Archive for ‘octombrie 2009’

Germany, Italy, France and Sweden have announced that next year will decrease taxes to stimulate the economy. Other countries, like Spain, is preparing to increase taxes in an attempt to reduce its huge budget deficits of crisis.

Stimulating business will bring more money in the budget, and so we can reduce the deficit, said German Chancellor Angela Merkel. She thus justified the decision to reduce taxes for companies and individuals in 2010 to 24 billion euros.

The announcement comes after Germany and other European countries have taken similar decisions. In Italy, Prime Minister Berlusconi announced that consider reduction of taxes to support economic activity. The move was criticized by the Minister of Economy, Giulio Tremonti, a follower of budgetary rigor, which has threatened to resign. Italy followed the example of France, which reduced charges companies, a decision will be a tax exemption of 11.7 billion euros for companies in 2010.

In turn, the government of Sweden announced income tax cuts to stimulate employment. Unlike the measures of fiscal relaxation in these countries, there are states that are preparing to raise fees next year in an attempt to reduce deficits, Spain being one of them. Regardless of the method it will address the Member States, the European Commission urged European states that by 2011 to reduce the budget deficit closer to the level of 3 percent of GDP.

Bucharest Stock Exchange has deepened in the mid-session Monday falls on lower trading volumes, SIFs accounting for the highest decline in the market of 1.45%.

BET, which shows changes in the ten most liquid securities listed on BSE, decrease by 1.05% to 4626.98 points, while the composite index, BET-C, down by 1.33% to 2784, 62 points.

BET-FI, of the five financial investment companies (SIF), lost 1.45% to 23,032.06 points and the index ROTX, played at the Vienna Stock Exchange, down by 0.95% to 9770, 62 points.

BET-XT, the most liquid 25 securities, lost 1.24% to 455.06 points and the BET-NG, which reflects the evolution of ten titles in the energy sector of the stock exchange, down to 1.31 % to 614.56 points.

European stock exchanges recorded significant light at about 13.Thus, the most important representative index of 100 stocks listed on the London Stock Exchange, FTSE, grew by 0.37% to 5261.72 points and in Frankfurt market index, DAX advanced by 0.74% to 5782 , 71 puncte.Indicele the most solid 40 shares on Euronext Paris CAC-40 increased by 0.59% to 3830.67 points.

Actions SIF Oltenia (SIF5) were the most liquid market with a turnover of 471,400 lei, and the cost of 1.72% to 1.14 lei. On the same segment, securities SIF Moldova (SIF2) lost 1.89% to 1.04 lei.

On Banking segment, the share price BRD SocGen (BRD) down to 0.77% to 12.90 lei, while titles Banca Transilvania (TLV) is badly by 0.56% to 1.79 lei.

Regarding the energy sector, shares in Petrom (SNP) is cheap by 2.05% to 0.286 lei, while those of Transgaz Medias (TGN) lost 1.6% to 154 lei.

Supplier and distributor Electrica SA has set for 2010 of around 100 million euro investment in the power grid of the three branches, Electrica Muntenia Nord, Electrica Transilvania Sud and Electrica Transilvania Nord and the production of electricity from wind sources.

"Next year we want to maintain our investment of about EUR 25 million on each of the three distribution subsidiaries, the company's power grid, and lines of high, medium and low voltage. To these are added and investment 20 million euros, the central unit, that is our objective in terms of electricity production from renewable wind, "said meet director general interview NewsIn Electrica SA, John Folescu.

He stressed that as the value of investments that the company will do next year is 15 million euros higher than this year.

"The three branches, Electrica Muntenia Nord, Electrica Transilvania Sud and Electrica Transilvania Nord, investments will be similar to those of this year. However, the Central Unit in 2009, investments were approximately 5 million euros, compared to the 20 million that we want to allocate next year, "said John Folescu.

Director General Electric noted that the investment strategy seeks compliance with qualitative parameters in the supply of electricity, and lack of voltage fluctuations, aesthetics and safety supply facilities.

