eMAG reconfigures its shareholding structure upon Radu Apostolescu, one of the founders of the e-tailer, has announced the exit, according to a company release. His 8.4 percent in the company will be divided between the existing shareholders – Iulian Stanciu (21.6 percent) and the South African group Naspers which become the major shareholder in 2012 when took over 70 percent of the total shares. Any additional details on the transaction have not been disclosed up to this point....more »

After acquiring Cargus in October 2012 from DHL, the Polish-based private equity fund manager Abris Capital Partners expands investment in the domestic courier market by taking over Urgent Curier, one of the leading companies in this industry, according to a press release....more »

ELCEN (Electrocentrale Bucharest), the largest domestic thermal energy producer starts a division process which includes the transfer of part of its assets towards two newly established companies, ”Societatea Electrocentrale Constanta S.A.” and ”Societatea Electrocentrale Titan S.A.”. Subsequently, these companies will be taken over by the local authorities, while ELCEN will merge with RADET (the Direction assuring thermal energy distribution in Bucharest), once it is converted into a trading company....more »

The domestic economy has absorbed net investment of approximately 11.2 billion lei in the first quarter of the year, the figures released by the National Institute of Statistics (INSSE) indicating a decline by 7.4 percent year-on-year. The decre...more »

Romtelecom and Cosmote, both controlled by the Greek telecommunications group OTE, whose major shareholder is Deutsche Telekom, started negotiations with Ericsson for outsourcing the maintenance, monitoring and operation network services, announced representatives of the two companies, according to HotNews.ro....more »

Philips Lighting, the global market leader in the development, manufacturing and application of innovative lighting solutions, will have a new general manager as from June 16, Bogdan Balaci being appointed to lead the operations in the Southeast...more »

Renault Twizy, the French-based car manufacturer's all-electric vehicle, is now available in Romania, after four years since the official launching. Romanians who wish to drive a Twizy will have to pay for the two-seater car a starting price of 7000 euro, VAT included, plus the monthly rate for the incorporated battery, states a press release....more »

The first four months of the year have recorded an advance both in terms of tourists’ arrivals and with regard to overnight stays in Romania, according to the data released by the National Institute of Statistics (INSSE). ...more »

A Mission of the International Monetary Fund will arrive next Monday, June 2, in Bucharest for the third review of the 2-year Stand-By Arrangement (SBA). It is an intermediary review requested by the Romanian authorities and it coincides with the planned Article IV consultation and the mid-year budget rectification. ...more »

Romania is placed as the third most attractive destination for foreign investment within the countries in the Central Eastern European region following EY’s annual report, European Attractiveness Survey. Poland and the Czech Republic maintain ...more »