180827 RO.A&D 312

#312

ZI DE ZI luni, 27 august 2018

BULETIN INFORMATIV GRATUIT DEDICAT DECIDENȚILOR DIN INDUSTRIA DE AVIAȚIE ȘI CEA DE APĂRARE DIN ROMÂNIA

Ministrul Fifor la Vaslui - declarații despre programele corvetelor și submarinelor pg. 18

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distribuitor HERALD INSIGHTS

http://www.competitiveintelligence.ro

luni, 27 august 2018

semn

Cap. AERONAUTICĂ .................................................................6 BVB - industria aeronautică .....................................................6 AVIOANE CRAIOVA SA: Raport semestrial 2018...................7 Adunarea Generală a Acționarilor: ........................................7 Consiliul de Administrație ......................................................7 Administratorii societății: .......................................................7 Administrator special .............................................................7 Conducere executivă ...............................................................7 Parteneri................................................................................7 Rezultate financiare ..............................................................7 ROMAERO SA ........................................................................8 Hotarari AGEA 23.08.2018 ...................................................8 Doina Variu şi Alexandru Buşcu ...........................................8 Noutati despre F 16 .................................................................9 Proiectul de cercetare va dezvolta tehnologia automatizată de asamblare și inspecție pentru structurile de aviație .................9 Pentagon Contract Announcement........................................10 Insights ..................................................................................10 AIRBUS: Raport anual 2017 - prezentarea Companiei (43 început #270) .........................................................................12 Insights ..................................................................................12 Cap. ARME DE FOC și MUNIȚIE ............................................13 AK… numarul 308 .................................................................13 The story of M4 Carbine (16, început #297) ..........................13 Insights ..................................................................................14 Cap. ITC ...................................................................................14 ES-5080 - Digital Receiver Based ELINT/ESM System ........14 Page 3 of 38

Cap. NAVAL .............................................................................16 Olandezi numiţi în Consiliul de Administraţie al Şantierului Naval din Mangalia, preluat de Damen..................................17 Statul român pregătește decizia de a cumpăra cele patru corvete de 1,6 miliarde de euro .............................................17 Mihai Fifor: Derulăm procedura de achiziţie pentru cele patru corvete multifuncţionale .........................................................18 Forţele Navale Române doresc dotarea cu 3 submarine construite de un şantier naval din România...........................18 Insights ..................................................................................18 Fifor: Forțele Navale, pregătiri pentru construcția de submarine ..............................................................................19 România, pregătită pentru construcția de submarine ............19 Cap. RACHETE ........................................................................20 Programul de înzestrare „Sistem de instalații mobile de lansare rachete antinavă”, aprobat în ședința Guvernului României ................................................................................22 DeepStrike Missile – HIMARS ...............................................22 Insights ..................................................................................23 Cap. VEHICULE BLINDATE ....................................................23 Consortium Iveco-Oto Melara (CIO) semnează un contract cu Ministerul Apărării italian pentru 10 vehicule blindate Centauro II .............................................................................................23 Australia Opens Tender for 450 Infantry Fighting Vehicles ...24 Un nou buldozer blindat UVZ B10M2S pentru armata rusă ..25 Cap. EUROPA ..........................................................................26 Președintele Radev comentează factorii de risc cu care se confruntă forțele aeriene bulgare, sectorul asigurărilor .........26 Cap. DECIZIONAL ...................................................................27 Marius Constantin Borănescu, ambasador în Africa de Sud și Madagascar ...........................................................................28 Cap. FINANȚE..........................................................................28 Cursul de schimb: euro, liră sterlină, USD, gr. aur ................28 Page 4 of 38

Dividendele General Dynamics: la ce concluzii putem ajunge (6, început cu #307) ...............................................................29 Cap. MacroE.............................................................................30 Agenția Moody’s reconfirmă ratingul de țară al României cu perspectivă stabilă .................................................................30 Rating Action: Moody's affirms Romania's Baa3 issuer ratings; outlook stable .........................................................31 Stabilitatea macroeconomică - un pas în direcția reputației diplomatice și de securitate (12, a început cu #296) .............34 III. Evoluția inflației și politica monetară ..............................34 Cap. EVENIMENTE..................................................................35 Târguri, conferințe A&D: rachete ...........................................35 Cap. Etica în afaceri .................................................................35 Money laundering ..................................................................35 Cap. DIVERSE .........................................................................37 The latest changes to the ISO ...............................................37 ISO/IEC 27001:2013/Cor 1:2014 ........................................37 ISO/IEC 27001:2013/Cor 2:2015 ........................................37

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distribuitor HERALD INSIGHTS

http://www.competitiveintelligence.ro

Cap. AERONAUTICĂ BVB - industria aeronautică Herald Insights AEROSTAR Bacău (ARS), AVIOANE Craiova (AVIO), IAR Ghimbav (IARV), Romaero (RORX), Turbomecanica (TBM): Valoare totală de piaţă: 259,69 milioane euro Valoarea totală de piață BVB ind aviație 290.00 280.00 270.00 260.00 250.00 MIL EUR0

240.00

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200.00 180.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00

31-12-18

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220.00

mil. euro

ARS AVIO IARV RORX

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31-12-18

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TBM

AVIOANE CRAIOVA SA: Raport semestrial 2018 http://www.bvb.ro/FinancialInstruments/Details/FinancialInstrumentsDetails.aspx?s= AVIO

Bursa de Valori Bucureşti 24.08.2018 9:03:00

Adunarea Generală a Acționarilor: Ministerul Economiei prin ȘANDRU ION, ȘARAGEA Adrian Marian

Consiliul de Administrație BĂDOI Daniel Mircea - președinte CA până la 20.02.2018 ILIE Virgil Daniel - Președintele Consiliului de Administrație din 20.02.2018 Candel Aurora Elena - membru până la 25.04.2018 BUCICĂ Angel Marius - membru din 21.12.2017 NEDELESCU Gheorghe - membru din 21.12.2017 MIHAI Marius - membru din 21.12.2017 ANGHEL Ruxandra Rodica - membru din 25.04.2018

Administratorii societății: ILIE Virgil Daniel - Președintele Consiliului de Administrație ANGHEL Ruxandra Rodica BUCICĂ Angel Marius NEDELESCU Gheorghe MIHAI Marius

Administrator special MELEȘCANU Viki Viorica, din 29.03.2013

Conducere executivă POPIC Mișa BIRDU Ioan DUMITRESCU Georgeta CAPP Mihaela TICĂ Ion

Director General Inginer șef Director Economic până la 30.03.2018 Director Economic de la 07.05.2018 Șef serviciu management calitate

Parteneri AVIOANE CRAIOVA vinde la:

      

