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United Kingdom : EBRD and Franklin Templeton promotes corporative governance to Romanian companies [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) The European Bank for Reconstruction and Development (EBRD) and fund manager Franklin Templeton, which directs Romania s investment fund Fondul Proprietatea, organized a corporate governance conference in Bucharest. The fund managers attempted to encourage good practices among Romanian state-owned companies, for example responsibility, impartiality, independence and top management integrity. Franklin Templeton prompted of the Emergency Ordinance which controls how corporate governance rules are put into practice at state companies. Greg Konieczny, manager of Fondul Proprietatea said, We hope to see more IPOs for state companies in the coming future, which should significantly support Romania s economy and the state budget . Strong corporate governance rules will make stronger the trust of both foreign and local investors, said Gian Piero Cigna, senior counsel for corporate governance with EBRD. The financial institution has assisted gas producer Romgaz and electricity distributor Electrica to draw up corporate governance action plans in the run up to their respective IPOs, in the previous year. Representatives of state companies for instance Petrom, Nuclearelectrica, Romgaz, CE Oltenia, Romanian Post of Hidroelectrica attended the event. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |