Splaiul Unirii, Nr. 16 Cladirea Muntenia Business Center, Etaj 7 Bucureşti, Sector 4
	+40-372-07.43.98 +40-372-07.43.89 +40-372-07.43.88 +40-372-07.42.06 +40-740-40.60.00
	+40-344-80.13.03 +40-31-405.75.73
www.ars.ro

Ars Advertising is a full service advertising agency specialized in institutional communication. This major reflects the agency ability to design, develop and implement the most efficient strategic and creative solution, always adapted to the specified communication model.With it's 11 years of experiences on the market, Ars Advertising offers a whole range of specific services, such as: Strategy, Creation, Production and Media Planning & Buying. Our experience and market knowledge recommends us for creating Corporate & Brand IDs, helping our clients to promote their products and services through specialized trade shows and special events, sales promotion, market positioning and consumer-informing campaigns. The entire world created by Ars Advertising has a unique pattern, a clear signature that shows directly the high standard of institutional communication.

ISO 9001

Board members

GABRIEL ŞTEFĂNESCU President

Top management

GABRIEL ŞTEFĂNESCU President

AMALIA POPEANGA PR Specialist

Contact persons

AMALIA POPEANGA PR Specialist

4,200,000 EURO (2008)

Private-owned - 100 %

Acon Audit

20

TAX & LEGAL NEWS

19 February 2010 Mazars Tax Alert: Norms for the Certification of the Annual Tax Returns Issued by the Chamber of Tax Consultants 16 February 2010 Mazars Tax Alert: The Inflation Index Used for the Restatement of the Anticipatory Payments 11 February 2010 Mazars Tax Alert: 2010 State Budget, Social Security Budget Laws and National Tax Agency Orders 1 February 2010 Mazars Legislative News: Amendments on preparation and filling-in of Employees’ General Register 21 January 2010 Mazars Tax Alert: New tax procedures and forms FR & GE Versions/ Archive

16 March 2010 RAIFFEISEN BANK S.A. Focus FX Exchange Rate Forecast Sentiment on RON seems to be remaining broadly positive and we expect the leu to remain roughly unchanged in the period ahead, as the new stronger level is in line with improving fundamentals. read more ... 12 March 2010 RAIFFEISEN BANK S.A. CEE Bond Markets Outlook With funds raised now on the international market, the financing needs of the government will decline and demand on the local market will remain slack in the period ahead. read more ... 12 March 2010 RAIFFEISEN BANK S.A. Emerging Markets Report În februarie, a crescut semnificativ volatilitatea cursurilor în cadrul burselor dezvoltate. Incertitudinea legată de sustenabilitatea relansării economice în Statele Unite şi Europa a crescut. read more ... 9 March 2010 RAIFFEISEN BANK S.A. Focus FX Currency Forecast Overnight interest rates are trading close to the level of the interest paid by the central bank on the deposit facility (3%), while the1M ROBOR is trading close to 6% (1 percentage point below the level of the monetary policy rate). read more ... Bond Markets Outlook Focus FX Currency Forecast Bond Markets Outlook Taxation in Romania Focus FX Bond Markets Outlook