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Ascent Group
Business Newsletter
December 2008
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Ascent Group. Business Consulting
Ascent Group. Business Consulting

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We reached the end of this year, and December was not al all poor in news, both in terms of legislative amendments and changes in the business environment. The Ascent Group's consultants prepared for you a selection of the latest news, which we hope you’ll find useful and interesting.
 


Editorial top  

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Already for many years now I handle negotiations with trade unions. Especially when related to renegotiations of collective labor agreements, but in many cases throughout the year. I had the opportunity to meet many representatives of trade unions and to negotiate with them. read more»

 


Legal & Fiscal top  

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Starting with the 1st of December 2008, three types of contribution owed by the employers to the state budget have been diminished as follows: read more»

 

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After long delays, on the 10 th of November 2008 was finally published the Law 260/2008 regarding the compulsory insurance of real estate against earthquakes, land slips or floods.

This Law will be aplied within 120 days of publishing it in Official Gazette of Romania, respectively at the 10th of March 2009.

The Law refers not only to obligativity of houses' insurance by natural persons but it stipulates provisions also for houses which are owned by legal entities. read more»

 

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According to a bill that is to be introduced within the Romanian Parliament, starting with next year the employees might receive vouchers for holiday from the employer. The maximum annual value that might be granted will represent the equivalent of six minimum gross wages per economy. read more»

 


Corporate News top  

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Ascent Group has constantly developed in the last years high quality training programs. As a result of the feedback received from the customers and also of the recurrent demands from the actual and potential customers, we decided to start some open trainings in all the countries where we have offices: Romania (Bucharest and Arad), Republic of Moldova (Chişinău), Bulgaria (Sofia), Serbia (Belgrade). read more»

 

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In November 2008 Ascent Group signed in Padova a strategic agreement with Eurointerim Spa. Based on this agreement Ascent Group will represent Eurointerim in Romania, Bulgaria, Serbia and the Republic of Moldova for the whole typology of services offered by Ascent Group. read more»

 

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Cosmin Galu is the managing partner of Ascent Group in Serbia.

Cosmin graduated the Law Faculty within Vasile Goldis University in Arad. His studies also include numerous scholarships and specializations, such as „Political Management” with the „National Democratic Institute” in Washington, USA, „Crisis Management” through the Konrad Adenauer Foundation - Germany, „Conflict Management” with the IRI – International Republican Institute, in the USA. read more»

 

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Ascent Group Romania has a new financial manager. Liviu Tulcan graduated the Faculty of Mechanics “Traian Vuia” Timişoara and the Faculty of Engineering and Economy within the University Aurel Vlaicu from Arad, with a degree in Finance and Banking.

He’s professional experience includes 10 years of activity in engineering within a Research and Projecting Institute and 10 years of experience in finance and accounting, managing the financial and accounting activity in Romania of some prestigious multinational companies. read more»

 

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Nicolae Enache is the new Client Relationship Manager of OCRA Romania. Nicolae graduated the Faculty of Marketing within the Artifex University Bucharest, respectively a Master program in Communication and Public Relationship within the National School for Political and Administrative Sciences “David Ogilvy” Bucureşti, Faculty of Communication and Public Relationship. Over the last years, Nicolae also graduated various courses on management and quality assurance, both in Romania and abroad. read more»

 


Business Environment top  

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Starting 15th of December 2008 the value added tax rate decrease from 19% at 5% for dwellings transactions with a maximum value of 100 000 Euro.

The measures intends to unblock the real estate market and has a double target: to prevent spreading the effects of economic crisis and as social protection measure.

The new 5 % of VAT fated to relaunch the construction and real estate sector but is a difficult process without a sustained lending process, a first good step might be the restart of financing process by banks. read more»

 

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The evaluation for oil barrel price made by Goldman Sachs analysts is very optimistic - the oil price could decrease till 30 dollars in the first quarter of the next year.

