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POLITICS

Traian Basescu: We need the gold from Rosia Montana

The Rosia Montana gold mining project must be carried out, because Romania needs gold for its national reserves, said Romanian President Traian Basescu. He mentioned the rise in the price of gold over the past ...

ECONOMICS

Government to freeze public sector hiring and bonuses, halt pension hikes and introduce new property tax

Romanian public sector employees will receive no vacation, gift or meal vouchers until 2014, no bonuses until 2013 and will only be compensated for overtime with time off in lieu, under the Governments fiscal-...

ENERGY

EC law to support renewable energy projects through green certificates

The European Commission (EC) has approved a law that grants incentives in the form of green certificates to investments in renewable energy projects. Law 220 was initiated by the Romanian authorities as early a...

APPOINTMENTS

Ezio Salvai is the new chief executive officer (CEO) at Intesa Sanpaolo Bank Romania. He will be responsible for coordinating all the banks activities and strategy. Salvai was president of the management board...

APPOINTMENTS

Florin Golovatic has been appointed president of the board and general manager at Uniqa Asigurari. He had previously served as CFO for the insurance company since 2010. Golovatic brings extensive expertise on t...

APPOINTMENTS

Monica Hodor is the new CFO of Enel Romania, and will coordinate the accounting, fiscal, financial and controlling departments for entities within the power company. She replaces Vincenzo Ranieri, who has compl...

APPOINTMENTS

Jim Barber, a 26-year UPS veteran, has been appointed president of the UPS Europe Region with responsibility for Europe, the Middle East and Africa. He succeeds the retiring Wolfgang Flick as the regions presi...

APPOINTMENTS

Oana Scrobota has joined Bostina si Asociatii, to which she brings her expertise in the fiscal field to meet the increasing demand for this practice segment seen by the 130-strong team of attorneys at the law f...

APPOINTMENTS

Monica Ene-Pietrosanu will occupy the position of Romania R&D country manager at Intel Romania Software Development Center (IRSDC). Previously, she has worked for Microsoft in positions such as support grou...

INVESTMENTS

Rewe OKs EUR 45 million expansion plans for Penny Market

German retailer Rewe has said it will invest EUR 45 million in expanding the discount chain Penny Market by 13 new units, to reach a total of 129 locations in Romania by the end of 2011, according to a company ...

INVESTMENTS

Alfred C. Toepfer declares major investment plans for Romania

Grain trader Alfred C. Toepfer, which has EUR 300 million worth of businesses in Romania, has announced plans to develop 12 local silos along the banks of the Danube, another in western Romania and an export te...

INVESTMENTS

British fashion brands expand in Romania

British fashion retailer Next has opened a new store in Bucharest inside AFI Palace Cotroceni. The store, selling clothes for children, will occupy a 280-sqm sales area on the malls ground floor. The Next bran...

INVESTMENTS

Romgermed invests EUR 20 million in private hospital in Bucharest

Private medical services group Romgermed, controlled by businessman Dorian Sam Schwartz, has started work on building a private hospital in Bucharest, with an investment of EUR 20 million. The hospital will hol...

INVESTMENTS

Conarg opens EUR 20 mln hotel in Pitesti

Romanian businessman Valentin Visoiu, who controls the Conarg group of companies, has opened the four-star hotel Ramada in Pitesti, following an investment of EUR 20 million. The project has been developed by C...

INVESTMENTS

Bucharest to see two theme parks worth EUR 31 million in the next year

The Rami Dacia company is investing EUR 25 million by the end of September in launching Tetra Park, a 30,000-sqm entertainment park in Bucharests sixth district. The second entertainment development in Buchare...

DRIVING

Mercedes SLK gets A-OK

The third generation of one of the hottest and most successful convertibles, the Mercedes SLK, is hitting the streets in a big way! Trying to get away from the models image as a convertible for women, the de...

CITY LIFE

Bryan Ferry comes to Bucharest for One Night

British singer Bryan Ferry, founder of the legendary band Roxy Music, will play Bucharest on September 18, according to One Event, the company organizing the show

EVENTS

RECYCLE BY CYCLE

RBS Romania became the main partner for Recicleta, a project developed in Bucharest by the Association for Sustainability ViitorPlus. Recicleta is the first paper recycling project that generates no pollution. ...


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Reports

REPORTS

Romanian aeronautics industry prepares for lift-off

At Berlins main airport, an Airbus 320 belonging to Air Berlin is getting ready for takeoff. It gets the green light and starts taxiing down the runway. Minutes later, the plane is airborne. This is the first Airbus put together using components made in Romania, after Premium Aerotec, a division of the French-German group EADS, opened a new production facility in Ghimbav, Brasov County. By Cerasela Marin

REPORTS

Harvesting hope from stem cells

Its a service that has only recently appeared on the Romanian market, but is already developing fast. The harvesting of stem cells from placenta blood is a market that has grown tremendously in the past five years. By Cerasela Marin

Features

EDITORIAL

How many cars does it take to drive the economy forward?