Electrica SA has proposed the development of renewable generation capacity of about 375mW to meet requirements of green certificates from their own, that of wind power 150mW, 200mW and 25mW biomass of hydropower. Currently, these projects are in feasibility study phase.

The branches of distribution and supply of Transylvania and Wallachia (Electrica Transilvania Nord, Electrica Transilvania Sud, Electrica Muntenia Nord) and the subsidiary Electrica Serv Electrical serves approximately 5 million customers. Electrica's majority shareholder is the Ministry of Economy.

At group level, the company had in 2008 a number of Business 5.9 billion and a gross profit of 1.5 billion lei.

Former Finance mnistru Varujan Vosganian argued, Sunday, in Cluj, the Government allocated money Boc political clientele, increasing the deficit to 8-9% of gross domestic product (GDP), reported NewsIn.

Vosganian said in a press conference that the government secătuieşte Treasury and finance areas of interest of PDL.

"This provisional situation of PDL is used to drain the Treasury accounts. In recent weeks there has been an astonishing centrifugal force from the Treasury to areas of interest of PDL, and perpetuate this situation would threaten irreversible achieve budgetary deficit is so enormous, the 7.3%. In our opinion, if the Government Boc stay in power until after the elections - and it's possible that intimate option Traian Băsescu and therefore it is causing us all sorts of proposals no odds - it is possible that budget deficit to rise above 8% and to increase public debt to 15 billion euros in 2009 ", said Liberal spokesman, adding that" degringolada "the economy will endanger the chance of economic realansare Romania.

Vosganian stressed that "sources of PDL client" of local government are targets of a "bleeding" of one hundred million euros "for local government current expenditure, which were not provided in the central budget.

"We will follow the Official Gazette and you'll see there are those destinations. I, in terms of macroeconomic indicators, it can tell you right now that the budget deficit may rise to 9% of GDP, leading the central government budget to a deficit of over 40 million lei, amazing for Romania in 2009, "Vosganian also said.

In turn, President PNL Cluj, Marius Nicoara senator claimed that belt to work around Cluj-Napoca, bid at 46 million lei, will end up costing the government budget of 150 million, the last payment was approved in recent weeks .

Murfatlar had a record production of wine, up 37% from last year, and said to be the best, not just more. 

Murfatlar announces a record production of wine after the end of harvest in 2009, up 37% from last year, announced today the manufacturer.

Wine production is a significant leap in 2009, to 30 million liters of wine, of which 9 million liters of red wine and 21 million liters of white wine. In 2008 it was only 22 million liters of wine.

Murfatlar representatives say that the quality of wine in 2009 will be just fine. "Temperatures were ideal for life this year, reflected both in quantity and in quality wines that will carry the label in 2009. Red wines will have a very special quality, estimating the peaks and white wines, "wrote the company in a statement.
Murfatlar is the market leader and believes that because this production will exceed the figure of Business Last year, 170 million lei. 

Online giant Google will continue to invest to bring new products on the local market, considered very important in the company's plans, according to Google specialists, who will participate in RoNewMedia 4.0, the fourth edition of the most important event dedicated online industry, organized of F5, a new media company trust CBS Company. 

"Google has already invested in bringing more products of local users in Romanian. We are very pleased with how users in Romania have accepted and use our products and we continue to invest to bring more products to this market, "he told Business Standard Hrabren Suknaic, regional manager Adriatics, Romania & Bulgaria.

He added that Google has always evaluază investments on the Romanian market, but in terms of opening an office in Romania, he explained that it is not in a position to provide information at this time. However, says Suknaic, the gap between Romania - and other countries of Central and Eastern - and Western countries is quite high in terms of Internet penetration, but the region begins to exploit the full potential of internet and online advertising .

Romania has attracted only 435 million euros in structural funds allocated in 2007-2009. The amount represents less than 8% of the value of 5.6 billion euros earmarked by the European Commission over the last three years. Of the seven operational programs that may be attracted European funds, the largest percentage of absorption is recorded at the Economic Competitiveness.

It was only this sum because some big frauds made in 2003-2006 period, when a lot of mayor's take UE funds and use it for something else that they should be.