ELBIT SYSTEMS ISRAEL ISRAEL AEROSPACE MT AEROSPACE DEDALUS TECH SRL INCAS UM 01836 Otopeni AEROFINA

Rezultate financiare Cifra de afaceri la 30.06.2018: Pierderi la 30.06.2018:

10.688.539 lei 1.750.773 lei Page 7 of 38

ROMAERO SA Hotarari AGEA 23.08.2018 http://www.bvb.ro/info/Raportari/RORX/RORXRaport%20curent%20hotarari%20AGEA%20din%2023.08.2018.pdf

Bursa de Valori Bucureşti 24.08.2018 14:18:00

completare act constitutiv societate

Doina Variu şi Alexandru Buşcu au fost reconfirmaţi drept membri provizorii ai consiliului de administraţie al Romaero https://www.zfcorporate.ro/burse-fonduri-mutuale/doina-variu-si-alexandru-buscu-aufost-reconfirmati-drept-membri-provizorii-ai-consiliului-de-administratie-al-romaero17481630

Ziarul Financiar Articol publicat în ediţia tipărită a Ziarului Financiar din data de 27.08.2018 ieri, 20:39 Autor: Dan Grigore Ivan

170,21 mil. lei este valoarea de piaţă a Romaero

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Noutati despre F 16 https://www.rumaniamilitary.ro/noutati-despre-f-16

Romania Military George GMT 26 august 2018 - 6:00

Stiam deja ca Lisabona a fost de acord sa ne livreze inca 5 aparate din flota operationala portugheza, ministerul lusitan al apararii explicand ca Romania are nevoie urgenta de cele cinci aparate, astfel incat ele vor fi practic transferate din cadrul fortelor aeriene portugheze catre cele romane (dupa o reparatie capitala), urmand ca mai apoi portughezii sa primeasca din SUA cinci A/B-uri pe care sa le aduca la standardul MLU. Presa lor scrie ca deocamdata nici cele trei F 16 procurate tot din Statele Unite, pentru a inlocui trei MLU-uri livrate Bucurestiului in primele 12 aparate sosite in tara, nu sunt inca operationale. ...citește varianta integrală și originală urmărind link-ul ...

Proiectul de cercetare va dezvolta tehnologia automatizată de asamblare și inspecție pentru structurile de aviație Research Project Will Develop Automated Assembly & Inspection Technology for Aircraft Structures https://www.engineering.com/AdvancedManufacturing/ArticleID/17499/ResearchProject-Will-Develop-Automated-Assembly-Inspection-Technology-for-AircraftStructures.aspx?ENGCOM=

Engineering - USA

A new £8 million research project, led by GKN Aerospace and backed by the UK’s Aerospace Technology Institute (ATI), is focusing on developing and demonstrating robotic and digital technologies required for the next generation of aircraft wing manufacturing. ...citește varianta integrală și originală urmărind link-ul ...

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Pentagon Contract Announcement http://www.asdnews.com/news/defense/2018/08/23/pentagon-contractannouncement

Aerospace & Defence - Network Source: U.S. Department of Defense Date: Aug 23, 2018

Bell Helicopter Textron Inc., Fort Worth, Texas, is awarded $509,750,754 for modification P00005 to definitize a previously awarded advance acquisition contract (N00019-17-C-0030) for the manufacture and delivery of 29 Lot 15 production AH-1Z New-Build aircraft in support of the Marine Corps H-1 upgrade program.

In addition, this modification provides for long lead material and components for an additional seven Lot 16 aircraft. ...citește varianta integrală și originală urmărind link-ul ...

Insights 2 military choppers set to stay back in Maldives The Economic Times18:13 Sun, 26 Aug

Airbus A220 and Boeing-Embraer overture boost regional outlook Air Transport World00:36 Sat, 25 Aug

Airbus Awarded Patent For Aircraft Sensing Orifice HeliHub15:08 Fri, 24 Aug

Airbus venture arm backing LeoLabs to build the 'Google Maps' of satellites CNBC20:56 Sat, 25 Aug

Arms giant Lockheed Martin's tribute to John McCain goes down... badly RT00:21

Bell Awarded $510M Contract for the Manufacture and Delivery of 29 AH-1Zs HeliHub18:59 Fri, 24 Aug

Bell contracted for AH-1Z attack helicopters for Marine Corps UPI16:17 Fri, 24 Aug

Bell to build 29 AH-1Z Viper helicopters for US Marine Corps The Defense Post13:08 Fri, 24 Aug

BOC Aviation Orders Eight A330neo Aircraft for Lease to Lion Air Aviation Tribune13:56 Sun, 26 Aug

First Loss For Boeing?

Seeking Alpha19:49 Fri, 24 Aug

FlightSafety awarded TH-57 Aircrew Training Services contract Vertical Magazine18:09 Fri, 24 Aug

Fort Carson goes green Shephard.co.uk14:39 Fri, 24 Aug

GPS III SV02 ready for launch Shephard.co.uk16:39 Fri, 24 Aug

Iconic Helicopter Sculpture Restored by Helicopter Museum HeliHub11:17 Fri, 24 Aug

IndiGo, GoAir ground 9 A320 neos on engine woes: DGCA The Financial Express00:54 Sat, 25 Aug

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AIRBUS: Raport anual 2017 - prezentarea Companiei (43 ĂŽnceput #270) http://www.airbus.com/investors/financial-results-and-annualreports.html#annualreports

Airbus extras Summary Financial and Operating Data CONSOLIDATED BACKLOG FOR THE YEARS ENDED 31 DECEMBER 2017, 2016 AND 2015(1)

Insights Japan teams up with Uber, Airbus and 19 others on flying taxi plan Engadget01:54 Sat, 25 Aug

Jordanian pilot killed in US IHS Jane's12:19 Thu, 23 Aug

Leonardo finalises NH90 deal with Qatar Helicopter Investor18:09 Wed, 22 Aug

Lufthansa Expects No Quick Fix for Engine Troubles on Its Newest Narrow-Body Jets Skift00:00

MedFlight to fly into new facility HeliHub11:27 Fri, 24 Aug

Metro wins J. Pat Beaird Industry and Top Businesses of the Year award HeliHub11:47 Fri, 24 Aug

Modernized Mi-26T2V helicopter takes its first flight HeliHub11:07 Fri, 24 Aug Rostec presents a modernized Night Hunter HeliHub12:07 Fri, 24 Aug

Rostec presents modernized Mi-35M and Mi-35P HeliHub11:37 Fri, 24 Aug

Russian Helicopters displays modernized Night Hunter at Army-2018 Vertical Magazine15:28 Fri, 24 Aug

RwandAir, Uganda order the Airbus A330 Neos The East African18:58 Sun, 26 Aug

Technical Systems Integration Inc Awarded $11M contract for MH-53E MK-105 Gear Repair HeliHub19:09 Fri, 24 Aug

The future of taxi drones to be discussed at FAI conference Vertical Magazine15:58 Fri, 24 Aug

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Cap. ARME DE FOC și MUNIȚIE AK… numarul 308 https://www.rumaniamilitary.ro/ak-numarul-308#prettyPhoto

Romania Military Marius Zgureanu 24 august 2018 - 6:16

Da, AK-308 este denumirea noului model de arma de asalt in calibrul 7,62×51/NATO prezentat de producatorul Kalashnikov cu ocazia expozitiei Army-2018.

