News on Economy, Industry, Investments & Business II

[nebunul]

^^ Structural funds - are EU funds designed to support/integrate infrastructure and transport projects within the union and to help New EU catch up with Old EU. They would only increase GDP (indirectly by creating business, jobs, opportunities and sustainability for economic growth) as any other foreign or local type of investment. The affordability (real estate) gap is massive and alone, structural funds will not have an impact (maybe a small, indirect and on long term also) on whole real estate market. Demand/supply is the real law that governs it. And in Romania's case demand is temporary and absurd; and thus … a biiiiiig bubble:hm:. Luckily, supply is not that high now ... but it will be in 2-3 years when the market will decline - especially old block of flats ... and some “middle of nowhere” developments

[RODINVEST]

You are right but mabey my way of explaining my thoughts is let's say un refined. Structural fund if used wisely would prolong the bubble or at least avoid it. They could develop the infrastructure and help small business grow just like you said. I just did not develop the ideea further because we all know what they are about. With a steady growthof 6 percent and with structural funds entering and helping the economy growth would go back to 7,5 or 8%. High growth would atract FDI thus generating more growth (real and healthy) so prices will not drop. With growth levels this high a bouble would be evoided ( or amplified :) ). But we will acces only 25 % maxim so the bubble is closer than we think.

[Le Clerk]

Business Standard
04/04/2008


Continental AG to offer employment to over 1,300 in 2008


Continental AG, international supplier of the automobile industry, will recruit some 1,350 specialists by the end of the year, following expansion of its activities locally.

“In 2008, we will create some 1,350 new jobs, to raise the number of employees to 7,500 by the end of the year. All Continental divisions in Romania presently have some 6,150 employees, meaning an increase of over 20 percent. Of the total number of employees to date, some 2,300 are engineers,” according to a declaration for Business Standard by Ildiko Kovacs, Public Relations Coordinator for Continental AG Romania.

The company is looking mostly for engineers and IT specialists. Continental Automotive Sibiu has the most vacancies, some 400, although its Continental Contitech Timisoara division is also seeking to hire 330 employees, and another 400 jobs are available at Continental Automotive and Continental Anvelope in Timisoara. “We are looking for employees that are passionate about the automobile industry. Because there was no such industry in the areas in which we have established ourselves, we are constantly training and specializing our employees,” added Kovacs. In this sense the company is collaborating with several universities to offer specialized automotive and IT training.

Continental AG has invested over €350 million in Romania to date, and all its production and R&D locations are equipped with top automotive technology.

[joce23]

Romania Has Economic Strengths: We Must Build On Them
http://nineoclock.ro/index.php?page=detalii&categorie=business&id=20080404-512336

This week’s historic NATO Summit in Bucharest is solid proof that Romania has finally earned a place on the world stage. We have come a long way – and yet, we have much further to go. We need to maximize the benefit of being part of the European and global economies. By shaping a strategy for the next 50 years, we shall ensure that Romania not only maintains this coveted spot but that we also transform Romania into a leader of the pack.

We have much to be proud of. But if we want to ensure a future of economic opportunity for Romanians, we cannot rest on our laurels. We have to build on them. Romania has strengths; we have to take advantage of them.

First, let’s look at what we have achieved so far – and also at economic trends that may undermine our achievements.

Thus far, this century has been good for Romania. During the 1990s, Romania lagged behind some of our neighbors, largely due to an obsolete industrial base left over by the Communist regime. In 2000, Romania started to move, transforming itself into a relatively stable economy, building a strong middle-class and reducing poverty. Economic growth was driven by strong domestic consumption and investment. After 2000, Romania became the single largest investment destination in Southeastern and Central Europe, with foreign direct investment totaling €8.3 billion in 2006. The Romanian economy was characterized by high growth (7.7 percent in 2006, one of the highest rates in Europe) and relative low unemployment. We also managed to drive inflation down to single digits.

But success often has a cost. With large capital inflows, higher incomes, and readily available credit, consumer demand drove up real estate values, consumer prices, and foreign trade deficits. Inflation rose in 2007 for the first time in eight years. Higher prices threaten to fuel an increased trade deficit, which went up last year by 50 percent to €15 billion.

So our economy is characterized by both blue skies and storm clouds. How do we ensure a bright horizon? In particular, how do we turn around our trade deficit?

By taking advantage of our strengths. There has been considerable discussion about developing a “national brand” for Romania. This is a positive development, representing an attempt to look to the future. But before you brand yourself, you have to determine who you are. Nike didn’t get started by coming up with the slogan “Just Do It.” First, it developed distinctive products, using its creative strengths. It based its brand on that.

Our brand strategy must also be based on our strengths. What are Romania’s strengths that can lay the foundation for the next half-century?

Some would like to see our country make the leap to high-tech industries as the basis for our economy. Certainly many Romanians have demonstrated high-tech skill. That is illustrated by such investments as Microsoft’s purchase of GeCAD, developer of antivirus software, and more recently Microsoft’s decision to establish a European support center in Bucharest. Investments such as these are extremely welcome – but will they provide jobs for the 70 percent of our population that lives in small cities and the countryside?

We need to focus on the assets that can generate employment for most Romanians.

First, we must build on our strengths in agriculture. We have the second-largest agricultural space in Europe. Agriculture makes up 10 percent of our GDP. This is becoming a more important source of exports than ever, with the global price of food having surged 20 percent in the first three weeks of March – driven by strong demand from developing countries and the biofuel industry’s appetite for grains.

Second, we must build on our strengths in industry, based on a skilled, competitively-priced workforce, natural resources, and transportation links. Our industrial strengths include the manufacturing sector, such as textiles, industrial machinery, and electronic equipment. Automobiles show significant potential, as indicated by Renault’s €100 million investment in its Dacia subsidiary’s Pitesti plant and Ford’s recent infusion of €675 million.

Third, Romania has tremendous potential to develop its natural resources, both base metals and fuel – two areas where demand in Europe, like demand globally, is great and growing. The necessary ingredients here will be application of European and world standards, and openness to Foreign Direct Investment.

Fourth, we must upgrade and maintain one of our most valuable strengths – our transportation infrastructure. We are located smack in the middle of a region that connects Russia, Turkey, Bulgaria and the Mideast, with the most easily traveled land route between the Balkans, Moldova, and Ukraine. We have the largest river system in Europe – 100 kilometers – and 225 kilometers of coastline, with ports and terminals in Braila, Constanta, Galati, Tulcea. These are important advantages; if we are going to increase our exports, we have to be able to ship them efficiently. While government must make it a priority to keep its spending down (and taxes as low and as simplified as possible), infrastructure is crucial to our economic future. It is a worthy area for investment.

Agriculture, industry, resources and infrastructure – these can form the basis of a half-century of economic growth. They can help us take advantage of our place in Europe – and allow us to bring our own strengths to the European Union.

Dragos Tanase is Vice President, Administration and Finance, for Rosia Montana Gold Corporation.

by Dragos Tanase

[Yury]

Le Clerk, I suggest you post the news on Putin's meetings with Basescu here not to drive the Languages thread into even more off-topic ;)

[Le Clerk]

^^OKAY, but it was only a PS. ;)

[TonyHub]

Sandoz could relocate re-analysis centre to Romania

Autor: Ioana David Data: 04-04-2008
Ziarul Financiar

Swiss group Sandoz, the second-largest player on the global market of generic drugs, is considering relocating its drug re-analysis centre from Germany, with the possible destinations including Romania and Poland.

"Our plans include investments worth one million euros this year. However, there is a very strong possibility that we will receive approval from the European Union for a re-analysis centre, which would entail a major investment," said Iztok Sever, country head of Sandoz Romania, although he refused to specify the necessary investments for such a project.

Re-analysis is necessary in order to check that qualitative and quantitative European Union norms are met. According to Sever, drugs that originate from several European countries will be tested.

Sandoz also announced last year that it would examine the Romanian market for a greenfield project, which, at present, was on "stand-by".

The company currently owns two production facilities in Targu-Mures, one for penicillin, and another for macrolides (the most modern antibiotic).

Sandoz directly entered the Romanian market, via the acquisition of Slovenian-based Lek, which acquired local manufacturer Pharmatech a few years back. Over the last five years, investments conducted by Sandoz on the local market amounted to 40 million dollars, whilst the number of staff increased by over 200 people, according to data provided by Sever.

Sandoz Romania posted sales worth 88.4 million dollars on the local market last year (exports not included), up 33% against the 66.3 million dollars reported in 2006, according to company data, which cites pharmaceutical research company Cegedim.

"Our market share on the generics segment was of 7.2% in 2006, but increased to 8.3% last year. The target for 2008 is to reach a 9% market share. In 2007, we launched 14 new molecules, and this year we intend to launch another 24," added Sever.


Sursa: www.zf.ro/articol_167539

[TonyHub]

Praktiker sees Romania as its biggestforeign market

Autor: Ziarul Financiar Data: 04-04-2008
Ziarul Financiar

Praktiker aims to reach 30 stores over the next two years, from 20 at the moment. Average investment per store stands at 8 to 10 million euros. "The company plans to consolidate its position as the leader of the DIY sector, with at least 5 new stores planned for 2008. Continuing this trend, Praktiker Romania is scheduled to become the company with the highest sales in the group's network outside Germany," Praktiker's financial report reveals. Praktiker is therefore putting the Romanian market at the centre of its international expansion, with the company operating in eight countries. Praktiker Romania is currently operating 20 stores, and is the group's largest network outside Germany along with the subsidiary in Poland, which has the same number of stores.

Sursa: www.zf.ro/articol_167548

[TonyHub]

Construction market attractive to private equity funds

Autor: Catalin Lupoaie Data: 04-04-2008
Ziarul Financiar

Producers of construction materials have become the main targets for private equity funds over the last two years in the wake of high growth rates and high profits.

Enterprise Investors, Oresa Ventures and Advent International were all involved in two acquisitions on the construction materials market (estimated to be worth around 6.5 billion euros last year) after the funds registered an over 30% annual growth rate, and hope to make a profitable exit in five years' time.

"We expect this market to continue to grow at a fast rate due to the large investments in new residential, commercial, and industrial buildings, as well as in infrastructure and renovations. The market of construction materials is already extensive, and allows major companies to grow, making them attractive for global players, as well as for a potential stock exchange listing, which would secure a profitable exit," Cornel Marian, managing director of Oresa Ventures Romania, local subsidiary of Swedish private equity firm Oresa Ventures, told ZF. The company controls half of the shares of Fabryo Corporation (a varnish and paint producer) and of Bau Profil (a producer of metal profiles and adhesives).

Advent International, which took over dry mortars producer Bengoss Comimpex for 18.9 million euros, and Enterprise Investors, which acquired the Simcor group for 53 million euros, have conducted the most recent transactions on the construction materials market.

"Construction materials producers will remain attractive acquisition targets as long as they maintain their growth and profit rates. According to some forecasts, these growth rates and profit rates will be preserved for at least five years," says Cristian Nacu, a partner of Polish private equity fund Enterprise Investors. Through the acquisition of the Simcor group, the Polish fund has strengthened its position on the AAC (Autoclaved Aerated Concrete) market, bringing its total production capacity to around 800,000 cubic metres, i.e. a 10-12% share of the masonry materials market.

Advent has expanded the portfolio of varnish and paint producer d?fa Deutek in the wake of experience in the construction materials market, and due to its upward trend. Since it is not an entirely new portfolio, but rather one complementary to the already existing one, Advent's decision was a natural one.

The decision also came amid the maturing of the d?fa Deutek's business, and as a result of the company's desire to improve its performance, onto an additional product segment - that of construction mortars," said Advent representatives, who, in 2005, took over D?fa Romania, currently d?fa Deutek, from German group Meffert and two local businesspeople.

Construction materials market

# The construction materials market was worth around 6.5 billion euros last year, with an over 30% annual growth rate

# Private equity funds regard the construction materials market as attractive because of high growth and profit rates

# The most recent transactions have been the acquisition by Advent International, of dry mortars producer Bengoss Comimpex for 18.9 million euros, by Enterprise Investors, which acquired the Simcor group for 53 million euros.


Sursa: www.zf.ro/articol_167542

[TonyHub]

Dacia revenues up 24.5% to 7.2 billion RON, net profit reaches 442m RON

Autor: Ziarul Financiar Data: 04-04-2008
Ziarul Financiar

Carmaker Dacia's revenues went up by 24.5% last year, from 5.78 billion RON (1.63 billion euros) to 7.2 billion RON (2.15 billion euros), whilst the net profit of the carmaker increased by 17.2% from 377.27 million RON (107 million euros) to 442.34 million RON (132.54 million euros). At the same time, expenses went up by 24.1% from 5.36 billion RON to 6.66 billion RON, so that the gross profit posted by Dacia stood at 541 million RON (162.2 million euros). Turnover went up by 24.8% from 5.55 billion RON (1.57 billion euros) to 6.93 billion RON (2.07 billion euros). Dacia has debts that have to be paid in less than one year worth 1.76 billion RON, while such debts amounted to 1.29 billion RON in the previous year. At the same time the debts Dacia has to pay in more than one year amount to almost 115,000 RON. At the beginning of 2007, Dacia saw receivables worth 780.69 million RON, which went up by 20% to 939.61 million RON. The company mentions in the petition filed with the Arges County Court of Law to sue the union of the factory that it will allocate the entire 2007 profit to restore its net asset, as a result of losses from before 2005. With 230,000 vehicles sold last year, Dacia posted a 17.4% sales increase on 2006. A total of 102,062 units were sold in Romania, with the best-selling model being the Logan Sedan.

Sursa: www.zf.ro/articol_167543

[Le Clerk]

Business Review
4/4/2008 11:03:05 AM

Holland-based group Wavin, distributing in Romania plastic tubes, plans to build a local production facility, due to the local business performances registered, according to the company. Waving reported a turnover worth EUR 152.1 million in 2007, with 15.5 million more compared to previous year, when the company registered EUR 131.5 million comprising the activities In Italy, Hungary and Romania.

[Le Clerk]

The statement was made at the meeting between G.W.Bush with the Romanian PM within the NATO summit in Bucharest.


Business Standard
04/04/2008



Bush, interesat de proiectele regionale energetice
04 aprilie 2008

Presedintele SUA, George Bush, s-a aratat interesat de proiectele regionale in domeniul energiei, in vederea diversificarii surselor de aprovizionare, potrivit participantilor la discutiile dintre liderul american si premierul Tariceanu.

Conform surselor citate, in cadrul intrevederii cu Tariceanu, presedintele american a fost interesat si de dezvoltarea cooperarii cu Romania in domeniul energetic.

Presedintele american a discutat pe tema energiei si cu omologul sau roman, Traian Basescu, in cadrul intalnirii pe care cei doi au avut-o marti la Neptun."Trebuie promovata cooperarea economica, pentru ca exista un potential considerabil aici (la Marea Neagra - n.r.). De asemenea, independenta energetica. Natiunile ar trebui sa aiba la alegere o varietate de surse de energie, pentru a nu fi captivele unui singur furnizor", a declarat Bush la finalul intrevederii cu Traian Basescu.

Romania, a carei dependenta de importurile de gaze rusesti (37%) este mult mai redusa decat a Ungariei sau Bulgariei (100%), este singura tara care a ramas fidela proiectului european Nabucco, Bucurestiul nefiind interesat precum Budapesta sau Sofia de proiectul rival South Stream, propus de Gazprom. Conducta Nabucco, promovata de UE si SUA, ar urma sa ofere o alternativa la gazele si conductele rusesti, aducand gaz din Azerbaidjan prin Turcia, Bulgaria, Romania, Ungaria si Austria. (Newsin)

http://www.standard.ro/articol_38274/bush__interesat_de_proiectele_regionale_energetice.html

[Le Clerk]

Business Standard
04/04/2008


Liebrecht & wooD enters industrial development segment

04 aprilie 2008 de Alexandru Urzica

Belgian company Liebrecht & wooD, developer of business center Victoria Park in Bucharest, will open a credit line worth €40.3 million to develop an industrial park in the village of Domnesti, close to Bucharest.

The credit line was approved during a meeting of Bucharest Industrial Park shareholders, controlled by the Belgian developer.

The some 85,700 square meters of land on which the industrial park is to be built, and the buildings, will serve as collateral for the loan, according to data published in the official gazette.

Liebrecht & wooD entered the local market in 2000, when it built the Militari Shopping Center commercial complex which it later sold to Austrian investment fund Meinl European Land, for €20 mln. The company went on to develop the Victoria Park, sold subsequently to Austrian Immoeast investment fund for €60 mln. Last year, it launched a retail project worth €120 mln along the Bucharest-Pitesti highway.
http://www.standard.ro/articol_38202/liebrecht___wood_enters_industrial_development_segment.html

[Le Clerk]

The statement was made by the Romanian PM at his meeting with the American President - G.W. Bush



Business Standard
04/04/2008




Tariceanu: Doresc investitii industriale americane puternice in Romania
04 aprilie 2008

Premierul Calin Popescu Tariceanu si-a manifestat interesul privind investitiile americane in Romania, in cadrul unei intrevederi, la Palatul Victoria, cu presedintele SUA, George W. Bush, cu care premierul a discutat mai multe teme de interes global si bilateral, potrivit unui comunicat al Executivului.

“I-am spus presedintelui Bush ca nutresc de mai multa vreme o dorinta puternica, aceea de a vedea o investitie industriala puternica in Romania, care va fi elementul ce va centra interesele noastre comune si va consolida parteneriatul strategic intre SUA si Romania. Avand interese comune in Romania, eu ma simt mai bine protejat ca roman, iar ca premier simt ca Romania va fi mai bine protejata in viitor”, a declarat seful Executivului, care a mentionat in acest context investitia companiei americane Ford in Romania.

Prim-ministrul a amintit, de asemenea, initiativa comuna, anuntata de SUA, privind crearea Fundatiei Romano-Americane pentru sprijinirea educatiei si acordarea de burse studentilor romani, proiect care va atrage fonduri de peste 1 miliard de dolari.

La randul sau, Bush a subliniat importanta investitiilor pentru crearea de locuri de munca si a apreciat drept un succes pentru Guvernul roman implementarea taxei unice.

Un alt subiect abordat a fost cel al vizelor pentru SUA. Bush a dat asigurari ca partea americana va trata cu mai multa transparenta aceasta chestiune.

”Vom lucra cu Guvernul roman pe cateva masuri. Una dintre acestea ar fi sa ne dam seama de ce rata de respingere este asa ridicata. Trebuie sa existe mai multa transparenta si este de datoria noastra sa le explicam oamenilor care nu primesc vize motivul pentru care nu le primesc”, a declarat Bush.

Presedintele SUA a felicitat Guvernul roman pentru modul in care a organizat summitul NATO si pentru progresele pe care le-a constatat de la precedenta sa vizita in Romania.
http://www.standard.ro/articol_38269/tariceanu__doresc_investitii_industriale_americane_puternice_in_romania.html

[Yury]

so was there any outcome from the Putin-Basescu meeting apart from an invitation for Basescu to visit Russia?

[nebunul]

^^ I'd say it's a pretty major ... step

[tomis3]

^^ I'd say it's a pretty major ... step

Don't get your hopes up. They met in 2005 and what came of it? Nothing.

It will be impossible for Romania to have the kind of relationship with Russia that Germany has, because Russia does not want that kind relationship with us.

Just keep in mind why Romania and Russia have not bilateral agreement in place: because Russia insisted on inserting a veto (for NATO and the EU) clause in the agreement. So Russia wanted to have veto power over our decisions to join western institutions. This is what Russia wants from us. How are we supposed to go forward from here?

[nebunul]

It will be impossible for Romania to have the kind of relationship with Russia that Germany has

No other country can have such relation with Russia ... this is unique and IMO Germany has more to gain from Russia than form NATO


How are we supposed to go forward from here?
:) By having a meeting ... first :cheers:

[tomis3]

No other country can have such relation with Russia ... this is unique and IMO Germany has more to gain from Russia than form NATO


:) By having a meeting ... first :cheers:

I should have said Western Europe: pick any country you want (except UK...:lol:).

[tomis3]

No other country can have such relation with Russia ... this is unique and IMO Germany has more to gain from Russia than form NATO

:) By having a meeting ... first :cheers:

I have nothing against Basescu and Putin meeting....but I don't except much to change. In Bucharest, Putin was softer than usual, but you should read the interview one of his foreign policy advisors gave to the Romanian press (vis-à-vis Romania not NATO)...it just oozed with arrogance and aggressiveness.

[nebunul]

I honestly think that, firstly, we need to become a (small:))power (give it IMO ~10 years) and secondly, to have something (important/desirable) to give to Russia ... all these before they'll take us (need us) really seriously ...as we want & shout :cheers: BTW being upset with our position/actions is good. It means that we (started to) count :cheers: ... but, as I said, not that much in order to be seen as partners and not enemies ...

I have nothing against Basescu and Putin meeting....but I don't except much to change. In Bucharest, Putin was softer than usual, but you should read the interview one of his foreign policy advisors gave to the Romanian press (vis-à-vis Romania not NATO)...it just oozed with arrogance and aggressiveness.

Let's put it this way: Putin has opened that door Basescu locked :cheers:

[tomis3]

I honestly think that, firstly, we need to become a (small:))power (give it IMO ~10 years) and secondly, to have something (important/desirable) to give to Russia ... all these before they'll take us (need us) really seriously ...as we want & shout :cheers: BTW being upset with our position/actions is good. It means that we (started to) count :cheers: ... but, as I said, not that much in order to be seen as partners and not enemies ...



Let's put it this way: Putin has opened that door Basescu locked :cheers:

I don't think Russia sees us as enemies but it does not want us as partners either...it wants us, like the rest of EE, as vassals. I know a small cabal in Romania is very eager to see that happen again....fortunately, most people know better.

[Yury]

oh just cut this evil Russia crap. Stereotypes suck! :ohno:

[nebunul]

I don't think Russia sees us as enemies but it does not want us as partners either...it wants us, like the rest of EE, as vassals. I know a small cabal in Romania is very eager to see that happen again....fortunately, most people know better.

I honestly think that we need to take ourselves more seriously before we demand it form others :cheers:

* PS cind ai fost acasa ultima data?! Sa vezi realitatea ... cine sintem cu adevarat ...

[tomis3]

oh just cut this evil Russia crap. Stereotypes suck! :ohno:

What stereotypes?

I know it's not relevant now...but I'm curious to know what you think about the veto clause Russia wanted inserted in our bilateral agreement.

[nebunul]

No other country can have such relation with Russia ... this is unique and IMO Germany has more to gain from Russia than form NATO



http://img134.imageshack.us/img134/1163/hahaqa8.jpg (http://imageshack.us)

[tomis3]

I honestly think that we need to take ourselves more seriously before we demand it form others :cheers:

* PS cind ai fost acasa ultima data?! Sa vezi realitatea ... cine sintem cu adevarat ...

Asta e alta poveste. Singur ca cel mai bine ar fi sa ne concentram asupra noastra dar asta e situatia....suntem condusi de o generatie scolita de stii tu cine.

N-am mai fost de un an.

[Yury]

What stereotypes?

I know it's not relevant now...but I'm curious to know what you think about the veto clause Russia wanted inserted in our bilateral agreement.

like "Russia wants us as vassals" stereotypes. Those can be seen practically every post you make about Russia.

And I have never heard of any such agreement being discussed between Russia and Romania. I can understand about NATO, but it's strange concerning the EU since Russia doesn't even object Moldova joining it. Could you provide me with a link to more info about that subject.

[Le Clerk]

so was there any outcome from the Putin-Basescu meeting apart from an invitation for Basescu to visit Russia?

Considering that a Russian (well, Soviet) president has not set foot in Romania since 1987 (Gorbachev), I'd say it's a major step ahead. I saw some sections of the public discussions between Putin and Basescu, and they were smiling at each other. Well, yes, maybe that was just for the sake of diplomacy, but still it's a good start:

From www.presidency.ro:

http://img396.imageshack.us/img396/5713/14980xp4.jpg

http://img381.imageshack.us/img381/6339/14981ud7.jpg

http://img396.imageshack.us/img396/143/14952kf8.jpg

http://img146.imageshack.us/img146/4565/14979wv1.jpg

http://img146.imageshack.us/img146/5097/14970ef6.jpg

http://img396.imageshack.us/img396/3208/14976zf0.jpg

http://img381.imageshack.us/img381/5360/14977ce3.jpg

http://img381.imageshack.us/img381/6661/14959lk7.jpg

[Le Clerk]

^^ BTW, did it ever occured to you guys that Basescu looks like Jack Nickolson by his scar on the face? :lol:

[Yury]

ok, let's see. Did they set any date? Anyway, it will already be Medvedev that Basescu will meet in Moscow

[Le Clerk]

ok, let's see. Did they set any date? Anyway, it will already be Medvedev that Basescu will meet in Moscow

AFAIK, there's no date set yet. Probably, our MoFA (oh no) will go there first to 'prepare' the meeting (as ussual) and then Basescu will go.

[tomis3]

^^ BTW, did it ever occured to you guys that Basescu looks like Jack Nickolson by his scar on the face? :lol:

no...he looks like a clown...I can't believe his daughter, the young and dumb one, is relatively hot.

[Cosmin]

^^MoFA with Cioroianu as minister turned to Mofo.:bash:

Hey, I like Băsescu's patented laser sight!:D
http://img210.imageshack.us/img210/2017/14977ce3asdasdasin8.jpg

Basescu doesn't look like a clown, he just acts like one sometimes. It is still our best president to date, unfortunately for us.:lol:

[pescarush]

^^:hilarious:hilarious:hilarious he is a 'skywalker'

[Le Clerk]

Business Standard
06/04/2008



Complet Electro Serv posts 25% growth in business
06 aprilie 2008

One of the largest local PC producers, Complet Electro Serv (CES), part of the Altex group, posted more than €21 million in turnover for 2007, 25 percent higher year-on-year. The growth is due to a 19 percent increase in the number of units sold, up to 77,000 PCs.

Last year, CES launched premium brand Myra, selling 13,000 desktops and 5,500 notebooks. Last year’s sales for its other brand, Davio, amounted to 58,000 units, 9 percent lower than in 2006.

[TonyHub]

Italy and Spain take Blue Air's traffic to half of TAROM's

Autor: Roxana Grigorean Data: 07-04-2008
Ziarul Financiar

Blue Air, the low-cost airline that reached half of TAROM's revenues on the Romanian market in three years, is still relying on Spain and Italy, whose routes place it among the top spots on the market since its establishment.

"Flights to Italy have generated around 36% of revenues so far, while those in Spain around 20%," said Gheorghe Racaru, the manager of Blue Air, whose business reached 95.7 million euros last year. Blue Air, a company held by businessman Nelu Iordache, has therefore become the largest private airline held by Romanians, leaving behind Carpatair, whose main shareholder is Nicolae Petrov. Carpatair ended last year with turnover worth around 82 million euros.

The company whose hub is in Timisoara relies on destinations in Greece and Ukraine and operates with aircraft that have fewer seats. As far as destinations are concerned, Blue Air's strategy resembles that of state-run TAROM, which operates most of its flights to the same countries. TAROM carried 1.9 million passengers last year, while Blue Air carried 900,000 people.

Blue Air, a company that businessman Nelu Iordache created at the end of 2004, has been operating flights to these two countries since the beginning, as this is where the largest communities of Romanians are, but also offered flights to destinations in the Netherlands and Turkey in its first year in business, which it has since dropped. Blue Air's turnover has been doubling every year, with the leap from 24 milion euros in 2004 to more than 90 million euros in 2007 helped by new flights to the European peninsula. Now accounting for 50 to 60% of the market according to its representatives, Blue Air intends to maintain its leading position, although other players such as Wizz Air and MyAir are vying for precisely the same spot. Wizz Air concluded last year with business worth around 30 million euros and an estimated traffic of 415,000 passengers, close to MyAir's 420,000.

Whereas the number of destinations in France and Germany that Blue Air operates has not gone up that much since 2004, the number of airports in Italy amounts to seven and the number of weekly flights to destinations in this country has reached about 40% of the total. "We are still looking to boost the flight frequency to Spain and Italy, where we are tempted by 1 or 2 more destinations. The minimal occupancy rate that makes a flight to Italy profitable is 72-75%, while in Spain's case, to which flights take about three hours, we need a minimum occupancy rate of about 80%," Racaru explained, adding that no other country had such a high potential at present.

"We are looking at countries like Switzerland or Scandinavia for future destinations, as well as to the SE European region, to countries such as Ukraine, Croatia, Slovenia and Macedonia," Blue Air's manager adds.

Blue Air operates on three other airports outside Bucharest in Romania, Bacau, Arad and Sibiu, and is also seeking entrance on the Northwestern airports (Satu Mare, Baia Mare, Oradea).


Sursa: www.zf.ro/articol_167733

[TonyHub]

Altria Capital: No buyer pays last year's multiples any more

Autor: Ioana David Data: 07-04-2008
Ziarul Financiar

The mergers and acquisitions market will be less dynamic this year, with the number of deals, as well as the value of assets, already falling, while last year proved the most dynamic from this point of view.

"We will probably see fewer deals, at least in the first half. Last year, the value of deals amounted to certain levels. The expectations of those that target such deals this year are the same, however, no buyer or investment fund is willing to pay multiples valid last year for a company," believes Marian Tescaru, managing partner of investment banking firm Altria Capital.

Last year, the cumulated value of deals brokered by Altria exceeded 100 million euros. Altria Capital advised IT firms Net Consulting and FIBa Software in the sale of 70% stakes in each firm to Polish group Asseco, with the investment firm also taking part in the sale of a stake in Medicredit Leasing to Banca Transilvania.

"Romania, which used to be a focal point on the investors' map, is not so hot any more. Not because it is not a good country for investments or because companies are unprofitable, but due to the worldwide declines in the price of assets, investors are identifying new opportunities. They are no longer looking exclusively at Romania and forgetting about places like Poland or the Czech Republic, where prices were very high. They have all dropped," says the representative of Altria Capital, which last year advised the shareholders of Centrul Medical Unirea (Unirea Medical Centre) in the sale of a minority stake to 3i.

Most businesspeople see the value of Romanian assets as following a downward trend, which has been voiced by Dinu Patriciu, who gives the example of refining companies, which have seen a 50-70% decline over the last eight months.


Sursa: www.zf.ro/articol_167734

[TonyHub]

Linklaters wants to regain visibility in domestic M&A

Autor: Cristi Moga Data: 07-04-2008
Ziarul Financiar

From May 1, Linklaters' domestic office will have a new managing partner - Dan Torsher, who is currently in charge of the office in Bratislava.

Linklaters Miculuti, Mihai & Asociatii, the domestic office of one of the world's biggest law firms, went through a difficult period last year when Theodor Cominos, appointed as a partner in May, left the firm in September to take a partner position with a London investment fund.

"2007 was a strange year considering it is not often that a recently appointed managing partner chooses to withdraw so soon. The enthusiasm that emerged after his appointment vanished rapidly, but maybe this further motivated me to accept the position," states Marian Dinu, counsel at Linklaters since last September.

Dinu, 34, worked with Linklaters since 1999, and in early 2005 accepted an offer from Petrom, where he ran the law department for almost three years. "(...) I chose Linklaters again because I knew a series of people here and I considered I could find my place more easily," says Dinu, who now fills the position of head of corporate practice, a department that brings around 50% of the firm's revenues. The real estate field contributes around 30-35% to the company's revenues, while the rest is represented by banking services.

Under the influence of last year's transformations, Linklaters' turnover stagnated in 2007, according to the representatives of the law firm, whose communication policy is to report only global revenues.

"For this year, we plan to boost turnover by around 15-20%, consolidate our team and regain a strong presence in certain domains such as mergers and acquisitions, where we haven't been highly visible in Romania in the past 2 years," says Dinu.

Linklaters has around 30 lawyers in Romania and plans to add another 5-6 people by yearend. In terms of lawyers, Linklaters is a medium-sized firm domestically, given that the biggest players have around 70 or even 100 lawyers.

A unit called Emerging Europe was created inside Linklaters, which coordinates the firm's activity on markets where the company is not present with an office. "(...) Last year, around 80% of revenues came from Romania, but is expected to reach over 90% this year," says Dinu.


Sursa: www.zf.ro/articol_167735

[TonyHub]

Steilmann adds 20 stores to its network

Autor: Cristina Stoian Data: 07-04-2008
Ziarul Financiar

Steilmann now owns 60 stores domestically, while the group's policy pursues a 100-store network by late 2009.

"Investments in arranging a store revolve around 500 euros per square metre, while retail areas cover between 200 and 300 square metres," stated Romeo Pomponiu, general manager of Steilmann Bukarest, who also owns 49% in the company.

Miro Radici, the Italian group that took over the Steilmann brand internationally in late 2006, decided that the project to develop Steilmann Bukarest would also include taking over the management of Steilmann store networks in Central and Eastern Europe in countries like Czech Republic, Bulgaria, Hungary or the Republic of Moldova.

"Domestically, we've been present in almost all the cities in the country, in both large cities such as Timisoara and smaller cities such as Satu Mare, Baia Mare and Suceava (...)," says Pomponiu.

At present, almost half the stores opened under the Steilmann brand are present in malls and the company's development strategy more frequently includes these shopping centres.

The company's retail turnover amounted to about 21 million euros last year, while forecasts point to a more than 10% increase for this year, which would mean turnover worth above 23 million euros. However, the company's revenues stand at over 100 million euros, a value that includes retail operations in the countries Steilmann Bukarest coordinates and produces in. "For 2008, we expect a two-digit growth rate, which means turnover would go beyond 110m euros," says Pomponiu.

In Romania, the company owns seven factories in cities such as Satu Mare, Craiova, Sibiu, Sighetul Marmatiei and Mangalia, while the number of employees currently stands at around 4,000 people. "In the seven factories we'll manufacture around 10 million clothing units per annum, of which 80% will be exported. We also work for our stores and plan to boost the weight of production for our own stores in the future".

Besides Steilmann brand in Romania, Miro Radici also owns a clothing brand - Fill Good, which is sold in five stores, and plans to bring another two brands in a bid to diversify its public domestically.

