BNR sterilises RON 500 M from inter-banking market


The National Bank of Romania (BNR) organised, yesterday, a depo bid in which it sterilised RON 500 M from the inter-banking market, for a week, at a 6.25 per cent interest, equal to the monetary policy interest rate, Mediafax informs. The operation was attended by 15 banks, and the deposits drawn by the central bank mature on June 28. The interests announced on Monday by merchant banks for the amounts deposited for one day dropped at 1.93-2.43 per cent compared to Friday yields, which varied between 2.14 and 2.64 per cent. The continuing downward trend is influenced by the excess of liquidity, given that banks secured their compulsory minimal reserves required by BNR. The term for constituting compulsory minimal reserves closes on Wednesday, June 23. Following the operation conducted by the central bank, interests on one day deposits are slightly on the rise, around 4 per cent.


Finance Ministry sold one year certificates
at RON 330.83 M


The Ministry of Public Finances (MFP) sold, on Monday, treasury certificates with the maturity term of one year at RON 330.08 M, considerably below the estimated value, of RON 1.2 bln, at an average yield of 6.85 per cent a year, after having rejected all bids made by banks at the latest transaction for such bonds, according to Mediafax. The highest yield accepted by MFP was of 6.98 per cent a year, and the total amount of demand for bonds from merchant banks was of RON 1.555 bln. The latest bid for one-year-certificates occurred on June 7, when the ministry rejected all offers made by merchant banks, after having taken a similar decision in the preceding operation, considering that the yield requested by credit institutions was too high. The Monday bid was the last operation scheduled by MFP for this month. The total amount that the Ministry of Finance borrowed since the beginning of the year by selling state bonds is of RON 20.766 bln.


South-Koreans interested to invest
EUR 1.37 bln in waste
collection/processing centres


Several South-Korean companies will hold talks with the Romanian authorities today, seeking investment contracts involving waste collection and processing centres worth 2,000 bln yeans (EUR 1.37 bln), according to South-Korean TV channel Arirang, Mediafax informs. The government in South Korea has invited representatives of the Environment Ministries over for direct negotiations with several South-Korean operators in the sector of energy and adjacent industries, pursuing construction contracts, according to the Arirang website. Representatives of approximately 38 Korean companies will attend the talks discussing 26 future waste collection and processing centres Romania intends to develop, the construction of which being set to start next year, the Korean TV channel says.


Hoyo starts tractor production at Brasov


Chinese company Hoyo has started its tractor production at the plant in Rasnov, with the first series of vehicles to be finalised in mid-July when the assembling unit of the plant should also be complete, company CEO Denisa Vasilescu told Mediafax. Tractor production at Rasnov has been postponed a number of times, since December 2009, because of construction delays concerning the assembling unit. Company representatives said the plant at Rasnov that opened in September 2009 would produce over 20,000 tractors every year. Hoyo Agricultural Machinery Equipment will produce eight different types of tractors ranging from 25HP to 120HP and prices from EUR 6,500.


Quehenberger enters Romania
by Logwin Road+Rail acquisition


Austrian transport and logistics company Quehenberger has taken over operations of Logwin Road+Rail in a transaction including the acquisition of operations based in Austria and the East of Europe, Mediafax informs. The company announces no major structural changes, but signals the commencement of a process of integration. “A number of working processes and software tools will be improved in order to achieve uniformity at our group’s level. We belong to an international company and we need to think globally,” Quehenberger Logistic Romania General Manager Octavian Rosu said. In Romania, the Austrian company operates three logistic centres in Bucharest, Timisoara, Arad and Pitesti.


Carrefour Romania opens 3rd supermarket in Bucharest today


The Carrefour group is opening its third supermarket in Bucharest today – Carrefour Market Razoare, situated in Soseaua Panduri, in a neighbourhood of approximately 2,500 households and 7,500 inhabitants, the retail announces by press release. The store stands on 704 sq m, has 58 employees and will sell a rough total of 6,900 items 1,500 of which being Carrefour private label. Carrefour currently operates 22 hypermarkets and 26 supermarkets in Romania. The retailer’s sales in Romania in Q1 grew by YoY rate of 7.3 per cent to EUR 269 M from EUR 250 M, sustained by the expansion of retail area and exchange rate. Carrefour’s sales in Romania have grown by 3.6 per cent when the exchange rate remained constant.