Articolele autorului Andrei Cîrchelan
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Romania Posts 2% GDP Growth In 2011, Budget Deficit Below 4.4% Of GDP - PM
Romania posted an economic growth close to 2% in 2011 and it has kept the budget deficit below the target of 4.4% of the gross domestic product, Prime Minister Emil Boc said Wednesday. citeşte tot
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Raiffeisen Sees Romanian Inflation Below 2.5% In First Half Of 2012
Romania’s inflation might temporarily decline below 2.5% in the first half of next year, mainly due to a favorable statistical base effect, but the central bank might reduce the key rate b 0.5 percentage points in the same timeframe, according to an analysis by lender Raiffeisen. citeşte tot
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Romania’s Electricity Consumption Seen Up 5% In 2012
Romania’s final consumption of electricity is expected to increase by 5% in 2012, to 48.95 million MWh, according to data from energy regulator ANRE. citeşte tot
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Romanian Authorities Take Electrica Off Private Management List
Romanian authorities and the International Monetary Fund agreed to remove electricity distributor Electrica SA from the list of companies to receive private management. citeşte tot
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Court Decision Voids Franklin Templeton Role As Proprietatea Fund Manager
The Bucharest court decided to cancel a shareholder decision from September 2010, which amended the statute of investment fund Fondul Proprietatea (FP.RO) and enabled the appointment of Frnaklin Templeton as fund manager. citeşte tot
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IMF Sees Romania's Structural Deficit At 0.1% Of GDP In 2012
Romania's structural deficit will drop from 2.8% of the gross domestic product this year, to 0.1% of the GDP in 2012, thus respecting the 0.5% limit established in the latest European summit, according to Jeffrey Franks, the head of the International Monetary Fund's delegation to Romania. citeşte tot
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Hidroelectrica Finishes EUR75M Power Plant
Romanian state-owned hydropower producer Hidroelectrica on Tuesday announced the completion of a hydropower plant in southern Romania, following an investment of EUR75 million. citeşte tot
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Bucharest Apartment Prices Down 3%-5% In 2011 - Survey
Apartment prices in Bucharest dropped by 3% to 5% on the year in 2011, compared to a decline of 16% in 2010, according to a report by realty portal imopedia.ro. citeşte tot
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Romanian Competition Council Probes Meal Voucher Market For Collusion Among Top Players
Romanian competition authorities performed inspections at three meal voucher issuers--Edenred, Sodexo Pass and Cheque Dejeuner--following suspicions of agreement between the three. citeşte tot
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Romania Bans Local Gas Exports Pending Import Diversification
Romanian companies will not be able to export natural gas until import sources are diversified using the current infrastructure, according to a draft amendment to the gas law, approved Thursday in the lower chamber. citeşte tot
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Romanian Avioane Craiova Inks $1.7M Deal With Israeli Elbit Systems
Romanian state-owned plane maker Avioane Craiova (AVIO.RO) concluded a $1.7 million contract with Israeli Elbit System for the delivery of telecom systems for aircraft. citeşte tot
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Romanian CEC Bank Blasts Government Decision Blocking Share Capital
The fact that state-owned Romanian lender CEC Bank is no longer allowed to increase its share capital from the profits of previous years is an error, Monday said the bank's president Radu Ghetea. citeşte tot
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Erste CEO: Romania's "Brutal" Austerity Measures Show Good Coping Mechanisms
The austerity measures taken in Romania were "brutal", unthinkable in a Western country such as Germany or France, but people in the East "have learned to live with brutality", according to Andreas Treichl, chief executive officer of Austrian group Erste Bank (EBS.RO). citeşte tot
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IMF Urges Romania To Privatize Main Thermal Power Producer
The International Monetary Fund has asked Romania’s Government to transfer thermal power producer Electrocentrale Bucuresti (ELCEN) to the Economy Ministry and begin privatization procedures in an operation that should conclude by the end of next year. citeşte tot
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Romania Adds Another Year To Transit Deal For Russian Gas
The transit deal for Russian natural gas on Romanian soil has been extended by another year, until the end of 2012, Thursday said Elisabeta Ghidiu, strategy and corporate management head within state-owned gas transporter Transgaz (TGN.RO). citeşte tot
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Romanian Government To Ink Brokerage Deal For Tarom IPO
The Romanian Government reversed its decision to cancel the auction selecting a broker for the sale of a 20% stake in airline Tarom, after the rejected sole bidder updated its offer and halved the requested commission. citeşte tot
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Romanian BRD To Replace CEO - Sources
The chief executive officer of Romanian lender BRD-Groupe Societe Generale (BRD.RO), Guy Poupet, will be replaced with Alexandre Maymat, regional director of the Cameroon branch of Societe Generale, people close to the matter told MEDIAFAX. citeşte tot
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Pricing Gaps Mean Romania’s Gas Market Is Out Of Sync With EU - Competition Council
Romania’s gas market is not integrated into the EU market because of price disparities, Competition Council president Bogdan Chiritoiu said Thursday. citeşte tot
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Romanian Hidroelectrica GM Resigns For Personal Reasons - Econ Min
Romanian Economy Minister Ion Ariton told MEDIAFAX Tuesday that Constantin Trihenea, general manager of state-owned hydropower producer Hidroelectrica, resigned for personal reasons. citeşte tot
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Romanian Nuclearelectrica Chief Resigns - Sources
The general manager of nuclear power plant operator Nuclearelectrica, Pompiliu Budulan, resigned, people close to the matter told MEDIAFAX. citeşte tot
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Romanian Prospectiuni Inks Exploration Deal For Seven Blocks In Senegal
Prospectiuni (PRSN.RO), a company owned by Romanian businessman Ovidiu Tender, obtained prospecting permits from the Senegal government for seven blocks, seeking gold, heavy metals and rare metals starting January 2012. citeşte tot
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Trade Registry: Companies With A Total RON12.7B In Sales Went Insolvent In Jan-Oct
Companies that went insolvent in Romania by the end of October this year have a cumulated turnover of 12.7 billion lei (some EUR3 billion), compared to RON15.7 billion in the same interval of the previous year, according to Trade Registry data. citeşte tot
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Romanian OMV Petrom Contracts EUR930M Credit
Romanian oil company OMV Petrom (SNP.RO) contracted a multi-currency revolving credit facility worth EUR930 million, with three years tenor and a possibility for a two-year extension, for general corporate purposes and to fund the current investment program. citeşte tot
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Romanian Hidroelectrica Asks Regulator For 50% Hike In Electricity Price
Romanian hydropower producer Hidroelectrica asked energy regulator ANRE to allow a price increase of up to 50%, starting January 1, on the electricity it delivers, since costs have increased. citeşte tot
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Romanian Fuel Market Antitrust Probe Nears Completion
Romania’s competition authorities have partially completed an antitrust investigation launched in 2005 on the fuel market, regarding the prices applied by oil companies, Competition Council president Bogdan Chiritoiu told MEDIAFAX Tuesday. citeşte tot