...citește varianta integrală și originală urmărind link-ul ...

The story of M4 Carbine (16, început #297) https://www.defenseindustrydaily.com/the-usas-m4-carbine-controversy-03289/

Defense Industry Daily Additional Readings Background: Weapons & Key Trends  DID – Colt M4 Data Rights & The Individual Carbine Competition. guest Article by Daniel E. Watters of The Gun Zone.  The Gun Zone – A 5.56 x45 mm “Timeline” . The prologue section begins in 1882, and subsequent sections go all the way to the present day. The feature includes M4-related contracts that were never announced on the Pentagon’s DefenseLINK.  Gary K. Roberts, LCDR, USNR at NDIA 2008 conference – Time for a Change [PDF format]. LCDR Roberts offers a history of US military small arms programs, as well as testing results from the 2007 multi-agency M4A1/MK12 Modified Upper Receiver Group (MURG) project. Includes evaluations of 6.8mm and 7.62mm caliber performance.  Winds of Change – Taking Back the Infantry Half-Kilometer . Links to official report re: the need for lethality at range in Afghanistan, and related materials.  NY Times At War: Notes from the Front Lines – The Weakness of Taliban Marksmanship . And how they make it work for them anyway. Effective, accurate counterfire at range offers an especial advantage against such opponents.  Colt – M4 5.56mm Carbine  Quarterbore – Special Operations improves M4 carbine . Written by SGT. Nelson Mumma Jr. Page 13 of 38

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Special Operations.com – A Short History of the M4 Carbine . More of a chronicle of variants and add-ons.

Hartford Courant (Dec 5/04) – Ex-Marine has West Hartford, Conn., Gun Maker Colt Shooting Straight . Also notes the firm’s political backers in Washington, most prominently Rep. Jack Murtha [D-PA, now deceased].

Gun Websites – Colt CM901 modular battle rifle . Can be chambered in 5.56mm through 7.62mm.

ADCOR: The B.E.A.R. Story Modern Firearms [Guns.RU] – FN SCAR: Mark 16 and Mark 17- Special Forces Combat Assault Rifle (USA / Belgium) . One of the 7.62mm SCAR’s most interesting and potentially life-saving features is the ability to switch its chambering, which would let operators scavenge Russian/Chinese magazines from the enemy for ammunition.

Defense Update – Special Operations Combat Assault Rifle (SCAR) National Defense Magazine (July 2005) – Custom-Designed Rifle Aims to Fit Commandos’ Special Needs . Discusses the FN SCAR. Heckler & Koch USA – HK416 Soldier Tech – HIGHLY EVOLVED: The HK416 Enhanced Carbine HK Pro – The HK416: The M16 has finally been fixed (Cal 5.56 mm x 45) . There’s also a larger 7.62mm version in development, the HK417 .

DID – IAR What IAR: The USMC’s SAW Substitution. The FN-SCAR, HK416, and Colt variants of the M16 were all competing. A variant of the HK416 won, and became the M27 IAR. Remington Defense – ACR . Their Adaptive Combat Rifle is multi-caliber in 5.56mm, 6.5mm Grendel, or 6.8mm.

Insights The modernized Mi-26T2V helicopter made for the Russian Aerospace Forces took its first flight Russian Aviation00:11 Fri, 24 Aug

Uganda:Rwandair, Uganda Order the Airbus A330 Neos AllAfrica13:16 Sun, 26 Aug

Ukraine Tests New Helicopter Missile Oskol HeliHub20:54 Thu, 23 Aug

United Rotorcraft receives contract for Ventura County Fire Vertical Magazine14:58 Fri, 24 Aug

United Rotorcraft receives contract for Ventura County Firehawks Vertical Magazine15:18 Fri, 24 Aug

Cap. ITC ES-5080 - Digital Receiver Based ELINT/ESM System https://www.harris.com/solution/es-5080-digital-receiver-based-elintesmsystem?utm_source=linkedin&utm_medium=social&utm_campaign=es

Harris Corporation Harris, with the ES-5080 digital receiver based ELINT/ESM system provides a cost effective, state of the art design. The ES-5080 utilizes the latest digital receiver technology for extremely accurate pulse measurements. The inherently flexible Page 14 of 38

design allows a broad range of configurations: Number of channels, selection of antennas, networking capability. This system is deployed domestically and internationally for coastal surveillance, airborne, maritime and land based applications.

Cost effective ELINT/ESM system for extremely accurate pulse measurements Harris developed the CS-5060 in the early 1990's to meet a US Army requirement for a single channel ELINT system tied to a high-gain rotating antenna. The Army originally installed it on ground vehicles. In the late 1990's, the Army installed a CS5060 on several RC-12 Guardrail aircraft. Over the past 20 years, CS-5060 systems have been sold abroad in both airborne and ground-based configurations. These systems are the predecessor to the ES-5080.

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Nakasone said during his first public remarks since taking command. “This is a dynamic force that comes and goes.�

Cap. NAVAL

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Olandezi numiţi în Consiliul de Administraţie al Şantierului Naval din Mangalia, preluat de Damen https://www.ziuaconstanta.ro/stiri/actualitate/olandezi-numiti-in-consiliul-deadministratie-al-santierului-naval-din-mangalia-preluat-de-damen-668841.html

ZIUA - Constanţa 27.08.2018

În Monitorul Oficial al României au fost publicate deciziile luate de Adunarea Generală Ordinară a Acţionarilor Daewoo Mangalia Heavy Industries SA, în şedinţa din data de 20 iulie 2018.

Au fost numiţi patru noi membri:



Bert Jan ter Riet, desemnat preşedintele Consiliului de Administraţie,  Joannes Adrianus Cornelius Maria Maerkelbach van Enkhuizen,  Vadiim Akimov,  Emile Huibertus Poot. În cadrul şedinţei, s-au aprobat desemnările, pentru o perioadă de doi ani, cu data de începere 21 iulie 2018. ...citește varianta integrală și originală urmărind link-ul ...

Statul român pregătește decizia de a cumpăra cele patru corvete de 1,6 miliarde de euro https://romanialibera.ro/economie/statul-roman-pregateste-decizia-de-a-cumparacele-patru-corvete-de-16-miliarde-de-euro-749198

România Liberă Ministrul Apărării Naționale, Mihai Fifor, a declarat, sâmbătă, la Vaslui, că procedura de achiziţie pentru cele patru corvete multifuncţionale, destinate Forțelor Navale Române, este în plină derulare.