Over 16% of funds allocated for this program came to beneficiaries, who are mainly small and medium enterprises. The lowest level of absorption, near zero, it has been for local programs. These findings should be, according to data centralized by the Structural Instruments Coordination Authority of the Ministry of Finance.

"In 2007 did not do anything. Only in 2008 have been approved by Brussels authorities management programs were launched and began to be made first projects, "explains Radu Clear, consultant on European funds. According to him, it is too early at this point to achieve a real appreciation of the amounts absorbed, as Romania has greatly delayed the procedures for accessing EU funds.

 

The company Lukoil Romania, member of Russian Lukoil group, the more expensive gasoline and diesel with 3 cash per liter, from Friday, according to data posted on the oil company portal.

Currency values after 5-9 October 2009 period in Romania:

I just watched a video from money.ro in which our economy minister Pogea barely touch this subject. They want to increase the VAT from 19 to 21 %. A measure that will ultimately bring to their knees a lot of companies, espacially because they can't get discount of it since april, when a lot of discount procedures were disabled.

Ultimately the economy minister want that only the big companies to stay on their feet and to destroy any minor companies that were on in the last years. In this way they'l have the control again, like 7-8 years ago.

And this ongoing crisis just give them the motive.

Voxline Communications, a provider of mobile marketing applications, call center and web applications, has invested 100,000 euros to launch the Clip in Touch, a service company in particular for mobile advertising campaigns, which may share personal videos.



With the new service, which is available from the beginning, companies can create and share videos directly to mobile phone user and the application is available for phones with camera, Internet connection and support mobile java2me technology.

CB reference rate rose by about half a penny Wednesday (0.13%), at 4.2673 lei / euro, on a quiet market with few transactions, the lion followed the evolution of other emerging currencies in the region.

Tuesday, the central bank show a course reference of 4.2619 RON / EUR.

"The market is relatively calm, and the lion has a tendency to start hearing impairment, in keeping with the region," said, for NewsIn, Ciprian Mihai, head of the treasury department Volksbank Romania.

European currency to buy the debut meeting with 4.2650 lei, after the exchange rate dropped to 4.2560 units per euro, then ieftinească lion to almost 4.27 units per euro. At 13:10, one euro bought 4.2624 banks and sells it with 4.2714 lei lei.

The unemployment rate calculated for persons aged 15 and 74 who did not work, but are available to work and sought a job last month, fell in the second quarter of 2009 by 0.6 percentage points from the previous quarter to 6.3%, announced Monday INS.

Data published by the National Statistics Institute (INS) shows that the unemployment rate, calculated according to the criteria the International Labor Office (ILO), was in the range from April to June by 0.7 percentage points higher compared to same quarter of 2008.

By gender, the difference between the two ILO unemployment rate was 1.9 percentage points (7.1% for men and 5.2% for women), while the average residential difference was 3.2 points percentage (7.7% for urban areas, versus 4.5% for rural).

ILO unemployment rate was the highest level - by 19.2% - among young people aged between 15 and 24 years.

The active population has exceeded 10 million people in the second quarter

Active population of Romania was in the second quarter of this year, to 10.008 million people, up from 9.7 million persons in the previous quarter, of which 627,000 were registered as unemployed by the Romanian, according to ILO criteria.

Activity rate of population aged 15 and 64 years rose to 63.4% from 61.8% in first quarter.

Economic dependency ratio (the number of inactive and unemployed incumbent in 1000 of persons employed) went down to 1292 ‰, 1379 ‰ in the period from January to March. It continues to be higher for women (1603 ‰) and for people in urban areas (1339 ‰).

Employment rate of working age population (15-64 years) in Romania was 59.2% in the second quarter of 2009, at a distance of 10.8 percentage points to 70% target set for 2010 by Lisbon Strategy.

The occupation had a lower level than in the corresponding quarter of 2008, by 59.7% but was 1.8 percentage points over the previous quarter.

As in previous quarters, this indicator had higher values for men, 65.6% against 52.9% for women and for people in rural areas, by 62.2% to 57.1% in urban areas. Employment rate of young people between 15 and 24 years was 24.5%.

