International
‘Crisis proof’ Czech bonds raise EUR 2 billion
The latest Czech sovereign bond issuance raised EUR 2 billion on ten-year bonds, with demand reaching a value of EUR 3.5 billion from around 190 investors. Erste Group Bank AG managed the issuance and released a statement saying that the Czech Republic “capitalized on its strong fundamentals and reform pace, which were positively received by [...]
Winter sales trigger 16% increase in Wienerberger’s turnover
Bricks producer Wienerberger posted a turnover of EUR 2 billion in 2011, up 16 percent over the previous year, mainly due to the company’s focus on developing premium products, but also due in part to higher than usual temperatures towards the end of 2011, which allowed work on construction sites longer, according to the company. [...]
Geneva motor show to host 180 world and European premiers this year
For the first time the Car Of the Year will be named at the 82nd Geneva International Motor Show. One of the world’s top motor shows, 2012′s edition will boast 180 World and European Premiers and 260 exhibitors from March 8 – 18 on the banks of Lake Geneva. Latest technology, new models and the [...]
Google and London Stock Exchange team up to offer free real time share prices
Search engine Google has made a deal with the London Stock Exchange and Borsa Italiana to offer real time share prices free of charge. The agreement will give Google users around the world access to previously unavailable real-time ‘last trade price’ data. It is the first deal of its kind and means that individual private [...]
Once in a lifetime 13 carat pink diamond found in West Australia
Australia’s largest ever pink diamond has been found in Rio Tinto’s Argyle mine in Western Australia. The as yet uncut and unpolished 12.76 carat diamond is reported as being an exceptional example of the ultra rare pink variety. “A diamond of this caliber is unprecedented – it has taken 26 years of Argyle production to [...]
Austrian oil and gas group OMV ups profit on high oil prices
Oil and gas company OMV had 6 percent higher profit before taxes in 2011 than in 2010, reaching EUR 2.4 billion. “2011 was a successful year for OMV Group. The year was dominated by the Arab spring which led to high oil prices on the one side but missing volumes from Libya and Yemen on [...]
Central Media Enterprises ends 2011 with EUR 179 mln loss, while third quarter loss triples
Central Media Enterprises (CME), the owner of several TV stations and new media businesses in Romania ended 2011 with a EUR 179 million loss, 53 percent higher than the year before. The fourth quarter of the year tripled the company’s loss, to some EUR 77.3 million. The group’s net revenues went up by 17 percent [...]
Telecom provider GTS Central Europe ups profit by 9%
Telecom services provider GTS Central Europe (GTS) saw an improvement in its revenues in 2011, to EUR 396 million, an increase of 2 percent compared to the year before. The profit before taxes stood at EUR 99 million, a growth of 9 percent on 2010. The company operates with a 25 percent profit margin. “In [...]
Late night talks achieve new Greek bailout breakthrough
After talking well into the night, eurozone finance ministers agreed the new bailout for the beleaguered Greek economy. The way is now clear for the country to receive its second round of bailout loans, valuing around EUR 130 billion and vital to meet debts due towards the end of March. Last night’s decision ( February [...]
China dominates art market in 2011, best ever year for art
China firmly stamped its dominance of the international art market in 2011, which stood at USD 11.2 billion. For comparison, the Romanian art market reached some EUR 14 million in 2011. Mainly Chinese driven growth in the global art market was strong- a 15 percent increase in revenue last year, well ahead of financial markets, [...]
Toy maker Hasbro teams up with Zynga to create toys based on online social games
Online gaming firm Zynga has announced a deal that will allow toy manufacturer Hasbro to develop toys and games based on Zynga brands. Zynga has produced several online social game brands, such as FarmVille, CityVille and Words With Friends. The deal follows a similar move between toys producer Mattel and Rovio, the producer of Angry [...]
BBC to air 3D London 2012 Olympic Games coverage
The BBC will partially broadcast in 3D high definition the London 2012 Olympic Games that will take place between July 27 and August 12. The coverage will be broadcast on the BBC HD channel and available free of charge to UK viewers with televisions that support HD and 3D. The BBC first aired sports in 3D [...]
German President resigns over corruption scandal
German President Christian Wulff resigned on Friday (February 17). Although he previously refused to step down as president, pressure was building on Wulff over alleged corruption and Germany’s moral figurehead could be stripped of legal immunity and charged with criminal offences. Chancellor Angela Merkel has canceled a trip to Italy over the scandal and is [...]
Fontana slashed canvas fetches over a million pounds at auction
Modern art’s saleability was tested at the Philip de Pury & Co’s Contemporary Art Evening in London last night ( February 17 ). The auction raised USD 9 million with Lucio Fontana’s Concetto spaziale, Attese, the highest priced piece, fetching over a million pounds – around USD 1.65 million. The piece was previously owned by [...]
