The Executive Board of the International Monetary Fund (IMF) yesterday completed the first and second reviews of Romania’s economic evolution under the conditions agreed in the 2-year Stand-By Arrangement (SBA). The arrangement was concluded last fall and it is treated as precautionary by the Romanian authorities. An IMF Mission came to Bucharest in late-January for a two-week visit for assessing the country's performance in reltion to the economic criteria agreed....more »

Remus Borza, the judiciary administrator of Hidroelectrica, announces major changes within the company’s management. The first one – Adrian Gheorghe, who has been today appointed as Manager of the Financial Department, replacing Gergeta Iosif that has had this position since 2012....more »

Romania’s power grid operator is new member of the American Chamber of Commerce in Romania, an advocacy and business growth professional association. “It is particularly important for Transelectrica the exchange of experience in the fields...more »

Deutsche Bank opens this year in Bucharest a global technology center to support its operations. The center – DB Global Technology - should be inaugurated by the end of June and will initially employ 100 people. Subsequently, the German bank intends to expand the workforce by 500 employees in 2016, according to Mediafax that quotes a press release of the bank....more »

Romania’s courier market is one of the most dynamic in terms of development, recording huge growth year-on-year, especially recently since the e-commerce has started flourishing, becoming a real catalyst of the revenues registered by companies...more »

Nuclearelectrica will provide almost 4 million euro to two of Romania’s most important projects: Tarnita-Lapustesti hydropower plant and the 400 Kv submarine communications cable between Romania and Turkey. The decision was taken during the Ge...more »

Cargus, one of the largest courier companies operating in the Romanian market, has recorded 20 percent higher income in the last year, income which amounted to 25.7 million, based on these figures, 2013 becoming the best-performing year for Cargus since its establishment....more »

A new airline enters the Romanian market. Fly Romania, part of Ten Airways, company owned by Ovidiu Tender, will operate domestic and international flights starting May 15. Departures will be available from Bucharest, Timisoara and Tulcea towards Italy, Spain, Germany and Turkey, the domestic offer including Bucharest-Timisoara and Bucharest-Tulcea routes....more »

French-based company Schneider Electric, also operating Romania today confirmed negotiations on the sale of Custom Sensors & Technologies (CST) division, a transaction worth some 900 million dollar, according to the financial newspaper Les Echos....more »

Alro Slatina, one of the leading aluminum producers in the Central and Eastern Europe, announces that will issue a plan for temporarily closing an important part of its key-production capacities of primary aluminum which will result in a drastic reduction of power consumption, according to a company release. These measures are determined by the higher mandatory quota of green certificates (GCs) set recently by ANRE – Romania’s Energy Regulatory Authority, which will have a negative impact on the company in terms of expenditures, and it could lead to a significant decrease in the number of its employees....more »