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ECONOMICS

Romanian insurance sector doubles profit in 2017

2018-06-15 11:58:45
The insurance sector in Romania doubled its net profit last year to 508 million RON (110 million Euro) from 251 million RON in 2016, according to profit.ro.

ECONOMICS

IMF criticizes Romania's low level of public investments

2018-06-07 11:00:09
A document published by the International Monetary Fund (IMF) after consultations with Romania says that a more cautious fiscal discipline would help rebalance Romania’s economy and lessen the...

1 Comment

ECONOMICS

Vienna Insurance Group posts growing profit in Q1 2018

2018-05-23 15:22:22
Vienna Insurance Group (VIG) reports further improvement in all key figures for the 1st quarter of 2018 compared to the same period in the previous year.

ECONOMICS

Romania's new cars sales hit 10-year record

2018-05-21 14:08:29
Sales of new cars in Romania rose by 27.8 per cent in the first four months of this year, to 51,853 units, a 10-year high, according to the Automotive Manufacturers and Importers Association (AP...

ECONOMICS

Employees in Bucharest, Cluj, Timis and Ilfov best paid in 2018

2018-05-21 14:03:49
Employees in Bucharest and the counties of Cluj, Timis and Ilfov are the best paid this year in terms of net average monthly earnings. At the opposite end are employees in the counties of Bistri...

ECONOMICS

Deloitte Romania and Reff & Associates advised MAS in acquiring Militari Shopping Center

2018-05-16 14:05:34
Deloitte Romania and Reff & Associates, member of Deloitte Legal in Romania, have advised MAS Real Estate in the acquisition of Militari Shopping Center from Atrium European Real Estate in a tra...

1 Comment

ECONOMICS

Pillar 2 is a fundamental tool for pension savings, says Foreign Investors Council

2018-05-16 12:44:59
The Foreign Investors Council (FIC), which brings together companies hiring approximately 200.000 people, is worried by possible policy measures affecting the three-pillar pension savings system...

1 Comment

ECONOMICS

OTP Bank Romania's profit increased 18 per cent in Q1 2018

2018-05-15 14:05:19
OTP Group announces the financial results for the first quarter of 2018. According to the report published in Budapest, which presents the consolidated result adjusted in accordance with the Gro...

1 Comment

ECONOMICS

Vodafone Romania posts 723 million Euro services revenues in 2017, up 2.5 per cent compared to last year

2018-05-15 12:43:02
Vodafone Romania announces the key performance indicators for the fiscal year ended March 31st, 2018, as reported by Vodafone Group Plc.

ECONOMICS

Romania surpasses Greece as 16th economy in the EU

2018-05-14 11:42:20
Romania went up one place to become the 16th largest economy in the European Union (EU) in 2017. With the highest economic growth rate in the EU, of 7 per cent, Romania surpassed Greece last yea...

ECONOMICS

Romania may be the biggest EU fund loser in 2021-2027, says Erste

2018-05-14 11:38:45
Romania will be the Central and Easter European (CEE) country most severely hit by the EU funds cut in the 2021-2027 financial exercise, according to estimates by Austrian group Erste.

ECONOMICS

Romania's inflation rate hits 5-year record high of 5.2 per cent in April

2018-05-14 11:30:06
Romania's annual inflation rate rose to 5.2 per cent in April, a new record level since June 2013, energy prices increases having a large contribution to the evolution of consumer prices, Nation...

ECONOMICS

CFA Romania analysts say EUR/RON average exchange rate to reach 4,71 RON in next six months

2018-05-14 11:26:00
Eight out of ten Chartered Financial Analyst Romania (CFA) Romania analysts say that the EUR/RON average exchange rate will reach 4,71 RON in the next six months and 4,75 RON in April 2019.

ECONOMICS

Goodyear reports net income of 75 million USD in Q1

2018-05-10 13:24:54
The Goodyear Tire & Rubber Company today reported results for the first quarter of 2018.

ECONOMICS

Romania's average net wage hit all-time high in March

2018-05-09 11:49:08
Romania's average net monthly earnings growth rate accelerated to 15.5 per cent year-on-year in March, from 11.2 per cent in February, due mainly to granting of Easter bonuses, National Institut...

ECONOMICS

Austrian group buys industrial laundry business in Romania for five million Euro

2018-05-09 11:36:17
Austrian group Salesianer Miettex, which provides industrial laundry services, has taken over a division of local group Promar Textil from Brasov and its brand, Kromatic, according to Romania In...

ECONOMICS

Vodafone to boost converged services by acquiring UPC Romania

2018-05-09 10:30:58
Vodafone Group Plc has agreed to acquire Liberty Global's operations in Romania, Germany, Czech Republic and Hungary, for a total enterprise value of 18.4 billion Euro as part of a major investm...

ECONOMICS

World Bank sees Bucharest on par with Western Europe capitals

2018-05-08 13:45:11
Capitals in Eastern Europe, such as Bucharest, Sofia, Budapest and Warsaw compete with almost any major city in Western Europe in terms of economic development, according to a World Bank report....

3 Comments

ECONOMICS

Nissan to stop sale of diesel cars in Europe

2018-05-08 11:30:22
Japanese carmaker Nissan has announced that it will gradually withdraw from the diesel vehicle market in Europe, in the context of weaker demand for diesel as customers worry about tax rises and...

2 Comments

ECONOMICS

Autonom buys BT Operational Leasing from Banca Transilvania

2018-05-07 11:42:27
The Banca Transilvania Financial Group and Autonom have closed a deal for the sale of 100 percent of shares in BT Operational Leasing. Through this deal, BT exits a field that was a secondary ni...

