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BUSINESS LEADERS

Orange Romania: Two decades of growing innovation and leading the digital transformation

Interview with Liudmila Climoc, CEO, Orange Romania

BUSINESS LEADERS

Coaching - a journey one must never underestimate

If you are passionate about your work and you welcome challenges, but your company does not offer you any opportunities to grow, then you know it's time for a change The year 2008 was a turning...

BUSINESS LEADERS

Liceul Teoretic International de Informatica Bucuresti - An authentic model of education

In every family, the problem of choosing the best school is essential and argued about for a long time because school years are defining for the development of the early adolescent. We all want ...

BUSINESS LEADERS

Jeffrey Puritt, TELUS International: CSR is Good Business and Good for Business!

Committed to supporting the communities where they operate, TELUS International invests in excess of 100,000 Euros in corporate social responsibility (CSR) programmes and their employees volunte...

REPORTS

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...

COUNTRY FOCUS

French investments in Romania: Building on solid foundation

France and Romania became business partners in the early '90s and since then the bonds have been built on trust and mutual commitment. Currently, French investors have gained a leadership positi...

COUNTRY FOCUS

US investments in Romania: Tremendous potential

One of the fastest growing economies in Europe, Romania is an attractive market for foreign investors in several industries, with potential yet to be developed. The Diplomat - Bucharest talked w...

SECTOR ANALYSIS

Transport and Logistics: Plenty more to come

The vacancy rate for logistics and industrial spaces in Bucharest is close to zero, with low deliveries of new projects and high demand in the first quarter. According to data from JLL Romania, ...

SECTOR ANALYSIS

Future challenges for Romania's energy industry

With a National Strategy draft still to be approved, Romania faces many challenges regarding the energy market to find a way for major investments that are critically needed to enhance the devel...

BUSINESS LEADERS

Jeffrey Puritt, TELUS International: CSR is Good Business and Good for Business!

Committed to supporting the communities where they operate, TELUS International invests in excess of 100,000 Euros in corporate social responsibility (CSR) programmes and their employees volunte...

BUSINESS LEADERS

Orange Romania: Two decades of growing innovation and leading the digital transformation

Interview with Liudmila Climoc, CEO, Orange Romania

BUSINESS LEADERS

Coaching - a journey one must never underestimate

If you are passionate about your work and you welcome challenges, but your company does not offer you any opportunities to grow, then you know it's time for a change The year 2008 was a turning...

BUSINESS LEADERS

Liceul Teoretic International de Informatica Bucuresti - An authentic model of education

In every family, the problem of choosing the best school is essential and argued about for a long time because school years are defining for the development of the early adolescent. We all want ...

POLITICS

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts and international bodie...

POLITICS

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minister, Agerpres reads.

POLITICS

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minister Viorel Stefan, Fore...

ECONOMICS

Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment.

ECONOMICS

Chinese delegation seeks investment opportunities in Romania

Prime Minister Mihai Tudose discussed at the Victoria Governmental Palace on Thursday about the opportunities to invest in Romania with an official delegation of the People's Republic of China, ...

ECONOMICS

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

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

Superbet bonds start trading on Bucharest Stock Exchange

Corporate bonds of Superbet Betting & Gaming S.A., one of the most important gambling operators in Romania, have started trading on the Alternative Trading System managed by Bucharest Stock Exch...

ECONOMICS

Vienna Insurance Group posts profit of 110 million Euro in Q1

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

BVB second place in the region by number of IPOs in H1 2017

Bucharest Stock Exchange (BVB) is the second market in Central and Eastern Europe where initial public offers (IPOs) were successfully concluded in the second quarter of this year, with a total ...

ECONOMICS

Fondul Proprietatea urges President Iohannis not to promulgate the Ports Law

Fondul Proprietatea has sent a letter to President Klaus Iohannis outlining several reasons that constitute, in the Fund's view, a strong basis for the non-promulgation of the recently adopted l...

ECONOMICS

EBRD launches energy efficiency framework for Romanian households

Supporting Romanian households to save energy and money, the European Bank for Reconstruction and Development (EBRD) is launching a 100 million Euro Green Economy Financing Facility (GEFF) for t...

ECONOMICS

EU bank supports expansion of Regina Maria private healthcare network in Romania

The European Investment Bank (EIB) is lending 15 million Euro to support the expansion of a private healthcare network in Romania, a press release shows. This agreement is backed by the guarante...

ECONOMICS

Business Lease posts four million Euro turnover in the first semester of 2017

Business Lease, international company providing complete mobility solutions through Operational Leasing, Car Fleet Management and Rental in Romania, closes its first semester of 2017 with a turn...

