Economics
April 07, 2014 15:39
BCR, BRD – Groupe Societe Generale, Raiffeisen Bank and UniCredit Tiriac Bank are going to establish the Council of Employers in Romania’s Banking Sector (CPBR), an entity intended to promote its members’ interest in their relations with the authorities, Mediafax informs. The registration procedures have already been initiated, the corresponding documents being submitted to the Bucharest Court, hence it is expected to be completed in the first half of the year – by the end of June 2014....more »
April 07, 2014 13:20
The Danish retailer JYSK has leased 1.200 sqm in ColosseumRetail Park, the new retail box being scheduled for opening this week, on April 10. Located in the North-West Bucharest, the retail park developed by Nova Imobiliare and inaugurated in 2011, has a leasable area of 37.500 sqm, including among its major tenants Carrefour, Altex and Leroy Merlin Bricolage. With the new lease agreement concluded, transaction arranged by Jones Lang LaSalle, there remains a single big box unit available, its letting being currently under negotiations...more »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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