1 Comment

ECONOMICS

New registrations of passenger cars down by 0.7 per cent in Q1 2018

2018-05-07 11:28:28
New registrations of road vehicles for passenger transport decreased by 0.7 per cent in the first quarter of 2018 compared to the first quarter of 2017.

ECONOMICS

98,000 tourists spent around 6.4 million Euro in May 1 mini-holiday, says Romanian Tourism Federation

2018-05-03 13:16:36
According to the Federation of Romanian Tourism Business Owners (FPTR), around 98,000 tourists travelled to various resorts in the country during the May 1 mini-holiday, where they spent around ...

ECONOMICS

TeraPlast Group reported 97 per cent increase in turnover in Q1 2018

2018-05-03 11:03:36
TeraPlast Group, one of the main players in the construction market, posted a 131 million RON turnover in the first quarter of 2018 (1st quarter 2017: 67 million RON). The main contributors to t...

ECONOMICS

Fewer Romanians work from home than anywhere else in the EU, says Eurostat

2018-05-02 11:42:05
Romania has the lowest percentage of work from home employees in 2017, according to a recent Eurostat study released for Labour Day.

13 Comments

ECONOMICS

Dacia generates 18.5 per cent of Groupe Renault's global sales

2018-05-02 11:31:03
In the first quarter of this year, the Dacia brand, owned by French group Renault, sold 171,577 vehicles, a 13.8 per cent increase compared to the same period of 2017. Dacia's market share in th...

1 Comment

ECONOMICS

Romania to face extreme workforce crisis, KeysFin analysis finds

2018-05-02 11:24:49
According to a KeysFin analysis, Romanian companies are having difficulty finding employees who are skilled and have communication and teamwork abilities. After competing for good employees with...

1 Comment

ECONOMICS

Romanians spend most of their money on food and dwelling, study says

2018-04-30 10:33:07
Food and dwelling have the highest shares in the Romanians' monthly expenses although there are some differences between generations, according to a research by Golin and iSense Solutions.

ECONOMICS

Renault and Dacia set a new sales record for the first quarter

2018-04-27 11:50:38
In the first quarter of 2018, Group Renault increased by 5.4 per cent to 13.2 billion Euro, at constant exchange rates and perimeter.

3 Comments

ECONOMICS

Facebook posts record revenues for Q1, despite data privacy scandal

2018-04-26 15:10:59
Facebook Inc. shares rose on Wednesday after the company posted a surprising 63 per cent rise in profit as well as an increase in users, despite the fact that it has been going through a difficu...

ECONOMICS

New car sales increase by over 20 per cent in Romania in the first quarter

2018-04-25 13:28:39
New vehicle sales in Romania increased by 20.3 per cent in the first quarter of this year compared to the same period of 2017, reaching almost 36,000 units, according to data released by the Car...

ECONOMICS

Banca Transilvania posts 366 million RON profit in Q1

2018-04-25 11:44:59
Banca Transilvania registered a net profit of 366 million RON (78.7 million Euro) in the first quarter of this year, up 48.7 percent from the same period of 2017, due to rising operating fees an...

1 Comment

ECONOMICS

Contactless payments will be the norm by 2020, says Mastercard Romania

2018-04-24 11:49:46
In 2017, Romanians made 100 million contactless payments in Romania, via Mastercard and Maestro cards, representing 60-70 per cent of the total payments.

ECONOMICS

American auto parts producer closes factory in Northern Romania

2018-04-23 12:05:31
US auto parts producer TRW Automotive will close its wheel factory in Baia Mare, Nothern Romania.

ECONOMICS

Telekom Romania launches first loans in partnership with Alior Bank

2018-04-23 12:01:04
Telekom Romania, one of the biggest local telecom groups, has launched its first two loans in partnership with Polish lender Alior Bank.

1 Comment

ECONOMICS

The state of the economy is a reflection of public policy, says FIC

2018-04-20 13:44:22
The Foreign Investors Council (FIC) considers that recent negative economic data which drew the attention of politicians are the result of legislation that was adopted without proper impact asse...

ECONOMICS

Banca Transilvania to sell 350 million Euro worth of bonds

2018-04-20 11:23:26
Romanian lender Banca Transilvania wants to sell subordinated bonds worth 350 million Euro, with a 10-year maturity and a fixed or variable interest rate.

ECONOMICS

Romania wants to join the Asian Infrastructure Investment Bank

2018-04-19 13:50:40
Romania wants to join the Asian Infrastructure Investment Bank (AIIB) and will pay a 6.12 million USD installment this year for the membership.

ECONOMICS

Banca Transilvania launches online loans

2018-04-17 13:01:47
Banca Transilvania, the second-biggest lender in Romania, has launched an online loan that allows clients to borrow up to 5,000 Euro.

1 Comment

ECONOMICS

Deloitte Romania survey: 60 per cent of the CFOs find the fiscal and regulatory framework as unstable

2018-04-17 12:45:34
On the background of a falling unemployment and highest GDP growth in Central and Eastern Europe, Romanian CFOs enjoy an overall positive business climate, yet they focus more on consolidation r...

ECONOMICS

Unicredit estimates economic slowdown in Romania

2018-04-13 09:45:40
The economic growth rate in Romania will slow down to 4.4 per cent in 2018, from close to 7 per cent last year, and the government risks to register budget deficits exceeding 3 per cent of GDP i...

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