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ECONOMICS

Ratio between pensioners and employees could double by 2032 as compared to 2014, pension fund manager says

2017-04-28 12:38:12
The ratio between pensioners and employees could double by 2032 as compared to 2014, which will cause problems in covering the necessary pension payments by the employees for those who enter the...

ENERGY

Damages to electricity networks caused by severe weather conditions do not increase the distribution tariffs, says ACUE

2017-04-27 16:40:08
Lately, Romania confronted with extreme, unpredictable meteorological phenomena that have caused major damages, in large areas, to electricity distribution networks.

ECONOMICS

Orbis turnover increased to 62 million Euro in Q1

2017-04-27 15:57:46
The Orbis Hotel Group turnover increased by 4.4 million Euro in Q1 2017 up to 62 million Euro, a press release shows. Group's EBITDA in the first quarter totalled 8.9 million Euro, representin...

ECONOMICS

Deloitte Romania appoints Alexandru Reff as new country managing partner

2017-04-27 14:59:33
Alexandru Reff has been appointed country managing partner Deloitte Romania and Moldova, effective June 1, 2017. He will succeed Ahmed Hassan, who takes on a regional leadership position.

REAL ESTATE

Cushman & Wakefield Echinox expands its retail department with new appointment

2017-04-26 14:52:57
Cushman & Wakefield Echinox consolidates its retail team by recruiting Dana Radoveneanu, a specialist with six years of experience of the local retail market, a press release shows.

ECONOMICS

Banca Transilvania posts 246 million RON profit in the first quarter of 2017

2017-04-26 09:39:26
Banca Transilvania's net profit is 246 million RON (54.6 million Euro) for the first quarter of 2017, whereas Banca Transilvania Financial Group's net profit amounts to 267 million RON (59.3 mil...

ECONOMICS

Greg Konieczny, FP: We really need a miracle to think about Hidroelectrica's IPO this year

2017-04-25 15:45:26
There are some good news and some bad news about Hidroelectrica lately, according to Greg Konieczny, director of Fondul Proprietatea, who said in a press meeting that 'we really need a miracle t...

ECONOMICS

PM Grindeanu: Income tax applied in other countries, we are not reinventing the wheel

2017-04-25 09:58:12
Prime Minister Sorin Grindeanu stated on Monday evening at a private TV broadcaster that he expects a final draft of the income tax project so that he can decide, but underlined that this type o...

ENERGY

Electrica to repair its damaged power grid in the next 48 hours, 25,000 consumers still affected by power outage

2017-04-24 15:10:08
Due to severe weather conditions (rain, snow and strong wind) in the south-eastern counties of Romania on April 20, 2017, Electrica had several power grid failures within its group. The most aff...

ECONOMICS

Merger between Banca Comerciala Carpatica and Patria Bank approved by Bucharest Court of Appeal

2017-04-24 10:35:21
Bucharest Court of Appeal approved on April 21, 2017 the merger file between Banca Comerciala Carpatica and Patria Bank, allowing to the two banks to complete all the procedural and operational ...

ENERGY

Mol Romania appoints new CFO

2017-04-24 10:03:25
Zoltan Magyar has taken over as CFO of Mol Romania since beginning of March this year. Since 2014 Zoltan has held several positions (CFO, managing director) within Mol Kalegran Ltd., an upstream...

ENERGY

Enel enters the Romanian gas supply market for residential customers

2017-04-24 09:42:30
Enel announces the entrance on the Romanian gas supply market, with offers designed to offer ease of use and predictability for residential customers, who can now benefit from having a single su...

ECONOMICS

Mol Group approves dividend and share split

2017-04-14 09:31:25
Mol Group held the Annual General Meeting in Budapest, where shareholders approved the report of the Board of Directors regarding finances for the year 2016 and approved consolidated financial s...

ECONOMICS

PM Grindeanu: Insolvency seems to have become national sport

2017-04-13 19:13:42
Prime Minister Sorin Grindeanu has asked the Finance Ministry and the National Tax Administration Agency (ANAF) to come up, by May 15, with a careful analysis of the state of affairs over the pa...

