Business Review

The local insurance market has been hit hard by the current economic crisis, and specialists expect its performance this year to be much the same as in 2010. Many insurers are now focusing on adapting their portfolio to the new economic conditions, entering on new market segments and adjusting their products to the needs of their customers.

Anda Sebesi

With estimated economic growth of about 2 percent this year, Romania has emerged from the recession but still has a long way to go to get through the current economic crisis. In order to help ensure sustainable growth, the government must develop a clearer and more predictable taxation system, say experts.

Anda Sebesi

Romanian company Transfer Pricing Services TPS received the ‘Company of the year in price transfer on Central Europe’ award, given by the International Tax Review. The awards competition included entries from consulting companies in 26 European countries. The companies presented three of their most relevant projects in between March and December 2010. The projects were submitted by each participant state within two sections (taxes and transfer pricing) and for 19 European awards.

Turkey’s second largest lender plans to become one of the top ten local banks. Introducing the SMS money transfer service and expanding its Romanian network are high on the bank’s to-do list.

Corina Dumitrescu

Partner Content

Given the current economic background, public procurement procedures are attracting more and more undertakings eager to build contractual relationships which should be highly reliable in terms of finance.

Ioana Gelepu, Partner at Ţuca Zbârcea & Asociaţii

The National Securities Commission (CNVM) has given the green light to the Property Fund to invest in New York Stock Exchange (NYSE) securities. The New York market is authorized and regulated by the Securities & Exchange Commission.

BCR, the biggest bank on the Romanian market, has seen daily applications for the 1-day consumer loans double in the six weeks since launching a campaign to promote the RON-denominated funding, says Dominic Bruynseels, the bank's CEO.

Dana Verdes

With fines of tens of millions of euro levied since the beginning of the year, the Competition Council (CC) seems to have reached an all-time high. However, with a new regulatory framework and tens of investigations involving heavy industry or oil and gas companies nearing an end, the council is now expected to smash its own records and break new ground in terms of fines. BR takes a closer look at the newly empowered body.

Dana Verdes

The former Labor Code was outdated and needed changing, agreed the HR specialists and attorneys present at the Employment event organized by Business Review last week. The presence of Valentin Mocanu, state secretary at the Ministry of Labor, Family and Social Protection, was the occasion for long and heated debate, but he voiced his expectation that “in two-three years, the results will be positive”.

Corina Dumitrescu

The Bucharest Stock Exchange (BSE) announced that will launch starting May 3 a new benchmark state titles. 

Dana Verdes