The orders decrease as a result of the global crisis and the recession from some very industrialized states are the main reasons of this evaluation.

Also, it's possible that OPEC will reduce at the beginning of the next year the production with a million barrels/day over the expected decrease of this month. read more»

 

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The state has decided to increase the capital of the CEC Bank with 900 million lei and Eximbank and the Guarantee Loans for SMEs want to fully ensure the loans for small business offered by commercial banks in order to relaunch the process of financing for SMEs .
The trend to generate new products for small and medium enterprises is a reason of joy for companies. These loans are specially offered to finance current business, not for major investments in such cases banks preferring to maintain a strict control. read more»

 

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The Administration of Timpuri Noi society that owns a 5 hectares plot of land in the center of Bucharest asked last week the approval of the shareholders to obtain finances either by selling plots, either by accessing of loans from institutiuons or from natural persons. read more»

 


Business Oportunities top  

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Ministry of Environment and Sustainable Development (MMDD) launches the second selection session for projects in the field of nature protection, to provide non refundable financial assistance in the Sectoral Operational Program „Environment”, namely Priority Axis 4 - „Implementation of Appropriate Management Systems for Protection of the Nature”. read more»

 


Partners top  

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Big corporates are often seen as distant and less caring than small family-businesses and medium sized enterprises (SMEs). An employee may never even meet the Managing Director of the company let alone to be directly motivated by him. The challenge for a bigger organisation then seems to be in communicating the company vision - “raison d’être”, and values from the top-management to all levels of employees, create trust, inspire and motivate all employees to work for the common goal. read more»

 

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The magazine Consulting Review recently launched the new version of the website. Starting with November 2008 you can read most of the articles published in the magazine also on the website, at: www.consultingreview.ro. read more»

 


Analysis & Opinion top  

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One of most important obligations of the employer towards its employees is to pay them. Fulfilling the duties assumed, means for most employers one of the biggest expenses related to their activity. Salaries and their related costs (contributions to health, unemployment, pensions, etc.) usually add up to approximately 60% of total operating costs of a large-scale enterprise. read more»

 

 

In this edition you can read:
Trade unions and crisis, or crisis of trade unionism?
Starting December 2008 the employers’ contributions have diminished
Legal entities are obliged to conclude real estate insurances
Beginning with 2009 holiday tickets might be introduced
Ascent Group launches new topics in open training
Ascent Group has signed a strategic agreement with Eurointerim.
Cosmin Galu is the managing partner of Ascent Group in Serbia
Liviu Tulcan is the new financial manager of Ascent Group Romania
Nicolae Enache is the new Client Relationship Manager of OCRA Romania
The new 5% value added tax rate, a chance for real estate launch
30 dollars per oil barrel at the beginning at the next year, according to Goldman Sachs
CEC Bank and Eximbank want to “unfroze” the loans
Timpuri Noi is looking for financiers
Ministry of Environment launching a new selection of projects în the field of nature
Organisational trustworthiness – a matter of survival
Consulting Review has launched the new website
Remuneration systems


Providing local solutions for your regional development in Eastern Europe.
 
Bucharest Office
Bucharest, Romania
str. Vespasian 34, S1
Postal code: 010924
tel: +40-21-5693670
fax: +40-21-3121261
Arad Office
Arad, Romania
George Cosbuc 12a
tel: +40-257-251.881
tel: +40-357-405.487
fax: +40-357-405.486
Chisinau Office
Chisinau, Moldova
Postal code: MD-2004
Anatol Corobceanu, 15A
tel: +373-22.23.84.95
fax: +373-22.23.29.50
Sofia Office
Sofia, Bulgaria
Tsanko Tserkovski 63
tel.: +359.2.971.1275
fax: +359.2.971.1275
Limassol Office
Limassol, Cyprus
Arch. Makarios Av, 212
SETA Court,
Flat 9, 3030
tel.: +357-25-347.265

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