In the current context where the privatizations sector checks failure over failure, neither does the private management strategy work better. At least that seems to be the case for TAROM, Romanian Air Transport Company that faces a delicate situation these days. Just as the Board of Directors at TAROM shortened Christian Heinzmann’s mandate, the CEO of the company, from four years to only one year, this summer, it was their turn to be dismissed by the General Meeting of Shareholders (GMS)....more »

Turkish business community is interested in the privatization of Oltchim, Cuprumin and Romanian Post, some of the priorities on the agenda of Romania’s Ministry of Economy announced TIAD (Turkish Businessmen Association in Romania) during a meeting with Andrei Gerea, the recently-appointed minister, also attended by the Turkish Ambassador, Omur Solendil. ...more »

Romania’s Minister of Economy, Andrei Gerea, continues his campaign through which attempts to attract foreign investors to possibly take over Oltchim. Gerea met yesterday with the presidents and specialists of two Chinese companies, BAOTA Petroc...more »

Romania maintains the ranking established last year by the World Bank Group (WBG) as per the Doing Business 2014 report. The recently released report ranks the global economies based on the overall ease of doing business, Romania being the 73rd out of 189 countries....more »

Bucharest Airports National Company (BANC) reported a 7.5% growth of its revenue within the first nine months of 2013 over the past year, reaching almost EUR110 million while the total revenue estimated for the current year is EUR146 million. Additionally, the gross profit registered – about EUR17 million, is three times higher than the amount budgeted for the whole year, states a press release of the company....more »

Romania maintains its first place in Deloitte Central Europe Technology Fast 50 top which includes the most dynamic companies in the technology sector. This the third consecutive years Romania leads the top that is at its 14th edition. The success is due to six companies operating in this sector, being a confirmation of their continuous evolution according to Agerpres....more »

Romanian Railway Group (GFR) will recover the EUR10 million guarantee paid during the privatization procedure of CFR Marfa that eventually failed to be carried out. Also, the EUR20 million escrow account has been unblocked, too....more »

The Vice President and Board Member for the Romanian Competition Council Valentin Mircea has stepped down from the position as of October 2013. Mircea served as VP for four-and-a-half years and said he left his post October 8 of this year. Following his departure, Mircea said he would “revert to the academia” at the Center for Studies in Competition Law at the Bucharest University. ...more »

Jinga, Maravela & Asociatii law firm announces its successful representation of a regional contracting authority in a litigation against the Romania’s Ministry of Environment, through a company release sent to Govnet. The contracting authority whose name cannot be disclosed at this point is a state-owned company running a EUR120 million European funding project....more »

Romanian Government failed to carry out the privatization of CFR Marfa, checking another fiasco on its list. Next foreseeable step: finding someone to blame as both parties involved – the Ministry of Transport and GFR, don’t admit any liability for this failure....more »