Erste Bank reported a 30.1% increase in its net profit last year, up to 932.2 million euro, the highest in the history of the Austrian financial group. The contribution of the recently acquired Romanian Commercial Bank-BCR was evaluated to 27.4 million euro, a company press release says.
The document says however that because the BCR acquisition process was concluded on October 12 last year, the contribution of the Romanian bank was rather modest. But it says that BCR’s local resuts, up 38% to 254 million euro before restructuring measures in 2006, shows a huge potential that will be valuable for the group.
The operational profit rose 20.7% to 2,003.6 million euro excluding BCR.
The Erste board will suggest a dividend boost from 0.55 euro to 0.65 euro pers hare at the general board meeting on May 31, 2007.
For 2007, Erste announced a profit growth target of 25% to be continued with at least 20% in 2008 and 2009.
HotNews.ro, Feb 28, 2007
Sunday, March 04, 2007
Doha Bank to enter Romanian market
Doha Bank, the fifth largest bank in Qatar in terms of market share, will open a branch in Romania in the coming three months, according to Dow Jones Newswire. This would be the first unit of the bank in Europe. DJN quotes Doha Bank deputy head Raghavan Seetharaman, who said the move will be followed by the opening of a network of agencies in the region.
Seetharaman said Romania was chosen for the new location because both Qatar and Romania are important profiders of liquefied natural gas. He said the bank has applied for another four licenses on the European banking market, while also planning to expand to the UAE, Kuwait, Bahrain and India.
HotNews.ro, Feb 28, 2007
Seetharaman said Romania was chosen for the new location because both Qatar and Romania are important profiders of liquefied natural gas. He said the bank has applied for another four licenses on the European banking market, while also planning to expand to the UAE, Kuwait, Bahrain and India.
HotNews.ro, Feb 28, 2007
Jesus film is work of Romanian origin director
He was born in Israel after his parents left Romania after WWII, he lives in Canada and among other is the winner of an Emmy Award for investigative journalism. And he has just presented the alleged coffins of Jesus Christ and Mary Magdalene in a New York event. His name is Simcha Jacobovici.
Jacobovici, born Petach Tikvah, has become of the most controversial people in the world after he announced a documentary he wrote, directed and funded with “Titanic” director James Cameron. The documentary reveals the “real” tombs of Jesus and his family.
Beyond the nature of this controversy, Jacobovici is a renowned documentary producers and hosts “The Naked Archeologist” show on History Channel. His articles were published in New York Times, Boston Globe and Toronto Star.
I talked to him following the controversial presentation he held in New York. In a hall of the Central Library in Manhattan, surrounded by over 200 journalists, Simcha spoke in fluent Romanian about his links to Romania, about visiting the country and about his parents, Jews born in the NE Romanian city of Iasi.
In 2000, Simcha Jacobovici unveiled a commemorative plaque in Iasi, on the very spot where his father was shot in the pogrom against Jewish locals.
The same year, he directed a documentary on the tragedy of the Struma ship transporting Jews to Palestine in 1942, sinking in the Black Sea. The film was presented in Bucharest among others.
I asked him about his film and already existing charges against him by the Romanian Orthodox Church. “How can they accuse me of something before seeing the move or read the book?” he retorted. “No Church should be afraid of the truth”, he said.
He believes revelations included in the documentary are real, scientific facts. But is he aware of the impact the film might have on some 1,5 billion Christians worldwide? “I am a reporter and show facts, but I believe that if our discoveries prove true Christian believers should get strengthened, not weekend”.
The alleged tomb of Christ was discovered in Jerusalem in 1980. Research there could not be possible due to the lack of technical means in that period, but in 2002 Simcha Jacobovici started documenting it for a movie, using sensor cameras and robots.
The documentary says thousands of DNA tests and scientific experiments lead to the conclusion that the tombs belong to Jesus, Mary Magdalene and “their son Jude”.
HotNews.ro, Adrian Novac, New York, Feb 27, 2007
Jacobovici, born Petach Tikvah, has become of the most controversial people in the world after he announced a documentary he wrote, directed and funded with “Titanic” director James Cameron. The documentary reveals the “real” tombs of Jesus and his family.
Beyond the nature of this controversy, Jacobovici is a renowned documentary producers and hosts “The Naked Archeologist” show on History Channel. His articles were published in New York Times, Boston Globe and Toronto Star.
I talked to him following the controversial presentation he held in New York. In a hall of the Central Library in Manhattan, surrounded by over 200 journalists, Simcha spoke in fluent Romanian about his links to Romania, about visiting the country and about his parents, Jews born in the NE Romanian city of Iasi.
In 2000, Simcha Jacobovici unveiled a commemorative plaque in Iasi, on the very spot where his father was shot in the pogrom against Jewish locals.
The same year, he directed a documentary on the tragedy of the Struma ship transporting Jews to Palestine in 1942, sinking in the Black Sea. The film was presented in Bucharest among others.
I asked him about his film and already existing charges against him by the Romanian Orthodox Church. “How can they accuse me of something before seeing the move or read the book?” he retorted. “No Church should be afraid of the truth”, he said.
He believes revelations included in the documentary are real, scientific facts. But is he aware of the impact the film might have on some 1,5 billion Christians worldwide? “I am a reporter and show facts, but I believe that if our discoveries prove true Christian believers should get strengthened, not weekend”.
