares or a 10% stake  at a price of RON 0.305 per share, 8.5% above the last closing price of RON 0.2810 per share. This is part of the buy-back program approve by shareholders back in April. The offering period is 15 working days, 26th Aug – 15th [...] >> mai mult >>

august 21, 2014

ANOFM: Romania end-July jobless rate rises to 5.09%.

Romania's unemployment rate rose to 5.09% at the end of July from 4.87% a month earlier, the government's employment agency, ANOFM announced on Wednesday. The unemployment rate was 0.20 percentage points lower than in July 2013. Romania's workforce is estimated at 9.3 million out [...] >> mai mult >>

august 21, 2014

Eurostat: Romania posts EU's sharpest annual fall in June construction output.

Romania (-13.1% YoY) posted the sharpest annual drop in June construction output among EU member states while Slovenia recorded the strongest growth (+28.7% YoY), according to data released by the bloc's statistics office Eurostat. In the EU28, production in [...] >> mai mult >>

august 20, 2014

Media: Romanian banks' H1 profit sinks to RON 223m (EUR 50.3m).

The combined profit of Romania's 40 banks fell to RON 223m in the first half of the year. NPL ratio increased almost nine times from 2007 to a peak of 22.3% in March 2014, then gone on a downward trend and further reduction is anticipated. In late June NPL ratio fell below 20%. Last [...] >> mai mult >>

august 20, 2014

ARTEGO Tg. Jiu (ARTE RO): Rubber products maker Artego plans to cut share cap by 10%.

Romanian rubber products maker Artego plans to buy back up to 10% of its shares and cancel them. The company's shareholders approved a plan to repurchase up to 994,937 shares with a nominal value of a combined RON 2.49m within a period of 18 months. The repurchasing price has been set at [...] >> mai mult >>

august 19, 2014

Media: Hidroelectrica management targets EUR 225m profit this year.

State-owned Hidroelectrica expects a gross profit of over EUR 225m this year, c10% higher YoY. In the first seven months of the year, the company booked a gross profit of about EUR 135m. The larger profit forecast is supported by a larger quantity of energy produced. Hidroelectrica initially [...] >> mai mult >>

august 19, 2014

NBR: Romania sold RON 300m in 10-yr T-notes due June 2021.

Romania sold on Monday RON 300m in ten-year Treasury notes due on June 11, 2021, as yields went up. The average yield on the bonds, with a residual maturity of 82 months, was 4.14% compared to 3.88% achieved last month. Bids were placed for RON 807.5m worth of government debt paper in the [...] >> mai mult >>

august 19, 2014

EUROSTAT: Top spots for Romania for export and import growth in the EU.

Romania was in EU’s top 3 for export growth, but came first when it came to increases in imports, according to data from Eurostat. Thus, Romania’s exports registered an increase of 8% YoY in January-May this year, reaching EUR 21.3m. Similar increase was posted by Poland and the Czech [...] >> mai mult >>

august 18, 2014

Eurostat: Romania posts EU's sharpest monthly drop in Q2 GDP.

The National Institute of Statistics released on Thursday signal estimates for Romania’s Q2’14 and H1’14 economic growth posting a real quarterly Q2’14 GDP drop of 0.1% while on yearly basis it rose 1.2%. Provisional data on Q2’14 and H1’14 GDP will be published [...] >> mai mult >>

august 18, 2014

NUCLEARELECTRICA (SNN RO): Trimmed by lower revenues (-10.2% YoY) and depreciated margins, SNN’s H1’14 net profit fell 69.2% YoY to RON 60.4m.

The EBITDA landed at RON 249.7m, down 42.6% YoY, with the margin deteriorating from 46.8% in H1’13 down to 29.9% in H1’14. This was partially offset by a net financial profit of RON 42.7m, 2.8x higher YoY. Gross production during Q2’14 dropped by 4.3% YoY to 2.5TWh as the planned [...] >> mai mult >>

august 18, 2014

Electrica (EL RO): Q2’14 net profit down 15% YoY due to consolidation adjustments.

The supply net result landed more than double YoY at RON 74m, the distribution net result reached RON 89m (-10% YoY) while losses from external services companies reached RON 25m vs. losses of RON 20 m in Q2’13. Headquarters booked a record profit of RON 215m, more than double YoY, but was [...] >> mai mult >>

august 18, 2014

Electrica (EL RO): MSCI did not include Electrica in Frontier Markets Index after quarterly review.

Electrica (EL RO): MSCI did not include Electrica in Frontier Markets Index after quarterly review. (Source: msci.com) >> mai mult >>

august 18, 2014

Fondul Proprietatea (FP RO): FSA set up October as deadline for issues preventing secondary listing of companies through GDRs.

In FP’s case, this is the only outstanding issue in order to allow for the listing to go forward as planned. (Source: FSA) >> mai mult >>

august 18, 2014

FSA published an action plan for the Romanian market upgrade to emerging market status.

The main points on the agenda are: (i) to simplify procedures for registering foreign investors on the domestic market; (ii) to lower legal requirements for exercising shareholder rights in GSMs; (iii) to distribute dividends through a centralized system; (iv) to extend the possibility of secondary [...] >> mai mult >>

august 14, 2014

FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea posted a July NAV per unit of 1,2477 (+8.8% YoY) supported by higher valuation for the listed stocks YoY.

The fund's net asset value stands at RON 14.748bn at the end of July vs. RON 15.034bn a year earlier, while the NAV per unit surged from 1.1602 up to 1.2490 RON per unit while the number of issued shares dropped from 12.95bn down to 11.82bn. On YTD basis, listed holdings dropped 10.9 (+29% YoY) [...] >> mai mult >>

august 14, 2014

OLTCHIM Rm. Valcea (OLT RO): Chemical producer Oltchim cuts loss in the first six months.

Insolvent Romanian state-owned chemical producer Oltchim narrowed its loss to RON 114.5m in the first half of 2014, down 22% YoY. In January-June 2013, the company registered a loss of RON 147.4m. H1’14 operating income increased to RON 274.3m with operating expenses of RON 383.1m. Q1’14 [...] >> mai mult >>

august 14, 2014

Eurostat: Romania, second highest industrial production growth in the EU in June.

Romania recorded the second highest increase in industrial production in the European Union (EU) in June 2014 compared with June 2013, of 9.9%, according to recent data from Eurostat. Only Hungary posted a higher increase in industrial production (+11.3%), while Romania is followed by Slovakia [...] >> mai mult >>

august 14, 2014

NBR: Romania turns to c/a gap of EUR 878m in H1’14, FDI down 10.3% YoY.

Romania turned to a current account gap of EUR 878m in the first half of 2014 from a surplus of EUR 123m a year earlier, mainly due to a wider income deficit. The income deficit rose by EUR 1.28bn YoY in the first six months of 2014. Foreign direct investments in Romania [...] >> mai mult >>

august 14, 2014

NBR: Romania end-June foreign debt shrinks to EUR 93bn.

Romania's foreign debt narrowed to EUR 92.96bn at the end of June from EUR 96.1bn at the end of 2013. The end-June figure includes EUR 75.3bn in long- and medium-term foreign debt, compared to EUR 76.9bn at the end of 2013. The figure for the long- and medium-term foreign debt includes [...] >> mai mult >>

august 13, 2014

NUCLEARELECTRICA: Second pair of reactors to cost EUR 5.0bn.

The construction of a second pair of reactors at Romania's sole nuclear power plant in Cernavoda would require an investment of some 5.0 billion euro ($6.7 billion), the plant's operator, Nuclearelectrica said. The investment figure does not include the existing assets which will be transferred to [...] >> mai mult >>

august 13, 2014

ZENTIVA Romania (SCD RO): Zentiva's Romanian unit posted a H1 net profit 4.2% lower YoY.

Despite 24.4% higher revenues YoY at RON 200m, lower margins trimmed the operating profitability, EBIT stood almost flat YoY at RON 33.8m, while the bottom line landed 4.2% lower YoY at RON 27.17m. (Source: Zentiva) [...] >> mai mult >>

august 13, 2014

Fitch affirms Romania's BCR bank ratings, revises outlook to negative.

Fitch Ratings revised the outlook on Banca Comerciala Romana's (BCR) long-term foreign and local currency Issuer Default Ratings (IDR) to negative from stable and affirmed the IDRs at 'BBB+', short-term IDR at 'F2' and Support Rating at '2'. However, Fitch believes that BCR continues to be [...] >> mai mult >>

august 12, 2014

SNP RO: Q2'14 net profit down 71% YoY burdened by one-month shutdown of Petrobrazi

OMV PETROM (SNP RO) reported today Q2'14 IFRS set of results posting an unexpected 71% drop in bottom line YoY to RON 311m burdened by E&P following the one-month planned shutdown of Petrobrazi refinery and the new construction tax in Romania. Overall, posted results stood in line with our [...] >> mai mult >>

august 12, 2014

SNG RO: 40% higher H1'14 net profit on 33% higher revenues and improved margins

ROMGAZ Medias (SNG RO) reported today H1'14 IFRS set of results posting a 40% higher net profit of RON 870.9m, mainly supported by 33% higher revenues YoY and improved margins. Posted results stand 12.7% above our forecast due to 17.4% higher than assumed revenues and slightly higher margin at 59.6% [...] >> mai mult >>

august 12, 2014

NSI: Romania’s inflation rate up at 0.95% in July.

Consumer prices in Romania fell by 0.1% MoM in July, as prices of food decreased by 0.3%. Prices for services increased by 0.4% MoM in July, while prices for non-food items remained relatively stable. The annual inflation rate went up to 0.95%. Romania’s inflation rate was of 0.66% in June. [...] >> mai mult >>

august 12, 2014

NSI: Romania’s trade deficit up to EUR 2.83bn in the first half.

Romania recorded a trade deficit of EUR 2.83bn in the first six months of this year, up some EUR 298.8m compared to the one registered in the same period of the previous year. Exports increased by 7.6% YoY in the first half of 2014, to EUR 25.5bn, while imports registered a growth of 8% YoY to EUR [...] >> mai mult >>

august 11, 2014

TRANSGAZ Medias (TGN RO): S&P affirms Transgaz at BB, revises outlook to stable.

Standard & Poor's Ratings Services affirmed on Friday the BB long-term corporate credit rating of blue chip Transgaz and revised its outlook to stable from negative. The outlook revision reflects that the regulatory environment for Transgaz has stabilized, and will not weaken the group's [...] >> mai mult >>

august 11, 2014

FONDUL PROPRIETATEA (FP RO): Ther Memorandum of listing on the London Stock Exchange ready in the coming weeks.

The Memorandum should be ready in the next few weeks, stated Greg Konieczny, FP’s Fund Manager, adding that the Fund will prepare and be ready in September. However, there are several minor adjustments to the local capital market regulation that the Financial Supervisory Authority (ASF) [...] >> mai mult >>

august 11, 2014

BANCA TRANSILVANIA (TLV RO): Banca Transilvania to buy back 2.0m shares.

Banca Transilvania announced on Friday it will buy back 2.0 million own shares at a price of up to 2.5 RON each for an employee loyalty programme. The minimum acquisition price will be equal to the value at which the shares are traded on the Bucharest Stock Exchange at the [...] >> mai mult >>

august 11, 2014

SIF BANAT CRISANA (SIF1 RO): SIF1 H1’14 net profit surges fivefold.

SIF Banat Crisana posted on Friday a H1’14 net profit of RON 149.3m compared to RON 28.7m a year earlier, supported by the topline. Total revenue jumped more than four times to RON 235.8m in the first half mainly on the back of higher revenue from the sale of financial investments worth RON [...] >> mai mult >>

august 11, 2014

Cegedim: Romanian drug market grows 2.0% in H1.

Romania's pharmaceuticals market rose by 2.0% YoY to RON 6.02bn in the first half of 2014, according to a survey by market research company Cegedim. In the second quarter alone, the market was up 5.7% YoY to RON 3.01bn. The retail segment generated sales worth RON 5.2bn in the first half, up by [...] >> mai mult >>

august 11, 2014

Romania Finance Ministry lowers the bond issuance target for August.

The Finance Minister lowered its bond issuance target for August to RON 2.215bn from RON 3.25bn announced earlier, the ministry said on Friday. According to the new calendar issued by the ministry, an auction for 15-year Treasury bonds worth RON 300m initially scheduled for April 11, was [...] >> mai mult >>

august 8, 2014

NBR: Romania sold RON 600m in 1-year T-bills.

Romania sold out its entire offer of RON 600m in one-year Treasury bills on Thursday. The average yield fell to 2.09%  from 1.93% achieved in the previous auction of one-year T-bills held last month. Including this auction, Romania has sold some RON 26.5bn and EUR 678.7m in government [...] >> mai mult >>

august 7, 2014

BUCHAREST STOCK EXCHANGE (BVB RO): Bottom line landed 33% higher YoY at RON 5.6m supported by increasing revenues and improved margins.

H1’14 BVB turnover was supported by increased trading activity and significant transactions executed on the public offers market. On costs side, marketing expenses stood 3 times higher to increase the visibility of the market. The operating margin improved to 45% vs. 29% in H1’13. Given [...] >> mai mult >>

august 6, 2014

MECANICA CEAHLAUL (MECF RO): H1 net profit down 31% YoY to RON 2.16m trimmed by declining top-line.

Farming equipment manufacturer Mecanica Ceahlau net profit fell 31% YoY to RON 2.16m in the first half of 2014 amid 27% lower net revenues YoY at RON 10.3m. The EBITDA landed at RON 3.44m, 22% lower YoY, with a margin of 33.3% vs. 31.2% in H1’13. The bottom line was further on trimmed by a net [...] >> mai mult >>

august 5, 2014

TLV RO: H1’14 unconsolidated IFRS bottom line of RON 212.1m, up 17.7% YoY, despite 82% higher net cost of risk YoY.

BANCA TRANSILVANIA (TLV RO): TLV posted today H1’14 unconsolidated IFRS set of results posting a bottom line of RON 212.1m, up 17.7% YoY and in line with our forecast at RON 213.1m, despite 82% higher net cost of risk YoY. Overall, we have to fine-tune our forecast and we will revert with [...] >> mai mult >>

august 5, 2014

NBR cut the key rate to 3.25%.

The National Bank of Romania lowered the monetary policy rate to 3.25% per annum from 3.50%, starting with today August 5, 2014. The Board of the National Bank of Romania also decided to pursue an adequate liquidity management in the banking system and to maintain the existing levels of minimum [...] >> mai mult >>

august 5, 2014

NSI: Romania’s retail turnover up 8.6 pct in H1, 2014.

Romania’s retail turnover volume (excluding trade in motor vehicles and motorcycles) in the first half of 2014 grew by 8.6%, gross series compared to the first half of 2013, and by 8.2% as adjusted series for the number of working days and seasonality, according to data released on Monday by [...] >> mai mult >>

august 5, 2014

Eurostat: Romania ranks 3rd in EU by June increase in industrial producer prices.

Greece, Sweden and Romania topped European Union rankings in terms of the increase recorded in industrial producer prices compared with the same period of 2013, in the context of a 0.8% drop recorded by this indicator for the Eurozone and the European Union, show data published on Monday by the [...] >> mai mult >>

august 1, 2014

BRD-GSG (BRD RO): BRD H1’14 unconsolidated IFRS bottom line of RON 122.9m, double YoY, supported by 25% lower net cost of risk amid declining revenues.

BRD-GSG (BRD RO): BRD reported today H1’14 unconsolidated IFRS set of results posting a bottom line of RON 122.9m, double YoY, supported by 25% lower net cost of risk amid declining revenues. Posted results stand broadly in line with our forecast on top-line while slightly lower then assumed [...] >> mai mult >>

august 1, 2014

Higher share for Romanian companies in MSCI’s Frontier Markets 100 Index might trigger higher inflows.

The weight of Romanian companies listed at Bucharest Stock Exchange (BVB) and included to MSCI Frontier Markets 100 Index will increase to 3.38 percent by November 2014, according to an announcement of the BVB. On July 30, 2014, Romania’s weight into MSCI Frontier Markets 100 Index was [...] >> mai mult >>

iulie 31, 2014

ERSTE BANK (EBS RO): Erste Group posts H1’14 net loss of EUR 929.7m, CET 1-ratio rises; improved asset quality.

Net interest income declined to EUR 2,243.6m, mainly due to the persistently low interest-rate environment and FX translation effects. Net fee and commission income increased to EUR 907.0m driven by the securities business and the net trading and fair value result rose to EUR 138.0m, while general [...] >> mai mult >>

iulie 31, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Impact to raise the share cap by RON 80m.

Romanian real estate company Impact Developer & Contractor announced said it will raise its share capital by RON 80m after investors subscribed for all the 80 million shares it offered in a capital increase. Existing shareholders subscribed for 66.64 million shares in the first stage of the [...] >> mai mult >>

iulie 31, 2014

Ministry of Finance: Financing risk dropped significantly - EUR 6.8bn in state reserves.

The state’s current foreign currency reserves are EUR 6.8 billion and covers 5.8 months of the gross financing demand for 2014, the Ministry of Public Finance (MFP) states in its Report on the Economic and Budget Situation for the First Six Month of 2014. According to Ministry of Public [...] >> mai mult >>

iulie 30, 2014

SIF OLTENIA (SIF5 RO): SIF5 shareholders approved today a gross dividend of RON 0.16 per share, implying a DY of 8.6% to the last closing price.

Dividend payment will start on 1st October, keeping the same distribution method as previous years. Registration date was set August 14th. Shareholders also approved 3 new members of the BoD. (Source: SIF Oltenia) [...] >> mai mult >>

iulie 30, 2014

ELECTRICA (EL RO): Electrica included in BET, BET-XT, BET-BK, BET-NG and BET Plus.

BET will include Electrica (EL) instead of SSIF Broker (BRK), BET-XT will include Electrica instead of Transilvania Constructii (COTR), BET-BK will include Electrica (EL) instead of Condmag (COMI), BET-NG will include Electrica (EL) instead of Energopetrol (ENP) and BET Plus will add Electrica (EL) [...] >> mai mult >>

iulie 30, 2014

BANCA TRANSILVANIA (TLV RO): Banca Transilvania sets the bond conversion price.

Banca Transilvania announced the price for converting its bonds into shares at 1.7862 RON. Recall that back in April-May, Banca Transilvania sold its entire offer of EUR 30m in seven-year convertible bonds. The bonds have a nominal value of 0.6 euro each. Bond-holders who wish to convert their debt [...] >> mai mult >>

iulie 30, 2014

NSI: Romania's residential building permits number up 7.3% YoY in June.

On a monthly basis, the number of issued residential building permits advanced by 6.6% in June. The total number of permits for residential buildings issued in the first half of 2014 was 17,749, up 2.0% YoY. In 2013, the number of permits issued for residential buildings in Romania edged down [...] >> mai mult >>

iulie 29, 2014

SIF MOLDOVA (SIF2 RO): SIF2 cashed in RON 3.5m on two litigations with SC Textila Oltul SA and Agroindustriala Piatra Ostrov SA.

SIF Moldova received RON 2.4m corresponding to the payment title issued by ANRP representing the value of the first annual installment of the total amount of RON 12.1m that is to be paid to SIF Moldova based on the compensation title obtained as a result of court settlement signed with SC Textila [...] >> mai mult >>

iulie 29, 2014

FSA: Romanian private pension funds' assets grow to RON 17.5bn at end-June.

The net assets under the management of Romania's private pension funds rose 18.4% YTD to RON 17.5bn at the end of June, or some 2.64% of the GDP projected for 2014, the Romanian financial supervision authority said on Monday. The number of contributors to Romania's mandatory [...] >> mai mult >>

iulie 29, 2014

NSI: Romania's business sentiment remains positive in July.

Romanian managers remained optimistic in their expectations about the performance of the country’s economy in the three months through September. Recall that in June, Romanian managers were also optimistic in their expectations about the economic situation in the country in the three months [...] >> mai mult >>

iulie 29, 2014

Finance Ministry: Romania sold RON 1.0bn in 1-yr T-bills and RON 687m in 10-yr T-notes due Feb 2025.

