26th april
2007
EUR 8 M programme to promote Romanian tourism
The Ministry for SME, Tourism and Liberal Professions will implement a programme
to support the Romanian tourism. The programme budget will amount to EUR 8 M in
2007, Minister for SME, Tourism and Liberal Professions Ovidiu Ioan Silaghi stated
in a recent interview to Rompres.
“The promotion and revitalisation of the Romanian tourism can only be achieved
by improving tourism offerings and the quality of services. Employers in the tourism
industry should take into account the foreign competition,” Silaghi said.
Tomorrow and Friday (April 26 and 27) the Minister is to meet with Constanta local
officials, tour operators and hotel operators and beach concession holders, to
tackle seaside tourism issues. Romania should focus on bringing foreign tourists
in, rather than on persuading Romanian tourists to spend their holidays in the
country, and countries with significant potential are those from the ex-Soviet
space and China, Ovidiu Silaghi believes.
The president of the former National Authority for Tourism, Monica Barbuletiu,
will be state secretary for Tourism at the newly established Ministry led by Ovidiu
Silaghi, according to several sources.
Suez group interested in Turceni, Rovinari power complexes
French utilities group Suez is interested in acquisitions in the Romanian electricity
sector and in the Rovinari and Turceni power complexes, Minister for SME, Tourism
and Liberal Professions announced.
In fact, according to Silaghi, as many as 20 French investors have announced plans
to enter the Romanian market in the ensuing period.
“Some of the most important companies which eye the Romanian market include
Aeroport B Paris, La Poste, Paribas, Calion, Electrabel.
Source: Nine O'Clock
Volksbank estimates gross profit of EUR 22.11 M
in 2007
Volksbank Romania intends to make a gross profit of EUR 22.11 M compared to EUR
13.7 M in December 2006 with assets worth EUR 2.3 M compared to EUR 1.38 bln at
the end of last year. The bank intends to reach a market share of 3.25 per cent
by the end of the year compared to 2.7 per cent registered in December 2006, the
lending institution informed on Wednesday. Asset-related estimates are higher
than the originally announced ones of EUR 1.9 bln.
The bank’s loan portfolio will reach EUR 1.45 bln compared to EUR 802.5
M in December 2006. Attracted deposits will rise from EUR 310.5 M at the end of
last year to EUR 390M in December 2007. Volksbank Romania wants to invest around
EUR 20 M in expanding its network, in IT and in refurbishing headquarters this
year. The bank’s assets were standing at EUR 1.77 bln and the profit at
EUR 4.1 M at the end of Q1.
Volksbank Romania will establish a brokerage company in the real estate sector
that will have the role of match-making the bank’s clients who wish to sell
or buy properties, bank President Gerald Schreiner informed a press conference.
The company will be named Volksbank Real Estate Services and will start operations
in two or there months from now. Volksbank Romania intends to finance estate projects
worth EUR 50 – 60M this year, about half of which will be allocated to investing
in commercial space, stated Simona Fatu, Vice-President of the bank, quoted by
Mediafax.
The Romanian Central Bank (BNR) has returned Volksbank’s proposals in respect
its revised lending norms and the bank is supposed to amend certain provisions
in the documents, added Schreider, also indicating the possibility ‘of not
expressing that well’. The bank president showed that the documents would
be changed that week and re-sent to BNR the following week, also indicating that
the bank might abrogate the down payment condition required of specific categories
of customers.
Volksbank Romania has recently appointed Herwig Burgstaller, former employee of
HVB Tiriac, to replace Klaus Mueller who had taken up a job with a Kazakhstan
bank. At Volksbank, he will be in charge of credit risk management, IT, auditing
and legal advice.
Source: Nine O'Clock
Microchip inaugurates new design center in Romania
Microchip Technology Inc., a supplier of MCU and analog semiconductors, announced
it has inaugurated a design center in Bucharest, Romania.
The new center is part of Microchip's worldwide network of design centers, located
in India, Switzerland and the U.S. According to the company, its objective consists
in playing a "pivotal role in enhancing Microchip's existing product portfolio,
and in developing technologies that continue to set new benchmarks for price,
performance and ease of integration."
Microchip said it has recruited 15 employees, with an intention to count 30 jobs
by the end of 2008 and 100 jobs over the next four years.
"Bucharest was chosen as the location for Microchip's newest design center
because it takes us closer to our customers who are increasingly turning to Eastern
Europe for design and manufacture," said Rich Simoncic, VP of Microchip's
Analog and Interface Products Division, in a statement. "It is only by working
closely with our customers that we can understand the challenges they face and
ensure that we are developing the right products for them."
Source: Times Asia
Michelin Romania Truck, OTR Tyre Production up 23%
The factory, which focuses on the production of truck and OTR tyres, currently
has an annual output of 600,000 units.
Speaking to local media, factory manager Jana Popa painted an upbeat picture of
the coming year. "We have already conquered the market of tyres for agricultural
equipment, heavy vehicles and lorries, which will ensure an over 10 per cent increase
in the volume of our production, while at the same time doubling the volume of
semi-finished products exported to Eastern Europe,” she said. “We
are also relying on the fact that we have regular clients buying our tyres and
demand on the market is currently witnessing an upward trend."
The Zalau factory, acquired from the Tofan group in 2001, produces tyres for lorries
under the partner brands Taurus, Kormoran and Riken, as well as Michelin-branded
industrial tyres. In 2006 the plant also began supplying semi-finished products
to be used in the manufacture of tyres. According to Popa, semi-finished products
prompted a 40% boost in turnover. "Until 2005, we manufactured semi-finished
products exclusively for our own use. However, last year we began to make these
products for customers in Eastern Europe as well," she explained.
Company representatives did not wish to specify the exact turnover registered
by the Zalau-based plant. However, in 2006, Michelin Romania's consolidated net
turnover exceeded 260 million euros, with the estimated growth for this year standing
at 20%-25%.
"Our Michelin-branded tyres are destined for an international market, which
makes Silvania a unique producer within the Michelin Group, with the remainder
of brands being dedicated to the European market," Popa added, commenting
that says Romania has become a hub for Michelin’s Southeast Europe operations.
The company sells the majority of its products to Bulgaria and to Balkan countries
belonging to the former Yugoslavia.
Source: Tire Review Online
Information & Links
romania news
romania news
romania news rss feed
romania news
romania news rss feed
romania news
romania news rss feed
romania news
romania news rss feed
romania news
romania news rss feed
romania news
romania news rss feed
Romania property news
Romania property news
Romania property news
Romania property investment
Romania property investment news property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property romania
property for sale bucharest
property for sale bucharest
property for sale bucharest
property for sale bucharest
romania property investment
romania property investment
romania property investment
romania property investment
romania property investment
Property Romania
Property Romania
Property Romania
Property
Romania
Property
Romania
Property Romania
Property Romania
Property Romania
Property
Investment Romania
Property
Investment Romania
Property
investment Romania
Bucharest property
Off plan property
Romania
Off plan property
Romania
Property for sale Romania
Rss feed romania news.