GM makes multi-billion dollar profits in North America but loses in Europe
Car maker General Motors ( GM ) reported record profits for 2011 yesterday ( February 16 ). After completing its first year as a publicly traded company, net profit for the global car manufacturer stood at USD 7.6 billion, well up from the USD 4.7 billion net profit in 2010. But the news in Europe [...]
Jamie Oliver strikes gold in new restaurant basement
A valuable and rather unusual haul of treasure was found in the basement of well known TV chef Jamie Oliver’s new restaurant in Manchester, England. The building on historic King Street was previously a bank, and during refurbishing safety deposit boxes, including some nearly 80 years old, were found. Various unclaimed treasures were uncovered, including [...]
World Bank President Robert Zoellick announces resignation
World Bank President Robert B. Zoellick is to step down after a five year tenure at the institution. He will continue to lead the Bank and perform all his usual duties until June 30 of this year. The bank hasn’t yet announced a replacement for Zoellick, but the replacement process was approved in April last [...]
Kellog’s buys Pringles from P&G for USD 2.7 billion
Procter and Gamble has sold the Pringles snack brand to cereal giant Kellog’s. The deal is worth USD 2.7 billion- or some 1.8 billion tubes of Pringles, which sells for around USD 1.5. The transaction should go through over summer, pending the go-ahead from regulatory bodies. The Kellog Company will also take over two production [...]
ProTV owner partners Samsung to expand Voyo video-on-demand platform on smart TV sets
Consumer electronics producer Samsung Electronics has teamed up with media company Central European Media Enterprises, which owns the ProTV television channel in Romania, to bring CME’s Voyo transactional and subscription video-on-demand services onto Samsung Smart TVs. Voyo has been running in Romania since August 2011 as an online platform, voyo.ro, which runs pay-as-you-go videos, as [...]
Rare ‘Double Eagle’ coin on display at Goldsmith’s Hall in London
The rare 1933 US ‘Double Eagle’ coins are a real legend among collectors, as one sold in 2002 for USD 7.6 million, making it the most expensive gold coin ever sold at auction. This year a 1933 Double Eagle will be exhibited in Europe for the first time, in London. The coin will be on [...]
CEE ambassadors send open protest letter on Dutch anti immigrant website
Dutchman Geert Wilders and his far right PVV party are continuing to cause anger around the EU over their website inviting complaints about Eastern European immigrants. Ambassadors from ten Central and Eastern European states have sent an open letter to the Dutch Parliament urging action against the inflammatory website called www.meldpuntmiddenenoosteuropeanen.nl. The European Commission (EC) [...]
My Funny Valentine: Android girl charms Tokyo shoppers
A lonely figure, a young woman seated outside a department store in Tokyo, checks her mobile phone, glancing up expectantly. But this girl has hidden depths. Underneath her flawless skin are microchips and air servos: Geminoid F is an android and her place outside the Takashimaya department store over Valentine’s day is a social experiment [...]
Hungary to give up flat tax as part of new deal with IMF
Hungary will have to give up on its flat tax to sign a new deal with the International Monetary Fund (IMF), according to local newspaper Nepszabadsag, quoting government sources. Hungary, like Romania, currently has a 16 percent flat tax on income, but must change taxation policy to qualify for a planned EUR 20 billion deal [...]
Apple starts independent inspection of suppliers as share price tops USD 500
While giant consumer electronics producer Apple’s shares soar above the USD 500 a share mark for the first time, the company responded to recent criticism of working conditions down the company’s supply chain. The independent Fair Labor Association (FLA) has been brought in to look at conditions in Apple’s supply chain. FLA inspections at Foxconn, an Apple supplier, [...]
Moody’s takes rating actions on nine EU states
The ratings agencies have been at it again: more downgrades and negative outlooks for EU sovereign debt. Moody’s announced actions on nine EU states yesterday ( Monday 13 ). Unlike Standard and Poor’s, Moody’s has not so far downgraded France and Austria from triple A status, but has now put them on a negative outlook. [...]
Enter a city
Romanian court rules Prince Paul member of Royal House of Romania 
Jamie Oliver strikes gold in new restaurant basement - Top Gear’s James May (just about) presents new Dacia Lodgy during the TV show
Yum! switches to Coca Cola from rival Pepsi for its KFC, Pizza Hut restaurants in Romania - Subway fast food chain enters Romanian market with Iasi restaurant
Two Romanians awarded by Oscars organizers for Phantom high speed camera 
Romanian climber Coco Popescu sets world record for climbing tallest volcano in Antarctica 
Romanian actress Ana Ularu receives ‘Shooting Stars’ award at Berlin Film Festival 
Shakira to shake up Bucharest with May concert 
Lufthansa introduces new flights to Romania after 20% increase in passenger volumes
