Turkey’s 2010 league champions Bursaspor were one of four European clubs fined Monday and barred from playing in the next Uefa club competition they qualify for over unpaid bills, according to TheNational.ae.
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Fitch placed under monitoring Banca Transilvania ratings
Financial ratings agency Fitch Ratings on Monday placed under monitoring Banca Transilvania ratings for its long-term foreign currency debts, currently situated at ‘BB minus’ and the viability rating at ‘bb minus,’ after the announcement about the takeover of Volksbank Romania, a Fitch press release informs, according to ActMedia.eu.
Read MorePutting Romania on the map: cultural festivals
For several years now, Romania has been a cultural hotspot for the performing arts, film, theatre and music. Looking back over the cultural calendar of 2014, BR highlights the top festivals held around the country, according to Business-Revew.eu.
Read MoreFrench will be the official foreign language of the Romanian 2015 European Youth Capital
Emil Boc, the mayor of Cluj-Napoca city in Romania, and French ambassador Francois Saint Paul, recently signed a protocol according to which French will be the official foreign language of the 2015 European Youth Capital. This means that all the events to be organized next year in connection to this project, will also be communicated in French, reports local Agerpres.
Read MoreRomanian real estate developer Impact borrows EUR 4 mln from Banca Transilvania for residential project
Real estate developer Impact (BVB ticker: IMP) borrowed RON 18 million (EUR 4 million) from local lender Banca Transilvania (TLV), to finance new real estate investments. The loans is for an 18 months period, according to an announcement made by Impact on the Bucharest Stock Exchange (BVB), according to Romania-Insider.com.
Read MoreAXA Agrees To Sell Its Romanian Operations
French insurer Axa SA (AXAHY.PK) has reached an agreement with Certinvest and SIF Transilvania to sell its Life & Savings insurance operations in Romania and exit the Romanian market. As part of the agreement, Certinvest would purchase a 70% stake in AXA’s Romanian division, AXA Life Insurance S.A., whilst SIF Transilvania would acquire the final stake of 30%, according to rttnews.com.
Read MoreInterferences on stage in Cluj-Napocca
The Hungarian Theatre in Cluj-Napocca opened its doors to the fourth edition of the International Theatre Festival “Interferences”, according to Euronews.com.
Read MoreFitch Places Banca Transilvania on Rating Watch Evolving
Fitch Ratings has placed Romania-based Banca Transilvania S.A.’s (BT) ‘BB-‘ Long-term IDR and ‘bb-‘ Viability Rating on Rating Watch Evolving (RWE). A full list of rating actions is at the end of this commentary. The rating action follows the announcement on 10 December that BT intends to acquire Volksbank Romania (VBRO) from current shareholders, Oesterreichische Volksbanken-Aktiengesellschaft (OeVAG:51%; BBB-/RWN), Groupe BPCE (BPCE:24.5%; A/Stable), DZ Bank AG (DZ:16.36%; A+/Stable) and WGZ Bank AG (WGZ:8.14%; A+/Stable), according to Reuters.com.
Read MoreBanca Transilvania Takes OVAG Subsidiary, with EBRD Participating in Deal
The partially state-owned bank group Österreichische Volksbanken AG (ÖVAG) has one problem less, after the lossmaking Romanian unit found a buyer. The deal has been already signed, with Romanian bank Banca Transilvania becoming owner of the Romanian in H1 2015, according to FriedlNews.com.
Read MoreRomanian newspaper links Derby County with Justin Mengolo
Derby County have admitted they will look to do business in the January transfer market and recent reports in Romania indicate Justin Mengolo could be a target, according to hereisthecity.com.
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