The alleged tomb of Christ was discovered in Jerusalem in 1980. Research there could not be possible due to the lack of technical means in that period, but in 2002 Simcha Jacobovici started documenting it for a movie, using sensor cameras and robots.
The documentary says thousands of DNA tests and scientific experiments lead to the conclusion that the tombs belong to Jesus, Mary Magdalene and “their son Jude”.
HotNews.ro, Adrian Novac, New York, Feb 27, 2007
New airport for low-cost flights near Bucharest
Low-cost airlines will have to run their operations on an airport due to be built in the Ilfov county surrounding Bucharest in the next ten years, due to higher operational tariffs applied on the Baneasa Airport. Transport minister Radu Berceanu has announced preparations were already under way for low-cost operators to move their base to Alexeni, the future airport.
Alexeni is situated close to the town of Urziceni, some 65 km east of Bucharest.
He said only the companies that would be ready to pay higher operational tariffs would continue their activities on Baneasa.
According to Olivier Jankovec, head of the International Airport Association-Europe, the transfer should be accomplished by using marketing instruments and a differentiated taxation scheme, seen as two of the most transparent tools for such a move.
HotNews.ro, Feb 27, 2007
Alexeni is situated close to the town of Urziceni, some 65 km east of Bucharest.
He said only the companies that would be ready to pay higher operational tariffs would continue their activities on Baneasa.
According to Olivier Jankovec, head of the International Airport Association-Europe, the transfer should be accomplished by using marketing instruments and a differentiated taxation scheme, seen as two of the most transparent tools for such a move.
HotNews.ro, Feb 27, 2007
Senate adopts law on reinvested profit
The Romanian Senate on Tuesday adopted a new draft legislation that would exempt reinvested profit from fiscal duties. The main issue in dealing with the proposal was a possible decrease of budget incomes, but the leader of the Conservative Party-PC, which tabled the bill, said the budget might be balanced through supplementary VAT compensations.
According to Catalin Doica, a state secretary at the Finance Ministry, the Government cannot agree with the law because the budget would not be able to support itself without the contribution of profit taxes.
The exemption means lower incomes to the state budget, which doica places at some 1,2% of the GDP by 2009 for a reinvestments of up to 70% of company profits, Doica said, quoted by press agency Rompres.
Passed with 45 votes in favor, 27 against and two abstentions, the bill will be submitted to House debate.
HotNews.ro, Feb 27, 2007
According to Catalin Doica, a state secretary at the Finance Ministry, the Government cannot agree with the law because the budget would not be able to support itself without the contribution of profit taxes.
The exemption means lower incomes to the state budget, which doica places at some 1,2% of the GDP by 2009 for a reinvestments of up to 70% of company profits, Doica said, quoted by press agency Rompres.
Passed with 45 votes in favor, 27 against and two abstentions, the bill will be submitted to House debate.
HotNews.ro, Feb 27, 2007
Bulgaria plans launch of its own low-cost car
The success of Renault’s Romania-produced Dacia Logan in Central and Eastern Europe sparked a new trend on low-cost cars for emerging markets. Bulgaria has announced its own project for such a car as students and teachers at the Sofia Technical University have developed a new concept named Univers.
The project is apparently focused on Daimler Chrysler, which may be interested in producing a cheap car in Bulgaria. Howerver, there is no clear data in this regard so far.
The idea behind the concept, deveoped over 2 years, is a compact model with enough space for four-five people, that would cost between 7,500-8,500 euro.
While Univers is still a static concept, the Bulgarian team plans to build a functional prototype by summer 2007 and then look for investors or even European funds to produce it.
Automarket, Feb 27, 2007
The project is apparently focused on Daimler Chrysler, which may be interested in producing a cheap car in Bulgaria. Howerver, there is no clear data in this regard so far.
The idea behind the concept, deveoped over 2 years, is a compact model with enough space for four-five people, that would cost between 7,500-8,500 euro.
While Univers is still a static concept, the Bulgarian team plans to build a functional prototype by summer 2007 and then look for investors or even European funds to produce it.
Automarket, Feb 27, 2007
President Basescu: Romanian state is yet to be freed from influential groups
Corruption “is still distorting the economic decision making and influencing the free competition and equal chances” in Romania, President Traian Basescu said at the presentation of the latest Interior Ministry activity report on Tuesday.
But Basescu used the occasion to appeal the interest of grassroot people as he avoided major policy issues and talked of the new driving code and the behavior of policemen towards citizens.
It was the first time when Basescu met PM Calin Popescu Tariceanu, also attending the event, after the two were involved in an unprecedented televised clash a week ago, when they accused each other of being under the influence of various interest groups.
For his part, PM Tariceanu said today that a main focus for the Interior and Administration Ministry once Romania joined the EU was to secure its eastern borders. And he warned a tolerant attitude still existed towards small crime.
HotNews.ro, Feb 27, 2007
But Basescu used the occasion to appeal the interest of grassroot people as he avoided major policy issues and talked of the new driving code and the behavior of policemen towards citizens.
It was the first time when Basescu met PM Calin Popescu Tariceanu, also attending the event, after the two were involved in an unprecedented televised clash a week ago, when they accused each other of being under the influence of various interest groups.
For his part, PM Tariceanu said today that a main focus for the Interior and Administration Ministry once Romania joined the EU was to secure its eastern borders. And he warned a tolerant attitude still existed towards small crime.
HotNews.ro, Feb 27, 2007
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