Din offset-ul aferent contractului de cumpărare pentru cele patru corvete se va realiza operațiunea de modernizare a celor două fregate, F-221 și F-222, cumpărate de România de la Marea Britanie. ...citește varianta integrală și originală urmărind link-ul ...

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Mihai Fifor: Derulăm procedura de achiziţie pentru cele patru corvete multifuncţionale https://www.mediafax.ro/social/mihai-fifor-derulam-procedura-de-achizitie-pentrucele-patru-corvete-multifunctionale-17477765

MEDIAFAX „Guvernul României face toate eforturile astfel încât programele majore de înzestrare a Armatei României să poată să fie duse la îndeplinire. Numai anul acesta deja în februarie am achitat primul sistem de rachete HIMARS, suntem în faza în care ne pregătim să achităm cel de-al doilea sistem de rachete Patriot, avem în plină derulare procedura de achiziţie pentru cele patru corvete multifuncţionale din offset-ul cărora se vor moderniza cele două fregate pe care le-am cumpărat de la Marina Britanică în urmă cu ceva ani şi iată săptămâna aceasta un nou program, cel legat de bateriile de coastă sau sistemele mobile de lansare rachete antinavă”, a spus Fifor. ...citește varianta integrală și originală urmărind link-ul ...

Forţele Navale Române doresc dotarea cu 3 submarine construite de un şantier naval din România https://paginiromanesti.ca/2018/08/25/fortele-navale-romane-doresc-dotarea-3submarine-construite-santier-naval-romania/

Pagini românești - Canada P. R.1 25/08/2018

De îndată ce Forţele Navale vor finaliza concepţia pentru înzestrarea cu submarine vom înainta acest proiect de înzestrare cu submarine către Parlamentul României şi către CSAT pentru avizele necesare şi va trebui să identificăm şi resursa bugetară pentru realizarea acestui obiectiv. Nu discutăm despre un proiect pe termen scurt sau mediu, discutăm de un proiect pe termen lung, pentru că deocamdată principalele programe de înzestrare sunt deja pe rol”, a spus Fifor la un eveniment organizat la Vaslui.

El a subliniat că în contextul în care România este principalul furnizor de securitate şi de stabilitate la Marea Neagră trebuie să aibă o capacitate de descurajare şi de asigurare a acestei părţi din Flancul estic foarte bine pusă la punct transmite Agerpres. ...citește varianta integrală și originală urmărind link-ul ...

Insights http://www.romania-actualitati.ro/m-fifor-anunt-despre-achizitia-a-trei-submarine118647 http://www.romaniatv.net/mihai-fifor-armata-romana-va-avea-treisubmarine_436060.html https://www.stiripesurse.ro/ministrul-apararii-discutia-despre-submarine-este-incontinuare-pe-rol_1285265.html

1

Pagini Românești este cea mai cunoscută și mai veche publicație a comunității românești din Quebec. Primul nostru număr a apărut în martie, 2001.

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https://www.ziuaconstanta.ro/diverse/stiri-calde/trei-submarine-vor-intra-in-dotareafortele-navale-romane-ce-a-declarat-ministrul-apararii-nationale-mihai-fifor668756.html

Fifor: Forțele Navale, pregătiri pentru construcția de submarine https://www.dcnews.ro/fifor-for-ele-navale-pregatiri-pentru-construc-ia-desubmarine_609830.html

DCnews.ro Bogdan Cotigă 25 aug 2018 / 13:41

Ministrul Apărării Naţionale, Mihai Fifor, a declarat sâmbătă că Forţele Navale se pregătesc să finalizeze concepţia legată de cele trei submarine pe care Armata României le doreşte în dotarea sa.

Fifor a spus că discuţia despre submarine este în continuare pe rol și că Forţele Navale se pregătesc să finalizeze concepţia legată de cele trei submarine pe care Armata României le vrea în dotarea sa, submarine pe care le dorește construite tot într-un şantier naval din România, aşa cum se întâmplă şi în cazul corvetelor.

Aspecte de la vernisajul expoziției ”Eroi ai Primului Război Mondial” din Sala ARTA a Muzeului Județean ”Ștefan cel Mare” din Vaslui - foto Edi Borhan http://www.mapn.ro/fotodb/20180824/IMG_3521

România, pregătită pentru construcția de submarine https://www.defenseromania.ro/fortele-navale-se-pregatesc-sa-finalizeze-conceptialegata-de-cele-3-submarine-pe-care-armata-le-vrea-in-dotare_593202.html

Defense Romania Bogdan Cotiga 25 aug 2018 / 12:57

Fifor a spus că discuţia despre submarine este în continuare pe rol și că Forţele Navale se pregătesc să finalizeze concepţia legată de cele trei submarine pe care Armata României le vrea în dotarea sa, submarine pe care le dorește construite tot într-un şantier naval din România, aşa cum se întâmplă şi în cazul corvetelor. "Probabil că multă lume a zis că avem idei science-fiction. Eu vă spun că nu. Am fost în urmă cu câteva luni în Grecia, la colegii noştri. Am văzut acolo capacităţile de construcţie a submarinelor pe care ni le dorm şi noi la Marea Neagră în dotarea Forţelor Navale româneşti. Este un proiect industrial care cred eu că se poate pune în practică fără niciun fel de problemă şi în România. ...citește varianta integrală și originală urmărind link-ul ...

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Cap. RACHETE

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Programul de înzestrare „Sistem de instalații mobile de lansare rachete antinavă”, aprobat în ședința Guvernului României https://www.rumaniamilitary.ro/programul-de-inzestrare-sistem-de-instalatii-mobilede-lansare-rachete-antinava-aprobat-in-sedinta-guvernului-romaniei

Romania Military Razvan Mihaeanu 24 august 2018 - 13:50

“Termitele” Styx in noul camuflaj, Parada de 1 Decembrie 2017 Guvernul României a aprobat în ședința de joi, 23 august, hotărârea privind aprobarea circumstanţelor şi a procedurii specifice aferente programului de înzestrare ,,Sistem de instalații mobile de lansare rachete antinavă” – SIML, pentru dotarea Armatei.

Contractul de furnizare, care va cuprinde și suportul logistic inițial, va fi multianual și se va derula în perioada 2018 – 2022. ...citește varianta integrală și originală urmărind link-ul ...

DeepStrike Missile – HIMARS https://www.rumaniamilitary.ro/deepstrike-missile-himaars

Romania Military Razvan Mihaeanu 25 august 2018 - 3:24

Double combat power at a fraction of the cost

Preserving peace and stability around the world calls for an “overmatch,” an affordable solution that offers greater range, precision and combat power than that of potential adversaries. Raytheon is answering the call with the new DeepStrike® missile, a longer-range weapon based on advanced technologies that will allow the U.S. Army to field twice as many missiles on its existing launch vehicles. ...citește varianta integrală și originală urmărind link-ul ...

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Insights Global Missiles and Missile Defense Systems Market Forecast to 2027 Aerospace & Defence - Network

Ground Based Ballistic Missile Defence Systems Market Report 2018–2028 Aerospace & Defence - Network

HTPB Market – Global Forecast to 2022 Aerospace & Defence - Network

http://www.asdnews.com/news/aerospace/2018/08/13/af-awards-hypersonicweapon-contract Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/08/mexico-evolved-seasparrowmissiles Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/10/lm-sweden-sign-agreementhittokill-pac3-mse-missiles Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/10/sweden-signs-agreement-withus-government-patriot-air-missile-defense-system Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/14/lm-receives-218-m-contracthimars-launcher Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/15/ngcs-missile-defense-battlemanager-shares-integrated-air-picture-over-vast-distances Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/16/lockheed-martin-mbdadeutschland-receive-second-request-proposal-develop-tlvs-germany Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/17/future-indirect-fires-summit Aerospace & Defence - Network

http://www.asdnews.com/news/defense/2018/08/21/oleksandr-turchynov-after-testcruise-missile-our-missiles-are-capable-providing-reliable-defence-black-sea-azovcoast Aerospace & Defence - Network

Imprese: Soitec ed Mbda annunciano acquisizione di Dolphin Integration (3) Agenzia Nova

MBDA, Soitec take over Dolphin Integration IHS Jane's 360

SOITEC : SOITEC AND MBDA TO ACQUIRE DOLPHIN INTEGRATION ASSETS Nasdaq

The Global Missiles and Missile Defense Systems Market 2018–2028 Aerospace & Defence - Network

Weapons Manufacturing: Global Markets to 2022 Aerospace & Defence - Network

Cap. VEHICULE BLINDATE Consortium Iveco-Oto Melara (CIO) semnează un contract cu Ministerul Apărării italian pentru 10 vehicule blindate Centauro II IVECO-OTO MELARA CONSORTIUM (CIO) signs contract with the Italian Ministry of Defence for 10 Centauro II armoured vehicles Page 23 of 38

http://www.leonardocompany.com/en/-/contratto-centauroii-contract

Leonardo 24/07/2018 18:06

Today the Iveco-Oto Melara Consortium (CIO), which is 50% owned by Leonardo, signed a contract worth 159 million Euros with the Italian Ministry of Defence for the acquisition of the first 10 new Centauro II armoured vehicles. The signing ceremony took place at Palazzo Guidoni, the headquarters of the Italian Secretariat General of Defence and of the National Armaments Directorate. It was attended by the Secretary General of Defence and National Armaments Director, Aerial Squadron Marshall Carlo Magrassi, the Italian Army Chief of Staff, General Salvatore Farina, and the Director of the Land Armaments, Lieutenant General Francesco Castrataro.

This is the first tranche out of a total 136 units. The contract also includes spares and logistic support.

The contract value for Leonardo amounts to approximately 92 million Euros. The company will be responsible for the development and integration of the complete turret defence system, including the observation, targeting and communications systems.

Centauro II is a major step forward compared to the Centauro I in terms of power, situational awareness, mobility, ergonomics, shooting behaviour and communications, all while providing maximum crew protection. It is a latestgeneration wheeled armoured vehicle that can operate in any number of scenarios: from national security missions to peacekeeping and support operations and in other operational theatres in which the Armed Forces need to intervene.

Australia Opens Tender for 450 Infantry Fighting Vehicles http://www.asdnews.com/news/defense/2018/08/24/australia-opens-tender-450infantry-fighting-vehicles

Aerospace & Defence - Network Source: Australian Department of Defence Date: Aug 24, 2018

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The multi-billion dollar project to replace Army’s M113 Armoured Personnel Carriers has taken another step forward with the formal release of the Request for Tender for LAND 400 Phase 3 – Mounted Close Combat Capability.

Minister for Defence Senator the Hon Marise Payne said the project will see Army’s capability significantly enhanced with a fleet of up to 450 modern Infantry Fighting Vehicles and 17 Manoeuvre Support Vehicles.

“This will be the largest investment in Army’s capability ever undertaken and will provide our troops with a modern close combat capability,” Minister Payne said.

“The vehicles will be equipped with high levels of protection, firepower and mobility that will enable sustained operations, varying from peacekeeping to close combat.”

Minister Pyne encouraged Australian industry to get behind the project. ...citește varianta integrală și originală urmărind link-ul ...

Un nou buldozer blindat UVZ B10M2S pentru armata rusă Army-2018: New UVZ armored bulldozer B10M2S for Russian army

https://www.armyrecognition.com/army-2018_news_russia_online_show_daily/army2018_new_uvz_armored_bulldozer_b10m2s_for_russian_army.html

Army Recognition 26 august 2018

Russian defense Company Uralvagonzavod (UVZ) research-and-manufacturing corporation (a subsidiary of ROSTEC Russian State Corporation for Assistance to Development, Production and Export of Advanced Technology Industrial Product) showcases its new B10M2S tracked armored bulldozer at Army-2018 International Military Technical Forum in the Patriotic Park Expo, Moscow Region, Russia.

...citește varianta integrală și originală urmărind link-ul ...

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Cap. EUROPA Președintele Radev comentează factorii de risc cu care se confruntă forțele aeriene bulgare, sectorul asigurărilor President Radev Comments Risk Factors Facing Bulgarian Air Force, Insurance Sector http://www.bta.bg/en/c/DF/id/1857862

The Bulgarian News Agency 23 August 2018 / 14:38

"The Bulgarian Air Force remains exposed to risk factors," Bulgarian President and Supreme Commander-in-Chief of the Armed Forces Rumen Radev commented to journalists on Thursday.

Among the risk factors, the head of State listed the insufficient number of aircraft, the insufficient resources for training and, hence, the low number of flight hours which, in his words, heightens the risk of potential aviation accidents. "The point is not just to fly, more technologies should already be available to enable us to be interoperable and safely and effectively accomplish the missions together with our allies," the President commented. ...citește varianta integrală și originală urmărind link-ul ...

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Cap. DECIZIONAL

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Marius Constantin Borănescu, ambasador în Africa de Sud și Madagascar http://www.presidency.ro/ro/media/comunicate-de-presa/decret-semnat-depresedintele-romaniei-domnul-klaus-iohannis1535110360 Președintele României, domnul Klaus Iohannis, a semnat vineri, 24 august a.c., decretul privind acreditarea domnului Marius Constantin Borănescu, ambasador extraordinar şi plenipotenţiar al României în Republica Africa de Sud și în calitate de ambasador extraordinar şi plenipotenţiar al României în Republica Madagascar, cu reședința la Pretoria.

Cap. FINANȚE Cursul de schimb: euro, liră sterlină, USD, gr. aur 20 aug.2018 21 aug.2018 22 aug.2018 23 aug.2018 24 aug.2018 4.6483 4.6434 4.6445 4.6490 4.6377 5.1896 5.1688 5.1663 5.1716 5.1407 4.0737 4.0320 4.0077 4.0228 4.0089 155.6363 154.7773 154.2391 153.6636 153.5018

EUR GBP USD XAU

http://www.bnro.ro/default.htm

6

Lei

5.3960

5.5 5

4.6695

4.5

5.1631

EURO Y18

4.6206 4.0976

GBP Y18

4

USD Y18

3.5

3.7170

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31-12-18

17-12-18

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169.0228

170

Lei

168 166 164 162 160 AUR Y18

158 156 154 152

153.5018 31-12-18

17-12-18

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21-05-18

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23-04-18

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26-03-18

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26-02-18

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29-01-18

15-01-18

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150

grafice HERALD INSIGHTS în baza datelor istorice BNR

Dividendele General Dynamics: la ce concluzii putem ajunge (6, început cu #307) General Dynamics: o privire profundă asupra preferatului meu furnizor aristocrat de dividende General Dynamics: A Deep Due-Diligence Dive On My Favorite Dividend Aristocrat https://seekingalpha.com/article/4199580-general-dynamics-deep-due-diligence-divefavorite-dividend-aristocrat

Blog Aug. 15, 2018 5:39 PM ET Chuck Walston

The Backlog Speaks Volumes Any assessment of General Dynamics requires perusal of the company’s backlog.

Backlog and estimated contract value (unaudited) - dollars in millions

Source: 2Q/2018 8K Page 29 of 38

While it appears healthy, investors should be aware that the CSRA acquisition contributed an additional $5.3 billion of firm backlog for the company.

It is important to understand that the CSRA deal resulted in an IT segment that is approximately twice its former size. IT now accounts for a quarter of GD’s revenues while providing a 6.4% margin, the lowest of any segment. Furthermore, IT constitutes the slowest growing business among GD’s segments while markedly increasing the company’s debt load.

There are analysts that advocated the divestiture of IT due to the above listed concerns.

On a positive note, Gulfstream orders increased by 21%. Furthermore, there is a likelihood of a large increase in the backlog due to the anticipated addition of DDG and Virginia Block V contracts later this year.

Cap. MacroE Agenția Moody’s reconfirmă ratingul de țară al României cu perspectivă stabilă http://www.mfinante.ro/acasa.html?method=detalii&id=999605854

Ministerul Finanţelor Publice Agenția de rating Moody’s menține calificativul BBB-/A-3 aferent datoriei guvernamentale a României pe termen lung și scurt în valută și în monedă locală.

"Anunțul Moody’s arată faptul că țara noastră are o creștere economică solidă, care se va menține și în următorii ani. Această perspectivă de creștere și nivelul moderat al datoriei publice sunt motive de încredere pentru investitori în economia românească.", apreciază dl Eugen Teodorovici, ministrul finanțelor publice.

Dintre punctele forte ale României care au stat la baza deciziei agenției de rating enumeram: o potențialul robust de creștere economică pe termen mediu în contextul provocărilor existente de continuare a reformelor structurale; o capacitatea fiscală moderată, susținută de nivelul scăzut al datoriei publice, în ciuda riscurilor asociate de politicile fiscale prociclice; o capacitatea instituțională moderată, care reflectă progresele înregistrate de România de când este membră a Uniunii Europene; o expunerea moderată la riscurile externe. În următorii doi ani, agenția de rating prognozează o creștere a PIB-ului real cu 4% în 2018, respectiv de 3,5% în 2019. În timp, este de așteptat ca dinamica investițiilor să se îmbunătățească, în condițiile in care consumul privat va continua sa fie principalul factor de creștere, iar contribuția exporturilor nete va rămâne negativă.

Agenția de rating Moody’s menționează că factorii care pot duce la o îmbunătățire a ratingului de țară vizează măsurile fiscale și externe, însoțite de o mai mare predictibilitate și credibilitate a acestora. Totodată, punerea în aplicare a reformelor structurale menite să sprijine mediul de afaceri și să soluționeze deficitul de infrastructură vor avea un impact pozitiv asupra creșterii pe termen lung.

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Rating Action: Moody's affirms Romania's Baa3 issuer ratings; outlook stable https://www.moodys.com/research/Moodys-affirms-Romanias-Baa3-issuer-ratingsoutlook-stable--PR_386462

Moody's 24 Aug 2018

London, 24 August 2018 -- Moody's Investors Service, ("Moody's") has today affirmed Government of Romania's Baa3 long-term issuer and senior unsecured ratings, the (P) Baa3 MTN programme rating, as well as the Prime-3 (P-3) short-term issuer ratings of Romania. The outlook remains stable.

The decision to affirm the ratings and maintain the stable outlook reflects the following key rating factors: (1) Romania's moderate economic strength, balancing the economy's robust medium-term growth potential with structural challenges; (2) The government's moderate fiscal strength, supported by a low debt burden and favorable debt affordability metrics, despite risks posed by a pro-cyclical fiscal policy; (3) Romania's moderate institutional strength, reflecting earlier improvements fostered by EU membership as well as emerging risks of reform reversal; (4) The country's moderate exposure to event risks, driven by the moderate external vulnerability risk and, to a lesser extent, by a volatile domestic political environment.

The stable outlook reflects broadly balanced risks to the rating. Romania's credit profile remains supported by inherent strengths, which include solid medium term growth potential and relatively strong fiscal metrics against risks arising from negative fiscal and institutional trends which, if sustained over the longer term, would erode Romania's relative strengths versus its Baa3 peers.

The long-term country ceilings of Romania for local and foreign currency bonds and for local currency bank deposits remain unchanged at A3. Its long-term country ceiling for foreign currency bank deposits remains unchanged at Baa3. Its short-term country ceiling for foreign-currency bonds remains unchanged at Prime-2 (P-2), and its short-term country ceiling for foreign currency bank deposits remains unchanged at Prime-3 (P-3).

RATINGS RATIONALE FIRST DRIVER: MODERATE ECONOMIC STRENGTH BALANCING A ROBUST MEDIUM-TERM GROWTH POTENTIAL WITH STRUCTURAL CHALLENGES The first driver of Moody's decision to affirm Romania's ratings with a stable outlook balances the country's robust medium-term growth potential with structural economic and governance challenges. Apart from its growth potential, supported by increasing integration in the EU value chain, the country's economic strength benefits from the size and diversification of its economy as well as its wealth level, measured by a GDP per-capita income (PPP basis) estimated at $24,508 in 2017. This is above the Baa-median.