Domestically, Steilmann has one of the largest store networks after Leonardo, which holds 146 stores domestically, and Jolidon, with 64 stores in the biggest cities.

In terms of production, Steilmann competes with famous producers such as J&R Enterprise Grup, controlled by businessman Joseph Seroussi and Brainconf, both of which present on the retail market with their NO 36 and Braiconf brands.


Sursa: www.zf.ro/articol_167736

[TonyHub]

Groupama, third on insurance market in 5 months

Autor: Angela Placinta Data: 07-04-2008
Ziarul Financiar

In just five months, the French firm bought three insurers for almost half a billion euros, with Groupama's name, almost unknown until late last year, now being frequently mentioned.

Groupama's big hit was the takeover of Asiban, ranking third domestically, which pushed it onto the third position among insurers.

In just five months, Groupama managed to achieve what other French groups did not in 18 years. It not only managed to enter the market, but also gained a top position, thus becoming the direct rival of Vienna Insurance (Austria) and Allianz (Germany) and the first French player on the domestic insurance market.

However, the price it paid for this performance is very high: 450m euros, close to the value of acquisitions Vienna Insurance operated in Romania.

Though little known in Romania so far, Groupama is an important financial group in the region, with operations both in Europe and Asia. In 2007, it posted turnover worth above 12.1bn euros, 6% higher year-on-year, while net income advanced at a much speedier rate, of 32%, to 793m euros.

The group has over 30,000 employees and it is active both in the fields of insurance and banking, as well as in other financial domains.

The group's first move domestically was the complete acquisition of BT Asigurari from Banca Transilvania. The move could not but amaze the entire market as no foreign investor had paid such a high price (100m euros) until then. Through this acquisition, Groupama came to account for 4% of a market that had reached 2.15bn euros last year.

The next move was a regional one, namely the purchase of OTP Garancia, the insurance unit of Hungary's OTP group.

Several months later, namely last week, the group announced its most important acquisition domestically, that of Asiban. With 350m euros, the price it will pay for the insurer, according to some market sources, Groupama has drawn the winning ticket. Perhaps not in terms of profit, as Asiban's income has been quite small in recent years, but certainly in terms of the size of the business.

Asiban ranks third on the market, having stirred the interest of some major financial groups that submitted binding bids to take over the company. However, the winner was Groupama, which was known right from the beginning to have the intention to bid aggressively to rapidly gain a top position on the market with the biggest growth potential in the region.

Asiban's takeover brought Groupama another 8.6% of the insurance market, with its share going up to almost 13%. The unknown name thus came to fight for customers with Allianz, owning the market leader, Allianz-Tiriac, and with Vienna Insurance, controlling 7 insurers.

In less than half a year, the French group came to call the shots on the Romanian insurance market.

Groupama

# In just 5 months, the French firm bought 3 insurers for almost half a billion euros

# Groupama's big hit was the takeover of Asiban, ranking third domestically, which pushed it onto the third position in insurers' top

# In 2007 posted turnover worth above 12.1bn euros, 6% higher year-on-year, while net income advanced at a much speedier rate, of 32%, to 793m euros

# Has over 30,000 employees and it operates in the fields of insurance and banking, as well as in other financial domains


Sursa: www.zf.ro/articol_167737

[TonyHub]

Automobile Dacia partially resumes production

Autor: Ziarul Financiar Data: 07-04-2008
Ziarul Financiar

Towards the end of last week Automobile Dacia resumed production and assembled 85 vehicles on Thursday, 94% fewer than the regular output of 1,350 units. Upon the partial resumption of production, the company's management announced that out of the total number of employees working in two shifts, only 3,002 workers went on strike, i.e. around 38.8% of the total number. Dacia's union leaders said that by resuming manufacturing using employees who were not on strike, the management of the car manufacturer was trying to force employees into ending the strike, but that the strategy would not work, because the 7,600 signatories of joint demands would not put an end to the protests. The company made another attempt to resume vehicle assembly on Wednesday April 2nd, by transferring team leaders and foremen to the assembly line, but the employees were against it. Ion Iordache, deputy-leader of Automobile Dacia's trade union added that in order to sustain employees who were involved in the strike for its entire duration, money would be distributed to cover the unpaid days of strike. The sums will come both from the trade union's funds and from those of Renault's French-based trade union. Given that so far Dacia's management has refused to meet the trade union's demands, and that the latter has rejected the management's three wage raise proposals, the only solution for putting an end to the conflict could be the verdict expected from the Arges Court on April 9th, when the legality of the strike will be discussed again.

Sursa: www.zf.ro/articol_167738

[TonyHub]

Mr. Bricolage store in Bucharest registers 15m-euro sales

Autor: Ziarul Financiar Data: 07-04-2008
Ziarul Financiar

Brico Expert, the company that operates the two Mr. Bricolage DIY stores on the local market, posted turnover worth 15.1 million euros (VAT exclusive), according to the financial report of French-based Mr. Bricolage. The turnover represents sales posted last year at Mr. Bricolage in the Vitan district in Bucharest, which until recently was the only store opened by the network on the local market. Romania's first Mr. Bricolage store, which covers almost 6,000 square metres, was opened in November 2006. Last year was, therefore, the first full year in business for the network in Romania. The sales target set by Mr. Bricolage for the Vitan store in its first year stood at 14 million euros. Last month, the DIY retailer opened its second store in Pitesti, which covers an 8,000 square-metre sales area, in the wake of investments worth around 7 million euros. This year, another opening is planned, according to Mr. Bricolage's financial report. This store could be located in Bucharest, according to previous statements from Brico Expert representatives, who specified that the plots that will house the future stores have been owned by the company for several years.

Sursa: www.zf.ro/articol_167740

[TonyHub]

Goodyear: All players will capitalise on the car market boom

Autor: Ziarul Financiar Data: 07-04-2008
Ziarul Financiar

Ovidiu Balan, the new general manager of Goodyear Dunlop Tires Romania, a company with turnover worth over 35 million euros a year, says tyre distributors will continue to see positive results due to the boom on the car market. "Ourselves, as well as the other players on the market will be able to capitalise on the 50% increase in the number of vehicles imported to Romania in 2007, and on the almost 110,000 domestically-manufactured vehicles being sold last year. I think these sales will bear fruit for us in around three years' time," says Balan, the new general manager since March 1, after Octavian Velcan was appointed as General Manager of Goodyear Middle East, based in Dubai. Over the last 2-3 years, the Romanian tyre market has increased by around 5-7% a year in terms of volume. The Goodyear representative estimates that this general sales trend will be preserved this year, as well." Last year, our growth rate amounted to 7-10%. I don't know if we will be able to exceed the 2007 growth rate this year," says Balan. The Goodyear representative believes that the second-hand tyre market is on a continuous downward trend. "In 2005, 20% of the tyres on the market were second hand ones. I think the percentage is now close to zero due to the disappearance of second hand tyre warehouses. This type of tyres will be replaced by Asia no-names," he added.

Sursa: www.zf.ro/articol_167742

[TonyHub]

5-star Radisson SAS hotel delays opening

Autor: Ziarul Financiar Data: 07-04-2008
Ziarul Financiar

Radisson SAS, the largest 5-star hotel in Bucharest, due to become operational this year, has put off its inauguration, which was originally set for the beginning of this month. "The reasons for the delay have mainly to do with weather conditions: this year's cold winter had an impact both on the work schedule, and on the transport of materials and equipment being brought from abroad," said representatives of BEA Hotels, the company that owns the former Bucuresti hotel. They also specified that this delay would not generate additional costs, with clients that have already made bookings being directed towards other hotels. The hotel's opening has been put off several times, which was initially announced for last year. The hotel's owners, however, say it will open by the end of this month. Radisson SAS will be the largest 5-star hotel in the Capital, followed by Marriott, which will have a 424-room capacity. Company representatives forecast they will post a turnover at least equal to that of Marriott, which posted 38.5 million euros in 2006, according to the Finance Ministry.

Sursa: www.zf.ro/articol_167743

[nebunul]

APRIL 2008 - FOREIGN INVESTMENTS - www.thediplomat.ro

GERMANY
• Spice firm centres logistics in Arges
Condiments producer Fuchs Condimente Romania will invest around ten million Euro in the construction of a new production and logistics centre in Curtea de Arges, Arges county. The new plant will become operational in 2009 and will employ 300 workers. The logistics centre will serve Romania and all European countries where Fuchs is present.
• Cash and carry heads to Braila
Selgros Cash&Carry Romania has invested up to 20 million Euro in opening a new store in Braila. The outlet covers 10,000 sqm and has 350 employees. By the end of 2008, the German company has planned to open another store, but as The Diplomat went to press Selgros was not decided on the location.
• Budget clothing ups branches
Budget clothing retailer Takko Fashion International will open another 15 stores this year creating about 150 jobs. The retailer entered the Romanian market in 2007 and has so far opened eight budget stores all over the country. By 2010 Takko plans to reach one hundred stores in Romania.

GREECE
• Apartment blitz set for Bucharest
Construction and development company Raptis Kavouras will invest 58 million Euro by the end of 2009 in three residential projects in Bucharest. The first project will start construction this May on Strada Moliere in Primaverii. The building will have 23 luxury apartments and the total investment will reach 17 million Euro. The second project will start in autumn 2008 in a mixture between 75 apartments and 4,000 sqm surface of offices. In 2009, Raptis Kavouras will begin its third project worth 21 million Euro for 200 luxury apartments near the Bucharest Zoo.

ISRAEL
• Apartment project for centre capital
Real estate developer Ocif Group has invested 20 million Euro in the development of a residential complex with 110 apartments in a building located on Strada 11 Iunie, near Piata Unirii in Bucharest. Construction works on ‘Vivando Unirii’ started last November and are expected to finish in June 2009. The building comprises one to four room apartments with areas ranging between 37 and 176 sqm.

FRANCE
• Six new hypermarkets for 2008
Carrefour plans to invest this year 120 million Euro in six new more stores in Oradea, Arad, Pitesti, Suceava, Iasi and Bucharest, according to Business Standard. Last November, Carrefour purchased the Artima chain of supermarkets for 55 million Euro.

ITLAY
• Bank plans 70 more branches
Unicredit Tiriac Bank plans to expand its network by 70 more branches and to employ a further 1,000 people this year. At the end of 2007, Unicredit Tiriac Bank had 141 branches, 600,000 clients, 2,600 employees and registered an increase in net profit of 50 per cent. “This stems especially from the corporate segment and treasury activity,” said Rasvan Radu, executive president of UniCredit Tiriac.

USA
• Freight service buys local contractor
Freight and delivery service giant UPS has bought Romanian-owned Trans Courier Service (TCS) which has been its service contractor in the country since 2000. The transaction will be completed in the second quarter of 2008, estimates the US company. “With direct control of our own network, UPS will have the flexibility it needs to expand operations and to invest in infrastructure, technology, brand presence and employee development,” said the president of UPS Europe, Wolfgang Flick. TCS has 100 employees.
• Law giant enters under own steam
White & Case LLP has opened its office in Romania and is managed by partners Todd Shollenbarger and Delia Pachiu, both formerly of Linklaters Romania. The firm has lawyer to partner ratio of ten to two and plans to further expand the headcount and specialisations. The team will begin by focusing on real estate, finance, M&A, private equity and energy.
• Outlet complex set for west capital
US real estate developer Mega Company will invest around 80 million Euro in the development of an outlet centre in west Bucharest on the A1 motorway near the Ring Road, on an area of 38,600 sqm. The Factory Outlet Center will include fashion stores, sportswear, home decor, concept stores, several coffee shops and a food court. Construction works started this spring and the first of the two phases is expected for delivery this autumn. Mega Company specialises in the construction of large commercial, industrial and retail projects.

NETHERLANDS
• Furniture brand expands
This year, oak and pine furniture producer Quadra Invest is opening two new European Heritage stores in Bucharest and Sibiu and a showroom in Targoviste, Dambovita county. Quadra Invest currently sells its 18th century-style furniture in its European Heritage store in Bucharest’s Historic Centre and opened a second store inside Bucharest Home & Design Mall last March. The company started its business in Romania with a furniture factory in Targoviste.
• Bank continues organic option
ING Bank will open 40 new branches in retail banking and six more branches for wholesale banking this year. In 2007, ING Bank Romania doubled its number of clients in retail banking to 500,000 clients and by the end of 2008 the bank plans to reach 750,000 customers. The bank currently has 29 wholesale branches and 147 retail branches.
• Beer giant targets local brewer
Beer producer Heineken has purchased the Romanian owner of the local beer brand Neumarkt, Bere Mures, subject to approval by the Competition Council. Heineken officials did not reveal details of the value of the deal, but last December, Bere Mures stated to Ziarul Financiar that they were expecting offers of between 150 and 200 million Euro. Bere Mures has a market share of six per cent and this could increase Heineken’s market share to 31 per cent of the Romanian market. Bere Mures produces Neumarkt, Sovata and Graf Dracula in a factory in Targu Mures, Transylvania and has 394 employees.

[Le Clerk]

Expansion of Tetarom 3 (the 3rd industrial park near Cluj) will bring Cluj on the 2nd place in terms of industrial parks, thus leaving Ploiesti industrial park behind on the 3rd place. Tetarom 4 is under discussions for opening.

American industrial giant Emerson will open a production facility on April 15. Emerson plans a total of 6 production plants near Cluj.

Siemens will also open a production facility in May this year.




Clujul ar putea deveni noul pol romanesc al parcurilor industriale

Publicat pe 07 Apr. 2008
Parcurile industriale din Cluj, administrate de Tetarom, ar putea forma cel mai mare centru industrial al Romaniei in urma extinderii Tetarom 3, detronand astfel centrul din Ploiesti, a declarat Viorel Gavrea, directorul general al companiei.

"Parcurile de sub sigla Tetarom se intind in prezent pe o suprafata totala de 198 hectare, cu 10 hectare mai mica decat cea pe care este amplasat Parcul Industrial Ploiesti. Daca ne extindem la Tetarom 3, trecem pe primul loc. Daca vom infiinta si Tetarom 4, nici nu se va mai pune problema (n.r.- asigurarii pozitiei de lider)", a declarat pentru DailyBusiness oficialul Tetarom.

Conducerea Tetarom intentioneaza sa extinda parcul industrial Tetarom 3, unde se afla si Nokia, cu 170 hectare. Realizarea acestui proiect depinde insa de Guvern.

Totodata, compania care administreaza cele trei parcuri industriale de la Cluj poarta discutii pentru realizarea unui nou parc, Tetarom 4. Acesta ar putea avea o suprafata de 200 hectare, ceea ce va creste cu peste 50% aria centrului clujean.

Pentru realizarea Tetarom 4, Gavrea considera ca locatia de la Savadisla, de langa Cluj, este cea mai potrivita, deorece aceasta prezinta o serie de avantaje ca situarea langa autostrada si acces la forta de munca.

Pe de alta parte, plasarea Tetarom 4 la Savadisla are anumite inconveniente legate de lipsa utilitatilor. Directorul general al Tetarom estimeaza ca investitiile in acest nou parc industrial vor depasi 20 milioane euro, jumatate din suma fiind necesara numai pentru alimentarea cu energie electrica.

Investitii de 500 mil. euro, atrase in 7 ani

Viorel Gavrea, fondatorul Tetarom, a mai spus ca trei fonduri de investitii sunt interesate de achizitia acestei afaceri, estimate la circa 50 milioane euro.

Gavrea a precizat ca din 2001, de cand a pus bazele Tetarom, si pana in prezent, a atras investitii de jumatate de miliard de euro.

Valoarea investitiilor in parcurile industriale Tetarom ar putea creste semnificativ, avand in vedere sumele anuntate de companiile care isi desfasoara afacerile pe aceste platforme.

Astfel, printre cele mai mari investiti anuntate in parcurile industriale Tetarom se numara cele ale Nokia, Siemens sau Emerson.

Finlandezii de la Nokia, care deja au produs primul telefon mobil la Jucu, au anuntat o investitie initiala de 60 milioane euro.

Concernul american Emerson, venit la Cluj de anul trecut, a anuntat o investie initiala de 75 milioane euro. Potrivit lui Gavrea, investitiile totale ale Emerson vor depasi 125 milioane euro in urmatorii patru ani.

Emerson deschide prima fabrica de la Cluj pe 15 aprilie

Oficialul Tetarom a adaugat ca Emerson vrea sa deschida sase unitati de productie la Cluj si ca prima fabrica va fi inaugurata pe 15 aprilie.

Concernul american Emerson este unul dintre cele mai mari grupuri de firme producatoare din domeniul industriei constructiilor, electronice, automatizarilor industriale, telecomunicatiilor si aparatelor de masura.

Grupul german Siemens va deschide la randul sau prima unitate de productie din centrul industrial Tetarom in luna mai a acestui an, potrivit lui Gavrea. Venirea Siemens in centrul Tetarom s-a realizat in urma achizitiei companiei Frofis. Aceasta a investit circa 3 milioane euro in doua cladiri din incinta centrului, la jumatatea anului 2006.

Principalii furnizori de servicii de telecomunicatii in cadrul parcului Tetrarom pentru companiile care isi deschid sau au inaugurat deja sedii sunt Orange, Vodafone si Romtelecom.

[Cosmin]

:nono:Third after Bucharest! Constanta will be no. 1 in everything... just ask Tony Montana.:crazy:

What exactly will Siemens produce there? Mobile phones?

[d29]

We don't really give a shit, do we? No matter where these automotive companies and other such entities will settle, the overwhelming majority of them will still need to ship their products through our harbour. CT should focus solely on logistics, trade, transportation, distribution and let go of the rest, including tourism.

TonyMontana is a joke though. :nuts: :bash:

[TonyHub]

Raiffeisen Evolution to start works on Floreasca City

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

Real estate developer Raiffeisen Evolution, a division of Austrian financial group Raiffeisen, will start construction works on the mixed project Floreasca City in Northern Bucharest, which entails a 200-250 million-euro investment. "Octagon was designated as builder of the foundation, with procedures to designate the general contractor being currently underway. It was decided for both the mall and the office block to be delivered at the same time, because it is difficult to operate one facility while the other is being built," said representatives of the developer. The project will consist of a mall (Promenade Mall), an around 130 metre-tall office tower (Sky Tower), and another office building. Promenade Mall could be the second mall in the North of the Capital, after this month will see the opening of Baneasa Shopping City, the largest shopping centre in both Bucharest and Romania. In Bucharest, besides the four already existing shopping centres, another 17 projects of this type have been announced, which will be developed in the coming three-four years.

Sursa: www.zf.ro/articol_167904

[TonyHub]

Orkla Foods: restructuring due to poor results

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

The local branch of the Norwegian group Orkla Foods reported a significant decline in sales and profit last year, against the previous year, and started a restructuring process, according to data published in the Norwegian group's report. Orkla Foods Romania (OFR) has reduced the value of its intangible assets, which are mainly brands, by 286 million Norwegian kroner (35 million euros), after the results in 2007, according to the same source, which, however, does not specify the value of OFR's intangible portfolio. The company holds the Ardealul, Tomi, Bunica, Wiesana, Linco, Unirea, Holland and LaMinut brands. "The business in Poland, the Czech Republic and Romania, saw a significant decline," shows the Norwegian group's report, which, however, fails to specify the value of sales and net profit on the local market. According to previous information provided by the company, sales of margarine (a segment that fetches almost 50% of OFR's local business) declined 15% last year on the local market.

Sursa: www.zf.ro/articol_167903

[TonyHub]

Greek-based Alpha AM, minus 20% in Romania

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

The Bucharest stock exchange brought investment fund Alpha Romania Foreign Balanced Fund, managed by Alpha Asset Management, a minus 19.4% yield in the first four months of the year, with SNP Petrom and BRD SG stock holding the biggest share in the Greek fund's asset portfolio. The fund was set up at the beginning of last year and now manages assets worth around 28 million euros. "Being a balanced fund focused on Romania, Alpha Romania Foreign Balanced Fund can invest 65% of its assets in Romanian equity, according to its prospectus. Currently, around 30% of the fund's investments are in Romanian government securities," Dimitris Tamvakas, head of the development department for South-Eastern Europe, and senior fund manager at Alpha AM, told ZF. The Alpha investment fund, dedicated to the local market, saw a minus 19.41% yield in the first four months of the year, the lowest among the balanced funds managed by the Greek company, according to the company's daily report.

Sursa: www.zf.ro/articol_167902

[TonyHub]

Gipo forecasts turnover worth 15m euros

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

Egibo, owner of the Gipo store chain, which distributes and sells fishing, hunting, camping, sports, and gardening equipment, has budgeted turnover worth 15 million euros for 2008, up 85% against last year. "We target a 14-15 million-euro turnover for the whole company this year, around 85% more than in 2007, and a 10% profit rate," says Horia Galateanu, general manager of Gipo. Half of the turnover, i.e. around six or seven million euros will come from sales derived by the Gipo store chain, specialised in fishing, hunting and camping equipment, which means a 50-60% increase against 2007. The company saw a 62% turnover increase last year, reaching 8.1 million euros, after being taken over by Gemisa's private equity fund for 900,000 euros. "We started a more aggressive policy to boost the turnover in line with the shareholders' goals. As a first step, we developed distribution to independent clients, to key accounts and to the big hypermarkets and cash & carry stores, and we brought new fishing tackle brands into our portfolio," explains Galateanu.

Sursa: www.zf.ro/articol_167901

[TonyHub]

Interest rate increase tempers consumer demand

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

The growth rate of consumer credits slowed down in the first month of the year, marking a 3.1% monthly advance, given that banks significantly increased interest rates since last autumn, amid a strengthening of the NBR's (National Bank of Romania) monetary policy. After eight straight months in which the volume of consumer credits advanced by over 4.5% a month, loans taken out by the population amounted to a volume of 56.8 billion RON in January, 3.1% higher than in the preceding month. From January 2007 to January 2008, only February 2007 saw growth rate fall under 4.5%, when the volume of consumer credits reported a 2.7% increase, shows NBR data. The slowdown in growth comes amid a one percentage point increase in the average interest rate for consumer credits (to 17.8% a year), while credits in euros became almost half a percentage point more expensive, and reached 11.15% a year. Credits in RON became more expensive amid a strengthening of the monetary policy, with the NBR increasing the interest rate from 7% in September, to 9% at the beginning of February, and 9.5% at the end of March.

Sursa: www.zf.ro/articol_167900

[TonyHub]

Insurers plummet on Stock Exchange in Q1

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

The four insurance companies listed on the Bucharest Stock Exchange have seen their shares fall by as much as 53.8% since the beginning of this year, following the general trend of the market. Asirom, Astra, Ardaf and Agras lost almost 143 million euros of their capitalisation in the first quarter of the year. The value of the four insurers declined from 364.2 million euros, at the beginning of the year, to 221.5 million euros at the beginning of this month. Asirom's shares saw the sharpest decline -53.8%, followed by Agras shares - 30.7%, Astra shares -28.9%, and Ardaf- 21.8%. In comparison, the BET index, which gauges the performance of the most liquid companies on the market, has dropped by around 25% since the beginning of the year. During the same period, the BET-FI index, which follows the progression of financial investment companies (SIF), has gone down by over 28%, and the general index of the market, which includes all Stock Exchange-listed companies, dropped 22%.

Sursa: www.zf.ro/articol_167899

[TonyHub]

Erste: Romania could be the first market in the region to recover

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

The shares of the main companies on the Stock Exchange saw increases of up to 5% yesterday amid high traded volumes, after the market showed signs of a revival as early as last week. The SIF (Financial Investment Companies) gave the lead, with an average 3.2% increase, while the shares of companies included in the BET index went up by 2.2%. Analysts of Austrian-based Erste Bank, majority shareholder of the BCR (Romanian Commercial Bank), estimate that Romania could be the first South-Eastern European market to enjoy a more extensive revival, although the region is somewhere at the bottom of the list of Erste's recommendations. According to Erste, Romanian shares are no longer very expensive, compared with those on other markets in the region, being traded at an average P/E (price/earnings ratio) of 13.2 and 9.5, respectively, for earnings forecast for 2008 and 2009. Analysts of the Austrian bank also say macroeconomic risks concerning the current account deficit and the trend of the exchange rate are acceptable for a market in the current state of development, being largely offset by foreign direct investments. Erste also says that over a third of the foreign investors interviewed in a poll conducted by the Centre for European Economic Research (ZEW) indicate that Romania is most attractive target for foreign investments in the region, alongside Poland.

Sursa: www.zf.ro/articol_167898

[TonyHub]

Why major retailers are leaving Calea Victoriei

Autor: Cristina Stoian Data: 08-04-2008
Ziarul Financiar

Rents in excess of 100 euros per square metre, poor pedestrian access, and the lack of car parks have caused some of the most luxurious brands to flee the main streets of Bucharest. What are luxury sellers' solutions given that their brands do not always fit in with mall-type shopping centres? Some have chosen to close their shops, while others say they're willing to wait until Bucharest has a genuine fashion district. Still, there are also some retailers that opt for shopping centres, even though their products are way above the average of products normally sold in such places.

"Calea Victoriei is simply not good for business any more, rents are very high and the flow of customers very low. We're witnessing a heavy decline in terms of sales in 2007 and 2008 compared with 2006," says Anca Matei, Nexus stores manager. Moditailia, the footwear and accessory retailer that operates under Nexus brand, had, until earlier this year, six stores in central Bucharest, two of which on Calea Victoriei. The company has decided to scale down its operations, and close one of the two stores.

Despite the level of European rents, Bucharest still lags behind several cities like Budapest and Vienna. Victoria Square, where some major luxury brands have managed to gain a foothold, does not have sufficient pedestrian access points, car parks, meant to offer the maximum access and comfort for visitors, and rents are inflated, say retailers.

There are also many companies that are waiting for these features to come to Romania, especially as the brand they represent does not match a mall-type shopping centre profile.

The rent per square metre in the area where Moditalia had two stores stands at 140 euros, a reason why other retailers chose to close their stores. Yet, other retailers have opted for a new strategy, opening stores in commercial galleries. Cristina Zaharide, the representative of Lancel, the luxury handbag and accessories store, says that in terms of expenses and profit it is much better for such stores to develop in a shopping centre.

Retailers are also avoiding other central areas, like Magheru and Dorobanti, because of the high rents and the strong presence of banking branches. Another solution would be the creation of leisure spaces, with parking lots and entertainment spaces, restaurants and coffee shops and fashion shops, with targeted areas including the Historical Centre and Unirii Boulevard.

However, companies are accusing authorities of not drawing up a concrete plan to guide retailers. The lack of such a plan has led to a dwindling flow of visitors, as people are not attracted by what is currently on offer in the central streets of Bucharest.

"There must be an intelligent policy for the creation of such a lucrative area considering economic, administrative and political factors, which changes periodically, just like fashion. For this, one needs know-how, and the necessary infrastructure must be created (...)," explains Romeo Pomponiu, general manager of Steilmann Bukarest.

Exits from Calea Victoriei

# Lancel handbag store, Nexus footwear retailer and Vans sportswear importer are among retailers closing stores on Calea Victoriei because of the high rents

# Rents in central streets top 100 euros per square metre

# The Historical Centre is one of the most attractive areas for footwear and apparel retailers due to the number of large pedestrian streets in the district


Sursa: www.zf.ro/articol_167897

[TonyHub]

BCR sees highest assets per employee

Autor: Liviu Chiru Data: 08-04-2008
Ziarul Financiar

BRD-SocGen employees last year generated an individual profit twice as high as that derived by the employees of BCR, Raiffeisen or Banca Transilvania. However, all four banks stand above the system average.

Despite BCR retaining the position of the biggest bank in the system, in terms of the value of owned assets, its employees in 2007 generated the smallest individual profit considering the net income reported in line with Romanian accounting standards.

Whereas a BRD-SocGen employee generated net income worth 38,678 euros, their colleagues at BCR registered just 14,991 euros.

Banks ranking 3rd and 4th in terms of total assets, namely Raiffeisen Bank and Banca Transilvania, had very similar results. However, Banca Transilvania employees last year generated net income worth 17,516 euros, above the one registered at Raiffeisen Bank, of 16,175 euros.

However, reported results are not entirely comparable, as for BCR, BRD-SocGen and Banca Transilvania did their reporting in line with Romanian accounting standards, while Raiffeisen reported data only in line with IFRS. Hence, there are significant differences in terms of indicators in the case of the four banks.

BCR is still by far the biggest player in terms of assets, with a total of 16.5bn euros last December. As the bank underwent a personnel-restructuring process, it also comes first in terms of assets per employee. BRD is catching up rapidly, with assets of 1.52m euros for each of its 7,104 employees, getting close to BCR level, of 1.68m euros/employee.

Raiffeisen had assets worth 755,448 euros for each of its 5,827 employees, while at Banca Transilvania each employee generated assets worth 658,514 euros. Raiffeisen's assets last year posted marginal growth, to 4.4bn euros as the bank outsourced a significant part of released financing to its majority shareholder.

Under the circumstances, Banca Transilvania significantly narrowed down the difference, with 3.8bn euro assets.

In terms of generated income/ branch, BRD leads again, though it operates the biggest territorial network among private banks, with 806 branches in December. Each BRD branch generated income of almost 341,000 euros, compared with 262,260 euros at BCR, ranking second. Raiffeisen and BT have similar performances again as incomes and networks have similar sizes.

BRD also comes first in terms of the efficiency indicator increase. The bank last year had ROE of 35.6%, followed by Raiffeisen with 30.8%. BT had a 28% ROE, while BCR stayed at 20.6%. BRD also holds the leading position in terms of operating costs/net banking revenue, with 43.5%, compared with 57% at BCR.


Sursa: www.zf.ro/articol_167896

[TonyHub]

Wine sales shift from restaurants to supermarkets

Autor: Ioana David Data: 08-04-2008
Ziarul Financiar

Wine sales in super and hypermarkets have gained further ground against those operated through traditional channels such as hotels and restaurants, and accounted for 70.9% in overall sales by late 2007, from 67.9% in 2006, according to data provided by MEMRB market research company.

On the other hand, wine sales through hotels and restaurants dropped from 32.1% in 2006 to 29.1% in 2007. The trend became visible as early as the start of the year, according to MEMRB data, and came amid the strong expansion of the Key Account International segment compared with the development posted by the on-premise segment.

The question is, how much longer will this trend last? Wine producers' representatives say there is no chance of this trend being reversed on short or medium term, with the phenomenon likely to be influenced by a series of factors, such as the offer players are or are not willing to adapt for the on-premise segment.

"It's a delicate issue that is related to the changing consumption habits and will therefore last over the short and medium term (...)," believes Daniel Negrescu, Murfatlar brand manager.

Another factor would be an improvement in the quality of services.

Amid the strong expansion of modern supermarket networks, wine producers have also modified the weight of sales. Sale prices in this channel are smaller than on-premise ones and as a result the impact over turnover has been negative.

In terms of changes, it is worth mentioning the rising weight of red wine, to 32.3% last year from 31.8% in 2006, even though wine remains dominant in Romanians' consumption habits.

In terms of segmentation, over 70% of the market is held by wines sold in 0.75 litre volumes, according to MEMRB data, slightly lower than in 2006. There is also a slight decrease in the weight of PET-packaged wine sales to 13.8% from 14.4% in 2006.

According to MEMRB data, the top five wine producers held a cumulated market share of 63.9% last year. 2007 marked the open competition between domestic wines and imported ones, with the latter's advance not being as strong as initially expected. Last year also brought the closing of stores two specialised retailers held in Bucharest- Depozitul de Vinuri and Vinlux.

Currently, the wine market is estimated to be worth 450m euros.


Sursa: www.zf.ro/articol_167895

[TonyHub]

Provincial deals involving malls prevail in 2007

Autor: Cristi Moga Data: 08-04-2008
Ziarul Financiar

Arad, Baia Mare, Pitesti, Galati, Craiova and Ramnicu Valcea are some of the cities that witnessed deals in 2007, thanks to investments in malls, reveals the Top Deals yearbook, compiled by ZF. Bucharest was not overlooked, either, after Africa Israel paid 80 million euros for 50% in the AFI Cotroceni Park project.

Last year, deals involving shopping centres were mainly concluded outside the capital city. Increasingly more provincial cities saw malls (even in the early stages of development) being transferred from the hands of developers, into those of investors.

The number of moves was not much larger than in 2006, however, last year saw the entry of investors with experience in malls, such as Sonae Sierra and ING Real Estate, which took their first steps onto the local market.

Portugal-based Sonae Sierra counts among the most active players on the shopping centres market, and has become involved in five different projects in less than one year.

Therefore in May last year, after its first acquisition on the local market, River Plaza mall in Ramnicu Valcea (42 million euros), the company announced another two investments in Craiova and Ploiesti, where it will develop two new shopping centres worth 300 million euros.

Sonae Sierra also took over the management contract of the Arena mall in Bacau, and is in advanced talks to take over a 50% stake in this shopping centre. Recently, the company has closed a partnership with Irish-based Caelum Development, to jointly develop the largest mall in Romania - Parklake Plaza, following an almost 600 million-euro investment.

Another major European player, which last year made its first step on the local shopping centres market is Dutch ING Real Estate, which took over the shopping gallery of the Felicia Shopping Center in a deal worth 40 million euros.

In fact, the two companies are the co-owners of one of the largest malls in Europe, Centro Colombo in Lisbon, which offers a lettable area of 120,000 square metres.


Sursa: www.zf.ro/articol_167894

[TonyHub]

This year's exits make 20 new millionaires in euros

Autor: Ziarul Financiar Data: 08-04-2008
Ziarul Financiar

The cumulated value of exit deals conducted by local entrepreneurs reached 360 million euros in the first three months of this year, according to the data centralised by ZF. Those that created such businesses as Bere Mures, LaborMed Pharma, Bengoss, Simcor, Buzesti Business Center and Curiero decided that the business had matured and the time had come for financial or strategic investors to take over. From businesses started after the Revolution, they have developed these companies to values that are close, or sometimes exceed, 100 million euros in such fields as beer production, drug manufacturing and constructions.

However, even though advisers and representatives of investment funds have often said the demands of local entrepreneurs are "unreasonable", they managed to strike these deals with the veterans of their fields.

