There is an interest from behalf of Austrian companies in investing in Romania, especially in the energy sector, as well as in the transport infrastructure field, according to Michael Schwarzinger, the Austrian Ambassador to Romania, who commented on this subject while attending Romanian Business Breakfast...more »

The General Meeting of Shareholders of CFR, Romania’s National Railway Company, controlled by the Ministry of Transport, decided last Friday to dismiss all the members of the Board of Directors due to their mismanagement which affected the company’s financial situation...more »

US technologies manufacturer Honeywell has reached a definitive agreement with Federal-Mogul Corporation in order to sell its Friction Material Division. The transaction worth about $155 million should be completed in the second half of this year, according to a press release sent to Govnet....more »

The asset-quality in Romania’s banking sector will continue deteriorating in 2014, according to a Fitch Rating analysis which also indicates that it will determine additional impairment provisions which will put pressure on regulatory capital. Banks are likely to remain weak in terms of profitability next year, as the operating environment will remain difficult and the economic recovery, fragile, yet it should slightly increase over 2013, as non-performing loans (NPL) start to stagnate....more »

Ioan and Viorel Micula, the two brothers owners of European Drinks, have won the lawsuit against Romania in the Court of Arbitration in Washington and thereby the Ministry of Public Finance is supposed to pay them about 84 million euro (376 million lei), plus penalties according to Mediafax....more »

The sale of copper concentrate at Cupru Min failed in lack of any biding bids from the two companies which have showed their interest in the negotiation phase - Trafigura PTE LTD Singapore and Yldirim Holding from Turkey....more »

The International Monetary Fund waits for Romanian Government to decide on whether they would like to modify the policies meant to secure the agreed deficit target, Gerry Rice, Director of the Communication Department of IMF, said during a press...more »

With an emerging economy struggling to overcome the impact of the economic crisis, Romania must focus all the efforts on its reindustrialization in order to be able to eventually align with other EU economies. Reindustrialization is thereby a second chance, an essential step for Romania’s economy to grow after 20 years of neglecting the development potential this sector has...more »

As for today, Adrian Apolzan, Director of the Corporate Affairs Division at ING Bank, is the president of the Board of Directors of Romanian Post. His appointment was announced by Ion Smeeianu, the company’s General Manager, quoted by Agerpres....more »

China and Central-East Europe Economic Forum, George Enescu Festival, UEFA Europe League 2012 Final or even the recent football game between Romania and Greece do not seem to have very much in common. Yet, the Bucharest’s hospitality industry surely has a distinct point of view – these events are highly important income sources for the industry. Unfortunately, they are also isolated, remaining occasional, but very welcome revenue resources moreover since the profit from the leisure tourism segment is almost non-existent for some of those in this branch....more »