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LUDWIK SOBOLEWSKI, CEO OF BVB
We have this paramount objective which we need to tackle: to upgrade Romania to Emerging»
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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 become operational in 2020, when ExxonMobil and OMV Petrom will c...

EU funds worth 90 million Euro to develop Romanian spa sector

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

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

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

PM Grindeanu: Income tax applied in other countries, we are not reinventing the wheel

Prime Minister Sorin Grindeanu stated on Monday evening at a private TV broadcaster that he expects a final draft of the income tax project so that he can decide, but underlined that this type o...

Banca Transilvania posts 246 million RON profit in the first quarter of 2017

Banca Transilvania's net profit is 246 million RON (54.6 million Euro) for the first quarter of 2017, whereas Banca Transilvania Financial Group's net profit amounts to 267 million RON (59.3 mil...

PM Grindeanu: Trips to Israel and Austria - perfect opportunities to improve political, economic relations

Prime Minister Sorin Grindeanu stated that the trips he will take in May to Israel and Austria will be “the perfect opportunities” to improve political and economic relations between Romania...

EU-Canada economic and trade agreement provides worldwide commercial opportunities for Romania, says CCIR

The comprehensive economic and trade agreement between the European Union and Canada (CETA) means actual new opportunities for Romania to exceed the borders of Europe thanks to an almost full re...

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Deloitte: Local M&A market is going through a favourable time

After a record breaking fourth quarter of 2016, the first quarter of 2017 has brought a correction in the value of significant M&A transactions in Romania, with a disclosed amount of 368 million...

Oil prices rise on strong demand and uncertainty over Syria conflict

Oil prices rose on Monday, supported by strong demand and uncertainty over the conflict in Syria, although another run-up in U.S. drilling activity kept a lid on gains, Reuters news reads.

Black Sea Oil & Gas awards drilling rig contract for two offshore wells in the Black Sea

Black Sea Oil & Gas SRL (BSOG) together with its co-venture partners announces the awarding of a contract for the drilling of two offshore exploration wells located in the XV Midia Shallow Block...

ALD Automotive to launch leasing product for electric and hybrid vehicles in Romania

French-based ALD Automotive Romania, one of the largest operational leasing and fleet management companies on the local market, launches first operational leasing product for electric and hybrid...

Mol Group approves dividend and share split

Mol Group held the Annual General Meeting in Budapest, where shareholders approved the report of the Board of Directors regarding finances for the year 2016 and approved consolidated financial s...

Deloitte Romania appoints Alexandru Reff as new country managing partner

Alexandru Reff has been appointed country managing partner Deloitte Romania and Moldova, effective June 1, 2017. He will succeed Ahmed Hassan, who takes on a regional leadership position.

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, representin...

Government-run companies post aggregate 1994-2015 net losses of 66.5 billion RON

Romania's government-run companies have posted an aggregate net loss of 66.5 billion RON (14.7 billion Euro), 1994-2015, with 65.5 billion RON (14.5 billion Euro) in the first ten years of the a...

Romania ranks first in Europe by breach of workers' fundamental rights

Romania ranks first out of 35 surveyed European countries regarding the violation of the workers' fundamental rights, the National Trade Union Bloc (BNS) said in a release, according to Agerpres...

Government to set up digital services agency

The Government will set up a public agency for cloud and digital services under a public-private partnership, Communications Minister Augustin Jianu told a specialist conference, according to Ag...

GE Healthcare to provide 900,000 Euro equipment for Emergency Clinical County Hospital Cluj Napoca

Emergency Clinical County Hospital Cluj Napoca, one of the most important public hospitals in Romania, enhanced its diagnostic imaging capabilities with a Magnetic Resonance Imaging (MRI) system...

PM Grindeanu: Switchover to Euro only after Romanians' salaries are close to other EU states

Prime Minister Sorin Grindeanu said on Monday that the switchover to the Euro will be possible only after the Romanians' incomes get close to earnings in other European Union member states, acco...

Intrarom and Genesys receive Best Use of Technology award

Intrarom, the Romanian subsidiary of Intracom Telecom, announced today that it has received the "Best Use of Technology Award - for Raiffeisen Bank" jointly with Genesys.

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...

Merger between Banca Comerciala Carpatica and Patria Bank approved by Bucharest Court of Appeal

Bucharest Court of Appeal approved on April 21, 2017 the merger file between Banca Comerciala Carpatica and Patria Bank, allowing to the two banks to complete all the procedural and operational ...

Greg Konieczny, FP: We really need a miracle to think about Hidroelectrica's IPO this year

There are some good news and some bad news about Hidroelectrica lately, according to Greg Konieczny, director of Fondul Proprietatea, who said in a press meeting that 'we really need a miracle t...

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...

Bacau to become Romanian Youth Capital

Bacau, one of the biggest cities in Romania's Moldova region, will be the Romanian Youth Capital between May 2, 2017 and May 1, 2018.

Arval Romania registers nine per cent growth in fleet under management

French-based Arval Romania, one of the largest companies specialized in operational leasing and corporate vehicle management, registered nine per cent growth of fleet under management and 23 per...

Caracatzanis, Renault Romania: We uphold measures to support the development of new vehicle market

Director of Renault Romania, Yves Caracatzanis declared that the French group upholds the measures that support the new vehicle market development, Rabla scrappage programme being important beca...

US and Israel show interest in developing Romania's irrigation system

The United States and Israel are interested in investing in the recovery of the irrigation system of Romania, Romania's Ministry of Agriculture and Rural Development reported in a press statemen...