All these deals were finalised at a time when the value of Romanian assets had been plummeting, while both sellers and buyers are on stand-by, with the former expecting an even bigger decline on the merger and acquisitions market this year.

According to ZF's calculations, the entrepreneurs that gained the most money from these exits at the beginning of this year were the shareholders of Bere Mures Virgil Mailat, Grec Gheorghe and Morariu Emil, who will receive 37.5 million euros each after a deal worth at least 150 million euros, while Rus Alexandru, Bacila Nicolae and Rujiu Anghel are set to gain approximately 12.5 million euros.

Shortly after the deal was announced, Mailat, the highest-profile of all the former shareholders at Bere Mures, and the one who introduced the PET bottled beer on the market, announced he would invest some of his money from the deal in private clinics in Mures County. On the other hand, Morariu's plans target investments in real estate.

Another major deal, the takeover of LaborMedPharma, put 8.1 to 32.1 million euros into the accounts of the sellers, Marilena Jiquidi, Ionel Lovin, Iliana Ghita, Constantin Mircioiu, Georgi Stoyanov Georgiev, according to ZF's calculations that took into account a value of 123 million euros for the deal.

As far as the construction sector is concerned, the sale of Bengoss Comimpex put almost 20 million euros into the accounts of Corneliu Stan, while the exit from the Simcor group of companies will bring businessmen Stache Lutz and Mihai Voiculescu about 53 million euros.

Among the newest millionaires are the Chirescus (husband and wife) who sold the Buzesti Business Center building, as well as Minea Bogdan Emilian, Coman George Cosmin and Stefan Cosmin Neagu, as a result of the sale of 25% in Curiero to Asesoft.

The record holder as far as exits by Romanian entrepreneurs are concerned is by Dinu Patriciu, who sold 75% in Rompetrol in a deal put at 2.7 billion dollars.

The best-known entrepreneurs who have yet to part with their businesses are Cezar Rapotan (owner of Arabesque), Viorel and Ioan Micula (European Drinks), Ioan Ciolan (Ambient), Dan Ostahie (Altex) and Dan Sucu (Mobexpert).


Sursa: www.zf.ro/articol_167892

[Le Clerk]

The Diplomat
April 2008


The Romanian Government has signed a 24.7 million Euro financing agreement for the construction of the ring road around Lugoj city, Timis county. Portuguese JV Monteadriano Engenharia E.Construcao - Sociedade Construcoes da Costa is the main contractor of the project, set for delivery by 2010. The 26.5 million Euro project is co-financed by the Romanian Government through the state budget and the European Commission through an ex-ISPA facility. The ring road will be 9.6 km long, 12 metres wide and will have three traffic lanes. The project also includes the construction of a bridge over the Timis river and two passageways.

^^Some good news. :cheers:
However, is it 3x3 lanes or is it just 3 lanes? :nuts: I guess it should be 3x3, right?

[TonyHub]

Boehringer Ingelheim targets 2% of pharmaceutical market

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

German pharmaceutical company Boehringer Ingelheim, with a global turnover worth over 10 billion euros, intends to reach a 2% market share in Romania in the coming five years, double against the current share. "Last year, we ranked 28th among players on the local pharmaceutical market, and a doubled market share could enable us to reach the 15th position. In 2007, our Romanian sales advanced by around 31%, one of the fastest growth rates in the group," said Dan Ionescu, corporate affairs manager of Boehringer Ingelheim Romania. The German manufacturer started its operations on the local market in 1970, and in 1990, a representative office was set up, which employed one person. Currently, Behringer Ingelheim Romania employs 77 people, while sales amount to 22.4 million euros (drugstore prices).

Sursa: www.zf.ro/articol_168009

[TonyHub]

Vel Pitar invests 200,000 euros in traditional cake promotion

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

Bakery producer Vel Pitar, with turnover worth over 130 million euros locally, will invest 200,000 euros (rate card sum) in April, in order to promote a new range of traditional cakes. Following this campaign, the producer expects a 50% sales increase against last year during the Orthodox Easter holidays. "Traditional cakes are one of the top five categories in Vel Pitar's portfolio, and we put a lot of effort into developing this segment. Whereas last year, we had a 10% share of the traditional cakes market, according to the study conducted by MEMRB on sales in international store chains, this year, we want to boost our market share by 50%," said Razvan Mircea, Vel Pitar's national marketing director. According to the company representative, Vel Pitar, could reach 15% of the traditional cakes market this year. In order to meet this target, Vel Pitar will invest around half the sum allocated for promoting the new range in media campaigns and in on-shelf promotion. "100,000 euros (rate card sum) will be allocated to an Internet banner campaign," added Mircea.

Sursa: www.zf.ro/articol_168008

[TonyHub]

Real hypermarket kick-starts expansion in South Bucharest

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

Real, a company held by German group Metro, will open its first hypermarket in the Berceni district of Bucharest this week, following investments estimated by ZF to be worth over 25 million euros. The move will be followed by the launch a similar-size store belonging to French retailer Carrefour, as well as by a Cora store in the same Southern district of Bucharest, projects which will be completed in 2009. Real and Carrefour are the only hypermarket networks to have announced new stores this year in Bucharest. The battle is now fought in districts that have so far lacked such forms of retail, Vitan and Berceni, and, as of next year, major retail operators in the field could focus their interest on areas where competition is nonexistent on this segment. One such example could be residential district Cotroceni, where Real will open a store in a mall scheduled for completion in 2009.

Sursa: www.zf.ro/articol_168006

[TonyHub]

Will Vegastel be the next deal in mobile telephony retail?

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

The maturing of the of the local mobile telephony market, which has meant lower revenues for the partners of mobile telephony operators on this market, will accelerate the wave of consolidations on the GSM retail market - with the preferred acquisition targets expected to be owners of large store networks, with as many stores as possible in shopping centres. According to several sources on the local GSM retail market, Vodafone is in takeover talks with the Vegastel group, held by businessman Adrian Prodan. The Vegastel group, headquartered in Botosani, retails Orange, Vodafone and Cosmote products, through three companies: Vegastel - Orange partner, Cosmoplus - Cosmote partner, and Voxtel - Vodafone partner. The owner of Vegastel, however, has denied negotiations with Vodafone. "These are just rumours, which are damaging my relationship with Orange Romania," Prodan told ZF, adding, however, that his intention to sell Vegastel remained valid.

Sursa: www.zf.ro/articol_168005

[TonyHub]

Listed companies choose credits over capital increases

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

The low appetite for investments on the Stock Exchange has deterred companies from raising money from the market via capital increases, resorting instead to bank credits to cover their funding requirements. Over the last three months, companies listed on the Stock Exchange turned predominantly to bank loans to fund their investments, after fewer and fewer companies resorted to capital increases via cash payment through bond sales. According to statistics compiled by ZF, in the first three months of the year alone, 15 small and medium-sized companies, mainly listed on the RASDAQ market, attracted or voiced their intentions to take out new credits worth over 230 million euros in total. On the other hand, the number of companies on the market currently undergoing capital increases through cash payment is significantly lower than last year, after the planned credits saw a significant decline. "Investors are no longer willing to buy shares and bonds, because they entail a higher degree of risk. Under the current market conditions, investors are reticent towards risky instruments," says Horia Simu, chairman of Cuprom Bucuresti, one of the main shareholders of mineral water producer Lipomin Lipova, which has recently opted for credits worth 17 million euros, over a 20 million-euro bond issuing.

Sursa: www.zf.ro/articol_168004

[TonyHub]

Two Cargo Partner managers become shareholders of IB Cargo

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

Cargo Partner managers Kees Cramer and Catalin Putineanu are leaving to become managing partners with a German-Dutch joint venture - I. B. Cargo, which is also involved in transport and logistics. The two companies (Interfracht - Germany, and Beyer Logistiek - Netherlands) both hold the majority stake in I.B. Cargo and entered the local market in February of this year, operating in transport and logistics. Interfracht posted turnover worth 120 million euros in 2007, while Bayer's business stood at 20 million euros last year. The two companies hold 35% each in I.B. Cargo, with the remaining 30% equally distributed to Kees Cramer and Catalin Putineanu. Kees Kramer was managing director of Cargo Partner for Romania and the Republic of Moldova, and Catalin Pruteanu held the position of maritime transport manager for Romania and the Black Sea Region. So far, top changes in management have mainly taken place in courier services. For instance, Felix Patrascanu, one of the three partners of Fan Courier, previously worked at the courier firm Cargus, while Octavian Badescu gave up his position as a manager of the local courier firm Alo Curier, and relinquished his shares.

Sursa: www.zf.ro/articol_168002

[TonyHub]

E.ON Gaz threatens to cut off gas supply

Autor: Ziarul Financiar Data: 09-04-2008
Ziarul Financiar

From the third quarter of the year, E.ON Gaz Romania intends to increase gas prices by 19%, otherwise the level of imported gas will be reduced, which could mean some consumers' gas supplies are cut off. Company officials say losses in the first half of the year, which amounted to 45 million RON, were caused by the end consumer price remaining constant, and to the higher cost of imports. The request filed by E.ON Gaz comes after a 8.5% increase was made in February, while on April 1, the Romanian Energy Regulatory Authority (ANRE) decided to preserve the end consumer price. At the beginning of the third quarter, E.ON Gaz expects the price of imported gas to reach 470 dollars per one thousand of cubic metres, while the price considered by ANRE remains at 370 dollars per one thousand cubic metres. By the end of the year, gas prices could reach as much as 500 dollars per cubic metre, considering the recent rises in the price of an oil barrel. Company representatives estimate that if prices do not increase soon, the result will be higher prices in the future amid company losses. "Since significant financial damage to the company is not an acceptable alternative, E.ON Gaz Romania will be forced to reduce its volumes of imported gas. This will lead to a gas deficit on the Romanian market," says Achim Saul, chairman of the Board of Directors of E.ON Gaz Romania.

Sursa: www.zf.ro/articol_168001

[TonyHub]

Rompetrol: Dyneff could reach 6bn-dollar turnover in 3-5 years

Autor: Roxana Petrescu Data: 09-04-2008
Ziarul Financiar

Rompetrol, the petroleum group run by businessman Dinu Patriciu, could double turnover on the French market through Dyneff, France's largest independent petroleum operator, which the company acquired at the beginning of 2006.

"I think Dyneff has the potential to double its turnover on medium term (3-5 years), compared with the around 3 billion dollars (1.8 billion euros) seen last year. The French market is undergoing major changes, which could lead to a reduction in the market share held by super and hypermarkets on the fuel distribution segment. Since most such companies are considering giving up this segment, which does not bring in any additional profit, this could provide a growth opportunity for us," says Andre Naniche, COO (Chief Operating Officer) of the Rompetrol Group.

According to the most recent statements from Rompetrol representatives, 35% of the French fuel retail market is in the hands of hypermarkets. Their policy is to secure as many customers as possible, by pushing profit margins derived from fuel retail close to 0%. This strategy also affects other petroleum companies present on the market, given that they can no longer sacrifice their profit margins in order to have competitive prices that can match those of fuels sold in hypermarket-based petrol stations. If the hypermarkets exit this segment, which is unprofitable for them, a huge market will be created for petroleum companies that operate in France, with Rompetrol being one of them.

This year, Rompetrol's business on the French market will amount to around 3.7 billion dollars, while, at a group level, Rompetrol forecasts turnover worth up to 12 billion dollars, significantly higher than the 7 billion dollars estimated for the end of 2007. On medium term, estimates made by representatives of the group point to turnover worth 30-40 billion dollars, with acquisitions in Western Europe to act as the company's growth driver.


Sursa: www.zf.ro/articol_168000

[TonyHub]

Omniasig doubles income to 12m euros

Autor: Angela Placinta Data: 09-04-2008
Ziarul Financiar

Omniasig, ranked second on the domestic insurance market, last year generated gross income worth 12m euros (40m RON), double the level derived in 2006.

Therefore, the insurer is among the few insurers that managed to derive significant profit on a market where most players had to cope with losses, or generated low gains due to the high level of claims on the segment of car insurance.

"We've focused on non-car insurance to offset the losses generated by car insurance, and we had a very solid result from financial investments because of some profitable placements," Constantin Toma, Omniasig chairman, told ZF.

Allianz-Tiriac, leader of the market, last year posted an operating income worth 11m euros, flat from 2006 and 2005, while BCR Asigurari, which ranked fifth on the market, reported net income worth 2m euros, half the figure of the previous year. General insurance policies are not highly profitable because of the high claims settled for car policies, which account for half of turnover in the case of most insurers.

"It's very clear that the market of general insurance is dominated by a fierce battle to gain solid positions, which has forced several players to take on the risk of losses," added Toma.

Omniasig reached turnover worth 265m euros (884m RON) in 2007, up 74% in euros from the previous year. The company posted fast growth on the segment of comprehensive car insurance - 132% in euros, from 52.8m euros in 2006 to 122.6m euros last year. From auto liability insurance (RCA), the company registered gross underwritten premiums worth 71.3m euros, after the weight of comprehensive and auto liability insurance in Omniasig's portfolio reached around 73%.

Omniasig has budgeted a 30% turnover increase this year, and forecasts gross underwritten premiums to go beyond the 300m-euro mark. The company's chairman estimates turnover to reach 1.15bn RON (around 324m euros) by yearend, while profit will reach at least the 2007 level (12m euros) in gross terms.

"We're working to reach a balance in our portfolio, considering the car segment reached a 'delicate' threshold of 75%, and we don't want to go beyond this level. This year, our efforts will focus on a review of the auto portfolio and when results are negative ones, we'll have to renegotiate with customers. I cannot afford the luxury of losing market share, but I want to become more selective," states Toma.


Sursa: www.zf.ro/articol_167999

[TonyHub]

Caro Hotels targets 6.8m-euro turnover

Autor: Roxana Grigorean Data: 09-04-2008
Ziarul Financiar

Caro hotel complex, which incorporates 160 two, three and four-star rooms, developed on the site of a former glucose plant, has budgeted turnover worth 6.8m euros for 2008, up around 35% year-on-year.

"Last year, we generated turnover worth 5m euros, while this year's increase will come when the new 4-star wing, which includes 55 rooms, begins taking reservations," said Octavian Lazar, manager of the hotel complex, which is divided into three categories, the four-star Caro Golf, the three-star Caro Parc an the two-star Caro Horoscop. Caro Golf now has 98 rooms and will reach a capacity of over 150 rooms in the wake of an investment worth above 2m euros.

An investment in a spa and pool will start this year after rooms were reclassified as a marketing strategy, while an investment worth 4.5m euros in an events hall will also be carried out.

As in the case of most other Bucharest hotels, most revenues are secured from business traffic.

"At present, half of our guests are Romanian business people, while the other half are foreigners; a proportion that differs from several years ago, when 70% were foreigners (...)," said Lazar, who added the hotel's occupancy rate stood at around 62% last year.

Investments started by the majority shareholder, Ion Lazar, who is also the owner of Adevarul publishing house, will be carried out over a time period of at least six years, aimed both at an office complex, and other possible hotels.

"(...) Offices are most likely to be finalised in 2011," said Octavian Lazar, who also specified that no other foreign funds would be sought for the Caro Hotel business, while for other projects some partnerships would be sealed.

According to him, the majority shareholder in Caro complex is the Lazar family, with over 60% in it, together with a French partner with around 30%, while the rest belongs to other minority shareholders.

In the case of Caro complex, the goal is to maintain the brand and as little crowded a space as possible, however, the owners do not rule out the possibility of another larger hotel, which should be affiliated to an international chain, developed on another portion of the 5-hectare plot the company owns.

"People are still attracted by brands. Each brand that enters the market will shake independent hotels a little. (...) We may build a bigger hotel under another brand, but for now Caro stays as it is," said Lazar, who also said that after the "standardisation of the Caro concept, other cities may also be added to the list of destinations (...) Should we manage to standardise the product, it would be interesting to see ourselves develop in other cities in the country," said Lazar.

Caro complex was established in 1994, when the northern area of Bucharest was still undeveloped.


Sursa: www.zf.ro/articol_167998

[TonyHub]

WB: Romanian banks charge relatively high fees for basic services

Autor: Liviu Chiru Data: 09-04-2008
Ziarul Financiar

CEE banks prefer to rely on fees levied for account management and cash operations, while tariff gaps between players are quite wide.

Romanian banks are relying on fees for account management and cash operations, which generate together 67% of overall revenues derived from fees for basic products and services, shows a World Bank report devised together with Capgemini, ING and The European Management and Financial Marketing Association (EFMA).

Fees charged for account management alone generate 40% of overall sums collected in under the form of fees, the highest weight after that of Slovakia among EU members that have not switched to the euro, yet.

As compared with CEE banks, in the United Kingdom account management fees bring just 5% of revenues, in Norway 2%, in Denmark 10%, reads the World Retail Banking Report 2008.

The report takes into consideration the data collected from nine banks with domestic operations: BCR, BRD-SocGen, Raiffeisen Bank, UniCredit Tiriac Bank, Banca Transilvania, Bancpost, Alpha Bank, CEC and ING Bank. According to the report, the nine banks concentrate 79% of banking system deposits.

As a matter of fact, most bankers are speaking of the need to boost revenues from operations not involving taking on risks, and network and operation expansion should also allow for fee revenues related to such products to go up.

Cash operation fees bring domestic banks 27% of fee revenues, compared with 21% in Poland and 32% in the Czech Republic. Again, Denmark and UK stand at the other end, with weights of below 4%. Instead, revenues from fees charged for payments account for 32% in Romanian banks' revenues, compared to 44% in Poland or 75% in Denmark and Norway.

The report also notes a high gap between tariffs levied by the banks included in the survey. Thus, price differences go as high as 46% for Romanian banks, close to the level of Slovakia.

"The high differences between levied tariffs are usually associated with markets undergoing a rapid transition (...)," underlines the report.

Globally, banks have tried to secure customers' loyalty by slashing prices of products influencing the purchasing decision, the report also shows. On some markets, banks have also resorted to the sale of bundled products to reach these goals.

In the range of products that can influence the purchasing decision the report mentions current accounts and debit or credit cards. The report also notes the existence of another category of products and services that, through the price policy, can influence customers' behaviour.

In this case, too, domestic banks have embraced the international practice, trying to encourage, through their fee policy, the use of alternative channels for basic operations, thus trying to avoid branch congestion and allow employees to focus on the sale of high added-value products.


Sursa: www.zf.ro/articol_167997

[TonyHub]

RomTelecom bets on integrated IT&C services for business customers

Autor: Adrian Seceleanu Data: 09-04-2008
Ziarul Financiar

Romtelecom, the largest fixed telephony operator on the domestic market, intends to expand its range of IT&C services provided to business customers, therefore seizing the opportunity created by the large number of SMEs on the market that cannot afford to hire an IT manager.

"Our goal is no longer to sell just voice and Internet access lines, but become a full provider of IT&C services for companies, to create new streams of revenue, and expand our customer base," said George Makowski, commercial manager of the business segment of Romtelecom.

He added that the operator had been forced to take these steps towards the system integrator status because of fierce competition on the market. "Unless we make such efforts, we will be out of the market in five years at the most. We are fighting to boost revenues, not to maintain them as they are."

Romtelecom officials say they rely especially on small and medium-sized companies that do not have enough resources to hire an IT manager, considering how much IT expert salaries have increased over the last few years. At the same time, competition for recruiting IT managers is still high, after giants like HP, IBM, Oracle or Genpact have opened service and support centres in Romania, where they hired thousands of people.

Romtelecom now offers such services, whereby SMEs can buy computers, Internet access and IT services from the operator for prices starting from 29.5 euros per month. Customer support is available over the phone for any problems in the operation of the voice line, the Internet service, the PC, or the pre-installed software.

"We are also looking to acquire a local player to provide us with a series of competencies in integrated services," Makowski added.

Romtelecom had set aside 190 million euros for investments this year, slightly down from last year when the budget amounted to 200 million euros, stated Makowski.

Romtelecom's official explained that the exact amount of investments would be set depending on the projects carried out by the company. "We will invest 170 to 190 million euros by the end of the year, with the upper limit of the budget depending on the progress of some projects."

The investments estimated by Romtelecom are approximately equal to those announced by the top two players on the local telecom market, Orange and Vodafone, 200 million euros.

Romtelecom set out to attain significant growth on the segment of data services for corporate clients, and its goal is to be the number one on the market, explained George Makowski.

He added that Romtelecom was the second leading provider of data services for companies, behind Vodafone Romania.


Sursa: www.zf.ro/articol_167996

[nebunul]

Tony ... I'll speak with the admins to transfer you some of my useless posts :)... but please, post all news in one post :cheers: ... cheers for your efforts!

[Cosmin]

Also filtering the news so that you only post relevant news to the people on this forum would be nice.:)

[Le Clerk]

Yeah, I also support this. In fact, I wanted to mention that we should only post news about new investments or economic projects, and not news about companies' financial reports or irrelevant investments such as in residential, commercial or office buildings (which can go to the appropiate section). :cheers:

[TonyHub]

Yeah, I also support this. In fact, I wanted to mention that we should only post news about new investments or economic projects, and not news about companies' financial reports or irrelevant investments such as in residential, commercial or office buildings (which can go to the appropiate section). :cheers:

This forum is for Romanian news (Economy, Industry, Investments and Business).
I have posted these news for the foreigners, not for you.
Do you understand me, my dear?

[Le Clerk]

^^ I doubt that people read such many posts with little relevance to investments. This is not a financial newspaper page to report all kind of financial news. People here are interested generally in investments as in FDI, and not in some other financial news. I am just telling you this as an advice, you can do whatever you want. Check other similar threads and see whether such news of the type you post are also posted on those other threads.

And you do not need to become sarcastic as I was not offensive to you. :ohno:

[nebunul]

macrosu?!?!?!?!:nuts: ... how are you my dear?! :lol:

[TonyHub]

Do you want Romanian news?
You must visit:

http://www.romanianews.net

[Cosmin]

^^100% macrosu.:lol:

[nebunul]

mast be ... :lol:

[Le Clerk]

Business Standard
10/04/2008



EC approves four environmental projects to be financed through the Sectoral Operational Program



The European Commission (EC) approved the first four environmental projects for Giurgiu, Salaj, Cluj and Calarasi Counties, worth €450 million, through the Sectoral Operational Program for the Environment, with funds to be used for the expansion of water and sewage networks, according to Minister of the Environment Attila Korodi.

The Minister added that these are the first major projects, in excess of €25 million, approved in the 27 European Union (EU) member states, and that these investments will benefit 820,000 inhabitants of the above-mentioned counties.

The largest project approved by the EC is that in the northern Cluj-Salaj area, worth €197 mln, which includes the Cluj-Napoca, Dej, Gherla, Huedin, Zalau, Simleul Silvaniei, Jibou and Cehu Silvaniei localities. Funds will be used to build the third purification station and 100 kilometers of sewage lines, with work to begin in the second half of the year, to be completed in 2013.

The second project approved by the EC, worth €80 mln, will be implemented in the northern Turda-Campia Turzii region, for the rehabilitation of a purification center and 80 km of sewage lines. In Calarasi County the construction of four purification centers and the rehabilitation of one, and the laying of 60 km of sewage lines will cost €100 mln. According to Korodi, at the conclusion of this work, some 120,000 inhabitants will benefit from running water and sewage systems. (NewsIn)




^^These are excellent investment news as Romania finally starts to get some important EU funding. :cheers:

[joce23]

so was there any outcome from the Putin-Basescu meeting apart from an invitation for Basescu to visit Russia?

In Russia Basescu will seek direct contract with Gazprom
... more details at: http://www.nineoclock.ro/index.php?page=detalii&categorie=politics&id=20080410-509243

[tomis3]

Dacia workers end strike.

Greva de la Dacia a luat sfarsit
Autor: Ziarul Financiar | Data: 11 Apr 2008


Un acord pentru reluarea lucrului la uzinele Dacia a fost semnat in aceasta dimineata cu Sindicatul Autoturisme Dacia, conform unui comunicat al Automobile Dacia. Acest acord pune capat grevei.

Muncitorii calificati beneficiaza astfel de o crestere generala de 300 lei brut de la 1 ianuarie 2008 si de 60 lei brut de la 1 septembrie 2008.

Personalul TESA beneficiaza de o crestere de 15% constituita dintr-o crestere generala si dintr-o crestere individuala.

Atat muncitorii cat si personalul TESA beneficiaza de o prima de rezultat pe anul 2007 egala cu un salariu individual brut la data acordarii primei, in valoare de minimum 900 lei.

Partile

se angajeaza sa sustina in totalitate obiectivele Dacia prevazute in bugetul societatii pe anul 2008, obiective care decurg din planul Renault Contract 2009.

Lucrul a fost reluat la uzina vineri 11 aprilie la ora 13.00.

..

[Cosmin]

^^What does it say?:? Sorry, I don't speak Romanian... I'm from Bergen, Norway.:(

Hope you got my point...;)

[Le Clerk]

Nokia plans to increase its investment so far at the mobile phones plant in Jucu by more than 60 million EUR which, according to EU state aid regulations, may lead to Nokia losing the right to the already granted state aid. Nokia received state aid consisting of a waiver of the tax on land and buildings.

Ziarul Financiar
11/04/2008


Investitiile Nokia de la Jucu ar putea duce la pierderea facilitatilor fiscale
Cel mai mare producator de telefoane mobile din lume, Nokia, ar putea pierde facilitatile fiscale din Parcul Industrial Tetarom III, in conditiile in care oficialii companiei iau in calcul posibilitatea majorarii investitiei la fabrica din comuna Jucu, judetul Cluj, informeaza Mediafax.
Directorul Tetarom, Viorel Gavrea, a explicat ca la o analiza atenta reiese ca Nokia va face o investitie in cheltuieli eligibile mai mare de 50 de milioane de euro.
"In acest caz, regulile parcului industrial nu se mai aplica, iar Nokia si toti cei implicati se supun regulilor Comisiei Europene. Adica trebuie sa incepem discutii cu Comisia Europeana care va spune daca Nokia va avea dreptul sa beneficieze de facilitati oferite de titlul de parc industrial. Investitia va fi mult mai mare decat s-a anuntat oficial prin contract, 60 de milioane de euro, si atunci trebuie sa mergem la Comisia Europeana", a afirmat Gavrea.
Potrivit acestuia, limita superioara impusa de regulile Comisiei Europene pentru ca un investitor sa beneficieze de facilitati era de 50 de milioane de euro cheltuieli eligibile.
"Nu pot spune cat va fi in cazul Nokia la Jucu, dar va depasi, categoric, 50 de milioane cheltuieli eligibile si atunci intra alte reguli. Daca Comisia Europeana decide, Nokia nu va mai beneficia de facilitatile parcului industrial si va trebuie sa plateasca toate taxele. Ar putea pierde cele doua scutiri oferite, impozitul pe teren si cladiri, care sunt destul de mari", a spus directorul Tetarom. Mai multe detalii pe www.mediafax.ro.
Sursa: www.zf.ro/articol_168472

[Le Clerk]

Since OTE's management will be taken over by Deutsche Telekom, I expect that Romtelecom's management to be taken over by Deutsche Telekom as well. :cheers:

HotNews.ro
10/04/2008


Forbes: Deutsche Telekom and Greece reach agreement on OTE

The Greek state and Deutsche Telekom reached an agreement on the main aspects to control OTE, internal sources told Thomson Financial News, quoted by Forbes. Both parties will hold a 25% participation plus one share for each at OTE. Deutsche will manage daily business affairs while the state will have sufficient representatives in the managing team. Moreover, Deutsche will have the right to hold some 20% shares of a Greek company.

According to the agreement, Deutsche will take over another 3% from the 28% participation currently held in OTE by the Greek state. Moreover, another 2% will be purchased from the free market so that Deutsche will come to hold 25% plus a share of OTE.

Deutsche Telekom announced on March 17 that it will come an agreement to purchase 20% of OTE for 2.5 billion euro from Marfin Investment Group.

In Romania, Deutsche would take some control wired telephony operator Romtelecom, as well as in mobile operator Cosmote and retailer Germanos, where OTE is a majority shareholder.

[Le Clerk]

HotNews.ro
10/04/2008



Another Nokia like business raises indignation in Germany

Leverkusen-based TMD Friction set up TMD Friction Romania and bought 67,500 acres near the city of Caransebes, Western Romania where it plans to relocate. The factory will cover 14,400 meters and the total investment will amount to 10 million euro. Another German investment to be re-oriented towards Romania is that of an important toy trains producer company in Germany, Fleischmann which recently announced its relocation plans in the Balkans.

The TMD Friction group is one of the most important global producers of car breaks systems. TMD Friction is expected to create some 1,000 jobs. Company representatives forecasts that in 2009, some 19 million break system components will be produced in Romania to be delivered to the biggest clients in Eastern Europe.

If TMD Friction's relocation did not produce any effects on the German market, things are by far more controversial with Fleischmann which holds factories in Nurnberg and Dinkelsbuhl. However, production facilities in the two German cities do not have much of a future. A German daily reads that some 115 people of a total of 340 will have to leave if Fleischmann representatives decide to relocate, as announced.

[olsib]

^^What does it say?:? Sorry, I don't speak Romanian... I'm from Bergen, Norway.:(

Hope you got my point...;)

:)

[nebunul]

Romania's growth is double-edged sword
http://www.my-esm.com/showArticle.jhtml?articleID=207200233

BERLIN — Romania tells two stories. On the one hand, foreign investors consider the country the most attractive destination for investment in Central and Eastern Europe. According to a survey by the Center for European Economic Research (ZEW), 37 percent of foreign investors polled consider Romania the most attractive site, ahead of Poland at 34 percent and the Czech Republic and Hungary at 6 percent each.

Nokia even uprooted its mobile phone plant in Germany and sent it to the Romanian city of Cluj Napoca.

FDI is expected to reach $7B this year, about the same as last year, according to ARIS, the government investment promotion unit.

The figure represents nearly 20 percent of total FDI in the 10 new EU members, which totaled $62B (39.3 billion Euros) last year.

On the other hand, wages haven't kept pace with the country's fast economic growth. Low wages " in many sectors the lowest in the EU " effectively threaten the country's competitive advantage. The average monthly net wage increased to $527 (333 Euros) today from $196 (124 Euros) in 2002.

Workers at Renault's Romania plant have gone on strike for a 50 percent wage increase, which, if approved, would bring salaries to one-sixth the level of a French Renault worker, according to a report by Bloomberg. If workers win the increase, officials fear labor unrest will ripple across the country.

The low wages have also caused a worker migration to other countries in search of higher paying jobs, resulting in a labor shortage in some sectors.

Romania's GDP growth slowed to 6 percent last year from 7.7% in 2006, according to the World Bank. Medium-term growth could remain robust if the country manages to tame inflation, increase productivity and reform labor markets, the Bank said.

nonsense. They must have meant wages have been increasing too fast ...

[nebunul]

Romania economy looks stronger, risks remain-cbank

BUCHAREST, April 9 (Reuters) - Romania's economy has shown encouraging signs, such as faster export growth and a more sustainable currency exchange rate, but threats to long-term stability remain, central bank head Mugur Isarescu said.
Speaking at a business conference on Wednesday, Isarescu said the leu exchange rate had returned to levels that were not pushing inflation and helped narrow Romania's vast current account deficit.
Isarescu also welcomed signs that savings rates were increasing and export growth had surpassed that of imports.
But he said more evidence was needed that improvements in trade were "solid" and warned about risks from fiscal policy and potential second-round effects of wage increases on inflation.
"Only three months of figures is not enough. We have to wait one or two quarters to see if what we have is a solid trend (in export growth pick-up)," Isarescu said.
Rampant domestic consumption, mounting wage pressures, a weakening leu and a global spike in food prices have reignited inflation in Romania and prompted the central bank to order four consecutive interest rate rises in recent months.
The current account has also become a problem in recent years but 2008 data so far has shown some pick-up in export growth compared to imports.
Isarescu said he was "prudently optimistic" the recent interest rate increases could help bring inflation -- which was 8 percent in February -- closer to the bank's target, somewhere around 5-6 percent.
"We didn't do enough but we did a lot to make a calibration between monetary policy ... and inflation," Isarescu said.

RATE OUTLOOK
Isarescu also said interest rates may remain in single digits, prompting talk that room for further policy tightening was limited.
Asked whether there was a chance for the benchmark rate, now at 9.5 percent, not to reach double digits, Isarescu told Reuters: "Yes, there is."
This, coupled with Isarescu's comments on currency rates, sent a dovish signal to the market and depressed the leu currency, analysts said.
"Isarescu's comments lower the expectations of foreign players of further aggressive rate hikes and put additional depreciation pressures on the leu," said Ciprian Dascalu, an analyst at Millennium Bank in Bucharest.
The leu pulled back from a five-week high hit against the euro on Tuesday, falling to 3.6770 per euro by 1045 GMT.
Isarescu also told reporters he expected Romanian prices to grow by half a percent in March, bringing the headline inflation figure to a peak this year.
He also reiterated calls on the government to improve fiscal policy and continue reforms, saying any delays could hurt Romania's goal to adopt the euro in 2014.
"Any time lag in the implementation of economic reforms or the unfolding of nominal and real convergence will cause a delay in the euro adoption calendar," he said.

[tomis3]

I like Isarescu...He has done a great job as national bank governor and is by far the best public official we have.

[Le Clerk]

Romania's growth is double-edged sword
http://www.my-esm.com/showArticle.jhtml?articleID=207200233

BERLIN — Romania tells two stories. On the one hand, foreign investors consider the country the most attractive destination for investment in Central and Eastern Europe. According to a survey by the Center for European Economic Research (ZEW), 37 percent of foreign investors polled consider Romania the most attractive site, ahead of Poland at 34 percent and the Czech Republic and Hungary at 6 percent each.

Nokia even uprooted its mobile phone plant in Germany and sent it to the Romanian city of Cluj Napoca.

FDI is expected to reach $7B this year, about the same as last year, according to ARIS, the government investment promotion unit.

The figure represents nearly 20 percent of total FDI in the 10 new EU members, which totaled $62B (39.3 billion Euros) last year.