These positive attributes of Romania's economic strength are balanced by limited progress in implementing structural economic and governance reforms to address weaknesses in the business environment and deficiencies in infrastructure, whose quality remains relatively low compared to European peers, as well as weak public investment management and weak governance of state-owned enterprises.

Romania's above-potential growth of recent years is not sustainable. The country's growth dynamics are decelerating as monetary policy becomes less accommodative and the impact of the fiscal stimulus subsides. Moody's expects Romania's real GDP to expand by 4.0% and 3.5% in 2018 and 2019, respectively, down from 6.9% in Page 31 of 38

2017. While investment dynamics are expected to improve somewhat, private consumption will continue to remain the key growth driver while the contribution of net export is expected to remain negative.

SECOND DRIVER: LOW DEBT BURDEN AND FAVORABLE DEBT AFFORDABILITY METRICS, DESPITE RISKS POSED BY A PRO-CYCLICAL FISCAL POLICY The second driver of Moody's decision to affirm Romania's ratings reflects the government's moderate fiscal strength, balancing favorable metrics on debt burden and debt affordability with risks posed by a pro-cyclical fiscal policy. The latter led the general government deficit to widen substantially to close to 3.0% of GDP in 2016 and 2017, up from 0.8% in 2015.

Romania's debt trajectory is exposed to the risk of growth and fiscal shocks. As the quality of the government's expenditure composition deteriorates, the accompanying increase in budget rigidity raises the risks to the fiscal position in case of a stronger than expected economic downturn. A significant exchange rate depreciation would also affect the debt dynamics given that more than half of the total debt is denominated in foreign currency. In addition, the 18.1% share of domestic debt securities held by non-residents (as of May 2018) exposes the government to some risk in case of a shift in investor confidence.

That said, Romania's fiscal metrics remain strong and compare favorably to peers.

The government's interest payment burden, with interest payments absorbing about 4.5% of revenue in 2017, is relatively low and well below the Baa-rated median (8.4%, excluding Romania), reflecting a combination of moderate debt levels and low interest rates paid on debt. The government debt-to-GDP ratio is moderate, at 35% of GDP at end-2017, well below the Baa-rated median (48.2% of GDP, excluding Romania). Despite decelerating growth, the debt-to-GDP ratio is expected to remain below 40% of GDP over the 2018-21 period.

THIRD DRIVER: MODERATE INSTITUTIONAL STRENGTH, BALANCING PAST IMPROVEMENTS WITH RISK OF REFORM REVERSAL The third driver of the affirmation is Romania's moderate institutional strength, balancing the improvements fostered by EU membership over the past years against the risk of reform reversal, which somewhat counterbalances the mentioned credit strengths.

The institutional capacity was significantly strengthened under the aegis of the EU membership, but Romanian institutions remains weaker than their EU counterparts.

Furthermore, EU institutions have expressed concerns about the risk of reform reversal posed by recent legislative initiatives that can weaken the anti-corruption framework and the rule of law. At the same time, the reversal of the past fiscal consolidation through measures approved outside the standard fiscal framework's rules and practices reduces policy credibility and predictability, weighting on our assessment of institutional strength.

FOURTH DRIVER: MODERATE, ALBEIT INCREASING, EXPOSURE TO EVENT RISKS, DRIVEN PREDOMINANTLY BY EXTERNAL VULNERABILITY RISK The fourth driver of the affirmation is the moderate, albeit increasing, exposure to event risks, driven by the external vulnerability risk and, to a lesser extent, by the volatile domestic political environment.

Romania's current account deficit widened to 3.3% of GDP in 2017 from 2.1% of GDP in 2016, primarily reflecting the government's pro-cyclical fiscal stance, and this has increased the downside risks to external position. The current account deficit in 2017 compared unfavourably with Central and Eastern European peers, most of which had surpluses. While the current account deficit is expected to widen to 3.7% Page 32 of 38

of GDP in 2018, it remains mostly covered by FDI inflows. Romania's total external debt remains moderated, at about 50% of GDP in 2017, down from 70% in 2013.

At the same time, Romania's volatile political environment, characterized by frequent governments' turnover, has hampered policy continuity, resulting in a significant shift toward less prudent macroeconomic and fiscal policy in recent years. These political dynamics have not been conducive to structural reforms implementation. Potential tensions with EU over the fiscal position and judicial reforms would further undermine policy credibility and could adversely affect investor sentiment, increasing the susceptibility to event risk.

RATIONALE FOR STABLE OUTLOOK The stable outlook on the rating balances the country's inherent strengths, which include solid medium term growth potential and relatively strong fiscal metrics against risks arising from the current policies which, if sustained over the longer term, risks eroding Romania's relative strengths versus its Baa3 peers. Continuing fiscal expansion and increased budget rigidity are eroding the fiscal buffer to respond to potential shocks, exposing the fiscal position to a stronger than anticipated economic slowdown, while persistent political noise and threats to the rule of law, combined with the limited structural reforms, weigh on institutional strength and could negatively affect investor sentiment, increasing the susceptibility to event risk.

WHAT COULD CHANGE THE RATING - UP Upward pressure on the rating would arise from evidence of sustained improvement in the fiscal and external metrics accompanied by higher policy predictability and credibility and institutional effectiveness. The probability of an upgrade would increase with the implementation of structural reforms aimed at improving the business environment and addressing the infrastructure gap with a positive impact on long term growth.

WHAT COULD CHANGE THE RATING - DOWN Conversely, downward rating pressure would likely develop if the negative institutional and fiscal trends persist, and the susceptibility to event risk continue to rise in consequence, undermining the inherent strengths to a point no longer consistent with a Baa3 rating. The rating would likely be downgraded if there were evidence of rising macroeconomic imbalances or further material deterioration in its balance of payments and international investment position.

GDP per capita (PPP basis, US$): 24,508 (2017 Actual) (also known as Per Capita Income) Real GDP growth (% change): 6.9% (2017 Actual) (also known as GDP Growth) Inflation Rate (CPI, % change Dec/Dec): 3.3% (2017 Actual) Gen. Gov. Financial Balance/GDP: -2.9% (2017 Actual) (also known as Fiscal Balance) Current Account Balance/GDP: -3.3% (2017 Actual) (also known as External Balance) External debt/GDP: 52.8% Level of economic development: Moderate level of economic resilience Default history: No default events (on bonds or loans) have been recorded since 1983.

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Stabilitatea macroeconomică - un pas în direcția reputației diplomatice și de securitate (12, a început cu #296) Macroeconomic stability – a stepstone towards security and diplomatic standing Recent developments in Romania http://www.bnro.ro/Prezentari-si-interviuri--1332.aspx

Banca Națională a României Mugur Isărescu, Guvernatorul BNR

III. Evoluția inflației și politica monetară III. Inflation developments and monetary policy Indicatorul anual al inflației CPI2 depășește banda de variație a țintei din ianuarie 2018, după o perioadă prelungită de presiuni inflaționiste scăzute Annual CPI3 inflation above the variation band of the target since January 2018, after a prolonged period of low inflationary pressures

2

IPC = indicele prețurilor de consum Un indice de prețuri utilizat pentru a măsura variația costului bunurilor și serviciilor de bază în comparație cu o perioadă fixă. Denumit, de asemenea, indicele costului vieții.

