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POLITICS

Justice minister: GEO drafts on criminal legislation will be in accordance with observations and consultation

The draft emergency ordinances regarding pardon and the amendments of the Criminal Code and the Criminal Procedure Code will be in accordance with the observations and the public consultations, ...

POLITICS

Minister of Justice: Bill amending Criminal codes put up for public debate

Minister of Justice Florin Iordache announced that the bill amending the Criminal codes will be put up for debate on Monday for a 30-day period, and that it will also include the articles that h...

POLITICS

Iohannis at Government meeting: I discussed with the PM; I am pleased with how you do your job

President Klaus Iohannis said on Wednesday he had, before the Government meeting, a "very applied" discussion with Prime Minister Sorin Grindeanu, and the head of state told the Government membe...

POLITICS

Iohannis: Budget approach lacks needed responsibility in security context

President Klaus Iohannis sent a letter to Prime Minister Sorin Grindeanu drawing the attention that the approach on the budget construction doesn't prove the responsibility that the political an...

POLITICS

President Iohannis wants to address Parliament on 7 February

President Klaus Iohannis sent a letter to the Heads of the two Chambers of the Legislature, in which he reveals that he wants to address Parliament on 7 February, in respect to the amendments ma...

POLITICS

SRI and DNA have no protocol, says SRI Spokesman

Spokesman of the Romanian Intelligence Service (SRI) Ovidiu Marincea stated that the SRI does not have any protocol with the National Anticorruption Directorate (DNA), but he added that there ar...

POLITICS

Dragnea: There is no risk of PSD getting destabilized

Leader of the Social Democratic Party (PSD) Liviu Dragnea told a private broadcaster on Sunday that there is no risk of his party getting destabilised as he and the incumbent party leadership ha...

POLITICS

Iohannis: Enough arguments for Government to withdraw pardon and criminal codes amendment drafts

President Klaus Iohannis maintains that there are enough arguments to determine the Government to withdraw the drafts referring to pardon and the amendment of the criminal codes, mentioning that...

POLITICS

Iohannis: PSD's first concern to deal with criminals' files

President Klaus Iohannis told the Parliament plenary session on Tuesday that the ruling party, PSD (Social Democratic Party), after winning general election, has had a "suicidal strategy", its f...

POLITICS

EU seals trade deal with Canada

The European Parliament voted in favour of the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada, concluding the ratification process of this deal at the EU level, a pr...

POLITICS

EU disaster response mechanism found effective and well-coordinated

The European Court of Auditors released a report on the EU Civil protection mechanism - managed by the European Commission - pointing to its successful deployment in response to recent natural d...

POLITICS

Justice Ministry gives up draft law sent to CSM

The Justice Ministry (MJ) gives up the draft law on modifying and adding the normative acts concerning the Criminal Codes, already forwarded to the Superior Council of Magistrates (CSM), as it w...

POLITICS

President Iohannis: Romania's foreign and security policy will remain on same essential coordinates

Romania's foreign and security policy will remain on the same essential coordinates as until now, in the context in which our country must keep its regional position of stability and predictabil...

POLITICS

Ciolos: Progress in anti-corruption fight can no longer be wiped off through ordinances dedicated to politicians

The progress made in the fight against corruption can no longer be wiped out surreptitiously through emergency ordinances "dedicated to a handful of politicians," former Prime Minister Dacian Ci...

POLITICS

Dragnea (PSD): Pressure for myself to be framed up

"Various guys" are pressured to write denunciations with no real foundation against me, Social Democratic Party (PSD) leader Liviu Dragnea said on Tuesday night, adding that next week he will ma...

POLITICS

PM Grindeanu wishes for 2019 with no CVM for Romania

Premier Sorin Grindeanu stated, on Thursday, at the headquarters of the European Commission, that he wishes in 2019 the Cooperation and Verification Mechanism (CVM) for Romania to be lifted, acc...

POLITICS

European Commission: The fight against corruption in Romania needs to be advanced, not undone

A joint statement of president Juncker and first vice-president Timmermans from the European Commission, on the fight against corruption in Romania, shows that "the fight against corruption need...

