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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.

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 ...

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...

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....

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...

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...

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...

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...

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.

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...

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 ...

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.

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...

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....

More on News
MAE requests Ukraine to adopt necessary measures so that Romanians learn in their mother tongue

The Foreign Affairs Ministry (MAE) announced that it will continue to take steps with the international authorities to signal the negative impact of the legislative amendments in Ukraine's Educa...

Romania initiates first meeting of EU Council Presidencies' Trio with Finland and Croatia

Minister-Delegate for European Affairs Victor Negrescu has initiated on Monday in Brussels, the first, minister-level meeting of the Trio of Presidencies that Romania is due to commence on Janua...

PM Tudose: We will shortly come up with new form of split VAT collection

A new form of split VAT collection, which will respond to the requests made in this period by business representatives, will be presented shortly, Prime Minister Mihai Tudose announced on Monday...

Iohannis: Advanced presence on Eastern Flank must be reinforced, especially in Black Sea

President Klaus Iohannis stated on Monday that the advanced presence on NATO's Eastern Flank must be reinforced.

Romania's inflation rate up to 1.8 percent in September, says INS

The annual inflation went up in September to 1.8 percent from 1.2 percent in August, according to data of the National Institute of Statistics (INS), as reported by Agerpres.

Mol announces plans to build new headquarters in Budapest

Mol Group announced its plans to relocate its corporate headquarters by 2021 to Mol Campus, the company's new 83,000 sqm office.

ADM Capital sells Brikston Construction Solutions to Wienerberger AG

ADM Capital, an international private equity fund, acquired a 98 per cent stake in Brikston Construction Solutions (Brikston) in July 2014 and has agreed to sell its full shareholding to Wienerb...

TotalSoft appoints Tom Stankiewicz as Financial Services Executive Director

TotalSoft, one of the leading ERP and financial solutions providers, part of software company Logo Software (Logo), takes new strategic steps in further penetrating international financial marke...

Werk invests 2.5 million Euro in 400 parking spots near Vox Technology Park

Werk Property Group will start in November the construction of a new parking with a capacity of 400 parking spots in the immediate vicinity of office project Vox Technology Park from Timisoara. ...

Colin Lovering joins Avison Young in Romania

Avison Young announced the strategic hiring of business development specialist Colin Lovering, a press release shows.

EBRD to become a shareholder in Agricover Holding

The EBRD and Agricover Holding have signed legal agreements today confirming the Bank's intention to become a shareholder in the Romanian agribusiness company.

CTP to invest over 150 million Euro for CTPark Bucharest West by the first quarter of 2018

CTP continues to strengthen its status on the domestic market through a series of important investments in the development of CTPark Bucharest West. The total investment in the CTPark Bucharest ...

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ADM Capital sells Brikston Construction Solutions to Wienerberger AG
ADM Capital, an international private equity fund, acquired a 98 per cent stake in Brikston Construction Solutions (Brikston) in July 2014 and has agreed to sell its full shareholding to Wienerberger AG of Aust...

PM Tudose: We will shortly come up with new form of split VAT collection
A new form of split VAT collection, which will respond to the requests made in this period by business representatives, will be presented shortly, Prime Minister Mihai Tudose announced on Monday in a meeting wi...

Three Romanian companies among the fastest-growing technology companies in CE
Three Romanian companies made it to the Central European Deloitte Technology Fast 50 ranking and one received a special award for the Most Disruptive Innovation.

EBRD to become a shareholder in Agricover Holding
The EBRD and Agricover Holding have signed legal agreements today confirming the Bank's intention to become a shareholder in the Romanian agribusiness company.

Colin Lovering joins Avison Young in Romania
Avison Young announced the strategic hiring of business development specialist Colin Lovering, a press release shows.