Analysts: BNR will
maintain monetary
policy rate


According to opinions voiced in an internal poll by members of the Romanian Finance-Banking Analysts’ Association (AAFBR), the National Bank of Romania (BNR)’s Board of Administration may decide, in today’s meeting, to maintain the monetary policy rate at 6.25 per cent. In his turn, Ionut Dumitru, chief economist of Raiffeisen Bank, explained, for HotNews.ro, that the Government’s recent decision to raise the VAT at 24 per cent would create inflationary pressure.


Uniqa sells Astra stock to Nova Group


Austrian insurance group Uniqa is to sell its 27 per cent stock package in Astra Insurance Reinsurance Company to Nova Group, held by Romanian businessman Dan Adamescu. The ownership transfer, which needs the nod from Romanian authorities, will be made via the Bucharest Stock Exchange in the upcoming months, according to yesterday’s Uniqa press release. Nova Group holds 72.68 per cent of the Astra stock.


Year-on-year industrial producer prices up 6.2 pc


Overall industrial producer prices, domestic and foreign market, were up 0.4 per cent in June, against May, and up 6.2 per cent compared to June of last year, according to a release by the National institute of Statistics (INS). According yesterday’s data published by the Statistical Office of the European Communities (Eurostat, )Romania posted a 5.3 per cent rise in industrial producer prices compared to the year-earlier period, above the 3.5 per cent average of EU states. Compared to May, Romania recorded one of the slowest growths EU-wide.


Top billionaires among state’s debtors


oad builders, manufacturers of locomotive, freight wagons and passenger carriages, petrochemical and food industry companies are among the private companies that owe the largest sums to the state budget. ‘Gandul’ daily compiled the table of private companies that owe the largest sums to the state budget, on the basis of the data offered by the National Fiscal Administration Authority (ANAF). Tehnologica Radion, a construction company owned by ‘road builder’ Theodor Berna has total debts of RON 192.13 M (over EUR 45 M). Locomotive manufacturer Electroputere Craiova comes in second, followed by Invest Romit, a company that has an Italian majority shareholder, and Petrochemical Trading, the owner of Rafo Onesti. European Food, a company owned by businessmen Ioan and Viorel Micula is 5th.


Egeria-Wagram
consortium takes over Den Braven


Egeria-Wagram consortium took over Dutch foam-maker Den Braven and intends to invest, in the following months, in expanding Romanian production capacities Mediafax informs. The company argues that this will lead to the doubling of the local branch’s turnover in the next three years.

Oracle Romania signs for 14,000 sq m of office space


The local subsidiary of Oracle Corporation, one of the most important software providers worldwide and one of the biggest tenants present on the Romanian market, Oracle Romania, completed another important step in extending their operations in the country, according to a press release.


The Advisers/ Knight Frank was appointed by Oracle to exclusively represent them in this important assignment. The company representatives have signed a 5 year agreement for around 14,000 sq m office space in Oracle Tower and Nusco Tower. “Oracle was the first tenant of Oracle Tower and also the first company oriented towards Floreasca-Barbu Vacarescu, the most wanted business area of the moment. The second transaction made by them was represented by the leasing of 7,314 sq m in 169th A Calea Floreasca, where they are also the major tenant. Moreover, by expanding their activity in Nusco Tower, one of the most significant A class office building delivered this year, they empowered their position in the area” declared Horatiu Florescu, President & CEO of The Advisers.