Economic opportunities for the exploitation of copper ore in the Romanian Carpathians

This paper is a synthetic analysis of the Romanian approach of an important underground resource, namely copper ore deposits. Certain elements of the international context have been introduced, highlighting the appreciation of the price of copper, as a result of increased demand from countries with emerging economies and speculative transactions on certain markets. The Romanian government, given that it can not provide funding to modernize the mining companies, is forced to choose as a solution to privatize them. The most emblematic case is the one of the company „Cupru Min”, which is based on the exploitation of ore from the Western Carpathians (Rosia Poieni). For this reason, many of our references relate to data and information on this company

Investment gold: exemption from tax (VAT) in the Romanian fiscal system

“Gold”, the precious metal, does not deteriorate in time, as is the case with other metals; gold has a high value per volume unit, meaning that a very small quantity of it has a relatively high purchasing power. This argument, along with other such advantages identified throughout history, have made the purchase of gold one of the best methods to preserve wealth in time. Even today, investment gold is of particular interest for certain customers/operators, as the authenticity of bullion gold bars is rather easily ascertained, due to the applied markings and the related certificates. Our approach in the present paper mainly relates to the regulatory framework of gold operations as set by state governments, particularly highlighting the specific taxation regulations – their exemption from Value Added Tax. However, before getting into such details, we will first focus on the development of the above mentioned transactions as well as on certain price related issues, etc

Trendovi radne snage i produktivnosti u Rumunjskoj čeličnoj industriji

When dealing with the issue of increased labour productivity in steel companies, as well as in any other economic sector, managers are faced with a difficult choice – investing in technologies and competencies or diminishing the number of jobs. The economic literature and statistical data available on the Romanian steel industry has revealed that the second option has often been the case in the past 10 years or so. Nevertheless, in order to reach the economic indicators of Westerns countries, the main Romanian steel plants should decrease the number of employees from 18 500 to 8 400. We argue that the accelerated production after the crisis would also entail increased productivity, but the lack of technological advancement and significant investments in competencies will not allow economic efficiency to exceed the average of EU developed member states.Kad je riječ o većoj produktivnosti radne snage u poduzećima čelične industrije, kao i drugih sektora gospodarstva, menadžeri su suočeni s jednim teškim izborom – investirati u tehnologije i kvalificiranost radne snage ili smanjiti broj radnih mjesta. Raspoloživa ekonomska literatura i statistički podaci o rumunjskoj čeličnoj industriji pokazuju da je ova druga opcija često prevladala u posljednjih 10 i više godina. Pa ipak, da bi dosegle gospodarske pokazatelje zapadnih zemalja, glavne rumunjske čeličane trebale bi smanjiti broj zaposlenih od 18.500 na 8.400. Smatramo da bi ubrzana proizvodnja nakon krize ujedno trebala biti popraćena povećanom produktivnošću, ali zbog nedostatka tehnološkog napretka i značajnih ulaganja u kvalificiranost neće biti moguće da ekonomska učinkovitost premaši prosjek razvijenih članica EU

Ekonomska analiza razvoja rumunjske crne metalurgije

The ferrous metallurgy represents a traditional occupation, being extremely important for the national economy. Romania has gone through all the stages foreseen for the restructuring of this industry in compliance with the provisions of the European Council’s Decision (1999/582/EC) concerning the partnership for the EU adherence, which included a special chapter on ferrous metallurgy, the provisions of the Protocol no. 2 (ECSC), as well as with other significant normative acts subsequently enacted. Following the performed restructuring – privatizations, state allowances, liquidations, re-technologization – the activity of this sector has developed, still being under the potential of the Romanian metallurgic industry. Nowadays, the disadvantages relating to energy intensity and the increased need for imported raw materials are doubled by the difficulties generated by the global crisis.Crna metalurgija je tradicionalna djelatnost i veoma je značajna za nacionalno gospodarstvo. Rumunjska je prošla kroz sve faze predviđene za preustroj te industrije sukladno odredbama Odluke Europskog vijeća (1999/582/EZ) u svezi s partnerstvom za zajedništvo EU, što je obuhvaćalo i posebno poglavlje o crnoj metalurgiji, te sukladno odredbama Protokola br. 2 (EZUČ – Europska zajednica za ugljen i čelik) kao i drugim značajnim naknadno donesenim normativnim aktima, Nakon obavljena preustroja – privatizacije, državnih subvencija, likvidacija, retehnologizacije, razvila se djelatnost ove grane, ali još uvijek ispod mogućnosti rumunjske metalurške industrije. Danas su se zbog teškoća generiranih od globalne krize udvostručile nepovoljne okolnosti koje se odnose na energijski intenzivne djelatnosti i povećanu potrebu za sirovinama