On the other hand, wages haven't kept pace with the country's fast economic growth. Low wages " in many sectors the lowest in the EU " effectively threaten the country's competitive advantage. The average monthly net wage increased to $527 (333 Euros) today from $196 (124 Euros) in 2002.

Workers at Renault's Romania plant have gone on strike for a 50 percent wage increase, which, if approved, would bring salaries to one-sixth the level of a French Renault worker, according to a report by Bloomberg. If workers win the increase, officials fear labor unrest will ripple across the country.

The low wages have also caused a worker migration to other countries in search of higher paying jobs, resulting in a labor shortage in some sectors.

Romania's GDP growth slowed to 6 percent last year from 7.7% in 2006, according to the World Bank. Medium-term growth could remain robust if the country manages to tame inflation, increase productivity and reform labor markets, the Bank said.

nonsense. They must have meant wages have been increasing too fast ...

Yeah, the article is lame. For example:

1. FDI last year at 7 billion USD??? Make it EUR.
2. If the increased by 50% wages at the Dacia-Renault plant in Romania would bring the salaries of the Romanian workers at 1/7 of a French worker, how can that eat up into Romania's automotive sector (wages) competitivity??

But the article is right about the ripple effect of the wages increase at Dacia. I am going to watch with interest in the coming period what is going to happen at the Ford plant and at the car component factories accross the country, and not only. Unions at Arcelor Mittal Galati have announced they are going on strike the next day the unions at Dacia got the 120 EUR wage increase. Expect more such strikes in the coming period. But, I think this is good. Our unions have started to learn how to deal with capitalism and turn the wild capitalism foreign companies expected to implement into a poor country like Romania into a European type of capitalism, whereby companies share their profits with their employees. Well, we are not yet at the level of Germany or France, but should converge into that system of social capitalism while Romania integrates more and more into the EU. :cheers:

[Le Clerk]

Last year almost 1 million noteboks and desktops were sold in Romania. The main computer producers in Romania are: CES, Flamingo International, ProCa, Romsoft, K Tech Electronics.

Business Standard
11/04/2008



Altex va asambla 100.000 de PC-uri in 2008

11 aprilie 2008
de Mihaela Filip


Producatorul de computere Complet Electro Serv (CES), companie membra a grupului Altex, estimeaza o cifra de afaceri de 27 milioane de euro in 2008 si 100.000 de calculatoare personale vandute, cu 30% mai mult decat in 2007.

Compania a raportat anul trecut o cifra de afaceri de 21,6 milioane de euro si 77.500 de PC-uri vandute.

“Estimam ca 10% din vanzarile noastre pe 2008 vor fi generate de programele educationale”, a declarat Gabriel Jitaru, director general CES.

Potrivit acestuia, compania a livrat anul trecut 1.500 de calculatoare personale, prin programe educationale, in doar o luna si jumatate, cat timp a durat programul “Back to school”.

CES a inregistrat in 2007, cu brandurile Davio si Myria, o cota de piata de circa 8,2% si de 7,4% in trimestrul patru al anului trecut.

Davio detine o pondere de aproximativ 70% din vanzari.

Potrivit reprezentantilor companiei, evolutia CES din 2007 a fost sustinuta intr-o mare masura de cresterea productivitatii muncii, investitiile din anii anteriori incepand sa se materializeze in rezultate pozitive la nivelul intregii afaceri.

Piata locala a calculatoarelor personale, incluzand calculatoarele de birou (desktopuri), portabile (notebookuri) si servere, a atins anul trecut 944.000 de unitati vandute, cu 48% mai mult decat in 2006, volum care corespunde unei valori de peste 826 milioane de dolari.

Principalii producatori locali de calculatoare sunt CES, Flamingo International, ProCa, Romsoft, K Tech Electronics.

[tomis3]

Yeah, the article is lame. For example:

1. FDI last year at 7 billion USD??? Make it EUR.
2. If the increased by 50% wages at the Dacia-Renault plant in Romania would bring the salaries of the Romanian workers at 1/7 of a French worker, how can that eat up into Romania's automotive sector (wages) competitivity??



Easy...if there is no increase in productivity, your competitiveness diminishes. I don't think our unions know much about this. Romanian unions, 99% of the time, strike to demand higher wages....they never strike to demand more and better training or modern equipment. First, you increase your productivity and then you ask for higher wages...Most of the time, unions skip the first step and go directly to the second.

[Le Clerk]

Easy...if there is no increase in productivity, your competitiveness diminishes. I don't think our unions know much about this. Romanian unions, 99% of the time, strike to demand higher wages....they never strike to demand more and better training or modern equipment. First, you increase your productivity and then you ask for higher wages...Most of the time, unions skip the first step and go directly to the second.

In general, I would agree with you, but I know for a fact (from statistical studies reported in the media) that labour productivity in the private sector increased more than the average growth of wages in the past year. This is particularly so in the automotive industry which has experienced a boom lately. In addition, the guys from the Dacia plant union which I have listened to at several TV interviews seemed to me well informed and knowledgeble of basic economic issues which can affect a company.

Basically, he was saying that it is not normal that wages should stay at a flat level or increase by a mere 7% (as the company proposed), while labour productivity increased by 50% in the past 1 and a half year at Dacia and the plant registered the best profits in the Renault group. I am a right wing guy myself, both in politics and economics, but I agree that labour must not be a simple tool to profits, but an essential part of any business activity, which, therefore, must be taken care of the same way the business is taken care of. Therefore, once a company has high profits, the company must return a part of those profits to the employees. Otherwise, workers will ceise to be loyal to the company and thus labour productivity decreases. That's why I agree with this particular strike and its outcome, which, in my view is a different kind of strike form the strikes that we see regularly in the public sector, in particular.

[Le Clerk]

Business Standard
14/04/2008



Dacia strike changes the strategy of multinationals

The worst Romanian corporate strike in the past few years ended on Friday, after 19 days, and losses estimated to exceed €100 million. The message sent by striking Dacia employees could have long-term effects in terms of other foreign investors, according to analysts contacted by Business Standard.

“The Dacia strike will lead foreign investors to realize that the Romanian work force is no longer inexpensive or without demands,” said the Executive Director for the Group of Applied Economics (GEA), Liviu Voinea for Business Standard. “Multinationals came here in search of lower salaries. Now they can move away and recalculate their strategy,” according to a statement for Business Standard by Maria Grapini, President of the Federation of Light Industry Employers (FEPAIUS). “Companies should expect such strikes from here on out and consider the risk of such losses, because the employees have an increasingly powerful position on the labor market. They know that many other companies are just waiting to hire them, so they can afford to stand firm, and not give in,” said a human resource consultant, George Butunoiu, for Business Standard.

In the past three years, several multinationals who came to Romania due to the inexpensive work force, have suffered major losses as a result of general strikes by their employees, who demanded significant increases in salaries, including ArcelorMittal Galati, InBev Romania, Michelin Zalau, Santierul Naval Daewoo Mangalia and Koyo Romania. Their losses during the strikes exceeded €5 mln.

[emre_kellerman]

romania is getting stronger. especially after the eu entrance!

[Le Clerk]

Business Standard
14/04/2008



Economic analysts are predicting a strengthening of the national currency to the euro in the coming week, due to a rise in interest rates, making it possible for the leu to drop below the RON 3.60/€1 threshold, following a new low for the past two months on Friday, of RON 3.61.

The National Bank of Romania (BNR) announced a Friday reference rate of RON 3.6130/€1, down RON 0.0574 from Thursday’s rate. This is the highest decline in a single day in more than two months. The appreciation of the leu is due to a favorable regional context and sales by foreigners of foreign currency. At the end of the foreign currency session, the national currency depreciated back to the RON 3.63/€1 level, due to bad news from the US which reflected that consumer trust dropped in April to its lowest in the past 26 years, and that General Electric posted 2007 results below expectations, reducing its targets for this year, which fueled declines on the stock exchange.

Raiffeisen analysts believe that the level of interbank interest rates will be high in the 20-25 April period, similar to last year, as several banks are registering acute deficits of liquidity.

[tomis3]

^^

I think they want to say that the Euro will drop.

[Le Clerk]

The investment is the biggest one in Cluj so far and is worth 140 million EUR. The plant will employ 5.000 people.

Business Standard
14/04/2008




EMERSON - Investiţie de 140 milioane de euro la Cluj
Marti, 15 Aprilie 2008


O nouă mare companie internaţională începe activitatea în România. După inaugurarea fabricii Nokia, care a avut loc la începutul lunii februarie, a venit rândul concernului american Emerson care va deschide astăzi o fabrică la Cluj.

Investitorul american a cheltuit până acum 140 de milioane de euro pentru demararea investiţiei. În perspectivă, Emerson intenţionează să inaugureze nu mai puţin de cinci unităţi de producţie la Cluj. Potrivit reprezentanţilor Consiliului Judeţean, aceasta este cea mai mare investiţie directă care s-a realizat vreodata la Cluj.

Astfel, vor fi asigurate locuri de muncă pentru 5.000 de oameni. La festivitatea de inaugurare de astăzi va participa si ambasadorul SUA, Nicholas Taubman.

Emerson este unul dintre cele mai mari grupuri de firme producătoare din domeniul industriei construcţiilor, electronice, automatizărilor industriale, telecomunicaţiilor şi aparatelor de măsură.

[budapester]

Does anybody have any information about the future Bucharest-Craiova motorway? Links, pictures, news etc...

[Le Clerk]

The Diplomat
April 2008

April
2008


Mobile operators livid over entry terms for new competitor

A new mobile operator should appear by the end of 2008, but existing operators are criticising the price for the license, which is up to 50 times less than costs in the past Romania is destined to have a new mobile phone operator by the end of this summer, but the terms of awarding the new license have been accused of being anti-competitive.

“We want another mobile operator who can help Romania increase the usage of mobile telecom services especially in the countryside, by providing services at low prices,” says Minister of IT&C Karoly Borbely.

Up for sale is the 410-415, 420-425 MHz frequency, for mobile voice and data, which is suitable for CDMA technology.

But the Government is planning to sell this license for only one million Euro. This compares to the auctions for GSM, which Dialog (later bought by Orange) and Connex (later bought by Vodafone) purchased in 1996 at 50 million USD and the 44.4 million Euro price tags for the two most recent 3G licenses sold to Zapp and RCS&RDS. Existing operators Vodafone, Orange and Zapp-owners Telemobil all believe the prices should be aligned to previous licenses.

“Why there is such a huge discrepancy between the cost of the 3G license and the cost of this license doesn’t seem to make a lot of sense,” says CEO of Orange Romania Richard Moat.

The authorities argue that this license is not as substantial as the spectrum for 3G, but existing operators are shocked at the massive reduction.
“When a regulator fixes a price significantly below what was sold before and the restricts who can bid for it, this is completely unfair,” says CEO of Zapp Romania Chris Bataillard. “Either a regulator gives frequencies away or auctions them at a similar rate. They cannot be different from one year to another.”

The Diplomat asked the European Commissioner for Information Society and Media, Viviane Reding, if she believed the auction of the license could be accused of being anti-competitive. “It is for a member state and not for the European Commission to decide the way the frequencies are going to be handled,” she said. “Prices should be brought down so that more competition can come into the market.”

The Government is echoing this argument by encouraging the appearance on the Romanian market of a new competitor, but existing operators argue this comes at their expense. “Some of the announcements by the regulator are slightly anachronistic,” says Moat. “They talk as if there is no competition on the market, but Cosmote is over 15 per cent of the market, having acquired that in a short period of time. There are three large players and two more with the potential to grow.”

Meanwhile Zapp argues that one massive indicator of Romania’s competitiveness is that the country has the lowest prices for data and voice in the EU.

But the regulators believe that the telecom market is reaching saturation point, which means it will be tough for a new player. “Another operator would assume a very high financial risk, having to come with qualitative services and a competitive price if it would want to win a segment in the Romanian market,” the Minister says.

The Ministry is also considering whether the winner should cover a certain percentage of disadvantaged areas where there is difficult access to communication services. This may not be a business proposal that would attract many dynamic operators.

“For today one million Euro for a license is still attractive,” says Dan Georgescu, president of the National Regulatory Authority for Communications and Information Technology (ANRCTI). “If we ask for more, nobody will come.”
The authorities have interest from foreign and local companies, while no current mobile phone operator on the Romanian market is allowed to bid for this spectrum – even if they take on the potential loss-making conditions of servicing remote rural areas. “All operators should have equal chances of participation,” says CEO of Vodafone Romania Liliana Solomon.

But the license could be attractive for fixed line operators who may want to go mobile, such as UPC and Romtelecom. Despite having the same shareholder as mobile operator Cosmote in OTE, Romtelecom could bid for this license. Romtelecom and Cosmote are two discrete companies, even if their plans for 2008 include further partnership. “If the authorities want to make the rules like that, then I’m sure I could bid for it,” says Zapp’s Bataillard. “I’m sure I have a company in the closet somewhere.”

If Romtelecom wins the license, one scenario could see the company merge in the future with Cosmote, which would then have an extra dosage of spectrum purchased at a knock-down price.

“If this happens,” says one telecom expert, “Romtelecom will have outsmarted the Government.”

When approached by The Diplomat, Romtelecom would not confirm nor deny any interest in this license.

Fourth 3G player must come to market

This year, telecom operator RCS/RDS has quietly launched its third generation (3G) telephone service, while Telemobil’s Zapp brand must launch operations by the mid 2008 or face a fine from the national authorities.
Zapp is under compulsion to use the 2100 MHz frequency which it bought at the end of 2006 for 22.2 million Euro.
“The service must be in place for the consumers,” says Dan Georgescu. “There needs to be the infrastructure in place and a network operational by 30 June.”
If this does not happen, there will be a warning followed by a fine which could be up to 35 million Euro. If the 3G still remains non-operational, the regulators can take away the license.
Zapp argues that the licence specifies that the company must only have a network in the 2100 MHz frequency deployed by 30 June. “We are in the process of roll-out,” says new CEO of Zapp Chris Bataillard. “We will have the network up and running by June, with the commercial launch at some point in 2008 between June and November.”
The operator argues that its available technology now has 3G capabilities, but the new band will allow more capacity to download data. “There is a limit to how much you can talk all day,” says Batalliard. “There is no limit to how much you can download. If we overlay the cities we will increase our capacity by ten to 15 times.”

Online lags behind mobile

Romanians love talking, but have been more reluctant to go online. The country is almost on a parallel with the west in the terms of mobile communications, but behind in terms of Internet use.
The number of customers in 2007 of mobile phone operators reached 106 per cent of the population, according to the regulators. In the west, penetration can reach up to 150 per cent because this includes customers who have two or more operators. Actual penetration in Romania – the percentage of people with mobile phones – is closer to between 70 and 80 per cent.
“The market is starting to level out almost inevitably and the challenge for operators is to find what continues to drive organic growth,” says Orange’s Richard Moat. “Human penetration can rise to more than 80 per cent, but that requires probably pushing into lower income groups and finding models for distribution that are going to work for those groups.”
Vodafone considers that the Romanian telecommunications market still has growth potential. “This will be mainly driven by the uptake of mobile Internet and broadband services, as technology becomes more advanced and affordable to a larger customer base,” says Vodafone’s Liliana Solomon.
With the higher use of data and WiMax, the take-up of sim cards is also likely to expand. By the end of 2009 the market could reach saturation, adds Moat.
Romania is not far behind the west in terms of its technological adaptability. The only factor holding the country back is that its average revenue per user is much lower than the west. But as wages rise, this too will harmonise.
“Romanians have a great appetite for new technologies and the country had an accelerated development in the last years,” adds Solomon. “If we keep this development pace in the future, I expect we recover this gap in the next three to five years.”
But only 20 per cent of Romanians have easy access to the Internet, while the EU average is 40 per cent. For Broadband Internet, the EU average is 30 per cent, while in Romania this reaches only ten per cent. To tackle this issue, the Ministry of IT&C will start working this month on the National Strategy for Broadband, which has to be approved by all member states by 2010.


--------------------------------------------------------------------------------

Fight for download space begins
Operators are preparing to battle for two new licenses offering faster and bigger data download services
Telephone operators are now drafting the reasons why they have the best case for picking up a new spectrum suitable for broadband wireless access with a high download capacity, the so-called WiMax frequencies.
The 3.6 to 3.8 spectrum will be available to two operators later this year,
allowing a larger capacity for downloading data through radiowaves.
“WiMax will help diminish the digital disparity between rural and urban in terms of access to communications, which is an EU objective,” says Minister of IT&C Karoly Borbely.
The Government has to authorise the license fee for the auction to begin. The regulators are confident the two Wimax licenses will be available this year.
“This will be a beauty contest,” says president of the National Regulatory Authority for Communications and Information Technology (ANRCTI), Dan Georgescu. The operator showing the best business plan, coverage and speed of bringing the product to market will win. The authorities intend to convince the winners of the auction to invest in the first two to three years in the infrastructure for Broadband electronic communication in the countryside.
Georgescu says the cost for the license will be “as low as possible”. The Government will decide the final figure, which will probably be in the region of six million Euro.
The president of ANRCTI says there is “great interest” in this license. Approached by The Diplomat, Zapp’s owners Telemobil, Orange and fixed market leader Romtelecom all confirmed their interest in the license.
“This serves our goal to bring broadband Internet in every home and office,” says Catalin Dima, chief of legal and corporate affairs officer, Romtelecom.
Meanwhile Vodafone is examining the possibility. “We are currently evaluating the opportunity to participate in the auction for a WiMax license,” says Liliana Solomon, CEO of Vodafone Romania.
Orange has already deployed WiMax in 20 of the largest cities in Romania in its seven MHz of spectrum. “This is somewhat constraining and we would like to get more,” says CEO of Orange Romania Richard Moat. “We would definitely be able to push for a larger share of the market if we had that license.”
The new license offers a complementary spectrum in a similar bandwidth to one in which Vodafone already operates, where it offers integrated communication services to over 6,000 business customers.
Because the two 3.6 to 3.8 frequencies are very high, a mobile operator bidding for the license needs many base stations. Every doubling of a frequency halves the distance it travels at the same power level.
“If an operator already has a network, there is an argument for purchasing the WiMax license,” argues Zapp’s Chris Bataillard, “because the existing base stations can be used and added to. “If there is no network, the interest is not clear. Someone who wants to do WiMax on a standalone basis would have to spend a lot of money.”

Case for bundling phonelines with TV put to question

The combined service of fixed, mobile, broadband and cable TV, known as Quadplay will probably increase in popularity in 2008, but some operators are not convinced about the profitability of the business model.
“Quadplay will become more popular,” says Orange’s Richard Moat. “But there is not an enormous demand. Because there is a segment interested which will expand, we want to participate in the Quadplay space.”
Orange has undertaken trials with UPC and Moat says that when the results on this are ready, his company will have further discussions on whether to expand the cooperation.
But the technical model is under heavy criticism.
“Quadplay offers are not a success in any of the European markets,” says Vodafone Romania CEO Liliana Solomon. “The infrastructure that is needed for delivering TV and mobile services is very different and, therefore, there are little synergies between these services.”
By bundling every form of communication together, one profitable service, such as broadband, may have to subsidise a loss-making aspect, such as a cable TV subscription.
“At some point there is a crossover, where it doesn’t become profitable anymore,” says CEO of Zapp Chris Bataillard. “With the lowest price for satellite TV in Romania at four Euro per month and fixed line in decline, I don’t drink the kool-aid on the combination.”
Vodafone also believes the business model remains unattractive.
“This might change in the future,” says Solomon, “through the technology development: the standardisation of mobile TV products or IPTV [Internet TV] services development.”
There is also a question mark over whether there is any point in having a fixed phone in the combination. “Why would you need a fixed line product if your mobile terminal has exactly the same cost structure?” says Bataillard.

Number exchange set to benefit small players

Romanians will be able to take their existing phone number to another operator from 21 October in a move which insiders believe will help the smaller operators on the mobile and fixed market – namely Cosmote, Zapp, RCS/RDS and the new player due this summer.
“It’s an opportunity for smaller operators to get some new subscribers if they have good offers,” says president of ANRCTI Dan Georgescu. “It will exert as much pressure as possible on the operators to keep their subscribers in the network.”
Customers will move to where they can see the best offers or to the brands which their closest friends or business colleagues use. Fixed line users will be able to switch their number to other fixed line operators, while mobile customers will be able to switch between the brands.
“People who benefit from migration are little guys,” says CEO of Zapp Romania, Chris Bataillard. “We have a lot of potential customers who have GSM sim cards. They want our service but want to keep their number. The number of users transferring could increase by up to 15 per cent between all networks.”
Vodafone does not expect the move will change users’ preferences or bring major shifts to the market. “We will continue to develop on all areas and value our competitive advantages through offering unique products, services and tariff plans,” says Vodafone’s Liliana Solomon.
Meanwhile Orange’s Richard Moat does not believe the change will shake the foundations of the industry. “In virtually every country where number portability has been introduced has not been a significant change in the number of people switching between networks,” says Moat. “I would not think it would be that much different here.”

Feature by Michael Bird
Additional reporting: Alexandra
Pehlivan and Ana-Maria Nitoi



--------------------------------------------------------------------------------

State of players

■ Vodafone Romania

Owned by Vodafone [Great Britain]
Customers: 8.8 million [December 2007]
Vodafone is currently evaluating the possibility of purchasing one of the
so-called WiMax licenses this year.

■ Orange

Owned by France Telecom [France]
Customers: ten million [March 2008]
Orange is targeting 10.7 million customers by the end of 2008 and is interested in the so-called WiMax, due for sale this year.

■ Zapp

Owned by Saudi Oger [Saudi Arabia]
Customers: 500,000 [June 2007]
Zapp is preparing to launch a pre-pay service for voice and is interested in bidding for one of the so-called WiMax licenses. New CEO Chris Batalliard says that Zapp, the fourth largest of five mobile operators, is not for sale. “We are looking for partnerships,” he adds. “We are not planning to make any purchases on the market, but nothing is excluded.”

■ Cosmote

Owner: OTE [Greece]
Customers: 3.6 million [March 2007]
This year, Cosmote Romania plans to put special emphasis on its post-paid segment. The company hopes to make its first net profit by 2009. Deutsche Telekom last March announced its purchase of 20 per cent of OTE, which will give the Germans twenty per cent of the Greek company’s stake in Romtelecom and Cosmote.

■ Romtelecom

Owner: OTE [Greece]: 54. 01 per cent, the Romanian state: 45.99
per cent
Romtelecom is interested in buying the so-called WiMax license up for grabs this year to increase broadband penetration. The company also offers a cable television service, Dolce. “This year we will focus on giving more consistency to the partnership with Cosmote to provide also mobile telephony services,” says Yorgos Ioannidis, CEO of Romtelecom.

■ RCS/RDS

Owned by Cable Communications Systems [The Netherlands]
Launched its 3G service this year.
The company is specialised in providing fixed telephony, Internet services and cable and satellite television.

Government prepares to sell Romtelecom on stock markets
The Ministry of IT&C is planning to sell at least ten per cent of its 45.99 per cent shares in Romtelecom, the largest Romanian fixed telephony company. The majority stock of 54.01 per cent of the total shares belongs to Greek company OTE. Now the authorities are trying to organise an auction to hire a consultant to evaluate how many shares to sell and which stock markets to use. The options are Bucharest, London, Vienna and/or Frankfurt. “In case the stock markets are down, we could postpone the initial public offer until the situation will give us a successful listing,” says Minister Karoly Borbely.
Source : http://www.thediplomat.ro/features_0408_1.php

[nebunul]

Does anybody have any information about the future Bucharest-Craiova motorway? Links, pictures, news etc...

AFAIK there is no such proposal - http://en.wikipedia.org/wiki/Roads_in_Romania

[Le Clerk]

Business Standard
16/04/2008



FDI up 40 percent in January and February

16 aprilie 2008 de Bogdan Asaftei


Foreign direct investments (FDI) in Romania rose 40 percent year-on-year in the first two months of 2008, up to €1.22 billion. FDI covered 55.5 percent of the current account deficit.

Of total foreign investments made in January and February 2008, capital participation and reinvested profit made up some 49.2 percent, while the remaining 50.8 percent was intra-group loans.

Romania’s current account deficit widened 5.6 percent in the first two months of 2008, up to €2.193 bln, according to the National Bank of Romania (BNR), significantly lower than in January.

[Le Clerk]

Daily Business
15/04/2008



40 de concedieri la Gameloft Romania, care muta unele activitati in Asia
Publicat pe 15 Apr. 2008

Compania producatoare de jocuri pentru telefoanele mobile Gameloft Romania a concediat circa 40 de angajati de la inceputul anului, intr-un proces de relocare a activitatilor de testare catre China si India, au spus oficialii companiei pentru DailyBusiness.

Concedierile vizeaza activitatile de testare, care "se pot face mai eficient in tari precum China si India", a spus Sebastien Delen, managing director al Ubisoft Romania, compania de care apartine Gameloft, adaugand ca Romania ramane o tara potrivita pentru producerea de jocuri.

Testarea reprezinta de obicei "poarta de intrare" pentru angajatii noi in industria producatoare de jocuri, nefiind necesare studii de specialitate sau cunostinte avansate de programare sau design.

Gameloft incearca in ultimul timp sa mute accentul pe productia de jocuri, in Romania. In ultimele 18 luni au fost disponibilizati circa 100 de testeri de jocuri din cadrul Gameloft Romania, in schimb fiind angajati circa 50 de designeri, programatori sau artisti desenatori, a declarat Delen.

"In Romania, am constatat ca este mai eficient sa producem jocuri decat sa testam. Am finalizat switch-ul de la testare catre programare si design de jocuri pentru mobile", a spus Delen.

Acesta a precizat ca fostii angajati au primit pachete compensatorii "in concordanta cu legea si contractele semnate la angajare".

"Electronic Arts mai are de lucru 3-5 ani ca sa ne ajunga din urma"

In prezent, Ubisoft are 500 de angajati in Romania, cu 20 mai mult fata de finalul anului trecut, atat pentru productia de jocuri de PC si console, cat si pentru jocurile pe mobil (prin Gameloft). Delen estimeaza ca la finele lui 2008 grupul va avea 600 de angajati.

"Stim ca Electronic Arts Romania angajeaza masiv, dar pana sa ajunga la nivelul nostru, atat ca numar dar mai ales ca pregatire a angajatilor, vor mai trece 3-5 ani", este de parere Sebastien Delen. Acesta este de parere ca Electronic Arts "incearca sa calce pe urmele Ubisoft".

Contactati de catre DailyBusiness, reprezentantii Electronic Arts Romania nu au facut comentarii in legatura cu acest subiect.

Electronic Arts Romania avea la inceputul lunii februarie 180 de angajati. Numarul acestora a crescut la 220 in prezent, iar compania si-a revizuit in crestere obiectivul de angajari pentru sfarsitul acestui an, tintind sa ajunga la 370 de salariati (fata de obiectivul anterior, de 320).

"Pentru a crea o echipa buna, este nevoie de timp indelungat", a mai spus Delen.

Ubisoft Romania a inregistrat in 2007 afaceri de circa 11 mil. euro, in crestere cu 30% fata de 2006. Pentru 2008, general managerul companiei estimeaza o crestere a afacerilor cu circa 25%.

La nivel global, compania canadiana Electronic Arts se afla printre actionarii grupului francez Ubisoft.

[nebunul]

Business Standard
16/04/2008

^^ We may see a ~10 billion Euro FDI this year. Fingers crossed :cheers:

According to a survey by the Center for European Economic Research (ZEW), 37 percent of foreign investors polled consider Romania the most attractive site, ahead of Poland at 34 percent and the Czech Republic and Hungary at 6 percent each.


http://www.my-esm.com/showArticle.jhtml?articleID=207200233

[nebunul]

Romania shapes up as IC design site
http://eetimes.eu/showArticle.jhtml?articleID=207001176

BERLIN — eSilicon Corp (Sunnyvale, CA) inherited an 8-person design team in Bucharest, Romania through the 2004 acquisition of Sycon Design, a Silicon Valley firm.
Today the Romanian operation employs 25, is doing core product design and has brought substantial operational cost advantages to eSilicon.

"I was surprised to find it less expensive to operate in Romania than in India, Malaysia or China," said Hugh Durdan, VP of marketing for eSilicon, a custom IC developer. "It's been a big advantage for us." India gets all the press, but Romania is preferable for chip design for several reasons, he said. The Romanian team does core product design in collaboration with the US operation. One example is their involvement in a 65nm network processing chip for a European customer.
Romania's lowcost IC design talent is quickly being discovered. Chip companies Infineon and Microchip Technology run R&D operations and Siemens VDO (now Continental) designs automotive electronics in the country.
Romania's average net wage is perhaps the lowest in the EU and has increased at a relatively slow rate, from $193 (124 Euros) in 2002 to $519 (333 Euros) this year, according to Romania's National Forecast Commission. (This year's figure, however, represents a 13 percent year-on-year increase). By comparison, the average net wage in the Czech Republic, Hungary and Poland is above $1100 (700 Euros).
ESilicon has also moved some administrative functions such as purchase order processing to Romania. Management plans to expand Romanian staff this year, but Durdan declined to give specifics.
The country's low wages have caused the workforce to migrate in search of higher paying jobs and a labor shortage exists in some areas. ESilicon, however, has been able to find engineers with 3-5 years experience. "At the level we've been hiring, we've had no difficulty finding the employees we want," Durdan said.
Retaining engineers hasn't been a problem, as the team lost only one person in four years, he added.

[Le Clerk]

^^ We may see a ~10 billion Euro FDI this year. Fingers crossed :cheers:


http://www.my-esm.com/showArticle.jhtml?articleID=207200233

Yeah, I always thought FDI will be bigger this year than previous.

[RODINVEST]

let's hope so. Any way with the recession in Spain and the housing sector going down in England I see at least 100.000 romanian emigrants going out of work. This wolud mean that at leat 1 billion euro will not come in to the country as in the later years. I hope that these people come home with a diffrent perspective on things and mabey bring some western way of thinking and of working

[nebunul]

^^ You forget that Spanish and English (private/companies/funds etc) may invest in RO (now) as the return is much higher ...

[Le Clerk]

let's hope so. Any way with the recession in Spain and the housing sector going down in England I see at least 100.000 romanian emigrants going out of work. This wolud mean that at leat 1 billion euro will not come in to the country as in the later years. I hope that these people come home with a diffrent perspective on things and mabey bring some western way of thinking and of working

A lot of these workers will return to Romania to fill the empty work spots of the construction industry or create new businesses. I am optimistic about this reversal of the trend. The construction industry will grow even more with this influx of skilled workers, which means more investments and faster overall development of the economy.

[Le Clerk]

Business Review
16/04/20008

Emerson starts operations in Tetarom II

American electrical and gas equipments producer Emerson started the operations within Cluj Napoca-based industrial park Tetarom II, the company announced. Emerson acquired 12 hectares in the park in order to build 2 production spaces and a research center, following a total investment worth EUR 120 million. Emerson plans to build a total of 5 production spaces in the next 5 years and a new research center, officials with the company stated.

[Cosmin]

http://img166.imageshack.us/img166/4812/smailos1000fulleuropexc3.jpg
First Romanian made GPS device

Smailo is a low-cost GPS device manufactured by AROBS Transilvania Software. It comes with a 4.3" display and costs ~190 EUR (map of Eastern Europe included) or 220 EUR (map of whole Europe included) and can also act as a radar detector.
A apărut primul GPS made in Romania

Romanii atacă piaţa GPS-urilor estimată pentru anul acesta la aproximativ 15 milioane de euro

Unul dintre cei mai importanţi dezvoltatori de software pentru aplicaţii mobile şi distribuitori de echipamente GPS şi smartphone-uri cu GPS, compania AROBS Transilvania Software, a lansat prima marcă de GPS-uri romanească.

Denumit Smailo, GPS-ul atacă piaţa cu preţuri reduse. Modelul, cu un ecran de 4,3”, este dedicat posesorilor de maşini middle class şi costă 699 de lei, cu Harta Europei de Est sau 799 de lei cu harta Europei extinsă (43 de ţări). De asemenea, utilizatorii Smailo pot localiza obiectivul la care doresc să ajungă la nivel de stradă şi număr în toate cele 43 de ţări incluse în hartă.

GPS-ul poate funcţiona şi ca un antiradar, oferind posibilitatea de a downloada locaţiile radarelor fixe de pe tot teritoriul Europei precum şi diferite puncte de interes. “Smailo a apărut ca urmare a creşterii cererii consumatorilor pentru produse dedicate de navigaţie GPS, dar şi din dorinţa AROBS de a-şi consolida poziţia pe piaţa dispozitivelor cu GPS incorporat. Smailo vine la un preţ foarte accesibil, ceea ce sperăm să contribuie la transformarea acestui sistem GPS de navigaţie într-un “must – have” pentru toţi participanţii la trafic din Romania” a declarat Voicu Oprean, General Manager al AROBS Transilvania Software.

Piaţa de sisteme GPS a fost estimată anul trecut la aproximativ 10 milioane Euro, fiind comercializate în jur de 40.000 de unităţi. Pentru anul acesta, companiile din industria de profil mizează pe o creştere de 50% , iar tendinţa etse de creştere. “Estimăm o creştere a pieţei dispozitivelor GPS de cel puţin 50% atît pe fondul creşterii detalierii hărţilor, cît şi intrării pe piaţă a unor noi producatori şi piaţa se va segmenta foarte mult” , susţine Oprean. Trendul este vizibil şi pe plan mondial, estimările indicţnd că GPS-ul va fi printre tehnologiile cu cea mai mare creştere. În anul 2007 s-a înregistrat un plus a numărului de unităţi vîndute de 488%, conform unui studiu al NPD Group, citat de Forbes.

Pe plan local, cele mai bine vîndute dispozitive GPS au fost: PND-urile, Smartphone-urile cu GPS şi sistemele PDA cărora li se poate transfera programul necesar navigaţiei printr-un dispozitiv GPS pe Bluetooth, în vreme ce brandul numărul unu este la ora actuală Mio.
Cotidianul (http://www.cotidianul.ro/a_aparut_primul_gps_made_in_romania-43643.html)

[tomis3]

Smailo???? WTF...Was "Shitty and Meaningless Name" taken?

