News on Economy, Industry, Investments & Business II

[Le Clerk]

^^ BTW, there are some evaluations which estimate that BUcharest can become a strong regional financial center. This is one of the signs. Another sign is that all FMCG (fast moving consumer goods) multinationals have established their HQs for the entire Balkans in Bucharest. From Colgate-Palmolive to P&G and BAT, JTI, Phillip Morris and a lot others have established their HQs in Bucharest and manage the entire Balkans from here. I had professional encounters with some of these companies and they have their management (executive, financial and legal) Balkan HQs in Bucharest.

That's why we need projects like Esplanada...to grow Bucharest potential as regional financial and management center. :cheers:

^^



Autor: Ziarul Financiar
Data: 15-07-2008

Bogdan Merfea, head of Raiffeisen Sales and Distribution Romania appointed head of Raiffeisen Kosovo. :cheers:



Bogdan Merfea, numit la conducerea Raiffeisen Bank din Kosovo

Coordonatorul ariei de vanzari si distributie din cadrul Raiffeisen Bank Romania, Bogdan Merfea, va prelua conducerea subsidiarei din Kosovo a grupului austriac, se arata intr-un comunicat al bancii.

Bogdan Merfea a fost numit in functie de Raiffeisen International si il va inlocui pe fostul director, Olivier Whittle.

Bogdan Merfea s-a alaturat grupului Raiffeisen in 2001, cand a fost numit director al sucursalei Raiffeisen Bank din Brasov.

Din 2004, acesta a preluat functia de director al centrului regional de management Brasov, iar din 2005 a fost numit director executiv si a coordonat reteaua de unitati a Raiffeisen Bank.
Sursa: www.zf.ro/articol_179740

[Le Clerk]

Business Standard
16/07/2008



Tourism: over 7% of investments in Romania


Investments in tourism could reach €1.2 billion this year, mainly in hotels, which would contribute 7.3 percent to total investments in the economy, according to a report by the World Tourism and Travel Council (WTTC).
According to Mircea Draghicu, Project Manager at Fivestar Hospitality, the most dynamic cities in terms of investments are Bucharest, Timisoara, Arad, Cluj-Napoca and Brasov.

Radu Enache, owner of Continental Hotels, indicated that location is one of the main factors for an investment. “We have different cities for different brands,” added Enache, who will invest in at least ten Hello Hotels.

According to market players, investments in hotels are focused on 3 and 4-star segments. The WTTC report shows that investments in tourism could have a ratio of 7.5 percent in terms of total investments in the coming years, and the work force could make up 8.4 percent of total employees by 2018.

[High Mileager]

1.4 Million tourists expected to visit Romanian coast this summer

That's probably because Ryanair did CND "the favour" of flying there..

[nebunul]

Spre deosebire de CJ Arad se pare ca cei din Constanta au inteles avantajele ...

Dupa negocieri, APDTL a semnat recent un contract cu Ryanair in vederea promovarii turismului pe litoralul romanesc prin pachete turistice oferite clientilor Ryanair, a aratat Corina Martin, presedintele APDTL. Pe langa faptul ca numerosi constanteni vor avea prilejul sa calatoreasca la preturi incredibile in Europa, acelasi avantaj il vor avea si restul europenilor care vor avea astfel ocazia sa viziteze litoralul romanesc, a precizat, la randul sau, Radu Stefan Mazare, primarul Constantei. De asemenea, aterizarea primului avion Ryanair la Constanta marcheaza un moment foarte important pentru judetul Constanta atat din punct de vedere economic, cat si social, cu implicatii multiple in viata judetului, a subliniat si Nicusor Constantinescu, presedintele Consiliului Judetean Constanta care a fost prezent si el la evenimentul de ieri. Implicarea CJC, ca detinator al unui pachet de actiuni la Aeroportul Mihail Kogalniceanu, in aceasta initiativa de atragere a Ryanair-una dintre cele mai mari companii low cost de pe mapamond- in traficul de pe aeroportul constantean este una cu rezultate benefice pentru dezvoltarea turistica a judetului, a aratat Nicusor Constantinescu. Totodata, Constantinescu a subliniat ca acest moment este numai inceputul, in sensul ca Ryanair nu va avea o exclusivitate de operare pe aeroportul constantean, dupa initiativa colosului irlandez, care dispune de peste 50 de milioane de pasageri anual, fiind asteptate si alte companii aeriene low cost sa deschida curse regulate cu plecare si sosire de pe Aeroportul Mihail Kogalniceanu.
MORE http://www.infoportal.ro/articol~din-economie~info-478319~irlandezii-de-la-ryanair-taxeaza-o-cursa-constanta-pisa-cu-doar-8-euro.html

[Le Clerk]

The US financial system crisis is affecting the whole world today, inlcuding Romania!

I fear the second half of the year :ohno:

Autor: Ziarul Financiar
Data: 16-07-2008



Broker Cluj: Lumea e in panica. E o nebunie totala si o lipsa de logica

Principalul indice al Bursei de Valori Bucuresti (BVB), BET, inregistra dupa prima parte a sedintei o scadere de 4,52%, dupa ce ieri a inchis cu o scadere de 5,6%.

SIF-urile au fost si astazi cele mai afectate, acestea coborand in medie cu 5,05%.

Corectia din ultimele doua zile este cea mai puternica de la inceputul perioadei de scaderi, in general, dupa o cadere masiva a pietei, investitorii sustineau cotatiile in sedinta urmatoare.

Actiunile Bancii Transilvania pierdeau si astazi aproape 7%, dupa ce in ziua anterioara au inregistrat o scadere similara.

Titlurile Broker Cluj erau pe minus cu 8%, acestea fiind suspendate de la tranzactionare in urma unui comunicat al societii privind convocarea unei adunari privind ratificarea deciziilor legate de fuziunea cu Transilvania Capital.

"Lumea e in panica. E o nebunie totala si o lipsa de logica", a declarat Petru Prunea, presedintele Broker Cluj.
Sursa: www.zf.ro/articol_179861

[Le Clerk]

FDI at 4.1 billion in the first 5 months of 2008.


Autor: Ziarul Financiar
Data: 16-07-2008



Investitiile straine directe urca cu 90,6% la cinci luni

Valoarea investitiilor straine directe s-a ridicat la 4,1 miliarde eruo in primele cinci luni ale anului, acestea avansand cu 90,6% fata de aceeasi perioada a anului anterior, se arata intr-un comunicat al Bancii Nationale a Romaniei (BNR).

In primele cinci luni ale anului trecut, investitiile straine directe s-au ridicat la 2,15 miliarde de euro.

Sursa: www.zf.ro/articol_179858

[nebunul]

^^ This year we may get the 10billions we were taking about ... fingers crossed :cheers:

[Le Clerk]

That'd be nice indeed. But I fear that the international financial crisis will also affect Romania's FDI. :ohno:

[nebunul]

YES and NO … IMO is 50/50 … as funds form US, UK and Spain (to name just few) may come to Romania … remember: emergent market, relatively low competition, good (above average) returns, no tax on reinvested profits etc

[Turnovec]

Bulgaria and Romania with Highest Industrial Raise in EU

Bulgaria, Romania and Ireland show the highest raise of industrial production in EU in May this year, Eurostat data shows.

The local industrial production registers a raise of 3,3% in May and 8,6% raise for the last year.

The raise of the Romanian industry in May is 0, 5%, and for one year - 4,1%.

The European industrial production has narrowed in May, compared to April and also compared to May last year.

The sharpest drop is in Lithuania (-7, 5%), Netherlands (- 6,0), Portugal (- 5,7% ) and Latvia (- 5,6%).

The industry in the Euro zone have tighten with 1, 9%, and of the European Union - 1,4%.

Compared to May last year the production in the Eurozone have decreased 0,6% and in the EU - 0,5%.


:cheers:

[Fallen]

cheers brothers :cheers:

[nebunul]

http://www.imf.org/external/pubs/ft/scr/2008/cr08208.pdf

[Le Clerk]

Business Standard
17/07/2008




Heidi founders plan new business in Romania


Massimo Polumbo and Konrad Hafner, founders of Heidi Chocolats Suisse, one of the main companies on the local chocolate factory, plan to start a new business in Romania, after withdrawing from Heidi’s management and selling their shares to Laderach Swiss company.

“When we came to , fourteen years ago, our goal was to create a large company and sell it. We are happy that the business was successful,” said Polumbo.

Heidi is the first foreign chocolate producer on the Romanian market. Main companies on the local market are Cadbury, Kraft Foods Romania, Heidi Chocolats Suisse and Supreme Chocolat.




This is very interesting....they sold a very faimous company they founded in Switzerland and now come with the money in Romania to open a new business here....:)

[Le Clerk]

Autor: Ziarul Financiar
Data: 17-07-2008


Petrom and Romgaz derived highest profits in 2007

The information centralised by the tax authorities, broken down by sectors, reveals the highest profit was reported on the crude oil extraction segment, with Petrom being the only such large company in Romania. Petrom was also the leader in 2006, with a gross income of 2.54 billion RON (723 million euros).

In second place was Sibiu-based Romgaz, with a taxable profit worth 540 million euros - the company operates in the field of natural gas drilling. Romgaz was not included in the 2006 ranking.

Next are two telecommunications companies that fell one place against the 2006 ranking, now positioned third and fourth, according to the ANAF data. According to the data available on the market, the two companies are Orange and Vodafone.

The mobile telephony operators reported 470 million euros and 346 million euros in taxable profits, slightly down from 2006, when they posted almost 466 million euros and 381 million euros respectively.

Automobile Dacia, fourth in 2006 with a gross profit worth 119 million euros, was no longer among the top ten companies in terms of profit in 2007.

In fifth and sixth position are two banks - BCR and BRD, whose profits stood at 340 million euros and 300 million euros, after the ANAF ranking allocated these positions to monetary intermediation operations.

Cement production fell from fifth position in 2006 to seventh in 2007, after Lafarge Romcim posted taxable profit worth 197 million euros last year.

According to data sent to the tax authorities, the company ranked eighth is a company that produces soft drinks. The gross profit stands at 185 million euros, and Coca Cola is the one whose business matches this level. It climbed one place since 2006, when it came ninth.

Sidex ranks ninth in terms of taxable profits for 2007, with a gross income of 177 million euros. The plant in Galati is registered as a manufacturer of ferrous metals, both raw and alloys.

ANAF data put Alro Slatina at tenth place, a company based in Olt county that operates in the field of aluminium smelting, which posted a gross profit worth 171 million euros.


Sursa: www.zf.ro/articol_179925

[joce23]

Romania sees largest growth in Europe for construction businesses :cheers:
Hotnews (http://english.hotnews.ro/stiri-business-3605963-romania-sees-largest-growth-europe-for-construction-businesses.htm)


Romania recorded in May the most important annual growth rate of the construction works in the entire European Union, with 31.5%. Romania is followed in rank by Bulgaria and Poland, with 16.3%, data published by Eurostat, the European Statistics Institute, reveal. Romania also had record levels in April and March, with 30% and 32.5% respectively.

The most important decrease of this market was recorded in Spain, Portugal and the Czech Republic (-10.8, -6.8 and -2.1%, respectively).

The Eurostat data for 13 EU states out of 27 indicate that the construction market increased 0.7%, compared to May 2007, while the average for the European currency zone shows a 1.1% decrease.

[nebunul]

^^ ^^
That'd be nice indeed. But I fear that the international financial crisis will also affect Romania's FDI. :ohno:

YES and NO … IMO is 50/50 … as funds form US, UK and Spain (to name just few) may come to Romania … remember: emergent market, relatively low competition, good (above average) returns, no tax on reinvested profits etc

We may be lucky ... IMO we should be OK for another 1-2 years ... at least

[Le Clerk]

^^ If the west enters recession, Romania will also be hit hard, because banks will toughen lending investments (which make a serious percentage of FDI in Romania and any other country). See article (http://letters.washingtonpost.com/W0RH01805D0CB4559106C2B0428330) in Washington Post about the possibility that the whole EU enters in recession following US.

Also, consider the fact that a big chunk of Romania's GDP growth is given by the construction sector, which is based more than 50% on bank lending. Bank rates have already gone up due to inflation in US and Eurozone, while housing prices have gone down. So, less incentives for investors to enter new projects. Same goes for industrial investments.



Reuters
Wednesday July 16 2008



BUCHAREST, July 16 (Reuters) - Romania increased its spending plan for
this year in a budget revision on Wednesday, but left the deficit
target unchanged at 2.3 percent of the gross domestic product, the
government said in a statement.

The finance and economy ministry has said more spending was possible
without hurting the deficit goal thanks to better nominal GDP forecasts
which boosts revenue expectations.

"The executive approved ... the second budget revision this year,
increasing total spending to 4.4 billion lei ($1.95 billion), and the
revenues plan to 3.8 billion lei," the statement said.

Almost 2 billion lei would be directed to investments in transport
infrastructure.

Other funds were allocated for new sport facilities, the expansion of
water pipe networks in rural areas, defence acquisitions, and increases
in subsidises for farmers.

Finance minister Varujan Vosganian told Reuters earlier on Wednesday
there are very high chances for a new budget revision in the fall and
that he hoped the target would be kept, despite political pressure for
higher spending.

Opposition parties have racked up demands for more social spending in
recent months to offset the impact of soaring food and energy costs on
the poorest Romanians.

But the central bank and international observers have urged Bucharest
to tighten wage and fiscal policies to avoid adding inflationary
pressures to the overheated economy, which beat expectations to grow
8.2 percent in the first quarter.

[nebunul]

Yes partially correct but ... bad time for some means good times for others ... and investors (own capital and not only) would move their money where the return is better ... and where supply is (still) low ... BTW Warsaw has ~ 2.7 mil sqm of modern office space ... Bucharest probably has (if) ~ 1million
50/50 IMO :cheers:

[Le Clerk]

Bucharest has surpassed the 1 million sqm office space at the begining of this year. Dunno what is the percentage now, but yes, the city needs to get closer to Warshaw in terms of office space. :cheers:

[Le Clerk]

^^
HotNews.ro
Joi, 17 iulie 2008, 12:11 English | Regional Europe




Real estate market falls in Hungary. Romania may follow



The real estate market in Hungary saw two critical points during the past few years, just as Romania did: the accession to the European Union and an interior economic crisis. One year before and one year after the accession to the EU, the price for real estate properties kept growing. After two years, the growth ceased, but the investments in commercial spaces were booming.

In brief:
- The real estate market crisis in Hungary came in 2007, when the Government imposed anti-inflation measures;
- The market is divided between Eastern and Western Hungary. In East, near the Romanian border, the prices doubled because of Romanians massively buying cheap homes.

Just before Hungary's accession to the EU in 2004, the rice for a built square meter in Budapest reached 3,200 euro. Two years after the accession, the price fell between 1,000 and 1,700 euro. "What happens now in Romania is what happened in Hungary last year. Everyone wonders where will the prices go. Everyone speaks about a price drop, but the situation is not as dramatic as it sounds: the prices decrease, but not that much", says Horváth László, real estate market analyst for Ingatlan.net, the Hungarian real estate portal.

According to Hungarian experts, 2005 - 2006 was an abeyance period, when the main growth was seen in the commercial space market. In 2005 and 2006, the total surface of commercial spaces doubled in Hungary, investments reaching 20 billion euro.

In 2007, the real estate market decreased, after the Government decided to take severe measures against the inflation - which reached 9% - the steps taken into the process including rougher conditions for real estate credits.

According to Nicholas Leigh-Wood, manager of the Midas European Property UK-based real estate agency, over 21,000 apartments were for sale in Budapest in 2007, out of which 30% remained unsold at the end of the year. Still, 95% of Hungarians own a home, this being largest percentage in Europe.

At this moment, a one-room apartment in Budapest costs one third of its equivalent in Bucharest, as most properties do, after prices in Budapest fell only 0.5%, compared to last month.

[Le Clerk]

At this moment, a one-room apartment in Budapest costs one third of its equivalent in Bucharest, as most properties do, after prices in Budapest fell only 0.5%, compared to last month.

One way to conquer Budapest: send the 300.000 people in search of homes in Bucharest to buy them in Budapest. :D

[nebunul]

The problem with Budapest (~40% of Hungary's GDP) is that ... is too big for its country ... thus very vulnerable ... and Bucharest (again) has far less office space/logistics available (in other words is still underdeveloped). Regarding residential sector in Romania ... yes, it is just a matter of time (I'd say one or two more years of growth simply because the supply/demand imbalance) ... prices are ridiculous already ... more expensive than Berlin :nuts:

[PaulFCB]

We don't call Budapest the only city in Hungøry for nothing :).

[tomis3]

Source: www.wsj.com

Emerging Europe is likely to attract more investment in the next year than Asia, Russia and South America, with Poland and Romania proving to be the most attractive venues, a survey of private-equity groups has found.

More than two thirds of 100 private-equity professionals quizzed in a survey by data provider Mergermarket said the region was the most likely destination of investment for Western private-equity firms.

This was nearly double the number who thought Asia and Russia would attract the most investment, while one in 10 thought that South America would be the prime location for Western equity investment.

The report was compiled by Remark, the market-research division of Mergermarket, in conjunction with accountancy KPMG LLP, investment bank Unicredit and law firm Baker & McKenzie.

To bolster private flows into the region, 71% of respondents said, governments in the region should implement favorable tax incentives to encourage external investment. Half thought that governments should reduce protectionist measures against foreign firms. The survey found that, in Eastern Europe, Poland and Romania attracted the most attention.

[Le Clerk]

Business Standard
18/07/2008




Romania’s advantages and disadvantages for Voestalpine investment


Romania currently is in the best position to attract a €5.5 billion investment by Austrian Voestalpine steel producer. Three other countries are competing for the largest Austrian investment abroad ever, namely Bulgaria, Turkey and Ukraine.

Romania’s advantages are the major capacity of Constanta Harbor, the Danube-Black Sea channel allowing for rapid transportation, water needed for raw material processing, inexpensive and qualified labor force, inverse taxation for VAT paid for raw materials at customs, and facilities for road and railroad infrastructure. Its weak points are high land prices and a ban imposed by the European Union on state aid. Ukraine, Romania’s main rival in terms of this investment, is allowed to grant state aid, as it is not a member of the European Union, according to a General Manager of the Ministry of Economy and Finance, Petru Ianc.

“Some 50 percent of the future steel plant production will be exported to Austria, so the maritime infrastructure is very important for the Austrian group. Romania is in the best position in this chapter because of the Danube-Black Sea channel,” said Ianc.

According to government sources, Voestalpine has redrawn its investment project to fit the 600 hectares available for sale in Agigea, close to the southern Romanian Lazu village, in Constanta County (not far from the Black Sea). The company already contracted a 96.4 ha plot in the area.

By the end of the year, the company is to announce a final decision on the location of the future steel plant, perhaps as early as August or September. A memorandum between the Romanian government and Voestalpine is to be signed in the coming weeks. Sources said that the signing will take place on 31 July. A memorandum with Ukraine has also been signed already, while a similar document will be signed with Bulgaria and Turkey, according to Voestalpine representatives. As far as is concerned, a feasibility study is ongoing.

Voestalpine’s Head of Corporate Communication, Peter Schiefer, told Business Standard that the investment will be made with the steel producer’s own funds. “The company has an annual cash flow worth €1.5 billion. The €5.5 bln investment will be made gradually and annual amounts to be spent for the steel plant construction can be supported without difficulties by the company, and with no need for a loan," he said. A loan will be considered only if large unscheduled investments are required, Schiefer added.

[Le Clerk]

Autor: Ziarul Financiar
Data: 18-07-2008


Gelin: Bucharest Stock Exchange on the brink of demise


The Bucharest Stock Exchange is on the brink of demise after feeding off illusions - instead of professional investors, the BSE has relied on local clientele; mainly speculators that pursue rapid profit and expect the market to advance day by day, which cannot perpetuate, says Patrick Gelin, the chairman of BRD-SocGen, the second-largest bank on the market in terms of assets.

"No financial market is created that way. It was the non-residents, who are now gone, that made the market and the increase is over because local speculators cannot support it, so everybody is backing out. The market can only live with local professional investors - insurance companies, pension funds, it cannot rely on non-residents and even less on retail clients. Institutional investors create the market, but they have something to invest their money in. You cannot build a market from four or five liquid shares, you need more than ten to do that," BRD's top man says.

The banker does not see how the stock market can rebound given that non-residents specialising in financial transactions are no longer coming to the market.

"The Bucharest Stock Exchange needs to reflect on what can be done, to look at the excessively high listing costs and at simplifying the bureaucratic procedures to encourage new issuers."

As an example, he provided the bank's strategy to internalise its subsidiary BRD Securities, which has dragged on for months.

"It has become a nightmare because of the bureaucratic problems at CNVM (National Securities Commission) and at the Stock Exchange."

The BET index yesterday bounced back by almost 4%, after the Stock Exchange lost almost 10% of its capitalisation on Tuesday and Wednesday. The highest increase yesterday was that of Erste Bank, 9%, the majority shareholder of BCR, while BRD's shares rose by over 4.5%.

As for the new wave of turmoil on foreign markets, which has also caused players on the Bucharest Stock Exchange to exit, Gelin is seriously wondering what consequences it will have for Romania.

"The foreign crisis is not over, on the contrary, it will last for at least another year, with consequences that are impossible to anticipate for Romania. It remains to be seen what the repercussions will be, but the main question is whether we will have slight or serious economic slowdown."

On the other hand, the banker believes that the stabilisation of the economy after four or five years of exceptional growth would be natural. "Romania needs a bit of a slowdown to return to healthier economic foundations."

From his talks with corporate clients, Gelin says they already sense a decrease in consumption, especially for non-foods. The economic slowdown would also temper wage increases.

He offers similar forecasts for the banking market: the downward trend of consumer lending will be confirmed in the second half of the year, the increase in loans in general will be slower, the bank's operations will also slow and salaries will no longer increase as they used to, as a result.


Sursa: www.zf.ro/articol_180134

[Le Clerk]

Business Standard
17/07/2008




Rompetrol CEO Dinu Patriciu: Romania needs 8-10 percent flat tax


Romania’s wealthiest businessman, Dinu Patriciu, told Business Standard in an exclusive interview that Romania needs to lower its flat tax to 8-10 percent from the current 16 percent, to keep a competitive advantage for foreign investments. Patriciu is the CEO of oil company Rompetrol, in which he owns a 25 percent stock.

“In Moldova, the tax on companies profit is 0. In Bulgaria, flat tax is 10 percent. Romania cannot keep missing large investments with a 16 percent flat tax,” Patriciu said.

Lowering the flat tax to 8 or 10 percent would lead to higher revenues and to economic balance and will increase the country’s stability, he told Business Standard.

Patriciu last year sold 75 percent of Rompetrol to Kazach oil and gas group KazMunaiGaz.

Rompetrol sources said that, as of last month, the company is undergoing a restructuring process and that some 1,000 employees are to be laid off by the end of the year. Compensation packages will amount to 6-9 salaries.



^^ I think he is right. We need lower taxation here.

[RODINVEST]

10 is to much. We forget that we have tons of pensioners. 14 mabey 12 is in order.

[nebunul]

IMO current ZA flat 16% is just fine ... we've got 0 tax on reinvested profit ... I think that more urgent measures should be taken on employment taxation ... this should be lower ... IMO

[Le Clerk]

^^ Exactly....if you add employment taxation (pension fund, healthcare, unemployment fund etc) other than the 16% to the 16 flat tax, you are getting more than 40% taxation, which is huge. That's where the gov should work at.

[Gekko's]

I completely agree with Patriciu. A 8-10% flat tax would attract more foreign investments

[nebunul]

^^ I don’t. I want them (him) to create more jobs; not to make more billions from low taxes ... We can not bet our future on (maybe:nuts:) investors/investments in order to cover our budget needs ... there is enough fiscal deficit; we can not "ask" for (even) more ... we have not even got basic infrastructure yet. Where would the money come from?! Rely on internatioanl markets?!?!:nuts: NO thanks :ohno: ... we do this too much already ...
It has got to be a balance. And the best example is the current financial crisis ... if the investors fail to come we'd be fucked ... Bulgaria (10% flat tax AFAIK), for instance, may have this problem if FDI is going to decrease considerably ... which it will ... soon ... IMO

[Le Clerk]

Yes, indeed. Romania has very good managers which most times are promoted and leave the country to work at the HQ of multinational companies. With this move, I hope more and more multinationals establish international operation centers in Romania so Romania keeps its brains here. :cheers:

BTW: The view from that balcony of BAT London is mindblowing. :cheers:

^^

Ziarul Financiar
18/07/2008


Romanian running InBev's biggest European business

Ten beer plants with 9,000 employees and over 1.1 billion euros in annual turnover are the figures behind InBev's operations in Russia, managed since the beginning of this year by Mihai Albu, the Romanian who left the helm of Bergenbier in 2006.

"If I can make it there, I can make it anywhere in the world," Mihai Albu, 46, reasoned when weighing the proposal from Europe's largest beer producer InBev, a company with turnover worth over 14.4 billion euros last year, which Albu has been employed with since 1996.

"At the beginning of November 2007, I was flying to Havana with the InBev chairman of Central and Eastern Europe for a board meeting of our Cuban division, whose chairman I was at the time. Somewhere above the North Atlantic, he asked me directly if I wanted to take over the management of operations in Russia, and added that he would understand if I refused for personal reasons," recounts Albu.

As he was already an expat (he had been based in Prague for two years) and he knew what it was like to relocate and move your family from one country to another, in the week after the proposition, Mihai Albu consulted his family and they decided to accept.

"The decision making process took a week, and I am sure we would have made the same decision even if we had discussed things for another month. At the end of November, I was starting to take over operations and my wife was already looking for a home and a school for our son."