Suciu Popa assisted Enel in the acquisition of 13.6 per cent of E-Distributie Muntenia and Enel Energie Muntenia

Suciu Popa assisted Enel Investment Holding B.V. in finalizing the acquisition of 13.6 per cent of the share capital of E-Distributie Muntenia S.A. and Enel Energie Muntenia S.A., which increase...

Government to approve decentralisation strategy, says PM Grindeanu

Prime Minister Sorin Grindeanu said the Government on Wednesday will approve a decentralisation strategy, adding that all the objectives that can be assigned to the management of the local admin...

PM Grindeanu: Insolvency seems to have become national sport

Prime Minister Sorin Grindeanu has asked the Finance Ministry and the National Tax Administration Agency (ANAF) to come up, by May 15, with a careful analysis of the state of affairs over the pa...

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Iohannis: I explained to EU leaders multi-speed Europe is not a good solution, could end in split-up

President Klaus Iohannis, speaking after the European Council's meeting, said that he explained to EU leaders that a multi-speed Europe is not a good solution and that in extremis it might end i...

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 become operational in 2020, when ExxonMobil and OMV Petrom will c...

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

As much as 97 per cent 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 per ...

Net investment in national economy, down 3.3 per cent in 2016

Net investment carried out last year in Romania's national economy stood at 70.281 billion RON (15.6 billion Euro, declining 3.3 per cent from 2015, according to data released by the National In...

Romania has significant potential in agriculture, but low productivity, says PwC Romania

Romania is one of the European countries with the highest potential in agriculture with the sixth biggest agricultural use area in the EU, but it has a low productivity due to several factors, a...

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 ...

PM Grindeanu: We must back European project strengthening, not multi-speed Europe

Romania's consistent stance - whether expressed by the country's Presidency, government or Parliament - on the future of the EU in the Brexit context is to support the strengthening of the Europ...

PM Grindeanu in Brussels: Policies on cohesion funds, common agricultural policies important to Romania

The policies regarding the cohesion funds and the common agricultural policies are important to Romania, Prime Minister Sorin Grindeanu said in Brussels, in talks with several European leaders, ...

EU funds worth 90 million Euro to develop Romanian spa sector

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

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

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

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 it functions transpare...

Mol Group reached almost one billion USD profit in 2016

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

Alesonor to invest 12 million Euro in expansion of Amber Gardens and two new projects in Bucharest

Alesonor, the developer of the green residential project Amber Gardens, will invest 12 million Euro this year to add 21 houses in the complex and to develop two new energy efficient residential ...

Sonaca to make Airbus parts in Romania following 11.5 million Euro investment

Belgian aerospace company Sonaca has opened in western Romania county Cluj a new plant that will manufacture parts for Airbus A320 aircraft, following a 52 million RON (11.5 million Euro) inves...

Ministry of Environment: We want to double, to 10,000 Euro, state bonus for electric car acquisition

Environment Minister Daniel Constantin declared in central Sibiu, that this year the bonus for the 'Scrappage Plus' programme will be doubled compared to the 2016, so whoever wants to buy an ele...

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...

PM Grindeanu: We believe European funds to be engine for economic growth

Prime Minister Sorin Grindeanu said that European funds are seen as an engine for economic growth, pointing out that he wants things to get unblocked in this area, according to Agerpres.

European Commissioner Cretu: EU funds absorption rate in Romania will exceed 90 percent on 2007-2013 period

European Commissioner for Regional Policy Corina Cretu said that in Romania the absorption rate for the funds allotted for the 2007-2013 period will exceed 90 per cent and that invoices correspo...

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.

Romania Green Building Council launches recommendations for the National Renovation Strategy

The Romania Green Building Council launched a set of recommendations for Romania's new National Renovation Strategy, which the Romanian Government should present to the European Commission by en...

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

Business centre "The Bridge", 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 ...

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

American company Harman, designers and engineers of connected products and solutions for automakers, consumers and enterprises worldwide, signed a lease agreement for 7,700 sqm in Metroffice, th...

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

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

Iohannis: We are and will be next to our NATO allies

The collective allied defence means today more than ever the awareness of the fact that each and every country's security could be more efficiently secured together instead of separately, says p...

PM Grindeanu: Income tax applied in other countries, we are not reinventing the wheel

Prime Minister Sorin Grindeanu stated on Monday evening at a private TV broadcaster that he expects a final draft of the income tax project so that he can decide, but underlined that this type o...

Greg Konieczny, FP: We really need a miracle to think about Hidroelectrica's IPO this year

There are some good news and some bad news about Hidroelectrica lately, according to Greg Konieczny, director of Fondul Proprietatea, who said in a press meeting that 'we really need a miracle t...

Romania ranks first in Europe by breach of workers' fundamental rights

Romania ranks first out of 35 surveyed European countries regarding the violation of the workers' fundamental rights, the National Trade Union Bloc (BNS) said in a release, according to Agerpres...

Government to set up digital services agency

The Government will set up a public agency for cloud and digital services under a public-private partnership, Communications Minister Augustin Jianu told a specialist conference, according to Ag...

Government-run companies post aggregate 1994-2015 net losses of 66.5 billion RON

Romania's government-run companies have posted an aggregate net loss of 66.5 billion RON (14.7 billion Euro), 1994-2015, with 65.5 billion RON (14.5 billion Euro) in the first ten years of the a...

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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 public pension ...

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 year-on-year i...

Deloitte Romania appoints Alexandru Reff as new country managing partner
Alexandru Reff has been appointed country managing partner Deloitte Romania and Moldova, effective June 1, 2017. He will succeed Ahmed Hassan, who takes on a regional leadership position.

Cushman & Wakefield Echinox expands its retail department with new appointment
Cushman & Wakefield Echinox consolidates its retail team by recruiting Dana Radoveneanu, a specialist with six years of experience of the local retail market, a press release shows.