Gospodarski učinak zabrane državne pomoći rumunjskoj čeličnoj industriji

The adjustment of the Romanian steel industry restructuring programmes to the requirements of the EU and the implementation of such programmes has supported the development and growth of Romanian steel companies.The total amount of State aid allowed in Romania has been of € 1,2 billion and was mainly awarded for financial restructuring and to a smaller extent for exemption from VAT and corporation tax. The EC has constantly monitored the Romanian steel industry and the way in which State aid has been granted by the Romanian government. As a consequence of the restructuring process– whit entry into force the EU Association Agreement was enforced – several obsolescent plants have been shut down because of physical and moral wear and tear, and the total number steelworkers has decreased significantly.Prilagodba programa preustroja rumunjske čelične industrije zahtjevima Europske unije i provedba tih programa pripomogle su razvitku i rastu rumunjskih poduzeća djelatnih u čeličnoj industriji. Državna pomoć odobrena u Rumunjskoj ukupno je iznosila 1,2 milijarde US dolara i uglavnom se dodjeljivala za financijski preustroj, a u manjoj mjeri za izuzeće od PDV-a i poreza na dobit. EK je stalno pratila rumunjsku čeličnu industriju i način na koji je rumunjska vlada dodjeljivala državna pomoć. Kao posljedak procesa preustroja – stupanjem na snagu Sporazuma o pridruživanju EU – zatvoreno je nekoliko zastarjelih tvornica zbog istrošenosti te je broj radnika u čeličnoj industriji značajno smanjen

Excise levying on gold products on the Romanian territory

As regards the trade operations with gold products, the tax regime is rather special. The current paper tackles the most significant aspects of excise levying of this products/jewels type in the Romanian system. The focus is on certain framework elements regarding the fiscal status of the operator with gold products. The study relies on the European and national regulations but it also refers to other works which highlight similar problems

Financijska revizija poduzeća djelatnih u metaloprerađivačkoj industriji

In light of the effects of the economic-financial crisis and of the numerous changes occurring both on a European and a global level and altering the environment of the metalworking sector, the aim of the present paper is to focus on the specific alterations performed in the audit of the economic and financial activity and of the financial statements of each entity under consideration. Moreover, high quality audit is essential, especially in light of the numerous cases of fraud and corruption that have been documented in the past few years – occurrences we make reference to – and involving companies operating in this particular sector.U svjetlu posljedica gospodarsko-financijske krize i mnogih promjena kako u Europi tako i na globalnoj razini, čime se promijenilo i okružje metaloprerađivačkog sektora, cilj je ovog priloga osvrnuti se na specifične promjene izvršene u reviziji gospodarsko-financijske aktivnosti i financijskih izvješća svakog razmatranog subjekta. Visokokvalitetna revizija od bitne je važnosti, posebice u svjetlu brojnih slučajeva prijevare i korupcije zabilježenih u proteklih nekoliko godina – o čemu vodimo evidenciju – u koje su bile umiješane tvrtke djelatne u konkretno ovome sektoru

Excise levying on gold products on the Romanian territory

As regards the trade operations with gold products, the tax regime is rather special. The current paper tackles the most significant aspects of excise levying of this products/jewels type in the Romanian system. The focus is on certain framework elements regarding the fiscal status of the operator with gold products. The study relies on the European and national regulations but it also refers to other works which highlight similar problems

High order Fuchsian equations for the square lattice Ising model: χ(6)\chi^{(6)}

This paper deals with $\tilde{\chi}^{(6)}$, the six-particle contribution to the magnetic susceptibility of the square lattice Ising model. We have generated, modulo a prime, series coefficients for $\tilde{\chi}^{(6)}$. The length of the series is sufficient to produce the corresponding Fuchsian linear differential equation (modulo a prime). We obtain the Fuchsian linear differential equation that annihilates the "depleted" series $\Phi^{(6)}=\tilde{\chi}^{(6)} - {2 \over 3} \tilde{\chi}^{(4)} + {2 \over 45} \tilde{\chi}^{(2)}$. The factorization of the corresponding differential operator is performed using a method of factorization modulo a prime introduced in a previous paper. The "depleted" differential operator is shown to have a structure similar to the corresponding operator for $\tilde{\chi}^{(5)}$. It splits into factors of smaller orders, with the left-most factor of order six being equivalent to the symmetric fifth power of the linear differential operator corresponding to the elliptic integral $E$. The right-most factor has a direct sum structure, and using series calculated modulo several primes, all the factors in the direct sum have been reconstructed in exact arithmetics.Comment: 23 page