The factors that persuaded him to accept the position of chairman of Sun Interbrew Russia, a company which holds a 19.2% market share, were mainly professional ones: "Managing a mega-business, increasing my visibility within InBev, the possibility to replicate everything I had done in Romania and Central Europe in the biggest country in the world."

From his position as chairman of Sun Interbrew, Albu says the current dynamics of the Russian beer market is somewhat similar to what happened in Romania a few years ago.

"Market domination by 4-5 global players, a flood of new brands, the launch of regional brands nationwide, a lack of consumer loyalty, the fragmentation and consolidation of sales channels and the entry of international retail players on the market. All of these are happening now in Russia, but change is much more rapid and everything happens on an enormous scale compared with Romania," says Albu. According to the chairman of Sun Interbrew, in Russia, demand exceeds the ability to develop and adapt the infrastructure (transport, communications, workforce).

"We have 5 plants and over 9,000 employees, which cover a universe of sales points spread over an extensive area that covers 11 time zones. Our sales operations never stop, as when sales agents in Vladivostok come home, those in Kaliningrad go to work."


Sursa: www.zf.ro/articol_180137


Autor: Ziarul Financiar
Data: 17-07-2008



Romanian manager at Raiffeisen Kosovo

Raiffeisen International, which manages the operations of the Austrian group in Central and Eastern Europe, has appointed Bogdan Merfea to the helm of the subsidiary in Kosovo, Raiffeisen Bank Kosovo J.S.C, whose assets stand at 477 million euros and has 600 employees. Merfea, 50, had previously coordinated the Sales and Distribution Area of Raiffeisen Bank Romania. "I'm glad that a member of our team was promoted to the Raiffeisen International Group. It is no doubt an acknowledgement of the fact that we have a very valuable management team," Steven van Groningen, chairman of Raiffeisen Romania said.
Sursa: www.zf.ro/articol_179935

:cheers:

[Le Clerk]

The Money Channel
Vineri, 18 Iulie 2008



Companiile româneşti se pot implica în construcţii şi modernizarea infrastructurii din Turkmenistan


Companiile româneşti se vor putea implica în construcţii civile şi industriale, reţele de alimentare cu apă, precum şi proiecte de modernizare a infrastructurii feroviare şi portuare, potrivit acordului bilateral de cooperare economică semnat de premierul României şi preşedintele Turkmenistanului.

În baza parteneriatului, va fi înfiinţată Comisia interguvernamentală româno-turkmenă de cooperare economică şi tehnico-ştiinţifică, care va facilita accesul companiilor româneşti la proiecte de colaborare în domenii în care Turkmenistanul are nevoie de ajutor.

[Le Clerk]

HotNews.ro
Vineri, 18 iulie 2008, 23:06 English | Business


Car sales decrease, total market sees growth on commercial vehicles

The sales of new cars decreased 1%, to less than 145,000 units, during the first half of the year, while sales of commercial vehicles increased 30%, to more than 29,000 units. The total market thus saw a 3.7% growth. Renault Clio remains the best selling import car, Hyundai Tucson is the most coveted SUV and Sandero makes its début in the general ranking, with its 1,000 units sold already. Daewoo also sold 5,000 units, although is shut its production since June.

The total market reached 176,000 cars, some 6,000 more than during the first half of 2007. The interior production increased 8%, up to 133,000 units, while export increased 31%, up to 77,000 units. The imports also increased 15%, up to 125,000 cars. The bus and commercial transport cars sales increased strongly, 84%, up to 2,200 units.

The Dacia sales decreased 10%, to some 40,000 units, 75% of them being Logan models. Skoda ranked second, with 12,700 units.

This is good news: less money spent for personal consumption, and more money spent for the economy.

[Le Clerk]

Nokia started withh 500 employees. 5 months later, Nokia has 1.200 employees, and plans to have 3.500 employees by the end of year. :cheers:



Autor: Ziarul Financiar
Data: 21-07-2008



Nokia hiring 15 - 100 people each week

According to John Guerry, managing director of the Nokia plant in Jucu, the Finnish mobile phone producer intends to expand the range of phones produced in Cluj, however the employees still have to receive training to assemble the latest generation phones. "In Romania, we do more training than in Finland, but people here are more enthusiastic. N series phones are difficult to assemble, and we have only been building phones for 6 months. Upon completion of the Romanian investment, Nokia will have an extensive portfolio of phones manufactured at the Jucu plant," the director of the Nokia Romania plant told ZF Transilvania. The Finnish group started production in February, whilst the first model assembled was the Nokia 1200. "We currently have 1,200 employees, but we are hiring in between 15 and 100 staff a week, in order to reach 3,500 by the time the construction of the plant is completed," said John Guerry. The number of employees has almost tripled in five months, considering that the plant started production with 500.


Sursa: www.zf.ro/articol_180330

[Le Clerk]

Flux.md
Cotidian Naţional Nr.2008130 din 21 iulie 2008

The Romanian counties Tulcea, Galati, and Braila, Cahul and Cantemir regions in Moldova, and Odessa and Reni regions in Ukraine have set up a trans-border association, with headquarters in Galati, with the goal of applying jointly for EU funding for economic and infrastructure cooperation purposes.

Galati should be able to take advantage of its good position at the border with both Ukraine and Moldova, and regain its status of major commercial point in E Romania. As Constanta is the most important commercial point in Romania, due to the port at the Black sea, Galati could become a very important commercial center due to the neighbourhood with Ukraine and Moldova and the port. :cheers:

This city needs a highway all the way to Ua/Md border.




Moldova se împacă cu România de dragul fondurilor europene?

Mai multe primării din România, Moldova şi Ucraina au înfiinţat o asociaţie transfrontalieră cu personalitate juridică română pentru a obţine finanţare din partea Uniunii Europene (UE).

Euroregiunea Dunărea de Jos, din care fac parte unităţi teritorial-administrative din România, Republica Moldova şi Ucraina, se va transforma în asociaţie transfrontalieră, în speranţa că în felul acesta, proiectele comune vor avea mai mult succes şi vor obţine finanţarea UE pentru realizarea de proiecte de infrastructură şi dezvoltarea mediului de afaceri. Numai anul acesta, noua asociaţie ar putea atrage de la UE în jur de 27 de milioane de euro.

Administraţiile locale din euroregiunea Dunărea de Jos, din care fac parte unităţi administrative din cele trei ţări, au semnat un acord de transformare a euroregiunii în asociaţie de cooperare transfrontalieră cu personalitate juridică română, pe motiv că România este singura ţară membră UE.

În acest sens, regiunile care, eventual, ar putea beneficia de finanţare suplimentară din partea UE sunt consiliile judeţene din Galaţi, Tulcea şi Brăila din partea României, consiliile raionale Cantemir şi Cahul din partea Republicii Moldova şi Consiliul Regional Odesa şi raionul Reni din Ucraina”.

Preşedintele Consiliului judeţean Tulcea (România), Victor Tarhon, a precizat că asociaţia de cooperare transfrontalieră îşi va avea sediul la Galaţi şi va dobândi personalitate juridică română. „Transformarea euroregiunii Dunărea de Jos într-o asociaţie cu personalitate juridică devenise necesară în condiţiile în care ritmul de realizare a proiectelor comune nu a fost unul mulţumitor până acum. În plus, o asemenea entitate are şanse sporite să atragă fonduri europene destinate dezvoltării regionale”, a menţionat Victor Tarhon. Sumele alocate de UE proiectelor transfrontaliere sunt destule de mari. Pentru anul acesta alocaţia UE pentru proiectele trilaterale România-Republica Moldova-Ucraina se ridică la 27 de milioane de euro.

Potrivit presei din România, asociaţia de cooperare transfrontalieră Dunărea de Jos îşi va concentra eforturile pe realizarea proiectelor din domeniul protecţiei mediului, al dezvoltării infrastructurii, din domeniul social şi al schimbului cultural. În domeniul protecţiei mediului există proiectul ,,O Dunăre curată’’, care prevede salubrizarea fluviului de la Brăila şi până la vărsarea în Marea Neagră.

Al doilea mare proiect este modernizarea infrastructurii transstatale pe ruta Odesa-Izmail-Reni-Giurgiuleşti-Galaţi. Al treilea proiect, tot de infrastructură, prevede realizarea unei căi de comunicaţii pe Dunăre, între localităţile Isaccea din judeţul Tulcea şi Orlovka din Ucraina, fiind vorba de o linie de bac, destinată transportului mărfurilor peste Dunăre.

Asociaţia de cooperare transfrontalieră Dunărea de Jos îşi propune să încurajeze şi colaborarea în plan economic între mediile de afaceri din România, Republica Moldova şi Ucraina.

[Le Clerk]

Business Standard
22/07/2008



Poor infrastructure chasing away two thirds of foreign investments:bash:


Romania is on the short list for all major investments in Central and Eastern Europe, but two out of three investment projects are lost due to poor infrastructure, which implies significant logistical costs, according to McKinsey Romania’s Managing Partner, Andrei Caramitru, for Business Standard.

McKinsey is the largest strategic consulting company worldwide. Most of the firm’s clients, or over 800 of the top 1,000 companies in the world, see Romania as one of the major 4-5 investments targets globally.

“Romania’s advantages are related to labor costs and sales market, but the country looses when it comes to infrastructure. Logistical costs are so high, that investors in certain industries have cheaper production costs in Poland or the Czech Republic, even though the labor force is twice as expensive,” Caramitru said. This also explains a focus on foreign investments close to Romania’s border with Hungary, he added.

A recent investment which was lost due to poor infrastructure was that of German Daimler group, which chose Hungary over Romania for a Mercedes Benz factory, worth €800 million.

Speaking of labor force, Caramitru said one of the most important factors for Romania’s economic growth is making good use of work force in rural areas, given some 30 percent of the country’s population works in a totally inefficient agricultural system. “If we manage to direct the migration flux from the countryside to Romania’s cities, we can provide some 50,000-100,000 people every year to developing sectors, which means relatively a cheap available labor force for foreign investors,” according to Caramitru.

He told Business Standard that Romanians have become increasingly sophisticated consumers, similar to western consumers, and Romania is the largest sales and consumption market in the region. The country does not have production capacities for such a market, however, and many products are imported. “I expect that, in the medium term, increasingly more companies will produce goods here that are consumed locally,” Caramitru said.

[Le Clerk]

Business Standard
22/07/2008




Turner Broadcasting opens an office in Bucharest


Turner Broadcasting, owner of CNN, Cartoon Network, Boomerang and TCM TV channels, has opened an office in Bucharest to be known as Turner Broadcasting Romania.

According to company officials, this move is a result of an increasing presence in Central and Eastern Europe, and Turner Broadcasting’s focus on the Romanian television market.

The office’s Distribution Manager is Cristina Valasutean, who previously worked for HBO Romania. “We believe that once we open the new office we can collaborate closer and more directly with our clients,” said Distribution Manager for Central and Eastern Europe, Gergana David.

[Le Clerk]

Autor: Ziarul Financiar
Data: 22-07-2008


Carrefour speeds up expansion with 7 hypermarkets a year

Carrefour is expanding its hypermarket network in Romania by 7 stores a year and expects to reach around 40 stores by 2012, according to a report released by Hyparlo, a division of the French group. Investments in expansion are estimated at 450 million euros for the 2009-2012 period.

The French are attempting to preserve their leading position in terms of sales on the hypermarket segment, considering that, over the last two years, competitors that entered the market more recently, Real and Kaufland, left the Carrefour network behind in terms of the number of stores.

According to Hyparlo (the company that holds the Carrefour hypermarkets in Romania, as well as several stores in France), Carrefour's market share in the hypermarket sector will stand at around 50 percent by 2012. According to 2006 data reported by Romanian hypermarket operators, the French network had an around 47 percent market share.

Carrefour expects its sales to overshoot the one billion-euro mark by the end of this year, when it will have 18 hypermarkets on the local market. At present, the only retailers with turnovers in the range of billions of euros in Romania are German groups Metro (Metro Cash & Carry), Real Hypermarket and Rewe (Selgros Cash & Carry, Billa, Penny Market). According to market research company Planet Retail, modern retail in Romania stood at 7 billion euros in 2007.

Last year, Carrefour also entered the supermarket segment in Romania, sooner than it had originally planned, after it took over the 21-store network Artima.

The first Carrefour hypermarket in Romania was opened in 2001, being operated by Hyparlo. In 2006, the Carrefour group fully took over Hyparlo, in an international transaction, and, on the Romanian market, this change led to an acceleration in the network's expansion. In 2008, the French retailer will have the highest expansion rate since 2001 until the present, after seven hypermarkets opened in a year. According to the business plan presented as part of Hyparlo's public buy-out offer, this expansion rate will be preserved until 2012.

[Le Clerk]

Autor: Ziarul Financiar
Data: 22-07-2008


Romanian business owners pay their executives better than multinationals


The major Romanian companies pay up to 20-30% more to attract skilled people from multinationals, who have experience at large companies with a global presence, but also to offset the risks associated by managers with a career in a Romanian-held company.

"We are getting more and more requests from top managers who explicitly tell us that they want to work for Romanian companies and moreover, turn down job offers from multinationals," says Daniela Necefor, managing partner of executive search company Total Business Solutions (TBS).

A chief executive officer of a Romanian company may get as much as 10,000-15,000 euros in net amount per month, whereas only some of the top multinationals with thousands of employees pay this much money to the most powerful people in their management structures.

"The major Romanian businesses are the ones who reward their executives most generously," believes Mihaela Damian, managing partner of executive search company Stanton Chase.

After a period of fast-paced growth, entrepreneurial businesses feel a stronger need for experienced executives. "We had one case where, in order to take the position of CEO at a Romanian company, an executive asked for and was offered a twice-as-high salary (from 5,000 to 10,000 euros) and was paid six months in advance. In a Romanian company with turnover worth over 100 million euros, the CEO gets 15,000 euros plus bonuses, the CFO (chief financial officer) more than 7,000 euros and the COO (chief operating officer) more than 5,000 euros. Then they also get bonuses and shares after a certain period," says George Butunoiu, owner of the consultancy firm of the same name.

The risks managers associate with jobs in Romanian companies include vulnerable entrepre-neurial businesses, less predictable market trends, higher subjectivity in management (given that almost all business owners hold executive positions), lack of procedures, of the prospects of an international career, lower levels of job security-owners sack people more readily. "Practically everything that is missing compared with a similar position with a multinational has to be compensated with money," Butunoiu explains. Another reason for the higher salaries in Romanian companies is the fact that multinationals have clearly defined salary brackets, which do not allow for very high variations in the salary for a specific position, while an entrepreneur is much more flexible when it comes to obtaining the interest of top executives. One of the constraints of multinationals comes from the fact that the executives of Romanian branches may not, for instance, get higher salaries than their counterparts in other European branches.

On the other hand, multinationals provide not only the expertise of a worldwide group and more formal procedures, but also the advantage of international experience via expatriation.


Sursa: www.zf.ro/articol_180451

[nebunul]

Ukraine?!?!

Voestalpine Undecided On Location For 5.5Bln EUR Investment
http://www.jurnalul.ro/articole/129899/voestalpine-undecided-on-location-for-5.5bln-eur-investment
21/07/2008

Romania lost ground in the competition for 5.5 billion Euro investment from Austria's Voestalpine. The Linz based company plans to build a still mill on the Black Sea shores, which will create some 5,000 jobs, take some 700 hectares to build, and start producing by 2013. More than half of Voestalpine's production is located outside Austria, the group employing a total of 40,000 people.
Ukraine looks like the winner for this investment, given that the country is not a member of the European Union, as Romania is, hence its regulations on carbon dioxide emissions are more lax.
Voestalpine AB spokesperson Peter Schiefer said the company already signed on July 7 with Ukraine a memorandum of understanding, and it planned to do the same, over the summer, with Bulgaria and Turkey. There is no such signing ceremony in sight for Romania.
On July 15, Maryna Soroka, the spokesperson for Ukraine's PM Yulia Timoshenko, said, after Timoshenko's meeting with Austria's chancellor Alfred Gusenbauer, that Voestalpine chose Ukraine for its 5.5 billion investment which is to be developed at Pivdeni, in the Odessa region.
However, Bloomberg quoted Voestalpine officials rebuffing the statement and saying the company will make a final decision at the end of 2008, with the number of possible locations scaled down from four to two by October.
Real-estate agents ARCA East Invest, based in Bucharest, and Chayton Capital, based in London, recently stated they would sell to Voestalpine 96 hectares of land in the Agigea region.
Romania's minus is also its plus: as a EU member state it provides the guarantees of political stability which Ukraine cannot, while Agigea is close to the Constanta port, the only Black Sea port that can dock ore carrying ships of 150,000 tons.

[joce23]

Romania ranked fifth in Europe for traffic congestion
HotNews.ro (http://english.hotnews.ro/stiri-top_news-3662241-romania-ranked-fifth-europe-for-traffic-congestion.htm)


Romania is ranked 5 in Europe in a listing of traffic congestion on the roads, a Cushman & Wakefield report reads. The top is lead by Germany, Great Britain, Portugal, Netherlands and Romania.

The European Distribution Report set up by Cushman&Wakefield shows that Constanta, Romania's biggest port registered the biggest processed merchandise volume - a 277.7% increase in 2007 as compared to 2004. According to quoted sources, the increase is mainly due to the new commercial routes between Asia and Europe.

[Le Clerk]

Ukraine?!?!

Voestalpine Undecided On Location For 5.5Bln EUR Investment
http://www.jurnalul.ro/articole/129899/voestalpine-undecided-on-location-for-5.5bln-eur-investment
21/07/2008

Romania lost ground in the competition for 5.5 billion Euro investment from Austria's Voestalpine. The Linz based company plans to build a still mill on the Black Sea shores, which will create some 5,000 jobs, take some 700 hectares to build, and start producing by 2013. More than half of Voestalpine's production is located outside Austria, the group employing a total of 40,000 people.
Ukraine looks like the winner for this investment, given that the country is not a member of the European Union, as Romania is, hence its regulations on carbon dioxide emissions are more lax.
Voestalpine AB spokesperson Peter Schiefer said the company already signed on July 7 with Ukraine a memorandum of understanding, and it planned to do the same, over the summer, with Bulgaria and Turkey. There is no such signing ceremony in sight for Romania.
On July 15, Maryna Soroka, the spokesperson for Ukraine's PM Yulia Timoshenko, said, after Timoshenko's meeting with Austria's chancellor Alfred Gusenbauer, that Voestalpine chose Ukraine for its 5.5 billion investment which is to be developed at Pivdeni, in the Odessa region.
However, Bloomberg quoted Voestalpine officials rebuffing the statement and saying the company will make a final decision at the end of 2008, with the number of possible locations scaled down from four to two by October.
Real-estate agents ARCA East Invest, based in Bucharest, and Chayton Capital, based in London, recently stated they would sell to Voestalpine 96 hectares of land in the Agigea region.
Romania's minus is also its plus: as a EU member state it provides the guarantees of political stability which Ukraine cannot, while Agigea is close to the Constanta port, the only Black Sea port that can dock ore carrying ships of 150,000 tons.

This article says nothing. Actually, it says that Tymoshenko said that VA chose UA, while VA denies. So, I think we only have some political statements, which do not guarantee anything, but some political advertising.

[nebunul]

^^ Sper sa pateasca si ei ce-am patit noi cu Mercedes :nuts::cheers:

[joce23]

New shipping line from Ghent to Constantza
http://www.investinflanders.com/en/news_details/default.aspx?id=dd785920-4190-493d-bd1b-3f2f0fba41ac&news=New+shipping+line+from+Ghent+to+Constantza&parent=58a62f14-211c-43f6-8ef3-1544bab7b04c


A new shipping line to connect Flanders with the eastern and central European countries is about to start, for evaluation purposes. It concerns a shortsea shipping route between the ports of Ghent and Constantza and inland waterway route.
The project was initiated to meet a big increase in freight movements between the two regions. Most of the freight traffic between Flanders and central and eastern Europe goes by road. The new shipping line is badly needed to provide a lasting solution to worsening road congestion, rocketing fuel prices, motorways tolls, harmful emissions and other disadvantages of road transport.

Starting in September this year, services will run under the name ILDE Line to examine the feasibility of an efficient and cost-effective connection. They will cover the route between the Port of Ghent and Romania’s port of Constanza on the Black Sea. Their cargo will be transferred onto barges and shipped up the River Danube to Romanian, Bulgarian, Hungarian and Serbian inland ports. These are the main transport nodes for cargo that is shipped to and from western Europe.

The new line will be handled by Fast Lines Belgium, in close cooperation with Agro Maas Belgium and Mainrom Line. Several Flemish and eastern European port companies and shippers are involved in the project. It is partially financed by the Flemish Foreign Policy Department. (source: ILDE project press release)

More info: ILDE project (http://www.ildeproject.org/)

[nebunul]

:cheers:

[Le Clerk]

^^ Sper sa pateasca si ei ce-am patit noi cu Mercedes :nuts::cheers:

:D

PS: Yo tot nu inteleg de unde o sa faca VA rost de teren (adica de restul de 500 ha) dupa ce au cumparat 100 de la Chapman (pe care, daca stau sa fac calcule, au dat in jur de 100 milioane EUR :nuts:)

[Le Clerk]

Autor: Ziarul Financiar
Data: 23-07-2008


Smithfield bets on small farmers

Smithfield Ferme, the farm division of the US-based Smithfield group, which posted turnover worth 100 million euros last year, will seal partnerships with small farmers in Timis county and neighbouring counties in order to support the company's development. It will use a business model commonly used on foreign markets, but also promoted in Romania by dairy producers.

"We currently have 50 contracts in various stages of negotiations with small farmers in Timis, Arad, Caras, and Bihor county, 24 of them being in advanced stages. Under this partnership, Smithfield provides the expertise, the technology and the raw materials, while farmers handle the investment part, and access structural funds. Ultimately, Smithfield buys the livestock reared by the farmers," said Bogdan Mihail, general manager of Smithfield Ferme.

Mihail took over at the helm of Smithfield Ferme at the beginning of this year, after he left his positions as vice-president and chief executive of local spirits producer Prodal '94.

He added that the project was dedicated to farmers and that 8,000 pigs could be reared per production cycle.

Although swine fever affected the business of the American group last year, company representatives say production outside their farms does not incur the risk of the disease returning; a disease that cost the Americans 11.5 million euros in 2007.

"This type of partnership is widespread worldwide, while locally it has already been tried out by players on the diary market, such as LaDorna and Danone. It cannot have a negative impact on Smithfield's business," said Mihail.

American giant Smithfield, with a global turnover worth around 9 billion euros, has investments underway worth around 100 million euros on the local market, in the construction of new farms and in the modernisation of old ones, as well as in the construction of a feed mill. This is part of the overall investment conducted by Smithfield on the Romanian market so far, worth 600 million dollars (381 million euros). By the end of this year, investments in Smithfield Ferme will amount to 500 million dollars (318 million euros).

Smithfield is involved in pig rearing, as well as agriculture and livestock feed. The farm division of the American group owns 10,000 hectares of land and has rented plots that cover another 10,000-15,000 hectares in the Banat area (Western Romania).


Sursa: www.zf.ro/articol_180620

Nice way of doing business! :cheers:

[Le Clerk]

HotNews.ro
Miercuri, 23 iulie 2008, 15:28 Actualitate


Efectul romanilor care isi fac cumparaturile in Bulgaria: La Ruse se construiesc sapte mall-uri



In orasul de granita Ruse, investitorii israelieni si bulgari au demarat lucrarile de constructie pentru sapte mall-uri. Reprezentantii investitorilor sustin ca mall-urile sunt destinate celor 2 milioane de romani care trec podul Giurgiu-Ruse in fiecare an. Romanii au devenit clientii magazinelor bulgaresti datorita preturilor, care ajung sa fie cu 40% mai mici decat in Romania.


Doua dintre complexele comerciale, aflate in constructie, sunt amplsate la cateva zeci de metri de podul care face legatura intre Romania si Bulgaria.
Romanii au “colonizat” si localurile din Ruse. Pensiunea Paradis este cunoscuta ca locul de intalnire a romanilor care isi fac cumparaturile in magazinele bulgaresti.

In orasul Ruse se construiesc in acest moment sapte mall-uri. Potrivit agentilor imobiliari bulgari, aceste complexe comerciale sunt construite datorita romanilor care isi fac cumparaturile in Bulgaria. Trei dintre cele sapte mall-uri vor fi construite in apropierea granitei langa podul peste Dunare, care este si cea mai utilizata cale de acces spre Bulgaria.

“In acest moment nu exista nici un mall in Ruse, dar deja au inceput constructia pentru trei dintre cele sapte care vor fi ridicate in urmatorii ani. Doua complexe comerciale sunt plasate exact langa podul peste Dunare”, a declarat pentru HotNews.ro Aleksandar Yordanov, reprezentantul companiei Makler LTD din Ruse.

Aleksandar spune ca investitorii, in mare parte companii israeliene, au preferat sa construiasca mall-urile la Ruse datorita consumatorilor romani. “Se stie ca mii de romani vin lunar la Ruse pentru cumparaturi. In Metro, daca mergi in weekend, nu mai auzi vorbindu-se in bulgareste, toata lumea vorbeste romaneste. Acesta este si unul dintre motivele pentru care se construiesc asa de multe mall-uri”, mai spune Aleksandar Yordanov.

Un alt motiv pentru care investitorii au ales sa construiasca la Ruse sunt si preturile terenurilor. "Cel mai scum teren din Ruse nu depaseste 150 de euro pe metru patrat. In medie ternurile din jurul orasului se vand cu 20-40 de euro metrul patrat", a mai declarat Aleksandar.

Israelienii investesc 85 de milioane de euro pentru a atrage clientii romani

Unul dintre cele sapte mall-uri, Mall Ruse, va fi construit la mai putin de 50 de metri de podul de la Ruse-Giurgiu. Potrivit portalului Afaceri Romano-Bulgare, Mall Ruse inseamna o investitie de 85 de milioane de euro.

Investitorii israelieni sustin ca au decis sa investeasca in mall-ul de langa Dunare datorita numarului mare de clienti romani care isi fac cumparaturile in zona de granita. “Ne bazam atat pe clientii din Romania, cat si pe clientii din Ruse si orasele invecinate” a declarat Petar Dudolenski, unul dintre directorii proiectului imobiliar, citat de portalul Afaceri Romano-Bulgare.

Proiectul imobiliar apartine investitorilor israelieni “Ocif Group“ si “Cinema City“ si companiei de investitii RESB (Real Estate Services Bulgaria). Potrivit investitorilor, constructia mall-ului va fi terminata in 2010, iar suprafata destinata spatiilor comerciale este de 35.000 de metri patrati.

Paradis, localul romanilor de la Ruse

Apetenta romanilor pentru cumparaturile din complexele comerciale din Bulgaria a dus la dezvoltatarea si altor afaceri, precum pensiunile. Vasili Simionov este proprietarul unei pensiuni aflate pe una din colinele de langa Ruse.

“Dupa ce merg la cumparaturi in Ruse, multi romani se opresc la mine. Am deja multi clienti romani care vin regulat la fiecare sfarsit de saptamana”, spune Vasili. Pensiunea Paradis este cunoscuta in Ruse drept localul unde se intalnesc romanii.

Postul national din Bulgaria a realizat aici un reportaj in care ii prezenta pe romanii veniti la cumparaturi in Ruse. “Multi romani din Bucuresti sau Giurgiu organizeaza petreceri sau nunti aici. Spun ca se simt bine si ca preturile sunt mai bune”, mai spune proprietarul pensiunii.

De ce merg romani sa cumpere de la bulgari?

In 2007, peste 2 milioane de romani au trecut granita in Bulgaria. Potrivit Capital.ro jumatate dintre cei intrat in Bulgaria pentru a face cumparaturi. Potrivit publicatiilor de specialitate, preturile la bunurile de larg consum - in special alimente - au fost cu 40% mai mici in magazinele bulgaresti.

Singurul dezavantaj este taxa de pod. Pentru o excursie la Metro in Ruse, la costurile de transport se adauga si taxa de pod, care este de 62 lei dus-intors. Aceste costuri sunt amortizate de diferentele majore de pret.

Ce gasesti la Ruse

Localitatea Ruse este amplasata la granita cu Romania si se afla la 76 de kilometri de Bucuresti si la 300 de kilometri de Sofia.

Populatia orasului este estimata la 175 000 de locuitori
In Ruse, municipalitatea a construit un parc industrial cu o suprafata de 60 de hectare
Cei mai importanti angajatori din Ruse sunt santierul naval, compania de armament Dunarit si compania Orgachim, detinuta de Policolor Romania.
In Ruse exista patru hoteluri si 10 moteluri

[High Mileager]

Poate-ar trebui majorata taxa "de pod" pentru a strange si banii necesari modernizari si extendinderii la 2x2..

[toxicduck]

[...]Meanwhile, the latest report by market research institute GKI said Hungary's competitiveness index improved by 1.6 percentage points in the first quarter, in part due to decreasing labor costs, meaning that the country has reached the average in the region. However, it improved by as much as seven percentage points in Romania over the same period.[...]

Realdeal.hu (http://www.realdeal.hu/20080723/hungarian-european-business-council-deeply-critical-in-new-report-on-economy)

[Le Clerk]

Business Standard
24/07/2008



Romania ranks 2nd in the EU in terms of industrial orders


Romania registered a 20.2 percent increase year-on-year for industrial orders in May, the second-largest growth in the European Union, according to EU’s statistics office Eurostat.

Denmark ranked first, with 24.6 percent growth, while Romania is followed by Lithuania (17.8 percent). The highest declines were registered in Hungary (11.4 percent), France (8.9 percent), and the Netherlands (7.5 percent).

Month-on-month, Romania’s increase in industrial orders amounted to 7 percent. In Denmark, monthly growth was 14.8 percent. Another country outranking Romania was Ireland, with a 9.7 percent monthly increase. Drops in monthly industrial orders were registered in Latvia (14.2 percent), Hungary (7.5 percent), Slovakia (6.6 percent), and Italy (6.4 percent).

At the EU level, industrial orders declined 2.8 percent year-on-year, while the decline was almost double, at 4.4 percent, in the euro-zone. Month-on-month, the decline was 4.7 percent in EU 27, and 3.5 percent in the euro-zone.

[joce23]

Murfatlar consolidates its business
Financiarul (http://www.financiarul.ro/2008/07/22/murfatlar-consolidates-its-business/)


Murfatlar, Romania’s main wine producer, posted turnover worth some €17.3 million in the first half of 2008, over 25% higher than in H1 2007.

"The increase is slightly lower than expected, which is why our efforts will be higher in the second half of the year, to catch up and meet annual objectives. The current economic conditions imposed adapting the strategy and changing plans and objectives as we go," said Daniel Negrescu, Murfatlar Brand Manager, quoted by Business Standard.

This fall, Murfatlar will launch new premium products and re-launch the Mamaia bitter. Romanian wine market exceeds €450 million and expects a growth rate of some 15% this year. The main competitors are Murfatlar, Cotnari, Jidvei, Vincon Vrancea, Cramele Recas and Domeniile Tohani.

Murfatlar has a market share of 28% in value and 25% in volume.

[Le Clerk]

Business Standard
24/07/2008



Romania, the only country in the region with double digit wage growth


Romania is the only country in the region with double digit increase of average gross wage, of 20 percent, in the first five months of 2008, compared to January-May 2007, according to Romania’s National Bank (BNR) Chief Economist Valentin Lazea. He warned this growth rate could fuel inflation, in a pessimistic scenario.

“We do not have a precise measure of the impact of average gross wage increase on inflation, but it is obvious that, among transition countries in the area, salaries grew 20 percent only in Romania. The rise in average gross wage was one-digit in Central European countries, such as Hungary, Poland or Slovakia,” Lazea added.

He cited the Baltic States and Ukraine as an example of inflation rise following significant wage increase. “It is obvious than one cannot have a 25 percent salary increase and a 5 percent inflation rate,” Lazea added. (NewsIn)

[joce23]

Hot summer for travel revenues: 350m euros :banana: :cheers:
ZF (http://www.zf.ro/articol_180971/hot_summer_for_travel_revenues__350m_euros.html)

Revenues are expected to reach 350 million euros on the Romanian Black Sea coast during the summer season, up 20% against the same time last year, with 1.4 million travel packages estimated to be sold.

According to travel agency representatives, the rise in demand is noticeable particularly on the three-star segment, with Romanian tourists becoming increasingly demanding as their standard of living increases. Richer Romanian tourists remain rather conservative and do not opt for additional holiday pursuits, such as diving, but prefer instead classic packages, which include accommodation and meals.

Foreign tourists are still difficult to attract, with foreigners' top summer destinations being Turkey and Greece. However, there is a category of "foreigners" who choose local beaches: Romanians working abroad, who return home for holidays.

"We estimate around 1.4 million packages to the Black Sea coast will be sold from May through September. We expect an around 20% increase, both in terms of the number of packages sold, and in terms of the total value of revenues, which we think will reach around 350 million euros," says Traian Badulescu, spokesman of the National Association of Travel Agencies in Romania (ANAT).

According to the ANAT representative, the increase in demand has to do, in part, with the improved accommodation on the Romanian coast, after many hotels underwent renovation last year. "I think we will see 100,000 foreigners coming at the most. We are not doing very well when it comes to attracting foreigners onto the local market, and I don't see the situation changing, because most foreign tourists prefer the offers available in Turkey and Greece," Badulescu explains.

According to him, the most popular resort is Mamaia, followed by destinations such as Eforie Sud, Saturn and Neptun.

"This year, I think we will see an around 10% increase in demand for the Romanian coast. There has been an around 20-30% increase on the three-star-hotel segment compared with last year, while for two-star hotels, the rise has amounted to around 10%," says Marius Usturoiu, general manager of tour operator Mareea, one of the leading providers of travel packages on the local market.

"I don't think we can talk about a peak in demand in one month in particular. Rather, I would say this is a balanced season. Demand from foreign visitors is slightly on the rise, but this segment accounts for a rather low percentage of our turnover," says Usturoiu

[RODINVEST]

http://www.bloomberg.com/apps/news?pid=20601087&sid=alTfK0PO10HE&refer=home
July 25 (Bloomberg) -- Russian steel and coal stocks plunged after Prime Minister Vladimir Putin called for antitrust authorities to investigate OAO Mechel for its pricing of raw materials in Russia.

OAO Severstal, Russia's biggest steel producer, tumbled 22.40 rubles, or 4.9 percent, to 436.01 rubles on the Micex Stock Exchange as of 11:31 a.m. local time. OAO Raspadskaya, a coking coal producer, fell 11 percent to 169 rubles. The Micex Metals and Mining Index sank 6.4 percent to its lowest level since October.

Putin criticized Mechel's billionaire shareholder Igor Zyuzin for not appearing at a meeting with steelmakers yesterday and said the company should be investigated because it sold raw materials in Russia in the first quarter at twice the price of exports.

Mechel's New York-traded American depositary receipts plunged 38 percent to $22.84 yesterday. The stock lost $14.10, or 39 percent, to $22.50 on Moscow's RTS Index today. Mechel is more heavily traded in New York than in Moscow.



Mechel has all the majour construction stell (iron rod) factories in Romania. So we shoulden wonder why the price has gone up.

[Le Clerk]

Business Standard
25/07/2008




Vosganian: Investitiile straine directe in Romania ar putea depasi 10 miliarde euro in acest an


Investitiile straine directe in Romania ar putea depasi “un prag psihologic” de 10 miliarde euro in acest an, dupa avansul considerabil din primele cinci luni ale acestui an, a declarat vineri, la The Money Channel, ministrul economiei si finantelor, Varujan Vosganian.

“In primele cinci luni ale anului, am primit 4,2 miliarde euro investitii straine directe, in conditiile in care nu am avut decat o singura privatizare notabila - a Electrica Muntenia Sud. Daca lucrurile continua asa, vom putea depasi un prag psihologic de 10 mld euro investitii straine directe pe acest an”, a spus Vosganian.

Potrivit datelor publicate de banca centrala, investitiile straine directe aproape ca s-au dublat in primele cinci luni din acest an fata de aceeasi perioada din 2007, ajungand la 4,114 miliarde euro, valoare care a acoperit aproape doua treimi (63%)din deficitul de cont curent, fata de 36% in intervalul ianuarie-mai al anului trecut. Afla mai mult.

[Gekko's]

it would be fantastic if the FDI 2008 will reach the target of 10bill!

[Le Clerk]

^^ The trend already leads to that. Romania had a little over 4 billion in the first 5 months. :banana:

[Gekko's]

the Voestalpine's 5.5 billion investment in Romania would be great to beat target of 10bln

[RichKid_01]

Gday guys. I am from Australia and I have to say I looooove Romania. Its doing so so well. Heres an article thats proves that Romania is on the right path on the European Union. Romania has the most active anti-fraud system of the 12 new EU member states, the European Commission says in its Annual Report on the protection of EU financial interests


Two reports issued by the European Commission on July 22, 2008 confirm the efficiency of the anti-fraud system implemented by Romania as of 2005.

The activity report of the European Anti – Fraud Office – OLAF reveals the very good cooperation with the Romanian authorities, further to the setting up ever since 2005 of a unit in charge of the coordination of the anti-fraud fight – Fight against Fraud Department – DLAF. According to Report, similar services, generically called AFCOS (Antifraud Coordination Service) will be set up in short time in the other acceding or candidate states, this being already a component of the enlargement policy which bore results in Romania’s case too. OLAF points out the fact that the number of control actions carried out in Romania( about 15% of the overall cases opened in 2007) is prompted both by objective reasons, the very large volume of earmarked funds and by the involvement degree and the efficiency of Romanian authorities in finding out the fraud cases.
Thus, according to the European Commission Report on the protection of EU financial interests for 2007 (Article "280" Report), Romania has the most active anti-fraud system of the 12 new EU member states, beneficiaries of the pre-accession funds.
• Romania has discovered and notified the European Commission about most cases of irregularities on the pre-accession funds (164 of 332 notifications – about 50% of the overall reports). The Commission has emphasized the fact that the high number of reports on irregularities conveyed by certain states does not represent a higher vulnerability of the respective states with respect to the emergence of irregularities. The real reason is in fact a higher number of controls made by national authorities (page 98 of the addenda 2 to Report), therefore a higher involvement of internal anti- fraud bodies.
• Financial impact of irregularities decreased compared to last year, from 1,3% to 0,7%. The irregularities affect only 0,7% of the value of projects within which they took place. The financial impact on decrease is also confirmed by the average term indicators, the rate of irregularities over 2002- 2007 is 1.08% (the value of detected irregularities in relation with the value of the eligible expenses over the same period).
• Romania has achieved significant progress in the recovery of the undeservedly paid funds, the recovery rate over 2002 – 2007 being about 53%, by 10% over the European average (situated at 43% - page 107 from Addenda 2 to Report). Under these circumstances, we have to mention the fact that in February 2007, Romania improved the legal framework in the field (Emergency Ordinance 12/ 2007).
• Romania is among the most disciplined states with respect to the observance of the reporting rules established at EU level. Romania is part of the group of member states that observed the overall reporting deadlines and that conveyed the reports of irregularities correctly, with all data, up to 95, 12% extent. You have to mention the fact that the non- observance of the reporting norms affects directly the EU’s action capacity against fraud, the accuracy of the risk analyses necessary to the EU policies being diminished.
Mr. Ovidiu Dobleaga, Head of DLAF: “We have concrete results in the fight against frauds with European funds. The maintenance of a relation of very good cooperation with OLAF remains a priority.”
“The European Commission’s reports confirm the confidence of Brussels officials in Romania’s capacity to correctly manage the funds it benefits from during the various EU policies. The Commission notices the determination of Romanian authorities to take, without hesitation, the required measures when financial irregularities are being discovered”.

Good on ya! Keep up the good work.

[RichKid_01]

I was reading that Romania will catch up to the EU Average by 2030. When you do Im gonna buy every Romanian a beer especially made from Australia. I am waiting with positive eagerness. One of my friends who works for the IMF said that in 2030 when Romania reaches the EU Average Romania will be Eastern Europe's Australia :)

Same population as Australia

Peaceful Country like Australia

Hard working highly educated like Australia

Hottest girls like Australia.

Australia-Romania We are brothers mate!

[RichKid_01]

I would love Romania to join the ICC and have its own cricket team. That would be awesome. Im sure Romanians are good cricketers but don't play. You guys a Latins right? That shouldn't stop you from playing one of the greatest games. Australia-Romania cricket team could merge into one and produce the worlds best cricket team.

[joce23]

As I mentioned yesterday, it seems that 2008 is a good year for our agriculture. :cheers:

Farming production close to 16 bln euro this year
Financiarul (http://www.financiarul.ro/2008/07/17/farming-production-close-to-16-bln-euro-this-year/)


Analysts expect Romania’s farming production to reach 52.5 billion lei (15.8 bln euro) this year, up by some 10 pct against the year before.

According to the National Statistics Institute, the relevant figures were 47.7 bln lei in 2007 and 50.7 bln lei in 2006, respectively. In terms of volume, the production decline was sharper, but high prices for farming products pushed the value of the crop upwards.

"No doubt, there will be growth, because the crops of rape, wheat, barley, sun-flower and maze will be higher. Moreover, global prices will stay high and Romania cannot uncouple from this trend," Adrian Porumboiu, president of the Vaslui-based group Racova Com Agro Pan (east) told Ziarul Financiar.

"Another factor that will take the vegetal sector to higher values is the incentive paid to farmers in fall 2007 for setting land under crop. The 500 lei per hectare encouraged them to cultivate larger surfaces and the favorable climate this year will help them harvest significantly more than in previous years," said Teodor Mihalcea, director-general with the Farming Policies Implementation Department of the Ministry of Agriculture.

Analysts estimate that this year’s cereals production will be 31.59 billion lei, livestock production will be 19.19 billion lei, and agricultural services will stand at 0.74 million lei.


----

Wheat production put at over one billion euros
Financiarul (http://www.financiarul.ro/2008/07/25/wheat-production-put-at-over-one-billion-euros/)


The average wheat production in Romania is to stand this year at some 3.5 tonnes/ha, close to the record in 2004, of 7.7 million tonnes, and two and a half times more than that of last year, of 3.1 million tonnes, harvesters say, daily Ziarul Financiar writes on July 15.

Grain is sold now for some 140 euros per tonne, but the price is expected to rise in autumn to 160-170 euros per tonne. With the average price standing at 150 euros per tonne, the production will be worth at least one billion euros.

Players in the field estimate 170 euros per tonne of wheat for bread, and 150 euros per tonne of wheat for fodder or bio-fuel. Big farmers, who have invested in high-performance technology expect an average production per ha of over six tonnes and high profit.

"We are expecting higher prices, but this is the level everywhere in the world, because the quantities are much higher than in the past years. Russia and Ukraine have already announced the highest wheat production in the past thirty years, and in the area of the Mediterranean there are 20 million tonnes of wheat available for export, " Mihai Anghel, manager of Cerealcom Dolj Co. (south) told the daily.

The results scored so far are better than the estimates of the Ministry of Agriculture made at the beginning of the year.

[RichKid_01]

I was reading that all EU Countries are going to get Visa Free Access to Australia. In Australia we have the ETA System which means that you get a Visa that shows up on the computer in Australia when you arrive. It will work for Norfolk Island too. So when you EU Citizens get Visa Free Access to Australia come to Australia and party with us. We are waiting....
The European Commission adopts its fourth report on visa waiver non-reciprocity with third countries
The European Commission has adopted its fourth report on certain third countries' maintenance of visa requirements in breach of the principle of reciprocity. The report shows that further progress towards full visa reciprocity has been achieved.

Vice-President Jacques Barrot, Commissioner responsible for Justice, Freedom and Security underlined the usefulness of the reciprocity mechanism: "This Report clearly demonstrates that the dialogue with third countries under the new visa-reciprocity mechanism has once again proven effective, resulting in visa free travel for all our citizens to another 3 countries. The Report however also proposes retaliatory measures where insufficient progress has been achieved. It is unacceptable that nationals from some third countries can benefit from visa free travel to the EU whilst some of our fellow EU citizens can't travel visa free to those countries. This is at the heart of our visa reciprocity mechanism and I am committed to ensuring that that principle is fully respected ".

Main conclusions of the report show that full visa reciprocity has now been accomplished with Israel, Malaysia and Paraguay. The Commission has achieved significant progress in the dialogue with Canada, which lifted the visa requirement for six Member States over the last ten months. In the dialogue with Australia the Commission has achieved access for nationals of all Member States to the "autogrant facility" and ensured equal treatment for the nationals of all Member States from October 2008 onwards once the Australian e-Visitors system is in place. The implementation of the Australian eVisitors system will be carefully monitored. With regard to Brazil, negotiations for a short-stay visa waiver agreement between the European Community and Brazil have started.

No progress has been achieved with Japan, Panama, Singapore and the United States of America (USA). The Commission notes that Japan is currently examining an extension of the short-stay visa waiver to Romanian nationals but reiterates its request for full visa waiver reciprocity for the citizens of all EU Member States. The Commission will monitor Panama's intention to waive the visa requirement for citizens of Bulgaria and Romania. With regard to Singapore, the Commission suggests that retaliatory measures should be considered if within a reasonable time full reciprocity is not achieved.

No tangible progress has been made regarding the USA despite all efforts of the Commission and individual Member States. Citizens of twelve EU Member States continue to require a visa when travelling to the USA. The USA committed at the June 2008 EU-USA Summit to include additional EU Member States into its Visa Waiver Program (VWP) this year. Therefore, the Commission will propose retaliatory measures – e.g. temporary restoration of the visa requirement for USA nationals holding diplomatic and service/official passports – as from 1 January 2009 if no progress is achieved.

The e-Visitor system is the same as the ETA.

[Le Clerk]

Balkaneconomy
July 28, 2008 - 00:33



Romanian tourism surging

Romania’s tourist industry is set to grow gy 6.7% a year between 2009 and 2018, says the World Travel and Tourism Council.

The WTTC says tourism is expected to generate 9.1 billion lei in revenues for Romania this year, accounting for 2.2% of gdp, and up to 3% of gdp by 2018.

Tourism is expected to generate 5% of Romania’s export revenues in 2008.

According to consultants in the field, Romanian tourism needs to revamp its image, having to choose among being a mass tourism destination, a niche one or a specialized destination.

Romania’s General Department for the Promotion of Tourism is planning to use €75m in EU structural funds to develop a distinctive national tourism brand, to be launched in the autumn.

About 3.16m foreign tourists visited Romania in the first five months of this year, a surge of more than 35% compared to the same period of the last year.

http://www.balkaneconomy.com/2008/07/28/Romania/Romanian_tourism_surging/1037.html

[tomis3]

Potrivit uni raport al International Center for Economic Growth (ICEG) valoarea investitiilor straine directe in Romania va fi anul acesta de 6,5 miliarde de euro, comparativ cu 7,069 miliarde de euro in 2007.

"In 2008, cerintele de finantare externa vor ramane ridicate si vor scadea doar marginal fata de anul trecut, ajungand la 13% din PIB in 2008 si 2009. Deficitul comercial va fi principalul motiv al acestor dezechilibre", se arata in raport.

In ceea ce priveste politica fiscala, analistii ICEG sustin ca deficitul bugetar din acest an va depasi valoarea programata de 2,3% din PIB, avand in vedere ca 2008 este un an electoral, ajungand la 3% din PIB, nivel prognozat si pentru 2009.

Oare astia stiu ca-n Romania s-au investit +4 milliarde in primele 5 luni a lu' 2008?

[d29]

Din cate am observat, astia din ONG-uri si think tankuri prefera sa fie mai conservatori decat sa exagereze, chiar si cu cifrele-n nas. Riscul pt. ei este mai mic in cazul in care s-ar insela asa ca aplica tactica asta mereu, ca un reflex.

[tomis3]

Intreg raportul:


http://www.icegec.hu/hun/_docs/Qreports/ICEGEC_EEU_Q2_2008.pdf


Portiunea despre FDI:

Foreign direct investments in the first four months were slightly lower
than that in the same period of the previous year, reaching EUR 1.6
bn. We expect net inward FDI to reach EUR 6.5 bn in 2008.


Foreign direct investments (FDI) over January – April this year totalled 3.2 bln euro, reveals data supplied by the National Bank of Romania (BNR). This figure is almost equal to the combined estimated direct foreign investments of 2001, 2002 and 2003 and twice as high as that registered between January – April 2007. The FDI from January 1 to April 30, 2008 are almost half that of the entire year 2007 (7.2 bln euro).

http://www.financiarul.ro/2008/07/01/foreign-investments-hit-record-high-at-end-april/


Cine minte?

[RichKid_01]

One of my mates who works for the Australian Foreign Ministry says that all of the EU will get Visa on Arrival Access to Papua New Guinea soon. The Australian Foreign Ministry is trying to pressure PNG/Solomon Islands to give Visa Free Access to the EU.

Australia is considered to be the Superpower of the Pacific, Australia's leadership is powerful in the region. I am sure Romania will become the Superpower of the Balkans with its powerful potential that it boasts. Romania will show strong leadership, backed by a developed economy and high per capita also with a high HDI.

[Le Clerk]

Business Standard
30/07/2008




Voestalpine investment conditioned by the EU


The location of the €5 billion metallurgy plant to be constructed by the Austrian Voestalpine group will be conditioned upon long-term European Union (EU) plans on pollution emissions, said Peter Schiefer, spokesman for the Austrian company.

This fall, the European Commission (EC) could institute the mandatory pollution certificates, which will be a disadvantage for any companies planning to invest in the European Union. Since Romania is a member of the EU, the decision to institute the pollution certificates would be a problem for Voestalpine.

Schiefer said the EC decision could be a major risk for Voestalpine. The company will sign memoranda with all candidate states for this investment.

[Le Clerk]

Autor: Ziarul Financiar
Data: 29 Iul 2008


Lafarge could build a second plasterboard plant near Turceni


Lafarge Arcom Gips was set up in 2001, after Lafarge took over 50% of the shares held by Arcom Bucuresti in the plant near Bucharest

French construction materials group Lafarge intends to build a second plasterboard plant in Romania, in Gorj county, where it will use synthetic gypsum as a raw material. This material results from a process of desulphurisation that takes place at the Turceni Energy Complex, according to market sources.

The decision of the French group comes in the wake of a continuous increase in plasterboard consumption and after its main rivals Rigips (a part of the Saint Gobain group) and Knauf Gips (the local division of the German group Knauf) also announced expansion plans on the local market.

Plasterboard plants can use synthetic gypsum as a replacement for natural gypsum, given the fact that introducing a quarry takes about two years.

[Le Clerk]

Ziarul Financiar
30/07/2008



Orban: Vom depasi Ungaria si la PIB pe cap de locuitor

Cu un PIB in 2007 de 116,9 mld. euro, Romania a depasit Ungaria (PIB de 93,3 mld. euro), iar, in cativa ani, daca actuala crestere economica se mentine, Romania va depasi Ungaria si in privinta Produsului Intern Brut pe cap de locuitor, spune comisarul european pentru multilingvism, Leonard Orban.

"Din punct de vedere economic imaginea Romaniei la Bruxelles este una pozitiva. Inca exista probleme, ca de pilda cele remarcate in raportul Comisiei asupra justitiei. Dar modul in care evolueaza economia este privit pozitiv. Sigur, Comisia atrage atentia ca exista inca riscuri, cum ar fi acela al depasirii deficitului bugetar (maximum permis este 3% din PIB - n.n.), iar sfatul Comisiei este acela ca Romania sa urmeze politici echilibrate, sa manifeste maxima prudenta in privinta politicilor bugetare si sa urmareasca atent calitatea cheltuielilor bugetare", spune, intr-un interviu pentru ZF, Leonard Orban. Dezvoltarea Romaniei va fi accelerata de fondurile europene din ce in ce mai mari, iar Romania ar putea fi beneficiarul net a 3-4 mld. euro anual de la bugetul Uniunii, spune comisarul.

