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May 13, 2021
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NEWS IN BRIEF

Constanta: Army aircraft makes emergency landing

An American Hercules C130 aircraft, with 32 soldiers on board, made an emergency landing at Mihail Kogalniceanu airport in Constanta yesterday morning, after the smoke sensor in the cockpit went on automatically. According to sources within the Ministry of Transportations, the aircraft took off approximately one hour later, after all the problems were solved.

Quake with magnitude of 4.2 on Richter scale in Vrancea

A quake with the magnitude of 4.2 on Richter scale occurred yesterday morning, by 4.15 h. in Vrancea area, around 55 km away from Buzau, Agerpres in­forms. The earthquake occurred at a depth of 122 km and, according to the National Research and Deve­lopment Institute for the Physics of Earth, it had the intensity of II on Mercalli scale in the epicentral area.

Survey: Romanian MEPs in the top absentees

The Romanian MEPs are in the top. The Romanians nearly have the most numerous absences at the meetings of the European Parliament. The only ones to outdistance the Romanians are the Italians, reads a survey quoted by Realitatea TV. According to the data furnished by London School of Economics and the Free University from Brussels, the Austrian representatives participated to the most numerous meetings of Parliament, with a presence of 92.71 per cent. At the opposite pole, Italy registered a presence of only 71.93 per cent and Romania of 78.46 per cent. However, the bad pupils are present at least half of the period, in the context in which the MEPs do not receive a share of the allowances if they do not participate to vote. The survey also shows that only six MEPs have attended all the sessions during their term of office.

Mothers who give birth to twins or triplets to receive state allowance for each child

The Senate plenum on Monday passed a legislative proposal whereby an extra allowance of RON 600 is given for each child born from multiple pregnancies, twin or triplet, starting with the second child, aside from the allowance established by law. The proposal was made by some deputies from among national minorities other than Magyar, and also by lawmakers with the National Liberal Party and the Democratic Liberal Party (PDL), according to Reali­tatea TV. The law’s proponent also specified that the ‘persons under payment at the date the law comes into force’ also benefit from the childrearing allocation.

Electoral document attributed to PDL rouses the spirits

A document of the Political Rating Agency regarding the electoral campaign strategies was released yesterday by the media under the signature of PDL. The document was one step away from rousing the spirits in the coalition, because it arose that PDL proposed as electoral strategy to “corner” PSD and to “minimize PNL.” Mircea Toader and Roberta Anastase from PDL had reacted promptly saying that the document does not belong to PDL. PSD reacted with reserves to the document, saying through the voice of its leader Mircea Geoana that if its authenticity is proved, PDL shows lack of loyalty. Subsequently, the consultant Cristian Andrei declared for ImpactNews that the allegedly internal document is actually an independent analysis of the Political Rating Agency, intended for close persons and having chiefly “a promotional character.” He said that PNL Senator Marius Nicoara took first possession of the document which was forged, but the text being entirely maintained.

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CSA withdraws authorisations from Clal and Eureko

Clal Romania and Eureko Asigurari insurance companies will no longer sell third party liability motor insurance policies (RCA) after the Council of the Insurance Overseeing Commission (CSA) has withdrawn their authorisations, on their own request. ‘The Council of the Insurance Overseeing Commission has decided to withdraw the authorisations to sell third party liability motor insurance policies (RCA) from Clal Romania Asigurari Reasigurari and Eureko Asigurari, on their request’, reads a CSA press release. Together, the two companies held a share of about 0.4 per cent of the RCA insurance market according to technical reporting to CSA by the end of 2008.

The setting up of the commission on investigation of natural gas rejected by deputies

The plenum of the Chamber of Deputies rejected with 173 votes for, 51 against and 9 abstentions the request of the Commission on the investigation of abuses, corruption and on petitions to set up a commission on the verification of some possible abuses perpetrated in the natural gas sector, according to Agerpres. Deputy Aura Vasile argued on Monday, in the plenum of the Chamber of Deputies that the setting up of this investigative authority desired by PDL Deputy Adrian Gurzau is useless, because such a commission with the same object of activity already exists.

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Volksbank eliminates minimum compulsory reserve commission

Volksbank Romania will entirely eliminate the cost related to the minimum compulsory reserve commission, according to a press release. Starting next May 15, on the date of maturity of each of the running credits, which have in their cost structure and for which the minimum compulsory reserve commission was levied, Volksbank Romania will proceed to its elimination. “The positive signals registered in the market and the evolution of the refunding cost allowed our bank to renounce the minimum compulsory reserve commission. Thus, Volksbank Romania is one of the first banks which transfer such benefits due to the reduction of the cost to clients,” declared Gerald Schreiner, president Volksbank Romania.

BCR launches term deposit with fixed interest rate of 14 pc

Banca Comerciala Romana (BCR) launched on May 11 the 12-month term deposit with 14 per cent fixed interest rate per year, BCR Spokesman Corneliu Cojocaru informed by press release on Tuesday. The offer is for new deposits and will be valid until June 30, 2009. Apart from this latest fixed deposit, BCR pays a promotional interest rate of 13.75 per cent per year for two-month deposits in RON made by individual persons. For new six-month EUR deposits opened by individual customers until June 30, 2009, the bank pays six per cent interest rate per year.

EUR 80 M EBRD support for utilities sector, including in Romania

The European Bank for Reconstruction and Development (EBRD) will contribute up to EUR 80 M to the setting up of an investment vehicle designed to support the commitment of private companies to water supply infrastructure projects in Eastern and Central Europe, including Romania. The project was approved by the bank management last week and provides for EBRD’s taking over a minority shareholding in a new company called Aqualia Investment Venture, reads a press release signed by the European bank.