Romania sold out its entire offer of RON 1.0bn in one-year Treasury bills on Monday at an average yield of 1.93% compared to 2.52% achieved in the previous auction of one-year T-bills held last month. Romania also sold RON 687m in ten-year Treasury notes due on February 24, 2025, above its 500 [...] >> mai mult >>

iulie 29, 2014

Finance Ministry: Romania plans to issue RON 3.25bn, EUR 250m of debt paper in August.

In July, the country sold some RON 4.42bn in debt paper on the local market. The five-year euro-denominated bonds will be auctioned on August 11 and will mature on January 21, 2019. (Source: Finance Ministry) [...] >> mai mult >>

iulie 28, 2014

NUCLEARELECTRICA (SNN RO): Candu Energy signs agreement with China's CNPEC to build 2 nuclear reactors in Romania.

Candu Energy Inc. signed ON Friday a binding and exclusive cooperation agreement with China Nuclear Power Engineering Company, Ltd. (CNPEC) for the construction of CANDU Units 3 and 4 at the Cernavoda Nuclear Power Plant in Romania. Romania already has two operating CANDU 6 nuclear reactors, [...] >> mai mult >>

iulie 28, 2014

OMV PETROM (SNP RO): OMV Petrom sells 180,200 MWh natural gas on bourse.

Romania's top oil and gas group, OMV Petrom, has sold 180,200 MWh of natural gas at a price of 85.33 RON per MWh on the Romanian Commodities Exchange, BRM. The natural gas sold via the BRM on Thursday will be delivered between August 1 and September 1, BRM said in a statement posted on its [...] >> mai mult >>

iulie 28, 2014

Ministry of Finance: Romania H1 cons budget gap shrinks to 0.5% of GDP.

Romania's consolidated budget deficit shrank to 0.52% of the GDP projected for 2014 in the first half of the year from 1.05% a year earlier as revenue increased while spending edged down. Romania's consolidated budget gap shrank 47.6% on the year to RON 3.476bn in the [...] >> mai mult >>

iulie 25, 2014

FONDUL PROPRIETATEA (FP RO): FP completed the third buy-back programme.

The Fund Manager acquired 252,858,056 shares, equivalent to 2.02% of the Fund’s paid share capital, worth RON 205.4m and the average price stood at RON 0.8125 per share. The Fund Manager will request shareholder approval for the cancellation of the shares repurchased during the third buy-back [...] >> mai mult >>

iulie 25, 2014

Finance Ministry: Romania sold RON 300m in 5-year T-notes due Nov 2018.

Romania sold on Thursday its entire offer of RON 300m in five-year Treasury notes due on November 28, 2018, at an average yield on the bonds of 3.10%, compared to 3.32% achieved on June 16. This auction included, Romania has sold about RON 24.1bn and EUR 678.7m in government debt [...] >> mai mult >>

iulie 24, 2014

JP Morgan upgraded Romanian sovereign bonds to investment grade.

Romanian bonds will be included in JP Morgan’s GBI-EM Global Diversified Investment Grade index with a 2% weight. JPMorgan took this decision after S&P upgraded Romania’s sovereign rating to investment grade, in May this year. (Source: ZF.ro) [...] >> mai mult >>

iulie 24, 2014

OMV PETROM (SNP RO): OMV Petrom finalizes modernization of Petrobrazi refinery.

OMV Petroma announced the successful finalization of the modernization process of Petrobrazi refinery, performed during 2010-2014, with a total investment that amounted to cEUR 600m. The main target was to increase competiveness as now Petrom is able to process the entire Romanian crude production [...] >> mai mult >>

iulie 24, 2014

FONDUL PROPRIETATEA (FP RO): Revaluation reserves of coal CE Oltenia, ready in October.

The evaluation of CE Oltenia’a coal reserves, a preparatory stage of the listing process of the energy producer, will end in late October, so the 15% stake can be listed as early next year. Recall that the listing was originally scheduled for June, but the deadline has been postponed to the [...] >> mai mult >>

iulie 24, 2014

ANOFM: Romania end-June jobless rate falls to 4.87%.

Romania's unemployment rate edged down to 4.87% at the end of June from 4.90% a month earlier, the government's employment agency, ANOFM. The unemployment rate was also 0.09 percentage points lower than in June 2013. Romania's workforce is estimated at 9.3 million out of a population [...] >> mai mult >>

iulie 24, 2014

ASF: Pension funds should increase their direct investments.

Romanian private pension funds have investments worth RON 2.73bn in companies listed on the Bucharest bourse, including entities offering financial-banking services, the financial supervision authority, ASF, said on Tuesday. On June 30, private pension funds had investments worth RON [...] >> mai mult >>

iulie 22, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 10m own shares last week worth RON 8.7m.

Fondul Proprietatea repurchased 10m shares worth RON 8.76m during last week at an average price of RON 0.8486 per share. Up to date, the fund repurchased some 249.3m shares (98.62% of 3rd buy-back program started on March 27th) worth RON 202.5m at an average price of RON 0.8120 per share, ranging [...] >> mai mult >>

iulie 22, 2014

TRANSELECTRICA (TEL RO): Romania exports more energy in H1’14.

Romania’s energy exports amounted in the first six months to 3.6 TWh, up 86% YoY, according to data from the European Network of Transmission System Operators for Electricity (ENTSO-E), quoted by local media. Romania is represented in the association by Transelectrica. Bulgaria and Serbia were [...] >> mai mult >>

iulie 22, 2014

Romania's Hidroelectrica posts record-high H1 profit.

Romanian insolvent hydropower producer Hidroelectrica announced on Monday it posted a record-high first-half gross profit of RON 509m, up from RON 481m in the like period a year earlier. The good results came on the back of the company's successful strategy of cutting operating costs and financial [...] >> mai mult >>

iulie 22, 2014

Ministry of Finance: Romania sells RON 556.9m in 10-yr T-notes due June 2021.

Romania sold on Monday RON 556.9m in 10n-year Treasury notes at an average yield of 3.88% compared to 4.13% achieved on June 12. This auction included, Romania has sold some RON 23.8bn and EUR 678.7m in government debt paper on the domestic market so far this year, along with USD 2.0bn in 10-year [...] >> mai mult >>

iulie 21, 2014

ROMGAZ Medias (SNG RO): Romgaz will start paying 2013 dividends on July 28th via BRD-GSG.

The gross dividend is RON 2.57 per share, applicable withholding tax payable will be deducted prior to payment, at the legal rate. (Source: Romgaz) [...] >> mai mult >>

iulie 21, 2014

OMV PETROM (SNP RO): OMV Petrom and ExxonMobil start drilling Domino-2 well in Romanian Black Sea.

Data collected during the drilling program will be used to assess the size and commercial viability of the gas field discovered by the Domino-1 exploration well in 2012. The Domino-2 well is located approximately 200 kilometers offshore and is being drilled from the Ocean Endeavorrig in a water [...] >> mai mult >>

iulie 17, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): East Capital reduced the stake it holds in Impact by 4.16 %.

Salink Limited investment vehicle controlled by Swedish investment company East Capital has sold 8.2 million shares in Impact Developer (IMP) worth RON 7.9m. (Source: Impact) [...] >> mai mult >>

iulie 16, 2014

OMV PETROM (SNP RO): OMV Petrom finds new oil reservoir in the Black Sea.

Petrom, the largest oil and gas producer in South-Eastern Europe, found a new oil reservoir on the continental shelf of the Black Sea, according to a company announcement. The exploration well Marina 1 was drilled 60 km from shore, in Istria XVIII Perimeter, to a depth of about 2,150 meters below [...] >> mai mult >>

iulie 16, 2014

FONDUL PROPRIETATEA (FP RO): Fondul Proprietatea posted a NAV per unit of 1,2518 (+8.7% YoY) as H1 profit doubles YoY.

Fondul Proprietatea announced yesterday a H1’14 profit of RON 1.1bn compared to a profit of nearly 515 million lei in H1’13 supported by the sale of a 5% stake held in Romgaz last month. The fund's net asset value fell to some ron 14.85bn at the end of June vs. RON [...] >> mai mult >>

iulie 15, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 11.5m own shares last week worth RON 9.7m.

Fondul Proprietatea repurchased 11.5m shares worth RON 9.7m last week at an average price of RON 0.8478 per share. Up to date, the fund repurchased some 236.4m shares (93.48% of 3rd buy-back program started on March 27th) worth RON 191.4m at an average price of RON 0.8094 per share. The third [...] >> mai mult >>

iulie 15, 2014

BANCA TRANSILVANIA (TLV RO): Banca Transilvania raises capital via bonus issue.

TLV announced yesterday it increased its share capital by RON 352.7m to RON 2.559bn via a bonus issue. The bank converted part of last year's profit into equity and issued 352.7 million new bonus shares with a nominal value of 1.0 RON each. Every shareholder received 0.159 new [...] >> mai mult >>

iulie 15, 2014

NSI: Romania turns to c/a gap of EUR 351m in Jan-May, FDI up 13.9%.

Romania turned to a current account gap of EUR 351m in the first five months of 2014 from a surplus of EUR 191m a year earlier, mainly due to a wider income deficit. The income deficit rose by EUR 1.0bn on the year in the first five months of 2014. Foreign direct investments [...] >> mai mult >>

iulie 15, 2014

Ministry of Finance: Romania sold RON 500m in 5-year T-notes, yields fall.

Romania sold on Monday its entire offer of RON 500m in five-year Treasury notes due on June 24, 2019, at an average yield on the bonds of 3.30% compared to 3.935 achieved previously in June. Up to date, Romania has sold about RON 22.8bn and EUR 678.7m in government debt paper on the [...] >> mai mult >>

iulie 11, 2014

NSI: Romania's consumer prices edge down 0.3% MoM in June.

Romania's consumer price index (CPI) declined 0.27% on the month in June after staying flat a month earlier. Food prices edged down 0.74% on the month in June, mainly on a 5.5% fall in the prices of fresh and canned vegetables. Non-food prices edged up by a monthly 0.08% as fuel prices [...] >> mai mult >>

iulie 11, 2014

NSI: Romania Jan-May industrial output grows 10.1% YoY.

Romania's industrial output rose by 10.1% in the first five months of the year, while in May alone, the country's industrial output rose 2.6% on the month and was 13.3% higher on the year. The figures are seasonally- and working-day adjusted. (Source: National Statistics Institute) [...] >> mai mult >>

iulie 11, 2014

Romania's Jan-May trade gap widens 5.4% YoY.

Romania's trade gap widened to an estimated EUR 2.29bn in the first five months of the year from EUR 2.17bn a year earlier, while in May alone, Romania's trade deficit widened to EUR 534.5m from EUR 489.3m a year earlier. [...] >> mai mult >>

iulie 11, 2014

Ministry of Finance: Romania sold RON 400m in 3-year T-notes, yields fall.

Romania sold on Thursday its entire offer of RON 400m in three-year Treasury notes due on August 29, 2016, at an average yield of 2.32%, compared to 2.90% achieved on June 12. Thursday's auction included, Romania has sold some RON 22.2bn and 678.7m euro in government debt paper on the [...] >> mai mult >>

iulie 10, 2014

FONDUL PROPRIETATEA, CONPET (FP RO, COTE RO): Media – FP to sell its stake in Conpet.

According to local media, FP is preparing to sell the emtire stake it holds in carrier oil Conpet Ploiesti worth RON 125m, not only the 10% stake announced back in September 2013. Recall that over last month it sold stakes hold in Romgaz and Transelectrica worth more than RON 850m. Conpet placement [...] >> mai mult >>

iulie 10, 2014

ALRO Slatina (ALR RO): Alro unit wraps up RON 19m investment.

Romanian aluminium smelter Alro announced yesterday its subsidiary Vimetco Extrusion has completed a RON 19m investment aimed at boosting efficiency and competitiveness. The project, co-financed by the EU with a RON 7.0m grant, will lead to higher output and exports, the [...] >> mai mult >>

iulie 10, 2014

ROMGAZ Medias (SNG RO): Government - Romgaz sees 2014 gross profit at RON 1.5bn.

Romanian natural gas producer Romgaz expects its gross profit to reach RON 1.5bn in 2014. According to a statement published by the government on its website after approving the company's 2014 business plan, Romgaz targets revenues of RON 5.09bn and costs of RON 3.58bn this year. The [...] >> mai mult >>

iulie 10, 2014

NSI: Romania exports EUR 157m worth of beverages and tobacco in one quarter.

Romania exported beverages and tobacco worth some EUR 157.2m in the first quarter of 2014, EUR 25.8m higher than the one reported in the same period in 2013. The imports of beverages and tobacco stood at some EUR 100m in the first three months of this year, with EUR 3.6m over the level recorded in [...] >> mai mult >>

iulie 10, 2014

Romanian private pension funds reach EUR 4bn in assets.

Romania’s private pension funds, pillars two and three, reached net assets of EUR 4bn at the end of June 2014, with 6.5m individual accounts. The average return of the private pension funds was more than 12% in the last year, according to data released by the Romanian Pension Funds’ [...] >> mai mult >>

iulie 9, 2014

Fondul Proprietatea (FP RO) sold its entire stake in Transelectrica of 13.4990%, following the completion of the bookbuilding process for the private placement on the Bucharest Stock Exchange.

Fondul Proprietatea (FP RO) sold its entire stake in Transelectrica of 13.4990%, following the completion of the bookbuilding process for the private placement on the Bucharest Stock Exchange of the ordinary shares held by the Fund in C.N.T.E.E. Transelectrica S.A. (TEL RO), the final number of the [...] >> mai mult >>

iulie 9, 2014

Fondul Proprietatea (FP RO) updates shareholders with respect to the return of capital distributions, which will begin on 25 July 2014.

Starting with the said date, the shareholders registered in the Fund’s Shareholders’ Registry as at 30 April 2014 are entitled to request the above-mentioned distributions at any branch of the paying agent appointed by the Fund, namely BRD - Groupe Société [...] >> mai mult >>

iulie 8, 2014

According to INS, the country’s statistics institute, Romanian industrial sales rose 2.7% in May from a month earlier.

According to INS, the country’s statistics institute, Romanian industrial sales rose 2.7% in May from a month earlier, boosted by higher demand in all sectors. (Source: INS) >> mai mult >>

iulie 8, 2014

On Monday, Romania’s Finance Ministry raised a planned 400 million lei (EUR91.2 million) in a reopening of its seven-year bond due April 2020, with the average yield falling to 3.5% a year.

On Monday, Romania’s Finance Ministry raised a planned 400 million lei (EUR91.2 million) in a reopening of its seven-year bond due April 2020, with the average yield falling to 3.5% a year, the lowest level on record for such maturity. (Source:ZF) >> mai mult >>

iulie 8, 2014

Transgaz (TGN RO): The company will distribute dividends starting with July 29.

Transgaz (TGN RO): The company will distribute dividends starting with July 29, 2014 for shareholders registered at May 9 (Source:BSE) >> mai mult >>

iulie 8, 2014

On Monday, data from the country’s statistics institute INS showed that Romanian industrial new orders inched up 0.5% on the month in May .

On Monday, data from the country’s statistics institute INS showed that Romanian industrial new orders inched up 0.5% on the month in May, supported by growth in most sectors. (Source: INS) >> mai mult >>

iulie 8, 2014

Franklin Templeton the fund manager of Fondul Proprietatea S.A. (FP RO), announced shareholders and investors of the Fund’s intention to sell up to 9,895,212 of ordinary shares (the “Placing Shares”) it currently owns in C.N.T.E.E. Transelectrica S.

Franklin Templeton the fund manager of Fondul Proprietatea S.A. (FP RO), announced shareholders and investors of the Fund’s intention to sell up to 9,895,212 of ordinary shares (the “Placing Shares”) it currently owns in C.N.T.E.E. Transelectrica S.A. (TEL RO) on the Bucharest [...] >> mai mult >>

iulie 7, 2014

UDMR considers exit from government, unhappy with the minority rights.

UDMR considers to exit from government due to the intervention of the Ministry of Foreign Affairs (MAE) at the European Court of Justice about the rejection of the European Citizens' Initiative (ICE). Under these circumstances, UDMR would consider to exit the government, but a final decision would [...] >> mai mult >>

iulie 7, 2014

AMONIL Slobozia (AMO RO): Fiscal authorities seek Amonil insolvency.

Romanian producer of fertilisers and electricity Amonil said on Friday local fiscal authorities have requested the opening of insolvency proceedings against the company. Amonil can appeal the request, which was filed with a court in the southern Ialomita country, within 10 days, the company said in [...] >> mai mult >>

iulie 7, 2014

ERSTE GROUP BANK (EBS RO): Erste Group sees 2014 risk costs surging on higher provisions in Romania. Austria's Erste Group said it expects risk costs to rise to about EUR 2.4bn from the planned EUR 1.7bn in 2014 as a result of increased provisions in Hung

Increased risk provisions in Romania reflect recently increased efforts by the central bank, ahead of the ECB's asset quality review, to reduce non-performing loans (NPLs) in the banking system in an accelerated manner, and the implementation of lower recovery assumptions by Erste's local banking [...] >> mai mult >>

iulie 4, 2014

ELECTRICA (EL RO): Electrica to start trading today.

Intermediaries of the IPO have available up to RON 91m (4.75% of the IPO amount) to support Electrica’s price above the IPO price, 11 RON per share and 13.66 USD/GDP, respectively, in the first 30 days of trading. [...] >> mai mult >>

iulie 3, 2014

TRANSELECTRICA (TEL RO): Transelectrica to invest more than RON 5.5bn over next 10 years.

Transelectrica plans to invest over RON 5.5bn between 2014-2023, according to the Development Plan of the transmission grid for 10 years, approved on July 1 Committee National Regulatory Authority for Energy Regulation (ANRE). The plan will carry two types of investment: an expansion of the [...] >> mai mult >>

iulie 3, 2014

NSI: Romania revises Q1 GDP growth up to 3.9% YoY.

Romania's economy grew by 3.9% YoY in Q1’14, slightly faster than the 3.8% figure released last month. Based on seasonally-adjusted data, the first-quarter gross domestic product (GDP) expanded 0.2% QoQ, compared to 0.1% announced earlier. Calculated in current prices, Q1’14 [...] >> mai mult >>

iulie 3, 2014

NSI: Romania's Jan-May retail sales rise 7.8% YoY.

Romania's retail sales grew by 7.8% on the year in the first five months of 2014, while in May alone, the retail sales index rose 10.1% on the year and was 1.9% up MoM. The figures are seasonally and working-day adjusted and do not include trade with motor vehicles and motorcycles. [...] >> mai mult >>

iulie 3, 2014

NSI: Romania's May industrial PPI edges up 0.8% YoY.

Romania's May industrial producer price index (PPI) climbed 0.8% YoY and was 0.3% lower compared to the previous month. Industrial prices rose by an annual 0.8% on the domestic market and by 0.7% on the external market in May. In April, the PPI climbed 0.8% on [...] >> mai mult >>

iulie 2, 2014

SIF MOLDOVA (SIF2 RO): SIF2 to start paying the 0.066 RON gross dividend per share today.

SIF MOLDOVA (SIF2 RO): SIF2 to start paying the 0.066 RON gross dividend per share today. (Source: SIF Moldova) >> mai mult >>

iulie 2, 2014

NBR: Romanian c-bank keeps key rate at 3.5% but lowers minimum reserve ratio for foreign currency liabilities.

Romania's central bank on Tuesday decided to keep its monetary policy rate at 3.5% per year amid record-low inflation levels. The central bank, BNR, also decided to lower the minimum reserve requirement ratio on foreign currency-denominated liabilities of credit institutions to 16% from [...] >> mai mult >>

iulie 1, 2014

TRANSELECTRICA (TEL RO): ANRE oks 1.5% hike in power transmission tariff along with a 7.1% decline in system service tariff as of July 1.