ECONOMICS

Airbus Helicopters and IAR sign exclusive agreement for H215M in Romania

2017-04-13 17:36:39
Airbus Helicopters and IAR have signed an exclusive cooperation agreement for the heavy twin engine H215M multi-role helicopter. IAR will become the prime contractor for the H215M for any future...

ECONOMICS

ALD Automotive to launch leasing product for electric and hybrid vehicles in Romania

2017-04-13 14:24:50
French-based ALD Automotive Romania, one of the largest operational leasing and fleet management companies on the local market, launches first operational leasing product for electric and hybrid...

APPOINTMENTS

Manuela Ciugudean-Toma is the new marketing and communication leader for PwC in South-Eastern Europe

2017-04-12 16:35:58
Manuela Ciugudean-Toma joined PwC and will coordinate the marketing teams in 11 countries in South-Eastern Europe. She will be responsible for developing an integrated PwC marketing and communic...

ECONOMICS

Government to approve decentralisation strategy, says PM Grindeanu

2017-04-12 10:23:21
Prime Minister Sorin Grindeanu said the Government on Wednesday will approve a decentralisation strategy, adding that all the objectives that can be assigned to the management of the local admin...

ECONOMICS

Intrarom and Genesys receive Best Use of Technology award

2017-04-11 17:13:06
Intrarom, the Romanian subsidiary of Intracom Telecom, announced today that it has received the "Best Use of Technology Award - for Raiffeisen Bank" jointly with Genesys.

REAL ESTATE

P3 continues P3 Bucharest park expansion, starting new warehouse in 2017

2017-04-11 16:02:37
Pan-European logistics property investor-developer P3 started the construction of a new warehouse at P3 Bucharest park. The 13,900 sqm logistics facility will include 400 sqm of offices. P3 is a...

ECONOMICS

Black Sea Oil & Gas awards drilling rig contract for two offshore wells in the Black Sea

2017-04-11 11:11:46
Black Sea Oil & Gas SRL (BSOG) together with its co-venture partners announces the awarding of a contract for the drilling of two offshore exploration wells located in the XV Midia Shallow Block...

ECONOMICS

Suciu Popa assisted Enel in the acquisition of 13.6 per cent of E-Distributie Muntenia and Enel Energie Muntenia

2017-04-11 10:37:51
Suciu Popa assisted Enel Investment Holding B.V. in finalizing the acquisition of 13.6 per cent of the share capital of E-Distributie Muntenia S.A. and Enel Energie Muntenia S.A., which increase...

REAL ESTATE

P3 expansion in 2017 starts with 243 million Euro Spanish portfolio acquisition

2017-04-10 15:45:09
Pan-European logistics property investor-developer P3 has started its latest phase of expansion with the acquisition of a 322,500 sqm portfolio of 11 logistics and distribution warehouses in Spa...

ENERGY

Enel acquires 13.6 per cent of the Romanian subsidiaries E-Distributie Muntenia and Enel Energie Muntenia

2017-04-10 15:11:58
Enel S.p.A. (Enel) announces that its wholly-owned subsidiary Enel Investment Holding B.V. (EIH) has today finalised the acquisition from SAPE S.A. (SAPE, the Romanian state-owned holding compan...

ECONOMICS

PM Grindeanu: Switchover to Euro only after Romanians' salaries are close to other EU states

2017-04-10 12:51:58
Prime Minister Sorin Grindeanu said on Monday that the switchover to the Euro will be possible only after the Romanians' incomes get close to earnings in other European Union member states, acco...

REAL ESTATE

Almost 100,000 sqm industrial property deals brokered by JLL in T1

2017-04-10 11:37:29
Real estate consultancy JLL Romania has brokered almost 100,000 sqm industrial and logistics deals in T1, for companies such as Profi, NOD, Tibbett Logistics, KLG and Kuehne + Nagel.

