The annual inflation rate increased in October to 7.88%, the biggest contribution came from an increase in prices for non food products, especially tobacco, Romanian National Statistics Institute reads.
FDI: what are the economic segments and preferred geographical areas? The net flux of foreign direct investments that entered Romania was 3.48 billion euro of which 1.72 billion euro participations to capital and 1.75 billion euro the net credit received from foreign investors, official National Central Bank data reveals. Most investors triggered the manufacturing industry and the financial intermediaries sector. As a geographical area, Bucharest was preferred where 63 euro of every 100 euro that entered Romania were invested.
Dominic Bruynseels, President of BCR , one of the biggest banks in Romania, declared of Friday that revenues from commissions dropped in the third quarter due to the decrease of the commission of anticipated payments for current credits, a requirement of ordinance 50/2010. He added that uncashed revenues amount to 3 million euro.
Avic International Holding Corporation and the Romanian Commercial Services group signed, earlier this week an agreement which sees investments of 500 million euro at the paper and cellulose factory Somer Dej. 150 million euro will be invested by the Romanian company and the factory's production capacity will increase from 70,000 tons of cellulose/year to 500,000 tons.
Dacia Sandero facelift available starting 2012 or 2013 Dacia will release a facelift Sandero model in 2012 or 2013, Dacia marketing director Mihai Bordeanu declared at the launch of the new Sandero Orange model. Sandero was launched on the European market in 2008 and became the best sold model of the brand. It is very popular in France, Germany and Italy.
Ronald Binkofski the new general director for Microsoft RomaniaCalin Tatomir was replaced as Microsoft Romania general director by Ronald Binkofski who was marketing director at Microsoft Poland. Tatomir ran Microsoft Romania since 2008. I am proud of the team's success in the last two years I ran the company and I am optimistic that Microsoft will continue to have a great impact in the industry and society overall, Tatomir declared in a press release announcing his departure.
Ion Tiriac, Dinu Patriciu, Ioan Niculae, Adamescu and Voiculescu families are the richest businessmen in Romania, according to an annual top set up by the Capital financial magazine. This year, businessman Ion Tiriac was classed first with a wealth estimated at 1.5 - 1.6 billion euro.
The government will drastically cut local budgets made from VAT taxes, a 2011 budget draft reads, quoted by the Romanian news agency Mediafax. The budget draft sees a cut by half of finances for infrastructure and sports fields. In the same time, more money will be allocated for education and social care salaries. The project sees a decrease by 50% of credits for new jobs.
Finance ministry Gheorghe Ialomitianu: bonuses will be offered on performance and competence criteria Bonuses will be offered only based on performance and competence, Finance minister Gheorghe Ialomitianu declared on Friday, adding that he will not give in to other criteria. On Thursday, Ialomitianu said that he was never against bonuses but the criteria was subjective. He underlined that the ministry reached an agreement with union leaders to create a ministerial committee to analyze the way bonuses were offered.
Scala JWT and Cohn&Jansen advertising agencies announced on Thursday that they decided to merge. The new company will be called Cohn&Jansen JWT. Peter Jansen, one of the share holders of a company explained for Hotnews.ro that the two advertising companies complement their international and national portfolio of clients which ensures continuity.
Foreign direct investments totaled in the first eight months of the year 1.95 billion euro, a 35.9% drop compared to the similar period in 2009, of 3.05 billion euro, Romanian National Central Bank data reads on Wednesday. Direct investments from non residents in Romanian financed by 58% the current account deficit in January - August 2010, which increased to 34.07 billion euro.
Business Report: Taierea de 25%, fentata cu cresteri de pana la 70%; De ce se scumpeste mancarea; Cum scot profituri grase "baietii flamanzi"; Un Ferrari 599 GTO a fost inmatriculat in Romania.Romania, in top zece la productia de lapte in UE, insa doar unu din cinci litri ajunge in fabrici. Lipsa fermelor mari si a implicarii crescatorilor de animale in procesarea laptelui face ca industria locala sa genereze afaceri de circa 900 de milioane de euro anual, de trei ori sub potentialul generat de cei 4,7 miliarde de litri de lapte produsi anual, din care doar 20% ajung in industria de procesare...Criza economica ii alunga pe imigranti din Romania. Numarul strainilor care au obtinut autorizatii de munca in tara noastra in primele sase luni ale lui 2010 a fost de sase ori mai mic decat cel anticipat de executiv pentru intreg anul...Revolutia pravaliilor. Un razboi de gherila intre comertul modern si cel traditional pare inevitabil, iar miza e, pentru fiecare petic de teren in parte, de sute de milioane de euro...
The annual inflation rate increased in September to 7.7% due to the increase of prices for non-food goods and tabacco, the National Statistics Institute data reads. The price of food prices increased, on average by 3.87% since the begining of the year. In the last report published this week, the IMF estimates for Romania an annual inflation rate of 7.9% for December 2010.
Consumption prices increased in September by 0.4% and the annual inflation rate was 7.6% according to an average of opinions expressed by Romanian experts. The analysts opinions related to inflation varied between 0.2% and 0.7% and estimates regarding the annual rate are somewhere between 7.3% and 7.9%.
An IMF mission will arrive in Romania on October 20 for about 10 days to evaluate whether the conditions assumed in the stand by agreement are fulfilled, IMF representatives declared. The IMF deegation might discuss with the Romanian authorities the possibility to sign a new agreement.
Unemployment rate dropped steadily in September to 7.35% from 7.39% in August according to the national institution in charge with labor force. In the similar period last year, the unemployment rate was 6.9%.
The Senate's Budget Committee approved the decrease of the tax on revenues from 16% to 10% accoring to a press release remitted to Hotnews.ro. The Senate and Chamber of Deputies are expected to cast a vote on the measure. Iulian Urban, who initiated the project declared that in two weeks the draft will enter the Senate.
La o ferma, dimineata, sotia se trezeste, se uita pe geam si vede vaca moarta. Vazand situatia disperata, ne-mai-avand cu ce sa isi hraneasca familia, se spanzura. Cand o vede barbatul spanzurata, se impusca si moare si el. Fiul cel mare, vazandu-si parintii morti si vaca, se duce la rau sa se inece. La rau, o zana ii propune sa intretina relatii cu ea de cinci ori la rand si ii aduce familia si vaca la viata dar la al patrulea act, baiatul nu mai poate si este inecat. Fiul cel mijlociu are stacheta la 10 dar cedeaza si el la 7. Fiul cel mic primeste si el ramasagul:- Cum le-am zis si fratilor tai, iti aduc familia la viata daca o faci cu mine de 15 ori!
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