The Romanian energy regulator, ANRE, has approved a 1.5% increase in the average price for electricity transmission to RON 22.50 per megawatt hour (MWh). The system service tariff will be lowered by 7.1% to 13.96 RON/MWh and the tariff for functional system services, which is a component [...] >> mai mult >>

iulie 1, 2014

Ministry of Finance: Romania plans to issue RON 4.1bn of debt paper in July.

In June, the country sold some 4.0 billion lei in debt paper on the domestic market. (Source: SeeNews.com) >> mai mult >>

iulie 1, 2014

NSI: Romania's business sentiment remains positive in June.

Romanian managers remained optimistic in their expectations about the performance of the country’s economy in the three months through August. In May, Romanian managers were also optimistic in their expectations about the economic situation in the country in the three months through July. In [...] >> mai mult >>

iunie 30, 2014

ELECTRICA (EL RO): Electrica raised EUR 444m via IPO in Bucharest and London.

Romania’s state owned electricity distributor Electrica raised around EUR 444m via the recently closed IPO (two times oversubscribed), valuing the company at EUR 870m, ranking the sixth largest Romanian company listed on the Bucharest Stock Exchange. The final allotment for GDRs/shares was not [...] >> mai mult >>

iunie 30, 2014

ELECTRICA (EL RO): EBRD and ING Financial group are the second and third largest shareholders.

On Friday, Energy Minister Razvan Nicolescu said that the European Bank for Reconstruction and Development has become the second-largest shareholder in Romanian state-run energy company Electrica SA after it purchased shares worth EUR 75m in the IPO ended June 25th. The third shareholder is ING [...] >> mai mult >>

iunie 30, 2014

FONDUL PROPRIETATEA (FP RO): Authorities reject the swap of the 22% packages the Fund holds in four Electrica subsidiaries.

Romanian state rejected Franklin Templeton proposal to swap the 22% stakes the Fund holds in four of Electrica’s subsidiaries, with Electrica shares. Fund representatives will start new negotiations over about 3 months after the change of Electrica ownership and administrators. Recall that [...] >> mai mult >>

iunie 27, 2014

Loans for the population and companies went down in May by 0.6 percent compared to April to RON 216.94 billion in the context of the lower loans in foreign currency expressed in domestic currency by 1.9 percent to RON 127.8 billion.

Loans for the population and companies went down in May by 0.6 percent compared to April to RON 216.94 billion in the context of the lower loans in foreign currency expressed in domestic currency by 1.9 percent to RON 127.8 billion, whereas the loans in domestic currency advanced by 1.2 percent to [...] >> mai mult >>

iunie 27, 2014

Romanian state-run drugmaker Antibiotice Iasi (ATB RO) will extend by one year its 60 million lei (some EUR13 million) credit line signed with EximBank in July 2013.

Romanian state-run drugmaker Antibiotice Iasi (ATB RO) will extend by one year its 60 million lei (some EUR13 million) credit line signed with EximBank in July 2013, according to a shareholders’ decision published Thursday. (Source: BVB) >> mai mult >>

iunie 27, 2014

The initial public offering of 51% in Romanian state-run energy company Electrica SA was twice subscribed.

The initial public offering of 51% in Romanian state-run energy company Electrica SA was twice subscribed, and the high number of bids received from retail investors has prompted the authorities to consider increasing the stake available in the segment by five percentage points. >> mai mult >>

iunie 26, 2014

Energy Ministry will hold today a news conference to announce pricing and results of Electrica IPO. The IPO for 51% of company stocks concluded on Wednesday.

Energy Ministry will hold today a news conference to announce pricing and results of Electrica IPO. The IPO for 51% of company stocks concluded on Wednesday. >> mai mult >>

iunie 26, 2014

The finance ministry said on Wednesday that Romania's consolidated budget deficit shrank to 0.24% of the gross domestic product (GDP) projected for 2014.

The finance ministry said on Wednesday that Romania's consolidated budget deficit shrank to 0.24% of the gross domestic product (GDP) projected for 2014 in the first five months of the year from 1.04% a year earlier as revenue increased while spending fell. Consolidated budget revenue rose 3.7% to [...] >> mai mult >>

iunie 26, 2014

On Wednesday, Garanti Bank Romania, a subsidiary of Turkey’s second largest bank Garanti Bankasi, said its five-year unsecured bonds issued earlier this month were admitted to trading on the Bucharest Stock Exchange.

On Wednesday, Garanti Bank Romania, a subsidiary of Turkey’s second largest bank Garanti Bankasi, said its five-year unsecured bonds issued earlier this month were admitted to trading on the Bucharest Stock Exchange. (Source: ZF) >> mai mult >>

iunie 25, 2014

Franklin Templeton, as fund manager of Fondul Proprietatea (FP RO) announced that according to the official interpretation of market watchdog distribution of profits, may not distribute dividends to shareholders.

The distribution of profits to shareholders is possible only when net asset value of the Fund is higher than share capital. As of December 31, total shareholders’ equity stood at RON 10.8bn, below share capital of RON 13.8bn, consequently no dividend distribution to shareholders is allowed at [...] >> mai mult >>

iunie 25, 2014

Nuclearelectrica (SNN RO) - ANRE approved a tariff increase for Nuclearelectrica.

Nuclearelectrica (SNN RO) - ANRE approved a tariff increase for Nuclearelectrica, taking into consideration the special construction tax that the company needs to pay this year, estimated at around RON 89m .Thus, for energy sold on regulated market the average power price was set at RON 154.07/MWh, [...] >> mai mult >>

iunie 24, 2014

Transelectrica (TEL RO): Transelectrica to start paying 2013 gross dividend of RON 2,228 RON per share on 26th of July.

Transelectrica (TEL RO): Transelectrica to start paying 2013 gross dividend of RON 2,228 RON per share on 26th of July. (Source:Transelectrica). >> mai mult >>

iunie 24, 2014

The initial public offering of 51% in state-run energy company Electrica SA has been fully subscribed two days before the completion date.

The initial public offering of 51% in state-run energy company Electrica SA has been fully subscribed two days before the completion date, according to market sources. The IPO through which Electrica sells 177.18 million shares at a price between 11 and 13.5 lei was fully subscribed by investors [...] >> mai mult >>

iunie 24, 2014

Romania’s Finance Ministry raised a planned 200 million lei (EUR45.48 million) on Monday, in a reopening of its 10-year bond due April 2023, at an average yield of 4.5% a year.

Romania’s Finance Ministry on Monday raised a planned 200 million lei (EUR45.48 million) in a reopening of its 10-year bond due April 2023, at an average yield of 4.5% a year, lower than at the previous auction. >> mai mult >>

iunie 24, 2014

On Monday, the country’s employment agency ANOFM showed Romania's unemployment rate inched down to 4.91% in May.

On Monday, the country’s employment agency ANOFM showed Romania's unemployment rate inched down to 4.91% in May, from 5.13% a month earlier. >> mai mult >>

iunie 24, 2014

The Government has approved the Emergency Ordinance for the amendment of the Fiscal Code which rules out the compulsory registration through legal representatives of the Romanian citizens living abroad who have fiscal obligations in Romania.

The Government has approved the Emergency Ordinance for the amendment of the Fiscal Code which rules out the compulsory registration through legal representatives of the Romanian citizens living abroad who have fiscal obligations in Romania, if these citizens live in a EU state or another state that [...] >> mai mult >>

iunie 23, 2014

NUCLEARELECTRICA (SNN RO): Economy Minister - China nears decision on nuclear investment in Romania.

Advanced negotiations between Romania and China on the construction of two nuclear reactors at Cernavoda should be concluded in the last part of this year, said Friday Constantin Nita, the minister of economy. Nita has met with the Chinese minister of energy Wu Xinxiong and with representatives of [...] >> mai mult >>

iunie 23, 2014

ANTIBIOTICE Iasi (ATB RO): Antibiotice to invest EUR 10m in expansion.

State-controlled drug maker Antibiotice plans to invest EUR 10m by the end of 2016 in a new production line for salves and suppositories, local media reported on Friday. The new products will be sold both on the local and foreign market, according to the company's general manager Ioan Nani. (Source: [...] >> mai mult >>

iunie 20, 2014

SIF TRANSILVANIA (SIF3 RO): Trade Registry registered yesterday the bonus share capital increase approved by shareholders in April.

The next step for SIF3 is to submit the required documents for the registration certificate issued by FSA and the registration of the share capital increase with the Central Depositary. (Source: SIF Transilvania) [...] >> mai mult >>

iunie 20, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Real estate company Impact plans RON 80m share capital hike.

Impact Developer&Contractor announced yesterday it plans to raise its share capital by RON 80m through a rights issue in order to support its investment program. The company will issue 80 million new shares with a par value of 1.0 RON each and will offer them to existing shareholders. The cash [...] >> mai mult >>

iunie 20, 2014

MFin: Romania sold RON 500m in 6-month T-bills.

Romania sold out its entire offer of RON 500m in six-month Treasury bills on Thursday. The average yield fell to 2.07% from 2.73% achieved in the previous auction of six-month government debt paper held in April. Up to date, Romania has sold some RON 21.2bn and EUR 678.7m in [...] >> mai mult >>

iunie 19, 2014

ELECTRICA (EL RO): Romanian energy minister talks to EBRD about long term investment.

Romania’s energy minister Razvan Nicolescu had a meeting with representatives of the European Bank for Reconstruction and Development (EBRD) in London, on Tuesday, June 18, to talk about EBRD’s participation to Electrica’s IPO and the possibility to become a long term investor in [...] >> mai mult >>

iunie 19, 2014

New Europe Property Investments (NEPI RO): NEPI project pipeline in Romania tops EUR 460m, to open two malls in 2014.

Real estate fund NEPI snnounced it has projects under development worth EUR 460m in Romania and plans to open two malls this year, in which it has invested a combined EUR 77.1m. The company plans to complete the Vulcan Value Centre in the Bucharest district of Rahova in Q3’14 and the first [...] >> mai mult >>

iunie 19, 2014

Gov’t approves social insurance contributions cut by 5%.

Romania to have second-lowest costs in region following this measure.The government approved during its meeting yesterday the draft law concerning the modification of the Fiscal Code, in the sense of lowering the social insurance contributions (CAS) by 5 percentage points on October 1, Ministry of [...] >> mai mult >>

iunie 18, 2014

Media: Romania's central-bank governator re-elected for five-year term.

Romania's parliament has voted in favour of giving central bank governor Mugur Isarescu another five-year mandate at the helm of the central bank. The legislature also voted on the composition of BNR's new board for the next five years, replacing three out of its nine members. The main objectives of [...] >> mai mult >>

iunie 18, 2014

Templeton announced the shares were

Romanian dairy producer Albalact announced it has named Stephane Batoux as new chief executive officer (CEO). Raul Ciurtin, who was performing the functions of a CEO and board manager until now, will remain at the head of the board of directors, the dairy specialist said in a statement. Stephane [...] >> mai mult >>

iunie 18, 2014

FONDUL PROPRIETATEA (FP RO): FP sold a 4.99% stake in Romgaz worth RON 644.6m.

Templeton announced the shares were priced at RON 33.5 per share and USD 10.32 in relation to disposals via dollar-denominated Global Depositary Receipts. The Fund has agreed to a 180 day lock-up period from the pricing of the Transaction. Following the transaction now the Fund holds enough cash to [...] >> mai mult >>

iunie 17, 2014

ELECTRICA (EL RO): Small retail subscribed 63% its tranche in the first day.

The number of subscriptions that will receive guaranteed allocation reached 4,650 out of a total of 10,000. Recall that there is 100% guaranteed allocation for first 10,000 subscriptions that cumulatively do not exceed 1,000 shares, based on a first-come first-served basis, up to a total of 10 [...] >> mai mult >>

iunie 17, 2014

ROMGAZ Medias, FONDUL PROPRIETATEA (SNG RO, FP RO): FP to reduce its stake in Romgaz by up to a 4.99% stake.

Templeton announced an accelerated bookbuild offering addressed solely to qualified investors and/or certain other investors of up to 19,243,000 existing shares in Romgaz. The Fund has agreed to a 180 day lock-up period from the pricing of the Transaction. Assuming all the shares available in the [...] >> mai mult >>

iunie 17, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 14.1m own shares last week.

Fondul Proprietatea repurchased 14.1m shares worth RON 11.4m between 10-13 June, at an average price of RON 0.8107 per share. Up to date, the fund repurchased some 197.4m shares (78.07% of 3rd buy-back program started March 27th) worth RON 158.7m at an average price of RON 0.8013 per share. The [...] >> mai mult >>

iunie 16, 2014

ELECTRICA (EL RO): Electrica IPO starts today.

Price range set at 11-13.5 RON per share; 13.5 RON/share for the small and large retail investors and the range for the institutional investors. The offer will last 8 working days, during 16th – 25th June. The IPO will have 3 tranches: 85% will be assigned to the institutional investors, 8% [...] >> mai mult >>

iunie 16, 2014

FONDUL PROPRIETATEA (FP RO): FP posted a 5-month profit of RON 557.1m, above the RON 51.5m loss a year ago supported mainly by the dividends cashed in.

The fund's NAV rose to RON 15.25bn at the end of May from RON 14.69bn at end-April (+3.8% MoM, +1.6% YoY) with the NAV per share at 1.2771 RON, up 4.5% MoM and +11.3% YoY. On monthly basis, listed holdings dropped 1.6% MoM (+39% YoY, -4.9% YTD) as unlisted inched 1.9% higher MoM (-24.5% YoY, -0.3% [...] >> mai mult >>

iunie 16, 2014

NBR: Romania current account gap widens 23.7% in Jan-Apr, FDI up 8.7%.

Romania's current account gap widened 23.7% to EUR  298m in the first four months of 2014, mainly due to a wider income deficit. The income deficit rose by EUR 878m on the year in the first four months of 2014. Foreign direct investments in Romania totalled EUR 785m through April, up [...] >> mai mult >>

iunie 16, 2014

NBR: Romania end-Apr foreign debt shrinks to EUR 94.5bn.

Romania's foreign debt narrowed to EUR 94.5bn at the end of April from EUR 96.1bn at the end of 2013. The end-April figure includes EUR 76.2bn in long- and medium-term foreign debt, compared to EUR 76.9bn at the end of 2013. The figure for the long- and medium-term foreign debt includes [...] >> mai mult >>

iunie 13, 2014

ELECTRICA IPO: Price range of 11-13.5 RON per share and guaranteed allocation for 1,000 shares subscribed.

Electrica listing prospectus was published yesterday. The offer will last 8 working days, during 16th – 25th June, at a price range set between 11–13.5 RON/share; 13.5 RON/share for the small and large retail investors and the range for the institutional investors. The IPO will have 3 [...] >> mai mult >>

iunie 13, 2014

IMF delays review of SBA with Romania.

The International Monetary Fund (IMF) said on Thursday a third review of the stand-by arrangement (SBA) with Romania has not be concluded and discussions with the local authorities will continue. Teams from the IMF and the European Commission (EC) visited Bucharest during June [...] >> mai mult >>

iunie 13, 2014

Romania sold RON 300m in 3-year T-notes and RON 500m in 10-year T-notes.

Romania sold on Thursday its entire offer of RON 300m in three-year Treasury notes due on August 29, 2016, at an average yield of 2.90%, below the 3.84% achieved two months ago, along with its entire offer of RON 500m in ten-year Treasury notes due June 11, 2021, at an average yield of 4.13%, below [...] >> mai mult >>

iunie 13, 2014

NSI: Romania's consumer prices stay flat Mom in May.

Romania's consumer price index (CPI) remained almost flat on the month in May after edging up 0.3% a month earlier. Annual inflation slowed down to a record low of 0.94% from 1.21% in April, as food prices sank 3.16% on the year. Food prices edged down 0.12% on the month in May, mainly on [...] >> mai mult >>

iunie 12, 2014

ELECTRICA IPO: With a price range of 11-13.5 RON per share, Electrica aims to raise at least EUR 435m in the IPO.

Romania's government set a price range of 11-13.5 RON per share (2.5-3.1 EUR/share) for the initial public offering (IPO) of state-owned power supplier and distributor Electrica. The IPO of a 51% stake in Electrica is expected to be wrapped up around June 26th with the company scheduled to be [...] >> mai mult >>

iunie 12, 2014

ANOFM: Romania end-Apr jobless rate falls to 5.13%.

Romania's unemployment rate edged down to 5.13% at the end of April from 5.56% a month earlier, according to the government's employment agency, ANOFM. The unemployment rate was also 0.16 percentage points lower than in April 2013. (Source: ANOFM) [...] >> mai mult >>

iunie 12, 2014

NSI: Romania Jan-Apr industrial output grows 9.5% YoY.

Romania's industrial output rose by 9.5% in the first four months of the year, while in April alone, the country's industrial output fell 0.3% on the month and was 5.9% higher on the year. The figures are seasonally- and working-day adjusted. (Source: National Statistics Institute) [...] >> mai mult >>

iunie 12, 2014

World Bank sees economic growth picking up in SEE in 2015.

Economic growth is expected to accelerate in the Southeast European (SEE) countries next year, the World Bank said in a regular report. For Romania it forecasts a GDP growth of 2.8%, followed by 3.2% in 2015 and 2.9% in 2016. (Source: SeeNews.com) [...] >> mai mult >>

iunie 11, 2014

ELECTRICA: Authorities to announce the IPO price today.

The final price has not yet been decided. According to media, it will be announced after the Government meeting today. Electrica IPO will run from June 16th to 25th, and the company's listing on Bucharest and London stock exchanges is estimated for July 3. (Source: Wall-Street.ro) [...] >> mai mult >>

iunie 11, 2014

FONDUL PROPRIETATEA (FP RO): FP buys back 27.3m shares in first week of June.

Fondul Proprietatea repurchased 27.3m shares equal to a 0.23% stake for RON 22.2m between 2-6 June, at an average price of RON 0.8120 per share. Up to date, the fund repurchased some 183.26m shares (72.48% of 3rd buy-back program started March 27th) worth RON 147.2m at an average price of RON 0.8005 [...] >> mai mult >>

iunie 11, 2014

ALUMIL ROM INDUSTRY (ALU RO): Alumil to start paying 2013 gross dividend of RON 0.64 RON per share on 1st of July

ALUMIL ROM INDUSTRY (ALU RO): Alumil to start paying 2013 gross dividend of RON 0.64 RON per share on 1st of July. (Source: Alumil) >> mai mult >>

iunie 10, 2014

TRANSGAZ Medias (TGN RO): Management convenes shareholders on 17th July to approve 2014 Guidance.

Reference date was set July 7th. (Source: Transgaz) [...] >> mai mult >>

iunie 10, 2014

TRANSELECTRICA Bucuresti (TEL RO): Supervisory Board approved the management plan presented by the Executive Board.

The Management Plan is correlated and develops the administration plan presented by the Supervisory Board and approved by the general meeting of shareholders. (Source: Transelectrica) [...] >> mai mult >>

iunie 10, 2014

ELECTRICA: EBRD considers the acquisition of Electrica shares in the IPO.

EBRD officials are considering investing in Electrica, stated Louis Borgo, senior banker the Department of energy in the EBRD. However, he added that no official decision was made yet. (Source: Economica.net) [...] >> mai mult >>

iunie 10, 2014

Romania and Bulgaria, the only new EU countries with foreign investments increases in 2013.

Foreign direct investments (FDI) in Central, East and Southeast Europe were hit by deleveraging, and the 11 newest EU member nations saw their FDIs drop by an average of almost two thirds, according to the latest FDI analysis conducted by the Vienna Institute for International Economic Studies [...] >> mai mult >>

iunie 6, 2014

ALBALACT (ALBZ RO): Dairy producer Albalact invests EUR 8.0m in upgrades.

Romanian dairy producer Albalact said it has invested some EUR 8.0m in upgrading and expanding its plant in Oiejdea, in the central county of Alba. The company installed new packaging lines for yougurt and milk at the plant. (Source: Albalact) [...] >> mai mult >>

iunie 6, 2014

NBR: Romania sold RON 800m in 1-year T-bills.

