Economics
March 15, 2016 16:43
The Association of the Electricity Suppliers in Romania AFEER, proposed a set of changes for energy Law no. 123/2012. The suggestions were made through the association president Ion Lungu, regarding the implementations of new rules that apply in an equitable manner to all the participants in the market and in conformity with the EU practices. The amendments propositions cover all the identified gaps and tackle the issues in the actual law with the declared purpose of having an equidistant and transparent electricity market for all the participants....more »
March 15, 2016 16:31
According to WWF Romania, the country hosts some of the most extended agricultural surfaces and high nature value farmlands (HNV) in Europe (over 30% of the country’s agricultural surface, reaching 5 million ha). The terrains are situated in Transilvania, Maramures, the Subcarpathians, and the S-E region. They are characterized by natural and semi natural vegetation, rich in species and natural elements like forests, stone fences, bourns, meadows, etc. The main economic activity in these areas is traditional agriculture. ...more »
March 15, 2016 16:26
The green celebration of St. Patrick’s Day hits the streets of Bucharest on Sunday, March 20th, with a Parade organized by Ireland Romania Network.  His Excellency, Mr. Derek Feely, Ambassador of Ireland to Romania, and Mr. John Long, president of Ireland Romania Network will open the parade that starts on Kiseleff Blvd., at the Peasant’s Museum, at 3 PM, and will finish two hours later in front of the Romanian Athenaeum. ...more »
March 14, 2016 16:21
UPS, the global leading logistic services provider has a new Country Manager for Romania, Hungary and Greece. The Irish Jim Kearney has a background of 27 years of experience in UPS and will be coordinating a team of approximately 650 employees.  His responsibilities include operations, business development, and the UPS strategy in the three countries.  Over the years, Kearney’s career in UPS evolved from a simple administrative worker in the financial-accounting department of UPS UK, to several positions within the same department, and later on became office manager for European Consolidated Service Center in Dublin....more »
March 14, 2016 14:13
Courier and parcel services firm DPD Group leased17,000 square meters of buildings and logistics platforms in WDP Park Sibiu. The space will be used for a new distribution center that will be inaugurated in the course of 2016.  ...more »
March 10, 2016 09:34
In 2014, a government decision (HG 495/2014) was laying the grounds for helping large energy consumers' energy bill by introducing a reduction of 85% from the price of acquisition of green certificates. The state aid would be awarded to the companies as an “agreement of exception” after applying for it at the Ministry of Economy with a range of documents that prove investments in energy efficiency. The amount of the green certificates was estimated at about EUR 750 million in ten years this value being transferred to other consumers, especially on SMEs. ...more »
March 09, 2016 13:51
MedLife and other group entities were granted 56 million EUR from a syndicate of banks made up of Banca Comercială Română, as coordinator, BRD-Groupe Société Générale, ING Bank N.V Amsterdam – Bucharest Branch, and Raiffeisen Bank. MedLife will use the resources in order to develop its business and consolidate its position on the Romanian market.  ...more »
March 08, 2016 14:19
bpv Grigorescu Ştefănică advised the Chinese company Ningbo Joyson Electronic Corporation (Joyson Electronics) in a transaction valued at $920 million, by which the company acquired Key Safety Systems. This is one of the largest transactions in the automotive sector of the early 2016. Joyson Electronics, one of the world’s leading suppliers of automotive components, has signed the agreement for the acquisition of the auto supplier Key Safety Systems. Key Safety Systems, a US manufacturer of security systems for the automotive industry, such as airbags, steering wheels, seat belts, is operating in 32 locations around the world, including Romania, where it is present with facilities in Arad and Hunedoara. It is predicted that the transaction will result in a company with annual sales of $3 billion employing approximately 20,000 people. ...more »
March 05, 2016 09:14
Romania could become one of the best places for entrepreneurship in Europe but Romanian entrepreneurs with vision, planning on extending their opperations to regional level do not receive institutional support, said Bogdan Ion, Country Managing Partner of EY in the opening session of the Romanian Business Leaders Summit. He gave the example of Mircea Tudor, whose innovation for plane scanner "is now promoted by the Swiss government and receives tax breaks." Romanian Business Leaders Foundation Leaders is an association that aims to develop a platform for social action and involvement of private sector leaders. The ultimate goal is for Romania to become a better country for doing business responsibly. The expanding sommunity of Romanian Business Leaders includes over 400 entrepreneurs and heads of companies in Romania working voluntarily in concrete projects they generate in education, entrepreneurial culture and good governance....more »
March 05, 2016 07:25
European Commissioner Cretu mentioned during a press conference that Romania has significant delays on a number of areas for European funds. “Romania has so far met 14 out of 22 requirements set by the European Commission, but still has areas with significant delays” said Cretu. She adds that there are 280 investment projects for the next years regarding healthcare facilities nd 65 emergency care rooms at county hospitals and three regional hospitals. This follows the recent announcement by the European Commission that payments for Sectoral Operational Programme for Human Resources Development POSDRU will be interrupted again because of irregularities in the way of project selection, discovered by European officials in a mission audit conducted last year between October 21 to November 10. POSDRU payments were discontinued or suspended by the EC several times in recent years, amid suspicions of fraud. ...more »
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