Economics
May 30, 2016 21:44
After the approval within the Supreme Council of National Defense (CSAT) of the report edited by the Ministry of Energy concerning units 3 and 4 in Cernavoda, President Klaus Iohannis declared on the 27th of May that the nuclear energy quota will increase to 30-32 %. According to the president, this change will have a major impact in the economic growth, and also in keeping and creating jobs. ...more »
May 30, 2016 21:42
Private healthcare clinics operator Regina Maria makes its third acquisition in the last two months by purchasing the three Dr. Grigoras medical centers in Timisoara and Lugoj.  Six months ago, the company opened their first unit and one of their largest in Timisoara. With this acquisition, Regina Maria aims at being a leader in the western market: "Even though we penetrated this market later, Timisoara is a key-city for us. That is why we are happy to consolidate our local input and have a meaningful geographic presence in just a few months from opening our first clinic in Timisoara", says Fady Chreig, general manager of Regina Maria....more »
May 30, 2016 17:12
Gas transport companies SNTGN Transgaz and GRTgaz France signed a memorandum for cooperation on the 25th of May in Bucharest, in the presence of the Ambassador of France in Bucharest, Francois Saint-Paul, state secretary in the Ministry of Energy, Aristotel Jude, and representatives of French and Romanian specialty companies. According to Saint-Paul, this is "an agreement for implementing the European Energetic Strategy in Romania" and "it illustrates perfectly the cooperation and the connections that could take place between our countries". The memorandum was signed by President CA Transgaz, Ion Sterian, and the Head of European Funds and International Affairs Ciprian Alic for the Romanian side, as for the French side, it was signed by Thierry Trouve, General Manager of GRTgaz, and Laurent Thery, head of international development of GRTgaz. ...more »
May 26, 2016 12:57
Intel, world’s largest chip producer, shuts down its software development center in Bucharest, active since 2010. The decision follows the restructuring plan of Brian Kraznich, the new CEO, that converts the global strategy from software to hardware activities.   Almost 200 IT employees will be set free in Romania, from a total of 12 000 fired worldwide, out of 107 000. The Romanian software engineers were developing and researching open source technologies and next-generation computing solutions.  Intel’s independent subsidiary in Galati, Wind River, with 160 employees, will not be affected by the restructuring plan. ...more »
May 25, 2016 11:44
The Ministry of Economy, Commerce and Business Environment, altogether with the Ministry of Public Finance are preparing a new state aid scheme for small projects. Costin Borc, Minister of Economy, declared that so far, the state aids were accessible mostly to multinational companies, as small enterprises could not associate with major projects: "We do not want any discrimination between the Romanian and foreign capital, that is not even possible, but we are thinking that there are investors that could develop smaller projects and benefit also from state aids. The Government's wish is to support production anywhere in Romania."...more »
May 21, 2016 08:35
After losing an estimated 500 million EUR investment from Daimler in Sebes for new a engine plant with 1500 employees, Ministry of Economy, Costin Borc, reveals that Romania might not have been in the cards from the beginning: "The main condition for Daimler's investment was that the production to reach in a maximum of 17 hours from that factory's gate to the plant in Bremen, and from this point of view, Sebes was not a serious competitor for the engine plant, because of the logistic chains." ...more »
May 19, 2016 15:37
The recently created Airbus Helicopters Industries, a division of Airbus Group, is going to need 350 new employees for the H215 helicopter line of assembly in Brasov.  Airbus Helicopters Industries develops a helicopter plant in Ghimbav, and is responsible with building this line of assembly, and also sales and export worldwide. Airbus has partenered with the aeronautics industry in Romania to implement this new project: "2015 turned out to be a year of growth, since the new company Airbus Helicopters Industries was created and opened the road to a stronger collaboration and strengthened our connections with the Aeronautics Industry in Romania", says Serge Durand, general manager Airbus Helicopter in Romania.  ...more »
May 13, 2016 14:30
The Ministry of Agriculture will send 12 attachés within the diplomatic missions from abroad, in order to represent Romania and promote its products for export in countries such as Germany, Spain, Turkey, China Russia, Egypt, Israel, USA (these will be the first 8 countries).  According to the Minister of agriculture, Achim Irimescu, the local producers requested this measure, in order to export more processed or high-quality products, as the ones recently protected at European level....more »
May 04, 2016 11:21
Following the announced acquisition of SABMiller by the Belgians from AB InBev for an estimated 100 billion EUR, the new owners announced the intention to sell the assets and local beer brands from Central and Eastern Europe, including Romania. Ursus, Timisoreana, and Ciucas are the Romanian brands in SABMiller's portfolio that will be up for sale in order to win approval from the European Commission.  ...more »
May 04, 2016 09:22
The Chinese from China Energy Company (CEFC) are the new major shareholders of Rompetrol Rafinare, after closing a deal with KazMunayGas (CN KMG), Kazakhstan’s national company for oil and gas.  The preparatory arrangements for this deal were taken care of by experts from Kazakhstan, China, and Romania, and made possible signing the Memorandum of Agreement on 14 December 2015 in the presence of the Chinese and Kazakhstani Prime Ministers, as well as its validation by the main parties of the transaction on 29 January 2016 (Term Sheet). ...more »
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