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 »

Mega Image Romania, controlled by the Belgian group Delhaize, completed last month a 25.2 million euro capital increase destined to support the expansion of the domestic retail network and the construction of a warehouse in Bucharest, Mediafax informs....more »

Investors are showing increasing confidence in investing in the Eastern European region, approaching levels similar to those recorded within 2003 and 2007, reveals Deloitte’s latest survey – Deloitte CE Private Equity Confidence. Some 60 percent of respondents - twice as many as in the previous research and the maximum in the past two years - expect a revival in terms of deal activity, hence the economic downturn might eventually come to an end....more »

Ion-Toni Teau took over the CEO position within Transelectrica, after the Transmission and System Operator and Stefan Doru Bucataru, who formerly held this function had mutually terminated the agreement, is announced by a company release. Teau had been previously the President of Transelectrica’s Supervisory Board and the mandate in the new position ends once the period for which Bucataru was initially appointed expires....more »

The Hungarian-based oil and gas group today announced the sale-purchase agreement with Eni for 208 filling stations in the Czech Republic, Slovakia and Romania where operates under Agip brand. In the related agreement is also included the takeover of Eni’s wholesale business in all three countries. The transaction is part of MOL’s downstream strategy of increasing retail market presence, country coverage and customer base, as explained in a news release. Completion of the deal is subject to the fulfillment of certain pre-conditions, though, among others obtaining of the necessary antitrust clearances....more »

Michelin today announced that its plant in Budapest, Hungary where production includes truck tires sold under the Taurus, Riken and Kormoran brands will terminate operations and will close the next year. The project which has been allocated 39 million euro involves the transfer of production mainly to the company’s facilities in Olsztyn (Poland), Zalau (Romania), Karlsruhe and Homburg (Germany). ...more »