GDF SUEZ Energy Romania cuts investment by 25 per cent

GDF SUEZ Energy Romania, the former Distrigaz Sud, is contemplating possible cash-saving measures and announced it is undergoing negotiations with unions over the number of employees and that it will cut its investment by 25 p.c. in 2009, CEO David Yvonnick announced, quoted by the Money Channel. “We must be as performant as possible. We also analyze what other European operators are doing. We are currently negotiating with the unions. It is true that the demand by all economic actors is to make gas distribution as performant as possible and this makes us think at possible measures in order to save money. This reflection is permanent,” David Yvonnick explained.

Electronic system of medical prescription worth RON 88 M

The real-time monitoring of the medical drugs’ needs and consumption in Romania, the elimination of medication errors and frauds in the current prescription system, or the processing and exchange of medical information are just a few of the benefits to be brought by the project for implementing the national system of electronic prescription, worth RON 88 M., financed with European funds, yesterday announced the Ministry of Communications (MCSI), quoted by HotNews. This first financing contract in the e-health sector, passed by the Ministry, benefit from grants worth RON 71 M.

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CCIR: 35 pc companies to shut down because of minimum tax

Approximately 35 per cent of existing companies will shut down because of the introduction of the minimum tax, the Vice-President of the Chamber of Commerce and Industry of Romania, Sorin Dimitriu, stated at a conference on the lump sum tax subject, yesterday, according to Agerpres. ‘Out of a total of over 600,000 SMEs, only 12,000 actually contribute to the state budget and their contribution represents 85 per cent of the state budget collections. Following the new minimum tax, approximately 35 per cent of existing companies will disappear. More than 200,000 companies have no revenues, pay no contributions to the state, but do operate’, said Sorin Dimitriu. On the other hand, the social security budget has a deficit and we feed it from the state budget’, Iordache said. The Government will evaluate the impact of the minimum tax on companies and make a decision as to keeping or abrogating it according to the economic trend, PM Emil Boc said yesterday. He also pointed out the new tax was meant to work against tax evasion and not intended to be a para-fiscal measure, Mediafax informs.

Banks: Improving collections performance worth 1–2 billion RON

With mounting losses and provisioning costs negatively impacting earnings and threatening capitalization levels, it is unsurprising that banks must focus their attention on debt restructuring and collections, a press release informs. Banks should invest into capabilities to improve their collections performance as the prize could be quite high – 1-2 billion RON across the industry in retail collections alone according to Robert Maciejko, Managing Director of and Head of Central and Eastern Europe with Oliver Wyman. Bad assets are growing quickly in Romania. Market expectations for non-performing loans (NPLs) by end of 2009 range from 10 to 20%. With mounting losses and provisioning costs negatively impacting earnings and threatening capitalization levels, it is unsurprising that banks must focus their attention on debt restructuring and collections. During stress periods, however, all institutions struggle to manage their delinquency rates and improve their collection processes according to Oliver Wyman. The report, “Collections operations – From insight to results”, has found that even well-managed banks with cautious credit underwriting policies suffer from spectacular delinquency rate growth and must adapt their course of action.

Hotel Radisson SAS in Bucharest –“Best Hotel Project of the Year 2008”

The Hotel Radisson SAS in Bucharest was selected as the “Best Hotel Project of the Year 2008” in Southeastern Europe and nominated for the Business Superbrands Program, a press release sent to Nine O’Clock announces. The Hotel won the category “Best Hotel Project of the Year 2008” at the Southeastern European Real Estate Awards, a gala recently organized by the real estate information and analyses site EuropaProperty. By this award, Radisson SAS joined other twelve companies that reached outstanding results and other successful real estate projects in Southeastern Europe, winners of the SEE Real Estate Awards. The same hotel was appreciated for its manner of promoting itself as an important brand on the Romanian market. This fact brought its inclusion in the “Brands to Watch” of the Romania Business Superbrands Program.

Software piracy in Romania has decreased 2 p.c. during 2008

PC software piracy rate decreased by two percent points in 2008 compared to the previous year, from 68 p.c. to 66 p.c., while industry losses rose by 65 p.c., up to USD 249 mln, writes a report posted by the Business Software Alliance (BSA) on its official web site. “This report shows the impact that efforts for curbing software piracy have in Romania. In the present conditions of economic uncertainty, it is a vital behavior for companies not to elude the law by using unlicensed software, as such a behavior would increase the risk of negative impact upon businesses and consumers, as well as upon the local and global economy,” said lawyer Magda Popescu, the representative of BSA in Romania.

Deputies approve Brasov-Ghimbav International Airport project

The Deputies adopted yesterday the bill for the approval of OUG no. 41/2007 regarding the shifting of a land from the public domain of the state and the administration of the National Research-Development Institute for potato and beet from Brasov into the public domain of Brasov County and under the administration of Brasov County Council, for the construction of Brasov-Ghimbav International Airport, Agerpres informs. 200 Deputies were favourable to the legislative project, while five voted for its rejection.The report also stresses that if the airport is not built within five years, the surface of land will go lawfully into the public domain of the state and under the administration of the National Research and Development Institute for potato and sugar beet Brasov.

WMW Bacau and EADS, partners in aeronautics

The Bacau-based World Machinery Works (WMW) will manufacture Ariane 5 rocket component equipment for the European Aeronautic, Defence and Space (EADS), Europe’s largest aerospace and defence company, Mediafax reports. The Deputy Chairman of the Board of Directors at WMW Bacau, Gabriel Carciumaru, said that the company was chosen to participate in the most important European aerospace project. The contract runs through July 2010, but can be extended beyond that date.

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