[Le Clerk]

Yeah, sounds like Smeagol in the Lord of the Rings :lol:

Yet, they had a very good idea to come up with this product on the market. I am sure they'll do OK, despite the shitty name.

[Cosmin]

^^I guess it was quite a brainstorming session that produced the name.:lol:

Hell, I'd buy one... Bucharest drives me mad...:rant:

[COTNARI]

http://img166.imageshack.us/img166/4812/smailos1000fulleuropexc3.jpg
First Romanian made GPS device

Smailo is a low-cost GPS device manufactured by AROBS Transilvania Software. It comes with a 4.3" display and costs ~190 EUR (map of Eastern Europe included) or 220 EUR (map of whole Europe included) and can also act as a radar detector.



This it's not possible! so let's call it radar reminder :D

[tomis3]

Bad news for Romania and Bulgaria...EU says it's powerless to push reforms in the two countries.

from: www.ft.com

Brussels has limited powers to pressure errant newcomers

By Tony Barber in Brussels

Published: April 17 2008 03:00 | Last updated: April 17 2008 03:00

Dissatisfaction with corruption, organised crime and political foot-dragging in Bulgaria and Romania is running deep in older European Union member states as well as in Brussels itself. But EU policymakers say that because Bulgaria and Romania are full members of the 27-nation bloc, the EU has few hard instruments at its disposal to compel its two newest and poorest entrants to raise their standards.

In the months before Bulgaria and Romania joined in January 2007, the EU found itself in a trap, in which it sensed they were not ready for membership, but could not delay their entry without reneging on earlier promises and damaging the EU's reputation.

The accession treaties of Bulgaria and Romania contain three clauses that provide a legal basis for possible action against them, but they apply only until the end of 2009.

The "economic safeguard clause" permits action if either state's entry into the single market has damaged European economic sectors. This clause is unlikely to be invoked because the problems are not primarily economic in nature.

Under the "internal market clause", some EU-funded projects could be halted if, for example, Sofia or Bucharest were deemed not to have complied with public procurement rules. Agricultural subsidies could also be cut or withheld.

These are powerful weapons, because Romania is due to receive €32bn ($51bn, £26bn) and Bulgaria €11bn in aid by 2013. But some EU officials regard the punishments as unsuitable, because agriculture and procurement are not at the heart of the corruption problems.

The "justice and home affairs clause" lets other states refuse to recognise Bulgarian and Romanian court decisions if they have little confidence in the two countries' judicial systems. In extreme circumstances, EU states could invoke Article 7 of the Treaty on European Union.

This suspends certain rights of a member state if it is judged to be in "serious and persistent breach" of EU principles of liberty, democracy, human rights and the rule of law.

[Le Clerk]

Business Standard
18/04/2008



18 aprilie 2008 de Andreea Groenendijk

The cumulated business of the top six companies in Romania in terms of turnover in 2007 exceeds €12.8 billion. The value is equal to some 5 percent of income generated by Exxon Mobil, the world’s top company in 2007, which posted sales in excess of €261 bln last year.

Top players in Romania are dominated by energy companies Petrom, Electrica and Rompetrol Rafinare, and the automotive, metallurgy and retail sectors, with Automobile Dacia, ArcelorMittal Galati and Metro, respectively, whose cumulated profit was some €720 million.

“It is not at all unusual for such a ranking to be dominated by energy companies. If you look at Russia or the U.S. you will notice the same pattern. With the price of oil rising rapidly, it is natural that all businesses involved in this area should increase significantly. In any case, by their very nature, these businesses are very large,” according to a declaration for Business Standard by Codrut Pascu, Managing Director of the Roland Berger management advisory company.

[Le Clerk]

The Romanian Agency for Foreign Investment (ARIS) has requested the management of Tetarom to expand its 154 hectare Tetarom III park by 50 hectares, to accommodate the branch of an American company which intends to carry out a significantly higher investment than the over €60 million by Nokia in its telephone production unit, according to a declaration for Business Standard by the industrial park’s Director, Viorel Gavrea.

“By July, we intend to bring a multinational company to Tetarom, to join Nokia. This company will carry out a much larger investment than Nokia. We had a month of teleconferencing involving representatives of ARIS, the Cluj County Council, Tetarom, and of Deloitte&Touche of Chicago, who are advising the investor,” added Gavrea. He said he could not divulge the name of the investor as the company must first communicate its intentions to the trade union and the stock exchange on which it is listed.

The Tetarom representative indicated that the land needed for the investment, which has all necessary utilities, is available and is located next to that acquired by Nokia. “At the conclusion of the Nokia investment, we had another 50 hectares of land at Tetarom III, which we intended to auction off. After receiving the request from ARIS for this space we decided to make this land available,” said Gavrea.

German Siemens is presently the most important investor in the Tetarom I industrial park, with 32 hectares, while Emerson invested €125 mln in 12 hectares in Tetarom II.

Foreign direct investments in Romania amounted to €9.2 billion in 2006, of which €2.2 bln was for the privatization of Banca Comerciala Romana by Austrian Erste bank, and to €7.1 bln in 2007.



Which company are you putting your bets on? Hint: Chicago. ;)

[Le Clerk]

Deleted

[Le Clerk]

Nobody is taking a chance? :dunno:

[Le Clerk]

An interesting phenomenon: companies moving from west Romania to East Romania in search of lower wages.


Teba Industries closes plant with 900 employees in Arad

Autor: Ziarul Financiar
Data: 17-04-2008

High labour costs are driving Teba Industries group towards East Romania. The shareholders of clothing manufacturer Teba Industries have decided to close down the plant in Arad and move operations to Iasi, due to the shortage of personnel in West Romania and rising salaries in the area. "The shareholders want to work in more profitable areas. For the plant in Iasi, labour is cheaper, and it is easier to find skilled personnel," says Laura Madosa, general manager of Teba Industries.

Over 900 employees that work at the Arad-based plant, which manufactures children's clothing, will be affected by the relocation. The decision to close the facility in Arad was made in October last year, and operations will be moved to Iasi by August. There are currently 600 employees left at the plant in Arad. "The company has offered the employees the opportunity to relocate to Iasi, but very few are willing to make the move," added Madosa, specifying that the employees who have accepted are mostly engineers and other specialists.
Sursa: www.zf.ro/articol_169115

[Le Clerk]

Which company are you putting your bets on? Hint: Chicago. ;)

OK, I'll throw my bet: Chicago+competition to Nokia = Motorola! :banana:
(Motorola's HQ is in a town in Illinois, near Chicago)

So, are the big American corporations coming in a big wave finally? Take Ford, Emerson, Delphi, now possibly Motorola...

[tomis3]

OK, I'll throw my bet: Chicago+competition to Nokia = Motorola! :banana:
(Motorola's HQ is in a town in Illinois, near Chicago)

So, are the big American corporations coming in a big wave finally? Take Ford, Emerson, Delphi, now possibly Motorola...

they are all trying to get the fuck away from the US economy.

[Le Clerk]

No, I disagree. They are looking to fill new and profitable markets like those in EE.

[emilianmg]

in Romanian but.... :)


România ar putea depăşi Italia în 2020 din punct de vedere economic
talia ar putea fi depăşită din punct de vedere economic de România în 2020, în cazul în care actualul ritm de creştere a economiei italiene, apreciat de Fondul Monetar Internaţional la doar 0,3 la sută pentru următorii doi ani, rămâne neschimbat, relatează The Economist în ediţia electronică.

Cu o săptămână înainte de alegerile legislative din Italia, Fondul Monetar Internaţional (FMI) a redus previziunile privind creşterea economiei italiene la doar 0,3 la sută pentru anii 2008 şi 2009. O astfel de previziune economică transformă Italia într-una din ţările cu cea mai lentă dezvoltare economică din Europa şi din statele G8, scrie sursa citată.

În zona euro, Italia se confruntă cu un risc sporit de a intra în recesiune economică în următoarele 12 luni. La mijlocul anilor '90, PIB pe cap de locuitor al Italiei era cu 20 la sută mai mare decât media înregistrată în prezent în rândul celor 27 de state comunitare, clasându-se pe locul doi după Germania. În prezent, PIB-ul italian a scăzut pentru prima dată sub media euroepană, dezvăluie The Economist.

În 2006, Spania a depăşit Italia în privinţa PIB-ului iar în 2009 ar putea fi depăşită de Grecia. Fracesco Grillo, profesor la London School of Economics, susţine că, dacă actualul ritm al creşterii economice rămâne neschimbat, PIB-ul României îl va depăşi pe cel al Italiei în 2020.

Serviciile în sunt subdezvoltate în Italia, ţară care a căzut, de asemenea, de pe prima poziţie în clasamentul celor mai populare destinaţii turistice din lume, pe cea de-a cincea.

Prestaţia lui Silvio Berlusconi în mandatele trecute nu este însă încurajatoare, scrie The Economist, deoarece guvernele sale au fost reticente în reformarea economiei naţionale, în timp ce privatizările au fost un obiectiv urmărit cu mai mult interes de executivele de centru-stânga.
http://www.mediafax.ro/economic/romania-ar-putea-depasi-italia-in-2020-din-punct-de-vedere-economic.html?1686;2564220

[Le Clerk]

^^^^
The Economist
17/04/2008



Italy's election

Italy embraces Silvio, again and again

Apr 17th 2008 | ROME
From The Economist print edition



Il Cavaliere gets a third term as prime minister. But he is unlikely to change his ways, or bring Italy out of economic decline

SILVIO BERLUSCONI is the great Jack-in-the-box of European politics. In a general election on April 13th and 14th, Italian voters released the catch and his ever-grinning figure has sprung out once more. Given to buffoonery, surrounded for years by questions about his probity and the conflict of interests between his media empire and his political office, Mr Berlusconi has nevertheless been chosen to become prime minister for the third time.

If he sees out his new mandate—and his resounding majorities in both houses of parliament should ensure that he does—Mr Berlusconi will have governed the country for 11 out of 19 years. Indeed, Mr Berlusconi has already done much to remake Italy in his own image. It is more glittery, perhaps, but also less respectful of the rule of law, stubbornly unreformed economically and more distant from European correctness in its public discourse, for instance on issues of sex and race. How many aspiring prime ministers could get away with describing older female supporters as their “menopause section”?


More than other politicians, the television and publishing mogul likes to communicate through the media. It made for an eerily remote election night. When the results were announced, there was no victory speech by Mr Berlusconi to jubilant supporters. Instead he took a call at home from his defeated opponent, then telephoned a television programme to say he was deeply touched by the trust voters had placed in him.

In a country used to weak coalitions (the outgoing centre-left government led by Romano Prodi lasted less than two years) voters have given Mr Berlusconi's People of Freedom movement and its allies an unusually solid majority. In the ballot for the Chamber of Deputies—the best indication of the overall mood—it won about 9% more votes than the centre-left alliance led by Walter Veltroni. This was as big a victory as anything predicted by the last opinion polls before the ballot.

With the help of a bonus given to the winning party, the pro-Berlusconi camp has a 98-seat majority in the 630-member lower chamber, with all but a few thousand votes counted. The centre-right Union of Christian and Centre Democrats (UDC), which refused to join Mr Berlusconi's new movement, won 36 seats.

In the upper house, the Senate, where the premiums are handed out on a regional basis, Mr Berlusconi might have faced problems. But the swing in his favour was strong enough to deliver 174 of the 315 elected seats (seven more are filled by life senators). Mr Veltroni and an allied party won 132. The UDC's leader, Pier Ferdinando Casini, who had dreamt of holding the balance, will dream on. His party was left with just three seats.

What accounts for Mr Berlusconi's thumping victory? In part the fact that Mr Veltroni, a former mayor of Rome, was unconvincing in his claim to represent a new kind of politics.

Though 19 years younger than the prime minister-elect, who is now 71, Mr Veltroni was already a seasoned politician when Mr Berlusconi entered political life in 1994. He began his career as a young communist and, for many Italians, remains tainted by his Marxist past. Though he openly modelled himself on America's Barack Obama, his oratory never reached the same inspiring heights.

Nevertheless, says Massimo Franco, a Corriere della Sera columnist, Mr Veltroni “was more victim than culprit”. He did not have time to erase from voters' minds their often painful memories of Mr Prodi's tenure. Wracked by internal dissent, the outgoing government limped from crisis to crisis, the last and most toxically symbolic of which was last December's refuse-collection crisis in Naples and the region of Campania. Unsurprisingly, the People of Freedom scored particularly well there, and Mr Berlusconi has promised to deal with the rubbish issue as his first priority.

Mr Prodi's principal success had been to get the budget deficit back under 3% of GDP, as required by European Union rules. But it came at a cost. The outgoing finance minister, Tommaso Padoa-Schioppa, put up tax rates while cracking down on tax evasion—a combination that made the government hugely unpopular, and damaged Mr Veltroni's campaign.

The outcome of the election offers Italy the prospect of political stability for the next five years, and perhaps beyond. Paradoxically, an electoral system based on proportional representation, which led to Mr Prodi's unwieldy nine-party coalition, has produced something resembling a two-party legislature familiar in America or Britain. The next parliament will comprise, in essence, two opposing blocks.

Several of the tiny parties and personalities that were able to hold to ransom successive governments, and block their attempts at reform, have been swept out of the legislature. The radical left, represented by an alliance of greens and communists, was crushed. Its leader, Fausto Bertinotti, promptly resigned.

Mr Berlusconi has a more cohesive coalition than in the past. Gianfranco Fini and his “post-fascists” had already signed up for the People of Freedom. The departure of the UDC rids Mr Berlusconi of his most awkward bedfellow. Of his party's two external allies, the Northern League and a smaller group demanding greater autonomy for Sicily, the most unpredictable is the former.

Led by the eccentric and raucous Umberto Bossi, the xenophobic Northern League did outstandingly well. The party almost doubled its share of the vote. It will have the third-biggest presence in parliament and holds the balance of power in the Senate. Soon after the polls closed, Mr Berlusconi echoed some of their agenda, proposing a bizarre scheme to close Italy's frontiers and open camps for the identification of jobless foreigners.

Italians awoke on April 15th to find themselves in a country once again dominated by conservatives. But of what sort? The progress of the Northern League, a natural recipient of protest votes, suggests that large numbers of voters were seeking refuge from the terrors of globalisation. Mr Bossi's party is both anti-immigrant and protectionist.

But in the campaign Mr Berlusconi gave out contradictory signals. Some of his rhetoric was liberal on economic issues. He promised spending cuts, lower taxes and public asset sales. But he also spoke as a nationalist. In particular, he dismissed plans to sell Alitalia, Italy's stricken national airline, to Air France-KLM and talked up a home-grown alternative that has yet to materialise.

Much hangs on Mr Berlusconi's economic direction. The extent of Italy's malaise was made clear only a week before the ballot, when the IMF cut its growth forecast for the country to 0.3% for both 2008 and 2009. That would make Italy's the slowest-growing economy in Europe and among the G8 rich countries.

In the euro zone, Italy is the country most likely to tip into recession in the next 12 months. In the mid-1990s its GDP per head, at purchasing-power parity, was 20% above the average for the 27 countries in today's European Union. It was richer than Britain and France, and second to Germany among big EU states. Twelve years on, it has fallen below the EU 27 average for the first time.

In 2006 it was overtaken by Spain; next year it may fall behind Greece (see chart). Francesco Grillo, at the London School of Economics, suggests that, if current trends remain unchanged, Romania will overtake Italy in 2020. That may be fanciful, but it confirms that slow growth has become Italy's worst failing. It has persisted under governments of left and right alike. None has been bold enough to push through liberalising structural reforms to raise growth and productivity.

Italy remains one of the most regulated economies in western Europe. It is also stuck with higher inflation and lower productivity growth than other euro-zone countries and has, as a result, steadily lost competitiveness. The impact of slow growth feeds on itself. Had Italy grown by the EU average over the past decade, its public debt would have fallen from over 100% of GDP to around 80%; and it would not have had to raise the tax burden to 43.5% of GDP to meet the goals set by the EU's stability pact.

Faster growth would have lured in more foreign direct investment: Italy now gets half as much as Spain as a share of GDP. And it would have attracted more investment in Italy's lousy infrastructure, which has become a serious drag on business. The economy is over-reliant on small and medium-sized enterprises in such traditional industries as textiles, shoes, white goods and furniture. These industries are the most exposed to lower-cost competition from China and the rest of Asia.

Services are under-developed. Even in tourism, where Italy has a natural advantage, it has fallen from first- to fifth-most popular destination over the past 30 years. Education is a mess. Italy does worse than anywhere else in western Europe in the OECD's PISA tests. Universities seem to be run for the benefit of academics. Italy has no universities in the world's top 100. In 1970 30% of university teachers were over 45; today that figure is 70%.

And then there is the legal system. Luigi Spaventa, a former financial regulator who chairs the Sator financial group in Rome, argues that long delays in civil-justice proceedings deter investment.

There are some reasons for hope, though. Italy's employment performance is good: joblessness is at a 30-year low. Exports have been booming, despite the strong euro, as companies move up the value-added chain. The country's biggest private company, Fiat, has been turned around. Italy's banks have improved under the spur of competition, and they have mostly avoided the sub-prime debt that is dragging down rivals in Europe.

If the new government were to unleash Italian entrepreneurs, they would surely respond. Will it? At times Mr Berlusconi has appeared to grasp the seriousness of Italy's condition. But what remains in doubt is whether he is truly committed to liberal reform, or even understands that it is incompatible with economic nationalism.

His past record in office is not encouraging. Nothing was done to shake up Italy's myriad protected businesses, from taxi drivers and notaries to pharmacies and small shopkeepers. Schools and universities went mostly unreformed; the public administration was barely touched. Privatisation has been pursued more vigorously by centre-left governments.

There are other reasons to worry about economic management under Mr Berlusconi. One is public finance. During his previous stint in office, Giulio Tremonti, whom Mr Berlusconi intends to re-appoint as finance minister, showed remarkable complacency. A surplus (before interest payments) was turned into a deficit. If the downturn in Europe is deeper and longer than expected, the budget deficit could quickly get out of hand again.

The second worry is Mr Tremonti's belief that globalisation has made Italy's problems worse. He has just published an anti-globalisation tract, “Fear and Hope”. He dismisses accusations of protectionism as infantile. But experience suggests that neither he nor Mr Berlusconi is a true believer in free markets.

On April 16th Mr Berlusconi said Europe needed to regain influence in the world, but he dislikes the economic strictures that the EU seeks to impose, whether on euro-zone interest rates, fiscal policy or competition.

Alitalia looks as if it will be a test case of Mr Berlusconi's intentions. The European Commission will try to stop the government keeping the national carrier airborne with fresh subsidies. It may be the first of many confrontations between Rome and Brussels.


Copyright © 2008 The Economist Newspaper and The Economist Group. All rights reserved.




PS: I am not very jubilant about this, because Italy's in a very bad situation, and if Romania were to catch up with Italy in such a short time, it's because Italy's economic slump, and not because Romania's economy is overperformant (which dooes not mean that Romania is not doing well economicallly at this moment).

[Le Clerk]

Among the 8 bidders, SAAB and Alenia are the favourites. The privatisation agency requires that wining company will continue to produce military and civil jet aircraft.

SAAB's offer contains an offset proposal for Romania's jet fighter acquisition programme with investments in value of 3.5 billion EUR. SAAB seems to be the most favourite contender, as it offers to make from the Avioane Craiova a builder of Gripen military jet fighters and civil aircraft, as well as a maintenance center for Gripen aircraft in CEE.

Let's hope SAAB will be the winner of the tender. This way, we'll get new fighter planes, and we'll also preserve and upgrade the production of military aircraft.

Some pictures from the Avioane Craiova plant and aircrafts (http://www.acv.ro/):

http://img262.imageshack.us/img262/8269/poza11mareyn7.jpg

http://img208.imageshack.us/img208/4720/poza12mareec1.jpg

http://img262.imageshack.us/img262/1610/poza22marexu2.jpg

http://img208.imageshack.us/img208/364/poza32mareha3.jpg

http://img262.imageshack.us/img262/9818/poza33marewq9.jpg

http://img262.imageshack.us/img262/5250/poza31marevg2.jpg

Daily Business
18/04/2008




Lista de asteptare pentru Avioane Craiova a crescut la 8 investitori


Numarul investitorilor interesati de preluarea Avioane Craiova a ajuns la 8, dintre care patru sunt din strainatate, conform companiei.

Patru investitori straini, printre care SAAB, Sabca sau Alenia Aeronautica si alte patru companii romanesti, printre care INAV si Pro Faur Invest, sunt interesate de privatizarea societatii Avioane Craiova, singurul producator roman de aeronave militare.

Uzina de avioane din Craiova a intrat in vizorul investitorilor, potentialul de business fiind foarte ridicat, spun oficialii Autoritatii pentru Valorificarea Activelor Statului (AVAS), care detine peste 80% din Avioane Craiova, in conditiile dezvoltarii unei piete de transport aerian destinata in principal mediului de afaceri si turism.

Ionel Boldisor, managerul companiei Avioane Craiova, a declarat, pentru DailyBusiness, ca a discutat deja cu 8 companii interesate de privatizarea societatii. Opinia generala a investitorilor este ca uzina ar putea produce aeronave civile, usoare dar si militare, iar in plus ar putea deveni un centru de mentenanta pentru piata aeronautica din Estul Europei.

"Potentialul companiei este unul ridicat, dovada interesul investitorilor. Linia tehnologica poate fi adaptata pentru dezvoltarea unor proiecte investitionale variate, ce includ atat productia cat si partea de service pentru aeronave", a explicat Boldisor.

"Din discutiile purtate cu investitorii care au solicitat acces la camera de date (informatii cu privire la afacerile companiei - n.r.), am sesizat un interes major pentru preluarea pachetului majoritar de la AVAS", a mai spus managerul Avioane Craiova.

"Se pot produce de la aeronave militare pana la aeronave usoare, de business, pentru care exista o oferta in crestere, inclusiv pe piata romaneasca. Transportul aerian civil are un potential foarte mare pe viitor, avand in vedere situatia din transportul rutier. Avioane Craiova ar putea deveni inclusiv un centru de mentenanta pentru piata aeronautica regionala", a estimat Boldisor.

Infiintata in 1972, Avioane Craiova este, in prezent, unicul producator de aeronave de tip militar din sistemul industriei aeronautice romanesti si al avionului de scoala si antrenament IAR 99 SOIM, compatibil cu standardele NATO, destinat Fortelor Armate Romane.

Societatea poate desfasura si activitati de intretinere si reparare autovehicule, constructii metalice si parti componente, lucrari de instalatii electrice, izolatii si protectie anticoroziva, activitati de proiectare, urbanizare si alte servicii tehnice, cercetare-dezvoltare si alte activitati.

SAAB si Alenia Aeronautica, favoriti in cursa pentru Avioane

Printre firmele interesate de uzina din Craiova se afla concernul suedez SAAB, producatorul avioanelor militare de vanatoare Gripen, ce ar putea fi asamblate la Craiova.

Interesul firmei suedeze pentru Avioane Craiova este in stransa legatura cu intentia Romaniei de a-si moderniza flota de avioane de lupta.

SAAB propune guvernului avionul JAS-39 Gripen, pe care il considera a fi cea mai avantajoasa optiune pentru Romania, investitia urmand sa vina cel mai probabil la pachet cu preluarea societatii din Craiova unde, alaturi de avioane, ar urma sa fie produse si piese de schimb.

"Achizitionarea unui avion de lupta nou pentru fortele aeriene este o investitie mare pentru orice tara si este important ca banii contribuabililor sa fie cheltuiti cu intelepciune. De aceea suntem bucurosi sa includem un pachet de offset (investitii directe si crearea de noi locuri de munca - n.r.) ce va impulsiona economia Romaniei si va crea fonduri care sa poata fi folosite pentru a plati avioanele Gripen", a declarat, citat de NewsIn, Richard Smith, director de marketing pentru Romania al Gripen International, firma care comercializeaza avioanele JAS-39 Gripen produse de Saab din Suedia.

"Asta inseamna investitii pe termen lung, care vor continua sa genereze bani si locuri de munca mult timp dupa ce vor fi livrate avioanele. Am sugerat Guvernului roman ca offsetul poate cuprinde sectoare diferite ale economiei si regiuni diferite ale tarii, inclusiv activitati legate de avionul Gripen pentru industria aviatica nationala", a precizat Smith.

La Craiova ar putea avea loc asamblarea finala a avioanelor Gripen, precum si fabricarea de piese si componente pentru acest tip de avion. Valoarea pachetului investitional oferit Romaniei ar fi de cel putin 100% din valoarea contractului de achizitie, estimat la 3,5 miliarde de euro.

Un alt investitor strain interesat de Avioane Craiova este compania Alenia Aeronautica.

Compania italiana, unul dintre principalii operatori mondiali de aviatie comerciala si militara, are deja afaceri cu statul roman, urmand sa livreze, incepand din acest an, sapte avioane C-27J catre Romtehnica, un business in valoare de 219 milioane de euro.

In conditiile in care contractul dintre Romtehnica si Alenia Aeronautica include, pe langa livrarea aparatelor, pregatirea personalului navigant, suportul logistic initial si simulatorul de zbor, Alenia este, conform managerului de la Avioane Craiova, extrem de interesata de o dezvoltare a afacerilor din Romania.

"Atat SAAB cat si Alenia au dovedit un interes major pentru uzina, fiind interesati de toate informatiile economico-financiare din ultimii ani. Ofertele lor sunt ferme si cred ca vor avea un cuvant greu de spus in cadrul licitatiei", a declarat Ionel Boldisor, managerul companiei Avioane Craiova.

Pe lista celor care s-au interesat de privatizarea Avioane Craiova se mai afla, printre altii, firma belgiana Sabca, specializata in constructia de componente pentru avioanele Airbus si compania Vodochody, cea mai mare firma de profil din Cehia, ce produce mai multe tipuri de avioane, dintre care cele mai cunoscute sunt aparatele de vanatoare si antrenament L-29 Delfin, L-39 Albatros, L-59 Super Albatros si L-159 Alca.

Din randul potentialilor investitori romani, cei mai cunoscuti sunt INAV, companie controlata de omul de afaceri Stefan Vuza, specializata in proiectare in domeniul aviatiei si cercetare-dezvoltare in domeniul aeronauticii, dar si in echipamente pentru armata, si Pro Faur Invest, firma detinuta de oamenii de afaceri Marius si Emil Cristescu, prin firmele Begacom SA Timisoara si Faur SA Bucuresti.

"Investitori sunt multi, dar din pacate, multe dintre interesele lor sunt in stransa legatura cu afacerile cu statul, ca in cazul SAAB. Altele nu au experienta in constructia de aeronave", a delcarat liderul sindical Victor Peta.

Atanasiu: Societatea va continua sa produca avioane

Conducerea Autoritatii pentru Valorificarea Activelor Statului crede ca, indiferent cine va prelua compania, obiectul de activitate, reprezentat de productia de aeronave, va fi pastrat. Presedintele AVAS, Teodor Atanasiu a precizat, recent, ca privatizarea Avioane Craiova va tine cont de pretul pe pachetul de actiuni si de oferta investitionala a celor care vor sa investeasca la societatea craioveana.

"Ele sunt prezentate in caietul de sarcini. Ne asteptam ca la Craiova sa continue productia de avioane, ba mai mult, Craiova sa devina un centru regional de mentenanta pentru toate tipurile de avioane care zboara in sud-estul Europei", a mai afirmat Atanasiu.

AVAS a scos la vanzare intregul pachet de actiuni detinut la Avioane Craiova (741.339 actiuni), reprezentand 80,9778 % din capitalul social.

Programat initial pentru 17 aprilie, termenul de limita de depunere a ofertelor de cumparare a fost amanat pentru 9 mai. AVAS a luat aceasta decizie ca urmare a solicitarilor unor investitori interesati de realizarea unui audit propriu in societate, se precizeaza intr-un comunicat oficial al institutiei.

Constructorul de aeronave Avioane Craiova a afisat in 2007 o pierdere de 7 milioane lei (1,96 milioane euro), in timp ce afacerile companiei s-au comprimat cu 5,5% la 23,44 milioane lei (6,49 milioane euro), a potrivit unui comunicat al companiei trimis pietei Rasdaq.

[Le Clerk]

IAR Ghimbav is a civil planes producer, a military helicopter producer and a maintenance services provider for planes and helicopters.




The Money Channel
21/04/2008



AVAS vinde 64,89% din capitalul social IAR Ghimbav
Luni, 21 Aprilie 2008

AVAS a lansat astăzi la privatizare societatea IAR Ghimbav. Autoritatea pentru Valorificarea Activelor Statului vrea să vândă pachetul majoritar de 64,89% din capitalul social al companiei, specializată în construcţia şi repararea de aeronave şi nave.

Privatizarea se va realiza prin metoda negociere pe bază de oferte finale, îmbunătăţite şi irevocabile. Astfel, în evaluarea ofertelor depuse de investitori, 95% din punctajul final este reprezentat de preţul pe pachetul de acţiuni şi 5% de investiţiile pentru dezvoltare, a anunţat AVAS.

Investitorii interesaţi vor trebui totodată se depună un plan de afaceri pe 5 ani, care să conţină sursele de finanţare şi planul de dezvoltare a producţiei. AVAS aşteaptă ofertele investitorilor până pe 23 iunie, urmând ca documentele de participare să fie deschise a doua zi.

[nebunul]

:master:SAAB

[Le Clerk]

Me too :banana: for SAAB. I am curious though who will be the bidders for IAR Ghimbav.

[Le Clerk]

IAR Ghimbav is a civil planes producer, a military helicopter producer and a maintenance services provider for planes and helicopters.


^^

Business Standard
21/04/2008




AVAS launches the IAR Ghimbav privatization



The Authority for State Asset Recovery (AVAS) announced the sale of 12,250,488 shares or 64.89 percent of the share capital of aircraft producer IAR SA Ghimbav.

The privatization of IAR Ghimbav will be carried out through final, improved and irrevocable offer negotiation. AVAS submitted IAR SA Ghimbav privatization documentation to the Competition Council and the European Commission (EC). Consultations with the EC were intended to ensure that the privatization process is transparent, based on European legislation, and to ensure there is no suspicion of state assistance.

To evaluate offers submitted by investors, 95 percent of final points will be based on the share package price, and 5 percent on investments for development.

One essential condition to participate in the bidding is a 5-year investor business plan, which must include financing sources and a plan for the development of defense production. The final decision on the transaction rests with AVAS. (NewsIn)

[nebunul]

Some pictures from the Avioane Craiova plant and aircrafts (http://www.acv.ro/):


^^
Must be really nice to have such job … and design planes :bow: …
BTW Just watched it (last night :))

4hIJFBPyfqU

^^ http://en.wikipedia.org/wiki/Howard_Hughes

[Le Clerk]

Just an interesting info: Sibiu made exports worth 1 billion EUR in 2007 (mostly car components).

Source: http://www.sibianulonline.ro/saptamanal/produsele-vandute-afara-dezvolta-sibiul-2572991

[Le Clerk]

Business Standard
21/04/2008



IRS va produce vagoane pentru Touax
21 aprilie 2008

International Railway Systems, lider european in constructia de vagoane de marfa, si Grupul Touax (Franta) au incheiat un acord prin care IRS se angajează să producă şase mii de vagoane, în perioada 2009 - 2012, a anunţat astăzi IRS.

IRS, controlat de omul de afaceri Cristian Burci, are mai multe filiale, in 14 locatii diferite din Europa, in tari precum Cehia, Germania, Slovacia, Elvetia. In Romania, grupul IRS detine, printre altele, fabricile de vagoane de marfa Astra Arad, Meva Turnu-Severin si Romvag Caracal. IRS are o capacitate de productie de 5.500 de vagoane noi anual, dintr-o piata de 12.000 de vagoane la nivel european.

[Le Clerk]

International Railway Systems = IRS :nuts::lol:

[Le Clerk]

Business Standard
22/04/2008





Romtelecom to set up a 3G terrestrial network for Baneasa City


Romtelecom, the main Romanian telecommunications operator, has developed an integrated data-voice-video network as part of a pilot program for the Baneasa City housing and office complex, the largest Southeastern European real estate project, covering 1 percent of Bucharest.

“It all began as a result of our wish to set up an integrated IT&C network within this real estate development project, the former designed for long-term sustainability of increasing data traffic,” said Ionut Bodea, Vice President for Marketing of Baneasa Investments.

The investor was originally planning to administer the IT&C network itself, but eventually opted for a partnership with the most powerful and capable operator to set up and manage the infrastructure that will serve 5,000 homes (apartments and houses), 250,000 square meters of offices in 11 buildings, 450,000 sqm of commercial space, all covering a total 240 hectares.

The Next Generation Network will allow for fixed voice, internet and TV transmission through a single fiber optic cable. Romtelecom has allocated €400 million for this network.

[sanasa1]

Louis Vuitton arrives in June
Autor: Raluca Badea | Data: 22 Apr 2008 Cele mai citite articole:
Articole recente:
Louis Vuitton arrives in June - Astazi

Luxury fashion giant Louis Vuitton will open its Bucharest store in the first week of June, after an investment worth over one million euros. The store will have a retail area of around 130 square metres and will be located inside Marriott Hotel.

"We have been looking at Bucharest for along time, as it is one of the capitals in Eastern Europe, an area with very dynamic economies, which has significant growth rates," Philippe Schaus, international senior vice-president of Louis Vuitton told ZF. A Louis Vuitton team had travelled to Bucharest regularly

since 2006, meeting with real estate companies and trying to get to know the city in order to find the best place for the store, considering that, as far as the French company is concerned, location is of prime importance.

"We know that a number of Romanians have been buying Louis Vuitton products from other stores, such as in France, Switzerland and Austria, but we have waited until now because we could not find a suitable place," Schaus says, who after his visits to Bucharest expresses surprise at the lack of a designated shopping avenue like in the West. Schaus admits that a hotel is not an ideal long-term solution for Louis Vuitton stores, but for now it is the only appropriate location in a city where the luxury market is still young.

