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Romania – Factors to Watch on June 25

June 26, 2010 By vani Leave a Comment

June 25 (Reuters) – Here are news stories, press reports and events to watch which may affect Romanian financial markets on Friday.

Energy

ROMANIA TOP COURT DELAYS DECISION ON PAY CUTS

Romania’s top court suspended debate on the government’s drastic cuts in public spending, demanded by the IMF as a condition for resuming loans, and may rule on the austerity measures when it meets again on Friday.

[ID:nLDE65N1Q6]

GERMAN FOREIGN MINISTER IN ROMANIA

German Foreign Minister Guido Westerwelle is on a one-day visit to Romania. He is expected to meet President Traian Basescu and Foreign Minister Teodor Baconschi.

PROTESTS

Trade unions plan a rally with up to 4,000 people in front of the president’s headquarters on Friday, protesting against the government’s IMF-backed austerity plan and asking the president not to approve the laws that are now debated by the constitutional court.

Agerpres

ROMANIA M3 MONEY SUPPLY UP 1.0 PCT M/M IN MAY

For a table, double-click [ID:nLDE65N0JF]

RETAIL

Swiss clothes retailer H&M plans to open its first store in Romanian in the first half of 2011.

Ziarul Financiar, Page 1

FONDUL PROPRIETATEA

The listing of the state-owned investment fund Fondul Proprietatea on the Bucharest bourse could happen in the second half of this year, the fund’s head Ionut Popescu told daily Evenimentul Zilei.

The statement comes after the parliament approved some regulations related to the organization of the fund this week.

Evenimentul Zilei, Page 10

EU DEVELOPMENT COMMISSIONER

EU Development Commissioner Andris Piebalgs is expected to meet Finance Minister Sebastian Vladescu and Economy Minister Adreian Videanu of Friday, during his official visit to Romania.

Agerpres

NOTE- For a diary of forthcoming Romanian events, double

click [RO/DIARY], and a calendar of east European economic indicators, see [CONV/DIARY].

For other related news, double click on: ————————————————————— Romania Market Debt [RO-DBT] Romanian forex [RO-FRX] Romania Market Report [ROL/] Romanian money [RO-M] Emerging Market Debt [EMRG/DBT] Emerging forex [EMRG/FRX] All Emerging Markets news [EMRG] CEE indicators [CONV/DIARY] All East Europe News [EEU] E.Europe equities [.CEE] TOP NEWS — Emerging markets [TOP/EMRG] TOP NEWS — Convergence watch [TOP/EAST] Romanian indicators [RO/ECI] Main page of Reuters poll —————————————————————

Filed Under: International News Tagged With: andris piebalgs, Austerity Measures, Constitutional Court, Court Delays, Development Commissioner, Drastic Cuts, economic indicators, Economy Minister, Finance Minister, Foreign Minister, Guido Westerwelle, Investment Fund, Ionut Popescu, money supply, public spending, reuters, Romanian Events, Sebastian Vladescu, trade unions, Traian Basescu

Major reshuffle of officials in J and K

August 30, 2009 By admin Leave a Comment

Srinagar, Aug 30 (ANI): In a major administrative reshuffle, Jammu and Kashmir Government has transferred 26 senior officers, including 12 IAS officers.

The decision to transfer the officers was taken on Saturday evening at a meeting of the state Cabinet chaired by Chief Minister Omar Abdullah.

A spokesman of the State Government released the details of the cabinet decision to media in a press conference on Sunday.

The cabinet decided to appoint a woman officer Naseema Lankar, as first Divisional Commissioner in Kashmir. She will replace Masood Samoon, who is retiring from the service on Monday.

B.B.Vyas, who was Principal Secretary to the state Governor, has been made Commissioner Secretary of Planning and Development. He will also hold the additional responsibility of Chief Executive Officer of Economic Reconstruction Agency.

Pramodh Jain, Commissioner Secretary of Social Welfare has been transferred to Higher Education Department in the same capacity.

Tashi Dorjee, Joint Financial Commissioner of Agrarian Reforms has been given the additional charge of Secretary, Home Department.

Deputy Commissioner of Poonch, Mohammad Afzal Bhat, has been moved to head the Pulwama district. He will replace Ishtiyaq Ahmad Ashai, who has been made additional Commissioner of Kashmir.

Kuldip Lal Khajuria, Additional District Development Commissioner, Samba has been posted as Deputy Commissioner, Poonch. (ANI)

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Drought-hit farmers of Jharkhand village migrate in search of jobs

August 25, 2009 By admin Leave a Comment

Nakta village (Jharkhand), Aug 25 (ANI): Farmers in drought-hit Nakta village of Jharkhand are forced to migrate to cities in search of jobs as they are left with damaged crops due to prolonged drought.

“Our paddy and corn crop have been damaged due to drought. Some of us could not sow paddy in time. Our children are dying of hunger. We don’t have any work here. In such a situation won’t we look for a job elsewhere? That’s why we are migrating,” said Maharaj Singh, a villager.

The villagers, mainly women, children and elderly, who are left behind in the village, are surviving on green leaves, wild edible roots and nuts.

Some of the villagers admitted that authorities did come to the village to distribute free grains to those living below the poverty line (BPL), but they complained that most of them did not get grains, as they did not have the BPL cards.