Potrivit unui raport al Comisiei Europene referitor la executia bugetului UE pentru 2007, Romania a primit anul trecut de la Uniunea Europeana 1,6 mld. euro, contributia sa la bugetul UE fiind de 930,3 mil. euro. Romania a fost, asadar, un beneficiar net al fondurilor Uniunii (cu un plus de 595 mil. euro, adica 0,5% din PIB).

Intre ianuarie-iunie 2008 Romania a primit de la UE 405 mil. euro, un raport al Ministerului Finantelor indicand asteptari de fonduri nerambursabile de 1.930 mil. euro.

"Daca avem capacitate de absorbtie, exista toate premisele ca aceste fonduri sa creasca semnificativ si sa ajunga undeva la 3-4 miliarde de euro anual. Dar trebuie consolidata capacitatea de absorbtie, iar informarea publicului este esentiala", a comentat Orban.

Potrivit documentului citat, tara nou aderata la UE care a primit cele mai mari fonduri nerambursabile este Polonia - care dupa scaderea contributiei sale la UE a ramas cu un plus de 5,1 miliarde de euro (1,7% din PIB). Ungaria a ramas cu un plus de 1,6 mld. euro (1,7% din PIB). Sume importante a primit si Spania care a primit cu 3 mld. euro (2,4% din PIB) mai mult decat a contribuit.

Cel mai mare contributor net la bugetul UE ramane Germania care a dat Uniunii cu 7,4 mld. euro (0,3% din PIB) mai mult decat a primit, Franta (cu un minus de 2 mld. euro), Olanda (minus 2,8 mld. euro) si Italia (minus 2 mld. euro).

Referindu-se la recesiunea economica mondiala, Orban spune ca statele europene din afara zonei euro sunt mai vulnerabile la o eventuala adancire a crizei sau la o prelungire deja anticipata a acesteia, drept urmare tinta Romaniei trebuie sa fie apropierea datei aderarii la euro, prevazuta acum pentru 2014. "Romania este unul dintre statele cu riscuri mari. Este nevoie ca masurile pe care autoritatile le propun sa urmareasca consolidarea cresterii economice. Evolutiile economice sunt bune, dar este nevoie de multa prudenta in privinta politicilor bugetare", spune comisarul.


Sursa: www.zf.ro/articol_181456

What do you think guys? Is he right?

[Gekko's]

YES HE IS

[tomis3]

Ziarul Financiar
30/07/2008




What do you think guys? Is he right?


IF our respective GDP growth rates stay as they are now, then he is right.

[RODINVEST]

Hungary is starting to be on the move again. We will probably catch up with them in 10 15 years. Or mabey more let's not forget that they are in the second cicle. They already had a recession, for the last 8-9 years we only had growth.

[d29]

That's bullshit. Given the way our budget deficit is moving, we may end up like Hungary now in a few years (growth rate wise), and without their tons of highways. That's a major risk. Plus, Hungary will pick up the growth rate. I don't think we'll ever catch up; we'll just move a bit closer and that's if we're careful.

[tomis3]

That's bullshit. Given the way our budget deficit is moving, we may end up like Hungary now in a few years (growth rate wise), and without their tons of highways. That's a major risk. Plus, Hungary will pick up the growth rate. I don't think we'll ever catch up; we'll just move a bit closer and that's if we're careful.

Our budget deficit is projected to be below 3%...Here is Hungary's for the last 10 years. See if you can spot the difference.

http://img162.imageshack.us/img162/721/2007debtsc5.jpg

[Gekko's]

i can't see the picture tomis3...

[Cosmin]

Me neither... so I took the liberty to fix it.;) Don't hotlink! Use ImageShack or some other service please.:cheers:

[Gekko's]

now is ok

[d29]

Our budget deficit is projected to be below 3%...Here is Hungary's for the last 10 years. See if you can spot the difference.

http://img162.imageshack.us/img162/721/2007debtsc5.jpg

I didn't mean the actual situation, I meant a future situation similar to Hungary's if the government keeps spending money as unwisely as they do now. That's the biggest risk we face.

[Le Clerk]

Even though I do not like to say it, as long as Romania's GDP (and thus budgets) grow at 6-7% rates yearly (as opposed to Hungary growth of less than 1%), increased expenditures are not bad, provided that such expenditures are put mostly into developing the infrastructure as the gov declares. If the gov hikes the budget deficit to 3% this year and puts most of the money into developing motorways, I think it's a wise decision.

[tomis3]

Even though I do not like to say it, as long as Romania's GDP (and thus budgets) grow at 6-7% rates yearly (as opposed to Hungary growth of less than 1%), increased expenditures are not bad, provided that such expenditures are put mostly into developing the infrastructure as the gov declares. If the gov hikes the budget deficit to 3% this year and puts most of the money into developing motorways, I think it's a wise decision.

Absolutely...there are good deficits and there are bad deficits. Running a deficit in order to invest in infrastructure is not a bad idea as long as the deficits are reasonable and the projects worthwhile.


Our biggest risk is still the trade deficit.

[d29]

I think the trade deficit will eventually fix itself (there are signs already as of this year regarding this), so the biggest risk remains the incompetence of politicians, which will be most visible in the budget deficit. Let's hope their not extremely stupid though.

[RODINVEST]

Well the bank want's to fix inflation and raises the interest again. Thus fucking developers. This is not a problem because prices for old apartments were to high. But by rising the interest suddenly the LEU becomse interesting so it apreciates against the euro dollar etc thus making our exports more expensive. Thus depening the deficit. The only IMO would be to cut some taxes so more FDI would come and so exports would not be so expensive. Otherwise we will fix the short term inflation but by running a high defficit we would fuck up the economy on the long run.

[Le Clerk]

Adevarul
Vineri, 1 August 2008




România, din nou pe harta marilor tour-operatori


După doi ani de absenţă din ofertele Dertour, ITS şi Thomas Cook, ţara noastră apare cu câteva pachete turistice pe litoral, circuite şi oraşe
Numărul turiştilor străini veniţi prin marile agenţii de turism europene ar putea creşte cu minimum 40%, ca urmare a siguranţei pe care o dă o astfel de recomandare.

Autorităţile din domeniul turismului din România au încheiat parteneriate cu tour-operatorii europeni Dertour, Thomas Cook-Neckerman şi ITS pentru promovarea României în cataloagele acestora, din 2009. În perioada următoare, vor avea loc negocieri şi cu compania germană TUI, cel mai mare tour-operator european.

„Colaborarea cu tour-operatorii germani determină o creştere a prestigiului unei destinaţii. Dertour îşi propune cel puţin dublarea numărului de turişti, iar ITS preconizează o creştere de aproximativ 40%", ne-a declarat Carmen Moraru, directorul Direcţiei de Promovare Turistică.

În 2007, numărul de vizitatori germani în România a fost de 473.431 de persoane. Totuşi, această creştere este raportată la numărul de turişti, care sunt persoane plătitoare de servicii, şi nu de vizitatori, aşa cum înregistrează Institutul Naţional de Statistică.

TUI ne-a inclus cu oferte pe oraşe

ITS se concentrează în continuare pe litoral, având şi excursii în Delta Dunării, tratamente şi wellness, circuite, dar şi oferte de cazare în Bucureşti, în catalogul destinat călătoriilor în oraşe. Dertour ne-a inclus în catalogul „România-Bulgaria", unde ţara noastră îşi prezintă oferta pe mai mult de 60 de pagini (catalogul având circa 80 de pagini).

Tour-operatorul german a introdus hoteluri noi în Bucureşti şi în alte oraşe din ţară, a lărgit oferta de circuite şi a introdus şi oferte de turism activ. „De asemenea, România este prezentă în cataloagele Dertour de City Breaks, cu oferte în Capitală", a mai spus Moraru.

Cel mai mare tour-operator european, deşi ne-a exclus cu oferta de litoral de câţiva ani, are totuşi câteva pagini dedicate României.

„Suntem în continuare prezenţi în cataloagele TUI şi Neckermann cu oferte de călătorii în oraşe, şi mai ales în Capitală. Purtăm tratative şi sperăm să putem în curând să anunţăm că şi TUI şi Neckermann au reintrodus oferta de litoral", a mai declarat directorul general al direcţiei de promovare turistică din ministerul de resort.

Inserţiile publicitare din cataloage, în valoare de 200.000 de euro pe care le va plăti autoritatea de turism din ţara noastră, nu au forma clasică a unui anunţ publicitar, ci pun accentul pe conţinutul redacţional. „Sunt informaţii utile pentru turişti, cu prezenţa logoului România şi a contactelor birourilor de turism din Germania", a mai spus Moraru.

Promovare prin companii aeriene

Ministerul de resort a decis că una dintre cele mai bune forme de promovare sunt companiile aeriene şi a alocat pentru această formă de publicitate circa 120.000 de euro.

Lucia Morariu a precizat că, în prezent, din bugetul total pentru promovare aferent anului 2008, s-au cheltuit 53% din fonduri, respectiv peste 2,7 milioane de euro, sumă care include, printre altele, organizarea de expoziţii, târguri şi congrese, în România şi în străinătate (cheltuieli de 1,69 milioane de euro) şi redactarea caietului de sarcini pentru construcţia brandului turistic al României (11.900 de euro).

http://www.adevarul.ro/articole/romania-din-nou-pe-harta-marilor-tour-operatori/363204

[joce23]

Romanian rapeseed production could reach 420 million euros
Financiarul (http://www.financiarul.ro/2008/07/31/romanian-rapeseed-production-could-reach-420-million-euros/)

Romania’s rapeseed production could exceed 700,000 tonnes this year, compared with 352,700 tonnes last year, with an average production per ha standing at 1.7-2 tonnes, compared with one tonne in 2007, according to supplier of farming services Agricover, cited by daily Ziarul Financiar in its July 22 issue.
Rapeseed now costs 460-470 euros a tonne, but it is also influenced by international developments, by the price of oil barrel, in particular.
“By the end of processing, by end September, therefore, rapeseed could reach 550-600 euros per tonne“, Daniel Botanoiu, head of the National Federation of Agricultural Producers in Romania, told the daily.

At a price of 6000 euros a tonne and a production of 700,0000 tonnes, the local market of rapeseed could reach 420 million euros this year. In 2007, around 80% of the Romanian production of rapeseed was exported, fetching 78.4 million euros.
The area covered by rapeseed this year stands at 430,000 ha, compared with 340,000 ha in 2007. In the past 13 years, the rapeseed area rose by approx. 1,4000 tines, from 300 ha in 1995.
According to estimates by general manager of Agricover Robert Arsene, the Black Sea countries will supply this year around five million tonnes of rapeseed, or 10% of the world production.

[joce23]

Romania govt budget gap at 1.18 pct/GDP in Jan-June
The Guardian (http://www.guardian.co.uk/business/feedarticle/7694763)


BUCHAREST, Aug 1 (Reuters) - Romania ran a consolidated budget deficit of 1.18 percent of gross domestic product in the first half of the year after a gap of 0.19 percent in the same period a year ago, data by the finance ministry showed.
Data showed the centrist minority government ran a nominal deficit of 5.2 billion lei ($2.3 billion) in January-June.
The European Union newcomer is targeting a deficit of 2.3 percent of GDP for the end of this year.
Romania ended 2007 with a fiscal deficit of 2.4 percent of GDP under local accounting standards -- 2.6 percent according to EU standards -- after running surpluses for the first 10 months of the year.
Revenues for the first six months of 2008 totalled 80.2 billion lei, or 18.2 percent of GDP, while spending reached 85.3 billion, data showed.
Romania, which revised this year's budget twice this year, has been repeatedly criticised for unpredictable spending and insufficient transparency in its public finances.
Market watchers say the government's pro-cyclical fiscal policies hinder the central bank's efforts to curb resurgent inflation.

[RawLee]

grow at 6-7% rates yearly (as opposed to Hungary growth of less than 1%), increased expenditures are not bad, provided that such expenditures are put mostly into developing the infrastructure as the gov declares. If the gov hikes the budget deficit to 3% this year and puts most of the money into developing motorways, I think it's a wise decision.

1, growth by the end of this year is projected to be around 2-3%.

2, to the underlined part:what do you think,where did our money go? The only difference now(and our chance) is that now we will start pouring EU funds into construction,sparing some of our own money on them.

[tomis3]

Romanian rapeseed production could reach 420 million euros
Financiarul (http://www.financiarul.ro/2008/07/31/romanian-rapeseed-production-could-reach-420-million-euros/)

I don't know what rapeseed is, but I don't like the sound of it.

[joce23]

Rapeseed (http://en.wikipedia.org/wiki/Rapeseed)

[toxicduck]

rapeseed = rapiţă/rapiță (I hate the Turkish diacritics, Romanian ones look so much better)

How many of you see the diacritics Ăă Ââ Îî Șș Țț ?

[Du'Myth]

^^ Italians use combinations of "sc" and "e" or "i" to write a word like "scemo" (silly) or "sciopero" (strike), pronounced șemo and șopero, respectively. I personally find more practical writing a Ș rather than 2 consonants and a vocal to obtain the same fonetic effect. Isnt "dimanche" lesser practical than "dimănș" :lol:?

Anyways, like mp3's are not made to give us the same quality like a standard Audio CD (wich means trashier music) but to occupy lesser space on our hard drives, letters are made to ease our language, not to be loved or hated.

O revoa! :D

[toxicduck]

We also have groups of leters that are red different from the norm:
ce, ci, ge, gi, che, chi, ghe, ghi, with the ch and gh pairs actually red as if they were a single letter.

[Le Clerk]

1, growth by the end of this year is projected to be around 2-3%.

2, to the underlined part:what do you think,where did our money go? The only difference now(and our chance) is that now we will start pouring EU funds into construction,sparing some of our own money on them.

1. Yeah, I know but I was referring to past years' growths.

2. But Hungary had pre-accession funds until 2004, and structural funds thereafter. What happened until now that they were not used and it is only now that Hungary starts pouring EU money into infrastructure? I actually doubt that.

[RawLee]

1. Yeah, I know but I was referring to past years' growths.

2. But Hungary had pre-accession funds until 2004, and structural funds thereafter. What happened until now that they were not used and it is only now that Hungary starts pouring EU money into infrastructure? I actually doubt that.

M0 south extension+eastern section,M7,M43,just for this year...
Then M4, part of M9,part of M30.
http://www.nfu.hu/download/2540/Kiemelt%20projekt%20K%C3%96ZOP.xls
but his doesnt belong here,so we should discuss it elsewhere...

[Le Clerk]

^^I was commenting about the EU funds and saying that it is not possible that Hungary has not used such funds yet.

[Le Clerk]

Business Standard
31/07/2008




Westhill to invest €500 mln in Romania


British developer Westhill, currently developing Crizantema mall in the southern city of Targoviste, announced it has an investment plan worth €500 on the local market in the coming five years.

In 2006, the company acquired some 10 hectares in the city of Ploiesti (60 km north of Bucharest), for a total €14 million. The plot was sold to British Lewis Charles investment fund, which was set to come up with the funds for a commercial center, in partnership with Westhill. However, the fund is currently facing financial problems, so the developer has borrowed €100 million from a U.S. bank, according to the company’s Chief Operations Officer, David Palmer, for Business Standard.

Authorization for the project was granted by Ploiesti local authorities and construction work is set to begin this fall. The total cost of the project is estimated at €140 mln, including land and infrastructure.

The center, set to be finalized in 2010, is likely to be sold. Its market value amounts to some €300 million, at a 7 percent yield, according to Westhill Romania Manager Andrei Panculescu.

He added that the company is currently negotiating the acquisition of a further six hectares of land in Ploiesti, where it intends to develop a mixed residential and office space project. Westhill also plans to build three other malls in the coming years, two in Romania and one in neighboring Bulgaria.

[RichKid_01]

Ziarul Financiar
30/07/2008




What do you think guys? Is he right?

Can you please post this in English. By the way for those people that think the EU Commissioner is wrong, you guys need to get a life accept this may be the reality. I hate your fucking negative attitudes that some of these people carry on this forum. I have some Hungarian friends who all say the same thing as the EU Commissioner for Romania is saying, even here in the Australian media they are saying the same things. GET A LIFE AND ACCEPT THE GOOD THINGS THAT ROMANIA IS PRODUCING!! More and more media articles about Romania in Australia are more positive and carry "success" stories with it

[RichKid_01]

Bulgaria is still a corruption State and has not registered any progress in the fight against corruption since 2001, according to research data of "Transparency International Bulgaria."

"Transparency International Bulgaria" is an official affiliate of "Transparency International", an independent non-political organization for research, analysis and suggestions for effective anti-corruption control.

Experts from "Transparency International Bulgaria" define the European Commission's report about Bulgaria as alarming.

The organization's data shows that corruption is most widespread in the judicial system, the political parties and the area of health care.

According to a global research of the corruption perception index conducted by "Transparency International", Bulgaria has not made any progress in the fight against corruption since the country's EU accession. From a 10 point scale, the corruption index for Bulgaria for the year 2007 is 4,1 points, almost the same as in 2001.

In Finland and Denmark where corruption is the lowest, the index is 9,4 points.

At the same time, according to "Transparency International" data, Romania has registered significant improvement in the corruption area.

Ognyan Minchev, Chair of "Transparency International Bulgaria" believes that the harsh EC report only reflects parts of the corruption environment in the country, which is ruled by a post-communist elite demonstrating behavior unacceptable in the EU.

Minchev sees political corruption and election campaign financing as the main corruption problem for Bulgaria.

The organization's experts propose the creation of a public registry of party donors and accounting of party financing on the day of the elections.

Minchev predicts that the July 23 report from Brussels was not going to be the last one to include sanctions for Bulgaria.

Excellent work Romania! Cheers from Australia

[Fallen]

At the same time, according to "Transparency International" data, Romania has registered significant improvement in the corruption area.



No we haven't. The EU Justice report was not a positive one. The commision couldn't use the same harsh attitude regarding Romania, because they had to stress out the very bad situation in Bulgaria.
But so far in Romania none of the "big sharks" has fallen... We make the investigations, but they extend the cases over such a long period, that no decision has been taken so far in any important case. No heads have fallen!!
In the political sphere, there is no desire to fight corruption. The best justice minister, Monica Macovei, praised by the Eu Commission, was put on a "dead line" when the politicians saw that she was serious about fighting corruption. Since then, no progress has been made. On the contrary ...

So until some people start going to jail we can't say we are going in the right direction.

[High Mileager]

GET A LIFE AND ACCEPT THE GOOD THINGS THAT ROMANIA IS PRODUCING!! More and more media articles about Romania in Australia are more positive and carry "success" stories with it

I totally agree..More than coruption ..."being negative" is Fu**ing "National desease" in Romania..It comes in different forms..one of them being "carcoteala"
.. That's what puts me off while in Romania..too many people "constantly looking at the empty part of the glass".. instead of counting their "blessings"(if I can put it that way):cheers:

[RichKid_01]

Look here. I have friends who work for Transparency and they have read this report on Romania and Bulgaria fighting corruption and there is a common agreement that Bulgaria has not made any progress for years. But instead of complaining and thinking you know best be open to what other people have to say, dont not listen to what other people have to say. I used to work for transparency until a month ago, and I have read this report and it seems to me that Transparency is addressing this issue correctly. The top dogs will be caught, I agree there is to much messing around, but other than that great progress in big strides are being made and recognised. You need to get real. Why the fuck do you just shut down a report like that? Your not a fucking professional when it comes to this. Your comment is only an assumption. I used to work for this organisation. My mum used to work with Transparency with her Law Firm. I totally disregard your comment, and I will not accept it

[RichKid_01]

I totally agree..More than coruption ..."being negative" is Fu**ing "National desease" in Romania..It comes in different forms..one of them being "carcoteala"
.. That's what puts me off while in Romania..too many people "constantly looking at the empty part of the glass".. instead of counting their "blessings"(if I can put it that way):cheers:

I agree!. I have another report by the IMF to show all of your fucking negative people. Ill post it on a seperate page

[RichKid_01]

By Athanasios Vamvadakis
IMF European Department


August 1, 2008

Emerging Europe's catching up largely driven by strong fundamentals.

But growth in recent years has been above potential, likely to ease
Structural reforms could raise potential growth, ensure smooth catching up.

Europe's emerging economies have been growing fast.

The region's annual real GDP growth has averaged close to 6 percent in the last five years, accelerating the recovery that started in the late 1990s. Growth has been particularly rapid in the Baltics, followed by South-Eastern and Central-Eastern Europe.

Compared with other emerging economies, only emerging Asia has been growing faster in the current decade. This performance has allowed emerging Europe to start closing its large income gap with the advanced European economies. But the region still has far to go. Even if growth continues at the average rate of the past five years, it would take 20 years for Central and Eastern Europe to catch up with Western Europe.

[RichKid_01]

For those negative people. THE GUY FROM IMF SAID IT WILL TAKE 20 YEARS THATS 20 YEARS FOR THE FUCKWITS THAT CANT READ 20 YEARS!! GET IT

[RichKid_01]

Romania’s economic growth is seen at 8% or 9% in 2008, and the inflation rate at 6% or 7% at yearend, central bank governor Mugur Isarescu said Monday.

"We have good chances to have an economic growth between 8% and 9% in 2008, and an inflation rate between 6% and 7%," Isarescu added.

In 2007, the country’s economy grew 6% on the year in real terms, compared with 7.9% a year before.

Romanian economic growth was 8.2% in the first quarter of 2008.

Romania's central bank Monday revised its inflation forecast from 6% to 6.6% in 2008, and from 3.5% to 4.2% in 2009.

The central bank has set an inflation target of 3.8% for 2008, and of 3.5% for 2009, with a plus or minus average of one percentage point.

Asked whether the inflation target is subject to changes in 2008, on the price increase over the forecasted level, Isarescu said a possible change would not help.

"Keeping the inflation target shows we made a firm commitment. Forecasting yerend inflation is not a game. This is a commitment on decreasing the inflation rate," Isarescu added.

This is fucking awesome! and EU Country breathing down China's neck.

[Cosmin]

Hey man, just chill.:lol: We get it. Our economy is doing fine for the time being, I agree (even though I have my concerns for the future), but the justice system is fucked up, and you better trust me on this.

[High Mileager]

It would be interesting to know "how are these reports being done"(where is the data taken from etc) , "who asked for them" and "why?"..
Anyway,personally, I really appreciate your effort "on studying Romania's case".. :cheers:

[Cosmin]

^^What's with all the quotation marks?:shifty:

[Fallen]

@RichKid ... i am very optimistic about Romania's economic performances, but let me have my doubts about the justice system.
I live in Bucharest, so this gives me a different perspective. I go almost every day through Primaverii neighbourhood, a place for the rich (and some corrupt) guys. I see how good they live, and we all know how they got to have the money to buy properties there... I see Nastase's and Iliescu's happy faces every day on tv, when they should be in jail since long ago. When i will stop seeing corrupt guys in top positions i will be happy about the romanian justice... till then...

[RichKid_01]

It would be interesting to know "how are these reports being done"(where is the data taken from etc) , "who asked for them" and "why?"..
Anyway,personally, I really appreciate your effort "on studying Romania's case".. :cheers:

The report is gathered in several ways

1 Market Research

2 Country exploration through International Organisations e.g. US Government

3 Transparency went and interviewed many Romanians over the last year since the last report for 2006

4 Special Monitoring Software that tracks activity and movement within the sector, it is calculated by many mathematical methods

5 A Transparency Mission team examined Romania's Justice Sector for a year and noted progress and areas of improvement

6 My mum went to Romania and was one of the team leaders of the report. My mum is a Lawyer Senior Partner of a Law Firm that did work in Romania's growing dominant position in the Law

Transparency doesn't need to get asked we do daily assessments and reports about every country worldwide. We are requested by governments mostly

We do this to ensure countries know where they are progressing. Also to raise awareness to fight corruption and also to allow us to use model countries and assist them to do the same

[RichKid_01]

Hey man, just chill.:lol: We get it. Our economy is doing fine for the time being, I agree (even though I have my concerns for the future), but the justice system is fucked up, and you better trust me on this.

Yes the economy is doing excellent the best it has ever done. I agree the justice system needs a lot of work. We even get articles about Romania's success stories and so on then Romania must be doing fine. We even had an article in Australia that was commenting about Romania's justice system is well on the way to being a model in the balkans in the next 10-15 years and followed by the economy 5 years after. One of my friends who works for the IMF believes that Romania's economy will be close to a trillion $ Estimated at 700 billion PPP and 780 billion Nominal. Romania's per capita by 2030 is calculated that it will almost equal Australia's.

[Fallen]

Yes the economy is doing excellent the best it has ever done. I agree the justice system needs a lot of work. We even get articles about Romania's success stories and so on then Romania must be doing fine. We even had an article in Australia that was commenting about Romania's justice system is well on the way to being a model in the balkans in the next 10-15 years and followed by the economy 5 years after. One of my friends who works for the IMF believes that Romania's economy will be close to a trillion $ Estimated at 700 billion PPP and 780 billion Nominal. Romania's per capita by 2030 is calculated that it will almost equal Australia's.

^^
I hope God will hear his words!:cheers:

[Du'Myth]

Let us give optimism a chance, for an Australian economy! :cheers:

[RichKid_01]

^^
I hope God will hear his words!:cheers:

Heres an article that will at least assure you where Romania is heading.

Romania's economic growth outstrips expectations

Bucharest, Aug 4 /Agerpres/ - Despite turbulences on the international markets, Romania reported a fourfold economic growth over the average in the European Union in the first quarter of this year, reads Southeast European Times on its web site.

