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ECONOMICS

Societe Generale European Business Services reaches 1,000 employees in the shared service in Bucharest

2017-06-15 13:22:27
Societe Generale European Business Services, the shared service center for Societe Generale Group, has reached 1,000 employees due to an accelerated growth over the last three years. Societe Gen...

ECONOMICS

UNSAR launched its own financial education platform for the insurance industry

2017-06-12 16:38:19
The National Association of Insurance and Reinsurance Companies in Romania (UNSAR) has launched its own online financial insurance education platform, the first such project in the insurance ind...

ECONOMICS

Telekom and Ericsson presented the 5G technology in Romania

2017-06-12 12:57:46
Telekom Romania and Ericsson have brought the next generation of wireless technology one step closer to Romanian people, after conducting in Bucharest the first 5G demonstration in South Eastern...

ECONOMICS

Cristian Covaciu (IPEC) to represent Romania at EY World Entrepreneur of The Year 2017

2017-06-07 12:05:55
The seventeenth edition of the EY World Entrepreneur of the Year starts today in Monte Carlo and will end on June 11, 2017. 59 qualified entrepreneurs from 49 countries will compete for the gran...

ECONOMICS

Tourist number up by 11 per cent in April

2017-06-06 16:37:26
The number of tourists this April reached 808,700, up 11.5 per cent year-on-year, the National Institute of Statistics (INS) said in a release, according to Agerpres.

ECONOMICS

New law on ports administration would be very damaging for Romanian state budget, Fondul Proprietatea says

2017-05-24 14:00:47
Fondul Proprietatea is concerned by the renewed steps to approve the draft law amending the Government Ordinance on ports administration, which was re-examined and approved through an emergency ...

ECONOMICS

Vienna Insurance Group posts profit of 110 million Euro in Q1

2017-05-23 10:58:47
Vienna Insurance Group reported a profit before taxes of around 110 million Euro in the first quarter of 2017, according to a press release.

ECONOMICS

Eberspaecher forecasts slight increase in revenue for 2017

2017-05-16 15:44:04
The German automotive supplier Eberspaecher forecasts sustained positive income development with a slight increase in revenue for 2017, a press release shows.

ECONOMICS

Austria holds over 14 per cent of all foreign investments in Romania

2017-05-09 16:36:24
The Austrian investors see Romania as an excellent investment destination and the largest market in the South-Eastern Europe, according to Gerd Bommer, the Austrian Embassy Commercial Counsellor...

ECONOMICS

UPC Romania posts six per cent increase in Q1 revenues

2017-05-08 16:52:44
UPC Romania, part of Liberty Global group, has seen an increase of six per cent in terms of revenues in Q1 2017, up to 178.4 million RON (39.6 million Euro), a press release shows.

ECONOMICS

Borza: Hidroelectrica would get one billion Euro for listing on the stock exchange

2017-05-08 15:33:10
Hidroelectrica could get one billion Euro from listing on the stock exchange if the process would run this year, but the funds should go to the state budget, as the energy producer does not need...

ECONOMICS

Erste Group posts net profit of 262 million Euro after Q1

2017-05-05 10:09:18
Erste Group registered a net profit of 262.2 million Euro after the first quarter of 2017, a press release shows.

ECONOMICS

Business Lease Romania opens its first regional centre in Cluj-Napoca

2017-05-04 16:20:47
Business Lease Group, a Dutch company specializing in providing full mobility solutions to companies in Central and Eastern Europe, opens a new operational centre in Cluj. This expansion aims to...

ECONOMICS

Faurecia to develop interior and safety technologies for self-driving cars

2017-05-04 10:57:24
French car parts supplier Faurecia said it signed a partnership agreement with German company ZF to develop interior and safety technologies for self-driving cars, according to Reuters.

ECONOMICS

UPS generates 6.2 per cent revenue growth in Q1

2017-05-03 12:33:57
UPS announced first-quarter 2017 operating results with revenue growth across all segments. The company improved earnings per share by 3.9 per cent versus the same period in 2016. The improved...

ECONOMICS

Apple posts fall in iPhones sales

2017-05-03 11:16:42
Apple Inc reported a fall in iPhone sales for the second quarter, indicating that customers had held back purchases in anticipation of the 10th-anniversary edition launch of the company's most i...

ECONOMICS

Oltchim achieved 2.2 million Euro gross profit in Q1 2017

2017-05-03 10:39:31
The consortium of legal administrators formed by Rominsolv SPRL and BDO Business Restructuring SRL together with the executive management of the company and the special administrator informs tha...

ECONOMICS

IMF approves second loan tranche to Moldova

2017-05-02 14:17:06
The International Monetary Fund said its board has approved the disbursement of a second loan tranche to Moldova worth 21.5 million USD, according to Reuters.

ECONOMICS

TotalSoft appoints Yusuf Onder Eren as CEO

2017-05-02 12:08:52
TotalSoft, one of the leading software providers in Romania, announces the appointment of Yusuf Onder Eren as Chief Executive Officer, to drive the company's international development, as well a...

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...

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.

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...

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 ...

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...

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.

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...

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...

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.

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...

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Read in the Print Edition
Romanian Energy Awards 2017: performance and exceptional accomplishments

The Diplomat - Bucharest celebrated the winners of 21 assigned categories for both conventional and renewable energy, within a prestigious event continuing the annual tradition of acknowledgment of performance ...