SPORTS

NEWS IN BRIEF

New TV channel launched: Dolce Sport


Romtelecom announced on Wednesday that it bought exclusive broadcasting rights for 112 Champions League games. The games will be broadcast on Dolce Sport, the company’s new TV channel, starting on August 26. The company points out that the new channel will be available on its Dolce and NextGen platforms. The station will also rebroadcast 34 games that TVR will broadcast live. Broadcasting rights were bought for two seasons: 2010-2011 and 2011-2012. According to the company’s release, the decision “is part of Romtelecom’s strategy to offer its clients as much exclusive and high-quality content as possible.”


Maradona dropped as Argentina coach


Diego Maradona’s stormy spell as Argentina coach came to an end on Tuesday when the Argentine Football Association (AFA) voted unanimously not to renew his contract. Maradona’s future had been in doubt since Argentina’s 4-0 thrashing by Germany in the World Cup quarter-finals in South Africa this month, less than two years since his headline-grabbing appointment. “There needed to be some changes among Diego’s staff … and we couldn’t come to an agreement,” AFA chief Julio Grondona told reporters.

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NEWS IN BRIEF

Singapore F. Min: “Ionescu case not about our government”


The spokesperson for Singapore Ministry of Foreign Affairs explained in a release to Nine O’Clock, in response to accusations of a set-up in the trial of Silviu Ionescu’s case, that his trial has nothing to do with the Singapore system or Government, but with finding the truth in a case resulting in the death of one and in the injuring of several people. The spokesperson added that the same message was sent by the Singapore special envoy Anil Kumar Nayar. “The trial is about what happened on December 15, 2009, which resulted in death and serious injuries, and the evidence found has pointed to Ionescu. His responsibility will have to be addressed through the Romanian legal process for justice to be served, and this is where the focus should be,” the spokesman said, according to a release sent to Mediafax. The statement comes, according to the Singapore Foreign Ministry, in response to accusations made in the Tuesday session of the former diplomat’s trial. The former charge d’affaires Silviu Ionescu stated, on Tuesday, at the Sector 3 Court, that the case regarding the December 2009 accident was the second attempt of the state of Singapore to denigrate him.

Mayor arrested
in Cogealac
wind farm conflict



The mayor of the Constanta County commune of Cogealac, Cati Hristu, and five other individuals involved in the Monday conflict were detained for 24 hours Tuesday night after being interviewed by prosecutors. They will be arraigned in court at the Constanta Tribunal with the proposal of being remanded in custody awaiting trial for an initial period of 29 days. Investigating sources quoted by Mediafax said that some of the charges against the six people are incitement to violence, violence and disturbance of public order.


Five locals were shot with rubber bullets by the employees of a security company in the Cogealac incident. Villagers entered into a conflict with the guards when they forced their way onto the premises where a wind farm is currently being constructed that they disapprove of.

Weapon dealer extradited
from France



The Court of Appeal of Paris has ordered the surrendering to Romania Herscovici Simen, alias Shimon Naor, the Ministry of Justice informs by press release sent to Agerpres. The source mentions the Prosecutor’s Office of the Court of Appeal in Paris on July 27 informed the Romanian Ministry of Justice that the Paris Court of Appeal had passed a final ruling ordering that Shimon Naor would be surrendered to Romania. ‘The actual surrendering is to be done through the International Police Cooperation Centre – the INTERPOL International Office within the Ministry of Administration and Interior that was duly informed on the same day; the executing court was also informed under the law,’ the Ministry of Justice notes in its release. Herscovici Simen, alias Shimon Naor, was placed under an international warrant for the service of the 10 years, six months and 20 days left of his imprisonment sentence passed by the Bucharest Tribunal who convicted him for weapon smuggling. On May 8 this year, Interpol Paris announced Romanian authorities that Shimon Naor, convicted for weapon smuggling, had been arrested, having been searched for since 2006.

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BUSINESS

NEWS IN BRIEF

Banks expect
to lending rules further
in Q3-ECB



Banks expect to continue to tighten their credit rules on loans to firms in the third quarter, the European Central Bank said on Wednesday. In its latest quarterly Bank Lending Survey, the ECB said the sovereign debt crisis made it more difficult to get funds in the markets. “In the second quarter of 2010, negative spillover effects from the sovereign debt crisis appear to have worsened banks’ ability to obtain funding,” the survey said. Over the next three months, banks expect that the difficulties in wholesale funding will remain, but to lesser degree than in April-June, it added.


