October 12 (SeeNews) - Following are some of the main stories in the online versions of Romanian media over the weekend and on Monday morning. SeeNews has not verified these reports and cannot vouch for their accuracy.
ZIARUL FINANCIAR
- Emerging markets, including Romania, have good perspectives and the shares of Romanian companies are traded at attractive prices now, but the local currency, the leu, is over evaluated, the head of US Franklin Templeton's division for investments in emerging markets, Mark Mobius, said. He added that the high interest rates in Romania help keep the leu/euro exchange rate at the current levels and the exchange rate will eventually depend on the inflation rate in the country.
- Citibank Romania, the local unit of the U.S. financial services group Citigroup, reported a 3.0 million euro net profit for the first half of the year, according to market sources.
- Foreign investments in the form of capital injection in Romania totalled 345 million euro in July, up 39% on the month and down by 25% from a year ago, the country's trade office said.
- Axa SA, Europe’s largest insurer, will seek to enter the Romanian market by 2012 as part of its plans to gain market share in central and eastern Europe, the daily reported quoting Bloomberg.
- German car parts maker Takata Petri has moved its production of car parts for Mercedes and Honda to the Romanian western town of Arad after it closed a factory in Poland in August, Takata Petri AG communication director Lux Jacob said.
MEDIAFAX
- The Value Added Tax (VAT) will not be increased next year, Romania's Tourism Minister Elena Udrea said, adding that the 2010 budget drafted by the government includes no VAT change.
BUSINESS STANDARD
- Romania and Bulgaria want to collaborate for the construction of two hydropower plants with European funds, deputy Economy Minister Tudor Serban said.
(1 euro=4.2852 Romanian lei)