"We looked on Calea Victoriei and on other boulevards in Bucharest but chose the Marriott because it is a visually safe and controlled environment, where you know who your neighbours are and do not risk having a sex shop open next door."

However, Schaus does not rule out the possibility that Louis Vuitton will one day move onto Calea Victoriei, or downtown, if municipal authorities manage to develop the area- i.e. introduce car parks, better access, environment quality, control over which stores open in what area, etc.

"We are very pleased with our location for now, because we are not looking for quantity but quality in terms of traffic," Philippe Schaus says. "We opened in a lower traffic yet more elegant area in Budapest, too. For instance, when you go to India you don't look for a high-traffic area because that would be completely pointless."

The store in Bucharest will sell products from the Louis Vuitton range of leather items (with only slight differences compared with what one can find in London or Paris), whilst prices will be slightly higher than in Paris, but similar to those in neighbouring countries, Schaus explains, citing transport costs. Louis Vuitton will also offer its famous personalised service in Bucharest, where a customer can design their own travel trunk based on their requirements and tastes.

The item is then made at the workshop in Asnieres (a Parisian suburb) never to be duplicated, which thus warrants the product's uniqueness.

Besides leather goods, Louis Vuitton will also sell its range of footwear and accessories (belts, wallets) in Bucharest, but may expand its product range to jewellery or ready-to-wear collections in three to five years.

"Romanians have quite similar tastes to Italians or French, so we will introduce similar collections. On the other hand, I find Romanians are more fashion conscious than even Westerners, and have very modern tastes, they are not afraid of novelty," Schaus adds.

http://www.zf.ro/articol_169674/louis_vuitton_arrives_in_june.html

[Le Clerk]

Ziarul Financiar
22/04/2008


Saab se ofera sa integreze productia avionului Gripen in Romania


Firma suedeza Saab este pregatita sa ofere un offset generos care sa stimuleze economia romaneasca daca este selectata de statul roman sa furnizeze noile avioane multirol care sa inlocuiasca flota de avioane de vanatoare MiG-21 Lancer, au declarat astazi reprezentantii companiei.

"Tinta noastra este un offset care va stimula economia Romaniei, astfel incat cresterea economica sa compenseze costul achizitiei avioanelor," a spus Torbjorn Edberg, Senior Vice President al Saab International, la conferinta business-to-business oraganizata astazi la Hotel Parc.

Oficialii Saab au subliniat ca se are in vedere productia de avioane Gripen (productia de componente, asamblare, mentenanta) in Romania precum si investitii si transfer de tehnologie in industriile militare si civila.

Aceasta va aduce noi tehnologii in industria aeronautica romaneasca, va salva slujbele specialistilor romani si va ajuta firmele locale sa faca si exporturi, au declarat acestia.
Sursa: www.zf.ro/articol_169898

[new bulgaria]

Balkan Real Estate Is Europe's `Last Frontier,' Colliers Says:banana::banana::banana:

April 22 (Bloomberg) -- The Balkans is the only European
market where real-estate growth has not been hurt by turmoil in
global credit markets, said Philip Bay, regional director of
Colliers Southeast Europe.

``The Balkans are Europe's last frontier,'' Bay said in an
April 17 interview in Zagreb. ``When this becomes more like
Central or Eastern or Western Europe, it will have a moderate
growth rate, which is fine.''

Economies in Croatia, Romania and Bulgaria have grown at
twice the rate of the 15 countries sharing the euro as property
investors built hotels along the Croatian and Bulgarian coasts and
manufacturers expanded production in Romania and Bulgaria after
those two countries joined the European Union in 2007.

Colliers said in its annual global office real estate review
published this month that the U.S. subprime mortgage crisis, which
has made it harder to borrow money to finance property deals in
Western European and the U.S., won't have the same effect in
eastern Europe, the Middle East and South Africa.

``We have lots of big investment funds coming here which are
not necessarily dependent on the money from the City of London,''
Bay said.

A decrease in the number of investors in eastern European
markets has still left ``more capital chasing investment product
than available assets,'' it said in the report.

Russian, Middle Eastern Buyers

``There are some big Arab funds running around now,'' Bay
said. ``The Russians are big in Bulgaria and Montenegro and they
would like to buy here too. I think we'll have less of a downturn
if at all.''

Colliers said in its report it expects investment growth to
be higher this year than in 2007 in most eastern European, Middle
Eastern and African states. The company opened offices this year
in Albania and Montenegro.

A lack of available retail space in city centers in the
region is making companies such as clothing and apparel retailer
Zara enter markets in shopping malls instead of main shopping
streets, the company's usual practice, Bay said.

``That's a problem everywhere in the Balkans, every capital
city has an undersupply of High Street locations, there are no
vacancies, it's all full,'' Bay said.

Real estate markets in the Balkans have been hurt by weak
laws that often make it difficult to enforce contracts, Bay said.
As the markets mature and become more like those in central and
western Europe, he said the people who were attracted to the
Balkans will move on.

``All the yahoo-kind of entrepreneurs are going to go to
North Africa, because that will be the next kind of fun work,''
Bay said. ``When this is done, it's over. Then Europe is boring,
but most people like it that way.''

[Le Clerk]

^^ I think at the moment there is a buble coming in the residential and commercial real estate market. However, the industrial and office real estate markets may still grow, yet at a softer pace.

[RODINVEST]

Well IMO there is no buble in the residential but the buble is in the land price. You can not build nice developments with the CUT lower than 3 and sell them at 1.500 built sqm. When the land price is 1500.
Now I am having problems with calculations in obtainging 20% profitability at 1300 with land at 400/sqm.
So I hope that the land price will drop by 20%. Otherwise there will be a stand still. With the forecast construction prices I see no way but huge prices per built sqm. And with the national bank's intentions of raising the interest level I do not see any buyers for these appartments.

[Le Clerk]

^^ Well, if the buble is in the price of land, it'll surely reflect in the price of residential, don't you think?

[RODINVEST]

not with the existing developments( i know it does not make sense). I see prices in residential being at a stand still or rising somewere between 3-5 % in some areas. There is still huge demand and at this prices I think all projects will sell.

[zenden]

Romania faces biggest labour shortage in the world, Manpower survey says
Autor: Alina Pahoncia | Data: 24 Apr 2008
Romanian employers are facing the most significant shortage of labour in the world, reveals a survey by Manpower, the biggest global personnel leasing company, which analysed 32 countries. The local labour market is the global hotspot this year in terms of labour shortages, after 73% of companies stated that they were unable to find any skilled personnel for the positions they offer.

Romania, which was included in the Manpower survey for the first time, is now faced with the most pessimistic situation in terms of personnel shortage, which is even more serious considering almost half of the companies on the domestic market (43%) intend to hire more people over the coming period.

"The shortage of skills needs to be correlated
with the need for people. In terms of hiring plans we are number one in the EMEA (Europe, Middle East and Africa) region and number two in the world. When the need for more people increases, it becomes more difficult to find specialised people for the respective jobs," says Camelia Stanculescu, general manager of Manpower Romania.

Next in the ranking, ten percent behind, is Japan where 63% of employers say they are having trouble finding people, followed by Hong Kong - 61%, Singapore - 57% and Australia - 52%.

Almost one third of the employers in the world (31%) have trouble finding suitable candidates for their vacancies, but the good news is that this percentage is down almost 10% from last year. The most sought after employees on the domestic market are engineers, skilled workers and managers.

Engineers' salaries reached as much as over 1,000 euros a month over the last few years, and in certain fields, such as IT&C they may go up to as much as 2,500 euros. In terms of top management, a CEO of a multinational makes at least 10,000 euros per month.

As for skilled construction workers, they may earn up to 1,000 euros on Bucharest's construction sites. The shortage of personnel on the Romanian market has caused one of the highest increases in salaries in recent years, with the average growth on the entire market put at 25-30%.

"Salary raises will probably be in line with the performance and productivity of employees this year," Stanculescu says.

"We are at the beginning of the workforce deficit, at which time both the behaviour of employers and of employees changes. Yet such changes cannot happen really soon, especially since Romania comes after a time when we had workforce surplus," Stanculescu explains. The high personnel deficit on the domestic market can be explained by the fact that employers have been faced with the serious migration of workers over the last few years. Romania has been a real "nursery" of skills for companies abroad in various fields affected by shortages, and has provided engineers, workers and hospitality industry personnel for a long time, Stanescu explains.

Moreover, certain specialties have been dropped by the education system over the last few years and the young people's interest in engineering and crafts has waned.
It seems hard to belive:nuts:
Source:http://www.zf.ro/articol_170053/romania_faces_biggest_labour_shortage_in_the_world__manpower_survey_says.html

[joce23]

Rompetrol Refining Constanta invests 65m Euro in a new hydrogen factory
http://finchannel.com/index.php?option=com_content&task=view&id=11450&Itemid=47

Rompetrol Rafinare Constanţa, member of The Rompetrol Group, will assign until 2010 approximately 65 million euros for the construction of a new hydrogen plant on the Petromidia platform – investment which will determine the increase of the refinery’s hydrofining capacity, allowing the obtaining of solely Euro 5 products, in the conditions of increasing the processing capacity to 5 million tons per year.

“The new plant is part of the vast investment program undertaken by the refinery until 2010, which aims at a positioning among the first 25 refineries in Europe, as well as the reaching of a refining capacity of 5 million tons. At the same time, it will have an important role in passing the refinery’s fuel production from the Euro 4 and Euro 5 standards, exclusively to the Euro 5 ones” declares the general manager of Rompetrol Rafinare, Cosmin Turcu.

With a capacity of 40,000 cubic meters/hour, the new plant has an completion term of 30 months and will ensure 99.98% purity hydrogen to the technological process. At the same time, it will deliver for the platform internal use approximately 40 tons/hour high pressure steam.

Rominserv, general contractor of Rompetrol Group and of this project, has recently concluded a contract with Technip Netherlands Company for the supply of technology, know-how, engineering, equipment and technological machinery for the new hydrogen plant. Technip will also provide technical assistance in mounting, in testing and commissioning the plant (including performance tests).

Since taking over the refinery, in 2001, the Rompetrol Group assigned approximately 225 million dollars for making technological and environmental investments. Until 2010, the investments of Rompetrol Rafinare will amount to approximately 250 million dollars, these are going to be performed under conditions of maximum technological efficiency and environmental protection, according to the current international regulations.

Rompetrol Rafinare recorded last year a turnover of 3.2 billion USD*, increased with 24% compared to 2006, while the operational profit (EBITDA) increased with 16%, reaching 141 million USD. Also, the refinery’s actual processing capacity reached in 2007 to 3.8 million tons of raw material, compared to 1.15 million tons in 2000, before its takeover by the Rompetrol Group.

Argus Constanta forecasts 4 times higher profit
http://www.zf.ro/articol_169880/argus_constanta_forecasts_4_times_higher_profit.html

Argus, the Constanta-based vegetable oil producer, estimates gross profit worth 20.8 million RON (5.7 million euros) this year, almost four times higher than last year, according to the company's financial report. The company targets total revenues worth 222.1 million RON (61.3 million euros) this year, up 58.2% against 2007, while expenditures are expected to go up by around 49% and reach 201.3 million RON. In 2007, the company registered a profit after two consecutive years of losses, amid a 23.7% increase in revenues, to 140.3 million RON, as well as a slower increase in expenditures, from 8.8% to 135.1 million RON. The company's turnover also saw an increase, by 16%, to 126.2 million RON, although last year's drought reduced the amount of crops available. "Even though there was an acute shortage of raw material and we acquired it at much higher prices than in the last few years, after two years in which the market did not allow costs to be covered, 2007 enabled us to recoup some of the losses incurred during the two consecutive years," the company explained.


"Danube Summit 2008" in Constantza Port
http://www.portofconstantza.com/apmc/portal/vizstire.do?bifa=true&method=showNews&id_stire=10495&tip_stire=1

The Danube Summit Conference and Exhibition is returning to the Romanian Black Sea Port of Constantza - the city where the event first convened in June 2002. The 4th Danube Summit, which runs from 4-6 June 2008, will take place at the port’s new Cruise Terminal, in the heart of the Port Area.

Officially supported by the Romanian Ministry of Transport and hosted by Maritime Ports Administration and Constantza County Council, Constantza’s selection as the venue reflects its leading position as a transit and hub port for the Black Sea region. Container throughput over the past five years has been spectacular, with some 130,000 TEU handled in 2002, rising to a forecast of 2.0 million TEU in 2008. :cheers:

The most important infrastructure projects in the Danube region will be presented in the conference as well as the most up to date technologies concerning navigation, river port terminals construction and operation, connected logistic services and regular lines for transport on the Danube of both containers and bulk cargo. A major importance will be held by the development of the infrastructure of the Da-nube ports and their update to serve a continuously growing economy.

From this perspective, the sustainable development can not be conceived without the integration of transport projects and the development of the logistic zones, projects in which, the local communities and County Councils should play a dynamic role by attracting through specific facilities the developers of such projects as well as the structural EU funds. In this respect, for the first time in Romania, the PLATINA programme, the EU co-ordination platform for the implementation of the European Action Programme NAIADES, will be presented.

[tomis3]

European Commission raises 2008 GPD growth expectations to 6.2%...Romanian National Forecasting Institute maintains 6.5% target

http://www.standard.ro/articol_41585/ce_vede_crestere_economica_de_peste_6.html

[tomis3]

Voestalpine may build new factory outside the EU to avoid pollution fees

Grupul austriac Voestalpine, care a anuntat o investitie de circa 5 mld. euro intr-un combinat siderurgic in zona Marii Negre, va tine cont la alegerea amplasamentului de costurile presupuse de respectarea standardelor de protectie a mediului, iar daca acestea vor fi prea mari in tarile UE, investitia ar putea fi realizata in afara blocului comunitar.

http://www.zf.ro/articol_170372/costurile_de_mediu_decid_investitia_voestalpine.html

[Le Clerk]

Business Standard
29/04/2008




P&G to build a cosmetics factory in Romania

Consumer goods producer Procter&Gamble (P&G), one of the main players on the local market, plans to build a cosmetics factory in Romania. The investment is estimated at some €50 million, according to market sources.
This would be the first greenfield project of the U.S.-based company on the local market. P&G currently owns a detergent factory in the western city of Timisoara.

Company representatives said in January that P&G is interested in investing in consumer goods production in Romania.

The company recently started construction on a cosmetic factory in the city of Aleksandrow, Poland, with an investment worth €32 mln. The factory will operate as of 2009 and will have some 300 employees.

The local cosmetics market was worth some €700 million in 2007 and market players estimate it will reach €1 billion by 2010. The main players on the market are multinational companies Procter&Gamble, Unilever, Henkel, L’Oreal, Colgate-Palmolive, Beiersdorf Romania and local producers Farmec and ElmiProdfarm.

[Le Clerk]

Business Standard
30/04/2008




IKEA could choose Romania and Bulgaria over Poland for investment


Swedish furniture retailer IKEA could increase investments in Romania in Bulgaria by relocating €1.6 billion in scheduled investments for Poland, after legislation limiting the opening of large retail spaces has been passed.

“The law for large commercial centers is an insurmountable obstacle to build and increase commercial spaces. This is why the largest part of investments planned for this year – one in Lodz, worth €200 million, which would create 2,000 jobs and one in Poznan, worth €100 mln, with 1,000 jobs – was suspended. We could forego other investments planned for the following years, which means more money and jobs. The value of each investment is some €200 mln,” said Investments Manager at Inter IKEA Poland, Wojciech Dzwonkowski.

“If the law is not changed rapidly, IKEA could decide to relocate the capital in another country, like Romania or Bulgaria,” Dzwonkowski added.
IKEA currently owns one store in Romania.

[Le Clerk]

Business Standard
30/02/2008




Linde builds €100 mln worth of equipment for ArcelorMittal in Galati


German industrial gas supplier Linde signed an agreement with steel producer ArcelorMittal, including the construction of an air separation equipment and modernizing existing assets at the Galati steel plant, owned by the international producer. The project’s value exceeds €100 million.
The new air separation equipment will produce 2,000 tons of oxygen daily, along with smaller quantities of nitrogen and argon.

ArcelorMittal Galati officials plan to lease the oxygen factory for 20 years to an industrial gas company, to reduce costs and focus on investments in steel production, the main activity area. Furthermore, they intend to lease a lime factory owned by the steel plant.

[new bulgaria]

Business Standard
29/04/2008

How many of these do you have already? All P&G products in BG are made in RO.

[Le Clerk]

^^ AFAIK, one detergents factory in Timisoara. Interesting thing is while Colgate moved production from Romania to Poland and closed the Ploiesti factory, P&G intends to open a factory in Ploiesti. :nuts::cheers:

[Le Clerk]

Ziarul Financiar
01/05/2008


21 de malluri se mai deschid in 2008

21 de centre comerciale au programata deschiderea pana la sfarsitul acestui an, insemnand ca, in medie, la fiecare 11 zile va fi deschis cate un nou mall in Romania, urmand ca stocul de spatii comerciale moderne sa se dubleze.

Anul acesta au fost deschise pana in prezent trei malluri - Unirea Shopping Center Brasov, Shopping City Suceava si Baneasa Shopping City, dar restul inaugurarilor se vor concentra in a doua jumatate a anului, cand sunt programate 15 inaugurari.

Centrele comerciale vor fi inaugurate in toate zonele tarii, de la Constanta la Oradea Pentru varianta integrala, aboneaza-te

[sanasa1]

Primul showroom Ferrari din Romania

Forza Rossa, partenerul oficial Ferrari in Romania, va deschide marti primul showroom Ferrari din Romania, in zona aeroportului Otopeni. Showroom-ul este structurat pe trei niveluri, pe langa spatiul de expunere a modelelor din gama producatorului italian, fiind incluse un club si un garaj exclusiv pentru proprietarii de Ferrari din Romania. Reprezentantii Forza Rossa au declarat ca unitatea va fi inaugurata in prezenta presedintelui Ferrari, Luca Cordero di Montezelmo, insa nu au avansat niciun target de vanzari pentru piata locala. Anul trecut in Romania au fost inmatriculate 25 de modele Ferrari. La ceremonie va fi prezenta si echipa de Formula 1 a constructorului italian, care va veni la Bucuresti inainte de a participa la Grand Prix-ul Turciei de la Istanbul. Compania Forza Rossa este detinuta de holdingul Central Europe Finance din Luxemburg, cu o participatie de 47,5% si persoanele fizice Ion Bazac, cu 47,5% si Camelia Bazac, cu 5%. In vecinatatea showroom-ului Ferrari vor mai fi construite in perioada urmatoare inca 3 unitati de prezentare pentru automobile de lux. Astfel Radacini Motors planuieste in a doua jumatate a anului extinderea dealerului Cadillac pentru a include si brandul Corvette, iar Autoitalia va inaugura in februarie 2009 un showroom Infiniti. Alte doua dealershipuri de lux vor fi construite in 2009 in zona Pipera de catre Porsche Romania, importatorul oficial al Bentley si Lamborghini, investitia fiind estimata la 12 milioane de euro. Piata automobilelor de lux din Romania a fost estimata anul tecut la 18 milioane de euro, potrivit statisticilor Ministerului de Interne fiind inmatriculate mai mult de 120 de automobile cu un pret de peste 120.000 de euro.

http://www.zf.ro/articol_170817/primul_showroom_ferrari_din_romania.html

[Le Clerk]

February 2008

http://img231.imageshack.us/img231/9518/salariesbyeconomysectortv2.jpg (http://imageshack.us)
Curtesy of the Romanian Statistical Office


2500 LEI = 700 EUR
1500 LEI = 416 EUR
1000 LEI = 278 EUR
1393 LEI = 390 EUR

[Le Clerk]

February 2008

http://img363.imageshack.us/img363/7922/unemploymentrt1.jpg (http://imageshack.us)
Curtesy of the Romanian Statistical Office

[Le Clerk]

http://img210.imageshack.us/img210/6052/vital1lk2.jpg
http://img258.imageshack.us/img258/5061/vital2nq0.jpg
Curtesy of the Romanian Statistical Office

[Le Clerk]

http://img74.imageshack.us/img74/4403/spornh4.jpg (http://imageshack.us)
Curtesy of the Romanian Statistical Office

An interesting evolution of the natural increase: it's very unstable. It gets better during the warm seasons, and worse during the cold ones. Conclusion: people have more sexual activities in the cold seasons than in the warm ones. Green energy for heating purposes? :crazy: :lol:

[COTNARI]

http://img74.imageshack.us/img74/4403/spornh4.jpg (http://imageshack.us)
Curtesy of the Romanian Statistical Office

An interesting evolution of the natural increase: it's very unstable. It gets better during the warm seasons, and worse during the cold ones. Conclusion: people have more sexual activities in the cold seasons than in the warm ones. Green energy for heating purposes? :crazy: :lol:


or maybe it-s planning :)

[Le Clerk]

Business Standard
04/05/2008




Romania's gold and foreign currency reserve up to €27.2 bln


Romania's gold and foreign currency reserve increased in April by €70 million (0.26 percent), up to €27.2 billion, due to foreign currency reserve increase, which compensated the reduction of gold reserves values, according to Romania's National Bank (BNR).

Last month's advance comes after two consecutive months - February and March - when the reserves dropped from a maximum value of €27.62 billion reached in January.

By the end of March, BNR's foreign currency and gold reserves were worth €27.13 billion.

The €184 mln increase in foreign currency reserves was the result of capital inflow worth €740.98, representing "the modification of minimum foreign currency reserves made by credit institutions, supplying the Ministry of Economy and Finances account and European Commission's account," the release states.

Some €556.98 in exits mln were "installments and interest payments due in direct external public debt and guaranteed by the Ministry of Economy and Finances, payments to the European Commission, changes in the minimum foreign currency reserves made by credit institutions and others", the release added.

By the end of April, foreign currency reserves at BNR were worth €25.341 bln.

Gold reserves maintained their quantity at 103.7 tons, but decreased in value at €1.86 bln, due to international prices evolution.

Payments due in May to direct external public debt and guaranteed by the Ministry of Economy and Finances are worth €107.9 mln.

[Le Clerk]

Ziarul Financiar
02/05/2008


Circa 300.000 de angajati au salarii de peste 1.000 de euro
Aproape 300.000 de angajati au avut in luna octombrie a anului trecut un salariu mediu brut de peste 1.000 de euro, cei mai multi dintre acestia, respectiv 60% fiind barbati, potrivit datelor Institutului National de Statistica.

Din totalul salariatilor inregistrati in octombrie, aceasta grupa de castiguri reprezinta numai 6%, majoritatea angajatilor, peste 60%, fiind concentrati in zona castigurilor brute cuprinse intre 501 si 1.500 de lei (149 - 447 de euro).

Sursa: www.zf.ro/articol_171060

[tomis3]

Ziarul Financial
05/05/2008

Valoarea investitiilor straine directe ar putea urca in acest an la 7,8 miliarde de euro, de la 7,06 miliarde de euro in 2007, sustinute de atragerea de noi investitii in industrie si finalizarea unor privatizari, potrivit estimarilor Bancii Comerciale Romane (BCR).

"Avand in vedere valoarea ridicata inregistrata de investttiile straine directe in primele doua luni din acest an, de 1,2 miliarde euro, si perspectivele bune pentru restul anului, am revizuit in crestere estimarea pentru finalul anului la 7,8 miliarde euro. Estimarea se bazeaza si pe veniturile care se pot incasa in anul 2008 in urma privatizarii unui numar de aproximativ 60 de societati comerciale de stat", se spune intr-o analiza a BCR.

[sanasa1]

I couldnt find the appropriate thread, but I read on an aviation forum yesterday that TAROM bought another 4 ATR-500, the first one will arrive in 2 months. He didn't have a source.. *edit* probably with the money from the crashed 737 they opted for 4 atr's...

[tomis3]

Look at Tarom partying like it's 1959...I can't await until they re-introduce the biplane...jets are soooo overated.

[tomis3]

Ziarul Financiar

05/05/2008

Bugetul general consolidat a inregistrat, in primele trei luni, un excedent de 79,2 milioane lei (21,46 milioane euro), reprezentand 0,02% din PIB, potrivit datelor publicate astazi de Ministerul Economiei si Finantelor.

Veniturile realizate in primul trimestru au insumat 40,14 miliarde lei, in timp ce cheltuielile s-au situat la 40,06 miliarde de lei.

[Le Clerk]

^^ Slightly good news. ;) Does this mean that the Gov has registered an improved collection of taxes or it's because the economy grew? :cheers:

[tomis3]

^^ Slightly good news. ;) Does this mean that the Gov has registered an improved collection of taxes or it's because the economy grew? :cheers:

I don't expect this kind of detailed analysis from our press.

[tomis3]

http://datacenter.treasury.erstebank.com/charts/chart.chart?TIME_SPAN=6M&ID_TYPE_SIZE=1&ID_NOTATION=12433019&TYPE_CHART=&NO_DAYS_MA1=&COLOR_MA1=00FF00&NO_DAYS_MA2=&COLOR_MA2=FF0000&ID_NOTATION_COMP1=&COLOR_COMP1=0000FF&TYPE_IND1=&TYPE_IND2=&FROM=DD.MM.YYYY&TO=DD.MM.YYYY&LANG=en

[joce23]

Interesting article:

Eastern Europe Capitalizes on Growing EU Membership

Romania, Poland, and Slovakia share newfound optimism, untapped market potential, and a wealth of opportunity for U.S. exporters.


ROMANIA

If there’s one question that Cynthia Biggs, Commercial Attaché for the U.S. Commercial Service in Bucharest, Romania, gets more often than not, it’s ‘Why Romania?’

Last month’s NATO meeting in Romania, the largest NATO summit in history, may help get the word out, but Biggs points out that a recent ambassadorial ‘road show’ to the U.S. will likely answer that question for American companies a little better.

“We’re the best-kept secret in the EU,” she says, listing an impressive group of statistics—a population of over 22 million, eight consecutive years of GDP growth, low inflation and labor rates, and an educated workforce that posses excellent foreign language skills.

And, having joined the EU on January 1, 2007, together with Bulgaria, Romania is eligible for roughly 20 million euros in structural and cohesion funds from 2007 through 2013. While this is clearly a boon for the country, it also represents an opportunity for U.S. companies who can partner with a Romanian company, Biggs explains.

One company that has already gotten in on the action is San Francisco-based Bechtel Group, which is heading up construction of a $3.2 billion, 258-mile divided highway (the Autostrada Transilvania) that will become a vital link in the country’s infrastructure when it’s completed in 2011. The highway is significant on several fronts. For starters, it will nearly halve the driving time from Cluj-Napoca (an industrial hub in the center of Romania) to Vienna, which is a major gateway to Western Europe. Currently, the trip takes about 9 hours.

The project is also laying the groundwork for major foreign investments. Nokia already announced the closing of a German factory in favor of relocating it to Cluj, says Biggs, while St. Louis-based Emerson Electric has plans to build a major manufacturing facility there too. “It’s a win-win for everyone,” she says. “All of the earth-moving equipment is coming from Caterpillar and you’ve got a huge transfer of knowledge. There are also about 3,200 people working on the project, most of them Romanians.”

While the project itself may not have figured prominently in Ford Motor’s decision to take over Romania’s Automobile Craiova plant in March, there’s an obvious synergy to the development. According to John Fleming, president of Ford of Europe, the company’s $1 billion investment would position Romania as the biggest auto producer in southeastern Europe. The first vehicles are expected to roll off the assembly line in 2009, and beginning in 2010, Ford will manufacture a small, spacious, and inexpensive car that will only be made in Romania. In four years’ time, Ford expects to produce 300,000 vehicles annually.

Biggs says there will be substantial benefits for other companies as well, considering that Ford will continue to procure auto parts and components from U.S. manufacturers.

Although the road and rail links are in need of upgrading, the country’s Port of Constantza on the Black Sea is a modern facility that some say is on its way to becoming the ‘Rotterdam of Eastern Europe.’ The claim may not be too far-fetched given that Constantza ranks as the largest port on the Black Sea and handles millions of tons annually of coal, oil, metals, grain and other goods, both bulk and containerized. The port also enjoys a strategic location between Western Europe and the former Communist bloc and Turkey.

Biggs says the country’s three international airports are also fairly modern, but that with the EU accession, they are undergoing significant upgrades to comply with international safety and security regulations.

Another sector that is very attractive to U.S. exporters and investors is Information Technology. “About 85 percent of the products on the market are of U.S. origin,” notes Biggs. Indeed, Romania’s potential in this sector was not lost on one of the world’s most well known leaders in the field—Bill Gates. Last year, Gates traveled to Romania to inaugurate Microsoft’s Global Technical Support Centre in Bucharest. “When asked why he chose Romania, Gates said the country had a great geographic location, and a workforce that possessed great IT skills and language skills,” says Biggs. “It’s interesting to note that there are over 300 Romanians working on Microsoft’s campus in Seattle,” she adds. “This is quite a testament to Romanians’ IT skills. Oracle, IBM, you name them, they’re here.”

In fact, the country was also chosen to receive a grant from the Bill & Melinda Gates Foundation, which will provide Romanians with free access to computers, the Internet, and technology training in public libraries and reading rooms. According to the Foundation, only 20 percent of Romanians have Internet connections at home—and most people with access live in cities. Biggs says the grant will also have positive effects for Romanian businesses.

Biggs offers some advice for U.S. companies interested in Romania. “Start with your local Export Assistance Center (the U.S. Commercial Services’ network of trade specialists located in more than 100 U.S. cities and over 80 countries worldwide). You can access a wealth of information and intelligence on a variety of markets. We’ve just uploaded the Country Commercial Guides to the Web site, too. These are in-depth market research reports that are updated each year. You can also find out about the Gold Key matchmaking service or participate on a trade mission. There are so many resources available to U.S. companies.”

... http://www.worldtrademag.com/Articles/Feature_Article/BNP_GUID_9-5-2006_A_10000000000000327142

[Le Clerk]

Hotnews.ro
05/05/2008

Citizens in Bucharest, Cluj and Sibiu - best payed Romanians


Romania's National Statistics Institute released a report which shows that best payed Romanians in the country live in Bucharest and the surrounding Ilfov county and the cities of Cluj and Sibiu in Central Romania. One reason for this cluster is that foreign investments are concentrated in these areas.

On the other hand, worst payed Romanians live in Harghita and Maramures, in North Romania where salaries are almost half as compared to those in Bucharest. These are closely followed by Suceava and Vaslui in North East Romania, considered one of the poorest regions in the EU.

Sibiu made great leaps from 3-4 years ago, when it had very poor salaries. I am also amazed to see Sibiu and Cluj before Timisoara. :uh:

[Le Clerk]

Business Standard
06/05/2008



Oracle President begins European tour in Romania


The President of the Oracle business software producer, Charles Phillips, is currently visiting Romania, which proves he considers this country an important market, according to Oracle Romania’s General Manager, Sorin Mindrutescu. This is the first stop in Phillips’ European business tour.
Phillips was to meet Prime Minister Calin Popescu Tariceanu on Tuesday.

Oracle has been operating in Romania since 1992, and currently has 1,300 employees locally. Among its clients are both major Romanian companies, such as Banca Comerciala Romana, Banca Transilvania, Romtelecom, and Rompetrol, and several ministries.

[Le Clerk]

Business Standard
06/05/2008




Vosganian: Previziunile, dupa primul trimestru, indica o crestere economica de 7% in 2008



Pe primul trimestru al anului, previziunile indica o crestere economica de 7%, iar prognoza privind cresterea PIB-ului cu 6,5%, in acest an, nu trebuie schimbata, a declarat, marti, ministrul Economiei si Finantelor, Varujan Vosganian, cu ocazia lansarii noii imagini a CEC.

"Pe primul trimestru al acestui an, previziunile arata ca avem o crestere economica de 7 procente si, in ciuda unor evaluari pesimiste, nu gasesc inca indiciile ca, fata de prognoza de 6,5%, ar trebui sa revizuim tinta de crestere a PIB", a declarat Vosganian.

Romania a avut, in primul trimestru din acest an, un buget general consolidat relativ echilibrat, pe un usor excedent, de 0,02% din PIB, insa bugetul de stat a inregistrat un deficit de 0,94% din PIB, in conditiile in care Guvernul si-a propus, pentru 2008, un deficit bugetar de 2,7% din PIB.

Pentru ca veniturile, in ianuarie-martie 2008, au fost de 14,96 miliarde lei, iar cheltuielile, de 19,10 miliarde lei, s-a creat un deficit al bugetului de stat, pe primul trimestru, de 4,14 miliarde lei, reprezentand aproximativ 1% din PIB, potrivit datelor publicate de ministerul Economiei si Finantelor. Asta in conditiile in care Guvernul si-a propus, pentru acest an, un deficit bugetar de 2,7% din produsul intern brut (PIB), fata de cel de 2,4% de anul trecut.

Pe de alta parte, prin excedentele inregistrate de bugetele locale, de cel al asigurarilor sociale de stat, asigurari pentru somaj si de sanatate, bugetul general consolidat, pe primul trimestru al acestui an, este unul echilibrat, cu un usor excedent de 0,02% din PIB, adica 79,2 milioane lei. Veniturile bugetului general consolidat au insumat 40,14 miliarde lei, adica 9,1% din PIB, iar cheltuieile au insumat 40,06 miliarde lei.

Dupa primele doua luni ale acestui an, bugetul general consolidat avea un excedent de circa 0,2% din PIB-ul estimat pentru acest an. Pentru atingerea tintei de deficit bugetar in 2008, ministrul Vosganian a inaintat prim-ministrului Tariceanu un plan de reducere a cheltuielilor publice, pentru ca dezechilibrul conturilor publice sa fie redus.

NewsIn

[tomis3]

^^
Ziarul Financiar

06/05/2008

"Pe primul trimestru, previziunile arata ca am avut o crestere economica de 7%; in ciuda unor estimari pesimiste, nu vedem acum motive care sa ne determine sa credem ca trebuie sa revizuim tinta de crestere a PIB cu 6% in 2008", a declarat ministrul economiei si finantelor, Varujan Vosganian.

