Romania – Media Review – October 28

ZIARUL FINANCIAR

- Groupama Asigurari, the Romanian unit of France's insurer Groupama, formed via the merger of Asiban and BT Asigurari, will cut its share capital by 873 million lei to 169 million lei to cover the losses posted by Asiban last year, the daily said.

- Iberdrola Renovables Romania, the local renewable energy arm of Spanish power giant Iberdrola, plans to build wind projects with total installed capacity of 1,600 megawatts that could require some 2.0 billion euro investment, Iberdrola Renovables Romania manager Adrian Goicea said.

MEDIAFAX

- Romania might have to renegotiate its 13 billion euro deal with the International Monetary Fund, Romania's interim Prime Minister Emil Boc said, relenting earlier statements on the deal being rock solid.

- Romania's parliament adopted on Tuesday a government decree that eases procedures for reacquiring Romanian citizenship, the agency said.

HOTNEWS

- Political crisis in Romania could increase risks for the country's economy to contract in the fourth quarter as well, according to an ING Bank analysis. Thus, ING analysts consider that Romania's economy could contract faster than the 7.5% forecast earlier by ING for 2009.

BUSINESS STANDARD

- Oil and gas group Dafora has postponed a 40 million euro investment this year, Dafora's majority shareholder, businessman Gheorghe Calburean, said. He added that since the autumn of 2008 clients in South Africa, Ukraine and Bulgaria have put on hold contracts with the group worth $20 million.

- The gross profit of capital Bucharest's main international airport, Otopeni, fell by 3.92% on the year to 62.43 million lei in January-August, the airport's director general Tudor Jidav said.

(1 euro=4.2909 Romanian lei)