Romania sold out its entire offer of RON 800m in one-year Treasury bills on Thursday, at an average yield rose to 2.52% from 2.49% achieved on May 26. Including this auction, Romania has sold some RON 19.4bn and EUR 678.7m in government debt paper on the domestic market so [...] >> mai mult >>

iunie 6, 2014

Eurostat: Romania posts sharpest MoM drop in April retail sales in EU.

Romania recorded a 3.2% monthly drop in retails sales in April, marking the sharpest fall among all European Union member states. In annual terms, Romania posted a 4.6% rise in retail trade in April, Eurostat said in a statement. In EU28, retail sales edged up by a monthly 0.6% and [...] >> mai mult >>

iunie 5, 2014

PM Victor Ponta: Authorities want to privatize the Stock Exchange as several state companies.

Prime Minister, Victor Ponta, announced after a meeting with the London Stock Exchange and the Bucharest Stock Exchange that the expansion of privatization of state companies was discussed. He explained that, encouraged by the success of listings so far, the state decided to privatize as much of the [...] >> mai mult >>

iunie 5, 2014

NSI confirmed Q1’14 3.8% YoY (0.1% QoQ) economic growth - seasonally adjusted data.

The National Statistics Institute (NSI) confirmed the data regarding Romania’s economic growth in the first three months of this year, 3.8% compared to the same period of 2013, and 0.1% when compared to the last quarter of 2013. Higher contributions to GDP growth were recorded by the following [...] >> mai mult >>

iunie 5, 2014

TRANSELECTRICA (TEL RO): Transelectrica signed deal for construction of power link with Serbia.

Romania's power grid operator Transelectrica announced it has signed a contract worth RON 81.4m for the construction of a power interconnection line with Serbia. The 400-kilovolt line, which will link Romania’s Resita and the Serbian town of Pancevo, will have a total length of 131 [...] >> mai mult >>

iunie 5, 2014

Hidroelectrica cuts debts to RON 1.55bn or EUR 351m.

Romania's largest hydropower producer, Hidroelectrica, announced it has reduced its debts to RON 1.547bn at end-May from RON 4.337bn in June 2012 when it was first declared insolvent. As of May 31, the company had a positive cash flow of RON 68m. Authorities plan to float a 15% stake [...] >> mai mult >>

iunie 5, 2014

NSI: Investments in Romanian economy fall 7.4% YoY in Q1.

Investments in Romania's economy dropped by 7.4% on the year to RON 11.2bn in the first quarter of 2014. Investments in construction works accounted for 40% of all investments through March, while investments in machinery and transport made up 49.4%. (Source: National Statistics [...] >> mai mult >>

iunie 4, 2014

PM Victor Ponta: Electrica to invest IPO proceeds in power links with Moldova.

Romanian state-owned power distributor and supplier Electrica will invest the funds raised via its upcoming initial public offering (IPO) in improving the country's  power links with neighbouring Moldova, prime minister Victor Ponta said. Ponta's announcement comes as Romania's [...] >> mai mult >>

iunie 4, 2014

SIF OLTENIA (SIF5 RO): Management proposes either no dividend or a gross dividend of RON 0.16 per share (DY 8.8%).

Management convenes shareholders on July 28 to approve one of the two dividend proposals, no dividend or a gross dividend of RON 0.16 per share (payment starting with 1st October), along with the election of three directors in order to complete de BoD. The registration date for the shareholders [...] >> mai mult >>

iunie 4, 2014

NSI: Romania's Jan-Apr retail sales rise 7.2% YoY.

Romania's retail sales grew by 7.2% on the year in the first four months of 2014, while in April alone, the retail sales index rose 5.1% YoY and was 3.2% down MoM. The figures are seasonally and working-day adjusted and do not include trade with motor vehicles and motorcycles. (Source: National [...] >> mai mult >>

iunie 4, 2014

NSI: Romania's Apr industrial PPI edges up 0.8% YoY.

Romania's April industrial producer price index (PPI) climbed 0.8% YoY and was 1.2% higher MoM. Industrial prices rose by an annual 1.1% on the domestic market and by 0.3% on the external market in April. In March, the PPI fell by 1.2% on the year and was 0.2% [...] >> mai mult >>

iunie 3, 2014

BRD-GSG, BANCA TRANSILVANIA (BRD RO, TLV RO): Media - Romanian banks to remove provisioned NPLs from balance sheets.

Fully-provisioned non-performing loans (NPLs) worth some RON 6.0bn may be removed from Romanian banks' balance sheets in the next few months, local media reported on Monday quoting the head of the central bank's supervision department, Nicolae Cinteza. The central bank has launched an [...] >> mai mult >>

iunie 3, 2014

Ministry of Finance: Romania sold RON 600m in 5-year T-notes and RON 467.2m in 15-year T-bonds.

Romania sold on Monday its entire offer of RON 600m in five-year Treasury notes due on June 24, 2019, at an average yield of 3.93% compared to 4.11% achieved on May 15th. Romania also sold RON 467.2m in 15-year Treasury bonds due on July 26, 2027, above its RON 200m offer, at an average yield [...] >> mai mult >>

iunie 2, 2014

IMF: Romania’s economy, recovering slower than other countries.

Romania’s economy will return this year to the pre-crisis GDP level, but its recovery is slower than in other countries which were hit by the economic crisis. This is due to drawbacks in the absorption of EU funds, infrastructure, state companies, but with opportunities in areas such as energy [...] >> mai mult >>

iunie 2, 2014

ANRE: Household gas tariffs to increase by 2% as of July; another 3% hike set for October.

Romanian energy regulator ANRE stated on Friday that natural gas tariffs for household consumers will increase by 2% as of July 1 and by 3% as of October 1. (Source: ANRE) >> mai mult >>

iunie 2, 2014

MFin: Romania plans to issue RON 3.7bn of debt paper in June.

Romania plans to issue RON 3.715bn in government securities on the domestic market in June. In May, the country sold some RON 3.48bn in debt paper on the domestic market. (Source: Ministry of Finance) >> mai mult >>

iunie 2, 2014

Electrica aims to wrap up IPO by end-June.

Electrica is the leading distributor and supplier of electricity in Romania and one of the most important companies in the portfolio of the Department of Energy given its past record of high and stable revenues and dividends. Electrica intends to apply for the admission of the new shares to trading [...] >> mai mult >>

iunie 2, 2014

TRANSGAZ, OMV PETROM (TGN RO, SNP RO): Petrom, Exxon, Transgaz seal deal on Black Sea gas transport.

OMV Petrom and US-based Exxon, have recently signed an agreement according to which the natural gas produced from that field would be transported via the pipelines of Transgaz, minister delegate for energy Razvan Nicolescu said. Nicolescu denied rumours according to which the gas drilled from the [...] >> mai mult >>

mai 30, 2014

SIF OLTENIA (SIF5 RO): Management announced it will convene shareholders on June 3rd to discuss the 2013 dividend proposal.

The convening notice has not been published yet. (Source: SIF Oltenia) [...] >> mai mult >>

mai 29, 2014

Borza: Hidroelectrica will exit the second insolvency in May or June 2015.

Remus Borza, head of Euro Insol, says that the energy producer will exit insolvency in May or June 2015, and added that the second insolvency will last longer than the previous because the a new judge has to be designated and judicial holidays last 1st July – 31st of August 31. (Source: [...] >> mai mult >>

mai 29, 2014

OLTCHIM Rm. Valcea (OLT RO - insolvency): Deadline set in new privatization round for Romania’s largest chemical producer.

The deadline for submitting bids to take over Romania’s insolvent chemical producer Oltchim is June 6, according to economy minister Constantin Nita. In his opinion, the buyer has to keep the activity and develop the company. This is the second attempt to privatize Oltchim, after a failed one [...] >> mai mult >>

mai 29, 2014

NSI: Romania's residential building permits number falls 6.2% YoY in April.

On a monthly basis, the number of issued residential building permits advanced by 5.1% in April. In 2013, the number of permits issued for residential buildings in Romania edged down 0.2% to 37,776. (Source: National Statistics Institute) [...] >> mai mult >>

mai 29, 2014

NSI: Romania's business sentiment remains positive in May.

Romanian managers remained optimistic in their expectations about the performance of the country’s economy in the three months through July. In the industrial sector, production is seen rising while the number of employees and prices are expected to remain flattish through July. [...] >> mai mult >>

mai 28, 2014

Romania – the third most attractive country in the region for investors.

Romania has surpassed Hungary among the most attractive countries for foreign investment in Central and Eastern Europe (CEE) in 2014, ranking the third in the region, after Poland and the Czech Republic, and could rank 2nd in 2015 if it will keep the pace, according to the annual E&Y report [...] >> mai mult >>

mai 28, 2014

Media: Romania plans to list copper mine Cupru Min in 2015.

Romania plans to list on the Bucharest bourse state-owned copper mine Cupru Min next year, local media reported on Tuesday quoting economy minister Constantin Nita. Cupru Min, Romania's biggest copper mine, has estimated reserves of 900,000 tonnes of copper. The country has [...] >> mai mult >>

mai 28, 2014

IMF mission to arrive in Romania next week for third review of stand-by agreement.

A mission of the International Monetary Fund (IMF) will come to Bucharest on June 2 for the third review of the stand-by agreement, which was approved in September last year. One of the most important topics to be discussed with the Romanian authorities is the possibility to reduce the social [...] >> mai mult >>

mai 28, 2014

Mfin: Romania posts 0.28% budget deficit at four months.

Romania’s budget deficit stood at 0.28 percent of the Gross Domestic Product GDP in the first four months of the year, compared to 1.19 percent recorded in the same period of 2013, according to data from the Ministry of Finance. The consolidated budget revenues totalled RON 67.8 billion (EUR [...] >> mai mult >>

mai 27, 2014

OMV PETROM (SNP RO): Petrom will start paying 2013 RON 0.0308 gross dividend on June 5th via BRD.

OMV PETROM (SNP RO): Petrom will start paying 2013 RON 0.0308 gross dividend on June 5th via BRD. (Source: OMV Petrom) >> mai mult >>

mai 27, 2014

World Bank oks EUR 750m budget support loan for Romania.

The World Bank said its board approved a EUR 750m budget support loan for Romania, the first of a series of such operations loans included in the new Country Partnership Strategy (CPS) for 2014-2017. The new strategy outlines the World Bank’s cooperation with the government of [...] >> mai mult >>

mai 27, 2014

NBR: Romania sold RON 800m in 1-year T-bills.

Romania sold out its entire offer of RON 800m in one-year Treasury bills on Monday, at an average yield of 2.49% from 2.94% achieved in the previous auction of one-year T-bills held on April 3rd. Including this auction, Romania has sold some RON 17.4bn and EUR 678.7m in government debt [...] >> mai mult >>

mai 27, 2014

NBR: Romania's end-Apr M3 money supply rises 6.7% YoY.

Romania's M3, the broadest gauge of the country's money supply, increased by a nominal 6.7% YoY to RON 240.9bn at the end of April. On a monthly basis, Romania's M3 edged up 0.5% in April. In real terms, the M3 money supply was up 0.2% month-on-month and 5.5% higher on the year at the end [...] >> mai mult >>

mai 26, 2014

Macroeconomic confidence index, new historic maximum.

The macroeconomic confidence index for April 2014 reached a new historic maximum, reaching the value of 61.6 points (compared with 54.5 points registered in the previous month), shows CFA’s periodical survey on the perception of the macroeconomic evolution of Romania. The current business [...] >> mai mult >>

mai 26, 2014

Natural gas price for companies will not increase.

Moreover, minister delegate for Energy Razvan Nicolescu assures that the prices might go down in the upcoming months, by adopting the package proposed for public debate. The convergence process for the natural gas price for industry was created and the prices do not need to go up, as it was the [...] >> mai mult >>

mai 23, 2014

ELECTRICA 51% IPO to start on 10th of June and will last 10 days.

The IPO will last between 10th -23rd of June and aims to attract EUR 390m. The retail tranche will subscribe up to 1,000 shares, equivalent of EUR 3,600. For the first time, the state will ensure that first 10,000 retail investors will subscribe a minimum of 1,000 shares. Retail will also have a 5% [...] >> mai mult >>

mai 23, 2014

ERSTE GROUP BANK (EBS RO): Erste Group Bank, CEO, Andreas Treichl - Erste Group does not intend to expand heavily in Eastern Europe.

Business conditions for European banks could improve significantly in 2015 after a series of matters that regulators will be resolved in the next six months, said Wednesday the CEO of Erste Group Bank at the Annual General Meeting shareholders. Treichl said that Erste Group Bank intends to increase [...] >> mai mult >>

mai 23, 2014

NBR: Romania sold RON 500m in 7-year T-notes.

Romania on Thursday sold its entire offer of RON 500m in seven-year Treasury notes due on April 29, 2020, at an average yield of 4.29%, compared to 4.11% achieved earlier this month. This auction included, Romania has sold some RON 16.5bn and EUR 678.7m in government debt paper on the [...] >> mai mult >>

mai 22, 2014

Romanian mandatory private pension funds reach EUR 3.5bn in assets in six years.

Mandatory private pension funds, which were launched in Romania just six years ago, reached a total of 6.15 million participants and piled-up assets totaling EUR 3.5 billion, according to the Romanian Pension Funds’ Association (APAPR). Two thirds of total assets are placed in state treasury [...] >> mai mult >>

mai 22, 2014

Vice Pres Biden: US ready to help Romania develop energy sector.

The US are ready to help Romania develop its energy production and infrastructure in a bid to reduce its dependency on Russian gas, Vice President Joe Biden said on Wednesday. By upgrading its infrastructure, Romania can become a key point linking the energy markets from the Black Sea to [...] >> mai mult >>

mai 22, 2014

Eurostat: Romania posts EU's lowest average household gas prices in H2’13.

Romania posted lowest average household gas prices among EU member states in the second half of 2013, EUR 3.1/100 kWh, according to data released by the bloc's statistics office on Wednesday. The average gas price in the EU was 7.1 euro per 100 kWh in the second half of 2013. (Soure: [...] >> mai mult >>

mai 21, 2014

SIF OLTENIA (SIF5 RO): Media - dividends to be discussed at a future shareholders meeting.

SIF OLTENIA (SIF5 RO): Media - dividends to be discussed at a future shareholders meeting. (Source: ZF.ro) >> mai mult >>

mai 21, 2014

ELECTRICA IPO announcement to be made by end-May.

The announcement regarding the listing will be made by end-May, according to Gabriel Dumitrascu, head of the privatization of the Department of Energy in the Ministry of Economy. The exact date of the offer has not yet been announced. (Source: ZF.ro) [...] >> mai mult >>

mai 21, 2014

FONDUL PROPRIETATEA (FP RO): Trade Registry completed the registration of the current mandate of FTIML as Sole Administrator and Fund Manager of FP.

The Trade Registry has completed the registration of the Fund’s Ordinary General Shareholders’ Meeting Resolution no. 2/28 April 2014, whereby the shareholders approved the renewal/extension of the current mandate of FTIML as Sole Administrator and Fund Manager of the Fund, for a [...] >> mai mult >>

mai 21, 2014

FONDUL PROPRIETATEA (FP RO): FP buys back 17.5 mln shares.

Fondul Proprietatea repurchased ordinary shares equal to a 0.127% stake for RON 13.9m between May 12 and May 16. Fondul Proprietatea acquired 17.5 million shares at a price between 0.7894 and 0.7975 RON each. The fund plans to buy back up to 252.85m shares at a price between 0.2 - 1.5 RON each [...] >> mai mult >>

mai 20, 2014

Current IMF deal, the last one for Romania, says minister.

Romania’s current financial agreement with the International Monetary Fund (IMF) and the European Commission is definitely its last, said the country’s minister delegate for budget, Liviu Voinea, quoted by Agerpres. The loan agreement expires mid-2015. Romania started out with a EUR 20 [...] >> mai mult >>

mai 20, 2014

NBR: Romania sold RON 400m in 10-year T-notes.

Romania sold on Monday its entire offer of RON 400m in ten-year Treasury notes due April 26, 2023. The average yield on the bonds was 4.78%, compared to 5.26% achieved on April 7. This auction included, Romania has sold some RON 15.93bn and EUR 678.7m in government debt paper on the [...] >> mai mult >>

mai 20, 2014

Eurostat: Romania posts EU's highest monthly construction growth in March.

Romania posted the highest monthly increase of production in construction among EU member states in March 2014, by 10.3%. Slovenia ranked second among EU member states with a monthly increase of production in construction of 8.9% in March, while Bulgaria posted a decrease of 0.4%, compared to the EU [...] >> mai mult >>

mai 19, 2014

ALRO Slatina (ALR RO): Management continues the production costs reduction strategy.

The company has developed a new technology that could decrease the energy consumption by about 100 kWh/tonne of aluminum. The company has put into operation for industrial testing a new type of tank using cathode design. Alro targets to reduce the specific consumption of electricity, as well as [...] >> mai mult >>

mai 19, 2014

SIF OLTENIA, ARGUS Constanta (SIF5 RO, UARG RO): SIF5 acquired a 14% stake in Argus worth EUR 3.4m.

SIF Oltenia increaased its stake in Argus from 55.89% up to 69.93%. (Source: Argus) [...] >> mai mult >>

mai 16, 2014

S&P upgrades Romania's rating to investment grade.

Standard & Poor's Ratings Services Friday raised Romania's rating to a notch above junk status, citing the country's progress in reducing its external indebtedness. S&P raised its long- and short-term foreign and local-currency sovereign credit ratings on Romania to BBB-/A-3 from BB+/B. It [...] >> mai mult >>

mai 16, 2014

ROPHARMA Brasov (RPH RO): RoPharma bottom line landed 5.8% higher YoY at RON 2.8m.

ROPHARMA Brasov (RPH RO): Despite a slight decline in Q1’14 IFRS revenues YoY at RON 102.6m, in line with our forecast at RON 104.6m, the net financial profit of RON 0.1m supported the bottom line 5.8% higher YoY at RON 2.8m. Supported by a slightly improved cost structure, the EBITDA margin [...] >> mai mult >>

mai 16, 2014

Romania’s Q1’14 GDP +0.1QoQ and +3.8% YoY (signal estimate), EU’s highest annual GDP growth.

The National Institute of Statistics released today signal estimates for Romania’s Q1’14 economic growth posting a real GDP growth of 0.1% QoQ and 3.8% YoY, above market consensus at 4.1% YoY (seasonal adjusted data). Provisional data on Q1’14 GDP will be published on June 6th. [...] >> mai mult >>

mai 16, 2014

NBR: Romania sold RON 500m in 5-year T-notes, yields fall.

Romania sold on Thursday its entire offer of RON 500m in five-year Treasury notes due on June 24, 2019, at an average yield of 4.11%, compared to 4.59% achieved on April 14. Up to date, Romania has sold some RON 15.5bn and EUR 678.7m in government debt paper, along with USD 2.0bn in 10-year and [...] >> mai mult >>

mai 16, 2014

NBR: Romania end-March foreign debt shrinks to EUR 93.2bn.

Romania's foreign debt narrowed to EUR 93.2bn at the end of March from EUR 96.1bn at the end of 2013, including EUR 75.3bn in long- and medium-term foreign debt compared to EUR 76.9bn at the end of 2013. The figure for the long- and medium-term foreign debt includes government debt and [...] >> mai mult >>

mai 16, 2014

NBR: Romania turns to EUR 261m current account gap in Q1, FDI up 30% YoY.

Romania turned to a current account gap of EUR 261m in the first quarter of 2014 from a surplus of EUR 6.0m a year earlier, mainly due a wider income deficit. The income deficit rose by EUR 717m YoY in Q1’14. Foreign direct investments in Romania totalled EUR 570m through March, up [...] >> mai mult >>

mai 15, 2014

TRANSGAZ Medias (TGN RO): TGN posted a Q1’14 net profit of RON 248.8m, up 37% YoY, supported by 30% higher operating revenues.

