Economics
August 25, 2014 15:55
Baroness Arielle Malard de Rotschild will be supported by the Department for Energy for a position within the future Board of Directors of Electrica, while Victor Cionga and Victor Grigorescu are the candidates designated by the Romanian State for becoming members of the board which will be established on September 22, 2014, when the first General Meeting of Shareholders subsequent to the company’s IPO is scheduled....more »
August 25, 2014 13:53
Romania has registered record rapeseed yield in 2014 which exceeded 1 billion tons, the largest harvest since 1970, according to the preliminary data from the Ministry of Agriculture and Rural Development....more »
August 22, 2014 15:56
Raiffeisen Bank Romania announces declining net profit of 45 million euro for the first six months of 2014, in the similar period of the past year the bank registering 60 million euro profit after tax....more »
August 22, 2014 15:22
The Department for Energy has issued a draft ordinance which established important tax facilities for the investor that will engage in the project regarding the 1000 MW pumped-storage hydropower station at Tarnita-Lapustesti, the Cluj County....more »
August 21, 2014 21:34
Praktiker has improved the financial results in the first half of this year, reporting operating profit of nearly 12 million lei triggered by the restructuring process launched after the Do-It-Yourself company was took over by Turkish businessman Omer Susli....more »
August 21, 2014 20:40
Bank of Cyprus announces the transfer of the interest held in the Society of Grand Hotel Companies which owns JW Marriott hotel in Bucharest to Austrian group Strabag in a transaction estimated at 95 million euro. The sale is expected to be carried out by the end of September, 2014, yet, in case of a delay, its completion shall be no later than late-October, 2014...more »
August 18, 2014 14:07
Following last year’s performance when Romania’s gross domestic product grew beyond expectations, the provisory data published by Eurostat and further confirmed by the National Institute of Statistics moderates the optimism about the domestic economy which recorded two consecutive drops of the GDP. Romania entered, therefore, in technical recession, as the GDP declined by 0.2 percent in Q1 2014 over the previous quarter and by 1 percent in Q2 2014 compared to Q1, respectively....more »
August 18, 2014 11:52
Romania has seen a decline in foreign direct investment inflows in the first six months of 2014 which fell by 10.3 percent year-on-year. According to the latest report of Romania’s Central Bank, the volume of direct investment of non-residents in Romania totaled nearly 1.2 billion euro, a marginal advance compared to the previous analyzed period between January 1 and May 31, 2014, when FDI came to almost 1.1 billion euro....more »
July 30, 2014 06:02
Romania's largest thermo energy producer, Electrocentrale Bucharest, set up a joint venture with Japanese firm Marubeni Corporation to develop a gas power plant with a total installed capacity of 250 MW. The investment for the plant located in Fantanele, Mures county will amount to about 170 million euros.
The joint venture, SC Fântânele Gas Power SA, will be owned 90% by Marubeni Corporation and the remaining 10% of shares by Electrocentrale Bucharest, the company being operated as an independent power producer. The project involves the development of electricity generation units powered by natural gas, located inside the former Fântânele thermoelectric plant, which is currently disused....more »
July 18, 2014 09:38
Former partner Perry Zizzi returns to Dentons after seven years since he left the team, the law firm announces. Zizzi will lead the Bucharest banking&finance group and will be a core member of the real estate team, covering Europe and beyond....more »
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