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16. 12. 09. - 10:00

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16. 12. 09. - 10:00

Volksbank Romania rejects changes in its business model

Romanian Times

Volksbank Romania has announced it will not change its business model and will continue to make loans.

The bank made the announcement in reaction to media reports about the problems its parent Volksbank Austria has.

Volksbank Romania will not close any branches or lay off any employees, its statement also reads, and claims relocations will take place in case lease contracts cannot be renewed.

Romanian Central Bank official Nicolae Cinteza has been quoted as saying Volksbank Romania does not have any problems.

The Austrian newspaper Die Presse reported yesterday (Tues) morning that the Austrian National Bank (OeNB) and the Financial Market Supervisory Authority (FMA) had put banking group Oesterreichische Volksbanken under observation and called for changes in its business model.

Volksbank Romania is a subsidiary of Volksbank International, the major stakeholders of which include Oesterreichische Volksbanken (Austria), DZ Bank and WGZ Bank (Germany) and Banque Populaire Caisse d'Epargne (France).

Government to introduce ‘Robin Hood’ tax on oil companies
Minister of Economy Daniel Chitoiu announced today (Weds) that the government is working on a piece of legislation on introducing a supplementary tax on the exceptional incomes of the oil companies that should be passed by the year end and implemented as of 2013.

Education Minister stepps down amid plagiarism accusations
Ioan Mang, the education minister appointed only two weeks ago together with the new cabinet of Social Liberal Union (USL) leader Victor Ponta, resigned Tuesday (yesterday) night.

Brancusi’s son doesn’t want his father remains to be moved to Romania
John Moore, the only child of sculpture Constantin Brancusi, reacted to Romania’s intention to repatriate the remains of his father, saying his last will was to be buried in Paris at Montparnasse, Libertatea newspaper informs today (Weds).

Romania back in recession, growth to resume in H2
Romania officially entered recession today, following the figures published by the National Statistics Institute (NSI) that show a decrease of the GDP for two consecutive quarters (Q).

Police head sacked over underground boss runaway row
The head of the Romanian Police Liviu Popa (picture) was sacked today (Tues) by Home Affairs Minister Ioan Rus, the ministry informs.

UK Ambassador Harris says new Cabinet took right decisions so far
The UK Ambassaodr in Romania, Martin Harris says Victor Ponta’s new government got off on the right foot by making clear that its economic policy will continue to be framed within the programme agreed between Romania and the EU, World Bank, and IMF.

Carmen Sylvas x-rayed hand to be auctioned
A x-ray of the left hand of Romanian Queen Elisabeta will be auctioned in Bucharest by Artmark auction house, Libertatea newspaper informs today (Tue).

Rising handbal player hangs herself because of family quarels
A rising star of the Romanian handball was found hanged on Sunday (yesterday) in her family apartment in Drobeta Turnu Severin (South West), Romania TV news channel informs today.

Triumphant welcome in Bucharest for the national gymnastic team
The national team of gymnasts returned home today at noon from the European Championship held on Saturday and Sunday in Brussels, and was welcomed by a numerous crowd at the Henri Coanda International Airport in Bucharest.

Sorin Oprescu to win in a landslide, poll suggests
An opinion poll released today (Mon) makes the current Mayor Sorin Oprescu favourite for the Bucharest municipal elections, Realitatea TV news channel informs.