Ten insurance companies have together accumulated a loss of EUR 80 million last year, according to a report published by the Insurance Surveillance Commission (CSA). The ten companies which have posted losses last year are Ardaf, BCR Asigurari, Fata Asigurari, Groupama, OTP Garancia, Certasig, Eureko, KD Life, Omniasig Viata and Signal Iduna. There are 40 insurance companies on the Romanian market.

Telecom operator RCS&RDS has introduced a new online bill payment facility. The facility was built in partnership with lender BCR and EuroPayment Services. The online payment facility is accessible through the telecom's operator webpage, through a Digi account

The local subsidiary of Oracle Corporation, signed a five-year agreement for a 14,000 sqm office area in two office buildings, Oracle Tower and Nusco Tower, according to The Advisers/Knight Frank, who represented Oracle in the deal. Oracle will move to the new premises in Nusco Tower starting this autumn.

Ford's National Sales Company (CNV) for Romania has become operational and will sell the car maker's brands in Romania, as well as service and after sell services. Ford is thus ending the ten-year collaboration with Romcar, which used to sell the Ford cars in Romania.

The Hungarian state printing company Allami Nyomda has bought 50 percent of local GPV Mail Services from Hungarian company Díjbeszed. GPV Mail Services is also offering printing services. The value of the deal was estimated between EUR 1.5 million and EUR 2.2 million.

BCR Group posted a net profit of EUR 117 million in the first half of the year, down by 19.5 percent compared to the same period of last year, the group has announced. The decrease was mainly due “on much higher provision expense due the contracting economy heavily impacting the market and BCR’s customers demand,” according to the company.

Main headlines from Romanian and international media for Friday, July 30, 2010

Grup Servicii Petroliere's shareholders have approved a USD 20 million revolving credit facility from Eximbank. The loan was contracted on a year.

Romanian media, Finance Ministry raises EUR 1.2 billion from banks, 3 times more than planned – in Ziarul Financiar, Banca Transilvania, EUR 4 million profit in Q2 – in Ziarul Financiar, A new term for Property Fund listing: January 2011 – in Ziarul Financiar, Romtelecom launches its own sports TV channel – in Ziarul Financiar, Avon sells 45m euros' worth of cosmetics in rural areas – in Ziarul Financiar, Tarom flies high again after EUR 50 million losses of 2009: 30% growth in H1 – in Ziarul Financiar

Romania will use an integrated information system in its health sector, which includes the introduction of a health card, the electronic chart and the electronic prescription, which it hopes to introduce by the end of next year. This could save the country some EUR 300 million, according to Prime Minister Emil Boc.

Ten insurance companies have together accumulated a loss of EUR 80 million last year, according to a report published by the Insurance Surveillance Commission (CSA). The ten companies which have posted losses last year are Ardaf, BCR Asigurari, Fata Asigurari, Groupama, OTP Garancia, Certasig, Eureko, KD Life, Omniasig Viata and Signal Iduna. There are 40 insurance companies on the Romanian market.

Telecom operator RCS&RDS has introduced a new online bill payment facility. The facility was built in partnership with lender BCR and EuroPayment Services. The online payment facility is accessible through the telecom's operator webpage, through a Digi account

The local subsidiary of Oracle Corporation, signed a five-year agreement for a 14,000 sqm office area in two office buildings, Oracle Tower and Nusco Tower, according to The Advisers/Knight Frank, who represented Oracle in the deal. Oracle will move to the new premises in Nusco Tower starting this autumn.

Ford's National Sales Company (CNV) for Romania has become operational and will sell the car maker's brands in Romania, as well as service and after sell services. Ford is thus ending the ten-year collaboration with Romcar, which used to sell the Ford cars in Romania.

The Hungarian state printing company Allami Nyomda has bought 50 percent of local GPV Mail Services from Hungarian company Díjbeszed. GPV Mail Services is also offering printing services. The value of the deal was estimated between EUR 1.5 million and EUR 2.2 million.

BCR Group posted a net profit of EUR 117 million in the first half of the year, down by 19.5 percent compared to the same period of last year, the group has announced. The decrease was mainly due “on much higher provision expense due the contracting economy heavily impacting the market and BCR’s customers demand,” according to the company.

Main headlines from Romanian and international media for Friday, July 30, 2010

Grup Servicii Petroliere's shareholders have approved a USD 20 million revolving credit facility from Eximbank. The loan was contracted on a year.

Romanian media, Finance Ministry raises EUR 1.2 billion from banks, 3 times more than planned – in Ziarul Financiar, Banca Transilvania, EUR 4 million profit in Q2 – in Ziarul Financiar, A new term for Property Fund listing: January 2011 – in Ziarul Financiar, Romtelecom launches its own sports TV channel – in Ziarul Financiar, Avon sells 45m euros' worth of cosmetics in rural areas – in Ziarul Financiar, Tarom flies high again after EUR 50 million losses of 2009: 30% growth in H1 – in Ziarul Financiar

Romania will use an integrated information system in its health sector, which includes the introduction of a health card, the electronic chart and the electronic prescription, which it hopes to introduce by the end of next year. This could save the country some EUR 300 million, according to Prime Minister Emil Boc.