Total revenues stood at RON 522.7m, up 15% YoY, supported by the higher tariffs. Opex rose by 3% YoY from RON 245.2m up to RON 253.4m, partly due to the new tax on special buildings introduced last year. (Source: Transgaz) [...] >> mai mult >>

mai 15, 2014

NUCLEARELECTRICA (SNN RO): Romania’s Nuclearelectrica Q1 net profit falls 30% YoY.

Nuclearelectrica, posted a Q1’14 net profit fell to RON 101.8m in the first quarter of 2014 from RON 145.3m a year earlier as revenues from the sales of electricity dropped 11% YoY to RON 433m for a similar amount of electricity sold (2.8 TWh), due to the much lower energy sale [...] >> mai mult >>

mai 15, 2014

FONDUL PROPRIETATEA (FP RO): FP posted a 3-month profit of RON 79m, significantly above the Q1’13 profit of RON 5.6m supported mainly by the proceeds from sale of assets.

The fund's NAV rose to RON 14.69bn at the end of April from RON 14.25bn at end-March (+3.1% MoM, -1.9% YoY) with the NAV per share at 1.2225 RON, up 3.5% MoM and +7.3% YoY. On monthly basis, listed holdings rose 6% MoM (+23.4% YoY, -3.4% YTD) as unlisted remained almost flat MoM (-25% YoY, -2.1% [...] >> mai mult >>

mai 15, 2014

SIF OLTENIE (SIF5 RO): HSBC Holding stake held in SIF Oltenia tops 5.0%.

UK's HSBC Holdings PLC raised its stake in Romanian investment fund SIF Oltenia to 5.02%. (Source: SIF Oltenia) >> mai mult >>

mai 15, 2014

EBRD sees Romania's GDP growth at 2.6% in 2014, 2.8% in 2015.

The European Bank for Reconstruction and Development (EBRD) has raised its forecast for Romania's 2014 economic growth to 2.6% from 2.4% projected earlier, slightly rising in 2015 to 2.8% driven by exports and a pick-up in domestic demand. However, the high level of NPLs (over 20% of total loans), [...] >> mai mult >>

mai 15, 2014

Eurostat: Romania posts second highest industrial production growth in the EU in March.

Romania’s 9.6% YoY growth in industrial production in March 2014 was the second highest in the European Union, according to data released by Eurostat. Only Luxembourg posted a higher increase in industrial production (13.5%). The average growth in industrial production for the 28 EU member [...] >> mai mult >>

mai 14, 2014

OMV PETROM (SNP RO): Petrom’s power business in red in 2014.

Romania's top oil and gas group, OMV Petrom, said on Tuesday it expects to face challenges in the gas sector and post a negative result from its power business this year. Gas demand in Romania is expected to further decrease which will lead to increased competition [...] >> mai mult >>

mai 14, 2014

BANCA TRANSILVANIA (TLV RO): TLV signed a USD 40m subordinated loan deal with a IFC subsidiary, part of the World Bank group.

Banca Transilvania said it signed the loan agreement with IFC CAPITALIZATION (SUBORDINATED DEBT) FUND L.P., which is managed by IFC Asset Management Company LLC, a subsidiary of International Finance Corporation (IFC). The loan matures in October 2023, the bank said in a statement filed with [...] >> mai mult >>

mai 14, 2014

NSI: Romania's Q1 construction output index falls 9.1% YoY.

In March alone, the construction output increased by 10.4% on the month and declined 4.2% on the year. The figures are seasonally and working-day adjusted, INS said in a statement. (Source: National Statistics Institute) [...] >> mai mult >>

mai 13, 2014

NSI: Romania's Q1 trade gap widens 3.8% YoY.

Romania's trade gap widened to an estimated EUR 1.12bn in the first three months of the year from EUR 1.08bn a year earlier. In March alone, Romania's trade deficit shrank to EUR 551.4m from EUR 570.2m a year earlier. Exports (FOB) rose 10.1% YoY in Q1’14 as imports (CIF) advanced by 9.6% YoY, [...] >> mai mult >>

mai 13, 2014

NSI: Romania Q1 industrial output grows 10.7% YoY.

Romania's industrial output rose by 10.7% in the first three months of the year as utilities and manufacturing output rose by 2.7% and 12.1%, repectively, in Q1’14 while mining output dropped 0.5% YoY. In March alone, the country's industrial output rose 1.1% on the month and was 11.6% higher [...] >> mai mult >>

mai 13, 2014

NSI: Romania's consumer prices edge up 0.3% MoM in April.

Romania's consumer price index (CPI) inched up 0.27% on the month in April after staying flat a month earlier, with non-food prices up 0.7% as dood prices and services prices edged down 0.06% MoM and 0.05% MoM, respectively. Annual inflation accelerated to 1.21% from 1.04% in March, INS said in a [...] >> mai mult >>

mai 13, 2014

NBR: Ministry of Finance: Romania sold 400m in 10-year T-notes.

Romania sold on Monday its entire offer of RON 400m in tenyear Treasury notes due on June 11, 2017. The average yield on the bonds was 3.95%, compared to 4.35% achieved a month ago. This auction included, Romania has sold some RON 15bn and EUR 678.7m in government debt paper on the domestic market [...] >> mai mult >>

mai 13, 2014

OMV PETROM (SNP RO) reported today Q1'14 IFRS set of results posting a bottom line of RON 1,075m (-19% YoY) as EBIT dropped 7% YoY mainly burdened by the new construction tax in Romania, with lower oil prices and deteriorated refining margins also impacti

On top line sales volumes decreased by 9% YoY due to lower oil sales, higher depreciation and increased operating expenses. Group Q1'14 EBIT dropped 7% YoY to RON 1,472m, impacted by G&P and R&M. With production broadly stable in the first quarter (-1% YoY) at 16.36m boe, with slightly [...] >> mai mult >>

mai 9, 2014

FONDUL PROPRIETATEA (FP RO): Shareholders structure as of April 30, reference date for the 0.05 RON cash distribution.

Romanian private individuals’ hold 20.77% of the paid-up share capital vs. 20.75% at end March, foreign individuals slightly reduced their holding from 5.82% to 5.73%, foreign institutional investors own 55.74% (55.80% at end-March) and Romanian institutional investors 9.29% (9.24% at [...] >> mai mult >>

mai 9, 2014

BANCA TRANSILVANIA (TLV RO): According to April shareholders’ decision, a number of 9.8m TLV shares will be allocated to bank’s executive managers and employees.

BANCA TRANSILVANIA (TLV RO): According to April shareholders’ decision, a number of 9.8m TLV shares will be allocated to bank’s executive managers and employees.(Source: Banca Transilvania) >> mai mult >>

mai 9, 2014

NBR: Romania sold RON 592.9m in 10-year T-notes.

Romania sold on Thursday RON 592.9m in ten-year Treasury notes due on June 11, 2021, above its RON 500m offer. The average yield on the bonds, with a residual maturity of 85 months, was 4.7% compared to 4.94% achieved on April 24. This auction included, Romania has sold some RON 14.5bn and EUR [...] >> mai mult >>

mai 8, 2014

BUCHAREST STOCK EXCHANGE (BVB RO): Despite stronger top line at RON 4.6m (+14% YoY), lower net financial income by 60% YoY trimmed the Q1’14 bottom line by 10% YoY down to RON 1.38m.

Q1’14 BVB turnover was supported by a 22% YoY higher value traded by shares and units of RON 2.34bn, while the turnover for bonds and government securities fell by 74% YoY to RON 37m, with the average daily turnover for shares, units, bonds and government securities rising up to RON 38.3m, up [...] >> mai mult >>

mai 8, 2014

ANTIBIOTICE Iasi (ATB RO): Management targets investments over EUR 40m over next 6 years.

The development plans aim at increasing the utilization rate of current production capacity, portfolio development and adaptation to modern therapeutics, which requires the creation of new production capacities. The company is currently working on 30 new products to be registered over the next 2-3 [...] >> mai mult >>

mai 7, 2014

BRD-GSG (BRD RO): BRD posted for Q1’14 a net profit of RON 37.5m, 2.8x higher compared to a profit of RON 13.3m in Q1’13 supported by a 30% YoY drop in the risk costs.

Overall, total revenues dropped to RON 602m, down 12% YoY, burdened by 9% lower core-income YoY amid a 13% YoY drop in NII to RON 375.6m, while fees and commission revenues stood almost flat YoY at RON 184.5m. Non-core revenues were slashed by 41% YoY to RON 42.2m amid declining FX income. Opex [...] >> mai mult >>

mai 7, 2014

BIOFARM Bucuresti, SIF Muntenia (BIO RO, SIF4 RO): SIF4 took over a 18.74% stake in BIO following the take over bid.

SIF Muntenia  acquired 18.74% of Biofarm shares in the takeover bid for 45.72% of the company, at a price of 0.305 RON/share worth RON 62.6m. (Source: Biofarm) [...] >> mai mult >>

mai 7, 2014

NBR: Romanian c-bank keeps key rate at 3.5%.

Romania's central bank decided on Tuesday to keep its monetary policy rate at a record-low of 3.5% per year, in line with analysts' expectations, amid low inflation rates and improvement in economic activity. The quarterly inflation report, approved by the central bank's board on Tuesday, projects [...] >> mai mult >>

mai 2, 2014

PM, Victor Ponta: A 15% stake in Portul Constanta will be listed on BSE.

He also stated that the listing procedure will be similar to that achieved in cases TRANSGAZ Transelectrica and Romgaz and that the government will leave the proceeds to the company for investments. (Source: Wall-Street.ro) [...] >> mai mult >>

mai 2, 2014

TURBOMECANICA (TBM RO): TBM reported Q1’14 results and posted a negative bottom line of RON 4.16m, 2.5x higher YoY, hurt by a 46% YoY drop in revenuies down to RON 5.25m.

Turbomecanica reported Q1’14 results and posted a net loss of RON 4.16m compared to a loss of RON 1.64m in Q1’13 burdened by a steeper decline on revenues side of 46% YoY down to RON 5.25m while opex was only reduced by 17% YoY. The net financial loss was reduced by 21% YoY to RON [...] >> mai mult >>

mai 2, 2014

Finance Ministry: Romania plans to issue RON 3.4bn of debt paper in May.

Romania plans to issue RON 3.4bn in government securities on the domestic market in May. In April, the country sold some RON 4.3bn in debt paper on the domestic market. (Source: SeeNews.com) [...] >> mai mult >>

aprilie 30, 2014

BANCA TRANSILVANIA (TLV RO): BT posted Q1’14 bottom line of RON 103.4m, up 22.5% YoY, despite 30% higher cost of risk YoY.

A steep 30% YoY drop in interest expenses supported the NII by 20% YoY to RON 275.9m, as net fees & commission income landed 14% higher YoY at RON 91.2m. Both core and non-core revenues advance of 18% YoY and 25% YoY, respectively, supported the pre-provision EBT by 26% YoY up to RON 123.5m. The [...] >> mai mult >>

aprilie 30, 2014

PM, Victor Ponta: Romania's economy expands by prelim 3.2% in Q1.

Victor Ponta is confirming what he previously mentioned in the previous week at the weekly meeting of the government, when he said that Romania records an economic growth for the first quarter, especially in industry, and higher collections to the budget than last year. BNR recorded consolidate [...] >> mai mult >>

aprilie 30, 2014

FONDUL PROPRIETATEA (FP RO): Mark Mobius - the discount reduction target of 15% depends on FP’s listing on the London Stock Exchange.

FP shareholders approved on Monday the secondary listing on London Stock Exchange, the share capital reduction, the 4th buy-back programme and Templeton’s extension of current mandate for 2 years. The new management contract with the Fund provides a higher management fee of about 25%, and more [...] >> mai mult >>

aprilie 30, 2014

SIF OLTENIA (SIF5 RO): Shareholders didn't approve the 2 dividend proposals.

SIF Oltenia joins SIF Banat Crisana (SIF1 RO) and SIF Muntenia (SIF4 RO) as shareholders conevened today did not approve any of the two gross dividend proposals, 0.16 RON per share as sugested by management and 0.21 RON per share requested by a group of shareholders. SIF Moldova is the only SIF out [...] >> mai mult >>

aprilie 30, 2014

ERSTE BANK (EBS RO): Erste Group posts Q1’14 net profit of EUR 103.3m, customer loan volume stable.

NII declined to EUR 1,123.9m mainly due to subdued loan demand in a persistently low interest rate environment and FX translation effects, while net fee and commission income rose slightly to EUR 452.1m driven by the securities business, the net trading and fair value result improved markedly to EUR [...] >> mai mult >>

aprilie 29, 2014

Romania's Hidroelectrica hopes to raise up to EUR 500m in IPO.

Remus Borza, the company's judicial administrator said the bourse listing of a 15% stake in hydro power producer Hidroelectrica is set to raise up to EUR 500m. Recall that state-controlled Hidroelectrica was placed back under a reorganisation procedure in February after last exiting insolvency [...] >> mai mult >>

aprilie 29, 2014

Finance Ministry: Romania Q1 cons budget gap shrinks to 0.14% of GDP.

Romania's first-quarter consolidated budget deficit shrank to 0.14% of the GDP projected for 2014 from 0.67% a year earlier as revenue increased while spending fell. Romania's consolidated budget gap shrank 77.8% YoY to RON 929m in the first quarter. Consolidated budget revenue rose [...] >> mai mult >>

aprilie 29, 2014

NSI: Romania's business sentiment remains positive in April.

Romanian managers remained optimistic in their expectations about the performance of the country’s economy in the three months through June. In the industrial sector, production and prices are seen rising while the number of employees is expected to remain roughly [...] >> mai mult >>

aprilie 29, 2014

NSI: Residential building permits up 5.2% YoY in March.

Romania issued 3,207 building permits for residential projects in March, up 5.2% YoY, while on a monthly basis, the number of issued residential building permits advanced by 46.6% in March. As many as 63.8% of the permits issued in March were for projects located in Romania's rural areas. (Source: [...] >> mai mult >>

aprilie 28, 2014

Moody's lifts Romania's ratings outlook to stable.

Moody's Investors Service raised its outlook on Romania's government bonds to stable, citing expectations of gross domestic product growth and a reduction in the European nation's fiscal deficit. The rosier outlook view puts Romania's Baa3 rating, the lowest investment-grade level, on firmer [...] >> mai mult >>

aprilie 28, 2014

SIF MOLDOVA (SIF2 RO): This is the last week to buy SIF Moldova shares in order to receive the RON 0.066 gross dividend (5.3% DY).

Recall that the registration date is May 5 and the last day to buy shares is April 29. >> mai mult >>

aprilie 28, 2014

FONDUL PROPRIETATEA (FP RO): Bucharest Court of Appeal ruled against the Fund.

Bucharest Court of Appeal ruled against the Fundin the legal action filed by the Fund against FSA for the endorsement of the Addendum no. 2 to the Investment Management Agreement. The Court’s decision is not final and may be subject to appeal. (Source: Fondul Proprietatea) [...] >> mai mult >>

aprilie 28, 2014

ANTIBIOTICE Iasi (ATB RO): Shareholders approved on Friday the gross dividend of 0.02302729 RON per share (3.8% DY), to be paid starting with October 15th.

ANTIBIOTICE Iasi (ATB RO): Shareholders approved on Friday the gross dividend of 0.02302729 RON per share (3.8% DY), to be paid starting with October >> mai mult >>

aprilie 28, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Shareholders approved on Friday the gross dividend of 1.1777 RON per share (4.1% DY), to be paid starting with June 2nd.

BURSA DE VALORI BUCURESTI (BVB RO): Shareholders approved on Friday the gross dividend of 1.1777 RON per share (4.1% DY), to be paid starting with June 2nd. (Source: BVB) [...] >> mai mult >>

aprilie 28, 2014

NUCLEARELECTRICA (SNN RO): Nuclearelectrica and China General Nuclear Power Corporation signed an addendum extending the duration of the Letter of Intent until December 31st, 2014.

The Letter of Intent signed in November 2013 established the framework for cooperation on project development. According to Daniela Lulache, Nuclearelectrica General Manager, “Extending the validity of the Letter of Intent confirms China General Nuclear Power Corporation’s interest in [...] >> mai mult >>

aprilie 25, 2014

COMELF Bistrita (CMF RO): Shareholders approved yesterday the gross dividend of 0.1099 RON per share, to be paid over the next 6 months.

COMELF Bistrita (CMF RO): Shareholders approved yesterday the gross dividend of 0.1099 RON per share, to be paid over the next 6 months. (Source: Comelf) [...] >> mai mult >>

aprilie 25, 2014

Razvan Nicolescu, Minister delegate for Energy: Hidroelectrica to overcome insolvency in late October, early November.

Recall that Hidroelectrica was insolvent for a year between June 20, 2012 and June 26, 2013, and that for two months it has been insolvent again. In February 2014, Hidroelectrica entered insolvency because the Court of Appeal admitted an appeal against its overcoming insolvency on grounds of [...] >> mai mult >>

aprilie 25, 2014

World Bank: 2.5%-3% economic growth for Romania in 2014, even higher.

The World Bank (WB) estimates that Romania will record in 2014 an economic growth between 2.5%-3%, possibly even higher, in case it will turn out to be a good agricultural year. Furthermore, the macroeconomic situation will continue to consolidate in the context of the program with IMF and EU, [...] >> mai mult >>

aprilie 25, 2014

NBR: Romania sold RON 500m in 10-year T-notes and RON 800m in 6-mo T-bills.

Romania sold on Thursday its entire offer of RON 500m in ten-year Treasury notes due on June 11, 2021, at an average yield of 4.94%, compared to 5.29% achieved on March 24. Romania also sold its entire offer of RON 800m in six-month Treasury bills at an average yield of 2.73% vs. 2.0% achieved on [...] >> mai mult >>

aprilie 24, 2014

Tax-free reinvested profit gets green light from Government.

The exempt status will be valid for investments made as of July 1 and will be retained by December 31, 2015. According to the draft law, the profit reinvested in producing or purchasing technical equipment, machines, appliances – employed with the purpose of getting taxable revenue, is exempt [...] >> mai mult >>

aprilie 23, 2014

OMV PETROM (SNP RO): OMV Group reported today Q1’14 results posting for Petrom slightly lower hydrocarbon production and gas sales volumes YoY.

OMV Petrom’s hydrocarbon production stood at 182,000 boe/day above the 181,000 boe/day in Q4’13 and the 183,000 boe/day realized production in Q1’13, accounting for 58.5% of total hydrocarbon production of the Group vs. 65.3% in Q4’13 and 60.6% in Q1’13. The weakened [...] >> mai mult >>

aprilie 23, 2014

SIF MUNTENIA, BANCA TRANSILVANIA (SIF4 RO, TLV RO): SIF Muntenia acquired a 4.07% stake in TLV from Bank of Cyprus.

According to a report sent to BVB, SIF4 acquired on Friday 90 million TLV shares at a price of RON 1.67 per share, in total worth of RON 150.3m. (Source: SIF Muntenia) [...] >> mai mult >>

aprilie 23, 2014

FONDUL PROPRIETATEA (FP RO): Last week FP acquired 9.95m shares worth RON 8m.

Up to date FP acquired 57.9m shares (22.9% of the targeted number of shares) worth RON 47.3m at an average price of RON 0.8185 per share. (Source: Fondul Proprietatea) >> mai mult >>

aprilie 22, 2014

Recall that the registration date is April 30 and the last day to buy shares is April 25. (Source: FP)

Banca Transilvania bought back some 1.18 million shares for a total of RON 2.14m between April 10 and April 16, at prices ranging from RON 1.7972 to RON 1.8077 per share. The buyback is part of a programme approved by the bank's shareholders in April 2013, under which it plans to repurchase 17.25 [...] >> mai mult >>

aprilie 22, 2014

FONDUL PROPRIETATEA (FP RO): This is the last week to buy shares in order to receive the RON 0.05 cash distribution.

