Oil Price Cut To Impact Several Sectors Of Global Economy
The decrease of oil price by nearly 50% compared with June 2014 will trigger a lower inflation, an increase of the coal price or a lower price for petro-chemical products, according to Florin Hantila, portfolio manager of Romanian investment fund manager Certinvest.
Hantila said that Russian and Norwegian economies will be the most affected by the oil price decrease, while the price of coal, used for electricity production, will increase and prices of oil-derived products will drop.
Another sector advantaged by lower oil costs is that of chemical products, which need a great deal of energy in their production process.
On the other hand, Hantila says this might be a good moment for buying shares in oil and gas companies.(Romania Libera)
European Commission Adopts Operational Programs Technical Assistance, Competitiveness
European Commission adopted Romania’s Operational Programs 2014-2020 “Technical Assistance“, worth EUR251 million, and “Competitiveness“, worth EUR1.58 billion.
Operational Program “Technical Assistance”, with a EUR212 million EU contribution, targets the strengthening of Romania’s administrative capacity to coordinate, develop, and supervise EU structural and investment funds.
Operational Program “Competitiveness”, with a EUR1.32 billion EU contribution, targets the increase of economic competitiveness. (Adevarul)
Health Ministry Mulls Increasing Number Of Organ Transplant Centers
Romanian Health Ministry plans to increase the number of organ transplant centers as of 2015, and also set up four cell and tissue banks for which authorities have already completed feasibility studies.
Health Minister Nicolae Banicioiu also stated that they will target the increase of the number of transplanted organs, adding that their number rose by 10% in 2014.
According to Banicioiu, Health Ministry and National Transplant Agency registered important successes in the transplant domain in 2014. (Adevarul)
Antitrust Watchdog Slaps Several Oil Drilling Companies With EUR3M Fine
Romanian antitrust authorities have fined oil drilling companies Dafora Medias, Upetrom 1 Mai, Foraj Sonde Craiova and Foraj Sonde Targu-Mures a total of EUR3 million for rigging auctions for drilling works held by Romgaz Medias.
The antitrust authority started its investigation in 2010 and completed it in December this year.
The fines range from EUR300,000 (Upetrom) and EUR900,000 (Dafora), Mediafax sources said.
Contacted by MEDIAFAX, Upetrom group spokesman Radu Petrescu said Upetrom 1 Mai has not been notified of any fine and the company manufactures oil drilling equipment and does not have oil drilling operations. (Puterea)
Health Ministry: Vice Tax Should Be Annually Increased
Health Ministry considers that vice tax for tobacco and alcohol should be annually increased as the cigarette consumption dropped, affecting the receipts from health contribution, while expenses with smokers’ diseases are constantly increasing.
The higher costs with the diagnostic and treatment of diseases caused by smoking are generated both by the discovery of new methods and by the reaching of the 45-year threshold by the population born between 1967 and 1969, according to a document of the ministry. (Romania Libera)