Ministrul a subliniat ca aceasta crestere a avut loc pe fondul unei executii bugetare precaute, in conditiile in care, dupa primele patru luni, bugetul de stat va continua sa inregistreze un excedent usor.

[Le Clerk]

I am surprised a bit by the strong economic growth in Q1, while IMF was giving very pessimistic estimates (5.5%). I hope this trend is preserved throughout the year. :cheers:

[Le Clerk]

Business Standard
06/05/2008



Heineken to invest €50 mln in Romania


Heineken, the main beer producer locally, plans to invest some €50 million this year to increase its production capacity, launch new packaging, increase assets and add new market strategies, according to company officials.

Last year, the local subsidiary of Dutch Heineken group invested some €40 million locally.

The company posted some €210 million in turnover in 2007, 18 percent higher year-on-year, and €26.8 mln in profit, according to company data.

The local beer market amounted to some €1 billion last year and is expected to grow 5 percent this year, producers say.

[Le Clerk]

Oracle has 14 centers in Romania with over 1300 employees.


Business Standard
07/05/2008






Nr. 2 Oracle: Romania este o zona strategica

Romania este a patra piata ca marime, din punct de vedere al numarului de angajati, din Europa si este o zona strategica pentru corporatia Oracle, a declarat pentru Business Standard Charles Phillips, al doilea lider al Oracle Corporation, dupa Larry Ellisson, aflat in vizita in Romania.

“Romania este o piata foarte importanta pentru corporatia Oracle, este a patra piata din Europa din punct de vedere al numarului de angajati, iar numarul acestora creste repede. Romania a devenit o zona strategica pentru noi, astfel ca am facut investitii masive in centrele de aici care acopera diverse zone de servicii”, a declarat Charles Phillips, presedintele Oracle, unul dintre cei mai mari producatori de software de business la nivel global.
Romania este prima etapa a turneului efectuat de Charles Phillips in Europa. “Acest lucru subliniaza importanta pe care Oracle o da pietei romanesti”, a declarat Sorin Mindrutescu, director general Oracle Romania. Compania are, in cele 14 centre deschise pe piata locala, peste 1.300 de angajati.

Charles Phillips este presedintele Oracle Corporation si face parte din bordul director al companiei din ianuarie 2004. El este responsabil de operatiunile globale ale Oracle, incluzand consultanta, marketing, vanzari, parteneriate, precum si strategii corporatiste. O directie strategica a businessului Oracle in Romania, pentru urmatorii ani, o reprezinta solutiile de management al relatiilor cu clientii (CRM).

“Ne asteptam la o crestere chiar de peste 100% a zonei de CRM in afacerea Oracle din Romania. In acest moment, ponderea acestui tip de solutii in veniturile provenite din aplicatii ale companiei este de aproximativ 10%, dar ne asteptam ca in urmatorii doi ani aceasta sa ajunga la 20-25%”, a declarat Alexandr Pastor, Applications Sales Director Oracle Romania.

Conform studiului EAS realizat de compania de cercetare a pietei International Data Corporation (IDC), piata romaneasca de CRM este de 3,63 milioane de dolari, ocupand 6,8% din piata totala de aplicatii. Solutiile pentru managementul vanzarilor au atins o valoare de 2,53 milioane de dolari si sunt urmate de solutiile pentru call-center in valoare de 0,71 milioane de dolari, aplicatii de marketing la 0,34 milioane de dolari si service pentru clienti la 0,05 milioane de dolari. “Daca ne gandim la ce sisteme de CRM sunt in momentul acesta in banci si chiar si in multe dintre companiile de telecom de pe piata, ne dam seama ca avem o lipsa mare, ca ei trebuie sa apese pe acceleratie daca vor sa ramana competitivi. In aceste doua domenii CRM-ul este esential”, a adaugat Alexandr Pastor. Potrivit acestuia, daca pana acum companiile romanesti au investit in solutii de management al afacerii (ERP - Enterprise Resource Planning), in continuare lucrurile se vor schimba astfel ca bugetele vor fi indreptate spre solutiile de management al relatiei cu clientii.

In 2008, Oracle Romania isi concentreaza strategia pe sectorul public, pe cel al telecomunicatiilor si pe cel al serviciilor financiare (banci si asigurari), zone care vor inre-gistra o crestere semnificativa pe piata romaneasca de software si servicii informatice.

“Nu putem prevedea anumite lucruri, dar daca vorbim de industria financiar bancara care mie imi este foarte apropiata, vedem ce se intampla pe pietele internationale: vorbim de criza subprime, frauda din Franta. S-au pierdut zeci si sute de milioane de dolari printr-un management deficitar al riscului”, a declarat anterior Sorin Mindrutescu, director general Oracle Romania.

Potrivit acestuia, o alta provocare cu care companiile din Romania se vor confrunta este aceea a accesarii fondurilor europene.

Sorin Mindrutescu ocupa pozitia de director general al Oracle Romania din februarie 2008, cand Stefan Cojanu, cel care a fost timp de 14 ani in fruntea filialei din Romania a gigantului american, s-a retras. In ceea ce priveste strategia pe care o va avea in vedere pentru filiala romaneasca a producatorului de software, Sorin Mindrutescu spune ca aceasta nu se va schimba in mod radical. “Nu este neaparat nevoie de o schimbare de strategie. Fiind vorba despre o organizatie atat de mare, vorbim in mod deosebit de gasirea gradului de flexibilitate necesar pentru a aborda o piata in continua miscare”, a declarat Sorin Mindrutescu.

Cu afaceri de 33,7 milioane de euro in 2006, Oracle Romania este al doilea mare jucator pe piata romaneasca de software de business, principalul sau competitor fiind compania germana SAP.

Oracle a raportat, pe trimestrul trei al anului financiar 2008, venituri in crestere cu 21%, pana la valoarea de 5,3 miliarde dolari, in timp ce profitul s-a majorat cu 30% fata de aceeasi perioada a anului trecut, la 1,3 miliarde dolari. Veniturile din software au crescut cu 21%, la 4,2 miliarde dolari, in timp ce veniturile din licentele noi de software s-au majorat cu 16%, atingand 1,6 miliarde dolari. Veniturile din licentele noi pentru baze de date si middleware au crescut cu 20%, iar veniturile din licentele noi pentru aplicatii au crescut cu 7%. Veniturile din servicii au crescut cu 21% si au atins valoarea de 1,1 miliarde dolari

[Le Clerk]

Ziarul Financiar
07/05/2008



Topul oraselor cu cele mai mari bugete

In topul celor mai bogate zece orase ale Romaniei conduce capitala Bucuresti (* inclusiv bugetele sectoarelor), urmata de falanga vestica: Timisoara, Cluj si Arad, potrivit bugetelor de cheltuieli adoptate de Consiliile Locale. Acestora le urmeaza Galati, Iasi, Brasov, Craiova, Constanta si Ploiesti.

Practic, bugetele celor mai bogate orase din Romania s-au dublat in ultimii patru ani, in mare parte gratie investitiilor, ca de pilda in cazul Aradului, oras cu o populatie nu foarte mare, dar aflat intre administratiile fruntase. Principalele zece orase si-au bugetat in 2008 cheltuieli de aproximativ 4 miliarde de euro. Suma tuturor bugetelor locale este, potrivit Ministerului Economiei si Finantelor, de aproximativ 10 mld. euro pentru 2008, adica jumatate fata de bugetul de stat.


Sursa: www.zf.ro/articol_171292

[Le Clerk]

The MOney Channel
07/05/2008




Terenurile de pe malurile canalelor navigabile pot fi concesionate pentru 49 de ani
Miercuri, 07 Mai 2008



Compania Naţională Administraţia Canalelor Navigabile Constanţa (CN ACN) va putea pune la dispoziţia investitorilor terenurile de pe malurile canalelor navigabile pentru o perioadă de 49 de ani, transmite corespondentul NewsIn.



Şeful CN ACN, Ovidiu Cupşa, a declarat, miercuri, că, din această lună, intră în vigoare noul contract de concesiune încheiat în aprilie cu Ministerul Transporturilor, potrivit căruia se pot subconcesiona bunurile care fac obiectul concesiunii, cu respectarea prevederilor OUG 54/2006, Legii 22/2007 şi HG 80/2008.




^^ Vreo legatura cu Voestalpine?

[RODINVEST]

This basicly sais that the average price per home should not be more than 6 ot 7 times the GDP per capita. If the price is bigger then you should have a bubble.
In this case we are in a bubble.

Rezumat:
S-a incetatenit ideea ca investitiile imobiliare sunt ale celor care nu se pricep la economie, care nu sunt deprinsi cu subtilitatile lumii finantelor, in timp ce investitiile pe piata de capital sunt apanajul persoanelor avizate, cu un alt nivel de pregatire si informare, eventual pline de ponturi si de informatii confidentiale. Lucrurile nu stau nici pe departe astfel. Exista o multitudine de metode de evaluare a unei companii astfel incat sa ne dam seama daca achizitionarea actiunilor acestora pe anumite paliere de pret reprezinta o investitie profitabila sau, dimpotriva, una riscanta, respectivele titluri fiind supraevaluate. Ce sa mai spunem de abundenta semnalelor tehnice care ne ofera indicatii de intrare sau de iesire pe diversi emitenti... Din contra, lucrurile sunt mult mai obscure pe piata imobiliara, unde mijloacele de analiza fundamentala sunt extrem de reduse. Mersul greoi al acesteia si lichiditatea scazuta, precum si imposibilitatea utilizarii analizei tehnice ne arunca intr-un necunoscut unde informatia privilegiata are o pondere infinit mai mare decat pe piata actiunilor. In plus, companiile tranzactionate la bursa, conducandu-se dupa legile profitului si confruntandu-se intr-o piata concurentiala, au o evolutie oarecum predictibila. Nu acelasi lucru il putem spune despre piata imobiliara, care se dezvolta cu banii viitorului, care lucreaza cu perspective mult mai indelungate si mai greu controlabile, care poate creste intr-un mod nesustenabil gratie maiestriei neintrecute a bancilor in a face scamatorii cu bani ireali ce sa apara si sa se inmulteasca exponential in mod miraculos.
De aici si dificultatea in a discerne cand este oportuna achizitionarea unei proprietati. Romania nu a cunoscut, pana acum, spargerea unei bule imobiliare, intrucat nici inainte de razboi nu a existat o piata propriu-zisa si nici in perioada socialista nu putea fi vorba de asa ceva. Iar de aproape 10 ani, de cand s-a conturat o piata imobiliara autohtona, nu am cunoscut decat un puternic trend ascendent. Cu siguranta, vom ajunge sa pricepem ca si piata imobiliara are doua sensuri, asa cum au aflat de curand si investitorii la bursa, obisnuiti cu ideea cresterilor fara sfarsit. Pe alte piete, care s-au mai confruntat cu astfel de bule imobiliare, analistii au putut identifica unele modalitati de a estima nivelul de supraevaluare al activelor si al diverselor categorii de proprietati. Una dintre acestea este raportarea la produsul intern brut pe cap de locuitor. Daca valorile de tranzactionare pe piata imobiliara au depasit cu mult veniturile populatiei este usor de intrevazut ca, in scurt timp, bancile vor atinge unele limite in ce priveste nivelul de creditare, iar cumparatorii se vor imputina, in consecinta. Observatiile asupra crizelor precedente ne avertizeaza asupra faptului ca atunci cand pretul mediu al locuintelor depaseste de 6 sau 7 ori valoarea PIB pe cap de locuitor, este semnalul ca s-a intrat deja intr-o zona de bubble.
Si acum sa revenim la situatia Romaniei. Conform datelor furnizate in cursul lunii martie de Institutul National de Statistica (INS), in 2007 PIB nominal al Romaniei s-a cifrat la 121 miliarde euro, respectiv 5.620 euro per capita. Si acum sa facem inmultirea: 5.620x7=39.340 de euro. 39.340 de euro! Atat ar trebui sa fie pretul mediu al locuintelor din Romania si acesta ar fi inca socotit drept supraevaluat. Dar sa admitem ca piata anticipeaza. Suntem o economie emergenta si PIB se va majora intr-un ritm accelerat in urmatorii ani, cu mult peste media din tarile dezvoltate. Potrivit estimarilor avansate de Comisia Nationala de Prognoza (CNP) in luna martie a.c., PIB-ul Romaniei ar ajunge, in 2013, la 258,7 miliarde euro. Cifra preconizata este optimista, daca ne gandim ca in urma cu un an INS si CNP indicau pentru acelasi an 2013 un PIB de 185,7 miliarde euro. Dar sa admitem ultimele estimari. Luand in calcul o populatie de 21 milioane de locuitori, ajungem la un PIB per capita de 12.300 de euro. Pare rezonabil daca ne gandim ca, in ultimii ani, PIB-ul Republicii Cehe s-a invartit in jurul valorii de 10.000 de euro pe locuitor, iar cel al Poloniei a fost de 7.000 de euro in 2006. Sa facem din nou inmultirea: 12.300x7=86.100. Deci, iarasi, in momentul in care pretul mediu al locuintelor ar ajunge la 86.100 de euro in 2013 ar trebui sa consideram ca este bubble. Si atunci sa ne dam seama cat de aberante sunt exemplele pe care unii smecheri din imobiliare ni le servesc atunci cand compara pretul metrului patrat din Romania cu cel din Spania! Asta in conditiile in care PIB-ul per capita depaseste acolo 22.000 de euro. Ce sa mai spunem de Germania, unde acesta este de 27.000 euro. Si, in Germania, la multe categorii de proprietati imobiliare, preturile sunt mai scazute decat cele de aici. Dar probabil ca, fiind mult prea ocupati cu munca, nemtii au ramas in urma cu escaladarea speculativa a preturilor.
Sub acest aspect, al raportului dintre pretul mediu al locuintelor si PIB-ul per capita, aproape toate tarile dezvoltate se afla intr-o zona de bubble. Este si motivul pentru care, in Europa, s-au consemnat, in ultimele luni, importante scaderi pe acest segment. Paradoxal, dar tara in care pretul mediu al locuintelor nu a depasit acest prag maximal a fost chiar Statele Unite. Da, desi am avut criza subprime, desi s-au prabusit fonduri, desi s-au inregistrat mii de falimente in real estate, piata din SUA nu a escaladat respectivul indicator. Fiind cea mai matura, cea mai concurentiala, dominata de investitori institutionali, piata americana nu a depasit acest prag. Practic, topul a fost consemnat in toamna anului 2005, cand pretul mediu al caselor s-a apropiat de 230.000 USD. Si acum sa facem un calcul: PIB-ul SUA din acel an (40.000 USD)x6 (limita minima)=240.000 USD. Indicele mediu de achizitionare a unei locuinte nu a depasit acest plafon! Da, SUA se confrunta cu marea criza a subprimelor care a bulversat intregul sistem financiar mondial, dar nu a escaladat bula imobiliara dincolo de aceasta limita. Daca urmarim aceasta paradigma, ne putem da seama de amploarea bulei speculative de pe piata imobiliara romaneasca. Ganditi-va! 86.100 de euro, un pret mare pentru 2013.
Si este vorba de pretul mediu al locuintelor, care include atat garsonierele din Petrosani, cat si casele din Corbeanca. Desigur, reprezentantii companiilor de real estate se vor grabi sa spuna: piata e diversificata; ce legatura are o garsoniera intr-un bloc ceausist cu o vila in Cartierul Francez? Raspuns: exact aceeasi legatura pe care o are o casa de vacanta din Malibu cu locuinta unui fermier din Dakota de Nord sau resedinta unui actor din Beverly Hills cu un apartament dintr-un cartier "de culoare" din Philadelphia. Toate aceste tipuri de proprietati sunt achizitionate cu banii bancilor si trebuie sa-si aiba corespondenta in productia de bunuri si servicii a economiei locale sau in capitalul existent disponibilizat in acest sens. In functie de structura sociala si de ponderea cererii, bineinteles, evolutiile sunt diferite pentru diversele categorii de proprietati. Dar banii alocati pentru achizitiile imobiliare sunt aceiasi. Este si motivul pentru care Rezerva Federala Americana ia in calcul, pentru prognozele pe care le realizeaza, acest pret mediu al caselor si nu tot felul de analize realizate de reprezentantii sectorului de real estate. La noi nu exista, din pacate, un astfel de indicator, piata de profil fiind total lipsita de transparenta. Dar chiar si asa, atunci cand ne trezim in fata cu o oferta de locuinta, nu trebuie sa uitam sa facem un calcul: de cate ori se include PIB-ul Romaniei pe cap de locuitor in respectivul pret.

[Le Clerk]

UK Group Pro Auto industries is to invest EUR 100 million into a special steels mill in Giurgiu, South Romania. The steel mill is unique in CEE and produces special steels for aeronautics and space, wind power, car, machinery, and oil and gas industries. The mill will be operational in February next year.

UK Group has made another car parts investment in Romania this year.

Business Standard
09/05/2008



Investitie de peste 100 de mil. euro intr-o otelarie de aliaje speciale la Giurgiu


Grupul Pro Auto Industries intentioneaza sa investeasca, in parteneriat cu alte companii, cel putin 100 de milioane de euro in urmatorii 3-4 ani pentru utilarea si cresterea capacitatii de productie a unei otelarii pe care o detine in Giurgiu la peste 30.000 de tone anual, a declarat pentru Business Standard presedintele companiei, Laurentiu Tigau.

Otelaria, singura de acest fel din Europa Centrala si de Est, produce aliaje speciale pentru industriile aeronautica si aerospatiala, eoliana, auto, productia de masini-unelte, precum si pentru sectorul petrol si gaze.

“Acum realizam probe tehnologice la cald si la rece si vom porni instalatiile cel mai tarziu in luna februarie a anului viitor. Initial, capacitatea anuala de productie va fi de 15.600 de tone de piese prelucrate, urmand ca, in urmatorii ani, sa o dublam, in paralel cu investitiile in utilaje pentru prelucrarea de produse cu o valoare adaugata mai mare”, a spus Tigau. El a aratat ca, desi, capacitatea de productie va fi semnificativ mai mare, in primul an de activitate nu vor fi realizate mai mult de 6.000 de tone de piese prelucrate din aliaje speciale.

Investitiile vizeaza, potrivit reprezentantului companiei, achizitia de prese specializate, a unor forje de deformare plastica si a unor cuptoare pentru pulberi de inductie in vid care vor costa circa 50 de milioane de euro, precum si constructia unei centrale cogenerative pentru uzul propriu cu o putere instalata de 20 de megawati, care va presupune investitii de circa 30 de milioane de euro. Otelaria va realiza subansamble prin prelucrare mecanica, tratare termica, sinterizare (presarea de pulberi amestecate si calirea reperului pentru realizarea de piese foarte rezistente).

Reprezentantul Pro Auto a precizat ca exista o cerere foarte mare pe pietele externe pentru produsele din aliaje speciale pe fondul dezvoltarii tehnologice din Asia si Europa Occidentala in dezacord cu capacitatile de productie existente in tarile din vestul Europei.

“Avem contracte cu rezervare de productie pentru intreaga capacitate cu firme dinafara tarii. Cererea este atat de mare incat companiile incheie contracte pentru o anumita cantitate de piese prelucrate din aliaje speciale care le vor fi livrate abia peste doi ani cu optiunea ca in aceasta cantitate vor fi incluse subansamble cu un grad de prelucrare mai mare, pe masura ce vom amenaja instalatiile necesare”, a mai spus Tigau.

El a adaugat ca, avand in vedere cererea foarte mare, compania negociaza in prezent cu unii beneficiari ai produselor care intentioneaza sa investeasca in modernizarea otelariei.

“Situatia este foarte stranie. Ne intalnim la jumatatea lunii mai cu doi mari funizori de echipamente, companii cu afaceri de miliarde de euro, cu care vrem sa incheiem contracte de retehnologizare a otelariei, companii care sunt, in acelasi timp, si potentiali clienti pentru subansamble prelucrate de noi”, a mai spus oficialul Pro Auto, care nu a dorit sa dezvaluie numele celor doua companii. El a precizat insa ca la negocieri participa mai multe firme din Germania si marea Britanie.

Piata din Romania are un potential foarte mare, in opinia oficialului, pentru ca, in prezent, necesarul de piese din aliaje speciale este foarte mare iar marfa provine exclusiv din export, in special din Germania, cu precomenzi care se realizeaza si cu mai bine de doi ani inainte.

Pro Auto Industries importa marca britanica de automobile Morgan. Compania activeaza si in productia de elemente pe baza de cauciuc odata cu finalizarea, in acest an, la Fundulea, a unei fabrici care va necesita, in total, investitii de circa sapte milioane de euro. Fabrica, amplasata pe o suprafata de circa patru hectare, realizeaza, in prezent, pavele, placi din mixtura de bitum si folii de cauciuc in urma unei investitii care s-a ridicat la circa patru milioane de euro.

[tomis3]

This basicly sais that the average price per home should not be more than 6 ot 7 times the GDP per capita. If the price is bigger then you should have a bubble.
In this case we are in a bubble.

Rezumat:
S-a incetatenit ideea ca investitiile imobiliare sunt ale celor care nu se pricep la economie, care nu sunt deprinsi cu subtilitatile lumii finantelor, in timp ce investitiile pe piata de capital sunt apanajul persoanelor avizate, cu un alt nivel de pregatire si informare, eventual pline de ponturi si de informatii confidentiale. Lucrurile nu stau nici pe departe astfel................................... Este si motivul pentru care Rezerva Federala Americana ia in calcul, pentru prognozele pe care le realizeaza, acest pret mediu al caselor si nu tot felul de analize realizate de reprezentantii sectorului de real estate. La noi nu exista, din pacate, un astfel de indicator, piata de profil fiind total lipsita de transparenta. Dar chiar si asa, atunci cand ne trezim in fata cu o oferta de locuinta, nu trebuie sa uitam sa facem un calcul: de cate ori se include PIB-ul Romaniei pe cap de locuitor in respectivul pret.


This dude has no idea what he's talking about....and his writing style is absolutely pathetic.

[Cosmin]

Where's that article from?:? RODINVEST, please always indicate your sources.

[tomis3]

Where's that article from?:? RODINVEST, please always indicate your sources.

Sounds like another "Ziua" piece. :lol:

[Le Clerk]

Ziua, anybody said "ZIUA"?? :guns1: :lol:

[Cosmin]

Not Ziua again. Cei de la Ziua sunt prosti ca noaptea!:runaway:

[tomis3]

Not Ziua again. Cei de la Ziua sunt prosti ca noaptea!:runaway:

Am glumit...nu stiu de unde provine articolul....dar e lung si de proasta calitate..Ziua's specialty.

[Cosmin]

O cautare pe Google arata ca articolul e din Curierul National (http://www.curierulnational.ro/Opinii/2008-05-08/PIB-ul+inteapa+bula+imobiliara) si e scris de un nenea pe nume Adrian Panaite.:)

Initial am crezut ca in momentul postarii, cumva, s-au dus toate alineatele, dar vad ca asa scrie omu' asta.:puke:

[tomis3]

O cautare pe Google arata ca articolul e din Curierul National (http://www.curierulnational.ro/Opinii/2008-05-08/PIB-ul+inteapa+bula+imobiliara) si e scris de un nenea pe nume Adrian Panaite.:)

Initial am crezut ca in momentul postarii, cumva, s-au dus toate alineatele, dar vad ca asa scrie omu' asta.:puke:

E sarac rau la minte Panaite asta...in primul rand, tre sa stapanesti bine ideea de paragraf si apoi sa te dai la chestii de genul, PIB, actiuni, piata ipotecara din SUA, Germania, Romania, etc.

[Cosmin]

daceaicumodulomuluideascriebinecaestitujmekercusuatacutot:lol:

[Le Clerk]

daceaicumodulomuluideascriebinecaestitujmekercusuatacutot:lol:

:crazy: :lol: baaaah, ruinati thread-ul din cauza unuia si mai ruinat !! :bash:

[tomis3]

daceaicumodulomuluideascriebinecaestitujmekercusuatacutot:lol:

http://images.pearsoned-ema.com/jpeg/large/9780205309023.jpg

[skySK]

Companies from Brasov have paid to the state budget 263 million euros in the first 4 months of the year

Direcţia Generală a Finanţelor Publice (DGFP) Braşov a încasat la bugetul consolidate al statului în primele patru luni ale acestui an 966,67 milioane de lei (aproximativ 263,39 milioane de euro), cu 52,51% mai mult decât în aceeaşi perioadă a anului trecut, când firmele plătiseră impozite de doar 633,86 milioane de lei.
http://www.bzb.ro/index.php?page_name=stire_detalii&id_stire=41251

[Le Clerk]

UK Group Pro Auto industries is to invest EUR 100 million into a special steels mill in Giurgiu, South Romania. The steel mill is unique in CEE and produces special steels for aeronautics and space, wind power, car, machinery, and oil and gas industries. The mill will be operational in February next year.

UK Group has made another car parts investment in Romania this year.

Business Standard
09/05/2008

^^



Investments over €100 mln in a special alloy steel mill


In the coming 3-4 years, Pro Auto Industries group intends to invest some €100 million, in partnership with two foreign companies, to equip and increase to an annual 30,000 tons the production capacity of a steel mill it owns in the southern Romanian town of Giurgiu, according to a declaration for Business Standard by the company’s President, Laurentiu Tigau.

The steel mill, only one of its kind in Central and Eastern Europe, produces special alloy for the aeronautical and aerospace, aeolian, automotive, machine and tools, and oil and gas industries.

“We are presently carrying out hot and cold technological tests and will start the machinery no later than February next year. The initial annual production capacity will be 15,600 tons of processed parts, and plan to double this in the coming years, in parallel with investments in tools for processing products with higher added value,” added Tigau. He indicated that although the production capacity will be significantly higher, the company will not produce more than 6,000 tons of processed special alloy parts in the first year of activity.

The Pro Auto representative indicated that there is great demand on foreign markets for special alloy parts, due to technological development in Asia and Western Europe, not being met by existing production capacities in Western European countries.

The company is controlled by Laurentiu Tigau, with an 82.85 percent stake, Valentina Tigau, with 8.89 percent, and a further five minority shareholders with 2 percent each.

[Le Clerk]

Business Standard
07/05/2008



Average wage up 17.7 percent in March


The gross average wage rose 5.2 percent in March 2008 compared to the month before, up to RON 1,623 (€446.8), while the monthly net salary increase amounted to 5.1 percent, up to RON 1,192 (€328.1), according to the National Institute of Statistics (INS). This translates to a year-on-year average net salary rise of 17.7 percent.

Financial mediation service employees had the highest net average wage, of RON 3,595 (€990), while lowest net earnings were registered in the wood processing industry, excepting furniture, of RON 674 (€185.5).

The real wage increase, calculated as the ratio between net wage and consumer price index, was 104.4 percent compared to February. Compared to October 1990, when prices were liberalized and wages were indexed for the first time, the increase was 116 percent.

[Le Clerk]

Business Standard
09/05/2008



IKEA, afaceri de 21 milioane de euro la trei luni


Retailerul suedez IKEA a realizat in primele trei luni ale anului o cifra de afaceri de 21 milioane de euro in piata locala, a declarat pentru Business Standard Cornel Oprisan, retail manager IKEA Romania. IKEA detine un singur magazin in Bucuresti, deschis in luna martie a anului trecut.

Surse din piata au declarat pentru Business Standard ca IKEA intentioneaza sa deschida pana la sfarsitul anului 2009 doua magazine in Romania, unul in Bucuresti si unul in apropierea municipiului Pitesti. Aceleasi surse au adaugat ca retailerul suedez intentioneaza ca magazinele sa fie deschise pe cont propriu si nu in cadrul unor complexe de retail. Cornel Oprisan a precizat ca nu a luat inca o decizie finala privind locatiile urmatoarelor magazine IKEA in Romania, insa, in declaratiile anterioare, oficialul companiei spunea ca vizeaza orase cu peste 300.000 de locuitori, printre posibilele locatii fiind mentionate Constanta, Galati, Iasi, Cluj, Brasov si Bucuresti. Deschiderea celui de-al doilea magazin IKEA, anuntata initial pentru sfarsitul anului 2008, a fost ulterior amanata de oficialii companiei, pe fondul evolutiilor din piata imobiliara.

“Asa cum am mai declarat, Romania are un potential de sase-opt magazine IKEA, care vor putea satisface necesitatile de mobilare si decorare a locuintei pentru un numar cat mai mare de romani. Nu ne-am propus un interval exact in care vom ajunge la acest maxim, pentru ca dorim ca extinderea sa fie una “sanatoasa”, tinand cont atat de factori legati de piata, cat si de standardele IKEA”, a declarat Cornel Oprisan. El a precizat ca pentru inaugurarea unui magazin este necesara o perioada de pregatiri de aproximativ 14 luni.

Recent, directorul pentru investitii al IKEA in Polonia, Wojciech Dzwonkowski, preciza ca investitiile preconizate pentru extinderea retelei companiei in piata poloneza, de 1,6 miliarde euro, ar putea fi redirectionate catre Romania si Bulgaria, in conditiile in care Polonia a adoptat o lege care restrictioneaza constructia complexelor comerciale de mari dimensiuni. Pentru acest an, retailerul suedez avea programate doua investitii, una la Lodz, de 200 milioane de euro, si o alta la Poznan, de 100 milioane de euro. “Daca legea complexelor comerciale nu este modificata rapid, IKEA ar putea decide sa relocheze capitalul intr-o alta tara, precum Romania sau Bulgaria”, a adaugat Dzwonkowski. Compania intentiona sa deschida in Polonia opt magazine pana in 2015, fiecare in valoare de circa 200 milioane de euro, numarul magazinelor urmand sa ajunga la 15 unitati.

In Romania, retailerul suedez a anuntat, dupa primul an de functionare, vanzari de 87 milioane de euro, 2,7 milioane de vizitatori si peste 11 milioane de produse vandute in piata locala. Rezultatele inregistrate au plasat magazinul din Bucuresti in primele 20 de magazine din lume, dupa rezultatele inregistrate in primele 12 luni de functionare. Initial, oficialii companiei anuntau vanzari de 40 milioane de euro la un an, rezultatele inregistrate fiind de doua ori mai mari decat estimarile initiale.

Reprezentantii companiei apreciaza ca piata de mobila din Romania, care a atins in 2007 valoarea de 1,1 miliarde euro, va creste in acest an cu 15%. La sfarsitul lui 2008 este anuntata intrarea in piata locala si a retailerului austriac kika, care va deveni un competitor direct pentru IKEA, operand inclusiv pe segmentul de discount. kika a anuntat ca va investi cel putin 60 milioane de euro in urmatorii cinci ani, vizand construirea unei retele de noua magazine in Romania. Liderul pietei locale de mobilier este Mobexpert, alti jucatori semnificativi fiind Elvila, Staer, Neoset, Alprom Pitesti, Italsofa.

[tomis3]

Strange choice....I don't think Bucharest needs another Ikea and why Pitesti? What about Cluj, Brasov, Timisoara, Constanta?

[Le Clerk]

^^ Bucharest definitely needs another one. IKEA Baneasa sells 4 times more than expected. Pitesti is still a good choice, though I also wonder why not Cluj, Timisoara or Constanta.

[tomis3]

^^ Bucharest definitely needs another one. IKEA Baneasa sells 4 times more than expected. Pitesti is still a good choice, though I also wonder why not Cluj, Timisoara or Constanta.

I've lived in both Seattle and Atlanta and both are larger (and much richer) than Bucharest and one Ikea seems to be enough....plus most of the stuff they sell is junk anyway...

[Le Clerk]

I do not know whether that is an argument. My point is that IKEA sold 4 times more they expected in Bucharest. If they have another store in Bucharest, they would certainly be able to make a profit from that one, too. Be sure that IKEA did the maths in this choice. :cheers:

[Le Clerk]

The Money Channel
09/05/2008



Serbian retailer Delta Maxi plans to roll into the Romanian market following expansion plans


Serbian retailer Delta Maxi plans to break into the Romanian market by taking over a supermarket chain; it will probably choose something similar to the Tempo discount network, according to the company's representatives, Stefan Kossev.

The company first wanted to take over the Artima store network, but lost the battle to French retailer Carrefour.

Delta Maxi controls supermarket chain Piccadilly, which stretches over 3,000 square meters per unit, discount store chain Tempo (10,000 square meters per unit), Mini Maxi store network (400 square meters per unit), Maxi stores (from 1,000 to 3,000 square meters) and Super Maxi (4,000 square meters).

Piccadilly has 11 stores in Bulgaria and plans to open other six units this year. The chain counts 1,800 employees and posted revenues of 110 million euros in 2007. Delta Maxi bought Piccadilly last year and operates stores in Serbia, Bosnia and Montenegro.

[Le Clerk]

Business Standard
09/05/2008



Isarescu: Romania must not postpone the adoption of the euro


The postponing of the adoption of the single European currency could lead to a “dangerous relaxation” of measures needed for the Romanian convergence process, according to Mugur Isarescu, Governor of the National Bank yesterday, at the presentation of the latest quarterly report on inflation.

has proposed to adopt the euro in 2014, which would require entry into the exchange rate mechanism (ERM2) two years earlier, in 2012. According to a poll carried out by Reuters in April, it is estimated that will adopt the single currency in 2015, one year later than proposed. Alternatively, a report by Erste Bank forecasts ’s convergence to the euro in 2014, although the bank group’s economists stressed that economic reforms and restructuring of the economy must continue so that the country can meet the convergence deadline.

[Le Clerk]

Business Standard
09/05/2008




O firmă din Lituania vrea să deschidă o fabrică de îngrăşăminte chimice în Zona Liberă Galaţi

Producătorul lituanian de îngrăşăminte chimice ARVI va deschide o fabrică de îmbogăţire şi de ambalare a îngrăşămintelor în Zona Liberă Galaţi, valoarea totală a investiţiei cifrându-se la 1,5 milioane de euro, transmite corespondentul NewsIn.

