Economics
The sky is the limit in agriculture. Without a proper irrigation system it remains weather-dependant
April 06, 2014 12:52
Last year’s boost in agricultural production is little likely to occur again, not because the potential lacks, but because Romania’s agriculture is still weather-dependant. The agribusiness sector had a positive impact on the country’s economic growth in 2013, likewise the industry which was the main field fuelling the 3.5 percent advance in the Gross Domestic Product – the agriculture recorded a 1.7 percent contribution to the GDP’s growth rate, translated into a contribution of 6.9 percent to the GDP’s nominal value, according to the data released by the National Institute of Statistics (INS)....more »
CEZ weighs up the sale of a stake in Fantanele-Cogealac wind park
April 04, 2014 12:08
CEZ considers the sale of a minority stake in the Fantanele-Cogealac wind farm in Romania, according to Reuters. The investment of 1.1 billion euro is the largest land-based one in Europe, having an installed capacity of 600 MW. The...more »
Vasile Varvaroi will lead Cargill’s business in Romania
April 03, 2014 15:08
The American group Cargill, an international producer and marketer of food, agricultural, financial and industrial products and services, appoints Vasile Varvaroi as General Manager of the Romanian subsidiary, position he will effectively take as from June 1, 2014, a press release announces....more »
LUKERG Renew, 67 mln euro loan agreement to finance Gebelesis wind farm in Romania
April 02, 2014 16:18
LUKERG Renew, a joint venture between ERG Renew (part of Italian group ERG) and LUKOIL- Ecoenergo (Russia), concluded a finance agreement with Raiffeisen Bank International AG and ING Bank NV for the 70 MW Gebelesis wind farm located in Galati region, according to a press release. The contract corresponding to the 67 million euro loan was signed through LUKERG’s subsidiary, Corni Eolian, and has a validity period of 11 years....more »
Hidroelectrica's debt, reduced by 67 pct since insolvency
April 02, 2014 14:29
Hidroelectrica continues reducing its financial liability after refunding the remaining balance of a short-term loan worth 80 million euro granted in 2009 by Alpha Bank. According to the company, last week, it also closed an investment loan of 100 million euro contracted in 2011 from the European Bank for Reconstruction and Development, without drawing under the credit agreement....more »
Carrefour brings a new hypermarket format in Romania
April 02, 2014 11:47
French group Carrefour is paving the way for launching Supeco in the Romanian market, a cash&carry hypermarket positioned in the B2C segment. The first units will be probably opened in Giurgiu, Ramnicu Valcea and Targoviste, as for these loc...more »
Arcelor Mittal terminates the contract with Nuclearelectrica
April 01, 2014 18:52
Steel mill ArcelorMittal Galati has unilaterally terminated the contract concluded in February 2013 with Nuclearelectrica through which purchased about 1.86 TWh, according to an informing the nuclear power company sent to the Bucharest Stock Exchange. As per the details of the transaction worth some 337 million lei the delivery of the electricity was scheduled between March 05, 2013 and September 30, 2014....more »
Misu Negritoiu’s appointment as Head of ASF, passed by the Parliament
April 01, 2014 15:44
Romania's Parliament today voted Misu Negritoiu as Head of Romania’s Financial Supervisory Authority (ASF). Formerly General Manager of ING Bank Romania, Negritoiu has been proposed by Prime Minister Victor Ponta at the leadership of ASF, his nomination being approved on Monday, March 31, by the joint finance-budget-banking committees....more »
BNR keeps the annual monetary policy rate at 3.5 percent
March 31, 2014 15:39
The Board of Romania’s Central Bank, BNR, decided on March 28, to keep the monetary policy rate at 3.5 percent per year, following successive drops which lead to this historic low. According to a press release, the other decisions took during ...more »
ANRE: no risk of overcompensation in the current subvention scheme for green energy
March 31, 2014 14:32
Romania’s Energy Regulatory Authority, ANRE, has established that there isn’t any risk of overcompensation related to the support scheme corresponding to the renewable energy production, according to a report released on March 28. Thus, the ...more »
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