POLITICS

Iohannis: I request Government to abandon demarches on pardon and amendment of Criminal Codes

President Klaus Iohannis requests the Government to "abandon" the demarches regarding pardon and the amendment of the Criminal Code, Criminal Procedure Code, underlining that "the people's voice...

POLITICS

Basescu: Iohannis plays faultlessly to put PSD against the wall

The head of the state, Klaus Iohannis "played faultlessly" politically to bring the Social Democratic Party (PSD, at rule) in a difficult situation, said the former president, Traian Basescu on ...

POLITICS

PM Grindeanu says he does not share President's concern regarding 2017 budget

Prime Minister Sorin Grindeanu stated on Tuesday that he doesn't share the concern that President Klaus Iohannis expressed regarding the budget for 2017, according to Agerpres.

POLITICS

OUG draft: Full pardon for sentences up to five years of prison

The emergency ordinance (OUG) draft on pardoning some sentences, which the Ministry of Justice released for public debate on Wednesday, stipulates that the sentences up to five years of prison i...

POLITICS

PM Grindeanu: We support our views on 2017 budget

The Government will support its views in respect to the 2017 budget draft in the Supreme Council for National Defence (CSAT) meeting on Tuesday, Prime Minister Sorin Grindeanu said, according to...

POLITICS

Dragnea: Nobody in Romania stands to gain from protest escalation

Calm and stability are what is most important to Romania, leader of the Social Democratic Party Liviu Dragnea said on Sunday night, adding that nobody in the country stands to gain from the esca...

POLITICS

Iohannis: 2017 budget is a problematic and risky one

President Klaus Iohannis said that the budget draft for 2017 is a problematic and risky one, pointing that there is the real risk for the deficit of three percent to be exceeded, according to Ag...

POLITICS

Antonio Tajani elected new president of the European Parliament

Antonio Tajani (Italy) won Parliament's presidential election with 351 votes in a final face-off with Gianni Pittella (Italy), who secured 282 votes.

POLITICS

MEP Negrescu to Farage: Romania does not take lessons in fairness from man investigated for corruption

Member of the European Parliament Victor Negrescu conveyed in an open letter addressed to Nigel Farage, that the former leader of the UK Independence Party (UKIP) should not talk about corruptio...

POLITICS

Kovesi on draft amendment of Criminal Code: Guised decriminalization of abuse of office

Chief Prosecutor of the National Anti-Corruption Directorate (DNA) Laura Codruta Kovesi said on Wednesday that the draft emergency ordinance amending the Criminal Code and the Criminal Procedure...

POLITICS

Iohannis: Justice independence seriously breached; we must take attitude; first step - CCR notification

Justice independence has been seriously breached by the Government by adopting the Government Emergency Ordinance (GEO) for the modification of the criminal codes, President Klaus Iohannis said,...

ECONOMICS

Fiat Chrysler says diesel vehicles fully compliant

Fiat Chrysler reiterated its diesel vehicles were fully compliant with applicable emissions requirements, a spokesman said on Tuesday after the French authorities referred the carmaker's case fo...

ECONOMICS

Government willingness to move Hidroelectrica IPO forward as quickly as possible, says Greg Konieczny (FP)

Romanian Government is willing to move the Hidroelectrica IPO process forward as quickly as possible, according to Greg Konieczny, portfolio manager of Fondul Proprietatea and executive vice pre...

ECONOMICS

Banca Transilvania's net profit reached 1.2 billion RON last year

Banca Transilvania's net profit amounts to 1.2 billion RON (274 million Euro) at the end of 2016, from 2.4 billion RON (537 million Euro) in 2015, one year after the merger with Volksbank Romani...

ECONOMICS

ECB never tries to manipulate euro rate, says French finance minister

The European Central Bank never tries to manipulate the euro exchange rate for trade or competitive policy reasons, French Finance Minister Michel Sapin said in an interview published on Monday,...

ECONOMICS

ALD Automotive to launch fleet management app in Romania

French-based ALD Automotive Romania, one of the largest operational leasing and fleet management companies on the local market, launches new mobile and web solution for fleet managers, a press r...

ECONOMICS

BMW Group explores Romanian IT industry opportunities

BMW Group officials have come to Romania to start discussions about collaboration with IT&C companies to provide software solutions for BMW.