Compania ARVI din Lituania a redactat scrisoarea de intenţie în vederea concesionării unei suprafeţe de 22.628 mp în Zona Liberă Galaţi, pe o perioadă de 50 de ani. Firma, al cărei obiect de activitate este producerea şi comercializarea de îngrăşăminte chimice utilizate în agricultură, intenţionează să deschidă la Galaţi o fabrică de îmbogăţire şi de ambalare a îngrăşămintelor. "Vor să aducă materia primă din fostele state iugoslave, să perfecţioneze şi să ambaleze produsele aici, în Zona Liberă, după care să le comercializeze în ţările baltice", a declarat, vineri, directorul Administraţiei Zonei Libere Galaţi, Angela Ivan.

[Le Clerk]

Interesting stats from the Romanian Statistical Office:

Unemployment rate in every Romanian county
http://img131.imageshack.us/img131/2849/unemply1jpgjb3.bmp
http://img216.imageshack.us/img216/9495/unemply2kl7.png (http://imageshack.us)


Unemployment rate february 2007-february 2008:
http://img140.imageshack.us/img140/5550/unemploymentba7.jpg (http://imageshack.us)

[Le Clerk]

Business Standard
12/05/2008



Romania could absorb half of EU funds for 2008



Romania will absorb €2.5 billion in European funds this year, of which €1.5 bln will be post accession funds, according to State Secretary of the Ministry of Economy and Finances, Eugen Teodorovici.

The Rural Development Program will absorb €987 million. Liviu Voinea, Executive Manager of independent think tank Applied Economy Group, said the situation is better than last year, when €1.3 billion were granted, and no funds were spent.

The President of the Romanian Agricultural Producers Association, Viorel Matei, believes that 100 percent of European funds for 2008 will be absorbed. The most important projects this year are for the environment and transportation.

[Le Clerk]

Business Standard
12/05/2008



Romanians invested some €15 mln in luxury yachts

Romanian business people acquired over one hundred boats, or 90 percent of yachts exhibited at the Romanian Boat Show in Bucharest, held from 7-11 May. The boats are worth some €15 million.
One of the most expensive yachts, a Sunseeker Portofino 47, was sold for €620,000.

“During the exhibition, clients bought models that were not shown. A Maserati client bought a Sunseeker Predator 62 for €1.4 million,” said official Sunseeker official in Romania and Country Manager of Maserati, Mike Costache, who also represents a further two luxury boat brands, Rinker and Formula, in Romania.

[Le Clerk]

Ziarul Financiar
09/05/2008

Romeo Dunca invests in new ski resort


Businessman Romeo Dunca, stakeholder in Dunca Expeditii, a commodities shipment company, has hired Canada's Ecosign, a leading mountain resort planner, to start "hundreds of millions of euros" worth of investments in an environment-friendly ski resort, BUSINESS Magazin reports.

"We want to bring Austria to the foot of Tarcu Mountain, where there are 11 peaks that stand above 2,000 metres, or rather offer an alternative to people who ski in Austria, be they Hungarians or Romanians," says Romeo Dunca.

The ski resort is by no means a new proposal, and was even considered before 1989, under the name of Perla Banatului, whilst its current form could include tens of kilometres of slopes, installations for these and the construction of facilities to accommodate 10,000 people, besides infrastructure and local development works.

Dunca's involvement in the project entails the creation of the resort's concept and the regional urban plan, as well as getting local authorities involved. In terms of investments, the Timisoara businessman will equip the 11 slopes with installations, which cost 50m euros.

"(...) This is a project worth several hundred million euros to be amortised immediately," believes Dunca.

Dunca's ski resort project is not the only one of this type in Romania, although it is the biggest at present. Arieseni Schi Resort, proposed by Schi Resort SRL, a firm controlled by businessman Silviu Prigoana, a year ago submitted a ski resort project to Arieseni, Alba county, city hall. The project proposes 110m RON investments and entails the construction of 10 slopes with a total length of 12.55 km, accommodation facilities for 3.500 people in 5 hotels, 86 B&B's and 47 holiday houses.

[Le Clerk]

EIIC reveals Dh1.8bn plan for expansion


By

Staff Writer on Sunday, May 11, 2008

Emirates International Investment Company (EIIC) has announced ambitious plans to build six hi-tech factories in the UAE, Saudi Arabia, Algeria, Romania and Vietnam at an estimated cost of Dh1.8 billion.

EIIC's decision to construct these factories comes at a time when the region is experiencing a great construction boom.

To satisfy market demand, EIIC is estimating production levels of 40,000 tonnes per year of copper and 7,000 tonnes per year of aluminium low, medium and high voltage cables, all of which will adhere to best international standards.

EIIC has already begun construction on two UAE-based factories in Mussafah, Abu Dhabi. The first manufacturing facility will produce aluminium rods of 100,000 tonnes per year, and the second manufacturing facility producing magnetic wires of an estimated 25,000 tonnes a year.

Omar Younis, General Manager of EIIC-owned Electrocab which is managing the factories, stated that the company plans to boost production of copper cables in its Algeria factory to 60,000 tonnes/year . He confirmed that the KSA, Romania and Vietnam factory blueprints are completed and the sites have already been selected.

"We have secured a team of specialised cable professionals who will ensure top-notch quality management for all our products," he said.







Copyright © 2008 Emirates Business 24|7

[Le Clerk]

The Diplomat
May 2008

Romania: best regional investment destination


Romania is the most attractive investment destination in southeast Europe this year, followed by Turkey, Bulgaria and Greece, according to a report by Ernst & Young.

Although Romania ranks first in terms of foreign direct investment between 2006 and 2007, Serbia registered the most dynamic growth in the same period, with a 174 per cent increase.

According to another survey conducted by Germany’s Centre for European Economic Research, 37 percent of foreign investors polled consider Romania the most attractive site in eastern Europe, ahead of Poland at 34 per cent and the Czech Republic and Hungary at six per cent each.

However FDI is expected to stabilise at seven billion Euro this year, about the same as last year, according to the National Agency for Foreign Investments (ARIS). The figure represents nearly 20 per cent of the total FDI in the ten new EU member states, which totalled 39.3 billion Euro last year.

[Gekko's]

Business Standard
09/05/2008

so in the other words when will we able to use Euro in Romania?
I don't understand that from the article you posted

[nebunul]

^^ 2014 (latest 2015)

[Le Clerk]

The take-over allows IRS to produce locomotives at the Serbian factories.

Autor: Ziarul Financiar
Data: 12-05-2008



IRS a preluat 49% din holdingul feroviar sarb Friulexport

Grupul International Railway Systems (IRS), detinut de omul de afaceri Cristian Burci, a intrat pe piata din Serbia prin preluarea unei participatii de 49% la holdingul feroviar Friulexport, in colaborare cu un investitor strategic, avand optiunea de a cumpara ulterior restul de 51% din actiuni.

Friulexport detine 86,92% din actiunile MIN Vagonka, 87,1% din MIN Lokomotiva si 89,54% din Specijalna Vozila, iar IRS a obtinut, in urma acordului, participatii de control la aceste fabrici.

Achizitia permite extinderea capacitatii IRS in domeniul fabricarii de material rulant si intrarea pe segmentul productiei de locomotive.

Fabricile sunt localizate pe coridorul feroviar pan-european X, care face legatura intre Turcia si Grecia cu Austria, Bulgaria, Macedonia, Serbia, Croatia si Slovenia.

"Achizitia marcheaza intrarea pe segmentul fabricarii de locomotive si va permite cresterea capacitatii de productie. Punem in practica strategia de dezvoltare a IRS si continuam sa urmarim noi oportunitati care sa ne consolideze pozitia de lider in sectorul european al vagoanelor de marfa", a declarat presedintele IRS, Cristian Burci.
Sursa: www.zf.ro/articol_171991

[tomis3]

Ziarul Financiar

Produsul Intern Brut (PIB) estimat a crescut in primul trimestru cu 7,5%, fiind cel mai mare avans al economiei pentru primele trei luni dintr-un an consemnat din 1990, a declarat, luni, ministrul Economiei si Finantelor, Varujan Vosganian, citat de Mediafax.

Potrivit estimarilor prezentate de ministrul Finantelor, serviciile au avut o crestere de 6,7%, iar constructiile au inregistrat un avans de 32%.

Vosganian a aratat ca evolutia buna a economiei a avut loc pe fondul unei reduceri cu 2% a consumului de resurse de energie primara.

In acelasi timp, ministrul a evidentiat evolutia buna a balantei externe, cu o crestere a exporturilor de 13,5%, superioara dinamicii importurilor, de 12,3%.

[Le Clerk]

^^ Jesus...7.5% GDP increase!!! Hope to keep it that way all the way until the end of the year. Excellent news! :cheers:

[Le Clerk]

HotNews.ro
Luni, 12 mai 2008, 17:00 English | Business




EBRD adopts new strategy for Romania
The European Bank for Reconstruction and Development Bank (EBRD) adopted a new investment strategy for Romania which outlines its three years time priorities, an official press release of the bank informs. Thus, EBRD investments will focus on the private sector and on energy and infrastructure.

EBRD investments in key sectors will focus on production activities to support Romania's development as a European Union member state, the press release adds. EBRD will offer local private companies its support to become more competitive and be able to develop more. Thus, the institution will take up high risks and will participate in their capital to improve their restructuring and development.

The press release informs that the bank will target mostly rural based companies in order to encourage regional integration, to create more jobs and stimulate Romania's economy. EBRD will also get involved in the energy sector and will support the infrastructure development.

Until now, EBRD invested some 3.5 billion euro in 248 projects in Romania and had a say in the mobilization of 6.5 billion euro from foreign sources.

[Gekko's]

^^ Jesus...7.5% GDP increase!!! Hope to keep it that way all the way until the end of the year. Excellent news! :cheers:



Compliments!!:banana:

7.5% of GDP growth for all 2008 seems to me optimistic but hope is the last to die!:cheers:

[Le Clerk]

^^ Thanks. :cheers:


Here's another interesting article about Romania's economy expanding regionally:

Business Standard
13/05/2008



Yields up to 1,000% for Romanian investors in Serbia


Serbia is currently the hottest market in the region for Romanian investors, as it has attracted some of the most important local companies in the past two years.

Thus, Rompetrol and Petrom oil groups, Tender SA, with operations in the transportation and pharmaceutical industry, Cuprom, with operations in the steel industry, the Mobexpert furniture producer, and the International Railway Systems transportation company have developed their business in Serbia.

Assets currently being privatized on the Serbian market are cheap, allowing for yields of up to 1,000 percent in seven years, according to several investors. Furthermore, the country’s labor force is inexpensive compared to other former Yugoslav countries, and its infrastructure is developed. These are the main reasons drawing investors to the Serbian market.

International Railway Systems, controlled by businessman Cristian Burci, yesterday announced the takeover of 49 percent of Serbian Friulexpert railway group, with the possibility of acquiring the remaining stock.

Although they lost the bid to Russian companies for the privatization of Serbian state-owned assets, Rompetrol and Cuprom opted for greenfield projects or the acquisition of private companies.

“I believe that increasingly more Romanian business people will discover Serbia because they will soon become aware of this country’s growth potential. Romania’s economic situation is declining in terms of opportunities, as they look for successful economic operations, Romanians will finally recognize the potential of this country,” Tender SA owner, businessman Ovidiu Tender, told Business Standard.

Furthermore, Tender added that “the victory of a pro-European party in the country’s elections proves that I made a good choice and that my forecast will become a reality.”

[commodore]

Compliments!!:banana:

7.5% of GDP growth for all 2008 seems to me optimistic but hope is the last to die!:cheers:

Usually the percentage increase towards the end of the year. Therefore, a 7% percentage is quite realistic IMO :cheers:

[tomis3]

Source: Cotidianul

Highlight: Romania's GDP for the first three months of 2008 was equal to the entire GDP of 2000.

Economia a bătut toate recordurile în primul trimestru

În ciuda crizei financiare din Europa, economia României a produs în trei luni cât a produs în tot anul 2000.

România a avut în primul trimestru o creştere economică de 7,5% din PIB şi o creştere a cifrei de afaceri din comerţul cu amănuntul de 15,9%, cifre-record pentru economia de după 1990, a anunţat ministrul Finanţelor, Varujan Vosganian.
„A fost cel mai performant prim trimestru din ‘90 încoace. PIB-ul a crescut cu nu mai puţin de 7,5%. Mai precis, România a produs în primul trimestru cât a produs în tot anul 2000. Sporul pe partea de servicii a fost de 6,7%, iar în construcţii, într-un singur trimestru, creşterea a fost de 32%. Imaginaţi-vă că toate s-au petrecut pe fondul unei scăderi a consumului energetic, în PIB, de 2%“, a spus ministrul.

Însă indicatorul care arată diferenţa dintre România şi celelalte state este criteriul de convergenţă, calculat în PIB pe cap de locuitor, ponderat cu paritatea puterii de cumpărare, a spus ministrul. „Această paritate arată cât poţi cumpăra cu un euro. În România, cu un euro poţi cumpăra tot atât cât poţi cumpăra cu doi euro în Uniunea Europeană, în ansamblu. Astfel, în prezent, avem un PIB pe cap de locuitor de 5.630 de euro. Ponderat, ajungem la 10.000 de euro pe cap de locuitor. Suntem la 41% din media UE, nivel care era prognozat pentru noi abia la nivelul anului 2010“, a precizat ministrul. El a ţinut să sublinieze corectitudinea datelor, contestată în ultimele zile de partidele politice rivale PNL-ului.
„În urma unor semnale din presă, Comisia Europeană ne-a solicitat verificarea datelor. A venit aici o echipă de la Eurostat. Două luni am stat cu ei să le arătăm metodologiile de calcul. Rezultatul a fost că Eurostat a preluat integral în rapoarte cifrele date de noi“, a spus Vosganian.

Creşterea economică record are o serie de explicaţii. Potrivit europarlamentarului şi profesorului de economie Daniel Dăianu, economia românească este trasă în sus atât de consum, cât şi de investiţii. „Ultimele statistici arată că în România nu se regăsesc tendinţele din cele mai multe state europene. Vânzările de retail de la noi au o creştere-record în Europa, în timp ce în UE încetinesc. De asemenea, creditarea ca sursă de alimentare a consumului nu încetineşte, băncile se bat în continuare pentru cotă de piaţă. Nu în ultimul rând, se fac investiţii serioase în pofida percepţiei privind corupţia, cum ar fi de pildă cea a Fordului la Craiova, şi este posibil să asistăm în continuare la astfel de investiţii care atrag după ele şi dezvoltarea infrastructurii“, a declarat Daniel Dăianu pentru Cotidianul. „Nu trebuie uitată nici deprecierea leului, care a condus în ultimele luni la un ritm mai înalt de creştere a exporturilor faţă de importuri, fapt ce a contribuit de asemenea la acest rezultat“, a conchis Dăianu.

În plus, ministrul Finanţelor a arătat că evoluţia economiei pe primul trimestru îl îndreptăţeşte să spere într-o oprire, în premieră, a adâncirii deficitului comercial în acest an. „Exporturile au crescut în primul trimestru cu 13,5%, în timp ce importurile au crescut cu numai 12,3%. Sperăm chiar într-o scădere a deficitului de cont curent anul acesta, pe fondul scăderii evidente a celui comercial“, a declarat Vosganian.

[Gekko's]

Source: Cotidianul

Highlight: Romania's GDP for the first three months of 2008 was equal to the entire GDP of 2000.

Can someone translate the article in english?:)

[tomis3]

Can someone translate the article in english?:)

Here is a different article in English that says about the same thing.

Source: Ziarul Financiar

The estimated Gross Domestic Product (GDP) rose by 7.5 percent in the first three months of the year, which is the biggest first-quarter leap the economy has made since 1990, economy and finance minister Varujan Vosganian stated yesterday.

According to the estimates presented by the minister, services witnessed a 6.7 percent increase and the construction sector went up by 32 percent. Vosganian said that the economy's good performance occurred in the wake of a 2 percent decline in the consumption of primary energy sources.

At the same time, the minister highlighted the positive performance of the foreign balance, after exports increased by 13.5 percent, and left imports behind, which advanced by 12.3 percent.

"We hope to see the current account deficit as a percentage of GDP lower than the figure in 2007. We have begun the process that aims to bring the current account deficit down to a single digit by 2010," Vosganian stated.

In addition, he estimated foreign investments could reach 7.5-8 billion euros this year.

Vosganian also said that the economic growth registered was apparent in living standards, and explained that the Gross Domestic Product per capita had reached 41 percent of the European Union average in terms of purchasing power parity.

"If this fiscal policy and the other economic policies continue, then Romania could exceed half of the EU's GDP calculated by purchasing power parity by 2013," Vosganian explained.

The minister added that the general consolidated budget had posted a 617 million-euro surplus four months into the year, which accounted for 0.14 percent of GDP. Total revenues of the general consolidated budget amounted to 62.15 billion RON, which accounted for 14.1 percent of GDP, compared with 38.3 billion RON from January through April 2007, when they accounted for 9.8 percent of GDP.

Expenses of the general consolidated budget totalled 61.5 billion RON.

The data of the Economy and Finance Ministry reveal that the general consolidated budget posted a slight surplus in the first three months, 79.2 million RON (21.46 million euros), which accounted for 0.02 percent of the Gross Domestic Product.

In the first week of March, the Government approved the first budget adjustment this year, whereby the deficit of the general consolidated budget scheduled for 2008 was lowered from 2.75 percent of GDP to 2.3 percent of GDP.

According to the preliminary data about GDP and budget execution, the general consolidated budget registered a deficit of 2.33 percent of GDP last year, according to the Romanian computation method, and a deficit of 2.53 percent, according to the ESA 95 rules.

The government intends to adjust the public and social security budgets during the parliamentary summer holiday, which is scheduled between July 1 and September 1.

[Le Clerk]

Romanian PM goes to Austria tomorrow to discuss with Voestalpine's management. The EU Commission cut back Romania's CO2 allocations for 2008-2012 and this plays negatively for Romania. However, should Daimler choose Romania, Voestalpine should come here.


The Money Channel
13/05/2008



Voestalpine a ales în România o locaţie de 700 hectare în Agigea
Marti, 13 Mai 2008


Guvernul de la Bucureşti încearcă să-i convingă pe reprezentaţii Voestalpine să aleagă România ca locaţie pentru viitorul combinat siderurgic integrat. Potrivit surselor Money Channel austriecii s-ar fi hotărât deja asupra unei locaţii de 700 de hectare în zona localităţii Agigea. Premierul Călin Popescu Tăriceanu se duce miercuri în Austria ca să discute cu conducerea Voestalpine.

Austriecii de la Voestalpine decid în această vară unde vor investi cele 5 miliarde de euro destinate construcţiei unui combinat siderurgic integrat. În cărţi sunt România, Bulgaria şi Ucraina. Voestalpine caută o locaţie cu acces la Marea Neagră , dar şi cu infrastructura rutieră şi feroviară. Investiţia va crea 6000 de locuri de muncă în combinat şi încă 20 de mii în industriile conexe.


Potrivit surselor Money Channel austriecii s-ar fi hotărât deja că dacă aleg România investiţia va fi făcută pe 700 de hectare în apropierea localităţii Agigea, unde au acces la canalul Dunăre – Marea Neagră. România şi Bulgaria au însă un dezavantaj în faţa Ucrainei: standardele ridicate de protecţie a mediului impuse de Uniunea Europeană şi costurile aferente respectării lor.


Recent Comisia Europeană a decis reducerea cu 20% a cotei de poluare alocate României pentru 2008-2012. Şansele ţării noastre ar creşte considerabil dacă Mercedes, unul dintre principalii clienţi ai austriecilor, îşi va deschide o unitate de producţie în România. Reprezentanţii Voestalpine ne-au vizitat în repetate rânduri şi au purtat discuţii atât cu reprezentanţii guvernului cât şi cu analiştii economici din băncile comerciale.


Voestalpine este deja prezentă în România prin producătorul de tuburi de oţel Elmsteel, care are o fabrică la Satu Mare. Deasemenea furnizorul german Danke, deţinut tot de grupul austriac, construieşte la Arad o uzină de presare.

[commodore]

^^That's indeed great news. But let's wait for the confirmation

[Le Clerk]

Ziarul Financiar
14/05/2008

IKEA va deschide un magazin in ERA Shopping Park Iasi



Retailerul suedez de mobilier IKEA, care a intrat pe piata locala in primavara anului trecut, va deschide anul viitor un magazin in cadrul parcului de retail Era Shopping Park din Iasi, aflat in constructie.

Magazinul va avea o suprafata construita de 24.000 de metri patrati, finalizarea contractului dintre dezvoltator si retailer urmand a fi realizata in perioada imediat urmatoare, au declarat pentru ZF surse din piata imobiliara.

IKEA a anuntat planuri pentru deschiderea a sase magazine in Romania pe termen mediu, fara a specifica pana in prezent unde va fi pozitionata a

[Le Clerk]

Ziarul Financiar
14/05/2008


Grain production set to triple this year


This year's grain and technical crop yield is estimated at 21.2 million tonnes, a volume almost three times bigger than last year's, when a harvest of 8.6 million tonnes was reported, according to the data released by the Agriculture and Rural Development Ministry.

"At the beginning of each year county offices release forecasts for the year ahead, on the basis of which we plan production. However, an estimate on the autumn harvest cannot be made before the end of May, and even later for spring crops," stated Elena Tatomir, director of
the vegetal production department of the Agriculture and Rural Development Ministry.

Farmers also think the authorities' projections are ambitious, and believe it is much too early to forecast increases. Despite being sceptical about such a high increase farmers are sure the volume of agricultural products will be at least 50% higher this year.

The main factors expected to bolster production are the high volume of rainfall registered since last autumn, the favourable temperatures, as well as the massive investments farmers operated during last summer's drought.

According to the projections of the Agriculture Ministry, sunflower crops are expected to boast the biggest increase, of almost 150%, with a total production of 1.6 million tonnes being estimated for the 2008 harvest, from just 539,000 tonnes in 2007.

Average output per hectare is expected to reach 1.8 tonnes, higher than last year, when it hit 0.6 tonnes/hectare. The land used to cultivate sunflowers stands at 867,000 hectares, up 8% on 2007.

Harvested corn is expected to increase by two and a half times, with total output estimated to reach 10 million tonnes, from 3.9 million tonnes last year. Given that the area allocated to this crop stands at 2.6 million tonnes this year, estimated average production stands at 3.7 tonnes/hectare, an increase of 52% on 2007.

Wheat production is forecast to reach a volume of 7 million tonnes this year, more than double the 2007 volume. Average production per hectare is forecast to stand at 3.2 tonnes, given the total area used to cultivate wheat stands at 2.1 million hectares.

Agriculture Ministry data also shows that rapeseed crops have posted the fastest growth rate since 1995. Rapeseed production will amount to 885,000 tonnes, up 130% from 2007. Compared with last year, average output has doubled and reached almost 2 tonnes/hectare.

Soybean is the only crop whose area shrank against last year, from 113,000 hectares, to 103,000 hectares. However, average production is expected to reach 2 tonnes/hectare, double the 2007 figure. Barley and two-row barley will also see production go up significantly in 2008.

A richer harvest, due to favourable weather conditions, is likely to cut current grain prices in half, whilst agricultural players believe a price crisis, like the one experienced in previous years, is no longer possible.

Grain output

This year's grain and technical crop production is estimated at 21.2 million tonnes, a volume almost 3 times bigger than last year's, when a harvest of 8.6 million tonnes was reported

Despite being sceptical about such a high increase, farmers are positive the volume of agriculture products will be at least 50% higher this year

A bigger harvest, due to favourable weather conditions, could cut current grain prices in half

[Le Clerk]

Business Standard
14/05/2008



Eurostat reports Romania third in March increase in EU industrial production


Romania was third in March in terms of annual increase in industrial production of all European Union (EU) member states, at 5.7 percent, after Ireland, with 6.9 percent, and the Netherlands, with 6.6 percent, according to the European statistical bureau, Eurostat.

According to Eurostat, the evolution of monthly industrial production was 0.7 percent in Romania, compared to a downward trend in 15 member states. Ireland had a record evolution, of 9.1 percent, and the Netherlands 2.1 percent. According to its own estimates, Luxembourg had a monthly increase of 1.6 percent.

Denmark’s industrial production dropped 6.1 percent, Portugal 6.2 percent, and Greece 5.4 percent.

Compared to February, industrial production decreased 0.2 percent in the euro zone in March and 0.1 percent in the entire EU. Year-on-year, industrial production rose 2 percent in the euro zone and 1.8 percent in the EU. (NewsIn)

[tomis3]

I know this isn't really "economic news" but I will post it here and as we find out more about specific hospitals, we can post new in the appropriate regional threads.

Source: Ziarul Financiar

Giganti mondiali din domeniul constructiilor precum Bouygues, Astaldi, Alpine sau Aktor au depus oferte pentru licitatia organizata de Ministerul Sanatatii in vederea construirii a 32 de spitale in patru ani, proiect estimat la 2,7 mld. euro.

"Procedura de achizitie pentru constructia de spitale este licitatia deschisa. Dupa finalizarea licitatiilor vom incepe lucrarile de proiectare, construire si dotare la cheie a patru spitale regionale de urgenta, 18 spitale clinice de urgenta si a altor 10 spitale municipale, orasenesti si comunale.

[tomis3]

Source: www.standard.ro

Premierul Calin Popescu Tariceanu a anuntat, ieri, in timpul vizitei sale la sediul grupul austriac Voestalpine ca autoritatile romane vor asigura cele mai bune conditii daca se va decide ca fabrica de otel pe care compania doreste sa o construiasca in zona Marii Negre va fi deschisa in Romania. Tariceanu a avut discutii ieri la Linz cu reprezentantii grupului austriac Voestalpine, vizand decizia grupului austriac de a investi in Romania, in conditiile in care producatorul austriac de otel si-a exprimat deja intentia de construire a unui combinat siderurgic la Marea Neagra, o investitie estimata la aproximativ 5,5 miliarde de euro.

"In adoptarea unei decizii va fi foarte important de vazut cat de mult isi doreste o tara sa atraga aceasta investitie", a declarat directorul general al Voestalpine, Wolfgang Eder, in conferinta de presa organizata la sfarsitul discutiei cu premierul Calin Popescu Tariceanu, citat de Mediafax.

Romania este in concurenta cu Bulgaria si Ucraina pentru amplasarea combinatului pe teritoriul sau. Tariceanu a precizat ca reprezentantii grupului austriac au fost in Romania pentru discutii "aprofundate" cu o comisie guvernamentala, condusa de ministrul pentru Comert, Ovidiu Silaghi. De celalalta parte, delegatia care poarta negocierile in Romania este condusa de Karl Heider, project manager in cadrul grupului austriac Voestalpine.

Potrivit unor surse din piata, delegatia austriaca a demarat dicutiile cu parte romana de la inceputul acestui an, printre autoritatile implicate fiind si primarul municipiului Constanta, Radu Mazare. Primarul Constantei Radu Mazare a confirmat pentru Business Standard ca a avut o intrevedere acum trei saptamani cu reprezentantii grupului austriac Voestalpine, care si-au manifestat interesul de a investi in zona Agigea -Constanta, unde ar putea construi un combinat siderurgic pe o suprafata de aprozimativ 1000 de hectare: 600 de hectare -fabrica, 200 de hectare -parcul logistic si 200 de hectare -parcul industrial.

"Am stabilit sa colaboram pe viitor, pentru ca lucrurile nu sunt chiar atat de simple, data fiind locatia aleasa de investitori, Agigea -Constanta, o zona importanta din punct de vedere turistic. Ei mi-au solicitat parerea in legatura cu impactul pe care l-ar putea avea proiectul, cum ar putea privi oamenii, turistii, aceasta investitie. Am mai discuat si despre probeleme de mediu, despre noxe, iar ei s-au angajat sa revina cu amanunte dupa 1 iunie, cand vor avea urmatoarea sedinta a boardului", a mai spus Mazare.

[tomis3]

Source: www.mtctv.ro

Voestalpine: Legislaţia de mediu a UE este principala problemă pentru alegerea amplasamentului
14 mai 2008 19:35

LeClerK...this is for you..consider this article along with Mazare's statements (from the article above) which seem more skeptical than optimistic. The article mentions just Romania and Bulgaria which is plain stupid 'cause both have the same EU environmental legislation....they forgot to mention the real competitors Ukraine and Turkey which don't have to abide by EU laws.

This is why I told you to calm down and not make crazy statements based on what the Romanian press speculates....we all know what a bunch of baboons asses our journalists are....I'd be surprised if most of these morons know a stock from a bond.


Deciziile UE privind legislaţia de mediu sunt foarte importante pentru alegerea amplasamentului, a declarat, miercuri, directorul executiv al Voestalpine, Wolfgang Eder, referindu-se la uzina pe care compania austriacă intenţionează s-o deschidă la Marea Neagră.

În cadrul întâlnirii dintre premierul Călin Popescu-Tăriceanu şi conducerea Voestalpine, cele două părţi au fost de acord că reglementările Uniunii Europene cu privire la protecţia mediului ar putea deveni o piedică în faţa proiectului pentru care concurează România şi Bulgaria - construcţia unui combinat siderurgic la Marea Neagră - şi pentru care austriecii vor pune la bătaie şapte miliarde de euro. "Dacă peste 5 ani, legislaţia UE privind mediul devine constrângătoare, o serie de activităţi din UE vor trebui delocalizate", a spus Tăriceanu.

[tomis3]

Source: Ziarul Financiar

Valoarea investitiile straine directe a urcat in luna martie cu 38%, la 1,67 miliarde de euro, comparativ cu 1,21 miliarde de euro la in luna februarie, potrivit datelor publicate astazi de Banca Nationala a Romaniei.

[Le Clerk]

Are we going to get 1+ billion per month all the way to end of the year?? :eek2:

[tomis3]

Are we going to get 1+ billion per month all the way to end of the year?? :eek2:

That would be incredible.

Got nothing to say about the two Voestalpine stories I posted?

[Le Clerk]

^^ Haha, you expect me to admit I was wrong? :D

I am still betting that Romania will get the investment. It's not just the canal that puts us in an advantage, but the whole economic circumstances that are unmatched in any other neighbouring country. Plus, Voest has more plants in Romania than in all neighobouring countries combined.

[tomis3]

^^ Haha, you expect me to admit I was wrong? :D

I am still betting that Romania will get the investment. It's not just the canal that puts us in an advantage, but the whole economic circumstances that are unmatched in any other neighbouring country. Plus, Voest has more plants in Romania than in all neighobouring countries combined.

Each country has its +/- but I don't think you can make any sort of definitive statement about where the plant will be build...I think you suffer from something that in behavioral finance is called......"over confidence".....very dangerous stuff.

[Le Clerk]

Each country has its +/- but I don't think you can make any sort of definitive statement about where the plant will be build...I think you suffer from something that in behavioral finance is called......"over confidence".....very dangerous stuff.

OK, that means that I am sick? :jk:

Can you please check this (http://www.insse.ro/cms/rw/pages/index.ro.do) doc (Buletin Statistic lunar 3) and see whether there is any data for Q1 growth? I am really tied up here, and don't have time to do that.

[tomis3]

Are we going to get 1+ billion per month all the way to end of the year?? :eek2:

Se pare ce ne-am amagit...Citesc acum un articol in standard.ro care sune ca suma respectiva reprezinta FDI pe primele 3 luni din 2008 si nu doar pt luna Martie cum zice Ziarul Financiar....

Din cate am inteles eu...la sfarsitul lu' feb, FDI-ul era de 1.22 iar la sfarsitul lu martie e de 1.67...deci in martie FDI a fost de 0.45

[Le Clerk]

^^ Nu este posibil, cred ca au gresit. Asta inseamna un FDI trimestrial de putin peste un miliard, ceea ce intr-un an ar conduce la peste 3 miliarde sau 4 miliarde. Cred ca au gresit.

[tomis3]

^^ Nu este posibil, cred ca au gresit. Asta inseamna un FDI trimestrial de putin peste un miliard, ceea ce intr-un an ar conduce la peste 3 miliarde sau 4 miliarde. Cred ca au gresit.


Nu e trimestrial ca e pe 3 luni....1.67*4=6.68

[Le Clerk]

M-am uitat pe site-ul BNR. Asa este:

Deficitul contului curent în trimestrul I 2008 a fost acoperit în proporţie de 47,6 la sută prin investiţii străine directe, care au înregistrat 1 676 milioane euro, din care participaţiile la capital şi profitul reinvestit au reprezentat 57,2 la sută, iar creditele intra-grup1 42,8 la sută.

Datoria externă pe termen mediu şi lung2 a înregistrat la 31 martie 2008 nivelul de 39 948 milioane euro, în creştere cu 4,2 la sută faţă de 31 decembrie 2007.

Datoria externă publică şi public garantată a înregistrat la 31 martie 2008 un sold de 10 445 milioane euro şi a reprezentat 26,1 la sută din datoria externă pe termen mediu şi lung (faţă de 27,1 la sută la 31 decembrie 2007).

Datoria externă negarantată public a însumat 25 904 milioane euro la 31 martie 2008, fiind cu 4,8 la sută mai mare decât la 31 decembrie 2007.

[tomis3]

se pare ca in Romania anul are patru trimestre...

[Cosmin]

In Georgia anul are doar 9 luni?!:shifty:

[Le Clerk]

mestru vine din lat. mensis care inseamna luna....deci trimestru inseamna trei luni.

[Cosmin]

Trimestru = quarter (Q1-Q4). I prefer the latter... it's clearer.

[tomis3]

In Georgia anul are doar 9 luni?!:shifty:

In America,si mai peste tot, anul financiar se imparte in sferturi (quarters) de tre luni fiecare:Q1, Q2, Q3, Q4...in martie s-a terminat Q1....acum suntem in Q2...

In Romania se pare ca notiunea de sfert (quarter) este exprimata prin ideea de "trimerstru"....BNR spune ca FDI a fost 1.67 in T1 iar presa spune ca FDI in primele tre luni a fost 1.67....

[Cosmin]

Pentru ca primele 3 luni = T1 = Q1.:)

[tomis3]

mestru vine din lat. mensis care inseamna luna....deci trimestru inseamna trei luni.

Did not know that....dar semnificatia actuala nu este asta...in Romania anul scolar are trei trimestre....in America sarcina se impartre in trei trimestre...