Romania's economy grew by 8.2 percent in the first quarter of 2008, its biggest jump since 1990 for that quarter, according to the National Statistics Institute. GDP for the first quarter was 23.5 billion euros. In comparison, EU countries' average economic growth was roughly 2.4 percent for the same period, according to Eurostat.

This ranks among the top five quarters recorded by Romania since 1990, according to daily Ziarul Financiar. The gross domestic product (GDP) enjoyed 8.3 percent growth in the third quarter of 2006.

The National Commission for Economic Projection (CNP) estimates that Romania's economic growth will rise above the annual 5 percent threshold until 2020, with GDP reaching 442.3 billion euros. However, the CNP predicts that the growth will drop to 6.5percent by the end of this year and will exceed 6 percent only in 2009.

Romania's economic growth could exceed 6 percent in 2008 if there is good agricultural output, said Mugur Isarescu, the governor of the National Bank of Romania, explaining that the production could add up to 1 billion euros, or 1 percent of GDP. Economy Minister Varujan Vosganian also voiced optimism, saying growth could continue in the second quarter and reach the 8 percent threshold, reads the article posted by Southeast European Times on its web site.

The average monthly salary will rise by 166 percent until 2020 to 1,133 euros, compared to the current 425 euros, according to the CNP. Unemployment will stay at the level registered last year, 4.1 percent.

Analysts predict that the sunny economic outlook will affect national currency growth and encourage more foreign investment. According to a recent joint poll by the Thomson Reuters Agency and Austrian Oesterreichische Kontrollbank, Romania's business environment is one of the most attractive in Central and Eastern Europe, a region which will see foreign investments topping 100 billion euros in 2008. A survey by Mergermarket found private-equity experts predicting that 'emerging Europe' -- with Poland and Romania at the forefront -- would top Asia, Russia and South America in attracting Western investment.

According to Eurostat, Romania ranked 15th on the list of Foreign Direct Investment recipients last year, with 7.3 billion euros. According to the Romanian Agency for Foreign Investments, the French carmaker Renault was Romania's number-one foreign investor in 2007, at over 670m euros.

[Fallen]

I know what predictions say :)
I just hope they will come true. :D

[BG_PATRIOT]

Romanian June Wage Growth Accelerates to 24.4% on Investment

By Adam Brown

Aug. 5 (Bloomberg) -- Romanian annual wage growth, which prompted the central bank to raise the European Union's highest interest rates last week, accelerated to 24.4 percent in June as investment boosted demand for workers.

Net monthly wages rose to 1,273 lei ($564) in June, the Bucharest-based National Statistics Institute said in an e-mail today. Growth accelerated from an annual 23.3 percent in May, while wages rose a monthly 2 percent.

Central bank Governor Mugur Isarescu said yesterday that wages are rising too fast, helping boost the inflation rate above 9.1 percent in July and outstripping productivity gains, while the economy is ``obviously overheating.'' The central bank on July 31 raised its Monetary Policy Rate a seventh time to 10.25 percent.

``Continued increases in incomes in excess of labor productivity gains as well as the persistent rapid pace of credit expansion have fueled inflationary pressures,'' Banca Nationala a Romaniei, the central bank, said in a statement after last week's rate increase.

Higher paychecks are also helping spark a lending boom as Romanians exercise their increased borrowing power, sending private debt up an annual 63.4 percent in June.

Romania's entry to the EU last year set off labor migration to Italy, Spain and other bloc members, aggravating a labor shortage and further increasing wages. An increase in investment boosted demand for workers at the same time.

Unemployment in June was 3.8 percent, the lowest rate in 16 years, the National Labor Agency said on July 10.

The Romanian Association of Construction Companies has said builders, who employ 300,000 workers in the nation of 22 million, need another 300,000 just to stay on scheduled with current projects.

[tomis3]

source: www.zf.ro

Retailul romanesc a inregistrat cea mai mare crestere lunara din Uniunea Europeana, cu un avans de 4,1% in luna iunie, fata de luna anterioara, conform unui raport al Biroului european de statistica Eurostat. Romania este urmata de Suedia (+1,7%) si Bulgaria (+0,4%).

La nivelul zonei euro, volumul vanzarilor de retail a scazut in luna iunie fata de luna mai cu 0,6%, in intreaga Uniune Europeana scaderea fiind de 1%, dupa ce in mai vanzarile de retail au crescut cu 0,5% si respectiv 0,9%.

Romania se afla pe primul loc si in topul celor mai mari avansuri anuale, vanzarile crescand in iunie 2008 cu 23,3% fata de aceeasi perioada a anului anterior. Romania este urmata la diferenta mare de Slovenia (+5,7%) si Polonia (+1,7%).

[Rhemaxos]

Just one "methodological note" as regards corruption indexes: when quoting Tranparency International figures we should never forget that these data only reflects the general public perception in this field. In other words, it is not about how corrupted Romania really is but about how corrupted we think Romania is. And unfortunalety the mass perception is massively altered by the way our competent media use to reflect the daily realities.

[toxicduck]

Just one "methodological note" as regards corruption indexes: when quoting Tranparency International figures we should never forget that these data only reflects the general public perception in this field. In other words, it is not about how corrupted Romania really is but about how corrupted we think Romania is. And unfortunalety the mass perception is massively altered by the way our competent media use to reflect the daily realities.

I just want to say: my name is toxicduck and I approve this message.

[Du'Myth]

^^According to your "information manipulation" (conceptually speaking) theory, then all the information you absorbed throughout your life by all means has a chance of more than 50% to be altered, thus making your knowledge doubtable, and mine, and practically everyones. There is no absolute truth nor absolute lie, everything lies in one's capacity to deal with it or not (non-philosophically intended).

I just don't want to live all my life living in conspiracies thinking about the bad things happening in/to this world, when i have the option of choosing to see the brighter side of it, thus increasing my chance of being a slightly brighter, innocent and better person.

[joce23]

Orsova-based Shipyard to merge with Constanta Maritime Constructions
Financiarul (http://www.financiarul.ro/2008/08/05/orsova-based-shipyard-to-merge-with-constanta-maritime-constructions/)


Shareholders of the Orsova-based Shipyard, listed on the Bucharest Stock Exchange (symbol SNO), approved at the end of the July 21-27 week the merger through absorption with the Constantabased Maritime Constructions, reads a release of the company to BVB on July 28.
The Orsova-based Shipyard concluded the first quarter of the year with a net profit worth 1.833 million lei, which is almost double as against the 2007 profit, which stood at 928,829 lei. The total incomes of the company reached 27.016 million lei, that is by 6.446 million lei more than in the first three months in 2007, with the expenditures having come to 24.631 million lei (plus 5.13 million lei).
The company’s turnover reached in the January-March interval 21.65 million lei, a growth by 42% (1 euro sells for 3.5 lei).

The Orsova-based Shipyard was set up in 1890, as a small workshop where there were repaired the ships which contributed to the construction of the navigable shipyard from the Iron Gates – SIP Yugoslavia and saw a constant development in time, knowing a spectacular evolution after 1991, when the workshop became the SC Naval Orsova SA (that is the Orsova-based Shipyard share company). The Orsova-based Shipyard is a company running 100% on private capital, with the shareholders being SIF Transylvania - 50%, SIF Oltenia - 12.13%, nonresident clients - 9.93% and other shareholders - 27.94%.

SNO has recently concluded 13 shipbuilding agreements, with three Dutch companies, worth 27.38 million euros in total, with the delivery having been scheduled for 2009. There were also concluded 8 agreements worth 17.86 million euros with the Dutch company Veka Shipbuilding BV, including the construction and delivery of four fluvial containers, of a pusher, two chemical tanks and a barge.
SNO has also concluded three agreements with Gebr De Jonge Shipbuilding, worth 6.16 millioneuros, for the construction of a fluvial container, of a pusher and a barge and two other agreements with Gebr de Jonge Shipbuilding and Breko Niuwbouw, worth 3.35 million euros, to build and deliver a tugboat and a barge.


Summer in Mamaia: a 300m-euro business
ZF (http://www.zf.ro/articol_182483/summer_in_mamaia__a_300m_euro_business.html)


In Mamaia, tourists who buy tickets through travel agencies spend, on average, 250m euros each season. However, weekend travel is added on top of this.

Mamaia, the most fashionable resort boasting the largest number of 5-star hotels and the most popular nightclubs on the Romanian seacoast, is expected to derive a 300m-euro business this summer, according to ZF estimates, based on data provided by the National Tourism Agency (Agentia Nationala de Turism-ANAT) and the National Statistics Office (Institutul National de Statistica-INS).

According to ANAT data, out of the 1.4 million Romanians who chose the Romanian seaside this year (calculated from the overall sales of travel packages sold by agencies), 35% opted for Mamaia, which translates as 500,000 Romanians.

According to INS data, the average length of a holiday at the seaside last year revolved around 5.4 nights of accommodation, whilst prices at 3 or 4-star hotels reached, on average, 250-300 euros for 5-6 nights.

A rough calculation reveals that in Mamaia, where the highest prices and best hotels are located, a tourist spends, on average, around 30 euros per day (1-1.1m RON), which translates as overall expenses worth 150-200 euros for a 5-6-day holiday, not including accommodation.

Therefore, a holidaymaker spends around 400-500 euros (1,500-1,800 RON) for a 5-6-night holiday in Mamaia, which means the total budget of a family revolves around 1,000 euros for a week. As a result, the 500,000 tourists that visit Mamaia through travel agencies spend 200-250m euros each season.

However, on top of this calculation are added weekend tourists, who come directly to the hotel, and expenses from tourists that stay in nearby Constanta. As a result, "business in Mamaia" can reach around 300m euros during a summer season.

Around 60 hotel units, with a capacity of above 3,000 rooms, and several restaurants and clubs are competing for holidaymakers' money in Romania's most luxurious seaside resort.

According to ANAT data, 1.4 million Romanians will head for seaside resorts this year, up 20% on last year. Receipts from the sale of seaside travel packages will amount to 350m euros this year. Tourists that buy tickets through agencies spend 700m euros at the seaside, however, if weekend travel and informal travel is included, the entire annual "Seaside" business can be put at 1bn euros.


* 1bn euro, suma produsa de turismul litoral, e o suma ff mica !:bash:
** alte vesti bune ptr. litoral/proaste ptr. zonele de munte: http://www.dailybusiness.ro/stiri-turism/de-ce-este-vara-2008-atipica-pentru-hotelierii-din-romania_cat-8-15366

[tomis3]

FDI report from EIU (around 250 pages)

http://a330.g.akamai.net/7/330/25828/20070829195216/graphics.eiu.com/upload/WIP_2007_WEB.pdf

[Fallen]

Cam sumbru raportul privind Romania. Crestere economica de 5,5% anu asta, si sub 5% incepand cu 2009, si chiar 3,4% in 2011.
Din cate auzisem eu, parca urma sa crestem anu asta cu peste 8% si in anii urmatori cu minim 6%, asta pana prin 2012 ...

[tomis3]

Cam sumbru raportul privind Romania. Crestere economica de 5,5% anu asta, si sub 5% incepand cu 2009, si chiar 3,4% in 2011.
Din cate auzisem eu, parca urma sa crestem anu asta cu peste 8% si in anii urmatori cu minim 6%, asta pana prin 2012 ...

It's from the Economist...they've never had a positive thing to say about Romania.

[Rhemaxos]

Radu Rizea, HotNews.ro

Former Romania dictator Nicolae Ceausescu loved the Italian risotto, but would most certainly have hated to see the Romanian rice fields acquired by European companies. After the rice price has tripled this year, European farmers became increasingly interested in rice crops and begun to expand their operations in Eastern Europe, Reuters informs.

Romanian farms, most of them abandoned after the fall of Communism, also became a target for investments. The trend offers Romania - a country with important water resources, a warm climate and a good soil - the chance to become one of Europe's main rice producers.

The large-scale rice production begun in Romania in the '70's, when Ceausescu, following the example of North Korea and China, forced the farmers (bound in state-owned cooperation units) and some convicts to work on the rice fields near Vladeni, South-Eastern Romania.

Today, people like Jean-Pierre Brun, head of the rice brokers in London, say about Romania that it has a great potential, having easy access to water, flat lands and warm weather. Bulgaria, Ukraine and Hungary also benefit from similar conditions, but on a lesser scale.

The Danube, which has water resources 20 times larger than the Po river in Italy, also offers a competition edge in front of Spain and Italy.

In the end, experts say, Romania may cover up to 10% of the European rice imports.

I think that Romanian agriculture has a great potential, especially in the current international/global context. I've heard/read about tens of thousand of farming land being acquired by foreign investors and this trend has been accelerated since 2007. Western knowledge and techncology, the cheap labor force (still the case in rural areas), the favorable natural conditions and EU Common Agricultural Policy are the pre-requisites for what may become a future spectacular growth in this sector.

[RichKid_01]

I want to tell you something special. I know some friends that work in the CIA, MI6 and MI5 and one of my cousins works for the MI6 he had to renounce his Australian Citizenship for the job. The CIA, MI6 and MI5 consider Romania to have a total severe lack of crime, hostility and there are even no terrorist/ or terrorists in the country. The have even said that they would even build up offices in some of these flats for their own work. IF Romania keeped on reforming and making good progress on their corruption. According to the latest UN Report on Balkan crime Romania is safer than Finland or Switzerland. Fuck man! Thats seriously awesome. I know a Romanian fellow who has a top agent position in the MI6 he's got a British accent tho. He's a fucking awesome guy really nice really casual. The CIA, MI6 and MI5 would prefer hiring Romanians for their jobs than mostly any other country other than their own citizens of course:) according to my friend in the CIA. The CIA says Romania has a serious unusual gentle society that is considered to be very uncanny. The MI6 and MI5 says that Romania is one of the most advanced Democracies in the world and should be followed in the region. They urge Romania to start being more a regional power and acting more assertive.

I raise my beer glass toasting to a new and emerging Romania full of the rich and prosperous. :) No doubt in 20 years time you'll reach the try line

[RODINVEST]

I think thay you are some banned romanian joking. If you are not then crime in Romania is low beacuse we export crime. So our burgler pimps etc are all in Italy and Spain and etc.

[tomis3]

Does anyone know when Q2 GDP growth will be released?

[Rhemaxos]

Does anyone know when Q2 GDP growth will be released?

The press release is scheduled for the 1st of September.

http://www.insse.ro/cms/rw/pages/calendar/press0809.ro.do

[Klausenburg]

Cam sumbru raportul privind Romania. Crestere economica de 5,5% anu asta, si sub 5% incepand cu 2009, si chiar 3,4% in 2011.
Din cate auzisem eu, parca urma sa crestem anu asta cu peste 8% si in anii urmatori cu minim 6%, asta pana prin 2012 ...

E vorba sa creasca anul acesta cu 8-9%...dar e foarte mare riscul de supraincalzire a economiei...etc...O sa vedem cum decurg lucrurile...


El Corte Ingles in Romania?

http://www.expres.ro/articole/detalii-articol/816010/A-Spanish-supermarket-chain-wants-in-Romania/
http://www.zf.ro/articol_182928/lantul_de_malluri_el_corte_ingles_intra_pe_piata_romaneasca.html
http://www.ziuadecj.ro/action/article?ID=15287

COTNARI tu esti de prin zona, la ce sa ne asteptam?

[commodore]

Full article (romanian only): Jurnalul national, 12 August (http://www.jurnalul.ro/articole/131297/imobiliar---tranzactii-de-815-milioane-de-euro).
http://img207.imageshack.us/img207/685/evzpm0.jpg (http://imageshack.us)
foto: Jurnalul National

[COTNARI]

El Corte Ingles in Romania?

http://www.expres.ro/articole/detalii-articol/816010/A-Spanish-supermarket-chain-wants-in-Romania/
http://www.zf.ro/articol_182928/lantul_de_malluri_el_corte_ingles_intra_pe_piata_romaneasca.html
http://www.ziuadecj.ro/action/article?ID=15287

COTNARI tu esti de prin zona, la ce sa ne asteptam?

Reteaua este una dintre cele mai mari companii europene de retail. Au profituri imense. Target: clasa de mijloc, fara a atrage prea multi snobi. In general sunt mai scumpi decat ''la mall'', dar uneori gasesti oferte bune. Se bazeaza pe calitatea produselor, dar si pe abundenta!

Poti returna orice produs pt orice motiv (merge si: ''nu-mi place culoarea bateriei de la webcam'' ). De asta aici e un loc bun pt a testa ceva pt 2 sapt si apoi fugi la concurenta si dai cu 30% mai putin (catalanii m-au invatat asta imediat :lol:) .


Nu stiu insa daca piata romaneasca e pregatita pentru pt asta. Poate daca vor intra doar pe segmentul de lux. Mai vad o problema: au nevoie de locatii foarte centrale, chiar pentru un mag imens de 10 etaje. Iar aici, autoritatile locale dau gratis terenul. Deci nu stiu ce sa zic, prea multe necunoscute...(Galeriile la fayette au acelasi sistem de functionare)

le: el corte ingles (http://www.elcorteingles.es/) =in traducere aproximativa: stilul englezesc

[Le Clerk]

Ziarul Financiar
Data: 13-08-2008




Patriciu are afaceri de 100 mil. dolari in Georgia

Grupul petrolier Rompetrol, cu activitati in 13 tari, printre care se numara si Georgia, a decis inchiderea a doua benzinarii din cele 29 de puncte de alimentare detinute pe piata georgiana din cauza conflictului izbucnit intre fortele locale si cele din Rusia. Cele doua statii se aflau in zonele de conflict care prezentau un risc maxim pentru derularea operatiunilor, compania analizand in prezent daca este necesar sa inchida si alte benzinarii.

"Activitatea companiei Rompetrol Georgia, parte a grupului Rompetrol, este afectata de conflictul dintre Rusia si Georgia. Pana in prezent s-a luat decizia de a inchide statiile detinute in zonele de conflict, statia Gori - Osetia de Sud si statia Zugdidi - Abhazia. Monitorizam situatia, urmand ca in functie de evolutiile din zonele de conflict sa adoptam masurile potrivite", au declarat reprezentantii grupului Rompetrol.

Afacerile Rompetrol din Georgia au ajuns anul trecut la un nivel de 67 de milioane de dolari (43,5 milioane de euro), cele mai recente estimari ale reprezentantilor companiei indicand un plan de afaceri de 110 milioane de dolari (73 de milioane de euro).

Potrivit publicatiei georgiene The Financial, Rompetrol este unul dintre cei mai mari importatori de produse petroliere la nivel local. Totodata, compania intentiona sa investeasca anul acesta circa 8 milioane de dolari pentru extinderea retelei de benzinarii pana la un numar de 35 de puncte de alimentare.

Potrivit acelorasi surse, investitiile Rompetrol in Georgia facute anul trecut se ridica la aproximativ 3 milioane de dolari, majoritatea fondurilor fiind alocate in modernizarea si deschiderea de noi statii.

Reprezentantii Rompetrol nu au precizat pana la inchiderea editiei cati romani lucreaza in lantul de benzinarii detinut in Georgia si nici daca au avut loc evacuari.

Grupul petrolier Rompetrol este deocamdata cea mai importanta afacere, cu activitati preponderent situate in Romania, afectata de conflictul izbucnit din cauza atacului rusesc asupra Georgiei. Grupul Rompetrol estimeaza pentru anul acesta afaceri de 10-12 miliarde de dolari, fata de rezultatul de 7 miliarde de dolari consemnat anul trecut. Grupul este prezent cu activitati in 13 tari, fiind alcatuit din 40 de firme.

Cele mai importante companii ale grupului se gasesc in Romania, unde Rompetrol detine rafinaria Petromidia, cel mai important activ de rafinare local. Un pachet de 75% din actiunile grupului Rompetrol a fost vandut anul trecut catre compania kazaha de stat, KazMunaiGaz. Valoarea grupului a fost stabilita la 3,6 miliarde de dolari, de unde a rezultat o valoare estimata pentru tranzactie de 2,7 miliarde de dolari. Potrivit fostului actionar majoritar al grupului, omul de afaceri roman Dinu Patriciu, nu exista deocamdata intentia de a vinde si restul de actiuni catre compania de stat din Kazahstan.

Potrivit celor mai multi dintre analisti, atacul rus asupra Georgiei a intervenit in contextul in care pe teritoriul georgian trec mai multe conducte extrem de importante pentru transportul rusurselor din regiunea caspica spre Mediterana respectiv oleoductele Baku-Tbilisi-Ceyhan si Baku-Supsa, dar si gazoductul Baku-Tbilisi-Erzurum. Acesta din urma este un gazoduct foarte important pentru dezvoltarea Nabucco, proiect care-si propune sa diversifice sursele de alimentare cu gaze ale Europei prin conectarea la resursele de gaze din regiunea caspica, Iran, posibil Irak si, eventual, chiar si mici cantitati din Rusia.


Sursa: www.zf.ro/articol_183243

[Le Clerk]

IKEA store in Bucharest has been underdimensioned. (http://www.standard.ro/articol_55999/seful_ikea__magazinul_a_fost_subdimensionat.html)

[Le Clerk]

Business Standard
14 august 2008



Astra Vagoane Calatori acquires industrial robots to fill orders from abroad

Rolling stock material producer Astra Vagoane Calatori Arad, controlled by businessman Valer Blidar, estimates its productivity could increase 10 times following a €1.3 million investment in industrial equipment. The industrial robot, imported from the Netherlands, is the best in Europe, with productivity ten times higher than other models, Blidar told Business Standard.

“This robot covers the production of two factories. Once production capacity increases, we will resume discussions with several international companies who want to collaborate with us,” Blidar said.

The company is to deliver parts for 200 train cars to an Iranian company, as part of a three-year contract. “We are also collaborating with other companies, from Germany and Poland. There is high demand for rolling stock materials in Europe,” Blidar added.

In the first quarter of this year, the company posted some €12 million in turnover, similar to Q1 2007, due to higher costs. By the end of 2008, the company expects a 10 percent annual increase, up to €60 million.

Astra Vagoane Calatori’s main competitors are Remar Pascani, Remar 16 Februarie Cluj, and Ateliere Grivita. “This is a market which is beginning to grow, because [the national railroad company] CFR Calatori is receiving funds from the state and the European Union to modernize its rolling stock material assets. By 2010, the market is likely to grow by up to 10 percent, and later to exceed this percentage,” according to the General Secretary of the Railroad Industry Association (AIF), Stefan Roseanu, for Business Standard.

http://www.skyscrapercity.com/newreply.php?do=newreply&noquote=1&p=23962326

[nebunul]

IKEA store in Bucharest has been underdimensioned. (http://www.standard.ro/articol_55999/seful_ikea__magazinul_a_fost_subdimensionat.html)

^^ Dickheads. I was surprised it took them forever to come to RO ... They'd underestimated Bucharest's spending power ... it is well known that Romanians spend their last penny on smth they like/want :lol::cheers: (ask the Bulgarians about Romanian tourists) - and this doesn't necessarily count as ... good news :lol:

[tomis3]

^^ Dickheads. I was surprised it took them forever to come to RO ... They'd underestimated Bucharest's spending power ... it is well known that Romanians spend their last penny on smth they like/want :lol::cheers: (ask the Bulgarians about Romanian tourists) - and this doesn't necessarily count as ... good news :lol:

Ikea really underestimated our willingness to purchase their crap.

[nebunul]

true ... but only real competition brings good value/products. That's why (let alone ZA mentality) in RO we still buy shitE loads of ... crap :bash:

[joce23]

Voestalpine, government, to sign memorandum on Agigea investment
Financiarul (http://www.financiarul.ro/2008/08/14/voestalpine-government-to-sign-memorandum-on-agigea-investment/)

Voest Alpine and government representatives will resume negotiations in September, when a Memorandum will be signed in a formula detailing the Austrians’ plans to invest in Romania in the construction of a steel mill with a production capacity of 5 million metric tons a year.
A Voestalpine team met with Romanian representatives from the sectors of transportation, finance and environment. After talks with Secretaries of State Septimiu Buzasu (Transportation), Alice Batu and Catalin Doica (Finance) and Silviu Stoica (Environment), Voestalpine was able to grasp the image of the conditions under which its investment in a new steel plant could unfold in Romania.

Voestalpine disbursed 14 million euro in down-payments to freeze land prices in the area of Agigea (country south-east), the location which is being considered for the start of the investment.
Bids were made by Erste/BCR “on a client’s behalf” and negotiations were very discreet, in order not to agitate the local property market.
“In fact, the seller got an advance paymnt, under the reserve that the full payment will follow in autumn, when Voestalpine will make a public announcement on its final decision. Yet a Memorandum will be signed with the government in a formula that will detail the Austrians’ intention to invest in Romania. Negotiations on the Memorandum took nine months,” sources speaking under condition of anonymity told the paper.
“Voestalpine, through its partner companies in Romania, negotiated with some 200 landowners,” writes the weekly.

The Austrian investor would be interested in other land plots on which it has not yet come to terms with the owners. The said land is inside the perimeter where the investment should unfold and acquiring it is essential. If they are not convinced into selling, the land owners could be subject to expropriation in the public interest, but the process is slothful and could put back the deadlines the investors are taking in consideration, notes the paper.
The Austrians seem concerned with the possibility that a port services company in the area generates glitches along its transportation chain and are also aware that ecologists and antipollution campaigners could attack the project.

In November 2007,Voestalpine announced plans to build a steel mill in the Black Sea area and that the decision on the location thereof will be reached in the second half of 2008, depending on incurring costs with environmental protection, infrastructure and access to raw materials.
Other possible locations for the construction of the steel processing facility are Bulgaria, Ukraine and Turkey.
The Austrian publication Der Kurier reported in May, without citing the source, that Voestalpine will pick either Constanta or Odessa as site of its steel processing plant worth seven billion euro, a decision to be taken at the meeting of the company board, due in September.

