Economics
July 14, 2016 16:59
President Iohannis promulgated on 11th of July the law that binds hypermarkets to market 51% Romanian products. The normative act was adopted unanimously with 293 votes by the Chamber of Deputies in June. Before being subject to final vote, the draft law was contested and postponed by the associations that claimed the provisions breach the Romanian and European regulations and the principles of single market. Moreover, that it has the potential to affect massively the normal functioning of grocery retail....more »
July 14, 2016 16:55
Telecom operator RCS&RDS is the new energy supplier of the Romanian Television (SRTv), whereas CEZ is going to supply for Dacia Renault plant, the biggest company in Romania. RCS&RDS has won the bidding against Electrica, Industrial Energy, Elsaco and Enel Energie Muntenia. The contract period is one year, until July 2017, and RCS&RDS is going to charge 2.2 million RON (approx 490 000 EURO) without VAT, for delivering 6.842 MW (medium tension) to the headquarter in Bucharest, and 52.5 MW (low and medium tension) to the studios in Targu Mures, Cluj, Iasi, Craiova, and three more....more »
July 04, 2016 10:41
According to an emergency ordinance promoted by the Government, the operators are accountable for the waste generated by their primary, secondary and tertiary packaging, excepting the waste generated by packaging at the sales point of their products. For these, the operators that overpack individually packed products in order to sell or redistribute it, are responsible.  Also, the operators that lease under any form, with professional title, the packaging, are responsible for the waste....more »
July 01, 2016 15:23
After a year where the company's profit dropped to 320 000 euro comparing to 9.4 million euro the previous year, and 21.3 million euro revenue from 64.4 million euro, businessman Valer Blidar, manager of Astra Vagoane Calatori in Arad, decided to start production for electric buses and trolleybuses and hopes to double the revenue by the end of the year.  “We launched two production lines, one for electric buses, and one for electric trolleybuses. I recently came back from France, where I signed a agreement with a large component producer that we will be collaborating with”, says Valer Blidar. ...more »
June 30, 2016 13:42
The Ministry of Energy proposed the Government to freeze the price for natural gas for population for the next nine months, until 31st of March 2017, according to a draft decision.  The current calendar agreed by the government with the ...more »
June 30, 2016 13:38
Law firm PeliFilip assisted Argo Group in the sale of retail park Shopping City Sibiu to NEPI, a 100 million euro transaction , which sets it as one of the reference real estate transactions in Romania in 2016. PeliFilip legal team involved in the transaction was coordinated by Oana Bădărău and included them on Gianina Gavanescu and Mihaela Ispas, Senior Associates....more »
June 21, 2016 16:13
After 4 years of insolvency, the Bucharest Court decided on the 21st of June that hydro power producer Hidroelectrica can exit insolvency. Since 2012, Hidroelectrica has faced two insolvency procedures (2012-2013 and February 2014 – to date). During this years the company returned loans to banks and cancelled 11 onerous bilateral contracts worth 1.1 billion euro with several energy traders and final consumers: Energy Holding, Alpiq Romindustries, Alpiq Romenergie, Energy Financing Team, Alro Slatina, ArcelorMittal Galati, Electromagnetica, Electrocarbon, Euro-Pec, Elsid, Luxten....more »
June 16, 2016 16:01
Oscar Downstream, the largest independent oil & gas company, distributor for companies, celebrated on the 15th of June 15 years on the Romanian market. Oscar Downstream's businesses include classical distribution through fuel cards in their own network of 31 stations and fuel distribution in 1500 stations installed directly at the client, as main segments....more »
June 16, 2016 15:58
Ana Hotels, the largest hospitality company in Romania considering its revenue (28.3 million EUR in 2015, and 2.9 million EUR profit), is announcing investments worth 20 million EUR in its properties in Bucharest.  The plan includes complete renovation of the rooms in Athenée Palace Hilton starting 2017, and also erecting a new hotel building with approx. 70 rooms, and a 900 sqm conference hall, both next to Hilton. ...more »
June 10, 2016 09:34
Dräexlmaier, the German producer of automotive components and one of the largest employers in Romania, attracted a financing of 40 million EUR from the European Bank of Reconstruction and Development (EBRD) through an emission of hybrid bonds. The financing adds to another 50 million EUR from a previous loan, bringing the project financing volume to a total of 90 million EUR. The funds are going to be used to increase the production capacity of the factories in Romania, Serbia, Macedonia and Tunisia, and also for financing a new production plant in Republic of Moldova. ...more »
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