Recall that the registration date is April 30 and the last day to buy shares is April 25. (Source: FP) >> mai mult >>

aprilie 18, 2014

Romanian banking sector's bad loan ratio up to 22.52% in February.

The share of non-performing loans in the credit portfolio of Romanian banks climbed to 22.52% in February from 19.05% a year earlier and compared to a bad loan
rate of 22.31% in January. The loan portfolio of Romanian commercial banks rose to RON 302.6bn at the end of February from RON 298.5bn [...] >> mai mult >>

aprilie 18, 2014

NSI: Romania's jobless rate rises 0.3pp to 7.3% in 2013.

Romania's unemployment rate rose to 7.3% in 2013 from 7.0% a year earlier. The number of unemployed in the country totalled an estimated 730,000 in last year, the statistics bureau said in a statement. The unemployment rate among men was 7.9% in 2013, compared to 6.6% among women. Romania has a [...] >> mai mult >>

aprilie 18, 2014

SIF TRANSILVANIA, COMCM Constanta (SIF3 RO, CMCM RO): SIF Transilvania to launch public offering for COMCM stake.

FSA announced that investment fund SIF Transilvania will launch a public offering for its stake in concrete producer COMCM. SIF Transilvania plans to sell 134 million shares with a nominal value of 0.1 lei per share, equal to a stake of 56.7% in COMCM. The selling price was set RON 0.2504 per share [...] >> mai mult >>

aprilie 18, 2014

BUCHAREST STOCK EXCHANGE (BVB RO): Management considers the opportunity of introducing new units of trading.

BSE plans to reduce the variety of trading units that apply to shares traded on the BSE and to reduce the trading units for some shares so that they become more accessible to investors. The units of shares applied to stocks will be reviewed periodically in order to be correlated with the dynamics of [...] >> mai mult >>

aprilie 17, 2014

FONDUL PROPRIETATEA (FP RO): FP posted a widened Q1’14 loss of RON 79m.

The first-quarter loss of Fondul Proprietatea deepened to RON 79m compared to a loss of RON 5.6m in Q1’13. The fund's net asset value fell to some RON 14.25bn at the end of March from RON 15.24bn lei a year earlier. (Source: Fondul Proprietatea) [...] >> mai mult >>

aprilie 17, 2014

FONDUL PROPRIETATEA (FP RO): Shareholders structure as of April 10, considered reference date.

Romanian private individuals’ hold 20.725 of the paid-up share capital, foreign individuals hold 5.77%, foreign institutional investors own 55.74% and Romanian institutional investors 9.24%. The total number of shareholders stands at 8,346. FP holds 8.5% of its own shares. (Source: Fondul [...] >> mai mult >>

aprilie 17, 2014

BURSA DE VALORI BUCURESTI (BVB RO): BVB published the shareholders’ structure as of end of March.

Romanian private individuals’ stake slightly decreased from 17.01% to 16.95%, while foreign individuals’ stake remained almost unchanged at 0.58%. Foreign institutional investors decreased their stake from 13.22% to 13.18% as Romanian institutional investors’ stake slightly [...] >> mai mult >>

aprilie 17, 2014

TRANSELECTRICA (TEL RO): Shareholders structure as of April 10, considered reference date.

Individuals’ hold 6.085, institutional investors own 21.73%, FP 13.5% and the Romanian authorities hold a 58.69% stake. The total number of shareholders is 5,062. (Source: Transelectrica) [...] >> mai mult >>

aprilie 17, 2014

Government: Electrica sees gross profit at RON 35.5m in 2014.

Romanian state-owned power supplier and distributor Electrica expects to post a gross profit of RON 35.5m in 2014. The power supplier, which posted a gross profit of 91.5 million lei in the first half of 2013, is yet to publish its full-year results. Electrica targets revenues of RON 564.3m and [...] >> mai mult >>

aprilie 17, 2014

NBR: Romania sold bonds worth EUR 1.25bn on international markets.

Romanian sold EUR 1.25bn in euro-denominated bonds with a maturity of ten years on international markets, at an yield of 3.7%. Romania last tapped international markets in January when it sold USD 2.0bn in 10-year and 30-year bonds. (Source: National Bank of Romania) [...] >> mai mult >>

aprilie 17, 2014

Romania to exempt from taxation reinvested profit as of July 1.

Romanian prime minister Victor Ponta said Romania will exempt from taxation reinvested profit as of July 1. The draft emergency ordinance has been published on the finance ministry website for public debate. (Source: Finance Ministry) [...] >> mai mult >>

aprilie 16, 2014

SIF BANAT CRISANA (SIF1 RO): Shareholders approved no dividend distribution for a second year.

SIF BANAT CRISANA (SIF1 RO): Shareholders approved no dividend distribution for a second year. (Source: SIF Banat Crisana) >> mai mult >>

aprilie 16, 2014

SIF MUNTENIA (SIF4 RO): Shareholders approved the first year with no dividend distribution.

SIF MUNTENIA (SIF4 RO): Shareholders approved the first year with no dividend distribution. (Source: SIF Muntenia) >> mai mult >>

aprilie 16, 2014

SIF MOLDOVA (SIF2 RO): Shareholders approved a 37.7% payout and a gross dividend of 0.066 RON per share.

Recall that management announced two dividend proposals, one was for a gross dividend of 0.066 lei which corresponds to a pay-out ratio of 37.7% and the other was for a gross dividend of 0.078 lei per share, which corresponds to a pay-out ratio of 44.6%. (Source: SIF Moldova) >> mai mult >>

aprilie 16, 2014

SIF MUNTENIA, PROSPECTIUNI (SIF4 RO, PRSN RO): SIF4 requires Prospectiuni to pay dividends from last year profit.

SIF Muntenia, holding a 11.83% stake in Prospectiuni amended the convening notice with 2 requests, one referring to dividend payment and the other one to a report on the activity of branches abroad. (Source: Prospectiuni) >> mai mult >>

aprilie 16, 2014

FONDUL PROPRIETATEA, NUCLEARELECTRICA (FP RO, SNN RO): FP wants the cancelling of SNN shareholders decisions on Tarnita project and energy export to Turkey.

Minority shareholder in Nuclearelectrica (SNN), FP required the court to cancel shareholders decisions to participate in Tarnita share capital with RON 8.9m and the one on undersea cable to export electricity to Turkey. (Source: Bursa.ro) >> mai mult >>

aprilie 15, 2014

FONDUL PROPRIETATEA (FP RO): Salrom a very good candidate for listing on BSE.

FP wishes to sell on the Bucharest Stock Exchange a 10% stake in the national manufacturer of salt Salrom, according to sources with the Ministry of Economy. FP holds a 49% stake in the company and the state, through the Ministry of Economy, holds a majority stake of 51%. Our sources said that FP [...] >> mai mult >>

aprilie 15, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 10.9m shares last week worth RON 8.9m at an average price of RON 0.8132/share.

Up to date FP acquired 47.9m shares worth RON 39.2m at an average price of RON 0.8185 per share. (Source: Fondul Proprietatea) >> mai mult >>

aprilie 15, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Shareholders approved the share capital increase by RON 80m up to RON 277.87m.

Shareholders approved the share capital increase up to RON 277.87m through the issue of 80 million new shares at a price of 0.1 RON each, equal to their nominal value. (Source: Impact) [...] >> mai mult >>

aprilie 15, 2014

NBR: Romania sold RON 500m in 5-year T-notes, yields fall.

Romania sold on Monday its entire offer of RON 500m in five-year Treasury notes due on June 24, 2019. The average yield on the bonds, with a residual maturity of 62 months, was 4.59%, compared to an average yield of 4.94% achieved on March 17. Monday's auction included, up to date Romania has [...] >> mai mult >>

aprilie 14, 2014

BANCA TRANSILVANIA (TLV RO): TLV acquired 1m shares worth RON 1.8m during 2-9 April.

Up to date, Banca Transilvania redeemed 8.38m own shares (83.8% of the targeted number of shares) in total worth of RON 14.4m. This is the second part of a buy-back program, targeting to redeem a total of 17m shares as approved back in April 2013. (Source: Banca Transilvania) [...] >> mai mult >>

aprilie 14, 2014

BANCA COMERCIALA CARPATICA (BCC RO): Media – Carpatica bank to seek candidate for merger.

Shareholders approved on Thursday management proposal of considering a merger and rejected the request made by Ilie Carabulea and Corneliu Tanase on replacing the executive team. In September, the bank said it was seeking to attract a strategic investor to finance a capital increase of between 10 [...] >> mai mult >>

aprilie 14, 2014

Romania's Hidroelectrica cuts debt to banks to EUR 282m.

Romania's largest hydropower producer, Hidroelectrica, said on Friday it has reduced its liabilities to banks to EUR 282m from EUR 841 million euro in June 2012 when it was declared insolvent. Between April 1 and December 31 the company's liabilities will decrease by 77 million euro to 203 million [...] >> mai mult >>

aprilie 14, 2014

NBR: Romania turns to current account gap in Jan-Feb, FDI up 35.6% YoY.

Romania turned to a current account gap of EUR 102m in the first two months of 2014 from a surplus of EUR 177m a year earlier, mainly due to higher income and wider trade deficits. The current account balance was also negatively influenced by a decrease in current transfers surplus. Foreign direct [...] >> mai mult >>

aprilie 14, 2014

NBR: Romania end-February foreign debt shrinks to EUR 94.1bn.

Romania's foreign debt narrowed to EUR 94.1bn at the end of February from EUR 96.1bn at the end of 2013. The end-February figure includes EUR 76.55bn in long- and medium-term foreign debt, compared to EUR 76.89bn at the end of 2013. The figure for the long- and medium-term foreign debt includes [...] >> mai mult >>

aprilie 11, 2014

OMV PETROM (SNP RO): OMV Petrom starts building laboratory at research institute.

OMV Petrom said it has started the construction of the main building designed for the laboratory and the core storage facility of its Institute for Research and Technological Design. The investment for the upgrade of the institute, which also includes the modernization of the laboratory equipment [...] >> mai mult >>

aprilie 11, 2014

ELECTRICA IPO similar to Romgaz, shares listed in Bucharest and GDRs in London.

Under the agreement concluded with the IMF to IPO ​​should take place in the first 10 days of June. Government plans to raise between USD 800m – USD 1bn in the initial public offering (IPO) and state representatives stated that the value of the offer on BSE might reach USD 250m. Recall [...] >> mai mult >>

aprilie 11, 2014

NBR: Romania sold RON 500m in three-year T-notes.

Romania sold on Thursday its entire offer of RON 500m in three-year Treasury notes due on August 29, 2016. The average yield on the bonds, with a residual maturity of 29 months, was 3.84%, compared to an average yield of 3.92% achieved on January 6. Up to date, Romania has sold some RON 11.93bn and [...] >> mai mult >>

aprilie 11, 2014

NSI: Romania's consumer prices stay flat MoM in March.

Romania's consumer price index (CPI) inched up by a mere 0.03% MoM in March after rising 0.33% a month earlier. Annual inflation slowed down to 1.04%, from 1.05% in February. (Source: National Statistics Institute) [...] >> mai mult >>

aprilie 10, 2014

SIF BANAT CRISANA, SIF MOLDOVA (SIF1 RO, SIF2 RO): SIF Banat Crisana announced the cassation of the assignment of rights and obligations concluded with SIF Moldova.

Back in August 2013 the 2 SIFs agreed the divestiture by SIF1 of a 49.96% stake in SAI Muntenia Invest in favor of SIF2. The agreement was concluded under the condition of precedent approval by the FSA. Recall that in March 2014 FSA rejected SIF2’s request. (Source: SIF Banat Crisana) [...] >> mai mult >>

aprilie 10, 2014

FARMACEUTICA REMEDIA (RMAH RO): Shareholders approved a gross dividend of RON 0.015 per share, DY at 5.4%.

Shareholders’ approved yesterday a 52.81% payout ratio from 2013 profits and a gross dividend of RON 0.015 per share to be paid between 1st Aug - 9th Oct. Registration date was set April 29th. (Source: Farmaceutica Remedia) [...] >> mai mult >>

aprilie 10, 2014

BERMAS Suceava (BRM RO): Shareholders approved a gross dividend of RON 0.055 per share, DY at 4.9%.

Shareholders’ approved yesterday a 86.1% payout ratio from 2013 profits and a gross dividend of RON 0.055 per share to be paid in 6 month starting with the 1st of June. Registration date was set April 30th. (Source: Bermas) [...] >> mai mult >>

aprilie 10, 2014

ARTEGO Tg. Jiu (ARTE RO): Shareholders approved a gross dividend of RON 0.3571 per share, DY at 3.9%.

Shareholders’ approved yesterday the payment of a gross dividend of RON 0.3571 per share in the next 180 days. Registration date was set April 28th. (Source: Artego) [...] >> mai mult >>

aprilie 10, 2014

THR MAREA NEAGRA (EFO RO): Shareholders approved no dividend distribution.

THR MAREA NEAGRA (EFO RO): Shareholders approved no dividend distribution. (Source: THR Marea Neagra) >> mai mult >>

aprilie 10, 2014

NSI: Romania's Jan-Feb trade gap widens 11.6%.

Romania's trade gap widened to an estimated EUR 566m in the first two months of the year from EUR 507.2m a year earlier. In February alone, Romania's trade deficit advanced to EUR 314.8m from EUR 208.4m a year earlier. (Source: National Statistics Institute) [...] >> mai mult >>

aprilie 9, 2014

FONDUL PROPRIETATEA (FP RO): FP new paid share capital of RON 13.17bn.

The Fund Manager informs that as of 7 April 2014, the new value of the Fund’s paid share capital is of RON 13,174,101,815, as a result of the set-off between the value of the Romanian State’s unpaid share capital towards the Fund and the value of the newly received shares by the Fund [...] >> mai mult >>

aprilie 9, 2014

ALRO Slatina (ALR RO): Alro invested over USD 100m in projects related to environmental protection.

Management targeted the decrease of energy consumption, of total level of emissions and of industrial water consumption. Furthermore, the company implemented the management system for environmental, health and safety and received the certification to confirm the compliance with the European and [...] >> mai mult >>

aprilie 8, 2014

FONDUL PROPRIETATEA (FP RO): FP acquired 12.8m shares last week at an average price of RON 0.8233/share.

Total transactions reached RON 13.4m. (Source: Fondul Proprietatea) [...] >> mai mult >>

aprilie 8, 2014

Romania sold RON 200m in 10-year T-notes.

Romania on Monday sold out its entire offer of RON 200m in ten-year Treasury notes due on April 26, 2023. The average yield on the bonds, with a residual maturity of 109 months, was 5.26% vs. an average yield of 5.3% achieved on March 10. Up to date, Romania has sold some RON 11.42bn and EUR [...] >> mai mult >>

aprilie 7, 2014

SIF MUNTENIA, BIOFARM (SIF4 RO, BIO RO): SIF4 to launch a mandatory takeover bid to acquire 45.72% of Biofarm.

SIF Muntenia offers to buy 500.56 million Biofarm shares at a price of 0.3050 RON per share during 9-30 April. SIF Muntenia and SIF Banat Crisana, acting in a concerted manner, hold a combined 54.28% stake in Biofarm. (Source: SIF Muntenia) [...] >> mai mult >>

aprilie 7, 2014

Romanian banks bad loan ratio climbs to 22.31% in January.

The share of non-performing loans in the credit portfolio of Romanian banks climbed to 22.31% in January from 18.69% a year earlier. The bad loan rate stood at 21.87% in December, the Romanian central bank said in a monthly report. The loan portfolio of Romanian commercial banks rose to RON 301.7bn [...] >> mai mult >>

aprilie 4, 2014

TURISM FELIX (TUFE RO): Shareholders approved a gross dividend of RON 0.0042 per share, DY at 2.5%.

Shareholders approved a 55% payout from 2013 profits, implying a dividend of RON 0.0035 per share and a 2.1% yield to last closing price. Registration date was set April 18th. (Source: Turism Felix) [...] >> mai mult >>

aprilie 4, 2014

DAFORA Medias (DAFR RO): Dafora plans to turn to profit in 2014.

According to the guidance proposed by the management Dafora targets a net profit of RON 26.9m this year vs. a preliminary net loss of RON 103m in 2013, with sales of RON 212m. The company plans to invest RON 6.7m to upgrade its drilling equipment. The shareholders are convened to vote on the [...] >> mai mult >>

aprilie 4, 2014

PROSPECTIUNI Bucuresti (PRSN RO): Management targets to open subsidiaries in 4 African states.

Shareholders are convened on April 29 to vote on the proposal of opening offices in Angola, Egypt, Kenya and Namibia. (Source: Prospectiuni) >> mai mult >>

aprilie 4, 2014

Romania sold RON 1.0bn in 1-year T-bills and RON 500m in 10-year T-notes.

The 1-year T-bills average yield rose to 2.94% from 2.88% achieved in the previous auction of one-year T-bills held on March 27. The T-bills will mature on March 30, 2015. The average yield on the 10-year T-notes, with a residual maturity of 38 months, was 4.35%. Including Thursday's auction, [...] >> mai mult >>

aprilie 3, 2014

BANCA TRANSILVANIA (TLV RO): EIB mulls EUR 150m loan to TLV.

The European Investment Bank (EIB) said it is considering lending EUR 150m to Banca Transilvania for small and medium enterprises (SME) and other priorities. The loan would support the small and medium-scaled ventures carried out by SMEs, Mid-Caps and public sector entities, intermediated through [...] >> mai mult >>

aprilie 3, 2014

NSI: Romania's economy expands 5.4% YoY in Q4 (revised data).

Romania's economy grew by an annual 5.4% in the fourth quarter of 2013. Last month, the statistics office issued provisional figures according to which the country's annual economic growth in the last quarter of 2013  was 5.2%. For the whole year, the country's economic growth stood at 3.5%, [...] >> mai mult >>

aprilie 3, 2014

NSI: Romania's retail sales index up 7.5% YoY in February.

On a monthly basis, retail sales in the country gained 1.3% in February. The figures are seasonally and working-day adjusted and do not include trade with motor vehicles and motorcycles. (Source: National Statistics Institute) [...] >> mai mult >>

aprilie 3, 2014

NSI: Romania's February industrial PPI falls 1.2% YoY.

Romania's February industrial producer price index fell by 1.2% YoY and edged down 0.2% compared to the previous month. In January, the PPI dropped by 0.6% on the year and rose by 0.5% on the month. (Source: National Statistics Institute) [...] >> mai mult >>

aprilie 2, 2014

SIF TRANSILVANIA (SIF3 RO): SIF Transilvania set up a company to buy Oltchim.

SIF Transilvania in association with other investors set up SIF Transilvania Project Management Company, which will participate in Oltchim privatization. SIF3 requested on Friday that the deadline for submission of tenders to purchase Oltchim be delayed by 60 days. The same request was made by [...] >> mai mult >>

aprilie 2, 2014

NUCLEARELECTRICA (SNN RO): Arcelormittal Galati canceled Nuclearelectrica power supply deal.

Nuclearelectrica announced yesterday that local steel mill Arcelormittal Galati has decided to terminate as of April 1 an existing power supply contract between the two companies. Under the deal signed in February 2013 Arcelormittal Galati was to purchase 1.86 terawatt-hours of electricity for RON [...] >> mai mult >>

aprilie 2, 2014

NSI: Romania's Feb jobless rate falls 0.1% MoM to 7.2%.

Romania's unemployment rate fell to 7.2% in February from 7.3% a month earlier, but was flat on the year. The figures are seasonally-adjusted. (Source: National Statistics Institute) >> mai mult >>

aprilie 2, 2014

NBR: Romanian c-bank FX reserves fall to EUR 31.28bn at end-March, down from EUR 31.65bn in Feb.