One of the indicators that show us how a countrys economy is faring is undoubtedly consumption. Lets take for instance the auto market

BUSINESS LEADERS

Positive Signals on a difficult market

What does it take to set up an insurance company in Romania during a recession? Leslie Breer, president of the management board of Signal Iduna Asigurari de Viata, tells The Diplomat-Bucharest the companys milestones, its results so far and where it will go from here. By Dana Verdes

COUNTRY FOCUS

Chinese companies are branching out

In the last two decades, Chinese investors have seen opportunities in Romania in areas such as infrastructure, construction or tobacco. The investment range could be expanded with the help of authorities and a better capitalization of custom fees which would decrease the black market of Chinese imports, especially in the main local import hub, Constanta harbor. By Magda Purice

SECTOR ANALYSIS

Romanian healthcare system awaits life-saving cash injection

Romanias public healthcare system still has no idea how to shake off its ailments and embrace the 21st century. The sector has received blow after blow. From the Governments side, the legislation is incomplete, cluttered and unclear and money is short. By Cerasela Marin

EXPERTS PLATFORM

On the long regional road

Romanias fortunate position, by the Black Sea and the Danube, could help it to support cluster creation and become a regional hub but location alone is not enough. Costin Lianu, manager within the Ministry of the Economy, tells The Diplomat-Bucharest the advantages of clusters, the immediate action plan and the financial resources that could be leveraged to support this strategy. By Magda Purice

DECISION MAKERS

Meeting of the Romanian Diplomacy

An event of both symbolic and pragmatic significance Minister Baconschi, this week you are holding the Annual Meeting of the Romanian Diplomacy (RADR). What is the significance of that event?

SECTOR ANALYSIS

Polishing a scratched local furniture market

What would you do to save and even to boost your business if you were the manager of a Romanian furniture producer in this troubled period? Several furniture firms outlined to The Diplomat-Bucharest their survival strategies on a market that has dropped by a third over the past three years. By Magda Purice

SECTOR ANALYSIS

Insolvency firms go for broke

While construction and transportation companies have been the most likely to fall prey to insolvency, specialists say that small and medium retailers, pharmaceuticals, IT and heavy industry firms are starting to join them in higher numbers. By Dana Verdes and Magda Purice

SECTOR ANALYSIS

Car parts sector shifts Romanias GDP up a gear

A cog in the engine of Gross Domestic Product (GDP), the car parts industry is a big driver of local exports. And Romania still has the capacity to attract investments in this sector local labor costs, for example, are ten times cheaper than in Germany. By Cerasela Marin and Magda Purice

SECTOR ANALYSIS

The public healthcare system is dead! Long live the private system!

As the public medical system sinks deeper and deeper, with no reforms and no stable healthcare ministers to pull it out of the quicksand, private investors are making plans for expansion and counting their increasingly larger profits. Faced with growing demand, market players stand ready to double the number of private hospitals across Romania. By Dana Verdes and Cerasela Marin

COUNTRY FOCUS

Swiss franc about local market obstacles

The economic whirlwind in which Romania has been the past few years has given foreign investors quite some thrills. And Swiss firms are no exception. They remain interested in Romania, despite a drop in business volume, and the country is still one of main Eastern European destinations for Swiss investments, because of cheap labor and a large production and consumption capacity. By Cerasela Marin

COUNTRY FOCUS

Vive les investments!

Companies such as BRD-Groupe Societe Generale, Orange, Air France KLM, Renault, Sanofi Aventis, Apa Nova and Michelin have announced hundreds of millions worth of investment in Romania despite the turmoil. With bilateral trade of EUR 5.5 billion last year a 23 percent hike y-o-y France is a solid foreign investor on the local market

COUNTRY FOCUS

US firms analyze state of market

With American giants Ford, Smithfield, Procter&Gamble and Cargill having already set up base in Romania, companies like ExxonMobil and Chevron could follow suit in the next few years. The Diplomat Bucharest asked top US companies how they are coping with local operations and what their investment plans here are. By Dana Verdes

SECTOR ANALYSIS

Romanian infrastructure tries to avoid becoming road to nowhere

Things have started moving in Romanian infrastructure. At least that is the official line from the authorities, who are talking up EUR 3 bln worth of motorway projects currently under way, due by 2012. By Cerasela Marin

BUSINESS LEADERS

Tapping into water investment

With some RON 200 million of varnished investments and plans to expand in other cities in Romania, Apa Nova is looking for more local investment opportunities. Bruno Roche, the companys GM and president of the French Chamber of Commerce, Industry and Agriculture in Romania (CCIFER), told The Diplomat Bucharest Apa Novas latest plans for local lease contracts as well as his realistic take on the Romanian business environment

EDITORIAL

How the small became big

One of the hot topics of recent weeks has been Romanias potential territorial re-division. But nobody knows the real reasons why the idea was made the subject of public debate...

COUNTRY FOCUS

Jacques Reber - Swiss‑Romanian Chamber of Commerce president

SECTOR ANALYSIS

Anca Boagiu: We must get Romania back on track

Eleven years after Anca Boagiu, minister of transport, launched a bold program for national infrastructure development in her first term out of which only the motorways were not constructed the plans have been changed.

 
 
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Most read articles
» Positive Signals on a difficult market
» Harvesting hope from stem cells
» On the long regional road
» Meeting of the Romanian Diplomacy
» Chinese companies are branching out
» Car parts sector shifts Romanias GDP ...
» Mercedes SLK gets A-OK
» The public healthcare system is dead! ...
» Romanian healthcare system awaits life...
» Romanian aeronautics industry prepares...