ECONOMICS

Central bank revises downwards 2017 year-end inflation forecast

The National Bank of Romania (BNR) has revised downwards by 0.4 percentage points its inflation forecast for end-2017, which is now projected at 1.7 percent, BNR governor Mugur Isarescu told a p...

ECONOMICS

Alison Hayes concentrates in-house production in Buzau, services in Urziceni

Alison Hayes is reorganizing its business processes in Romania, to improve the production and logistics functions in an operationally more efficient way to better meet demand from its customers....

ECONOMICS

Telekom Romania posted adjusted EBITDA of 175 million Euro for entire 2016

Telekom Romania Communications and Telekom Romania Mobile Communications announced key performance indicators in fourth quarter 2016, ended December 31, 2016, as reported today by OTE Group. Tel...

ECONOMICS

BNR: 6,400 debt discharge notifications at 2016 end

The number of debt discharge notifications reached 6,400 at the end of 2016 and the volume of notified loans stands at 1.8 - 1.9 billion RON (400 million Euro), deputy director of the Financial ...

ECONOMICS

EU funds worth 90 million Euro to develop Romanian spa sector

The spas of Romania must be promoted as major interest destinations for the citizens of all European countries, and the 90 million Euro allocation from the European Union for 2014 - 2020 could d...

ECONOMICS

VIG profit doubled to around 407 million Euro last year

Vienna Insurance Group (VIG) profit before taxes more than doubled to around 407 million Euro last year, according to preliminary figures for 2016.

ECONOMICS

Innovation and digitisation are key to Europe's future competitiveness, industrialists say

Industry remains the backbone of the European economy, contributing more than 30 per cent of GDP growth and more than 80 per cent of private R&D spending, a report published by the European Roun...

ECONOMICS

Alevia to reach an estimated turnover of 5.8 million Euro in 2017

Alevia, a Romanian company specialized in production of food supplements and teas, wants to achieve a turnover of 5.8 million Euro this year, a press release shows.

ECONOMICS

Uber to launch carpool service in Romania by 2020

Uber Romania said that the app reached 250,000 users in 2016, three times higher than the launch in February 2015, with Romania ranking second in Central and Eastern Europe after Poland in terms...

ECONOMICS

Minimum wage in Romania doubles compared to 2008, says Eurostat

Bulgaria and Romania had on 1 January 2017 the lowest minimum wages in the European Union (EU), namely 235 Euro and 275 Euro per month respectively, the data published by the European Statistics...

ECONOMICS

PSA pays GM 2.2 billion Euro for Opel

PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion Euro, creating a new regional car giant to challenge market leader Volkswagen, Reuters news rea...

ECONOMICS

AmCham: Increased budget revenues collection and high investments are essential for generating growth

In the context of the public debates around the State Budget project for 2017, AmCham Romania reiterates the importance of a balanced budgetary projection, focused on economic growth and investm...

ECONOMICS

Romania Green Building Council launches recommendations for the National Renovation Strategy

Romania Green Building Council launches a set of recommendations for Romania's new National Renovation Strategy, that the Romanian Government should present to the European Commission by end of ...

ECONOMICS

Demand for sustainable development increased significantly throughout 2016, says BuildGreen

BuildGreen, Romania's development, design and green building certification company, ended the year 2017 with a portfolio increase of over 100 per cent, surpassing the level of 2,7 million sqm of...

ECONOMICS

Romanian transporters criticize taxi dispatch project to be implemented by Bucharest Municipality

Romanian Confederation of Authorized Transporters and Operators (COTAR), an important organization in the road transport sector, announced today that totally disagrees the establishment of a cen...

ECONOMICS

Eurostat: Romania registers lowest pay gap between men and women in management positions

In each European Union member state, male managers won in 2014 more than women in management positions, but the lowest pay gap was registered in Romania, show the data of the European Statistics...

ECONOMICS

Commissioner Cretu underscores need for monitoring implementation of major projects in Romania

European Commissioner for Regional Policy Corina Cretu welcomed Romania's Minister of Research and Innovation Serban-Constantin Valeca in Brussels to discuss the latest developments in the imple...

ECONOMICS

Romanian companies invited to attend privatization programme of Republic of Moldova

Romanian companies are invited to attend the privatization programme prepared by the Economy Ministry of the Republic of Moldova for the second half of the current year, Moldovan Economy Ministe...

ECONOMICS

Illegal logging in Romania reduces in 2016

Preliminary data in a 2016 report on Romania's forestry indicate that illegal logging was down in 2016, said the Romanian Ministry of Water and Forestry (MAP), according to Agerpres.

ECONOMICS

BRUA pipeline to operate in 2020 when Exxon, Petrom will extract Black Sea gas

The works at the BRUA (Bulgaria - Romania - Hungary - Austria) pipeline will start at the end of 2017, and the gas pipeline will turn operational in 2020, when ExxonMobil and OMV Petrom will com...

ECONOMICS

2017 budget draft based on 5.2 per cent economic growth

The 2017 budget draft is based on a 5.2 per cent economic growth estimated for this year and above 5 percent over the entire 2018-2020-time frame, the (cash) budget deficit being forecast at 2.9...

ECONOMICS

Parliament adopts 2017 budget draft

Parliament on Tuesday adopted the draft laws on the state budget and the social insurance budget for 2017.

ENERGY

Energy Performance Contracting for public buildings

The Romanian Association for Promoting Energy Efficiency (ARPEE), established in 2012, has as overall scope the mobilization of its members’ resources and competences to actively participate i...

ENERGY

Net profit of Nuclearelectrica decreased by 27 per cent last year, to 108 million RON

The net profit registered in 2016 by Societatea Nationala Nuclearelectrica (SNN) is of 108 million RON (24 million Euro) decreasing with 27 per cent compared to 2015, mainly due to the impact of...

ENERGY

Enel to invest 329 million Euro in Romania in 2017-2018

Enel has planned investments for a total of 329 million Euro for the current regulatory cycle ending in 2018, of which of over 151 million Euro are due for 2017 and 178 million Euro for 2018.

ENERGY

Mol Group expands its exploration portfolio with new licenses in Hungary and Norway

Mol Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway, the company announced on the Budapest Stock Exchange.

ENERGY

ACUE pleads for gradual deregulation of natural gas purchase prices for population and CETs

The Federation of Associations of Energy Utility Companies (ACUE) fully supports the liberalization of the gas market in Romania only with the necessary elements to ensure its functioning transp...

ENERGY

Mol Romania opens a new gas station in Craiova

Mol Romania inaugurated the seventh gas station in Dolj County, following a one million Euro investment, a press release shows. The new station is located in Carcea commune, on the road that con...

ENERGY

Mol Group reached almost one billion dollars profit in 2016

Mol Group announced its financial results for 2016 and the company delivered a clean CCS EBITDA of 2.15 billion dollars, which is only moderately down compared with the previous year, a press re...

ENERGY

Romania cannot ensure energy consumption from internal production on Monday morning

National production of energy cannot cover anymore the country's consumption on Monday morning, so that Romania must import more energy, according to the data posted in real time on the website ...

ENERGY

Ninety-seven percent of household waste ends up in landfills, says ARBIO

As many as 97 percentage of Romania's household waste ends up in landfills, and Romania could be fined starting in 2020 about 500,000 Euro per day if it fails to bring the numbers to below 50 pe...

ENERGY

Energy regulator: Gas prices might grow up by ten per cent on 1 April

Natural gas prices might increase by up to 10 per cent starting with 1 April, after liberalising the domestic market's gas prices, Chairman of the National Energy Regulation Authority (ANRE) Nic...

ENERGY

Repeated increases of the electricity prices affect distribution operators and last resort suppliers, says ACUE

The Federation of Associations of Energy Utility Companies (ACUE) appreciates and supports the initiative of the competent authorities to analyse the current situation of the centralized energy ...

INVESTMENTS

SAP to invest two billion Euro for companies and public institutions to adopt IoT technologies

SAP, business software solutions provider, recently announced total investments of two billion Euro, in the next five years, to provide support for companies and public institutions who want to ...

INVESTMENTS

New Kopel Group to invest 20 million Euro this year in all divisions

Operational leasing company New Kopel Group plans to make 20 million Euro investments this year in all divisions and to buy 1,500 new cars in 2017, the company announced.

INVESTMENTS

Profi opens seven new stores

Profi opens seven more stores in Romania, reaching a total of 511 units at the end of January, a press release shows.

INVESTMENTS

Alpin 57 Lux owners receive over 200 million Euro from Asian investors

Food Union Group, an international group of dairy and ice cream producing companies, and the owner of Romania's ice cream manufacturer Alpin 57 Lux, has received a combined 214 million Euro inve...

INVESTMENTS

Profi opens its first stores this year

Profi opens its first three stores in 2017, reaching a total of 504 units in Romania, a press release shows.

APPOINTMENTS

Action Global Communications appoints Chris Christodoulou as new CEO

Action Global Communications has announced the launch of the agency's new corporate identity, now being led by its new CEO, Chris Christodoulou, who has taken over from the group's founder Tony ...

APPOINTMENTS

Immofinanz appoints Gerard Gruell to lead the retail portfolio in Europe

Gerald Gruell has been appointed head of asset management retail Europe at Immofinanz, a press release shows. In this position, he will be responsible for Immofinanz's retail portfolio in Europe...

APPOINTMENTS

Praktiker Romania appoints new general manager

Miroslaw Huczek has been appointed new general manager of Praktiker Romania, starting March 2017, a press release shows.

APPOINTMENTS

ALD Automotive Romania appoints Daniela Davidescu as operations director

Daniela Davidescu, former director of the Contact Center within BRD, the Romanian subsidiary of Societe Generale group, was appointed Operations director at ALD Automotive Romania, starting Janu...

AGRIBUSINESS

Agricover Credit IFN reached 22 million RON net profit last year, 28 per cent up compared to 2015

Agricover Credit IFN, the non-banking financial institution specializing in financial services in agriculture, announced the net profit registered last year is worth 22 million RON (4.8 million ...

REAL ESTATE

Commercial property investments in Romania exceeded 850 million Euro last year, says DTZ

In 2016, the total volume invested in commercial property in Romania exceeded 850 million Euro, a DTZ Echinox report shows. Bucharest attracted 660 million Euro, which represents 77 per cent of ...

REAL ESTATE

Dentons advises CPI Property Group on CEE retail portfolio acquisition

Dentons advised CPI Property Group on the acquisition of a portfolio of 11 retail properties from CBRE Global Investors, including six major regional shopping centres, in Romania, the Czech Repu...

REAL ESTATE

JLL appoints Silviana Petre Badea to lead Romania business

JLL has appointed Silviana Petre Badea as managing director of its Romanian business, based in Bucharest, with effect from 1 March 2017.

REAL ESTATE

Number of employees in Bucharest office market to reach 260,000 this year, says DTZ

The number of employees working in A and B office buildings in Bucharest reached 233,000 at the end of 2016, 30,000 more than in 2015, recording the highest level in past three years, according ...

REAL ESTATE

Immofinanz launches its myhive office concept in Romania

Immofinanz, one of the most important real estate investors in Romania, introduces its office brand myhive to the local market, to be implemented in five of its class A office buildings in Bucha...

REAL ESTATE

Palace Estate brokered deals valued at 10 million Euro last year

Real estate brokerage and consultancy company Palace Estate brokered real estate deals valued at 10 million Euro in 2016, a press release shows.

REAL ESTATE

Office transactions outside Bucharest increased by 53 per cent last year, says ESOP

Office space transactions outside Bucharest have increased by 53 per cent last year, reaching a total volume of 71,560 sqm, according to a report released by ESOP Consulting.

REAL ESTATE

JLL appoints Alina Cojocaru as head of valuation department

Alina Cojocaru was appointed head of valuation department at JLL Romania, starting February 15, a press release shows. She will be responsible for the extension of JLL valuation portfolio by pro...

REAL ESTATE

AFI Europe Romania reached 46 million Euro net operating income in 2016, 15.5 per cent up compared to 2015

The Romanian subsidiary of real estate company AFI Europe announced a 46 million Euro net operating income in 2016, up 15.5 per cent against the previous year, according to company data.

REAL ESTATE

The Bridge to host the biggest restaurant within an office building in Bucharest, says DTZ

The Bridge business centre, developed by Forte Partners, will host Boutique Food Hall, the biggest restaurant within an office building in Bucharest, with an area of over 1,000 sqm, following a ...

REAL ESTATE

Modern retail stock in Bucharest reached 1.2 million sqm, says DTZ

The modern retail stock in Bucharest reached 1.2 million sqm at the end of 2016 and consists especially in shopping centres (56 per cent) and retail parks (33 per cent), while commercial galleri...

REAL ESTATE

S IMMO AG completes the first phase of Sun Plaza remodelling

S IMMO AG completes the first part of the remodelling process for Sun Plaza shopping centre in Bucharest. On March 23rd, the newly reconfigured area within Sun Plaza will open to the public, hos...

REAL ESTATE

Forte Partners to start second phase of The Bridge office project

Local real estate developer Forte Partners will start building the second phase of The Bridge office project this year, according to Geo Margescu, managing partner of the company.

REAL ESTATE

Investors pour more money into the booming CEE hotel industry, says Cushman & Wakefield

The investment volume achieved in 2016 totalled almost 1.2 billion Euro with 46 transactions recorded in core CEE hotel investment markets, while in 2015 reached just over 700 million Euro with ...

REAL ESTATE

Industrial spaces demand has reached historic high in 2016, says JLL

Demand of industrial and logistics spaces grew last year by 50 per cent to over 460,000 square meters, recording the highest level in the history of the Romanian market, according to JLL Romania...

REAL ESTATE

Sonae Sierra reached over 180 million Euro net profit in 2016

Sonae Sierra, the international property company dedicated to dedicated to retail real estate development, recorded a net profit of 181 million Euro in 2016, compared to 142 millione Euro in 201...

REAL ESTATE

Immofinanz leased over 80,000 sqm of its Bucharest office portfolio last year

Immofinanz, one of the leading real estate investors in Romania, has leased over 80,000 sqm of its Bucharest office portfolio in the abbreviated financial year 2016, the equivalent of 10,000 sqm...

REAL ESTATE

Office stock to increase by 350,000 sqm this year, says Colliers

Romanian office market registered last year the highest rate of deliveries in the last seven years, and the upward trend will continue in 2017. This year, the stock of office spaces will increas...

REAL ESTATE

Modern retail stock outside Bucharest reached 2.3 million sqm, says DTZ

At the end of 2016, the modern retail stock outside Bucharest reached 2.3 million sqm. Shopping centres account for about 60 per cent, while retail parks and commercial galleries represent 34 pe...

REAL ESTATE

Colliers: Industrial and logistic stock to increase by 500,000 sqm this year

Industrial and logistic stock will increase by about 500,000 sqm this year, continuing the upward trend of 2016, according to Colliers International. About 80 per cent of new deliveries are expe...

REAL ESTATE

JLL appoints new head of Industrial for Romania

JLL has announced that Costin Banica, business developer Industrial Agency, has been appointed to the role of Head of Industrial for Romania, effective 17 February 2017.

REAL ESTATE

Three office buildings to be developed by Iulius in Timisoara

This spring, the Iulius company will start the construction works for three new class A office buildings within the Openville Timisoara mixed-use project, located near Iulius Mall, a press relea...

REAL ESTATE

DTZ Echinox rebrands as Cushman & Wakefield Echinox

Cushman & Wakefield, a leading global real estate services firm, has signed an exclusive arrangement with DTZ Echinox as its affiliate in Romania. The formal affiliate appointment follows the 20...

REAL ESTATE

Colliers: Land market dominated by demand for residential and mixed projects

Romanian land market in 2016 was characterized by an increased demand from the residential and retail projects, according to a report by Colliers International. Interest in these sectors will be...

REAL ESTATE

ESOP Consulting assisted Harman International on a lease agreement for 7,700 sqm in Metroffice

American company Harman, designing and engineering connected products and solutions for automakers, consumers and enterprises worldwide, signed a lease agreement for 7,700 sqm in Metroffice, the...

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Read in the Print Edition
Sneak peek into energy's future

In the light of the new National Strategy currently being debated, where Romania faces new challenges regarding the energy market, The Diplomat - Bucharest organized in late November the "Investments for ensuri...

Romania, Czech investors' reliable partner

Romania is not inch-perfect, but it still counts as a good destination on the foreign investor's map, as confirmed by the Czech community present at the second edition of the roundtable "Czech Investments in Ro...