ECONOMICS

Romanian ruling coalition plans tax overhaul ahead of key parliament vote

Romania's ruling Social Democrats unveiled plans on Thursday to overhaul taxation from 2018, ditching a flat 16 per cent tax on income and profit that has attracted investment into the European ...

ECONOMICS

Deloitte: The M&A market has doubled in the first half of the year

The M&A market in Romania has reached 889 million Euro in the second quarter of the year according to public sources and disclosed transactions, more than double compared to the first quarter, a...

ECONOMICS

EIB lends one billion euro to Romania for transport infrastructure projects

The European Investment Bank (EIB) is lending one billion Euro to co-finance with European Structural and Investment Funds priority transport infrastructure projects totalling 6.8 billion Euro t...

ECONOMICS

Romania's sovereign fund to be launched in 2018

Romania's first sovereign fund for development and investments (FSDI) will be available starting January 1, 2018 and it will finance the developments of infrastructure alongside greenfield and b...

ECONOMICS

New trading symbol for Patria Bank shares on Bucharest Stock Exchange

Patria Bank shares, a credit institution that operates on the Romanian banking sector, are traded under a new symbol on the Bucharest Stock Exchange (BVB) market, following the successful merger...

ENERGY

General Electric to provide turbine technology for the new combined-cycle power plant in Iernut

General Electric (GE) has been awarded an order from the consortium Duro Felguera (DF Energy) - Romelectro for core technology in a new combined-cycle power plant from Romgaz in Iernut, Romania....

ENERGY

MOL Group partners with Evonik and thyssenkrupp for the Polyol Project

MOL Group has signed license agreements with Evonik and thyssenkrupp, to produce propylene oxide, a key component for the production of polyether polyols. MOL intends to become a significant pro...

ENERGY

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

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

ENERGY

CET Govora reached 30 million RON profit in H1 2017

Heat and electricity producer CET Govora registered a net profit of 30.6 million RON in the first six months of 2017, compared to a net loss of five million RON in the same period of last year....

ENERGY

Fondul Proprietatea accuses corporate governance weakening in Nuclearelectrica

Fondul Proprietatea warns of weakening of corporate governance in Nuclearelectrica, regarding the two new points proposed by the Ministry of Energy in the convening notice of Nuclearelectrica's ...

ENERGY

GE inaugurates its new Bucharest software center to support local growth

GE speeds up growth for its software and digital resources in Romania and kicks off the recruitment campaign for GE Power's Grid Software Solutions (SWS) center in Bucharest. The company intends...

ENERGY

Head of RWEA at the end of his mandate

The head of the Romanian Wind Energy Association (RWEA) Ionel David stepped down after his term at the helm of the association expired.

ENERGY

Hidroelectrica posts 165 million Euro profit in five months

Hidroelectrica registered a gross profit of 743.7 million RON (around 165 million Euro) in the first five months of 2017, representing an increase of 26 per cent compared to the same period in 2...

ENERGY

OMV Petrom starts work on new polyfuel unit at Petrobrazi

OMV Petrom says has started construction of a new Polyfuel unit at its Petrobrazi Refinery. The company says the new unit will allow conversion of LPG components into gasoline and middle distill...

ENERGY

Transgaz signs Memorandum of Understanding for the Vertical Corridor

Transgaz hosted the meeting between the representatives of the gas transmission system operators in Greece - DESFA, Bulgaria - BULGARTRANSGAZ, Romania - Transgaz, Hungary - FGSZ and ICGB - compa...

ENERGY

Enel enters the Romanian gas supply market for residential customers

Enel announces the entrance into the Romanian gas supply market, with offers designed for ease of use and predictability for residential customers, who can now benefit from having a single suppl...

ENERGY

Nuclearelectrica to restart negotiations for nuclear reactors 3 and 4 from Cernavoda in September

Negotiations for the construction of nuclear reactors 3 and 4 from Cernavoda will be restarted in September, according to Nuclearelectrica's Extraordinary General Meeting of Shareholders from Au...

ENERGY

Hunedoara Energy Complex to reduce its losses by 80 per cent this year

The Romanian Government adopted the 2017 budget for the Hunedoara Energy Complex (CEH), estimating that the losses of the state-owned company will be reduced by 80 per cent.

ENERGY

AFEER: Energy price will be higher next year, but not because of the liberalization of the market

The energy price will be higher next year, but not because of the total liberalization of the market as of 1 January 2018, but because of market conditions, said Ion Lungu, president of the Asso...

ENERGY

Mol Group net profit up by 24 per cent to 323 million Euro in Q1

Mol Group announced its financial results for Q1 2017, with net profit up by 24 per cent year-on-year to 323 million Euro. In the first quarter, all business segments (upstream, downstream, cons...

ENERGY

CEZ Group reports EBITDA of 466 million RON in 2016

CEZ Group in Romania reported in 2016 a profit before interests, taxes, depreciation, and amortization (EBITDA) of 466 million RON, eight per cent more than in 2015, the company representatives ...

ENERGY

Hidroelectrica appointed new Management Board

The Supervisory Board of Hidroelectrica has appointed three new members in the Management Board, President Bogdan Nicolae Badea and members: Marian Bratu and Mihai-Val Zdru.

ENERGY

E-Distributie Dobrogea invested 11 million RON to modernize Mircea Voda station

E-Distribution Dobrogea has invested about 11 million RON (2.4 million Euro) for the modernization of the Mircea Voda transformation station from Calarasi County, which supplies electricity thro...

INVESTMENTS

Continental and Orange to develop Timisoara Smart City project

Continental Romania, in partnership with Timisoara City Hall and Orange Romania, will develop a smart city project for the people of Timisoara. Citizens will be able to enjoy secure Wi-Fi in Vic...

INVESTMENTS

Airbus Helicopters and IAR sign exclusive agreement for H215M in Romania

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...

INVESTMENTS

Bog'Art to build IKEA's second store in Bucharest

IKEA has announced that Bog'Art will build its new store from Theodor Pallady area in Bucharest. The second store in Bucharest will be opened next year, following an investment of around 80 mill...

INVESTMENTS

British American Tobacco invests 60 million Euro to increase factory production in Ploiesti

British American Tobacco (BAT), one of the largest cigarette manufacturers in Romania, announced on Monday that this year, the company will invest 60 million Euro in the construction of a new pr...

INVESTMENTS

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

Business Lease Group, a Dutch company specializing in providing full mobility solutions to companies in Central and Eastern Europe, opened a new operational centre in Cluj. This expansion aims t...

INVESTMENTS

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

Austrian investors see Romania as an excellent investment destination and the largest market in South-Eastern Europe, according to Gerd Bommer, the Austrian Embassy Commercial Counsellor.

APPOINTMENTS

TotalSoft appoints Dania Selaru as EAS Executive Director

TotalSoft, one of the leading software providers in Romania, announces the appointment of Dania Selaru as Executive Director, to further develop and execute the company's Enterprise Application ...

APPOINTMENTS

Ana Hotels appoints Vasile Iuga as president of the Administration Council

Ana Hotels appoints Vasile Iuga as president of the Administration Council starting July 1. He will replace Alexandra Copos de Prada, who decided to dedicate to her business that she leads since...

GREEN

GreenWEEE to open a new plant in Campia Turzii

The Romanian company GreenWEEE International continues its growth strategy, thus doubling its production capacity to 100,000 tons per year.

APPOINTMENTS

Bayer Romania appoints Gerhard Waltl as head of the Pharmaceutical division

Starting with mid-June 2017, the Pharmaceutical division of Bayer Romania has a new leadership, following the appointment of Gerhard Waltl as Country Commercial Lead.

APPOINTMENTS

TotalSoft appoints Adina Gurgu as Chief Technology Officer

TotalSoft, one of the leading ERP and financial solutions providers internationally, announces the appointment of Adina Gurgu as Chief Technology Officer (CTO), who will be starting August respo...

APPOINTMENTS

Metropolitan Life appoints Carmina Dragomir as CEO in Romania

Metropolitan Life appoints Carmina Dragomir as CEO in Romania, starting October 1, after the approval of the board. Carmina Dragomir will take over this position from Emilia Bunea, who led the M...

INFRASTRUCTURE

FIC: High growth without infrastructure is not possible in the long run

The Foreign Investors Council (FIC) believes infrastructure is key for Romania's future development and it is also one of the three pillars Romania must focus on if it is to become one of the to...

INFRASTRUCTURE

Romanian construction sector down by 1.5 per cent in Q1

The total volume of construction works in Romania went down by 1.5 per cent in the first quarter of the year, while that of residential buildings went up by 77.2 per cent. On structure elements,...

INFRASTRUCTURE

European funds to be used for the modernization of road infrastructure in Iasi and Suceava

The Minister of European Funds, Rovana Plumb, has signed a financing contract for an investment in the modernization of the road infrastructure in the Iasi and Suceava counties through the alloc...

APPOINTMENTS

Michele Abbate was appointed as new CEO of Enel Energy and Enel Energy Muntenia

Michele Abbate is the new CEO of Enel Energy and Enel Energy Muntenia, the two companies owned by the Enel group in Romania.

APPOINTMENTS

Corneliu Bodea was reappointed as president of Romanian Energy Center

Corneliu Bodea was reappointed as president of Romanian Energy Center (CRE) with 244 votes, being the only candidate. His new mandate will last until September 2020.

INFRASTRUCTURE

Grindeanu: Construction of Pitesti-Craiova road to start in 2018

The construction of the new road between Pitesti and Craiova cities will start at the beginning of the next year, said PM Sorin Grindeanu, according to Business Review.

APPOINTMENTS

Franz Weiler is the new president of the Foreign Investors Council

The Board of Directors of the Foreign Investors Council (FIC) elected, for a one-year mandate, its new President, Franz Weiler. He is the CEO of Uniqa Asigurari and, during his past mandate in t...

REAL ESTATE

Colliers International appoints Sebastian Dragomir to lead the office department

The real estate consultancy company Colliers International strengthens its office spaces consultancy team by hiring Sebastian Dragomir for the position of Office Advisory Director.

REAL ESTATE

AFI Europe to develop AFI Brasov by 2019, its third shopping mall in Romania

AFI Europe sets the cornerstone of AFI Brasov, the company's third shopping mall in Romania and announces the advancement of construction works.

REAL ESTATE

Zacaria develops the first private industrial park in Craiova

The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, the Romanian real estate developer Z...

REAL ESTATE

Logistics and industrial spaces close to full occupancy in Q1

The vacancy rate for logistics and industrial spaces in Bucharest is close to zero, with low deliveries of new projects and high demand in the first quarter.

REAL ESTATE

Globalworth to become the sole owner of the Green Court Bucharest Campus

Globalworth Real Estate Investments has announced the acquisition of Building "C" of the Green Court Bucharest campus developed by the Swedish group Skanska, a press release shows. The gross tra...

REAL ESTATE

AFI Europe Romania receives LEED Platinum pre-certification for AFI Tech Park business campus

AFI Tech Park, the newest office project developed by AFI Romania, achieved LEED Platinum pre-certification, the most prestigious recognition awarded by the United States Green Building Council ...

REAL ESTATE

CTP invests over 13 million Euro for the expansion of CTPark Timisoara

CTP, the industrial parks developer, invests over 13 million Euro in the extension of CTPark Timisoara with 32,000 sqm, due to the increasing demand in the Western area of the country.

AGRIBUSINESS

IFC provides funding to support Romanian agribusiness

IFC, a member of the World Bank Group, is providing a 70 million RON (15.5 million Euro) loan to Agricover Credit IFN to increase access to financing for farmers in Romania and to support the co...

REAL ESTATE

Immofinanz's net profit reached 105.3 million Euro in the first half of 2017

Immofinanz recorded a significant increase in net profit to 105.3 million Euro in the first half of 2017 (H1 2016: -243.3 million Euro), a press release shows.

REAL ESTATE

CTP invests 15 million Euro in a new logistics park near Cluj-Napoca

The industrial parks developer CTP invests 15 million Euro in the development of a new logistics park near Cluj-Napoca. CTPark Cluj II will be located in Floresti and will have a total leasable ...

REAL ESTATE

Industrial spaces demand up by 50 per cent in H1 2017, says JLL

The total demand for industrial and logistics space continued to grow in the second quarter, so that by mid-year the leased area exceeded 350,000 square meters, 54 per cent more than the similar...

REAL ESTATE

Land transactions volume reached record high last year in Bucharest, says C&W Echinox

Last year in Bucharest the total land area transacted was of 110 ha, the highest volume recorded in the last ten years, according to C&W Echinox. In terms of value, land transactions amounted to...

REAL ESTATE

AFI Europe Romania posts increasing net operating income in H1 2017

AFI Europe Romania published its H1 2017 financial results, generating a Net Operating Income (NOI) from its income producing assets in Romania of 25 million Euro in H1, representing 11.5 per ce...

REAL ESTATE

Sinziana Pardhan to become new country head for P3 Romania

P3, one of Europe's leading logistics property investor-developers, has promoted Sinziana Pardhan to the role of Country Head in Romania. Pardhan, who was recently appointed as Acquisitions Dire...

REAL ESTATE

Skanska to develop new office project in Bucharest

Skanska starts the construction of the first phase of the Equilibrium office project, located in the northern part of Bucharest, in the Barbu Vacarescu - Floreasca area. The first building will ...

AGRIBUSINESS

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

Agri-Business division of Agricover Holding reached a gross profit of 12.2 million RON (2.7 million Euro) in 2016 on 1.14 billion RON (253.3 million Euro) turnover, a four per cent decrease comp...

REAL ESTATE

Portland Trust reached almost 80 per cent occupancy rate for Oregon Park project

Portland Trust, one of the most important real estate developers in Romania, announced a leasing contract for 35,000 sqm of office space in Oregon Park, accounting for 78.6 per cent of the total...

REAL ESTATE

CTP invests 18 million Euro to buy two logistics parks in Romania

CTP invests approximately 18 million Euro in the purchase of two properties in Ineu and Salonta from the Slovak-based company IPEC Group. Together, the properties comprise a total land area of 1...

REAL ESTATE

Globalworth to develop new headquarters for Groupe Renault Romania

Globalworth Real Estate Investments announces the acquisition of a 57,000 sqm land plot previously owned by Coca-Cola HBC Romania and the development of Groupe Renault Romania's new headquarters...

REAL ESTATE

C&W Echinox recruits Anamaria Tihu to expand its industrial department

Cushman & Wakefield Echinox consolidates its industrial department by recruiting Anamaria Tihu, a specialist with over 10 years' experience in sales. Anamaria Tihu will act as a Senior Consultan...

REAL ESTATE

IULIUS and Visma Software sign deal for 4,200 sqm in UBC 3 building within Openville Timisoara

The IULIUS Company and Visma Software, a Norwegian developer of business management software solutions, have signed a lease agreement for office premises within the United Business Center 3 (UBC...

REAL ESTATE

E van Wijk agrees new lease at P3 Bucharest park

Pan-European logistics property investor-developer P3 has signed a deal with Logistic E van Wijk, provider of integrated transport and logistics services, to lease 10,180 sqm of warehouse space ...

REAL ESTATE

Bucharest total office space take-up reached 100,000 sqm in Q1

Q1 2017 saw class A & B take-up reach approximately 97,300 sqm, according to Knight Frank Romania. There were 9,550 sqm delivered in two projects in CBD (Central Business District), and the aver...

REAL ESTATE

Colliers International to manage Phoenix Tower and Construdava office buildings in Bucharest

The real estate consultancy company Colliers International Romania was appointed by the Adam Europe Group to take over the management of Phoenix Tower and Construdava office buildings, a press r...

REAL ESTATE

Commercial property investments in Romania reached 530 million Euro in the first six months

In H1 2017, the total volume invested in commercial property in Romania reached 530 million Euro, compared to 370 million Euro during H1 2016, a 43 per cent increase, according to a report issue...

REAL ESTATE

Colliers International, assigned Property Manager for The Landmark office project

The real estate consultancy company Colliers International was assigned by Piraeus Bank to offer property management services for the office project The Landmark, in the central area of the Capi...

REAL ESTATE

Renault Romania began works for its future headquarters in Bucharest

The works for the future headquarters building of Groupe Renault Romania in Bucharest - Renault Bucharest Connected (RBC) - have begun today in the presence of Yves Caracatzanis, Managing Direct...

AGRIBUSINESS

Romanian agriculture minister wants sheep used for country branding

Romania’s agriculture minister Petre Daea said that a sheep can be successfully used for Romania’s country branding because ‘sheep are living statues’, according to Romania Insider.

REAL ESTATE

Office vacancy drops below ten per cent in Bucharest for the first time since 2009, says C&W Echinox

Office demand continued to be consistent in the first six months of 2017 and the level of new supply was limited compared with H2 2016. The vacancy rate in Bucharest dropped for the first time s...

REAL ESTATE

Estic Park to invest six million Euro for another 103 apartments in the second district of Bucharest

Estic Park, the residential project from the second district of Bucharest, will build another 103 apartments with six million Euro, after selling 70 per cent of the first phase of the project in...

REAL ESTATE

Israeli developer SBR to start second phase of New Point residential project in Bucharest

Israeli-based real estate developer, Shikun & Binui RED, announces that has sold 50 per cent of the first phase from the residential compound New Point, localized in Pipera, North of Bucharest a...

REAL ESTATE

Ropharma launches HIpark mixed use project in Iasi following an investment of 39 million Euro

Ropharma announces the launch of a new mixed-use project of offices and residential, with a full range of services and retail space, the estimated investment being amount to approximately 39 mil...

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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 ...