Economics
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 »
July 14, 2014 21:18
Romania has attracted larger amounts of foreign direct investment between January 1 and May 31, 2014 compared to the similar period of the previous year, resulting into an advance by 13.9 percent year-on-year. Hence, the volume of direct investment of non-residents in Romania amounted to 1,091 billion euro, as shown in a report released today by the National Bank of Romania...more »
July 11, 2014 11:31
Italy’s power group Enel announced, following a Board meeting held on July 10, 2014, that its generation assets in Slovakia as well as its distribution and sale assets in Romania will be included in the sale programme relative to the strategy of consolidating its financial structure....more »
July 10, 2014 15:21
Renault Commercial Roumanie , the company that handles the sale of Dacia, Renault and Nissan vehicles will have a new CEO starting this fall. Jan Ptacek will take over the leadership as from September 1, 2014, replacing Thomas Dubruel who will be appointed Deputy General Manager of Renault MAIS – the group’s Turkish subsidiary in charge with distribution, states a press release....more »
July 10, 2014 14:04
Consumer prices went down by 0.3 percent in June 2014 compared to the previous month on cheaper food and services, pulling down annual inflation rate to a new historic low of 0.66 percent, according to the data released by the National Institute of Statistics (INSSE). ...more »
July 10, 2014 12:41
Petromidia refinery processed a record amount of more than 465,000 tons of raw materials in May, the highest level since 1979 when it was commissioned, KMG International announced. The previous production record of 14,000 tons per day was therefore surpassed upon the upgrade and production capacity increase to over 5 million tons annually....more »
July 09, 2014 11:21
Building materials manufacturer Adeplast recorded an increasing turnover of 134 million lei (some 30.4 million euro) in the first half of the year, an advance by 35 percent year-on-year, according to Agerpres which cites a company informing. The export segment was one of the growth engines, accounting for nearly 4.5 percent of the reported revenues after an increase of 184 percent compared to H1 2013....more »
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