CFR Marfa Posted RON133.5M Losses In 2011

27 Jan 2012, Ziarul Financiar

Romanian state-owned railway company CFR Marfa last year posted losses of 133.5 million lei (EUR30.76 million), 67.9% higher than the level approved in its budget, RON79.5 million.

Bucharest City Hall To Pay EUR29M For Emergency Management System

27 Jan 2012, Ziarul Financiar

Bucharest City Hall will pay the consortium of TeamNet International, UTI Systems, UTI Construction&Facility Management and Top Ram Project 126.8 million lei (VAT included, EUR29.2 million) for an emergency management system.

Bucharest Stocks Continue Upward Trend, BET-C At 3-Month High

27 Jan 2012, Ziarul Financiar

The Bucharest bourse shook off a slow start and ended up almost 2% Friday, and the composite index touched a three-month peak, despite a weakening trend on the international markets after lower-than-expected data from the U.S. economy.

ArcelorMittal Iasi Hikes Share Capital To RON241M

27 Jan 2012, Ziarul Financiar

Romanian steel pipes maker ArcelorMittal Tubular Products Iasi (TPRO.RO) will increase its share capital by 78 million lei (EUR17.9 million) to RON241 million, the company said in a statement Friday.

Leu Dips Vs Euro In Quiet Market

27 Jan 2012, Ziarul Financiar

Romania’s leu traded in ranges against the euro in late session Friday and closed slightly weaker on the day, after a lackluster day.

Tarom's Net Loss Shrinks To RON252.2M In 2011

27 Jan 2012, Ziarul Financiar

Romanian state-run airline Tarom has narrowed its losses by 24.2% to 252.18 million lei (EUR58.1 million) in 2011, from RON332.5 million a year earlier.

Romanian Car Park Up 1.17% In 2011, To 5.48M Vehicles

27 Jan 2012, Ziarul Financiar

Romania's car park grew last year by 1.17% to 5.48 million vehicles, including 4.323 million passenger cars, 0.36% higher than in 2010, according to the data released by the Driving License and Vehicle Registration Department (DRPCIV).

Titan Sees Lower Sales In FY 2012

27 Jan 2012, Ziarul Financiar

Romanian milling and bakery company Titan (MPN.RO) estimates its sales will drop by roughly 5% to 331.6 million lei (EUR76.4 million) in the financial year to end in September, from RON348 million in the year-earlier period.

Two Dutch Companies To Create 250 Jobs In Cluj County, Romania

27 Jan 2012, Ziarul Financiar

A Dutch logistics company will open its first Romanian office near the Transylvania Highway, hiring more than 100 people, while another Dutch company, which makes equipment for the food industry, will open a plant with 150 employees in Apahida, Cluj county.

Growth Through Competitiveness

27 Jan 2012, Ziarul Financiar

Bosch To Invest EUR60M In Production Unit In Jucu

27 Jan 2012, Ziarul Financiar

Germany's Bosch will open a car part production facility in Jucu, northwestern Romania, an investment worth EUR60 million, local television Transilvania L!VE reported Thursday.

BCR Asigurari To Change Name To Omniasig, Raise Its Share Capital By EUR47.7M

27 Jan 2012, Ziarul Financiar

Shareholders of insurer BCR Asigurari will discuss on February 27 raising the company’s share capital by 207.1 million lei (EUR47.7 million), to RON250.3 million within its merger with insurer Omniasig, whose name and logo it will take over in April.

Leu Down Vs Euro, Exchange Rate At 4.3394

27 Jan 2012, Ziarul Financiar

Romania’s leu lost early gains versus the euro by midday Friday, while the central bank’s reference was virtually flat at 4.3394 units, from 4.3396 units a day earlier.

Erste Reshuffles BCR Management: Tomas Spurny Named CEO

27 Jan 2012, Ziarul Financiar

Romania’s top lender Banca Comerciala Romana (BCR), a unit of Austrian Erste Group Bank (EBS.RO), has appointed Tomas Spurny as its new chief executive officer, the bank said in a statement Friday.

Wienerberger Appoints New Head Of Romanian Operations

27 Jan 2012, Ziarul Financiar

Austrian Wienerberger AG, the world’s largest brick maker, has appointed Corneliu Fecioru as the new head of its Romanian business, the company said in a statement Friday.

Romania Lifts Bad Weather Alert For All Regions, Except Two Southeastern Counties

27 Jan 2012, Ziarul Financiar

Romania has lifted the bad weather alert for heavy snowfall and blizzards in all regions, except for the southeastern counties of Tulcea and Constanta, which will remain under a yellow code advisory for gusty wind, Prime Minister Emil Boc said Friday.

Leu Rises In Early Trade, On Euro Sales

27 Jan 2012, Ziarul Financiar

The Romanian leu rose against the euro at the start of Friday's interbank session, trading at 4.33 units, with dealers saying a local lender sells hard currency after it got permission to write off some provisions.

Bucharest Shares Open Slightly Down, Correlated With European Markets

27 Jan 2012, Ziarul Financiar

Bucharest-listed shares opened slightly down Friday, after posting solid gains the day before, following the downward trend of major European markets.

Romania Housing Permits Down 6.6% In 2011, To 39,424

27 Jan 2012, Ziarul Financiar

Romania issued 39,424 building permits for residential projects in 2011, down 6.6% from the previous year, the statistics institute INS said Friday.

Government Pledges To Make State-run Companies More Transparent. Will It Keep Its Word?

27 Jan 2012, Ziarul Financiar

Board members at state-run companies will be chosen by independent human resources experts, the annual and six-month financial reports will be published on corporate websites, as will the salaries of the managers and every decision to be made by the general meetings of shareholders will be put up on the website thirty days ahead of the meeting.