In the second quarter, ILO unemployment rate, at 6.3% was almost 0.5 percentage points higher than registered unemployment rate of NAE for the second quarter of this year (5.7% in April, 5.8 % to 6% in May and June 2009), the two rates of unemployment (ILO, respectively recorded NAE) is not comparable because the reference periods and different coverage.

"Data source is a statistical survey on employment in households (AMIGO), which is a quarterly, in accordance with European Parliament and Council Regulation no. 577/1998 on the organization of selective surveys on employment in the European Community ", the communiqué also says INS.

Dinu Patriciu is the richest Romanian in 2009 in the top publication prepared by Forbes Romania. Dinu Patriciu's fortune stands at 2.2 billion euros. The second position, with 1.2 billion euros, is Ion Niculae, owner InterAgro group. With over 850 million, Ion Tiriac, third in the ranking of the richest Romanian.

Fortune's 500 people present in the top of Forbes totaling 29 billion euros, or 21 of Romania's gross domestic product in 2008. But it is 25 percent lower than last year. Of the 500 billionaires, 314 had losses and 87 have profited from the crisis.

According Forbes Datas, the man who lost a lot of money is George Becali, his fortune being reduced by 525 million dollars. Steaua Bucharest owner has now only 200 million dollars and is on 27th place on Forbes Top.

The global crisis has redesigned the map of the world economy to benefit emerging economies such as China, but experts doubt its capacity to generate a single, global growth, the way they did the United States in recent decades.

"The crisis has increased the movement from West to East" of the global economy, a summary Niall Ferguson, professor at Harvard Business School, in a debate organized by the BBC in Istanbul on margin general meeting of the International Monetary Fund and World Bank.

Over 800,000 employees of public administration, health and education will cease, months, so that children will not go to lessons, hospitals will not only urgent admissions and customs, pension funding counters or the local government will be closed.

Thus, the general directions will be closed Monday for public finance, tax administrations, the directions of tax collection, pension houses, unemployment, municipalities and customs. In some schools, kindergartens and nurseries will only provide supervision of children, but will not become lessons.

U.S. authorities have closed three banks in states Minnesota, Michigan and Colorado, going up the total number of banks closed early at 98, in the context of the largest economic crisis of the last 70 years, according to Bloomberg.

Thus, the Federal Deposit Insurance Corp. (FDIC) deposit guarantee scheme administrator in the U.S., announced Friday by the close supervision of two banks - Jennings State Bank of Spring Grove, Minnesota, and Warren Bank in Warren, Michigan. A third bank is closed Southern Colorado National Bank in Pueblo, Colorado.

FDIC Friday announced bankruptcy will cost 293.3 million U.S. dollars.

The FDIC said it will continue to guarantee bank deposits and do not require a change in the relationship with the bank for a customer to be insured.

Bankruptcies in the U.S. bank this year reached the highest number after the crisis of the early 90s, given that creditors continue to be under pressure, especially on the mortgage loans. Unemployment reached its highest level in September for the past 26 years in the United States so that banks still have customers that can not pay rates on loans.

Last year, 25 American banks were closed by the government, up from three in 2007, over 120 bankruptcies dibn past two years epuizând much of FDIC funds.

Guarantee scheme manager hopes to get 45 billion dollars in three years prepay by bank contributions to the FDIC.

The government expanded the program of de minimis aid for development and modenizării SMEs by including among the beneficiaries and companies in the field of cooperatives, announced Premier Emil Boc, stating that they have been allocated 100 million for the period 2009 to 2011.

According to Boc, the Romainian Prime-minister, firms in the field of cooperatives were omitted from among companies receiving de minimis aid.

The Premier said that, of the 100 million euros, 20 million will be paid in 2009 and 40 million each in 2010 and 2011. Are non-refundable aid.

Source: money.ro

The currency values on market on 2nd of October 2009

All stock market values are for romanian leu coin:

The currency values on market on 2nd of October 2009

All stock market values are for romanian leu coin: