Romanian Health Ministry Cut All Funds In Public Healthcare Since Start Of The Year
The Romanian Health Ministry has cut all funding in the country’s public healthcare system since the beginning of the year.
Funding was cut for dental care, transplants and for cancer detection tests.
Therefore, the lives of hundreds of cancer patients are endangered because laboratories can no longer cover the costs incurred by such tests.
Romania is ranked tenth in the European Union by number of cancer patients. Breast, lung and colorectal are among the most common types of cancer and anti-cancer drugs are hard to find on the Romanian market. (Curentul)
Romania Transgaz Raises EUR72M In Secondary Stock Offering
Romanian state-run natural gas transporter Transgaz (TNG.RO) has raised EUR72 million in a secondary public offering of 15% of its shares ended April 16, Minister-delegate for Energy Constantin Nita said Wednesday.
“The sale price was 179 lei (EUR40.88) a share, which means we will collect EUR72 million,” Nita told a news conference.
The price was slightly above the minimum level of RON171 a share announced at the start of the offering. The maximum price was RON230 a share.
Nita said the secondary offering was a “success” and a good starting point for other similar offerings planned by the state.
“The offer was oversubscribed, it was a success,” Nita said. He added foreign investors bought 70% of the available stock.
Transgaz’s secondary offering took place between April 4 and April 16.
Transgaz had an initial public offering of 10% of its shares in November-December 2007, which was priced at RON191.92 a share. The RON226 million offer was oversubscribed nearly 28 times to a record RON6.3 billion. (Curentul)
Moody’s: Banking Sectors In Romania, Hungary, Slovenia Remain Unprofitable In 2013
Banking industries in Romania, Hungary and Slovenia will remain unprofitable in 2013, as owners cut costs to boost capital during the financial crisis in the eurozone, according to Moody’s Investor Service.
Lenders in Romania and Hungary are affected by their reliance on funding from parent banks in Western Europe, Simone Zampa, a senior analyst for Moody’s, said in an interview.
Zampa also said that banks in the Czech Republic, Slovakia and Poland fund themselves mainly with deposits and will keep reporting profits.
The large banking groups in the European Union’s east, including UniCredit, Raiffeisen Bank International and Erste Group Bank, are cutting costs to offset charges on non-performing loans in the region and meet capital requirements. (Curentul)
Romania Forgoes Deadline For Euro Adoption
The new convergence program Romania’s government will send to the European Commission will not state a deadline for the euro adoption, people familiar with the matter told Mediafax Wednesday.
Romania will set a new euro adoption deadline after it has met all real requirements to join the euro zone, the sources said.
In March, Romania’s Prime Minister Victor Ponta said 2015 is no longer a credible target for joining the single currency area, adding the country’s euro adoption process might be finalized sometime near 2020. (Curentul)
Romanian PM Wants Government And Parliament To “Team Up”
Romanian Prime Minister Victor Ponta has called on lawmakers to help build a partnership between the Government and the Parliament when it comes to taking “major decisions.”
Ponta said there is no longer room for cheap political bickering in 2013. (Puterea)
Romanian Government Asked Parliament’s Confidence Vote On Property Restitution Bill
Romania’s Government on Wednesday sought lawmakers’ confidence vote to adopt its new property restitution bill bypassing lengthy parliamentary procedures.
Ponta said Wednesday the new property restitution law would not affect previous tenants of formerly nationalized homes who bought them under a law passed in 1995.
The government has argued the new bill seeks to return property or compensate former owners or their lawful heirs instead of people who own litigation rights over nationalized property. (Puterea)