Economics
Romgaz IPO, at the end. Romanian Government gets 1.7 billion lei
November 01, 2013 16:27
Romgaz has successfully completed its first IPO (initial public offering), the Romanian state succeeding to raise RON1.7 billion (USD534 million), nearly to the maximum targeted amount of RON1.85 billion. The offering started on October 22 and ended yesterday and the price per share that initially was estimated between RON24 and RON32 was established closely to the maximal price - RON30 per share and USD9.25 for a GDR (Global Depository Receipts)....more »
Hidroelectrica sells electricity worth 20 million euro
November 01, 2013 12:44
Hidroelectrica concluded contracts worth EUR20 million on the Centralized Market of Bilateral Contracts managed by OPCOM, the Romania’s electricity and natural gas market operator. The said amount was obtained at the auctions OPCOM organized this week, on October 30 shows a company release. ...more »
BT’s gross profit, up 4% after nine months in 2013
October 31, 2013 14:07
Another confirmation of the revival of the Romanian banking sector comes from Banca Transilvania (BT). After yesterday’s report released by BCR, showing a significant improvement after the losses recorded in 2012, the data published this morning by Banca Transilvania certifies the upward tendency in the banking area....more »
Turkish investors confirm interest in Oltchim, Cuprumin and Romanian Post
October 31, 2013 12:20
Turkish business community is interested in the privatization of Oltchim, Cuprumin and Romanian Post, some of the priorities on the agenda of Romania’s Ministry of Economy announced TIAD (Turkish Businessmen Association in Romania) during a meeting with Andrei Gerea, the recently-appointed minister, also attended by the Turkish Ambassador, Omur Solendil. ...more »
Economic growth slightly higher than the 2% estimated by IMF
October 30, 2013 14:50
The 2% economic growth IMF (the International Monetary Fund) estimated for Romania this year will be marginally higher, somewhere between 2.3% and 2.5% announced Daniel Daianu, First Deputy President of the Financial Supervisory Authority (ASF), according to Agerpres. Yet, the improvement is mainly due to the agricultural production which registered record volumes this year....more »
Chinese investors interested in Oltchim, welcomed by Gerea
October 30, 2013 13:27
Romania’s Minister of Economy, Andrei Gerea, continues his campaign through which attempts to attract foreign investors to possibly take over Oltchim. Gerea met yesterday with the presidents and specialists of two Chinese companies, BAOTA Petroc...more »
BCR announces a 127 million euro profit after Q3
October 30, 2013 11:51
While after Q3 in 2012 BCR reported losses of more than EUR 172 million, the Group announces a net profit of almost EUR127 million within the first nine months of this year, keeping the improvement tendency reported for Semester 1. Besides that, the costs related to the risk provisions went down significantly compared to the same period in 2012, registering a decrease by 37.9% to EUR371 million according to the data showed in a BCR release....more »
Ford continues the production suspension program in Craiova
October 29, 2013 15:59
Ford continues the production adjustment policy due to the difficult situation on the European automotive market and reflected by a lower demand for the B-Max model. Hence, the car production is currently suspended in accordance with the afferent plan that stipulates a 13-day suspension of the operations at the Craiova plant, plan that will be extended for November 2013, according to the company’s spokesman quoted by Mediafax....more »
WBG: Romania ranks 73 based on the ease of doing business
October 29, 2013 14:21
Romania maintains the ranking established last year by the World Bank Group (WBG) as per the Doing Business 2014 report. The recently released report ranks the global economies based on the overall ease of doing business, Romania being the 73rd out of 189 countries....more »
Airports in Bucharest – increased revenue and more passengers
October 29, 2013 11:48
Bucharest Airports National Company (BANC) reported a 7.5% growth of its revenue within the first nine months of 2013 over the past year, reaching almost EUR110 million while the total revenue estimated for the current year is EUR146 million. Additionally, the gross profit registered – about EUR17 million, is three times higher than the amount budgeted for the whole year, states a press release of the company....more »
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