Economics
OMV Petrom and ExxonMobil hold the licence for exploration in the Midia XV perimeter
January 29, 2014 14:26
OMV Petrom and ExxonMobil officially got the licence for the deepwater area in the Black Sea’s Midia XV perimeter after the Government’s Decision in that respect was published yesterday in the Official Gazette of Romania, according to an informing sent to the Bucharest Stock Exchange. With the decision in question effective, the contract concluded in October 2012 by ExxonMobil and OMV Petrom, on one side and Sterling Resources and Petro Ventures Europe, on the other, for transferring hydrocarbons exploration and production rights for the said area, came into force....more »
Real estate developer Impact targets an annual turnover of 50 mln euro by 2018
January 28, 2014 12:39
Impact Developer & Contractor, one of the first players in the real estate market in Romania, anticipates an important advance within the coming years in terms of revenue which aims to grow up to 50 million euro annually, by 2018....more »
Farmexim continues its logistics expansion with a 16 mln euro investment
January 27, 2014 16:29
Farmexim, one of the main players in Romania’s medicine distribution market, starts the year with the inauguration of its 16 million euro investment - a logistics center located in Balotesti, near Bucharest. Part of an extensive investment program initiated in 2012 meant to support the dynamic growth rate recorded over the past years, the new center provides more spacious, modern facilities, being equipped with latest technology so as to obtain increased efficiency of all operations....more »
Raiffeisen and Morgan Stanely to coordinate Hidroelectrica’s IPO
January 27, 2014 14:55
The selection process run by Hidroelectrica in view of appointing an agent for its initial public offering scheduled for June, this year, has been carried out, all technical bids being declared eligible. According to a notification published on hydro power producer’s website, the syndicate consisting of Raiffeisen Caputal & Investment and Morgan Stanely & Co International has been assigned to coordinate the said offering....more »
Nuclearelectrica sues ANRE for constraining it to sell energy at a fixed-price
January 27, 2014 12:54
Nuclearelectrica fights back by suing the National Energy Regulatory Authority (ANRE) after the latter established a fixed-price for delivering electricity, compelling the energy producer to sell electricity at a lower price than the regular one on the market. According to a press release submitted to the Bucharest Stock Exchange, Nuclearelectrica filed last Thursday, January 23, a complaint with the Bucharest Court of Appeal, in that respect....more »
Carpatair, officially in insolvency
January 24, 2014 14:39
Carpatair got approved yesterday its request of becoming insolvent, aiming to proceed with a judicial reorganization.  According to representatives of the airline, their request was due to the damages worth some 30 million euro arose from disputes with the Timisoara Airport concerning anticompetitive activities...more »
Profit of 78 million euro for Bucharest airports in 2013
January 23, 2014 13:18
Bucharest Airports National Company (BANC) reports an increase of 5.4 percent in the number of passengers in the last month of 2013, maintaining a growth rate of over five percentage points for the second month in a row. Overall, the last year brought a progress of 1.35 percent in the passenger traffic for the two airports located in Romanian capital - Henri Coanda International Airport (Otopeni) and Aurel Vlaicu International Airport (Baneasa), according to a BANC’s press release....more »
Dacia's sales are up 19 percent in 2013, setting a new trade record
January 22, 2014 13:04
After reaching record-high sales in 2012, last year was even better for Dacia which managed to improve the previous year performance by recording a 19.3 percent growth in sales, hence amounting to nearly 430.000 units sold throughout the world....more »
EBRD forecasts 2.4 percent economic growth for Romania in 2014
January 22, 2014 11:11
The European Bank for Reconstruction and Development (EBRD) anticipates a 2.4 percent economic advance for the current year, below the World Bank’s estimation of 2.5 percent announced last week....more »
Ovidiu Putura is the new President of CFR's Board. Two of the new members resigned.
January 21, 2014 16:41
Secretary of State at the Romania’s Ministry of Justice, Putura has been elected as President of CFR’s new Board of Directors, which, in its turn, appointed Ionel Voicu (Deputy Director on European Projects) to provisionally replace George Micu as CEO of the railway company until the selection procedure for this position will be eventually finalized, is mentioned in a press release....more »
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