Economics
April 02, 2014 16:18
LUKERG Renew, a joint venture between ERG Renew (part of Italian group ERG) and LUKOIL- Ecoenergo (Russia), concluded a finance agreement with Raiffeisen Bank International AG and ING Bank NV for the 70 MW Gebelesis wind farm located in Galati region, according to a press release. The contract corresponding to the 67 million euro loan was signed through LUKERG’s subsidiary, Corni Eolian, and has a validity period of 11 years....more »
April 02, 2014 14:29
Hidroelectrica continues reducing its financial liability after refunding the remaining balance of a short-term loan worth 80 million euro granted in 2009 by Alpha Bank. According to the company, last week, it also closed an investment loan of 100 million euro contracted in 2011 from the European Bank for Reconstruction and Development, without drawing under the credit agreement....more »
April 02, 2014 11:47
French group Carrefour is paving the way for launching Supeco in the Romanian market, a cash&carry hypermarket positioned in the B2C segment. The first units will be probably opened in Giurgiu, Ramnicu Valcea and Targoviste, as for these loc...more »
April 01, 2014 18:52
Steel mill ArcelorMittal Galati has unilaterally terminated the contract concluded in February 2013 with Nuclearelectrica through which purchased about 1.86 TWh, according to an informing the nuclear power company sent to the Bucharest Stock Exchange. As per the details of the transaction worth some 337 million lei the delivery of the electricity was scheduled between March 05, 2013 and September 30, 2014....more »
April 01, 2014 15:44
Romania's Parliament today voted Misu Negritoiu as Head of Romania’s Financial Supervisory Authority (ASF). Formerly General Manager of ING Bank Romania, Negritoiu has been proposed by Prime Minister Victor Ponta at the leadership of ASF, his nomination being approved on Monday, March 31, by the joint finance-budget-banking committees....more »
March 31, 2014 15:39
The Board of Romania’s Central Bank, BNR, decided on March 28, to keep the monetary policy rate at 3.5 percent per year, following successive drops which lead to this historic low. According to a press release, the other decisions took during ...more »
March 31, 2014 14:32
Romania’s Energy Regulatory Authority, ANRE, has established that there isn’t any risk of overcompensation related to the support scheme corresponding to the renewable energy production, according to a report released on March 28. Thus, the ...more »
March 31, 2014 12:22
No investor has submitted a biding offer for taking over the stake Oltchim S.A owns in Oltchim SPV S.R.L by the deadline which expired last Friday, March 28, 11:00 a.m. Four potential investors purchased the Presentation file for 20.000 euro plus VAT, but no biding offer was received in due time. However, as per an informing sent to the Bucharest Stock Exchange, after the established period of time for placing binding offers ran out, there was one sent, though, not considered since it was not in line with the related provisions and therefore, it will be returned....more »
March 31, 2014 10:41
The short-list for the upcoming 9th annual EuropaProperty SEE Real Estate Awards, representing the most outstanding and accomplished projects, companies and individuals throughout the SEE region in 2013, has been announced. Furthermore, leading players from the dynamic SEE real estate markets are now braced to take part in the region’s premier commercial real estate awards event on April 10th 2014, at the Athenee Hilton Hotel, Bucharest, Romania. ...more »
March 28, 2014 15:20
Bert Fol left Russia for taking over the leadership of Radisson Blu Hotel, Bucharest, the largest five star hotel in the country.  He replaces Yilmaz Yildirimlar who has been promoted as Regional Director Park Inn Hotels in Russia....more »
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