ECONOMICS

Oil prices rise on strong demand and uncertainty over Syria conflict

2017-04-10 09:54:54
Oil prices rose on Monday, supported by strong demand and uncertainty over the conflict in Syria, although another run-up in U.S. drilling activity kept a lid on gains, Reuters news reads.

ENERGY

Romelectro to double its profit and revenues this year

2017-04-07 15:36:09
Romelectro, one of the most important EPC contractors in Romania for complex projects in the energy field, wants to double its profit and revenues for 2017, based on current portfolio, said Cris...

REAL ESTATE

Immofinanz recorded a loss of 182 million Euro for 2016 financial year

2017-04-07 14:40:19
Immofinanz group posted a loss of 182 million Euro for abbreviated 2016 financial year, the result negatively influenced by Russia and valuation effects, a press release shows. Net profit (inclu...

ECONOMICS

US and Israel show interest in developing Romania's irrigation system

2017-04-06 15:24:13
The United States and Israel are interested in investing in the recovery of the irrigation system of Romania, Romania's Ministry of Agriculture and Rural Development reported in a press statemen...

ECONOMICS

GE Healthcare to provide 900,000 Euro equipment for Emergency Clinical County Hospital Cluj Napoca

2017-04-06 14:39:14
Emergency Clinical County Hospital Cluj Napoca, one of the most important public hospitals in Romania, enhanced its diagnostic imaging capabilities with a Magnetic Resonance Imaging (MRI) system...

ECONOMICS

PM Grindeanu: Trips to Israel and Austria - perfect opportunities to improve political, economic relations

2017-04-06 14:11:03
Prime Minister Sorin Grindeanu stated that the trips he will take in May to Israel and Austria will be “the perfect opportunities” to improve political and economic relations between Romania...

ECONOMICS

Deloitte: Local M&A market is going through a favourable time

2017-04-05 14:51:04
After a record breaking fourth quarter of 2016, the first quarter of 2017 has brought a correction in the value of significant M&A transactions in Romania, with a disclosed amount of 368 million...

REAL ESTATE

Retail market in 2017 to be dominated by strip malls and new retail concepts, says Colliers

2017-04-05 14:10:05
Romanian retail market will continue to grow this year, with 180,000 sqm to be delivered, according to data from Colliers International. The biggest retail amount is represented by strip mall pr...

ECONOMICS

Caracatzanis, Renault Romania: We uphold measures to support the development of new vehicle market

2017-04-05 12:19:05
Director of Renault Romania, Yves Caracatzanis declared that the French group upholds the measures that support the new vehicle market development, Rabla scrappage programme being important beca...

AGRIBUSINESS

Agricover Agri-Business posts 12.2 million RON gross profit last year

2017-04-05 11:58:09
Agri-Business division of Agricover Holding reached a gross profit of 12.2 million RON (2.7 million Euro) in 2016 and 1.14 billion RON (253.3 million Euro) turnover, four per cent decrease compa...

ECONOMICS

Bacau to become Romanian Youth Capital

2017-04-05 10:45:04
Bacau, one of the biggest cities in Romania's Moldova region, will be the Romanian Youth Capital between May 2, 2017 and May 1, 2018.

APPOINTMENTS

Albalact appoints Giampaolo Manzonetto as new general director

2017-04-04 16:45:01
Giampaolo Manzonetto has been appointed as the new general director of Albalact Romania, company which is controlled by Lactalis Group. Manzonetto is the general director of Lactalis Romania and...

ECONOMICS

Government to set up digital services agency

2017-04-04 14:29:00
The Government will set up a public agency for cloud and digital services under a public-private partnership, Communications Minister Augustin Jianu told a specialist conference, according to Ag...

ECONOMICS

EU-Canada economic and trade agreement provides worldwide commercial opportunities for Romania, says CCIR

2017-04-04 14:05:56
The comprehensive economic and trade agreement between the European Union and Canada (CETA) means actual new opportunities for Romania to exceed the borders of Europe thanks to an almost full re...

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