Economics
May 17, 2017 15:11
The Agency for Agricultural Payments and Intervention (APIA) has concluded the campaign for the submission of single payment applications, with the area included in the applications by the applicants covering 9,541,389.45 hectares, 214,524.58 m...more »
May 15, 2017 17:35
Bucharest City's two airports - Henri Coanda and Aurel Vlaicu - have joined the top five Q1 2017 highest rising airports in terms of passenger traffic increases, according to news from the Airports Council International Europe cited by the Bucharest National Airport Corporation (CNAB) in a press statement. In the group of airports welcoming between 5 and 10 million passengers per year Henri Coanda (OTP) was third, with a 21.5-percent increase, after Reykjavik-Keflavik (Iceland) and Kiev. Bucharest Baneasa (BBU) was first in terms of growth in the group of airports welcoming less than 5 million passengers per year. It was followed by Foggia (Italy), Nis (Serbia), Zadar (Croatia) and Oradea, according to ACI Europe....more »
May 09, 2017 16:01
Banca Comerciala Romana posted a net profit of 196.3 million lei (43.4 million euro) in the first quarter of 2017, the bank's representatives announced.  The operating result was 338.0 million lei (74.7 million euro), 2.3 percent higher than the 330.6 lei (74.7 million euro) in the previous year, as an effect of lower operating revenues (under the impact of the settlement of the portfolio of underperforming loans and of lower interest rates) coupled with lower costs.  ...more »
April 28, 2017 11:08
PeliFilip has provided legal advice to Digi Communications N.V. ("DIGI"), the majority shareholder of RCS & RDS SA, regarding the public offering of up to 21,744,108 shares at a bid price expected to be between RON 38 and RON 56 per share and the admission of the shares offered for trading on the Regulated Market at the Bucharest Stock Exchange, International Category. ...more »
April 27, 2017 18:11
OMV Petrom estimates that investments for 2017 will amount to 4.56 bn lei, up 83 pct from the 2.49 bn lei registered in 2016, the company said in a release. The Ordinary General Meeting of Shareholders approved the investment budget of OMV Petrom for this year, with the main investment focus staying on Upstream, for which investments of more than 4.15 bn lei have been budgeted (91 pct of the total), followed by Downstream Oil, with an investment budget of 323 million lei in 2017....more »
April 26, 2017 15:25
Three percent of the total Romanian companies represent the engine of the domestic economy and half of them are in difficulty, according to the third edition of the CITR Group study on the evolution of the impact companies between 2013 and 2015. The number of these impact companies is shrinking, from 23,384 in 2013 to 19,564 in 2015. If this shrinking trend persists, the whole economy may be affected by contagion shows the CITR study. All this in the context in which Romania is not able to generate enough new entrepreneurs to compensate for the imbalance in Romanian business....more »
April 25, 2017 09:26
Austrian company OMV, the major shareholder of Petrom, sued the Romanian state in March 2017, at the International Court of Arbitration (an institution that is part of the International Chamber of Commerce - e.n.) in Paris, for breaching the provisions of the privatization contract regarding the recovery of environment investments, the oil company's report for 2016 reveals.  According to the privatization contract, the Romanian state committed to pay to OMV the amounts that this company would have invested in environmental works related to historical pollution, amounts that were estimated at 542 million euros.  ...more »
April 25, 2017 09:25
Romania, alongside three other EU Member States, had a government deficit (calculated based on ESA methodology, the European Accounts system - e.n.) of 3 pct or more of the GDP, according to a preliminary estimate released on Monday by Eurostat. In contrast, at the end of 2016, Romania was among the EU Member States with the lowest level of government debt against the Gross Domestic Product (37.6 pct). Eurostat points out that it has not made any changes to the data reported by the Member States. The Eurostat data differ from the figures presented in the execution of the consolidated general budget for 2016, according to which last year ended with a 18.3 billion lei deficit, 2.41 pct of the GDP respectively, on the increase by almost one percentage point as compared to the negative balance of 1.47 pct of the GDP in 2015.  ...more »
April 20, 2017 13:15
Renewable energy ensured last year 42.29 percent of the national production of electricity, the highest share being held by the hydro energy, a report of the National Regulatory Authority for Energy (ANRE) regarding the electricity market in 2016 reveals. Therefore, the hydro energy stood at 29.88 percent of the country's overall electric energy production, the wind energy was 11.07 percent, the photovoltaic energy 1.18 percent, and 0.16 percent was produced of biomass. The hydro energy represented the main source of producing energy on a national level, surpassing coal, that ensured 24.37 percent of the total. Nuclear sources represented 17.9 percent, gas contributed to 15.18 percent of the production and crude oil to 0.26 percent of the total....more »
April 14, 2017 14:08
The share capital of the Bucharest Stock Exchange (BVB) will grow to 80.7 million lei after the decision by the Extraordinary General Shareholders Meeting on the merger by absorption with SIBEX, a release on the BVB website reads. "By majority of votes of the shareholders present and represented in the meeting, the merger through absorption is approved between the Bucharest Stock Exchange as absorbing society and SIBEX - Sibiu Stock Exchange, as absorbed society, in accordance with the terms and conditions foreseen within the merger draft dated 24 February 2017," the document says.  ...more »
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