Foreign exchange inflows totalled EUR 1.73bn, as outflows totalled EUR 2.11bn last month. The gold reserves of the central bank stayed unchanged at 103.7 tonnes in March and were worth EUR 3.13bn at current international prices. In April, the payments due on public and publicly guaranteed foreign [...] >> mai mult >>

martie 31, 2014

SIF OLTENIA (SIF5 RO): Shareholders proposed a higher payout and a gross dividend of 0.21 RON per share (DY of 10.8%).

A group of shareholders proposed a higher payout ratio of 93.72% vs. 71.405 as proposed by management previously, implying a gross dividend of 0.21 RON per share and a 10.8% yield compared to a gross dividend of 0.16 RON per share implying a 8.2% yield. (Source: SIF Oltenia) [...] >> mai mult >>

martie 31, 2014

ELECTROMAGNETICA Bucuresti (ELMA RO): SIF2 increased its stake in ELMA from 4.99% to 5.0029%.

ELECTROMAGNETICA Bucuresti (ELMA RO): SIF2 increased its stake in ELMA from 4.99% to 5.0029%. Source: Electromagnetica) >> mai mult >>

martie 31, 2014

NBR: Romanian c-bank keeps key rate at 3.5%.

Romania's central bank decided on Friday to keep its monetary policy rate at 3.5% per year. Also, the central bank also decided to maintain the existing levels of minimum reserve requirement ratios on both leu-denominated and foreign currency-denominated liabilities of credit institutions. The [...] >> mai mult >>

martie 28, 2014

IMF provides EUR 436.3m tranche to Romania under SBA.

The International Monetary Fund (IMF) said its executive board completed the first and second reviews of Romania’s performance under its economic programmе supported by a 24-month precautionary stand-by arrangement (SBA), making available for disbursement about EUR 436.3m. This brings the [...] >> mai mult >>

martie 28, 2014

NBR: Romania sold RON 500m in 1-year T-bills.

Romania sold on Thursday its entire offer of RON 500m in one-year Treasury bills at an average yield of 2.88% vs. 2.03% achieved in the previous successful auction of one-year T-bills held on January 23. Including Thursday's auction, Romania has sold some 9.64bn and EUR 678.7m in government debt [...] >> mai mult >>

martie 28, 2014

CONPET (COTE RO): Management proposed a gross dividend YoY of RON 3.4118 RON per share, DY of 7.5%.

Shareholders are convened on April 29th to approve a gross dividend of 3.4118676832 RON per share, 4.4% higher YoY, implying a 7.5% yield. The
proposed dividend stands 6.9% below our dividend forecast at 3.6644 RON per share due to the lower payout ratio proposed. Registration date was set [...] >> mai mult >>

martie 28, 2014

NUCLEARELECTRICA (SNN RO): Management proposed a 10.8x higher gross dividend YoY of RON 1.21 RON per share, DY of 13%.

Shareholders are convened on April 29th to approve a gross dividend of 1.21 RON per share, 10.8x higher YoY. The proposed dividend stands 3.9% below our dividend forecast at 1.2590 RON per share due to the lower payout ratio proposed. Registration date was set April 17th. (Source: Transelectrica) [...] >> mai mult >>

martie 27, 2014

ROMGAZ Medias (SNG RO): Management proposed a gross dividend of RON 2.57 RON per share, DY of 7.7%.

Shareholders are convened on April 28th to approve a gross dividend of 2.57 RON per share, 91% lower YoY. The proposed dividend stands 25% above our dividend forecast at 2.0526 RON per share. Registration date was set April 14th. (Source: Romgaz) [...] >> mai mult >>

martie 27, 2014

ELECTROMAGNETICA (ELMA RO): Management proposed a gross dividend of RON 0.004 RON per share, DY of 2.0%.

Shareholders are convened on April 29th to approve a gross dividend of 0.004 RON per share, flat YoY. The proposed dividend stands 3% below our dividend forecast at 0.0041 RON per share. Registration date was set April 18th. (Source: Electromagnetica) [...] >> mai mult >>

martie 27, 2014

ROMCARBON Buzau (ROCE RO): Management proposed a gross dividend of RON 0.0038 RON per share from 2006 undistributed profits, DY of 5.8%.

Shareholders are convened on April 29th to approve a gross dividend of 0.0038 RON per share, down 37% YoY. Registration date was set April 18th. (Source: Romcarbon) [...] >> mai mult >>

martie 26, 2014

TRANSELECTRICA (TEL RO): Management proposed a gross dividend of RON 2.228 RON per share, 5.5x higher YoY, DY of 14.2%.

The proposed dividend stands 18.4% above our dividend forecast at 1.8819 RON per share. (Source: Transelectrica) >> mai mult >>

martie 26, 2014

OMV PETROM (SNP RO): Management proposed a gross dividend of RON 0.0308 RON per share (+10% YoY), DY of 7.0%.

Shareholders are convened on April 29th to approve a payout of 36.2% and a gross dividend of 0.0308 RON per share, 10% higher YoY. The proposed dividend stands 12% below our dividend forecast at 0.0351 RON per share. Registration date was set April 18th. (Source: OMV Petrom) [...] >> mai mult >>

martie 26, 2014

FONDUL PROPRIETATEA (FP RO): Third buy-back programme to start tomorrow, March 27th.

The programme refers to the acquisition by Fondul Proprietatea SA of a maximum number of 252,858,056 shares or a 10% stake of the issued share capital, whichever is the lesser, at a minimum value of RON 0.2 per share and a maximum one of RON 1.5 per share. The buy-back programme shall unfold during [...] >> mai mult >>

martie 26, 2014

BUCOVINE CLUB DE MUNTE (BCM RO): Management proposed a gross dividend of RON 0.008 RON per share, DY of 9.7%.

Shareholders are convened on April 30th to approve the distribution from 2013 profit and 2012 undistributed profits of a gross dividend of 0.008 RON per share, implying a 9.7% yield to last closing price. Registration date was set April 15th. (Source: Bucovina Club de Munte) [...] >> mai mult >>

martie 26, 2014

COMCM Constanta (CMCM RO): Management proposed a gross dividend of RON 0.004 RON per share, DY of 2.6%.

Shareholders are convened on April 25th to approve a payout of 91.2% and a gross dividend of 0.004 RON per share, implying a 2.6% yield to last closing price. Registration date was set April 18th. (Source: COMCM) [...] >> mai mult >>

martie 26, 2014

NSI: Romania's Q4 jobless rate rises to 7.2% vs. 7% in Q3’13 and 6.9% in Q4’12.

The number of unemployed in the country totalled 718,000 in the fourth quarter of last year. The number of employed people was 9.9 million. Romania has a population of some 20.1 million. The statistics bureau also said the jobless rate was 8.8% in urban areas and 5.2% in rural areas in the fourth [...] >> mai mult >>

martie 26, 2014

NBR: Romania's end-Feb M3 money supply up 10.7% YoY.

Romania's M3, the broadest gauge of the country's money supply, increased by a nominal 10.7% YoY to RON 242.87bn at the end of February. On a monthly basis, Romania's M3 advanced 1.0% in February. In real terms, the M3 money supply was up 0.6% month-on-month and 9.5% higher YoY at the end of last [...] >> mai mult >>

martie 25, 2014

ZENTIVA Romania (SCD RO): Management proposed a gross dividend of RON 0.072 RON per share (+50% YoY), DY of 6.9%.

Shareholders are convened on April 29th to approve a payout of 69.9% and a gross dividend of 0.072 RON per share, 50% higher YoY. The proposed dividend stands 12% above our dividend forecast at 0.064 RON per share. Registration date was set April 16th. (Source: Zentiva) [...] >> mai mult >>

martie 25, 2014

ROMPETROL WELL SERVICES (PTR RO): Management proposed a gross dividend of RON 0.03 RON per share, almost flat YoY implying a DY of 6%.

Shareholders are convened on April 28th to approve a payout of 30.3% and a gross dividend of 0.03 RON per share, 3% higher YoY. The proposed dividend stands 17.3% below our dividend forecast at 0.0363 RON per share. Registration date was set April 18th. (Source: Zentiva) [...] >> mai mult >>

martie 25, 2014

NBR: Romania sold RON 535.4m in 10-year T-notes.

Romania sold on Monday RON 535.4m in ten-year Treasury notes due on June 11, 2021. The average yield on the bonds, with a residual maturity of 87 months, was 5.29% vs. at an average yield of 4.99% achieved on January 13th. Monday's auction included, Romania has sold some RON 9.09bn and EUR [...] >> mai mult >>

martie 24, 2014

TRANSGAZ Medias (TGN RO): Management proposed a gross dividend of RON 17.58 RON per share, DY of 8.9%.

Shareholders are convened on April 28th to approve a payout of 61.4% and a gross dividend of 17.58 RON per share, 17% below 2012 dividend of 21.29 RON per share. Registration date was set April 16th. (Source: Transgaz) [...] >> mai mult >>

martie 24, 2014

Antibiotice Iasi (ATB RO): Management proposed a gross dividend of RON 0.023 RON per share, DY of 3.9%.

Shareholders are convened on April 24th to approve a 53.6% payout ratio and a gross dividend of 0.023RON per share, 37% lower YoY.  Registration date was set April 14th. (Source: Antibiotice) [...] >> mai mult >>

martie 20, 2014

Gabriel Dumitrascu, Ministry of Economy: Electrica to be floated in the first days of June.

According to Dumitrascu Gabriel, head of the privatization of the Department of Energy in the Ministry of Economy, Electrica’s listing remains on schedule and will take place in the first days of June while CE Oltenia listing could take place between 15th Sept - Oct. (Source: ZF.ro) [...] >> mai mult >>

martie 20, 2014

BURSA DE VALORI BUCURESTI (BVB RO): Management proposed a gross dividend of RON 1.1777 RON per share, DY of 4.28%.

Shareholders are convened on April 24th. Registration date was set April 14th. (Source: Bursa de Valori Bucuresti) >> mai mult >>

martie 20, 2014

AEROSTAR Bacau (ARS RO): Management convenes shareholders to approve a gross dividend of 0.089 RON per share (DY of 5.67%) and bonus share capital increase.

Romanian aeronautical manufacturing company Aerostar Bacau management submits to shareholder approval a bonus share capital increase from RON 37.48m up to RON 48.72m, by incorporation of reserves from 2008-2013, by issuing 35.14m new shares with a face value of 0.32 RON per share. Allocation ratio [...] >> mai mult >>

martie 20, 2014

VAE APCAROM (APC RO): Management convenes shareholders to approve a gross dividend of 0.061 RON per share (DY of 8.47%).

VAE APCAROM (APC RO): Management convenes shareholders to approve a gross dividend of 0.061 RON per share (DY of 8.47%). Source: Apcarom) >> mai mult >>

martie 20, 2014

SIF BANAT CRISANA (SIF1 RO): Bilteanu - El Lakis Najib group forced to sell a 6.72% stake held in SIF Banat Crisana.

FSA rulled that Dragos Bilteanu, El Lakis Najib and companies Romenergo, Smalling and Gardner have to sell a 6.72% stae held in SIF1 as they are acting in a concerted manner. (Source: SIF1) [...] >> mai mult >>

martie 20, 2014

SIF MUNTENIA (SIF4 RO): George Iaciu and Adrian Andrici sold a 5% and 1.83% stake, respectively, in SIF Muntenia.

George Iaciu sold on Tuesday a 4.99% stake in SIF Muntenia worth RON 42.31m and Adrian Andrici sold a 1.83% stake worth RON 15.54m. (Source: SIF4) [...] >> mai mult >>

martie 20, 2014

BANCA COMERCIALA CARPATICA (BCC RO): Tanase Corneliu reduced its stake to 1.15%.

Tanase Corneliu, previously holding a 11.22% stake in BCC, reduced its holding to 1.15% on Friday and sold the rest in 2 stakes of 4.97% in total worth of RON 4.3m. (Source: BCC) [...] >> mai mult >>

martie 20, 2014

TERAPLAST Saratel (TRP RO): SIF Banat Crisana reduced its stake in TRP from 11.34% down to 0.0001%.

SIF Banat Crisana sold yesterday 32.76m shares held in Teraplast, holding now 183 shares (0.0001% stake). The stake was purchased by the main shareholder, Mr. Dorel Goia. (Source: Teraplast) [...] >> mai mult >>

martie 20, 2014

BURSA DE VALORI BUCURESTI (BVB RO): New indices to be launced in the BET index family.

BET Total Return index to be launched in September 2014 and BET Plus index to be launched in June 2014. Furthermore, BSE targets increased visibility and information flow for BET member companies as of January 2015 and representiveness of free-float factor in BET index family indices as of June [...] >> mai mult >>

martie 13, 2014

SIF MOLDOVA (SIF2 RO): Management convenes shareholders to choose between two 2013 dividend proposals: 0.066 RON (DY 5%) or 0.078 RON per share (5.9%).

Management convenes shareholders on April 14th to approve one of the two dividend proposals, according to the company’s dividend policy. However, the BoD supports the 0.066 RON per share proposal in order to ensure the sustainability of the company’s profitability on long term. Reference [...] >> mai mult >>

martie 13, 2014

NUCLEARELECTRICA (SNN RO): Shareholders approved the company’s participation in Tarnita project and the submarine cable.

According to a report sent to the Bucharest Stock Exchange, Nuclearelectrica will participate with RON 8.9m in the share capital of Hidro Tarniya SA and with EUR 2m in the share capital of HVDCC Romania-Turkey. (Source: Nuclearelectrica) [...] >> mai mult >>

martie 13, 2014

NSI: Romania posts EUR 249m trade gap in January vs. a deficit of EUR 298.8m in January 2013.

NSI: Romania posts EUR 249m trade gap in January vs. a deficit of EUR 298.8m in January 2013.(Source: National Statistics Institute) >> mai mult >>

martie 13, 2014

NSI: Romania's construction output falls 7.4% YoY (+4.3% MoM) in January

NSI: Romania's construction output falls 7.4% YoY (+4.3% MoM) in January (seasonally and working-day adjusted). (Source: National Statistics Institute) [...] >> mai mult >>

martie 12, 2014

NSI: Romania's consumer prices rise 0.33% MoM in February.

Romania's consumer price index inched up by 0.33% on the month in February as food prices rose 0.3% MoM (-2.16% YoY), non-food prices gained 0.3% MoM (+2.36% YoY) and services prices increased by 0.47% MoM (+4.5% YoY). Annual inflation remained almost flat, at 1.05%, from 1.06% in January. (Source: [...] >> mai mult >>

martie 12, 2014

NSI: Romania's January industrial output grows 9.9% YoY, up 2.3% MoM.

Romania's January industrial output rose by an annual 9.9% and by 2.3% on the month, with mining industry down 7.6% YoY (-6.7% MoM), manufacturing industry up 11.8% YoY (+3.4% MoM) and with utilities down 0.3% YoY (-4.5% MoM). The figures are seasonally and working-day adjusted. In December, the [...] >> mai mult >>

martie 12, 2014

NSI: Romania's January energy output falls 6.1% YoY.

Romania's domestic energy output fell by an annual 6.1% in January, while imports rose 15.8% YoY. Romania's domestic energy production totalled 1.85 million tonnes of oil equivalent (TOE) in January, while imports reached 854,200 TOE. Romania's electricity output and imports stood at a combined 5.9 [...] >> mai mult >>

martie 11, 2014

At least one third of Constanta Port shares should be sold on stock exchange.

On Monday, Prime Minister Victor Ponta explained that selling only 5 percent of the Constanta Port shares on the stock exchange is not enough and he stressed that at least one third of the shares should be sold in order to draw the private investors’ interest. [...] >> mai mult >>

martie 11, 2014

Letter of intent with the IMF - listing of Hidroelectrica shares by June.

According to the annex to the letter sent to the IMF, the Government hopes Hidroelectrica will exit insolvency and be able to float the 15% stake on the stock exchange by June. However, Greg Konieczny, Manager of Proprietatea Fund (FP), believes it will be impossible to meet the set deadline. [...] >> mai mult >>

martie 11, 2014

NSI: Romania's January industrial sales rise 12.2% YoY, but drop 2.3% MoM.

Mining sales dropped 9.2% YoY (-10.8% MoM) as manufacturing sales surged by 13.2% YoY (-2.0% MoM). (Source: National Statistics Institute) [...] >> mai mult >>

martie 11, 2014

NBR: Romania sold RON 100m in 10-year T-notes.

Romania sold on Monday its entire offer of RON 100m in 10-year Treasury notes due April 26, 2023. The average yield on the bonds, with a residual maturity of 110 months, was 5.30%. In January, the ministry sold T-notes with the same maturity date and a residual maturity of 111 months at an average [...] >> mai mult >>

martie 10, 2014

SIF BANAT CRISANA (SIF1 RO): SIF1 paid the second tranche of shares representing a 24.97% stake in SAI Muntenia, the administrator of SIF Muntenia.

SIF BANAT CRISANA (SIF1 RO): SIF1 paid the second tranche of shares representing a 24.97% stake in SAI Muntenia, the administrator of SIF Muntenia. (Source: SIF1) >> mai mult >>

martie 10, 2014

SIF OLTENIA (SIF5 RO): Management proposes shareholders a gross dividend of 0.16 RON per share (DY of 8.3%) or the distribution of profit to other reserves.

Management convenes shareholders on April 28th to approve a 71.4% payout ratio and a gross dividend of RON 0.16 per share implying a yield of 8.3% to last closing price. Reference date was set April 3rd. (Source: SIF5)  [...] >> mai mult >>

martie 10, 2014

IMPACT DEVELOPER & CONTRACTOR (IMP RO): Shareholders rejected the share capital increase up to RON 277.87m.

Shareholders did not approve the share capital increase by RON 80m up to RON 277.87m through the issue of 80 million new shares at a price of 0.1 RON each, equal to their nominal value. (Source: Impact) [...] >> mai mult >>

martie 10, 2014

ALRO Slatina (ALR RO): Shareholders did not approve the proposed 2014 management guidance.

ALRO Slatina (ALR RO): Shareholders did not approve the proposed 2014 management guidance. (Source: Alro) >> mai mult >>

martie 10, 2014

TRANSGAZ Medias (TGN RO): Bulgaria - Romania gas link to be completed by mid-April.

The construction of a gas interconnector between Romania and Bulgaria will be completed by mid-April at the latest, Romanian gas pipeline operator Transgaz said on Friday. The drilling works have been delayed due to the geological characteristics of the area and heavy snowfall in January and [...] >> mai mult >>

martie 10, 2014

COMELF Bistrita (CMF RO): Management proposed a gross dividend of RON 0.1099 per share, DY at 6.1%.

Shareholders are convened on April 24th. Registration date was set April 14th. (Source: Bermas) [...] >> mai mult >>

martie 10, 2014

Fitch affirms Romania at BBB-, outlook stable.

Fitch Ratings affirmed the long-term foreign currency Issuer Default Rating (IDR) of Romania at BBB- and local currency IDR at BBB with a stable outlook. Nonetheless, the following risk factors individually, or collectively, could trigger a positive rating action: (i) stronger trend economic growth, [...] >> mai mult >>

martie 7, 2014

FONDUL PROPRIETATEA (FP RO): FP proposes its shareholders no dividend distribution, but cash distribution of 0.05RON per share via decrease of the share capital, a 4th buy-back for 990m shares or 10% stake and secondary listing on London Stock Exchange.

As announced previously, Templeton submits to shareholders approval a cash distribution of RON 0.05 per share via the decrease of the share capital through the reduction of the nominal value of the Fund’s shares as is of equial value of the potential 2013 dividend based on the dividend policy [...] >> mai mult >>

martie 7, 2014

ALRO Slatina (ALR RO): Romanian aluminium smelter Alro to partially suspend operations.

Romanian aluminium smelter Alro said it plans to suspend some of its operations due to a rise in energy costs. The measure could result in a significant decrease in the number of employees. The new green certificates quota, which is 17% higher, will have a negative impact on the financial results [...] >> mai mult >>

martie 7, 2014

THR MAREA NEAGRA (EFO RO): Management proposes shareholders a gross dividend of 0.138 RON per share (DY of 15.86%).