Company director-general Wolfgang Eder too said that by October Voestalpine will shortlist two states as possible site of its planned facility.
Under the Memorandum of Understanding to be signed with the Government of Romania, Voestalpine will not pledge to the investment, but only announce plans to invest under certain circumstances.
The Voestalpine management warned that the plant will be built only if the project proves to be economically efficient. Construction works won’t kick off before 2011, and the facility might become operational somewhere around 2013-2014.

[tomis3]

Source: The Economist

IT HAS gone on splendidly for years, and the party isn’t quite finished yet. For a decade or more eastern Europe has benefited from exceptional (and mostly unforeseen) good fortune. Economic and political stability, including for ten countries membership of the European Union, has boosted investors’ confidence and cut borrowing costs. A big pool of cheap and diligent workers, along with the unleashing of entrepreneurial talents, has produced thriving new private businesses. In most countries, growth rates have been stellar (see chart).

Inevitably, it could not last. Wage costs are creeping up. Labour shortages are biting. Out-of-date infrastructure, such as Poland’s notorious roads, is clogging trade. In several countries inflation is rising. And world markets, both for raising capital and for exporting, are looking tougher. In the face of all this, growth this year has been surprisingly strong. That is partly because the euro-area slowdown has only just started; partly because domestic demand has been rising; and partly because intra-east European trade has started to make up for softer exports westwards.

The big exceptions are the Baltic countries of Estonia and Latvia, home to colossal current-account deficits and breakneck growth in recent years. Now their bubbles have popped. In Latvia, for example, retail sales fell in June by 8.3% on a year earlier; industrial production is down by 6.4%. The construction industry has imploded. Inflation remains high at a whopping 17%. For a country with a pegged currency, that is scary. Yet the gloomiest predictions have so far proved unfounded. For example, Latvia has not been forced to devalue. The foreign banks, mainly Swedish, that own most of the financial system seem largely untouched by the credit crunch elsewhere in the world. And there is no sign of the contagion spreading from the troubled (but tiny) economies of the Baltic to the rest of the region.

In the biggest economy, Poland, things look better. Growth in the first quarter of 2008 was a sprightly 6.1% on a year earlier. Many Poles who left to work in Britain and Ireland are coming home, tempted by higher wages. Unemployment, which was 20% in 2003, has all but vanished in most parts of the country. But growth is now likely to slow, particularly if interest rates keep rising: they were 4% in 2007 and are 6% now, with another rise likely. That will strengthen the zloty further; it has risen against the euro. That may be a reason why Poles are returning from Britain, but it hurts Polish exporters.

Critics say the government should now do more to reform public finances, especially pensions, and get big infrastructure projects going, before a contraction in the labour force kicks in during the next decade. That would also improve the country’s chances of joining the euro, which it now seems unlikely to do before 2013. So far, Slovenia has adopted the single currency and Slovakia will do so next year. No other country looks close.

The biggest worry is Hungary, which is the country most dependent on the continuing confidence of the capital markets. A shaky government has done surprisingly well in restoring macroeconomic stability after the near-disastrous spending and borrowing splurge in the early years of this decade. The budget deficit reached a yawning 9.4% of GDP in 2006; Neil Shearing of Capital Economics, a consultancy, reckons it may be down to as little as 3.5% by the end of 2008.

This has come at a heavy price, both in the government’s rising unpopularity and in a near economic standstill last year. The economy has picked up a bit since then, but inflation remains troubling at over 6%. The question is whether the government has the stomach for another round of fiscal tightening. Public spending is still over 50% of GDP, the highest in the region. A further worry is the looming slowdown in the richer half of the continent. The Hungarian economy depends heavily on exports to western Europe, which account for nearly 40% of GDP.

Despite the EU’s worries about corruption and organised crime in its newest (and poorest) members, Romania and Bulgaria, their economies have been growing fast at around 7-8% a year. They are now leading candidates for a hard landing. A property bubble in Bulgaria seems to be on the verge of bursting, though this has still to filter through to the rest of the economy. Yet for now, few seem worried. Having dodged sanctions from Brussels (not fully in the case of Bulgaria), politicians in the Balkans seem to think that defying the laws of economic gravity is a cinch.

[d29]

Given the announced figures, the party's barely starting in Romania. Bunch of alarmists they are.

[Whiteeclipse]

Bulgaria and Romania Trade Booming

The bilateral trade between Bulgaria and Romania has reached a record high, the Standart Daily newspaper points out Tuesday citing recently released data of the National Statistical Institute.

In the first five months of 2008 Bulgaria's exports to Romania increased by 70% compared to the same period of 2007 to reach BGN 718 M.

At the same time, however, Romania exported to Bulgaria goods for BGN 1,149 B, which is a growth of almost 80% compared to January-May 2007.

According to Standart, the Bulgaria's negative balance of BGN 431 M with Romania is due to the expansion of the Romanian petrol industry, cigarettes, and car manufacturing on the Bulgarian market.

The Rompetrol oil company has opened dozens of gas station in Bulgaria, and the Romania brand of cigarettes "Viceroy", and cars "Dacia" are said to be becoming more popular in the country.

http://www.novinite.com/view_news.php?id=96053

[Wizzard]

Sorry for invading this thread, I just would like to find out the official (brutto and netto) average salary in Romania and Bucharest :) Thank you very much in advance.

[Le Clerk]

Nationally: 500 EUR gross, 370 EUR net
Bucharest: double the above.

[Le Clerk]

:banana::banana::banana:


Autor: Ziarul Financiar
Data: 15 Aug 2008


Fluviu de investitii straine in primul semestru



Investitiile straine realizate in primul semestru s-au apropiat de 5 mld. euro, peste estimarile initiale si in crestere cu circa 60% fata de nivelul din perioada similara a anului trecut, valoarea de la finele anului putand sa ajunga chiar la 10 mld. euro, daca se mentine ritmul de pe primele sase luni. Valoarea investitiilor straine ca aport la capitalul social al firmelor inregistrate in Romania s-a ridicat in primul semestru la 2,58 mld. euro, de peste doua ori mai mult decat nivelul din perioada corespunzatoare a anului trecut, potrivit datelor de la Oficiul National al Registrului Comertului (ONRC).



We have high chances to brake the 10 billion EUR threshhold this year. :horse:

[joce23]

Nationally: 500 EUR gross, 370 EUR net
Bucharest: double the above.

August 2008, net salary (http://revistapresei.hotnews.ro/stiri-revista_presei_business-3885999-capital-37-judete-salariul-mediu-este-sub-cel-nivel-national.htm):

Nationally : 1248 lei = 352.84 Euro
Bucharest : 1670 lei = 472.15 Euro

* mi-am zis sa te corectez din nou fiindca ai mereu tendinta de a exagera calitatile Bucurestiului cand e vorba de salarii, pib si alte masuratori de genul asta. La fel face si presa centrala care preia fel si fel de exagerari (i-am auzit pe Videanu/Becali vorbind de 1000 de euro salariul mediu din Bucuresti) sau compara mereu Bucurestiul cu judete care, desi au municipii resedinta de judet care se misca binisor, au parte si de o populatie rurala inca numeroasa care nu produce mare lucru. Ideea ca Bucurestiul se afla la "ani lumina" (dublu, triplu, cvadriplu etc la salarii sau PIB/capita) in fata altor orase "mari" e total falsa. Ai mai zis de doua ori pe-aici ca Bucurestiul produce jumate din PIB-ul Romaniei si de fapt produce doar 18% !

[Wizzard]

August 2008, net salary (http://revistapresei.hotnews.ro/stiri-revista_presei_business-3885999-capital-37-judete-salariul-mediu-este-sub-cel-nivel-national.htm):

Nationally : 1248 lei = 352.84 Euro
Bucharest : 1670 lei = 472.15 Euro


Well, so this looks a little more real for me :) but what is the true? What about the gross salaries? How much higher they are?

[Le Clerk]

August 2008, net salary (http://revistapresei.hotnews.ro/stiri-revista_presei_business-3885999-capital-37-judete-salariul-mediu-este-sub-cel-nivel-national.htm):

Nationally : 1248 lei = 352.84 Euro
Bucharest : 1670 lei = 472.15 Euro



Obviously you do not seem to understand that a huge amount of personal incomes in Bucharest are not salaries, but revenue from small companies which actually replace the labour contract and reduce the income tax very much. While a person pays up to 30% of its salary on taxes, the same person may pay up to 16% of its income on taxes. I know a huge amount of people who are not paid by the salary (which the stats are measuring) but by incomes from companies, which the stats often seem to overlook. You know how it goes: if you are a professional, you set up a small SRL or register yourself as a self employed person (PFA) and pay close to nothing in taxes to the state. And that makes a huge amount of university degree people in Bucharest, but also elsewhere, but mainly in Bucharest.

How many times I met people runnning away from labour contracts (which are the only ones accounted for in these stats) or sigining very low paid labour contracts only to earn the bulk of their income from company or PFA revenues!?

[joce23]

Well, so this looks a little more real for me :) but what is the true? What about the gross salaries? How much higher they are?
Average gross salary, Romania, 2008 : ~ 425Euro

----

...

Omul intrebase care e salariul mediu in Romania, si nu ce smecherii facem noi ca sa avem venituri mai mari. Iar salariile sunt cele pe care le-am postat. Restul e o alta poveste.

[Le Clerk]

Average gross salary, Romania, 2008 : ~ 425Euro

----

Joce, that is wrong! Please, check page 107 of the August report (http://www.insse.ro/cms/rw/resource/bsl.pdf?download=true) of the Stats Office (it is in EN and RO for whoever wants to review it) and you will see that the August average gross earning in June 2008 was 1738 RON, or about 496 EUR.

[joce23]

OK, you`re right ! :)

* pentru salariul brut n-am mai stat sa verific prima sursa iesita in cale.

[Le Clerk]

Omul intrebase care e salariul mediu in Romania, si nu ce smecherii facem noi ca sa avem venituri mai mari. Iar salariile sunt cele pe care le-am postat. Restul e o alta poveste.

Salariile nu sunt foarte relevante in orase precum Bucurestiul dar si alte mari orase din motivele expuse de mine, asa incat am incercat sa fiu mai aproape de adevar, fara sa trec prin acea poveste cu trecerea de la salarii la venituri pe firme si PFA.

Oricum, ce te face sa crezi ca numai in Bucuresti se intampla cele spuse de tine?

Am mentionat in cele spuse de mine ca nu numai in Bucuresti se intampla acest fenomen:

And that makes a huge amount of university degree people in Bucharest, but also elsewhere, but mainly in Bucharest.

[d29]

Si-n Constanta zecile de mii (?) de marinari sunt platiti la salariul minim si castiga mii de euro lunar prin companii offshore de crewing. Sunt curios care ar fi media la noi daca INSSE ar lua aceste venituri in considerare - ceea ce ar si trebui.

[nadgobxe]

Vosganian: In 2012 salariul mediu va fi de 3.000 de lei, iar pensiile de 1.300 de lei
de D.G. HotNews.ro
Sâmbătă, 16 august 2008, 19:00 Economie | Finanţe & Bănci

Ministrul economiei si finantelor, Varujan Vosganian, a declarat, sambata, la Iasi, ca estimeaza o crestere a PIB-ului pe cap de locuitor, in 2012, la 10.000 de euro, ceea ce, in echivalent actual, ar insemna ca salariul mediu brut se va ridica la 3.000 de lei, iar pensia medie 1.250-1.300 de lei, relateaza NewsIn.

Potrivit acestuia, cresterea produsului intern brut este realizabila avand in vedere, printre altele, investitiile viitoare ale Guvernului, investitiile straine, fondurile europene ce vor fi accesate si majorarea capitalului sistemului bancar si a sistemului de asigurari.

"Investitiile din bugetul de stat se ridicau in anul 2007 la 15%. In acest an vor creste la 18%, iar in 2009 cred ca ne vom apropia de 20%. Estimarile noastre sunt ca investitiile straine, in perioada 2009-2012, vor fi de 30-40 miliarde de euro, investitiile din buget de 30 miliarde de euro, la care se adauga 25 miliarde de euro din fonduri europene", a precizat ministrul economiei si finantelor.

Vosganian a mai spus ca una din prioritatile programului de guvernare 2009-2012 este cresterea pana la 6% din PIB a alocarilor catre infrastructura.


Posibil sa fie asa.

[Le Clerk]

* mi-am zis sa te corectez din nou fiindca ai mereu tendinta de a exagera calitatile Bucurestiului cand e vorba de salarii, pib si alte masuratori de genul asta. La fel face si presa centrala care preia fel si fel de exagerari (i-am auzit pe Videanu/Becali vorbind de 1000 de euro salariul mediu din Bucuresti) sau compara mereu Bucurestiul cu judete care, desi au municipii resedinta de judet care se misca binisor, au parte si de o populatie rurala inca numeroasa care nu produce mare lucru. Ideea ca Bucurestiul se afla la "ani lumina" (dublu, triplu, cvadriplu etc la salarii sau PIB/capita) in fata altor orase "mari" e total falsa. Ai mai zis de doua ori pe-aici ca Bucurestiul produce jumate din PIB-ul Romaniei si de fapt produce doar 18% !

Eu am mai spus doar ca Bucurestiul produce 1/3 din PIB-ul Romaniei si am gresit, desi ma bazat pe estimari de acum 2-3 ani care la vremea aceea erau adevarate.

Insa ceea ce ma nedumereste pe mine si imi demonstreaza ca argumentul ca in Bucuresti veniturile sunt duble in general fata de restul tarii poate fi foarte adevarat, este faptul ca PIB/capita in Bucuresti este dublu fata de restul tarii (de vreme ce Bucurestiul cu 1/10 din populatia tarii produce aproape 20% din PIB) [citeam undeva ca si productivitatea muncii in Bucuresti este dubla fata de media pe tara]. Stiu ca lucrurile nu sunt chiar atat de simple, adica faptul ca venitul nu poate fi calculat doar prin extrapolarea proportiei corespunzatoare a PIB/capita, dar nu cred ca diferentele sunt numai cele reflectate de statistici. De ex, salariile in domeniul bancar in Bucuresti (unde sunt angajati zeci de mii de oameni) sunt aproape duble fata de media pe tara (desi in orase precum Cluj, Timisoara, Constanta ele se apropie de cele din Bucuresti).

[Whiteeclipse]

Fastest growing industries in terms of exports

The growth of exports, which have outpaced imports in six out of the last seven months, indicates that the results of investments of the last few years have started to show in an improved export structure, which is helping to stabilise the trade deficit.

Out of all the major categories worth of over 100 million euros, cars, equipment, technology and generally high-added value products are the ones that witnessed the fastest export growth in the first four months of this year.

"The car and transport equipment industry accounts for the largest share of Romania's foreign trade. The increase in production capacities as a result of investments in this segment makes a positive contribution towards the gradual reduction of the trade deficit," stated Rozalia Pal, chief economist of UniCredit Tiriac Bank.

Although imports are higher in absolute value, which led to a 10.8 billion-euro trade deficit in the

first six months and an increase of 11%, the growth rate has been slowing down since December 2007.

"The trade deficit trend in the first half is, in my opinion, encouraging; we are seeing exports increase faster than imports and an annual growth rate of 11.3% much below the 67% growth rate registered during the same period of last year. The trend is also generated by the structural improvements of exports," stated Georgiana Constantinescu, an analyst at Credit Europe Bank.

Exports witnessed an over 21% annualised growth rate in June if calculated in euros, while imports are one step behind in terms of growth since the first half of the year.

The highest export growth in the first half of the year of all the high-value categories was registered by the "Office or automated data processing machines and devices" category, up 197% compared with the first four months of 2007.

"Boosting exports for certain product categories is part of the national strategy, we try to export products with as high an added value as possible, to move from timber to computers. We are not allowed to ban exports of certain products, but laws are a tool we can use to influence their structure," stated Valentin Brebenel, an advisor at the Foreign Trade Department.

The rankings of the highest annualised increases of exports and imports by product categories indicate the Romanian market's trend to import furniture, instead of exporting it.

Although the nominal value of furniture exports remains over three times higher than that of imports, given the forest resources of the country and the tradition of the sector, the fact that furniture ranks third in terms of import growth is a good sign, officials stated.

"Legally, there is a maximum volume of lumber that can be cut every year, precisely to cap exports in this field. As for electrical power trade, it is not easy to set regulations, since the major electricity companies have long-term agreements in place with foreign partners," the official of the Foreign Trade Department added.

http://www.zf.ro/articol_183768/fastest_growing_industries_in_terms_of_exports.html

Foreign investments up 60% in H1

Foreign investments made in the first half of the year came close to 5 billion euros, higher than initially estimated and around 60% higher against the same time last year. They could amount to as much as 10 billion euros by the end of the year, if the trend witnessed in the first six months continues. The value of foreign investments as contribution to the capital of companies registered in Romania amounted to 2.58 billion euros in the first half, more than double the level in the corresponding period of last year, according to data from the National Trade Registry Office (ONRC).

E-ON Gaz Romania is the most important player, having performed a 303.2 million euro capital increase according to ONRC statistics. Telephony ranks next, with Telemobil - 131.2 million euros and Cosmote - 89.9 million euros. Other significant capital subscriptions were recorded on the real estate segment, after Bel Rom received a 58.6 million euro capital inflow and Green Properties received a cash injection worth 55.3 million euros.

http://www.zf.ro/articol_183771/foreign_investments_up_60__in_h1.html

[joce23]

Varujan Vosganian: In 2012 the average wage to reach RON 3,000, pensions RON 1,300
Nineoclock (http://www.nineoclock.ro/index.php?page=detalii&categorie=business&id=20080818-513222)

According to the Minister of Finances, the GDP hike is achievable when taking into account the government investments and the foreign investments, the European funds and the hike in the banking system’s and the insurances system’s capital.


In 2012 the GDP per capita will stand at EUR 10,000, so the average gross wage will stand at RON 3,000, and the average pension will reach a level of RON 1,250 – RON 1,300, Varujan Vosganian, the Minister of Economy and Finances, stated on Saturday in Iasi, the Money Channel informs. According to him, the goal is to close the economic development gap between Counties, considering that Timis County has a GDP per capita level of EUR 8,200, with Botosani County standing at the opposite end with a GDP per capita level of EUR 3,200.

‘The goal is to get close to being the 7th best economy in the European Union. We estimate that the GDP will grow from today’s EUR 135 bln to EUR 220 bln. Likewise in 2012 the GDP per capita will stand at EUR 10,000. The average gross monthly wage will stand at RON 3,000 and the average pension at RON 1,250 – RON 1,300, Vosganian stated. The Minister pointed out that this GDP growth is achievable, considering among other things the Government’s future investments, the foreign investments, the European funds that will be tapped and the growth of the banking system’s and insurance system’s capital.

‘The state budget investments stood at 15 per cent in 2007. This year they will grow to 18 per cent and in 2009 I think we will approach the 19 per cent level. Our estimates are that the foreign investments will register a level of EUR 30 – 40 bln in 2009-2012; the budget investments will register a level of EUR 30 bln and the European funds a level of EUR 25 bln’ the Minister of Economy and Finances also stated. Varujan Vosganian added that hiking the infrastructure funds to a level of 6 per cent of GDP is one of the priorities of the governing program for the 2009-2012 period.

‘The health system funds will grow too. Normally they should grow from today’s 4.5 per cent of GDP to 7 per cent of GDP, including both state and private contributions’ the Minister of Economy and Finances pointed out.

[joce23]

Property developer Willbrook buys 10,000 ha in Dobrogea for energy and agriculture
Financiarul (http://www.financiarul.ro/2008/08/18/property-developer-willbrook-buys-10000-ha-for-energy-and-agriculture/)


UK property developer Willbrook Management International, one of the biggest players on the relevant regional market, present in Romania, Czech Republic, Poland, Latvia, Georgia, Bulgaria and Turkey, has extended the portfolio of projects after it bought 10,000 ha of land in Dobrogea (south-east region), the Saptamana Financiara weekly writes in its latest issue.
The representatives of the company say they took the decision to invest in agriculture and energy because they will focus on the ecologic factor. The firm, brings to Romania NASA technologies and aims at promoting “green” on the markets where it is active.

Dobrogea was chosen mainly due to a sentimental reason, said Daiana Voicu, managing director of WMI, as several members of the company’s management were born in this part of the country.
What counted the most was the fact the region has a good position on the map of winds, and WMI wanted to enter the generation of green energy. The 10,000 ha will be dedicated to agriculture and generation of wind energy, with the two projects to be unfolded on the same surface.

The firm set up a special division, called Willbrook Energy, which draws up the documentation for the wind project. “We are analysing the energy project. On this segment, Romania does not differ much from other locations in the world. It is quite a cumbersome procedure, there are very many parameters that must be analysed and measured”, explained Daiana Voicu.

WMI has announced recently the launch of the residential complex Oxford Gardens, project aiming the high-end segment of the residential market in Bucharest. Oxford Gardens, situated in northern Bucharest, with an area of some 25 ha, illustrates the concept of 5-star residence: exclusivist location in the mist of the nature, generous spaces, English gardens and state-of-theart equipment. The complex will include in the first phase 200 properties. The same technology was implemented in the project Willbrook Platinum Business and Convention Center, a centre that includes two office buildings connected by a passageway, with an area of 63,000 sqm, developed on an investment of over 100 million euro, at the entry in Bucharest.

A NASA technology will be used here, which will replace the bituminous materials used in construction. According to Daiana Voicu, it is about “a nano-technology that is introduced in the concrete to seal it completely, thus eliminating all the heavy and toxic membranes”. The company aims at educating the market and show also the other entrepreneurs how they can access these technologies that are not more expensive than the classic materials but have much better characteristics.

Willbrook is trying to register the Romanian Council for Ecologic Buildings, an organization to which it wants to draw as many developers and constructors as possible. The managing director of the firm said this is facing bureaucratic procedures. After the Council is registered, there will be several presentations of the technologies and materials.
The company is unfolding 25 real estate projects in Romania, which will be finalized in the next 2 years. Their total value amounts to some 2bn euro. However, WMI announced it could no longer expand its portfolio due to the “administrative and political deadlock” pm the local market.

“We have operations in several locations in Romania. In addition to Bucharest and Ilfov County, we have a significant presence in Timisoara (west), projects in Brasov (centre) and Constanta (south-east) and we carefully consider other important cities. For the time being, we believe we have covered in Romania the important areas and we will stay for a period in standby to see what happens at political-administrative level”, Daiana Voicu said.

[Le Clerk]

The company will produce steel derivates for industrial buildings.


Autor: Mediafax
Data: 19-08-2008

Plannja AB va incepe productia, in urma unei investitii de cel putin 4 mil. euro

Compania suedeza Plannja AB, specializata in productia de profile din tabla de otel, intentioneaza sa inceapa productia in Romania, valoarea de inceput a investitiei fiind situata la patru milioane de euro. Investitia va fi initiata anul viitor, pe un teren de circa 5 hectare, situat langa Bacau, la Racaciuni, potrivit Nicolei Bocaciu, directorul de vanzari si de marketing al Plannja SRL. Plannja AB a preluat miercuri, 13 august, operatiunile fostului distribuitor autorizat al companiei din Romania. In urma operatiunii de preluare, tranzactie care nu a depasit trei milioane de euro, potrivit lui Bocaciu, noua firma, Plannja SRL, urmeaza sa functioneze ca sucursala a companiei din Suedia. "Se vor construi unitati de productie de cate 3.000 de metri patrati fiecare, care vor intra in folosinta una dupa alta. Vor fi maxim cinci unitati, proiectul este deja in lucru la arhitecti", a spus Bocaciu. Potrivit sursei citate, planurile referitoare la productie nu au fost facute publice deocamdata. "Plannja este divizia in cadrul Swedish Steel care prelucreaza tabla de otel suedez si o transforma in produse finite, destinate pietei materialelor de constructii, rezidentiale sau industriale. Putem sa trecem in revista gama de produse, tigle metalice, tabla de faltuit, casete de fatada, panouri sandwich pe baza de vata minerala, jgheaburi si burlane, profile cutate pentru constructii industriale, ca sa ne putem da seama care ar putea fi optiunile pentru productia din Romania", a afirmat Bocaciu. Plannja SRL mizeaza in 2008 pe afaceri in crestere cu maxim 20%, comparativ cu nivelul consemnat in 2007, de trei milioane de euro. "Pentru anii 2009-2011, prin largirea gamei de produse si prin dezvoltarea retelei de dealeri, estimam o crestere succesiva de peste 300%, bazata si pe sustinerea livrarilor prin productia locala", mai arata oficialul companiei. Plannja AB este parte a producatorului de otel Swedish Steel AB si are o cifra de afaceri anuala de 160 de milioane de euro.

[Wizzard]

Is it true that after 2007, when Romania joined EU and established a visa duty for Moldova, a lot of Moldovans asked for Romanian citizenship?

[Le Clerk]

Is it true that after 2007, when Romania joined EU and established a visa duty for Moldova, a lot of Moldovans asked for Romanian citizenship?

Yes, about 800.000, but the large majority of these applications are still to be processed .

[Le Clerk]

Autor: Ziarul Financiar
Data: 20 Aug 2008



1. Vosganian: Economia a crescut cu 8,3% in primul semestru. Ministrul Economiei si Finantelor, Varujan Vosganian, i-a spus, miercuri, premierului Calin Popescu Tariceanu, in sedinta de Guvern, ca potrivit datelor preliminare pe care le-a primit cresterea economica din primul semestru a fost de 8,3%.

Anul trecut, Romania a inregistrat o crestere economica de 6%.

:)

[tomis3]

Autor: Ziarul Financiar
Data: 20 Aug 2008



:)

This is for Q1 and Q2???

[Le Clerk]

H1 2008, that is first 6 months, y/y.

[tomis3]

H1 2008, that is first 6 months, y/y.

So this would mean we picked up some steam durring Q2....

