BRD-Groupe Societe Generale posted a profit of EUR 113 million in the first nine months of the year, down 28 percent on the level registered at the end of September last year, according to the bank. Its banking revenues were of EUR 634 million, up 5 percent.

The Bucharest state-owned metro company Metrorex transported almost 90 million passengers in the first half of the year, according to data from the Transport Ministry. Last year, 170 million passengers used the Metrorex network, and in 2008, 182 million.

Romania currently has the most unsustainable public pensions system among all the emerging economies in the EU, according to a report issued by international rating agency Standard&Poor’s. The Romanian public pensions system will see an increase in pension expenses by 6.4 percentage points of the GDP in the following decades, from a current 8.4 percent of the GDP, to 14.8 percent of the GDP in 2050.

*BCR Group, controlled by Erste, makes RON 6 million profit in third quarter – in Ziarul Financiar
*The stake of the ordinance becomes the stake of the IMF agreement – in Ziarul Financiar
*Americans from Plexus give up on plans to enter China and open a factory in Oradea – in Ziarul Financiar
*Tg Mures airport seeks EUR 40 mln EU financing – in Ziarul Financiar
*Loss in the banking system reaches RON 474 million in the first nine months – in Gandul

Kumar’s Agra Palace

Address: Pipera – Tunari nr 47

Phone: +4 021 350 3114

Web: www.agrapalace.ro

This week we...

The negotiations between Romania and the International Monetary Fund, which currently runs a review mission in the country, may have reached a deadlock mainly because of the condition to change the consumer loans emergency ordinance 50, so the IMF visit to Romania could be extended, according to Mediafax newswire. Suspending the agreement with the IMF is not excluded at this point, according to the newswire which quotes sources familiar with the talks.

Calendar of events between November st and November 4th - business events, conferences, concerts, workshops,

The charitable association Ovidiu Rom has achieved its target of raising money to support 1,200 children in kindergarden at the Halloween Charity Ball organized on Saturday, October 30, at the Palace of the Parliament. The association raised money both from corporate sponsors and from individuals, which varied between EUR 50 and EUR 11,000.

Somali pirates Friday night seized Panama-flagged tanker MV Polar, which has 24 sailors aboard, of whom one is Romanian, European Union naval force Atalanta said Saturday.

Romania hasn’t met the end-September performance criteria on general government arrears and it will ask the International Monetary Fund for a new waiver of non-observance, IMF mission chief Jeffrey Franks said Friday. This will be the sixth waiver of non-observance on government arrears since Romania signed a EUR 13 billion loan agreement with the IMF in 2009.

BRD-Groupe Societe Generale posted a profit of EUR 113 million in the first nine months of the year, down 28 percent on the level registered at the end of September last year, according to the bank. Its banking revenues were of EUR 634 million, up 5 percent.

The Bucharest state-owned metro company Metrorex transported almost 90 million passengers in the first half of the year, according to data from the Transport Ministry. Last year, 170 million passengers used the Metrorex network, and in 2008, 182 million.

Romania currently has the most unsustainable public pensions system among all the emerging economies in the EU, according to a report issued by international rating agency Standard&Poor’s. The Romanian public pensions system will see an increase in pension expenses by 6.4 percentage points of the GDP in the following decades, from a current 8.4 percent of the GDP, to 14.8 percent of the GDP in 2050.

*BCR Group, controlled by Erste, makes RON 6 million profit in third quarter – in Ziarul Financiar
*The stake of the ordinance becomes the stake of the IMF agreement – in Ziarul Financiar
*Americans from Plexus give up on plans to enter China and open a factory in Oradea – in Ziarul Financiar
*Tg Mures airport seeks EUR 40 mln EU financing – in Ziarul Financiar
*Loss in the banking system reaches RON 474 million in the first nine months – in Gandul

Kumar’s Agra Palace

Address: Pipera – Tunari nr 47

Phone: +4 021 350 3114

Web: www.agrapalace.ro

This week we...

The negotiations between Romania and the International Monetary Fund, which currently runs a review mission in the country, may have reached a deadlock mainly because of the condition to change the consumer loans emergency ordinance 50, so the IMF visit to Romania could be extended, according to Mediafax newswire. Suspending the agreement with the IMF is not excluded at this point, according to the newswire which quotes sources familiar with the talks.

Calendar of events between November st and November 4th - business events, conferences, concerts, workshops,

The charitable association Ovidiu Rom has achieved its target of raising money to support 1,200 children in kindergarden at the Halloween Charity Ball organized on Saturday, October 30, at the Palace of the Parliament. The association raised money both from corporate sponsors and from individuals, which varied between EUR 50 and EUR 11,000.

Somali pirates Friday night seized Panama-flagged tanker MV Polar, which has 24 sailors aboard, of whom one is Romanian, European Union naval force Atalanta said Saturday.

Romania hasn’t met the end-September performance criteria on general government arrears and it will ask the International Monetary Fund for a new waiver of non-observance, IMF mission chief Jeffrey Franks said Friday. This will be the sixth waiver of non-observance on government arrears since Romania signed a EUR 13 billion loan agreement with the IMF in 2009.