Management submits to shareholders’ approval a 52.81% payout from 2013 profits. Shareholders are convened on April 9th. Registration date was set March 31st. (Source: SIF4)  [...] >> mai mult >>

martie 7, 2014

NBR: Romania sold RON 700m in 10-yr T-notes.

Romania sold on Thursday its entire 10-year Treasury notes offer worth RON 700m due June 11, 2017, at an average yield of 4.25%. In February, the ministry sold T-notes with the same maturity date at an average yield of 4.06%. Including Thursday's auction, Romania has sold some RON 7.93bn and [...] >> mai mult >>

martie 6, 2014

SIF MUNTENIA (SIF4 RO): Management proposes shareholders either a gross dividend of 0.138 RON per share (DY of 15.86%) or the distribution of profit to other reserves.

Management convenes shareholders on April 14th to approve one of the two options for profit distribution: (i) gross dividend of RON 0.138 per share implying a yield of 15.86% to last closing price, or (ii) the distribution of profit to other reserves, own sources of funding. (Source: SIF4)  [...] >> mai mult >>

martie 6, 2014

FONDUL PROPRIETATEA (FP RO): FP reviews its strategic option regarding the holding in Petrom.

The Fund Manager informs shareholders that it is reviewing strategic options to potentially reduce its ownership interest in OMV Petrom to below a 15% holding, subject to appropriate market conditions and required approvals. The review is in its early stages and there is no defined timetable for any [...] >> mai mult >>

martie 5, 2014

FONDUL PROPRIETATEA (FP RO): FP to announce on Friday its secondary listing plans.

Recall that last year it gave up the idea of listing ​​the Fund's shares on the Warsaw stock exchange and announced that in the first quarter of this year it will make a new proposal for the secondary listing of the Fund, targeting the stock exchanges in London and New York. (Source: FP) [...] >> mai mult >>

martie 5, 2014

BERMAS Suceava (BRM RO): Management proposed a gross dividend of RON 0.055 per share, DY at 4.58%.

Shareholders are convened on April 9th. Registration date was set March 24th. (Source: Bermas) [...] >> mai mult >>

martie 5, 2014

FARMACEUTICA REMEDIA (RMAH RO): Management proposed a gross dividend of RON 0.015 per share, DY at 4.92%.

Management submits to shareholders’ approval a 52.81% payout from 2013 profits. Shareholders are convened on April 9th. Registration date was set March 31st. (Source: Farmaceutica Remedia) [...] >> mai mult >>

martie 5, 2014

NSI: Romania's retail sales index rises 5.0% YoY in January.

Retail sales index rises 5.0% YoY in January supported by the 5.3% YoY advance in food sales, 9.7% YoY gain in non-food products sales and by the 1.0% YoY increase in fuel sales. On a monthly basis, retail sales in the country gained 2.4% in January. The figures are seasonally and working-day [...] >> mai mult >>

martie 5, 2014

NSI: Romania's Jan industrial PPI falls 1.1% YoY but stayed unchanged on monthly basis.

 Jan industrial PPI falls 1.1% YoY as mining producer prices jumped 8.4% YoY, processing prices dropped 0.7% YoY, energy fell by 5.2% YoY and water and waste management surged by 10% YoY. In December, the PPI  inched down by 0.1% YoY and rose by 0.1% MoM. (Source: National Statistics [...] >> mai mult >>

martie 4, 2014

FONDUL PROPRIETATEA, TURDAPAN (FP RO,TUSB RO): FP sold its stake in Turdapan worth RON 0.5m.

FONDUL PROPRIETATEA, TURDAPAN (FP RO,TUSB RO): FP sold its stake in Turdapan worth RON 0.5m. (Source: Turdapan) [...] >> mai mult >>

martie 4, 2014

PROSPECTIUNI (PRSN RO): Prospectiuni posted a FY13 preliminary gross profit of RON 35.3m, up 56% YoY.

Romanian geophysical services provider Prospectiuni posted an operating profit of RON 37.3m (+38.7% YoY) with total operating revenues of RON 398.7m (+22% YoY) and opex of RON 360m (+20% YoY). The net financial result landed negative at RON 3.05m compared to a loss of RON 4.3m at end-2012. (Source: [...] >> mai mult >>

martie 4, 2014

NBR: Romanian c-bank FX reserves fall to EUR 31.65bn at end-February.

The foreign exchange reserves held by Romania's central bank, excluding gold, totalled EUR 31.65bn at the end of February, down from EUR 32.91bn a month earlier. Foreign exchange inflows totalled EUR 2.37bn in February, while outflows totalled EUR 3.63bn last month. The gold reserves of the [...] >> mai mult >>

martie 4, 2014

NBR: Romania sold RON 400m in 4-year T-notes.

Romania sold on Monday RON 400m in 4-year Treasury notes at an average yield of 3.87%. On December 12, the ministry sold three-year T-notes with a residual maturity of 22 months at an average yield of 3.59%. Monday's auction included, Romania has sold some RON 7.13bn and EUR 478.7m In [...] >> mai mult >>

martie 3, 2014

NUCLEARELECTRICA (SNN RO): SNN posted an outstanding net profit of RON 417.4m, 17x higher YoY amid stronger margins environment.

SNN posted a FY13 preliminary bottom line of RON 417.4m, 17x higher YoY compared to RON 24m posted at end-2012, supported by improved power mix and the high price contracts signed in 2012. The 17% YoY increase in electricity sales pushed the EBIT 2.8x higher YoY to RON 448m. Further on, the net [...] >> mai mult >>

martie 3, 2014

SIF TRANSILVANIA (SIF3 RO): Management submits to shareholders approval share capital increase with bonus shares instead of dividends payment.

Management convenes shareholders on April 28th to approve a share capital increase by RON 109m, up to RON 218.4m by issuing 1.092bn new shares at a face value of 0.1 RON per share. Each existing shareholder will receive 1 new bonus share for each share held. Other main points on the agenda are: 2013 [...] >> mai mult >>

martie 3, 2014

NSI: Unemployment rate stagnates in January.

Romania’s unemployment rate was stable at 7.3% in January compared with the previous month, but up from 7.1% in the same period of 2013 (seasonally adjusted data). (Source: National Statistics Institute) [...] >> mai mult >>

martie 3, 2014

NSI: Romania's business sentiment turns positive in February.

Romanian managers are optimistic in their expectations about the performance of the country’s economy in the three months through April. In the industrial sector, production is expected to rise while the number of employees and prices are expected to be steady through April. Managers of [...] >> mai mult >>

martie 3, 2014

Finance Ministry: Romania plans to issue RON 2.7bn and EUR 200m of debt paper in March.

In February, the country sold some RON 1.93bn and EUR 200m in debt paper on the domestic market. The euro-denominated five-year bonds carry a coupon of 3.40% and will be auctioned on January 21, 2019. (Source: Finance Ministry) [...] >> mai mult >>

februarie 28, 2014

ROMGAS Medias (SNG RO): Romgaz posted a preliminary bottom line of RON 930.7m, down 16.8% YoY and below expectations.

The net profit of Romgaz dropped to a preliminary RON 930.7m in 2013 from RON 1.1bn a year earlier. On top line, Romgaz's turnover rose by only 1.5% YoY to RON 3.9bn as lower demand offset a 15% increase in the prices of gas from domestic production. Last year, Romgaz produced 5.65 billion [...] >> mai mult >>

februarie 28, 2014

State hopes to attract more than EUR 400m from the sale of a 51% stake in Electrica.

However, the price will depend on market conditions and risks. The recent fracturing of the ruling coalition brings new risks on the market, according to Gabriel Dumitrascu, Chief of the Department of Energy Privatization. Under the agreement between the Government and the International Monetary [...] >> mai mult >>

februarie 27, 2014

Gabriel Dumitrascu, Ministry of Economy: We try to help Hidroelectrica exit insolvency as soon as possible.

According to Dumitrascu Gabriel, head of the privatization of the Department of Energy in the Ministry of Economy, the Ministry is trying to help the company exit the insolvency procedures. >> mai mult >>

februarie 27, 2014

Romania consolidated budget shows 0.23% of GDP surplus in January.

Romania posted a consolidated budget surplus of RON 1.5bn in January, equivalent to 0.23% of the gross domestic product (GDP) projected for 2014. In January last year, the budget surplus totalled 1.0 billion lei, or 0.17% of GDP. Consolidated budget revenue totalled RON 17.6bn in January, up by [...] >> mai mult >>

februarie 26, 2014

PNL exits the coalition Government, fracturing the rulling coalition.

Romanian National Liberal Party PNL has decided to exit the coalition Government, and wants to join the opposition, at the same time asking the current Prime Minister to resign. This marks the official fracture of the coalition Social Liberal Union USL, made of PNL and the Social Democratic Party [...] >> mai mult >>

februarie 26, 2014

FONDUL PROPRIETATEA, OMV PETROM (FP RO, SNP RO): FP to sell a 5% stake in OMV Petrom.

According to media, FP wants to reduce its 18.99% stake in Petrom by selling a 5% stake worth cEUR 280m. (Source: ZF.ro)  [...] >> mai mult >>

februarie 26, 2014

FONDUL PROPRIETATEA (FP RO): Hidroelectrica back to insolvency after traders appeal; IPO postponed.

Romania’s largest energy production company Hidroelectrica has re-entered insolvency, half a year after exiting it, as the Bucharest Court of Appeal approved the appeals of several traders whose contracts with the state firm had been canceled. The recent court decision most probably will [...] >> mai mult >>

februarie 26, 2014

TURISM FELIX (TUFE RO): Management proposed a gross dividend of RON 0.042 per share, DY at 2.62%.

Management submits to shareholders’ approval a 55% payout from 2013 profits. Shareholders are convened on April 3rd. (Source: Turism Felix) [...] >> mai mult >>

februarie 26, 2014

EU sees Romania economy growing 2.3% in 2014.

Romania’s economy is likely to expand at an annualized pace of 2.3% in 2014 and to accelerate to 2.5% in 2015, largely fueled by domestic consumption and investments, according to European Commission’s estimates. (Source: ZF.ro) [...] >> mai mult >>

februarie 26, 2014

NBR: Romania's end-Jan M3 money supply up 9.7% YoY.

Romania's M3, the broadest gauge of the country's money supply, increased by a nominal 9.7% on the year to RON 240.54bn at the end of January. On a monthly basis, Romania's M3 declined 0.4% in January. In real terms, the M3 money supply was down 1.3% MoM and 8.5% higher YoY at the end of last month. [...] >> mai mult >>

februarie 26, 2014

Romania runs RON 1.5bn budget surplus in January.

Romania’s consolidated budget posted a surplus of RON 1.5bn (EUR 228m) in January, equal to 0.23% of the gross domestic product, Finance Ministry data showed. (Source: Finance Ministry) [...] >> mai mult >>

februarie 26, 2014

Eurostat: Romania's 12-month avg inflation rate highest in SEE in Jan.

Romania posted the third highest 12-month average inflation rate of 2.9% among the European Union member states in January, following Iceland and Estonia, the bloc's statistics office said on Tuesday. The EU's 12-month average inflation rate was 1.4% in January, while the EU's annual inflation [...] >> mai mult >>

februarie 25, 2014

ANTIBIOTICE Iasi (ATB RO): Management guidance assumes a bottom line of RON 30.55m, +6% YoY, in line with our forecast.

According to the proposed management guidance currently submitted for public discussions and Ministry of Health approval, total operating revenues are expected at RON 350m (+10.3% YoY, 5% above forecast), with the operating profitability landing at RON 55.8m, 14.6% higher YoY and 8.8% above our [...] >> mai mult >>

februarie 25, 2014

FONDUL PROPRIETATEA (FP RO): FSA approved the decrease of the subscribed share capital.

The Financial Supervisory Authority (FSA) endorsed the decrease of the subscribed share capital of the Fund from RON 13.78bn to RON 13.53bn following the cancellation of 240.3m Treasury shares acquired by the Fund during the first buy-back program in 2011. The share capital decrease is effective [...] >> mai mult >>

februarie 25, 2014

NBR: Romania spld RON 440.3m in 5-year T-notes.

Romania sold on Monday RON 440.3m in five-year Treasury notes due on June 24, 2019, below its RON 600m offer. The average yield on the bonds, was 5.10% compared to 4.15% achieved by the ministry on January 20. Up to date, Romania has sold some RON 6.73bn and EUR 478.7m in government [...] >> mai mult >>

februarie 24, 2014

SIF BANAT-CRISANA (SIF1 RO): Management proposed another year without dividends.

Management proposed the allocation of the net profit of 2013 worth RON 880.1m to other reserves, for own financing sources. Shareholders are convened on April 14th to approve 2013 financials, 2014 guidance and the profit distribution proposal. (Source: SIF1) [...] >> mai mult >>

februarie 24, 2014

SIF BANAT-CRISANA, SIF MUNTENIA (SIF1 RO, SIF4 RO): SIF Banat Crisana acquired a 5% stake in SIF Muntenia.

Romanian investment fund SIF Banat Crisana bought 40.35 million shares in SIF Muntenia (5.0% stake) at a price of 0.96 lei per share in total worth of RON 38.7m. Recall that earlier this month, the Romanian financial supervision authority, ASF, said it has given the country's five regional [...] >> mai mult >>

februarie 24, 2014

TRANSELECTRICA (TEL RO): EBRD bought Transelectrica bonds worth RON 40m.

Transelectrica’s first RON-denominated bond issue totalled RON 200m, as the book building process closed successfully on December 17 and the bonds started trading on the Bucharest Stock Exchange the following month. (Source: Transelectrica) [...] >> mai mult >>

februarie 21, 2014

Cegedim - Romanian drug market grows 0.3% in 2013.

Romania's pharmaceuticals market inched up by 0.3% to RON 11.75bn last year, according to a survey by market research company Cegedim Romania. In the fourth quarter alone, the market was down 2.4% YoY to RON   3.06bn. The retail segment generated sales worth RON 10.2bn, up 0.4%. The sales [...] >> mai mult >>

februarie 21, 2014

Romania sold EUR 200m in 5-year bonds yesterday.

The average annual yield rose to 3.3% from 3.18% in the previous auction of five-year bonds held on January 23. The euro-denominated five-year bonds carry a coupon of 3.40%. Up to date, Romania has sold some RON 6.24bn and EUR 478.7m in government debt paper on the domestic market so far this year, [...] >> mai mult >>

februarie 20, 2014

OMV PETROM (SNP RO): OMV Petrom mulls over EUR 1.0bn investment in 2014.

Romania's top oil and gas group OMV Petrom announced yesterday it is considering an investment plan worth over EUR 1.0bn for this year. Some 85% of the funds will be dedicated to the exploration and production (E&P) segment, for drilling development wells, field redevelopment projects, workover [...] >> mai mult >>

februarie 20, 2014

Romania's Banca Transilvania plans to buy back 10m shares by Apr 17.

Romanian blue-chip lender Banca Transilvania said it plans to buy back 10 million own shares between February 19 and April 17 at a price ranging between a minimum price equal to their market price and a max price of RON 2 each. The buyback is part of a wider programme approved by the bank's [...] >> mai mult >>

februarie 20, 2014

ROMGAZ Medias (SNG RO): Romgaz intends to sell 0.56TWh at a price of RON 190/MWh on Romanian gas and electricity

The total transaction is worth RON 107m. (Source: ZF.ro) >> mai mult >>

februarie 19, 2014

OMV PETROM (SNP RO) reported today FY13 IFRS preliminary consolidated set of results posting a bottom line of RON 4,821m (+22% YoY, 2% above our forecast) as Q4’13 net income landed 10% higher YoY on favorable crude oil price and strong cost management.

Overall, posted results land broadly in line with our forecast, supporting our current estimates. On top line, sales volumes decreased by 8% YoY to RON 24,185m (2% above our forecast) mainly due to lower average crude price by 2% at USD 108.30/bbl compared to 2012 USD 110.76/bbl, while production [...] >> mai mult >>

februarie 19, 2014

ASTRA (ATRA RO): FSA imposed Astra to start procedures of financial recovery through special administration.

The Financial Supervisory Authority (FSA) appointed KPMG Advisory as special administrator and will assume all duties of significant persons. The FSA decision will come into force on the date of the publication in the Official Gazette. Starting with the publication, the following are suspended: (i) [...] >> mai mult >>

februarie 18, 2014

TRANSELECTRICA (TEL RO): TEL published yesterday afternoon IFRS unconsolidated FY13 preliminary numbers posting a bottom line of RON 162.3m, 4.7x higher YoY, 5% above consensus and 3.6% above our forecast, supported by improved margins despite a 10% drop

On top line, TEL posted revenues of RON 2.48bn, 10% lower YoY but 8.7% above our forecast and 8.9% above consensus, due to the 40.9% YoY drop in balacing market revenues. Transport revenues rose by 7.1% YoY to RON 1.16bn as sistem revenues increased by 10.3% YoY to RON 629m. The EBITDA landed at RON [...] >> mai mult >>

februarie 18, 2014

TRANSGAZ Medias (TGN RO): Transgaz published yesterday afternoon IFRS unconsolidated FY13 preliminary numbers posting a bottom line of RON 336.9m, up 2.3% YoY and 26.4% above consensus and 33.9% above our forecast, supported by higher topline and improved

At first sight, posted results land broadly in line with our revenues forecast while we need to revisit our estimates on costs side and also incorporate a lower net financial loss of RON 100m vs. an assumed loss of RON 143m in our numbers. Transgaz posted revenues of RON 1,516m up 14.2% YoY [...] >> mai mult >>

februarie 18, 2014

Romania sold RON 500m in 5-year T-notes.

Romania sold on Monday its entire offer of five-year Treasury notes worth RON 500m due on April 30, 2016, at an average yield of 4.08% compared to an average yield of 3.92% achieved on January 6. Up to date, Romania has sold some RON 6.24bn and EUR 278.7m in government debt paper on the [...] >> mai mult >>

februarie 14, 2014

FONDUL PROPRIETATEA (FP RO): FP posted today Jan’14 NAV per share at RON 1.2339, -0.8% YTD and -1.7% YoY.

FP posted January NAV at RON 14.89bn compared to RON 15.01bn in December 2013, mainly impacted by a slight decrease in listed (-1.35% YTD) as unlisted shares stood flat, while bank deposits were reduced by 43.4% YTD as the value of T-bills jumped by 49.2% YTD. During January, FP increased its [...] >> mai mult >>

februarie 14, 2014

NBR: Romania rejects all bids for 10-year T-notes.

Romania rejected on Thursday all bids in an auction for 10-year Treasury notes planned to sell RON 100m. Romania plans to issue RON 4.06bn and EUR 200m in government securities on the domestic market in February. Up to date, Romania has sold some RON 5.74bn and EUR 278.7m in government debt [...] >> mai mult >>

februarie 13, 2014

BANCA TRANSILVANIA (TLV RO): BT posted today preliminary FY13 unconsolidated IFRS set of results posting a bottom line of RON 374.9m (+17% YoY)

BANCA TRANSILVANIA (TLV RO): BT posted today preliminary FY13 unconsolidated IFRS set of results posting a bottom line of RON 374.9m (+17% YoY), supported by higher core line revenues, offsetting the 7% YoY higher provisions landing at RON 407.4m.Higher than assumed top line supported by the core [...] >> mai mult >>

februarie 12, 2014

BRD-GSG (BRD RO): BRD posted a preliminary FY13 loss of RON 385m on increasing provisioning.

On Wednesday, Romania’s second-largest bank BRD-Groupe Societe Generale (BRD RO) reported a loss of 385 million lei (EUR86 million) for 2013, mainly due to a rise in provisioning costs, while the lending activity weakened. (Source: ZF) [...] >> mai mult >>

februarie 12, 2014

ANTIBIOTICE Iasi (ATB RO): Antibiotice posted a preliminary net profit of RON 28.8m (+6.3% YoY).

Romanian state-run drugmak