Romania Report News is your one stop source for relevant key new stories delivered as they break on the investment front in Romania. We search all local and foreign press, translating stories into English when (as often) is needed and deliver them to you here on our web site and via RSS.
SIFs discussing share capital increases with the market regulator
* Costel Ceocea, SIF2: 'I personally feel that a share capital increase is necessary under the current market circumstances' The managers of the five financial investment companies (SIF) have had several talks with the Romanian Securities Commission (CNVM) on the issue of a possible share capital increase, Costel Ceocea, the chairman of SIF Moldova said for BURSA. The share capital increase is ...
Kazakhs raise the bid for 'Rompetrol Rafinare' again
The Romanian Securities Commission yesterday approved the amendment of the takeover bid made by the Rompetrol Group, by which the latter raises the price at 0.0751 lei/share for shares of 'Rompetrol Rafinare'. The increase of the bid came as a result of the acquisition of a 1.53% stake in RRC by the Rompetrol Group in the beginning of this week, at a price higher than the price of the takeover ...
EBRD to fund energy efficiency projects of Romanian factories
The officials of the Chamber of Commerce and Industry of Bra and #537;ov yesterday announced that the European Bank for Reconstruction and Development, together with the European Commission, has launched a funding facility to help improve the high levels of energy consumption and greenhouse gas emissions of certain industrial companies in the private sector. Nineteen Romanian companies have alread...
Companies: There?s life after insolvency. Consultants: Don?t rely on banks
Most of the companies that went insolvent stand high chances of avoiding bankruptcy, but to do it they must not expect financing from banks.
Fabryo expects to boost market share this year
Varnish and paint producer Fabryo Corporation, held by investment fund Oresa Ventures, intends to boost its market share to 25% this year, compared with just over 20% in 2009.
Who's vying for the most eagerly awaited infrastructure project, the tube in ...
Businessmen Ovidiu Tender, Radu Ouatu, Florea Diaconu and Alexandru Horpos compete with international giants in the construction sector to achieve Bucharest's most awaited infrastructure work in Bucharest, the Drumul Taberei tube.
Caroli-Campofrio merger removes Ovidiu Wencz from new management structure
Ovidiu Wencz, general manager of charcuterie producer Tabco-Campofrio, will not be part of the management of Caroli Foods Group, formed by the merger of the Caroli group with the local subsidiary of European giant Campofrio Food Group, according to sources in the industry.
Romanians at Allview are working on a mobile phone with GPS, 3G and WiFi
Visual Fan, a Brasov-based company with 3 million euros in annual turnover, which manufactures and sells electronic products under its own brand Allview, will invest around 200,000 euros this year in research and development of new products, among which a dual-sim mobile phone compatible with 3G and Wi-Fi technologies.
Lukoil expects 2% decline in fuel market, if things stay the same
Lukoil Romania, the third largest player on the local fuel market, which owns around 300 petrol stations with over one billion euros in turnover, believes sales of refined products could continue their slide on the overall market in 2010, after last year saw a 6% decline in petrol and diesel oil sales on the Romanian market.
Emporiki: 18m-euro loss in 2009
Emporiki Bank, local subsidiary of Emporiki Bank Greece, a member of French group Credit Agricole, posted an 18.3 million-euro loss last year, more than double that recorded in 2008, of 7.8 million euros, according to the audited financial reports published by the bank.
How Grigore Chis wants to change one of the largest brokerage firms on the ma...
Broker Cluj is currently focusing its strategy on attracting young, well-informed clients, who trade online, as well as on ?awakening? the firm's thousands of inactive clients, says Grigore Chis, general manager of Broker.
Two of the six hundred 400,000-euro Ferrari cars bought by Romanians
Two Ferrari 599 GTO models worth above 380,000 euros are set to be delivered on the Romanian market this year by Forza Rossa, the importer of the Italian carmaker domestically, controlled by former Health Minister Ion Bazac and Cefin Holding.
Bankers say they will turn on retail lending spigot just a little
Bankers do not expect to grant too many retail loans this year and say housing and consumer loans will increase by around 10% in 2010 after stagnating last year.
Efraim Naimer wants to reach 6m-euro turnover with Platinum Asigurari
Efraim Naimer, one of the key-people in the field of insurance in the past ten years, targets gross underwritten premiums worth 5-6m euros for this year for his newly-acquired company, Clal Asigurari, which changed its name to Platinum Asigurari.
IMF chief expected in Bucharest on March 30
International Monetary Fund managing director Dominique Strauss-Kahn is expected on a short visit to Bucharest on March 30; this is the second visit to Romania by a head of the international financial institution, after Michel Camdessus in 1994.