Archive for the ‘Business’ category

Natural gas deposit equivalent to 3-6 times the domestic consumption, found in the Black Sea
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Natural gas deposit equivalent to 3-6 times the domestic consumption, found in the Black Sea

Petrom posts record profit in times of crisis – EUR 887 M in 2011. OMV Petrom, and ExxonMobil Exploration and Production Romania yesterday announced a significant discovery under the Black Sea, with preliminary estimations speaking about a natural gas deposit of 42-84 billion cubic meters, equivalent to 3-6 times the annual consumption of Romania. The [...]

Published by anca.bernovici on February 22nd, 2012 at 9:00 PM
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EximBank offers Astra Vagoane Calatori a letter of guarantee of over EUR 31 M

EximBank has offered passenger train carriage manufacturer Astra Vagoane Calatori a letter of guarantee whose value surpasses EUR 31 M, allowing the company to take part in an international tender and to win a contract of over EUR 100 M, a bank communiqué issued yesterday informs. Based on that contract, Astra Vagoane Calatori will deliver approximately [...]

Published by nineoclock on February 22nd, 2012 at 9:00 PM
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CFR Calatori scratches 150 names from the list of layoffs

The list of employees to be made redundant by CFR Calatori, which initially featured 1,143 names, will be reduced by approximately 150-180 people, representing difficult social cases, the leader of the ‘Miscare Comercial’ Trade Unions Federation, Gheorghe Fratica announced Wednesday, after negotiations with the Minister of Transport and Infrastructure, Alexandru Nazare, realitatea.net informs. “These are [...]

Published by nineoclock on February 22nd, 2012 at 9:00 PM
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Insurance market not following economy trend

The total volume of gross written premiums in 2011 dropped to RON 6.5 bn from RON 6.9 bn in 2010, the National Union of Insurance and Re-insurance Companies in Romania (UNSAR) states in a release. The 22 UNSAR members have a combined weight of 82 per cent of all premiums written on the entire insurance [...]

Published by nineoclock on February 22nd, 2012 at 9:00 PM
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PM Ungureanu assures IMF, EC he will abide by previous Cabinet’s commitments

PM Mihai Razvan Ungureanu told yesterday the International Monetary Fund (IMF) and European Commission (EC) officials he had invited them in Bucharest to give them personal assurances that the new Cabinet would abide by the commitments the previous Cabinet had made before the two lending institutions, Mediafax reports.During a meeting taking place at Victoria Palace, [...]

Published by karina.lerintiu on February 22nd, 2012 at 9:00 PM
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Orange Romania posts incomes worth EUR 937 M for 2011

Orange Romania posted incomes worth EUR 937 M for 2011, including EUR 239 M in the last quarter of the year, which correspond entirely to the expectations of the company, reads a press release issued by the company, which quotes the financial report for Q4 2011 of the group France Telecom. Although incomes dropped by [...]

Published by nineoclock on February 22nd, 2012 at 9:00 PM
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Prince Albert of Monaco, potential investor in Poiana Brasov

Albert of Monaco could be one of the persons investing in the Silver Mountain luxury tourist resort, alongside Ion Tiriac and Ilie Nastase, ‘Bursa’ daily informs quoting construction market sources. According to those sources, the three allegedly own important shares within INR Management Real Estate, the company that is developing the tourism centre in Poiana [...]

Published by nineoclock on February 22nd, 2012 at 9:00 PM
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New Honda Civic 5 door, one of Europe‘s safest cars

The new Honda Civic 5 door has been rated one of Europe‘s safest cars, according to new independent crash testing results from Euro NCAP, a press release informs. Euro NCAP organizes crash-tests and provides motoring consumers with a realistic and independent assessment of the safety performance of some of the most popular cars sold in [...]

Published by nineoclock on February 22nd, 2012 at 9:00 PM
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Fisheries Management Authority board, forced to resign

Reducing VAT for food products, not featured on Government’s 2012 agenda. Agriculture Minister Stelian Fuia removed yesterday from office the board of the National Management Authority for the Fisheries Operational Programme for failing to absorb a single cent of the total EUR 320 M-worth of EU funds at its disposal. He stated, during a press [...]

Published by monica.apostol on February 22nd, 2012 at 9:00 PM
EC officially cuts POSDRU payments
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EC officially cuts POSDRU payments

USL MPs to file simple motion against Minister Leonard Orban next week within the Lower Chamber, on account of the European funds issue. The European Affairs Ministry received on Monday evening an official letter from the European Commission, informing it of the interruption of payments for the payment requests filed as part of the Sectoral [...]

Published by monica.apostol on February 21st, 2012 at 9:00 PM
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