General
October 29, 2014 15:07
Romania jumps 25 places in Doing Business 2015, the annual report issued by the World Bank Group which ranks the global economies based on the overall ease of doing business. The recently released edition ranks our country the 48th amongst 189 countries, a major advance compared to the previous edition in which Romania was placed in the 73rd position. ...more »
October 24, 2014 15:39
Bucharest Airports National Company (BANC), saw increasing air traffic on the two airports it operates, in September 2014, as the number of passengers (approximately 829,000) increased by 9 percent over the same month of the previous year....more »
October 21, 2014 15:31
Romania holds the third place in Deloitte’s CE Technology Fast 50 2014, the competition that ranks the fastest growing technology companies based on their revenue growth over a five-year period. Six domestic companies – ITNT,  Teamnet International, Softelligence, Life is Hard, Fortech and Trencadis are listed in the 2014 ranking, for which were took into consideration the revenues from 2009 to 2013....more »
October 17, 2014 15:45
The first three quarters of the year have brought increasing revenues to the courier companies, FAN Courier, the leading player in the domestic market, reporting a turnover of 53.3 million euro at nine months. The figures are above expectations, say the company’s leaders, advancing by nearly 19 percent year-on-year on increased consumption, whereas they had foreseen a growth rate raging from 12 to 15 percent....more »
October 15, 2014 13:27
The General Council of Bucharest approved the merger of RADET with ELCEN during yesterday’s meeting after two failed attempts due to not raising the necessary votes. According to the mayor, Sorin Oprescu, the merger should be carried out in March 2015, reads Mediafax. Thus, the Government’s request for issuing an act to enforce the transfer of ELCEN’s assets from the State’s ownership under the local authorities' control as provided by the Memorandum enacted by the Romanian Government in March 2013 was validated....more »
October 14, 2014 14:32
The home improvement retailer Kingfisher has completed the redecoration of six more former Bricostore units, their inauguration under the Brico Depot brand being scheduled this week, on October 17. The transformation of the six ‘deposits’ located in Arad, Brasov, Chiajna (Militari District), Oradea Ploiesti and Pitesti began in August and has been carried out in record time, hence bringing the retail network on the local market to eight units....more »
October 13, 2014 16:26
The new board of Romania’s National Bank has been officially appointed, as the former members ended their mandates on October 10, 2014. Mugur Isarescu will lead the board whose major goals are to join the euro-area and to adhere to the European Banking Union. Isarescu, who has been the BNR’s governor for the past 24 years maintains his position for another five years. As are Florin Georgescu who was re-confirmed as first deputy governor and Bogdan Olteanu, deputy governor, following the Parliament vote this June....more »
October 08, 2014 11:12
The much-expected ‘re-writing’ of the Fiscal Code is little likely be approved by the Parliament by the end of this year, hence, any amendments to the existing one will be eventually made through an emergency ordinance in 2015, explained Dan Badin, Tax&Legal Partner-in-Charge with Deloitte Romania, during the company’s annual Legal & Tax conference. A new deferral in updating the Fiscal Code is a result of the slow decision-making process within the Parliament, as most of the related tax issues have been discussed during the consultations held with the business environment, stated Badin. He further emphasized the necessity for Romania to have the old Fiscal Code rewritten, as an emergency ordinance issued by the Government can only partially fix the current shortcomings indicated frequently by the business environment....more »
October 06, 2014 16:51
The Competition Council has imposed financial sanctions on 11 media companies, the fines amounting to about 3.2 million euro (14.5 million lei). Brand Programming Network, B.V. McCann-Erickson, Groupm Media Operations, Initiative Media, Mediaedgecia Romania, Mindshare Media, Opti Media, Starcom Mediavest Group, United Media Services, Zenith Media Communications are the companies affected, according to a press release of the competition authority....more »
October 02, 2014 14:52
The division process of Electrocentrale Bucharest S.A. (ELCEN), the largest domestic thermal energy producer, has been concluded and two new companies have been created - ”Societatea Electrocentrale Constanta S.A.” and ”Societatea Electro...more »
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