Stock exchange investors expect poor half-year results
Investors on the Bucharest Stock Exchange (BVB) are expecting poor financial results for the first half of 2009, as listed companies will start this week sending their reports to the Exchange, Agerpres reports. Against the background of this pessimism, the Bucharest Exchange moderately rose last week, compared to the strong upward trend on the main foreign markets, the correlation of local trading indices with those abroad being atypical. According to brokers, speculators were absent from the domestic stock exchange last week, although they brought the bulk of liquidity in the previous months. An explanation for this state of facts might be the impression starting to surface abroad that things are getting stable.
EC authorizes SMEs restructuring
The European Commission authorized the state aid scheme for the restructuring of the SMEs in difficulty from the portfolio of the Authority for State Assets Resolution (AVAS) and that of the Ministry of Economy, reads a press release of the Competition Council, according to HotNews. The total estimated budget of the state aid scheme is EUR 180 M, of which EUR 30 M are allotted to the rescue scheme. Of the total budget of the state aid scheme, EUR 90 M are scheduled for this year. If the value of the aid exceeds EUR 10 M per beneficiary, the rescue aid included, it is considered individual aid and the European Commission must be notified in view of authorization, according to the competition authority.
Tough takeover negotiations for Avioane Craiova
Italian company Alenia Aeronautica offers EUR 1 M for the shares held by the state in Avioane Craiova (AVIO) aircraft manufacturer and assumes a technological investment worth a maximum EUR 18 M, Ziua daily reports. The Italians refuse to cover the plant’s debts of about EUR 9 M and want to receive guarantees for the possible damages they would have to pay. The Italians’ financial offer also includes three environment investments worth EUR 120,000 and a working capital of EUR 3 M, according to sources from the State Assets Resolution Authority (AVAS) involved in the negotiations. Another condition raised by the Italians during talks was the personnel policy, as Alenia warned it won’t need some of the present employees of Avioane Craiova in the first three years of activity. Last year, the Czech firm Aero Vodochody had offered EUR 4.2 M for the Craiova-based plant, but they did not accept the conditions set by AVAS.
Related posts
NEWS IN BRIEF
159
Share0 Ceremonies mark Air Force Day
A ceremony was organized yesterday in Bucharest at the Aviators’ Statue in order to mark the Air Force Day. The ceremony started with a religious service, being followed by an aerial parade. The ceremony was also attended by the 80-year-old nephew of Aurel Vlaicu. He was decorated on this occasion. Wreaths were laid by the Presidency, the Ministry of Defense, the Ministry of Transportation and veteran associations. In a message, President Traian Basescu stated that the Romanian Air Force is prepared to face the challenges characteristic of a NATO and EU member state, but that Romania should perform a reconfiguration of its air power. ‘Although the progress is incontestable and obvious, I want to underline the need for the Air Force to continue this process with devotion and professionalism and to intensify its transformation and modernization efforts’ Basescu said in the message. He pointed out that he would like to thank the personnel that is conducting missions in foreign theaters of operations ‘where the Romanian Army is present and where it does its duty in abundance.’
A new complaint for mayor Mazare
The mayor of Constanta, Radu Mazare, declared yesterday that the complaint filed by a non-governmental organization against him because he was dressed in a uniform of German officer at a fashion show, is not a problem for him, Agerpres reports. He said that he found inspiration in the film “Operation Walkiria” when he chose that gear for the fashion show which took place on Saturday at the Casino from Constanta. “Considering the number of complaints that I have, does one more problem matter? No problem at all, especially that we could say that I drew inspiration from the film “Operation Walkiria in which a German officer wanted to deliver the country from a crazy dictator,” Mazare said. According to the central media, the Semitism Monitoring and Fighting Center conveyed yesterday a notice to the prosecutor general of Romania after Radu Mazare and his son had paraded on Sunday night, one of them dressed as a Wehrmacht officer and the other as a batman. “No matter whether it falls under the law or not, this gesture is full of negative significations. His posture is serious, especially that he involved also his son,” Alexandru Florian, executive president of “Elie Wiesel” National Institute for the Study of Holocaust in Romania, explained.
Three kg of explosives and 1,000 detonators stolen
Approximately three kilograms of explosive materials and about 1,000 detonators were stolen from the storehouse of the Mine Pleostina in Gorj County. Their disappearance was noticed today.
The explosives were used for the coal layers. The fact that the respective materials were missing was discovered when the miners restarted working, after the activity of the mine was stopped for over a month. Inspector Daniel Tica, the spokesperson of the Gorj County Police Department, declared that the police officers were working on establishing a list of suspects among the persons who were provided access to the respective storehouse.