Moody’s: Bank ratings won’t be affected by stress tests


Credit rankings of European banks will not be affected by the results of stress tests conducted by banking authorities in the European Union (EU), as they are not a surprise and confirm studies recently conducted by Moody’s, Mediafax reports. Thus, recent studies conducted by Moody’s indicated that most European banks could face up to an economic shock without needing to raise additional capital. Moreover, results are in keeping with ratings granted by the rating agency as regards the banks’ financial stability.


The financial evaluation agency will continue to keep a close watch on the measures which are to be taken by the seven banks which flunked the stress tests and which are now in need of additional capital. Moody’s points out that the reaction of the market to stress tests results will be an important factor influencing the operational environment of European banks.


EBRD teams up with BRD for crediting SMEs


The European Bank for Reconstruction and Development (EBRD) is boosting the availability of financing to real economy in Romania, with a EUR 50 M credit line to BRD-Groupe Societe Generale for on-lending to private small and medium-sized enterprises (SMEs) and corporates, a press release informs. The credit line is part of a broader financial arrangement provided by the EBRD to Societe Generale’s subsidiaries in Eastern Europe. The EBRD’s facility will increase the provision of available funding to be channeled to Romanian enterprises. “The project will help to ensure a continued flow of credit to private companies operating in Romania at a time when businesses are still facing difficulties in obtaining funding for their development,” said Jean-Marc Peterschmitt, EBRD Director for Financial Institutions, EU and Ukraine. “(…) The new credit line will be dedicated to both the SME sector and the larger private companies and will have a positive impact in re-launching the economic growth in Romania,” said Guy Poupet, Chairman and CEO of BRD – Groupe Societe Generale.


Banca Transilvania profit up at RON 33.21 M


Banca Transilvania in H1 reported net profit of RON 33.21 M, three times higher on a year over year basis, Mediafax informs. In addition, compared to the end of 2009, the bank’s assets went up by 3 per cent, currently standing at RON 20 bln. In the period from January until July of 2009, the lender obtained net profit of RON 11.06 M, down by 90 per cent compared to the previous financial period, having made loan-loss provisions worth RON 22 M. The bank’s assets at the end of 2009 were at RON 19.47 bln.


Proprietatea Fund to be listed at BVB as of January


The Proprietatea Fund (FP) will be listed, most likely, as of January, at the Bucharest Stock Exchange (BVB), as well as at a foreign stock exchange, possibly in London, Greg Konieczny, Franklin Templeton for Romania fund manager, stated, on Wednesday. He added that the Fund had to be listed first at BVB, but that Franklin Templeton intended to list FP at a foreign stock exchange as well, most likely, on the London market, as of next year. In June, Franklin Templeton advised the FP board to call the General Shareholders Assembly to an emergency meeting to validate the British company’s status as administrator.


Romania to run out of petrol in few years


Romania’s oil reserves will be depleted in the next 14 years, assuming production at current rates, daily ‘Adevarul’ headlines. The world’s oil supply will last for another 45 years, according to a British Petroleum (BP) report on the global energy resources market. The fast petroleum production of recent decades triggered by technical developments has required more and more hydrocarbon resources. Specialists are now speaking of an end of oil the way we know it – as a relatively cheap and widely affordable resource. Mankind is not doing any better when it comes to natural gas reserves that are also set to be depleted in the next 62 years. Romanian authorities are nevertheless optimistic, as they expect further oil discoveries this year.


Boat for the price of a Dacia


The ‘Cetatea’ paddle steamer, in service from 1903 to 1991, was sold at auction by the Lower Danube Administration (AFDJ) Galati for EUR 7,903 – the price of a Sandero car with extra features included – earlier in the week, ‘Romania Libera’ daily reports. The ship was purchased by a food, beverages and tobacco retailer – Nicost Galati. Built at Turnu Severin in 1903, ‘Cetatea’ was the hydrographical vessel used by the European Danube Commission to mark the river’s fairway with buoys. The paddle wheel developing thrust for propulsion was operated by a 130 HP double expansion steam engine. In January this year, the head of AFDJ Galati, Florin Uzumtoma, said Transport Ministry Secretary of State Anton Marin had sanctioned the sale of a total of 17 ships including the ‘Cetatea’. In Many countries paddle steamers are still used for cruises or as floating museums.

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