Page 34 of 38

Determinants ʌ Base effect stemming from changes in indirect taxation and from the scrapping of a number of non‐tax fees and charges in early 2017 ʌ Hikes in the prices of electricity and natural gas in January and April, along with a sustained increase in oil prices ʌ Significant positive output gap ʌ Higher production costs (labour costs, utilities expenses) ʌ Upward adjustment of inflation expectations ʌ Domestic currency depreciation versus the euro

Factorii determinanți ʌ Efectul de bază rezultat din modificările impozitelor indirecte și din rezilierea unui număr de taxe și impozite fără taxe la începutul anului 2017 ʌ Creșterea prețurilor la electricitate și gaze naturale în ianuarie și aprilie, precum și o creștere susținută a prețurilor petrolului ʌ Deficit pozitiv semnificativ ʌ Costuri de producție mai mari (costuri cu forța de muncă, cheltuieli cu utilitățile) ʌ Ajustarea ascendentă a așteptărilor inflaționiste ʌ Deprecierea monedei naționale față de euro

Cap. EVENIMENTE Târguri, conferințe A&D: rachete Herald Insights • Export Compliance Solutions & Consulting Seminar - Sep 11 - 13, 2018, Annapolis, MD, United States • University Export Controls 2018 Seminar - Sep 17 - 20, 2018, Columbus, OH, United States • Defence Exports Conference - Sep 19 - 20, 2018, Rome, Italy • Full Spectrum Air Defence International conference - Sep 19 - 21, 2018, Zurich, Switzerland • Future Indirect Fires Summit - Sep 26 - 28, 2018, Lawton, OK, United States

Cap. Etica în afaceri Money laundering http://encyclopedia.thefreedictionary.com/Anti-Money+Laundering Spălarea banilor este procesul de transformare a produselor infracțiunii și a corupției în active aparent "legitime". Într-o serie de sisteme juridice și de reglementare, cu toate acestea, termenul de spălare a banilor a devenit identificat cu alte forme de infracțiune financiară și de afaceri și uneori este folosit în general pentru a include utilizarea necorespunzătoare a sistemului financiar (implicând lucruri precum valori mobiliare, monedă digitală, cărți de credit și monedă tradițională), inclusiv finanțarea terorismului și evitarea sancțiunilor internaționale. Majoritatea legilor împotriva spălării banilor combină în mod deschis spălarea banilor (care se referă la sursa de fonduri) cu finanțarea terorismului (care se referă la destinația fondurilor) atunci când reglementează sistemul financiar.

3

CPI = consumer price index An index of prices used to measure the change in the cost of basic goods and services in comparison with a fixedbase period. Also called cost-of-living index.

Page 35 of 38

Unele țări definesc spălarea banilor drept ascunderea surselor de bani, fie în mod intenționat, fie doar prin utilizarea unor sisteme sau servicii financiare care nu identifică sau nu urmăresc sursele sau destinațiile.

Alte țări definesc spălarea banilor ca integrare a banilor din activități care ar fi fost o infracțiune în țara respectivă, chiar dacă aceasta ar fi legală în cazul în care a avut loc comportamentul real. Această plajă largă de aplicare a spălării banilor în comportamente incidentale, extrateritoriale sau pur și simplu de confidențialitate a determinat pe unii s-o eticheteze ca infracțiune financiară.

History The concept of money laundering regulations goes back to ancient times and is intert wined with the development of moneyand banking. Money laundering is first seen wit h individuals hiding wealth from the state to avoid taxation or confiscation or acombi nation of both.

In China, merchants around 2000 BCE would hide their wealth from rulers who would simply take it from them and banishthem. In addition to hiding it, they would move it and invest it in businesses in remote provinces or even outside China.[5] Over the millennia many rulers and states imposed rules that would take wealth from their citizens and this led to thedevelopment of offshore banking and tax evasion. On e of the enduring methods has been the use of parallel banking orInformal value tran sfer systems such as hawala that allowed people to move money out of the country avoiding state scrutiny.

In the 20th century, the seizing of wealth again became popular when it was seen as an additional crime prevention tool. Thefirst time was during the period of Prohibition in the United States during the 1930s. This saw a new emphasis by the stateand law enforcement agencies to track and confiscate money. Organized crime received a major boost from Prohibition and alarge source of new funds that were obtained fro m illegal sales of alcohol.

In the 1980s, the war on drugs led governments again to turn to money-laundering rules to try and seize proceeds of drugcrime to catch the organizers and individuals r unning drug empires. It also had the benefit from a law enforcement point ofview of tu rning rules of evidence upside down. Law enforcers normally have to prove an individ ual is guilty to get a conviction.But with money laundering laws, money can be confis cated and it is up to the individual to prove that the source of funds islegitimate if they want the funds back. This makes it much easier for law enforcement agencies and p rovides for much lowerburdens of proof.

The September 11 attacks in 2001, which led to the Patriot Act in the US and similar l egislation worldwide, led to a newemphasis on money laundering laws to combat terr orism financing.[6] The Group of Seven (G7) nations used the Financial Action Task Force on Money Laundering to put pressure on governments around the world to increase surveillance andmonitoring of financial transactions and share this informati on between countries. Starting in 2002, governments around theworld upgraded mon ey laundering laws and surveillance and monitoring systems of financial transactions.

Anti moneylaundering regulations have become a much larger burden for financial institutions and enforcement has stepped upsignificantly. During 2011– 2015 a number of major banks faced everincreasing fines for breaches of money launderingregulations. This included HSBC, which was fined $1.9 billion in December 2012, and BNP Paribas, which was fined $8.9billion in July 2014 by the US government.[7] Many cou ntries introduced or strengthened border controls on the amount ofcash that can be c arried and introduced central transaction reporting systems where all financial instituti ons have to report allfinancial transactions electronically. For example, in 2006, Australia set up the AUSTRAC system and required the reporting of all financial transactions.

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Cap. DIVERSE The latest changes to the ISO ISO/IEC 27001:2013/Cor 1:2014 Information technology -- Security techniques -- Information security management systems -- Requirements -- Technical Corrigendum 2018-08-22

ISO/IEC 27001:2013/Cor 2:2015 Information technology -- Security techniques -- Information security management systems -- Requirements -- Technical Corrigendum 18-08-22 d i s t r i b u i t o r H E R AL D I N S I G H T S http://www.competitiveintelligence.ro

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