[Le Clerk]

Why? Remember, it's y/y.

[Le Clerk]

Business Standard
21/08/2008




Voestalpine: We have contracted about half the land in the Agigea-Constanta area


Voestalpine, the Austrian company that intends to build a steel plant at the Black Sea, has contracted almost half of the land in the Agigea-Constanta area, according to a declaration for Business Standard by the company’s spokesman, Peter Schiefer.

“We managed to contract almost half of the land near the Lazu village in the Agigea Commune, which we are interested in. The contracting process is quite difficult, especially due to the bureaucracy,” added Schiefer.

Voestalpine is aiming for some 600 hectares, of which 170 close to the port, to be concessioned from the state for 50 years. According to sources close to the negotiations, the memorandum with Romania will be signed in September. “Changes are minor. At present, changes requested by the Romanian government are being added, as well as environmental issues regarding costs for decontaminating the ground on the land to be concessioned, if this is highly polluted,” said the same sources.



:banana::)

[RichKid_01]

Business Standard
21/08/2008





:banana::)

How much is this investment? How many jobs is it going to create? What do you think of this amazing investment (600ha)?

[High Mileager]

^^ aprox 5 bilions euros! ..not sure about jobs.

[Le Clerk]

They need more than 5.000 employees for this plant.

[tomis3]

Have they made the decision official yet? I haven't heard anything.

[Le Clerk]

Nope, they are just sniffing around the best offer the competing governments and countries have...but it is only in Romania I heard they started to secure land purchase options so far. The interesting news is that VA announced about 1 month ago they secured purchase options for about 100 ha. Now they announced they have secured half the 600 ha they need. It seems they are moving fast and quitely, as they should actually, as they do not want to alert land speculators there.

[tomis3]

Nope, they are just sniffing around the best offer the competing governments and countries have...but it is only in Romania I heard they started to secure land purchase options so far. The interesting news is that VA announced about 1 month ago they secured purchase options for about 100 ha. Now they announced they have secured half the 600 ha they need. It seems they are moving fast and quitely, as they should actually, as they do not want to alert land speculators there.

Considering recent events, Ukraine is probably out the race. I don't see Voestalpine investing such a considerable amount there at the moment. Turkey never seemed reasonable to me since it is too far from Europe's industrial core....so I guess it's between us and Bulgaria.

[joce23]

see also: http://www.skyscrapercity.com/showpost.php?p=23684166&postcount=255

[Le Clerk]

^^There goes the business tourism at the Black Sea getting a big push ahead. :cheers:

[#Alex]

How many jobs is it going to create?

10 000-12 000 employees

Potrivit conducerii APMC, construirea in judetul Constanta a combinatului siderurgic are o serie de avantaje, cum ar fi cresterea traficului in Portul Constanta cu 20 milioane de tone anual (13-14 milioane de tone din traficul de materii prime necesare functionarii combinatului, la care se mai adauga si cca. 7 milioane de tone de laminate ce vor fi fabricate in viitorul combinat siderurgic). Pe langa cresterea traficului portuar, un alt avantaj ar fi reprezentat de faptul ca vor fi create cca. 10.000-12.000 locuri noi de munca. Cu toate acestea, combinatul siderurgic ar putea avea doar un dezavantaj legat de o eventuala poluare, a aratat Matei, adaugand insa ca acest obiectiv va trebui sa se conformeze normelor foarte stricte de protectie a mediului.

replicaonline.ro

[Le Clerk]

H1 GDP growth at 8.6% and Q2 growth at 8.9% :nuts:

Here. (http://www.zf.ro/articol_184239/_font_class__textcolorrosu__romania__crestere_economica_record_de_8_6___font_.html)

[Le Clerk]

So this would mean we picked up some steam durring Q2....

You're right!

[tomis3]

H1 GDP growth at 8.6% and Q2 growth at 8.9% :nuts:

Here. (http://www.zf.ro/articol_184239/_font_class__textcolorrosu__romania__crestere_economica_record_de_8_6___font_.html)

I thought Q2 numbers were supposed to be released on September 1st.

[Le Clerk]

It's the minister. Didn't you know he clarvoyant? :lol:

[Le Clerk]

^^


Romania, crestere economica record in prima jumatate a acestui an, asteptari mari pentru final de an
de Adrian Vasilache HotNews.ro
Joi, 21 august 2008, 16:47 Economie | Finanţe & Bănci

Economia Romaniei a crescut in prima jumatate a acestui an cu 8,6%, pe fondul unei cresteri economice de 8,9% in trimestrul al doilea, valori record pentru ultimele doua decenii, a declarat, joi, ministrul Economiei si Finantelor, Varujan Vosganian, citat de Mediafax. Mai mult, acesta spune ca investitiile straine directe ar putea depasi 10 miliarde euro in acest an. Fostul ministru de Finante, Ionut Popescu, crede ca am putea asista si la o crestere economica de peste 8% in acest an, o imbunatatire a prognozei de crestere economica pentru 2008 fiind asteptata si din partea Comisiei de Prognoza.

"Nu am mai avut o astfel de crestere economica de cel putin doua decenii. Mi-e foarte greu sa fac o comparatie cu perioada dinainte de ''''89, dar de cand am introdus indicatorul PIB acestea sunt niveluri record", a spus Vosganian.

El a aratat ca in aceste conditii Romania ar putea sa avanseze pana in 2012 pe pozitia a 12-a intre statele europene din punct de vedere al Produsului Intern Brut. Potrivit lui Vosganian, cresterea economica se va mentine la ritmuri inalte si in urmatorul deceniu, ministrul aratand ca are o prognoza de 450 de miliarde euro pentru PIB in 2020.

Ionut Popescu: Este posibil sa avem crestere economica de peste 8% in 2008

Ionut Popescu, fost ministru de Finante, spune ca aceste rezultate sunt reale si ca pentru acest an, cresterea economica ar putea trece de 8%.

"Sunt date corecte. Este posibil chiar sa avem la sfarsitul acestui an crestere de peste 8%. Chiar daca da putin inapoi acest trend in al doilea semestru, tot vom avea crestere economica spectaculoasa, peste toate prognozele. Acum se vad practic efectele introducerii cotei unice, pentru ca dupa aceasta masura au venit investitiile, care abia acum au inceput sa-si arate roadele", a precizat pentru HotNews.ro Ionut Popescu.

In opinia fostului ministru, scaderea economica din restul Europei, reorienteaza jucatori straini catre furnizori mai ieftini si catre tari unde preturile sunt mai mici, precum Romania.

"Aceasta este explicatia si pentru cresterea mare a exporturilor. Este o oportunitate, depinde cum vom sti s-o gestionam in continuare. Cred ca si pargul de 10 miliarde euro investitii straine directe poate fi atins si aceasta este cu atat mai spectaculos cu cat nu mai este vorba de vanzari precum BCR sau Petrom", a mai spus Popescu.

CNP, asteptata sa revizuiasca pozitiv prognoza privind cresterea PIB pe 2008

Estimari pozitive sunt asteptate in perioada urmatoare si din partea Comisiei Nationale de Prognoza (CNP). In luna iunie a acestui an, Ion Ghizdeanu, presedintele acestei institutii, a declarat ca datorita evolutiei economiei peste asteptari, prognoza privind cresterea PIB pentru 2008 va fi, cel mai probabil, revizuita in urcare cu 1%, de la 6,5% la 7,5%, in toamna.

In primele sase luni ale anului trecut, avansul PIB a fost de 5,8%. La nivelul anului trecut, avansul economic a fost de 6%, iar estimarile Comisiei Nationale de Prognoza indica pentru 2008 o crestere de 6,5%. Potrivit datelor biroului european de statistica Eurostat, investitiile straine directe in Romania, in 2007, s-au ridicat la 7,3 miliarde euro, fata de 9,1 miliarde euro in anul anterior.

[tomis3]

It's the minister. Didn't you know he clarvoyant? :lol:

He should not be allowed to do this. GDP (along with other economic indicators) should be released by the Stats institute and no-one should get a peak in advance.

By blabbering out economic data whenever he feels like it, Vosganian is not helping the image of Romanian capital markets.

[Robi_damian]

But if the news is true, Romania's economy is steamrolling ahead. If this keeps up we may have a "Carpathian tiger" around :D

[tomis3]

But if the news is true, Romania's economy is steamrolling ahead. If this keeps up we may have a "Carpathian tiger" around :D

I don't know...Isarescu keeps saying that a growth rate above 5-6% is not sustainable for us.

[Cosmin]

It's the minister. Didn't you know he clarvoyant? :lol:
Post the minister here (http://www.skyscrapercity.com/showthread.php?t=690616) then.;)

[tomis3]

Source: zf.ro

Vosganian: Romania poate sa ajunga in topul primelor 10 puteri economice din UE in 2020


In primul semestru cresterea economica a fost de 8,6%, dar analistii considera ca este clar o supraincalzire. Economia romaneasca a inregistrat in primul semestru o crestere de 8,6%, pe fondul unui an agricol bun, iar daca ritmul de crestere a PIB si dinamica investitionala se vor mentine in perioada urmatoare, Romania ar putea sa ajunga in 2020 in topul primelor zece tari europene in functie de puterea economica, apreciaza ministrul economiei si finantelor Varujan Vosganian.

"Nu am mai avut o astfel de crestere economica de cel putin doua decenii. Mi-e foarte greu sa fac o comparatie cu perioada de dinainte de '89, dar de cand am introdus indicatorul PIB acestea sunt niveluri record", a declarat Vosganian.

In primul trimestru PIB a urcat cu 8,2%, ritmul de crestere din trimestrul II fiind de 8,9%.

Oficialul MEF a aratat ca Romania ar putea sa avanseze pana in 2012 pe pozitia a 12-a intre statele europene din punctul de vedere al PIB, fata de locul 17 ocupat in prezent.

Potrivit lui Vosganian, cresterea economica se va mentine la ritmuri inalte si in urmatorul deceniu, ministrul aratand ca are o prognoza de 440 - 450 mld. euro pentru PIB in 2020, ceea ce ar pozitiona Romania pe locurile 9-10.

"In deceniul urmator Romania ar putea sa ajunga si din punct de vedere economic pe pozitia pe care o are din punct de vedere demografic in Europa", a spus Vosganian.

In primele sase luni ale anului trecut, avansul PIB a fost de 5,8%, in timp ce cresterea economica aferenta perioadei aprilie-iunie 2007 s-a plasat la 5,6%. Avansul economic inregistrat anul trecut a fost de 6%, iar estimarile Comisiei Nationale de Prognoza indica pentru 2008 o crestere de 6,5%, existand posibilitatea de revizuire a nivelului la peste 7,5% din PIB.

Analistii considera ca avansul PIB indica clar supraincalzirea economiei, cresterea economica nefiind sustenabila pe termen lung. In ceea ce priveste evolutia din perioada urmatoare, analistii estimeaza un ritm de crestere semnificativ si in trimestrul III sub influenta anului agricol bun si o decelerare in ultima parte a anului.

"Este o crestere care beneficiaza de comparatia favorabila cu anul agricol 2007. Cresterea din constructii si servicii si intr-o masura mai mica cea din industrie reflecta conditiile monetare laxe din 2007 si, mai ales, relaxarea conditiilor de creditare. Nu este o crestere sustenabila", spune directorul departamentului de cercetare al Bancpost, Dan Bucsa.

Institutul National de Statistica va publica la

1 septembrie datele privind cresterea economica din primul semestru din acest an si din perioada aprilie-iunie.

[tomis3]

Source: Forbes.com

FRANKFURT (Thomson Financial) - German rail operator Deutsche Bahn AG. aims to buy Romanian transport company Romtrans for between 80 million euros and 100 million euros, Financial Times Deutschland reported, without saying where it got the information.

The two companies are in talks, and an announcement may come as early as next week, the newspaper said.

Deutsche Bahn is seeking to expand its business in eastern Europe, where growth outpaces that in its German home market.

Bucharest-based Romtrans was privatized in 1994 and in 2007 generated sales of about 78 million euros. The company is owned by several private persons based in Romania, the newspaper said.

[joce23]

I don't know...Isarescu keeps saying that a growth rate above 5-6% is not sustainable for us.

Who`s Isarescu?

[tomis3]

Who`s Isarescu?

Seriously??? He's the governor of our national bank.

http://en.wikipedia.org/wiki/Mugur_Is%C4%83rescu

[Cosmin]

Santierul militar naval isi schimba proprietarul

Santierul militar naval din Mangalia a fost preluat de o firma din Germania, conform declaratiilor facute de ministrul Apararii, Teodor Melescanu, cu prilejul vizitei pe fregata germana Lubeck, informeaza Mediafax.

"Germania a facut niste pasi foarte importanti. Unul dintre acesti pasi, care nu a avut parte de o publicitate foarte mare, a fost achizitionarea santierului naval militar din Mangalia. Indiferent cum se vor atribui contractele, prin licitatie, negociere competitiva este clar ca in procesul de modernizare, si mai ales de dezvoltare a Marinei Romane, Germania va avea un rol important de jucat chiar daca ne referim numai la faptul ca dispune numai de facilitatile de la Mangalia, care reprezentau singurul nostru santier militar", a declarat ministrul Apararii.
Ziarul Financiar (http://www.zf.ro/articol_184451/santierul_militar_naval_isi_schimba_proprietarul.html)

[Le Clerk]

What does this mean???? That a German military ships builder has taken over Mangalia shipyard???? :?

This is getting very interesting. ;)

[Cosmin]

So the minister said. He said the Germans will build small military ships and some of those ships may even be for the Romanian Navy. We'll see, but for the moment it sound good to me.

[Le Clerk]

You should also post this on Romania Army thread. It's very interesting. He cannot be joking about this. I think they kept it secret so far.

[Le Clerk]

So the minister said. He said the Germans will build small military ships and some of those ships may even be for the Romanian Navy. We'll see, but for the moment it sound good to me.

Check this (http://stiri.acasa.ro/articole/economie2/planuri-de-privatizare-pe-antierul-naval-mangalia) out. It appears to be the naval division of ThyssenKrupp - Blohm & Voss.

PS: This German take-over of the Mangalia shipyard will also help Romania to be even more attractive for VoestAlpine.

[Le Clerk]

Autor: Ziarul Financiar (http://www.zf.ro/articol_184558/finance_minister__romania_could_be_a_top_10_eu_economic_power_by_2020.html)
Data: 25-08-2008

Finance minister: Romania could be a top 10 EU economic power by 2020

The Romanian economy saw an 8.6% rise in the first half of the year, because of a good agricultural year, and if the GDP growth rate and the investment dynamics are preserved, Romania could become one of the top ten EU countries by 2020 in terms of economic strength, according to the Minister of Economy and Finance, Varujan Vosganian. "We have not had such a high economic growth for at least twenty years. It is hard to compare this with the time before '89, but these are record levels for the period since the introduction of the GDP index," said Vosganian. In the first quarter of the year, the GDP climbed 8.2%, while the growth rate recorded in the second quarter of the year amounted to 8.9%. The MEF official said Romania could climb to the 12th position in the ranking of European states in terms of GDP, from the 17th place at present.


:crazy2:

[tomis3]

Baba Vosganian

[Le Clerk]

Autor: Ziarul Financiar (http://www.zf.ro/articol_184559/deutsche_bahn_confirms_talks_for_romtrans_takeover.html)
Data: 25-08-2008


Deutsche Bahn confirms talks for Romtrans takeover

Deutsche Bahn, one of the leading railway operators in Europe, is in talks to take over Romanian transport company Romtrans, in a transaction estimated to be worth 80-100 million euros, according to Financial Times Deutschland, which does not specify the source of the information. ZF had announced in February that the two companies were in negotiations.

Romtrans is attractive to investors through the logistic space and infrastructure it holds, according to analysts contacted by ZF. "DB Logistics is in talks with Romtrans for co-operation with a view to developing transport services in Eastern Europe," DB Logistics representatives told ZF. DB Logistics is the transport and logistics division of Deutsche Bahn, which announced at the end of last year its intention to enter the Romanian and Polish markets, planning investments of up to 100 million euros for each country.

[Le Clerk]

Autor: Ziarul Financiar (www.zf.ro/articol_184553)
Data: 25-08-2008


FMCG marketing managers earn up to 14,000 euros per month :crazy2:

The gross salary of a marketing manager at a multinational company in the consumer goods industry with more than 1,000 employees can reach as much as 9,000 euros per month. The entire salary package, however, which includes bonuses and benefits is 14,000 euros per month in gross amount, reveals the Total Remuneration Survey conducted by HR consultancy firm Mercer.

A marketing manager earns 7,000 euros in gross amount per month, but the major multinationals in FMCG are more generous with their rewards for marketing executives. "The development of consumer spending in Romania has led to very high salary levels for marketing managers in the FMCG business, salary levels that take into account the complexity of positions, competition on the market and the trend of the turnover of the companies in the consumer goods industry," says Oana Datki Botolan, country manager of Consulteam, Mercer's partner on the domestic market.

Those that earn 14,000 euros per month are marketing managers with a 6 or 7 years' experience in such positions, that have an executive role, report directly to the CEO and implement and create the entire marketing structure of the company.

Besides bonuses, which may reach 3,400 euros in gross amount per month, the package of a marketing manager also includes such non-salary perks as a phone, a laptop and a car, medical insurance and medical subscription, whose monthly value stands at 1,600 euros.

The consumer goods (FMCG) market could go up by more than 15% this year compared with 2007 maintaining the growth rate registered in the previous period, according to the estimates market research company GfK made early in 2008. The market, put at 10 to 15 billion euros, has maintained its upward trend, because of consumer spending growth. The most developed segments of the FMCG sector are foods and beverages, markets dominated by multinationals like Coca-Cola Hellenic, Pepsi Americas, Kraft Foods and Nestle. Tobacco and cosmetics markets are also dominated by multinationals.

"The key top management positions vary according to the industry. Whereas marketing and sales positions are essential to FMCG, the most important positions in the financial-banking industry are those of chief operating officers and chief financial officers," Oana Datki Botolan explains.

In comparison, the CEO of a major multinational earns 7,400 to 12,000 euros in gross amount per month, plus the added compensation and benefits package that may drive the income up 40% to almost 17,000 euros in gross amount per month.

As a result, the salary of a CEO is 25% higher than a marketing manager's, while the salary package difference stands at 21%.

"Salary gaps at the top management level are very wide and they narrow down the ladder."

Top management salaries rose by 10 to 20% compared with last year, although they had been forecast to slow down or even stagnate.

[RichKid_01]

The thing I find is that when I come across sites that deliver services and products Romania is mostly not in the list of included countries Why is that? I dont understand being Romania having the same population as Australia and Romania becoming a very large market in 10 years time like Australia's would it not be included. It doesn't have anything to do with affluence cause India and China and other third world countries (excluding the EU) are on there. I am sure over time Romania will be added to more list of countries entitled to dedicated services that some other countries miss out. The fact is that Romania is not on the map yet, which I think is sad giving Romania's outstanding economic performance and real efforts to change and its paying off in most cases etc. But on the positive side I am sure that Romania will be placed firmly on the map soon it takes time and effort. Romania is a huge IT Market among other things and it should deserve its place on the map as soon as possible. What fucks me off is that some of these countries that have these services that Romania does not have is that those countries dont deserve to be on there e.g. India - they have basically no infrastructure yet they have their "rightful" place on there. :bash:

[High Mileager]

^^You got that right .

Unfortunately, in many ways Romania is still being overlooked.. partly because of bad image presented by some international media(there are some newspapers which won't write a positive thing about Romania,no matter what ex:Daily Mail) and partly because of the poor job done by the Romanian Government in promoting the country

[RichKid_01]

^^You got that right .

Unfortunately, in many ways Romania is still being overlooked.. partly because of bad image presented by some international media(there are some newspapers which won't write a positive thing about Romania,no matter what ex:Daily Mail) and partly because of the poor job done by the Romanian Government in promoting the country

Fuck the media, they will change their shitty ways just like they changed their shit ways about Spain 20 years ago. But on the bright side in a few years time I am sure that Romania's image will change for the better, it will take a while. Romania will start to be included in more services as the years pass and Romania becomes more affluent in the medium term - like 10 years. Look here there are more sites that have Romania on them for the services than bulgaria. bulgaria does not have basically listing on these websites. I could not find one thing with bulgaria on there. hmmm I wonder why? Just look at the shit they have stirred. In Australia we call this "burrowing in the hole". Romania's time will come but it will take a while to get it sorted.

[RichKid_01]

Here's an article that bascially repeats of what I said:

http://209.85.171.104/translate_c?hl=en&sl=ro&u=http://www.gandul.info/economia/romania-va-deveni-importator-de-forta-ieftina-de-munca.html%3F3936%3B2761346&prev=/search%3Fq%3DGandul%26hl%3Den%26sa%3DG&usg=ALkJrhhN4tu2LBamvk0fobZNVc1dDajMyg

[RichKid_01]

I heard that Romanian dentists get paid fuck loads, some of the best paid in the world. My 2nd cousin is a dental surgeon he went to the Romanian dentist congress he was talking to his Romanian counterpart who told him that. Romanian dentists in fact get paid more than $7,000 more than Australian ones. LOL:banana:

[Bytson]

Autor: Business Standard (http://www.standard.ro/)
Data: 26-08-2008

Romgaz discovers new gas deposits near Bacau. http://www.standard.ro/articol_57346/romgaz_descopera_gaze_langa_bacau.html

The national gas producer Romgaz Medias announced the discovery of a new gas deposit at 40 km from the city of Bacau, with a potential of 200.000 cubic meters per day.

[RichKid_01]

Czech Pwr Group CEZ To Develop 600MW Wind Pwr Proj E Romania

ARTICOLE PE ACEEAŞI TEMĂ
Czech power group CEZ bought from renewable power developer Continental Wind Partners, two wind farm projects in Constanta county, eastern Romania, with a total capacity of 600 megawatts, whose development costs will reach EUR1.1 billion, CEZ said in a press statement.

According to CEZ, the two projects will together be the largest onshore wind farm in Europe, approximately double the size of the next largest fully permitted onshore wind farm in Europe, and triple the size of the largest current operational wind farm in Europe.

The projects’ development will start in September and is scheduled to become operational in stages, by the end of 2010.

The first stage will be finalized late 2009, when the wind plants will have a total installed capacity of 347.5 MW, generated by 139 wind turbines supplied by General Electric.

The project has already got all necessary authorizations, CEZ representatives said.

The wind turbines currently producing power in Romania have a total installed capacity of only 7 MW.

Romania’s state-owned power grid operator Transelectrica got requests for connecting wind turbines with a total installed capacity of over 12.000 megawatts to the country’s power grid, while the two operational nuclear reactors of Romania’s sole nuclear power station Cernavoda, with a total installed capacity of some 1,400 MW, produce 17-18% of Romania’s energy demand.

The national power grid will not be able to manage the high volume of wind farms production for which Transelectrica got requests, the company’s representatives said last week.

Transelectrica’s representatives said that the company might be able to connect wind turbines with a capacity of up to 4,000 MW, adding that some 75% of wind farm projects announced will not materialize.

The most advanced wind farm project is located between Tulcea and Constanta cities, eastern Romania, with a total installed capacity of 600 MW, whose investment might reach EUR600 million.

The project might become operational in 2009.

CEZ has been present on the Romanian market since 2005, when it bought Romanian electric power supplier Electrica Oltenia.

CEZ is involved in building nuclear reactors 3 and 4 of power station Cernavoda, alongside ArcelorMittal's Romanian unit, Belgium's Electrabel, Germany's RWE, Italy's Enel SpA, Spain's Iberdola, and Romanian state-owned nuclear energy company Nuclearelectrica, the operator of Cernavoda.

CEZ and French utility Gaz de France also placed bids to upgrade and expand a power plant owned by Romania’s state-run thermal power plant Termoelectrica in Galati city, eastern Romania.

The Czech group also competes with Germany’s Electrabel and E.ON for a similar project in Borzesti.:banana:

[High Mileager]

When units 3 and 4 of Cernavoda Nuclear plant will be ready + all these projects,it's likely that Romania will become second EU country(after Denmark) which won't import energy at all.
I'm totally "pro" wind power ..
I've seen on Vestas web site that they already started to install some of their windmill in Romania(actually just one)..but we are still far behind when it comes to modern energy

http://www.vestas.com/en/about-vestas/results/results-%E2%80%93-country-by-country.aspx
http://www.vestas.com/en/

..Cosmin, you should probably move last two post under Energy...Thx

[nebunul]

^^ 2015
http://ro.wikipedia.org/wiki/Centrala_Nuclear%C4%83_de_la_Cernavod%C4%83
reactor http://ro.wikipedia.org/wiki/CANDU
Did a bit of fishing around here (few summer holidays)...walked around miles and miles :cheers:
BTW canadienii aveau oraselul lor la vremea aia: cinema, piscina, bar/restaurant, fitness etc ... ceva nou pentru Romania comunista ... si mai ieseau si cu niste masini tari prin oras ... sau la mare (constanta, mamaia) etc etc

[RichKid_01]

CEZ to build biggest onshore wind park in Europe

By Jana Mlcochova

PRAGUE (Reuters) - Czech power group CEZ plans to build a 1.1 billion euro wind park in Romania, the largest of its kind in Europe, in a move to offset emissions from dirtier coal-fired power plants.

CEZ said the two-stage, 600 megawatt project would be built around 17 km (10 miles) north of the Black Sea port of Constanta and would be around twice the size of the next biggest onshore wind farm in Europe.

Just over half the wind park would come on line in 2009 with the remainder a year later, CEZ said.

The project will be one of the largest new foreign investments in European Union newcomer Romania. The news pushed the leu currency 0.2 percent higher to 3.54 per euro.

CEZ said it bought the plans, which includes pre-approved permissions and contracts, from renewable power developer Continental Wind Partners. It will include two adjacent farms in the towns of Fontanele and Cogealac.

Central Europe's largest listed company, CEZ aims to boost spending on renewable energy due to an EU climate package proposal expected to push up costs for production from fossil fuels starting in 2013.

"Investment into renewables is one of the strategic measures we are taking to respond to the adopted energy-climactic package of the EU," CEZ Chairman Martin Roman said in a statement.

Roman added that CEZ would also extend power production from gas and nuclear plants as a way to meet CO2 emission targets.:banana::banana:

[Bytson]

Autor: ZF (http://www.zf.ro/articol_184623/francezii_de_la_societe_generale_fac_un_centru_comercial_la_bacau.html)
Data: 27-08-2008

Francezii de la Societe Generale fac un centru comercial la Bacau

Compania imobiliara Sogeprom, subsidiara a grupului francez Societe Generale, principalul actionar al BRD, se afla in faza de proiectare si autorizare a unui centru comercial in orasul Bacau, care va fi dezvoltat in parteneriat cu o alta firma franceza.

[COTNARI]

CEZ to build biggest onshore wind park in Europe

By Jana Mlcochova

PRAGUE (Reuters) - Czech power group CEZ plans to build a 1.1 billion euro wind park in Romania, the largest of its kind in Europe, in a move to offset emissions from dirtier coal-fired power plants.

CEZ said the two-stage, 600 megawatt project would be built around 17 km (10 miles) north of the Black Sea port of Constanta and would be around twice the size of the next biggest onshore wind farm in Europe.

Just over half the wind park would come on line in 2009 with the remainder a year later, CEZ said.

The project will be one of the largest new foreign investments in European Union newcomer Romania. The news pushed the leu currency 0.2 percent higher to 3.54 per euro.

CEZ said it bought the plans, which includes pre-approved permissions and contracts, from renewable power developer Continental Wind Partners. It will include two adjacent farms in the towns of Fontanele and Cogealac.

Central Europe's largest listed company, CEZ aims to boost spending on renewable energy due to an EU climate package proposal expected to push up costs for production from fossil fuels starting in 2013.

"Investment into renewables is one of the strategic measures we are taking to respond to the adopted energy-climactic package of the EU," CEZ Chairman Martin Roman said in a statement.

Roman added that CEZ would also extend power production from gas and nuclear plants as a way to meet CO2 emission targets.:banana::banana:

Press (http://www.cez.cz/en/cez-group/media/press-releases/2081.html) and the Romanian website (http://www.cez.ro/index.php?id=&b=&l=1)

[nebunul]

^^ "two projects will together be the largest onshore wind farm in Europe, with a total capacity of 600 megawatts, approximately double the size of the next largest fully permitted onshore wind farm in Europe, and triple the size of the largest current operational wind farm in Europe. The total investment of the CEZ Group into the project will reach ? 1.1 billion."
:banana::banana::banana:
:dance:

[RichKid_01]

I am absolutely sure that Bucharest by 2015 will no doubt compete with Sydney. All Bucharest needs to do is keep gaining the momentum and keep on building and creating more infrastructure that will cover the whole 2 million people. I am sure by 2015 there will be 5-7 million people in Bucharest which would be higher that Sydney by 1-3 million. Bucharest should continue making sure that Bucharest is fully connected and fully wired and highly developed IT Infrastructure, which the good news is that there are many projects underway. Once Bucharest gets more roads and more highways built it will certainly be so close to Sydney's infrastructure. FYI there are more Sydney/Australian based companies coming to Romania to invest, its showing positive results.

[tomis3]

come on...give it a rest...

[Fallen]

I am absolutely sure that Bucharest by 2015 will no doubt compete with Sydney. All Bucharest needs to do is keep gaining the momentum and keep on building and creating more infrastructure that will cover the whole 2 million people. I am sure by 2015 there will be 5-7 million people in Bucharest which would be higher that Sydney by 1-3 million. Bucharest should continue making sure that Bucharest is fully connected and fully wired and highly developed IT Infrastructure, which the good news is that there are many projects underway. Once Bucharest gets more roads and more highways built it will certainly be so close to Sydney's infrastructure. FYI there are more Sydney/Australian based companies coming to Romania to invest, its showing positive results.

You really blew it with this one :lol::lol:
How do you expect to get from around 2 mil people to 5-7 milion in just 7 years? :)) We're not in South America or Africa, where huge waves of people move to the outskirts of the big cities every year. Bucharest's population is declining. The same happens with most of the major cities. Last time i read, Bucharest had around 1,9 mil people. Do you even know how funny you sound? 5 million people in 7 years?:nuts::nuts: 7 million people in 7 years? :nuts::nuts::nuts:

We would have to abandon all big cities and move all the people from there to Bucharest. Actually, considering the fact that only ~50% of the people live in cities, 7 million would mean almost all people living in cities to move to Bucharest... ah, maybe you were thinking about bringing in chinese people and making them live in tents outside the city... :nuts::nuts:

[RichKid_01]

You really blew it with this one :lol::lol:
How do you expect to get from around 2 mil people to 5-7 milion in just 7 years? :)) We're not in South America or Africa, where huge waves of people move to the outskirts of the big cities every year. Bucharest's population is declining. The same happens with most of the major cities. Last time i read, Bucharest had around 1,9 mil people. Do you even know how funny you sound? 5 million people in 7 years?:nuts::nuts: 7 million people in 7 years? :nuts::nuts::nuts:

We would have to abandon all big cities and move all the people from there to Bucharest. Actually, considering the fact that only ~50% of the people live in cities, 7 million would mean almost all people living in cities to move to Bucharest... ah, maybe you were thinking about bringing in chinese people and making them live in tents outside the city... :nuts::nuts:

Sorry brother my confusion I was meaning when Romania becomes a net importer of immigrants/cheap labour in 10-15 years time. I agree with you about the Romanian people there. I was referring to the immigrants that will come to Romania in the near future

[Le Clerk]

Fuck, I do not want 3 million immigrants in BUcharest! I am too old to learn Chinese now or Indian. Anyway, Bucharest should not grow anymore in terms of population, but develop its infrastructure and especially the metropolitan area.

[Fallen]

Yes. For me the density is already too high.

@ RichKid, more population doesn't always mean better. Actually just imagine the traffic if Bucharest had 5 million inhabitants. The traffic is really really bad now, when Bucharest's population stands at 2 million. At 5 or 7 million ... i doubt cars would even be able to move :) Not to mention parking spaces, housings (which are not enough even for the current population), the green spaces (the same as housing)...
More population would mean disaster for Bucharest, at least on such a short term.

[RichKid_01]

Yes. For me the density is already too high.

@ RichKid, more population doesn't always mean better. Actually just imagine the traffic if Bucharest had 5 million inhabitants. The traffic is really really bad now, when Bucharest's population stands at 2 million. At 5 or 7 million ... i doubt cars would even be able to move :) Not to mention parking spaces, housings (which are not enough even for the current population), the green spaces (the same as housing)...
More population would mean disaster for Bucharest, at least on such a short term.

Yeah I agree. But dont you think it would be good for Romania to be an immigrant country in the medium future, to cover the labour shortage?

[nebunul]

IMO Romania is not (yet) prepared for mass immigration ... we can't integrate our own minorities :nuts:

[Le Clerk]

Firmele bucurestene, invitate sa participe la realizarea bazei pentru Jocurile Olimpice din 2014 de la Soci (http://www.ziua.ro/news.php?data=2008-08-28&id=11885)

:crazy:

[RichKid_01]

IMO Romania is not (yet) prepared for mass immigration ... we can't integrate our own minorities :nuts:

We have the same problem to in Australia our indegiounous people are the Aboriginies and we have great trouble trying to integrate because

1) they dont want to be part of Australian society
2) they have huge issues to deal with

and among other things

Also we have the arabs who dont want to assimilate and want to start bashing every non Australian arab that comes across, im sure you know about the cronella riots? We weren't racist we just so fed up about these arabs beating people up, they would start throwing insults, throwing shit at us it was about time we stood up and stopped this shit against us. I know exactly what your talking about.

[tomis3]

Moody's: Ar fi foarte neobisnuit ca Romania sa evite o incetinire economica abrupta anul viitor

Source: zf.ro

Economia va incetini abrupt in trimestrul IV al acestui an si in prima jumatate a lui 2009, iar guvernul si Banca Nationala vor fi supuse unui test sever in urmatoarele 18 luni, anticipeaza agentia americana de rating Moody's. "Ar fi foarte neobisnuit ca Romania sa poata evita efectele incetinirii economice care are loc la nivel global, antrenata de criza creditului. Politica fiscala este in prezent destul de relaxata, iar in conditiile in care economia va incetini, guvernul va trebui sa decida daca vrea sa intareasca politica fiscala accentuand scaderea sau sa permita o crestere semnificativa a deficitului bugetar", a comentat pentru ZF Kenneth Orchard, analist senior al Moody's specializat pe tarile din regiune.

In acelasi context, el considera ca banca centrala ar avea ceva spatiu de manevra pentru reducerea dobanzii de politica monetara, insa va trebui sa se asigure mai intai ca trendul de scadere a inflatiei este solid restabilit.

Conform estimarilor Moody's, inflatia a atins un varf in iulie (9,04%), insa nu este de asteptat sa scada prea mult pana la sfarsitul anului, prognoza pentru decembrie fiind in jurul a 8%, adica mult peste cea a BNR si ale analistilor locali.

Cat priveste cresterea economica pe anul in curs, Orchard o vede la circa 6,5%, in ciuda cresterii puternice din primul semestru (8,6%) care ar urma sa fie erodata in trimestrele III si IV. El nu face insa referire la productia agricola, care ar putea continua sa sustina dinamica PIB.

Asemenea celorlalte doua mari agentii de rating - Fitch si Standard&Poor's - Moody's considera ca "economia pare sa se supraincalzeasca".

"Inflatia ridicata, deficitul de cont curent substantial, cresterea rapida a salariilor si a creditului - toate constituie semne ale unei economii supraincalzite. Este imposibil de spus cu exactitate care este cresterea economica potentiala (neinflationista), insa probabil ca aceasta este mai apropiata de 6% decat de 8% pe an", afirma Orchard.

In privinta deficitului extern pe 2008, Moody's avanseaza o prognoza de 14% din PIB, insa considera ca nivelul ar putea fi si ceva mai scazut.

In ciuda semnelor de supraincazire a economiei, problema care ar fi insa rezolvata de incetinirea abrupta anticipata pentru prima jumatate din 2009, Moody's are o evaluare stabila asupra ratingului de tara al Romaniei.

"Este putin probabil ca Romania sa fie retrogradata in afara grupei tarilor cu risc scazut pentru investitii", sustine Kenneth Orchard.

Totusi, el reaminteste ca agentia este ingrijorata de politica fiscala relaxata, de deficitul extern mare si de posibilitatea ca Romania sa se confrunte cu o incetinire economica severa.

"Ratingul este insa bine sustinut de nivelul redus al datoriei publice si de faptul ca economia este mai solida si mai diversificata decat acum 10 ani." Orchard avertizeaza ca Moody's ar lua in considerare o scadere a ratingului in cazul in care Romania ar ajunge sa inregistreze deficite bugetare mari pe termen mai lung in absenta unei reforme fiscale sau daca ar constata o inversare a trendului de reforme economice si institutionale implementate in cursul procesului de pregatire pentru intrarea in Uniunea Europeana.

Romania are perspectiva negativa de rating de la Fitch si Standard&Poor's, analistii S&P urmand sa vina saptamana viitoare la Bucuresti pentru o vizita de documentare.

Fitch: Pe locul 5 in topul celor mai vulnerabile tari

Romania ocupa locul cinci, la egalitate cu Estonia, intr-un clasament al celor mai vulnerabile state europene emergente la presiunile legate de finantarea externa, potrivit unui top intocmit de agentia de evaluare financiara Fitch Ratings.

"Fitch a realizat un indice al vulnerabilitatii relative la presiunile legate de finantarea externa, bazat pe balanta contului curent, investitiile straine directe, platile externe care trebuie efectuate in acest an si datoriile unui stat. Din studiu a reiesit ca Letonia, Croatia, Lituania, Turcia, Estonia, Romania si Bulgaria sunt cele mai vulnerabile state", se arata intr-un raport al agentiei. Astfel, primul loc in topul Fitch este ocupat de Letonia, urmata de Croatia pe pozitia secunda si de Lituania si Turcia pe locul trei. Bulgaria se regaseste pe pozitia a saptea, fiind urmata de Ungaria. Anul trecut, cinci state europene emergente, Letonia, Bulgaria, Georgia, Republica Moldova si Estonia, au inregistrat cele mai ridicate valori ale deficitului de cont curent din cele 105 tari evaluate de Fitch, iar Romania si Lituania s-au plasat, de asemenea, in top zece.

[Fallen]

Vreau sa intreb si eu ceva legat de economie.
Am citit despre deficitul bugetar, cam ce inseamna si cum se poate ameliora. Dar ce nu am inteles exact e cum afecteaza un deficit bugetar (mare) economia unei tari.
Can anybody help? Thanks :)

[nebunul]

http://ro.wikipedia.org/wiki/Deficit_bugetar
http://en.wikipedia.org/wiki/Deficit

[High Mileager]

Moody's: Ar fi foarte neobisnuit ca Romania sa evite o incetinire economica abrupta anul viitor

I've seen others saying the same thing before..but it looks like they always base their analysis on the same factors which are relevant in their country forgetting that Romania has its own specific and that Romanians have a very different mentality.I've seen yesterday a post about a guy who's managing a fund of bilions(articolul ala.."Prea scump pt americani")..The guy just kept on postponing to invest till the land prices in some areas got "similar to Manhattan".. now he's waiting for a "drop"..which personally I don't think will happen, simply because our country functions differently ..
There is lots of construction going on (and it will continue for at least 5 years ..in my opinion), our agriculture will restart to perform better and better(this year is a good one), the EU funding programs will trigger many new investments etc..to name only few aspects.

[Gekko's]

Moody's: Ar fi foarte neobisnuit ca Romania sa evite o incetinire economica abrupta anul viitor

Source: zf.ro

Please a summary in English....

[High Mileager]

Please a summary in English....

"It would be really unusual if Romania's economy will manage to avoid an abrupt slow down next year"..

the article in English can be found at www.moodys.com (register and than search word "Romania")

cheers

[nebunul]

Please a summary in English....

For future try this http://translate.google.com/translate_t#
It's (just) OK

[RichKid_01]

According to one of my friends who work at Apple Computer, said the EU iTunes store is going to be expanded to all 27 Members soon. It is in the process of being designed, I will let you know of more information when it comes. So look forward to having Apple at your fingertips. The EU sued Apple last year because the EU believed that the iTunes store should be accessed from every EU Country - 27 Members, and Apple has decided to take action and therefore will be providing the iTunes Store to all EU Countries. Other countries outside the EU are going to get it also e.g. Mexico, Lebanon, Russia etc basically the countries that have the iPhone released.

[Le Clerk]

Business Standard (http://www.standard.ro/articol_57666/german_economists_estimate_that_romania___s_economy_will_slow.html)



German economists estimate that Romania’s economy will slow

28 august 2008 de Bogdan Asaftei

The growth rate of the Romanian economy could significantly slow in the coming six months, according to German economists interviewed by the CESifo Institute of Munich University.

Economists also foresee lower inflation in the third quarter, at 7 percent, compared to 7.2 percent in the April-June period. For Eastern Europe, inflation is estimated at 6.3 percent, compared to 5.8 percent in Q2.

Along with Romania, several other countries in the region, namely Estonia, Hungary, Latvia, Lithuania, and Poland will register slower gross domestic product (GDP) growth. Only Slovakia and the Czech Republic are likely to post solid growth in the second half of 2008. The negative perspective is due to the impact of the euro-zone, where the economic climate registered a general decline.

However, Romanian analysts disagree with the CESifo Institute report. “I do not think the scenario drawn up by the university is plausible. Given we have a significant advance in the construction sector and a good agricultural year, I do not think we can expect a significant slowdown. The impact of the euro-zone is very low on Romania. If the euro-zone GDP would slow from 2 percent to one percent, the economy of our country will slow by 0.5-0.7 percentage points,” according to Raiffeisen Bank Romania’s head of Macroeconomic Research, Ionut Dumitru.

In fact, the agriculture sector could bring record growth. “I do not think there will be a slowdown. At least not in the third quarter and not a major one. Romania’s agriculture does not depend on Western Europe’s economic slowdown. I think the third quarter will be one of the best this year,” lender Banca Comerciala Romana (BCR)’s Chief Economist, Lucian Anghel, told Business Standard.

Both Dumitrescu and Anghel indicated that slower economic growth is possible next year.

Romania’s GDP rose 8.6 percent in the first half of 2008, boosted by a record 8.9 percent growth in Q2, according to Finance Minister Varujan Vosganian recently.

[keanu]

^^ If these news will continue in this way they can become true. I am not 100% sure but this can also be a manipulation. :ohno:

[d29]

http://www.ft.com/cms/s/0/867c0148-6353-11dd-9fd0-0000779fd2ac.html?nclick_check=1

[High Mileager]

^^^^
Of course if the German or American economists are being asked about Romanian economy..they will have to come up with an answer..
They can't just say "I don't know"..it wouldn't look good on them..so they will say something general ..cautiously put ..and as the world largest economies have been slowing down..when asked an economist will just play safe by saying "yeah..that economy it will slow down as well"..simply cos that's the current trend .
Nobody knows what actually happens..

http://www.youtube.com/watch?v=EXmtQii9FlQ

[joce23]

German economists estimate that Romania`s economy will slow
^^
Bullshit ! Rich_Kid01 knows our economy better than they do.

IMO, Romania economic boom will continue to thrive very well into the next 3-5 years. :cheers:

------

Romanian exports see improved structure


The Romanian exports have recorded structural improvement, analysts said, adding such improvement is mainly backed by the producers having turned to high value-added goods, while re-tooling and the depreciation of the national leu currency are the main causes for the increase in exports, the Business Standard daily reports on August 18.
The improved exports are a result of foreign investment and imports of technology.

The exports outpaced imports in the last six months. In June alone the volume of exports climbed by 21% in euro terms. This compares to a rise in the Hungarian exports by 7.6% while the shipments made by the Czech Republic and Poland advanced by 19.4% and 16.1% respectively.

The increased exports seen by Romania this year, having grown faster than imports, was little anticipated by the financial market last year. Only part of the economists and part of the authorities said last year that the relation between exports and imports would change in 2008. Former Labour Minister Gheorghe Barbu said in last September that the imports would slow down, since Romania had imported the technology it needed.

"Now the time has come for us to export what we are going to produce with such technology", Barbu said. His remarks are backed by this year’s realities, though they seemed little credible last year. The advance posted by the deliveries based on the imports of technology was also anticipated by the Banca Comerciala Romana (BCR) chief economist Lucian Anghel. "It takes a 3 to 5 year cycle for the imported technology to begin to produce export. One of the areas where the technology imports have been extremely efficient in this respect is the processing industry, the car-making industry in particular. The export figures were very good in the first 6 months of this year and I think they’ll keep steady in the full-year too", Anghel stressed.

He says Romania in the third quarter will export grain, since it had a bumper crop. The analysis also anticipated the narrowed current account gap, he added.

The current account deficit climbed by 8.48% in the first half-year to 7.98 billion euros, according to figures released by the National Bank of Romania.
... http://www.financiarul.ro/2008/08/30/romanian-exports-see-improved-structure/

[nebunul]

Hard to say, I too believe that we've got left at least 2 years of decent growth (though, I'm a bit concerned about (our unsustainable IMO) real estate boom that may burst as early as next year; or the year after) ... and a normal slow down (only 4-5% yearly growth) may come after 2010/2011. But this depends on global economic outlook (mainly China/USA) - and it does not look bright at the moment :ohno:
http://www.deloitte.com/dtt/cda/doc/content/dtt_dr_globecon08_010708%282%29.pdf

[High Mileager]

This is how these guys like to see it..

CTP Romania - NEW CTPark Madaras
June 18, 2008

Industry experts are tipping Romania for big things in the very near future. GDP is forecast to double by 2011, no doubt due to the countries exceptionally low flat rate tax and an abundance of highly skilled labour. Because of this, firms from around the world are flocking to take advantage of the opportunities available in a country in a state of rapid growth. CTP Invest is no different, and this month announced their continued commitment to provide substantial investment in Romania by signing a deal to create it’s forth location in the area of Madaras. The 67ha site is located next to Salonta in West Romania, and will be a new and greatly anticipated strategic address within the CTPark Network Madaras is advantageously located in the west of Romania, ideally connected to the Hungarian motorway network and adjacent to one of the most important transportation corridors in Romania. The site offers excellent connectivity to major cities in the west part of Romania and throughout the region as a whole.

http://www.ctpark.eu/?go=news&id100=1004&detail=58

[Cosmin]

German economists estimate that Romania’s economy will slow
That's the singe undeniable truth in that article. Everything else is just speculation.:yes: Every economy has it's ups and downs, thus every economy will eventually slow down, but saying it will do so in the next n months is just bullshit. If they also predict the exact moment in time when this will happen I'll have to award them the Bullshit of the Year award.:cheer:

P.S.: sooner or later, the real estate bubble is going to burst big time. Personally I can't wait.:lol:

[RawLee]

Madaras is advantageously located in the west of Romania, ideally connected to the Hungarian motorway network
And from the slovakian motorways thread:
And finally, as a result of the improvements in the connection of the Kosice region to the European highway network via Hungary, a new big investment in the Kechnec industrial park has been announced today

Its very f*ckin good you guys live off us...

[Le Clerk]

^^:lol:

C'mon RawLee, you did sneatch the Daimler plant. So don't complain! :D

[RawLee]

^^:lol:

C'mon RawLee, you did sneatch the Daimler plant. So don't complain! :D

Its not about getting the factories or not...its that you advertise us as a benefit for you...

[Le Clerk]

Its not about getting the factories or not...its that you advertise us as a benefit for you...

Err, I meant you also benefit (more) from the motorways you build, not only ourselves. :D

[Cosmin]

Bucharest is a great city, ideally located just a short flight from Budapest. Come visit Bucharest!:D

[Robi_damian]

http://news.bbc.co.uk/2/hi/business/7585929.stm

Czech power firm CEZ is to build what it says will be Europe's largest onshore wind farm, in a 1.1bn-euro ($1.6bn; £886m) project.

The wind farm is set to have a generation capacity of 600 megawatts and will be located in Romania.

Construction of the wind farm will start in September and it is due to begin operating in 2009.

Investment in renewable energy is increasing as EU rules make production from fossil fuels more expensive.

The current largest onshore wind farm is located in Whitelee in Scotland.

"Investing into renewables is one of the strategic measures we are taking to respond to the adopted energy climactic package of the EU," said Cez chairman, Martin Roman.

Eastern Europe relies heavily on coal and nuclear energy but is trying to shift away from its dependence on such fuels.

[RichKid_01]

Good News! According to IMF estimates Romania will have the highest per capita in the Balkans and Eastern Europe but not Central Europe. by 2013 it will reach over $17,000 in PPP International Currency $ and $17,000 US Dollar Nominal. Here's the site:

http://www.imf.org/external/pubs/ft/weo/2008/01/weodata/weorept.aspx?pr.x=94&pr.y=9&sy=2006&ey=2013&scsm=1&ssd=1&sort=country&ds=.&br=1&c=968&s=NGDPPC%2CNGDPDPC%2CPPPPC&grp=0&a=

If you want to compare then check out the other Balkan Countries and Bulgaria included you will get what I mean. Romania will have a strong currency that almost equates to US and International conversions not many countries do that quite early as Romania does. When the next financial comes Romania's per capita will be upwardly revised because of Romania's higher than expected growth rate this is temporary for the time being. :banana::cheers:

[RichKid_01]

Good News! According to IMF estimates Romania will have the highest per capita in the Balkans and Eastern Europe but not Central Europe. by 2013 it will reach over $17,000 in PPP International Currency $ and $17,000 US Dollar Nominal. Here's the site:

http://www.imf.org/external/pubs/ft/weo/2008/01/weodata/weorept.aspx?pr.x=94&pr.y=9&sy=2006&ey=2013&scsm=1&ssd=1&sort=country&ds=.&br=1&c=968&s=NGDPPC%2CNGDPDPC%2CPPPPC&grp=0&a=

If you want to compare then check out the other Balkan Countries and Bulgaria included you will get what I mean. Romania will have a strong currency that almost equates to US and International conversions not many countries do that quite early as Romania does. :banana::cheers:

The slower the growth which results in a countries economy being mature the faster per capita will rise.

[Fallen]

Sursa: realitatea.net

Marţi începe la Haga procesul între România şi Ucraina, privind disputa pentru platoul continental şi zona economică


Marţi începe la Haga procesul care va reglementa definitiv disputa dintre România şi Ucraina privind platoul continental şi zona economică, dispută care a afectat relaţiile dintre cele două ţări. În perioada cuprinsă între 2-19 septembrie, la Curtea Internaţională de Justiţie va avea loc faza orală a procesului prin care se vor delimita o dată pentru totdeauna frontierele maritime, ca urmare a eşuării negocierilor.

Instanţă internaţională va stabili cu exactitate coordonatele geografice ale liniei de demarcaţie care separă drepturile de exploatare de resurse ale României de cele ale Ucrainei în Marea Neagră.

România şi Ucraina au pretenţii asupra unei suprafeţe de peste 12.000 de kilometri pătraţi, în subsolul căreia se află circa 100 de miliarde de metri cubi de gaze naturale şi 10 milioane de tone de petrol.

În cazul în care României îi va reveni zona disputată, ţara noastră nu ar mai avea nevoie de importuri energetice în următorii 20 de ani. Ucraina ar epuiza aceleaşi resurse în mai puţin de 2 ani.

Statutul juridic al Insulei Şerpilor, care a format mult timp obiect de contencios între România şi Ucraina, nu va fi discutat.