Belgian aerospace company Sonaca signed an 8.5 million Euro loan with the European Bank for Reconstruction and Development for the expansion of the production facility on Romania. The plant, located in Cluj county, will produce wing components for aircraft manufacturers such as Airbus and Embraer. The new plant will be completed in two years. Sonaca Aerospace company, is an 80 year old group operating in the areas of development, manufacturing, assembly and testing of aerospace metallic and composite structures and their associated systems, managed to also get state aid funds totaling 5,4 million EUR in mid September 2015, in order to open the new facility in Romania. ...more »

NNDKP and TPS announces a strategic partnership in a time when intra-group transactions have become one of the "hottest" areas of taxation. Started as an initiative of the G8 and further developed by the OECD, the Action Plan against BEPS will determine the most likely changes in tax legislation concerning the business models of groups of companies, focusing on the economic content of transactions and prices that of transactions between affiliates....more »

Following a campaign to track down undeclared income of wealthy Romanians, the National Agency for Fiscal Administration (ANAF) found almost 87 million lei that will be subject to taxation. The 336 individuals checked, each with an estimated wealth of over 20 million euro per person were unable to prove the legit source and taxed money. ...more »

Romania's budget for next year drafted by the former Ponta government is built on a deficit of 2.95 percent of GDP and 2.8 percent in cash, based on an economic growth of 4.1percent , fueled by mainly by consumption and investments, while GDP was estimated at 746.6 billion lei. The annual average inflation is forecast at 0.5 percent and the average rate at 4.44 lei / euro....more »

According to the Statistical data report on the 2014 postal services marketpublished by ANCOM, 2.3 times more postal parcels were processed in Romania last year, compared to 2013, 90% of which were processed by private providers. The total postal traffic kept a moderately growing trend in 2014, registering an increase by more than 10%, i.e. exceeding 600 million items. Out of these, over 95% were processed by the universal service provider and by other ten large volume private operators...more »

According to Eurostat, the statistical office of the European Union, the three countries have the highest economic growth rates in the EU in the second quarter of 2015, compared with the similar period of 2014. All the EU member states reported Gros...more »

The National Institute for Statistics announced that an increase in the production volume is expected by the managers in the processing industry, while construction, retail trade and services anticipate growths in their respective activities. &n...more »

Freight traffic registered through the three Romanian maritime ports is up 20 percent from January through May to more than 23 million tonnes.  The Maritime Ports Administration National Company of Constanta informed in a release that the ma...more »

VentureConnect, the leading pitching and networking event in Romania, organized by Govnet Conferences together with BirisGoran Law firm hosted the 11th edition on June 3 in ASE’s Aula Magna, Bucharest. For the first time in Romania, VentureConnect welcomed for its pitching session Tina Baker, co-founder of JAG Shaw Baker and member of the Seedcamp Advisory Board. ...more »

Recolamp Association, a non-profit association specializing exclusively in the waste management of lighting equipment has published its annual activity report for 2014. Recolamp administered a budget of approximately 6,000,000 lei, representing the Green Stamp of 0.9 RON (plus VAT) applied to each bulb sold by the Association member companies. ...more »