Romania News
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Vladimir Putin may ride out a wave of protests and return to the presidency on the back of an economic track record that he says marks Russia out from the turmoil sweeping parts of Europe.
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Romania started talks with OMV Petrom SA and OMV AG, its parent company, on increasing oil and natural gas royalties, as the government seeks to raise the payments before 2014, Ziarul Financiar reported, citing Economy Minister Lucian Bode.
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Serbia was declared a candidate to join the European Union, taking a further step out of the isolation it suffered after the Yugoslav wars of the 1990s.
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VTB Capital Plc, the investment banking unit of Russia’s second-biggest state-run lender, plans to invest “several hundred million euros” in the Balkans in the next few years, the bank’s chief executive said.
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Romania received offers from two groups, including Goldman Sachs Group Inc. and Citigroup Inc., seeking to manage the initial public offering of hydropower generator Hidroelectrica SA on the Bucharest Stock Exchange.
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GDF Suez SA will invest more than 100 million euros ($134 million) in Romania this year in wind and gas projects, exceeding its annual investment average, said Eric Stab, GDF Suez’s country manager in Romania.
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Romania’s central bank said it will accept dollar-denominated bonds sold by Romania on international markets this year as collateral in open-market and monetary policy operations starting March 1.
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Erste Group Bank AG, eastern Europe’s second-biggest lender, is close to filling its capital gap after fourth-quarter net income rose 4 percent, beating analysts’ estimates on a decline in bad debt charges.
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Banca Comerciala Romana SA, Romania’s largest bank by assets, said its 2011 profit dropped 85 percent from a year earlier, citing growing bad-loan provisions amid faltering economic recovery.
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Romania reopened a 10-year dollar- denominated bond after it sold $1.5 billion on Jan. 31 in its first sale of bonds on the U.S. market, Finance Minister Bogdan Dragoi said today.
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