Articles in category Financial Services (Investment Funds)
The companies that manage private pension funds must have at the moment of
submitting their authorization request a minimum share capital equivalent in
lei to the amount of...
Authorities are trying to clarify legal issues surrounding the
Proprietatea Fund as soon as possible. Rather than planning a special
session in Parliament, authorities are preparing an emergency...
Individual investment accounts had amounted to almost 9% of the mutual fund
market at the end of the first six months, and assets corresponding to these
accounts doubled...
The Property Fund has collected dividends worth 18.5 million euros (65.7
million RON) from Petrom, accounting for a 9.89% stake owned in the biggest
company in Romania. The...
The financial investment companies (SIF) reported at the end of the first
six months of 2006 an overall volume of net assets worth 6.52 billion lei
(1.827 billion...
Former Minister for Finances Daniel Daianu acquired in April a stake
accounting for seven per cent in the stock of SAI Investica Asset
Management, a decision based on...
The Proprietatea Fund cashed dividends for year 2005 equal to 65.7 M RON
(EUR 18.5 M) from Petrom, corresponding to its stake of 9.89 per cent in the
...
SIF Muntenia posted an income of 83.78 million RON (23.67 million euro) in
the first half of the year, over three times higher than the net profit from
...
In the first half of this year SIF Oltenia derived net income worth 91.5
million RON (25.8 million euros), the biggest profit of the four financial
investment companies...
The Proprietatea Fund became a shareholder in the World Trade Center
Bucharest after buying a 19.9 percent stake in the company from the
Authority for the Recovery of State Assets (AVAS). The nominal capital of
WTC Bucharest remained unchanged at approximately 2.2 million euros
following the transaction. World Trade Center Bucharest was created in 1994
as a multinational company in which the Romanian party held 55 percent of
the shares, the rest belonging to several French companies. The company
registered revenues last year totaling 14.8 million euros, 15 percent less
than the previous year. Additionally, WTC Bucharest had debts owed to AVAS
amounting to more than 60 million euros.
The Proprietatea Fund submitted a legal complaint against the oil company Oil Terminal, as the latter allegedly has not paid the fund dividends owed for 2005. The Proprietatea Fund requested the annulment of a decision made by Oil Terminal's general shareholders assembly on May 26, through which it approved the payment of the dividends would go to the Ministry of Economy and Commerce (MEC), but only after the latter and the Proprietatea Fund determine a way to share the dividends. MEC is the main shareholder (59 percent) of Oil Terminal along with the Proprietatea Fund (10 percent) and the investment fund Broadhurst Investment Ltd.
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The Proprietatea Fund submitted a legal complaint against the oil company Oil Terminal, as the latter allegedly has not paid the fund dividends owed for 2005. The Proprietatea Fund requested the annulment of a decision made by Oil Terminal's general shareholders assembly on May 26, through which it approved the payment of the dividends would go to the Ministry of Economy and Commerce (MEC), but only after the latter and the Proprietatea Fund determine a way to share the dividends. MEC is the main shareholder (59 percent) of Oil Terminal along with the Proprietatea Fund (10 percent) and the investment fund Broadhurst Investment Ltd.
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