“We don’t have money. We eat once in three days. We are eating wild greens, edible roots and nuts,” said Puniya Devi, a villager.

The village houses 200 people and only 20 people have the BPL cards. Most of the villagers sell woods for their living, apart from farming. But the villagers say selling wood is not enough and they need employment to earn regular income.

In the absence of any work at the village level, the farmers are going to towns and cities to look for odd jobs.

However, government officials say that the villagers are being provided with 100 days work under the NAREGA scheme (National Rural Employment Guarantee Act).

Sudhanshu Bhushan Ram, Deputy Development Commissioner, Latehar, said the villagers are being provided with all the necessary support and they are migrating out of their choice.

“We are giving employment and issuing job cards to them. They are being paid weekly and in spite of that if people migrate elsewhere on their will how could you stop that?” said Ram. By Girija Shankar Ojha (ANI)

Filed Under: International News Tagged With: Bhushan, bpl, corn crop, Development Commissioner, drought, edible roots, grains, green leaves, Job Cards, Living Below The Poverty Line, maharaj, necessary support, odd jobs, paddy, shankar, Sudhanshu, towns and cities, village houses, villager, wild greens

Bangalore bonds at first wine festival

July 11, 2009 By admin Leave a Comment

Bangalore, July 10 (IANS) It was the perfect setting – the salubrious locales of Lalbagh Botanical Garden, accompanied by pleasant weather – the city could not have asked for more to kick-start its first wine festival Friday.
Connoisseurs got a chance to sample white, red and rose wines brewed in the state at the inaugural day of the three-day colourful fiesta, conceptualised by the Karnataka Wine Board on the lines of popular wine festivals in vogue in developed countries.

The festival was inaugurated by Horticulture Minister Umesh V. Katti and legislator D. Hemachandra Sagar.

“Wine is a healthy drink, if enjoyed in a moderate manner. Wine has very little alcohol percentage. It leaves drinkers with no hangover,” said L. Shantakumari Sunder, development commissioner and chairperson of the wine board.

Along with free tasting of wine, a seminar was part of the first day of the festival to educate farmers, industrialists and public about wine cultivation, production and contract farming.

Opportunities available in the state were also highlighted at the fiesta.

Wine lovers thronged the stalls of various wineries.

“We’re getting good response from the crowds. Visitors are very adventurous and want to taste different kinds of wines,” said Sunil Doshi, manning the stall of Kinvah, a winery based in Nandi Valley.

Added Jayakumar, senior marketing executive at Naka winery in Bangalore: “The festival is an eye-opener for wine makers, fruit cultivators and wine lovers.”

The visitors were clearly an excited lot.

“I accidentally bumped into the festival. But it’s a pleasant surprise and I am enjoying every glass of wine,” said Sussane D’Souza, a tourist from California.

IT professional Bittu Nair found it “simply fabulous”.

“It’s beyond my imagination to see large number of people getting an opportunity to enjoy wine under the sky,” Nair said.

Karnataka has 600 acres under grape cultivation, with Nandi Valley in Chikkaballapur and Krishna Valley in Bijapur with the highest cultivation.

The state also produces approximately 18 lakh litres of wine annually, second only to Maharashtra’s one crore litres. In 2008-09, Karnataka exported around three lakh litres to the rest of the country and abroad.

The government recently amended the Karnataka Excise (Lease of Rights to Retail Vend of Wine) Rules, 2008, to facilitate setting up of wine boutiques.

Shopping malls, super markets and multiplexes with not less than 15,000 square feet floor area will be allowed to have wine boutiques.

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Brisk business anticipated ahead of Puri Jagannath Yatra

June 23, 2009 By admin 1 Comment

Puri, June 23 (ANI): Ahead of the world famous Lord Jagannath Rath Yatra or, chariot festival, which witnesses convergence of innumerous devotees from all around, local shopkeepers here anticipate a brisk business.

Shop owners and locals anticipate good profits during the annual chariot festival as they expect huge turnover of tourists this year as well.

Besides local shopkeepers, hoteliers also fetch some good earnings during the festival.

“We do good business during rath yatra (chariot festival). Earlier we used to earn around three thousand but now we earn up to rupees ten thousand,” said Manoj Kumar, a local shopkeeper.

The chariot festival will begin on Wednesday (June 24. It is marked by an elaborate procession accompanied by great fanfare.

Amid tight security, the festival is celebrated by pulling the chariots of Lord Jagannath, along with sister Subhadra and brother Balram from the temple, through the city’s decorated streets.

Hundreds of thousands of people converge here from all over the world to participate in the massive procession.

Authorities said that preparations have been in full swing for the festival and arrangements have been made for the benefit of the pilgrims.

“Hotel industry plays a major role in this Rath yatra (chariot festival) because they accommodate most of the tourists. This year also we are taking same steps as earlier,” said Ashok Meena, Revenue Development Commissioner (RDC).

The Yatra is a round trip from the main temple to another nearby temple where the idols of the deities rest for seven days before their return to the main temple.

The Jagannath temple, about 60 kilometres from Bhubaneswar, is one of the holiest places for the Hindus in India. By Sarada Lahangir (ANI)

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Romania – Factors to Watch on June 25

Drought-hit farmers of Jharkhand village migrate in search of jobs

Bangalore bonds at first wine festival

Brisk business anticipated ahead of Puri Jagannath Yatra

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