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

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 pu...

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

Lately, Romania confronted with extreme, unpredictable meteorological phenomena that have caused major damages, in large areas, to electricity distribution networks.

Orbis turnover increased to 62 million Euro in Q1

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, representing y...

Deloitte Romania appoints Alexandru Reff as new country managing partner
Cushman & Wakefield Echinox expands its retail department with new appointment
Banca Transilvania posts 246 million RON profit in the first quarter of 2017
Greg Konieczny, FP: We really need a miracle to think about Hidroelectrica's IPO this year
Read all News >>

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POLITICS

President Iohannis received at the White House by US Vice-President, Joe Biden

Romania's President Klaus Iohannis said that the US Vice-President, Joe Biden, voiced his satisfaction over Romania's progress with its fight against corruption

ECONOMICS

Medical staff salaries have grown by 25 per cent as of 1 October

Medical staff salaries will increase by 25 per cent starting from 1 October, a rise that will benefit more than 200,000 employees in the health system, according to Mediafax

ENERGY

Romania to renounce Russian natural gas due to non-consumption

Due to the decrease of natural gas consumption, Romania is about to attain its independence from the natural gas imported from the Russian Federation

INFRASTRUCTURE

Softronic inaugurates its second Hyperion train

Softronic Craiova inaugurated last week its second multi-unit Hyperion train through a maiden voyage that left the railway station of Craiova, at 7:30 am, and arrived in Bucharest′s Northern Railway Stati...

INVESTMENTS

Sonaca Aerospace Transilvania received 5.4 million Euro from Romanian authorities to invest in the aerospace sector

Sonaca Aerospace Transilvania, advised by Noerr law firm through the entire investment project, obtained from the Romanian authorities a grant in amount of 24.1 million RON (5.4 million Euro), according to a pr...

INVESTMENTS

Elektrokontakt Romania to receive state aid for an 18 million Euro investment

EKR Elektrokontakt Romania, manufacturer of cabling solutions for the automotive industry and part of the German group Nexans, will receive state aid of nearly 40 million RON (almost nine million Euro) for an i...

INVESTMENTS

Chimcomplex Borzesti to finalise a 14-million Euro plant

Romanian chemical manufacturer Chimcomplex Borzesti completed an investment of 14.35 million Euro into a unique plant in Romania in terms of energy efficiency, which allows the plant to significantly reduce uti...

INVESTMENTS

Heidi Chocolat opens a new production line in Bucharest factory

Chocolate manufacturer Heidi Chocolat opened a new production division within its factory in Bucharest, a project that was started in 2014 and is due to be completed next year, with a total investment of 15 mil...

AGRIBUSINESS

Romania receives 11.1 million Euro through a 500-million Euro EU programme to support farmers

Farmers in Romania will benefit from funding of 11.1 million Euro from the European Commission, within a programme totalling 500 million Euro, intended to support European farmers affected by lower prices of po...

GREEN

Environment Minister: We will act against Volkswagen to pay the environmental tax differences

Romanian authorities will ask Volkswagen to pay the difference in the environmental tax which will result from the reclassification of the engines with emissions problems, so car buyers will not be affected fro...

REAL ESTATE

Skanska acquires plot in central-western Bucharest

Real-estate developer Skanska announced it has completed the transaction regarding the purchase of a plot over 21,000 sqm located in the central-western part of Bucharest


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Reports

REPORTS

Debt crunch effects are far from over: Lending picks up, but trust is still low

While the Romanian government gloats over the positive economic results of the past period, banks pick themselves up off the floor and try new lobby moves to regain consumers‘ trust. As lending picks up, companies seem to recover some ground, while new insolvency rules emerge in the retail and households sector, writes Bogdan Tudorache

Features

BUSINESS LEADERS

Bogdan Padiu, Teamnet Group: More than 40% of our projects will be regional by 2018

Innovation, ambitious plans and Romanian intelligence have fuelled Teamnet Group's development over the past 14 years into one of the most important IT&C integrators in the region, with annual revenues close to 90 million Euro. The group plans to further capitalize on its vast expertise and capabilities in delivering complex products and projects, aiming to enhance its strategic development at international level

COUNTRY FOCUS

Austrians thrive in a recovering market

As the second largest investor in Romania, Austria has not reached the top by leaps and bounds, but by a steady and constant growth. In the context of a healing economy, Alexandra Cioboata (Lopotaru) talks to Austrian Ambassador Gerhard Reiweger and major players in order to stress the development of Austrian business community in Romania this year

SECTOR ANALYSIS

Operational leasing still hitting the gas. How much fuel is left?

Although still in its infancy compared to other countries, Romania's operational leasing industry saw constant growth in past years and specialized companies are confident that everything will keep coming up roses in the following period, especially over the next five years when it will witness double-digit growth y-o-y. Alexandra Cioboata (Lopotaru) talks to major players to detail their development in the first half of 2015

COUNTRY FOCUS

The German approach: cautious optimism

Romania and Germany have always maintained tight economic bonds, but since the election of Klaus Iohannis as Romania's President the cooperation between countries seems to have deepened. German investors are currently more optimistic towards the future compared to previous years, but still prefer to keep a prudent eye open. Alexandra Cioboata (Lopotaru) talks to the German Ambassador, to AHK's GM and to other important players

BUSINESS LEADERS

OMV Petrom: Reaching the 12 billion Euro investment mark

This year, OMV Petrom will invest one billion Euro, even if its first-half result was deeply affected by the steep descend in oil prices, the company`s CFO Andreas Matje tells The Diplomat - Bucharest. The company's net profit dropped about 25 per cent in the first six months of 2015, and the Capex (Capital Expenditure) is expected to fall by 30 per cent this year. By Alexandra Cioboata (Lopotaru) & Bogdan Tudorache

COUNTRY FOCUS

The Chinese good intention

Even built on the 65-year historical dialogue tradition between Romania and China, the bilateral trade exchanges and investment intentions of Chinese investors resulting in concrete projects in Romania are still moving in slow motion. The reasons are various, from the unstable predictability and multiple changes of Romanian fiscal and law setting, the multitude of guarantees asked by the Chinese partners, to the lack of a proper bu

 
 
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