Showing posts with label marea neagra. Show all posts
Showing posts with label marea neagra. Show all posts

Monday, November 29, 2010

Two of the leading Petrom top managers, who were in the company's management team ever since the privatisation of the oil and gas producer in 2004, have this year left to carry out the reorganisation of OMV's latest acquisition: Petrol Ofisi."I won't be talking about Petrom today because it is already going in the right direction, of integration. Let's talk about Turkey." This was one of the opening messages conveyed by Wolfgang Ruttenstorfer, CEO of OMV in London, at the latest media summit organised by the Austrian oil group, Petrom's majority shareholder.
In mid-October, OMV finalised the acquisition of Turkey's biggest petrol station chain, Petrol Ofisi, for which it paid one billion euros, securing a significant share of a market credited with the biggest chances of growth in the next period.Reinhard Pichler, 49, former CFO of Petrom, left his position last week, being replaced by Daniel Turnheim, a member of the OMV group since back in 2002. Pichler is not leaving the group, however, but will go to Turkey, where he will fill the same position he has occupied in Petrom since 2004.At the beginning of this year Tamas Mayer, who used to be in charge of Petrom's marketing operations, i.e. of the nearly 550 distribution stations, left the position to become Vice Chairman of the Board of Directors of Petrol Ofisi. According to some sources, Mayer will be running marketing operations within Petrol Ofisi, as well.Agerpres, Mediafax, Romanian Vancouver Sun,Global News, Financial Times,Tribune, ,Wall Street Journal,The Washington Times,Athens News,The New York Times,USA Today,Le Monde

Thursday, November 11, 2010

Blogroll Center  finance

duri, mita, gaze, uniunea europeana,ministru,creditlitia,dosare,coruptie,interne,calificat, infractori,guvern,prezidenriale,dreapta,legea salarizarii unice,salarii,geoana,basescu,finante,tariceanu, socialism,liberalism,marea neagra,lege,europarlamentare,parlament,constitutie,curs,leu,dolar,euro, masuri anticriza,politica,fmi

UniCredit Ţiriac Bank ended the third quarter with 67 million RON (almost 16 million euro) net profit, down 6% compared with the same time last year. Nine months into the year, net profit amounted to 215 million RON (52 million euros), a 15% decline compared with 18% in the first half.Operating revenues exceeded one billion RON (245 million euros) nine months into the year, up 15%, while the credit portfolio rose by 13%, to 13.3 billion RON (3.1 billion euros). Midyear, the lending increase stood at 11%, with the Italian group continuing to apply the strategy designed to boost the loan market share.

Tuesday, November 2, 2010

IMF to relax deficit targets for the co-funding of more EU projects

The IMF should relax budgetary gap targets for Romania so that more EU projects could be co-funded, states Andreas Treichl, a CEO with Erste Group, which controls BCR. "Romania is in a situation of conflicting objectives: its strong advantage are the funds available from the EU, but governmental funding is also necessary for these funds to be used. If money from the budget is allotted, deficit targets agreed on with the IMF are overshot and a conflict of 'interests' emerges. The IMF could relax the targets for the European funds to be used. This will be a very interesting exercise in the following months," Treichl stated.Banks have a direct interest in the success of such a move, considering many entrepreneurs and public authorities need loans to be able to co-fund the European funds they try to get. It remains to be seen whether the banking lobby in this respect will be as strong as in the case of modifications requested for Ordinance 50 regarding retail loan contracts.