Economics
Romania is an attractive market for investors in the agribusiness sector
September 20, 2013 12:30
The foreign investors have bought around 1 million hectares over the last 7 years and they are expected to massively increase the farmland acquisitions once the land market liberalization comes into force in January 2014. The Romania's cereal production has doubled since 2007 confirming the great potential of local agriculture. And this potential, along with cheaper land prices compared with the rest of EU are attractive for international investors who have great financial power....more »
BCP can sell Millenium Bank Romania upon its restructuring plan was approved by European Commission The sale of the Romanian u
September 20, 2013 12:24
The sale of the Romanian unit of the largest Portuguese bank listed on the stock is included in the BCP's restructuring plan. “The plan foresees the sale of BCP’s operation in Romania in the mid-term, as well as the sale of the bank’s shareholding in Piraeus Bank, acquired as part of the sale of Millennium Bank Greece,” BCP said in a statement....more »
One of the largest onshore wind farms of Europe with a 225 megawatt capacity near the Black Sea coast
September 20, 2013 12:08
Following a development stage of more than four years and a construction phase of approx. one year, VERBUND, Austria's leading electricity company, is putting into operation one of the largest on-shore wind farms of Europe, located near the Romanian Black Sea coast. Roughly one half of the 225 MW wind farm has been connected to the grid, further wind farms are to follow until the beginning of 2014. The investment volume is approx. € 380 million. A further expansion stage to 280 MW is planned until 2016. "Wind power is the ideal addition to our generation focus of hydropower, and Romania offers good overall conditions for our investment," says  CEO Wolfgang Anzengruber on the occasion of the festive opening in Bucharest. ...more »
A grain stock exchange in Romania, after 65 years
September 20, 2013 11:14
Romania will have again, starting 2014, a cereal stock exchange, which will be based in Corabia, Olt County.The project is included in the Regional Operational Program and is running in a partnership with the Romanian Commodities Exchange (BRM).Trading will be most likely made through forward contracts (it means that the shipping date is prior agreed, as well as the payment due date)....more »
Romania, in top 5 oil and gas producers in Europe
September 20, 2013 10:53
Romania ranks 5th in Europe in production of oil and gas after Norway, Great Britain, The Netherlands and Denmark according to Vasile Iuga, Managing Partner at PriceWaterhouse Coopers (PwC), South-Eastern Europe.The oil and gas produced in Romania amounted to 102 million BOE (Barrel of Oil Equivalent) last year, while Norway, the major European producer, drew 1.3 billion, followed by Great Britain – 583 million BOE, The Netherlands – 520 million BOE and Denmark – 114 million BOE.At the same time, Romania's dependence on imports is 25%, below the European average which is 50%....more »
Economic freedom increased in Romania compared to 2012
September 20, 2013 10:52
Romania is ranked 45 among the World's freest economies, scoring 7.32 points out of 10, six places up over 2012 in a top carried out by Canadian research institute, Fraser.According to the 'Economic Freedom of the World: 2013' annual report, the World's freest economies are: Hong Kong, Singapore, New Zealand, Switzerland, United Arab Emirates, Mauritius, Finland, Bahrain, Canada and Australia. On the other side there are Venezuela, Myanmar, Republic of Congo, Zimbabwe and Chad....more »
Romania, the highest increase in construction field among EU stats in July
September 20, 2013 10:00
Romania registered the largest increase in production in the construction sector in Eu in July 2013 on June 2013. EUROSTAT reports an increase of 8,6% in Romania, while in EU there was an increase of only 0,7% and of 0,3% in euro area.Among the EU Member States, production in construction rose in nine, fell four and remained stable in The Netherlands...more »
112 million euro intermodal terminal at Timisoara Airport
September 20, 2013 09:57
Timisoara Airport wants to build an intermodal terminal to ensure a connection between airport and transportation in order to possibly increase the number of passengers. The new terminal might bring 2 million more passengers according to the estimates Daniel Idolu, General Director at ‘Traian Vuia’ International Airport announced. ‘We consider building an intermodal terminal in Timisoara so that the transfer between aircraft and transportation is faster, to have an integrated system and merchants to provide tickets for public transportation. ...more »
Automotive manufacturing segment businesses exceeds EUR9 billion in 2013
September 19, 2013 17:07
Despite the economic crisis, the Romanian automotive industry turnover has continuously increased up to EUR13,27 billion in 2012, EUR3 billion more than 2010. Almost 70% of this amount was generated by the auto parts manufacturers – more than 600 companies in the field....more »
Dacia plant became an important target for investors
September 19, 2013 17:07
Dacia plant became an important target for investors in the automotive supply field due to the EUR2 billion Renault Group invested in Romania.'There are 648 suppliers of parts for series production, 248 suppliers of aftermarket parts and another 108 companies working with Renault Romanian branch. We aim to give our suppliers the opportunity to develop. We are aware that it means spending money, but it will prove to be worth the effort. Dacia is now looking for plastic parts suppliers, powertrain foundry suppliers, aluminum wheels, steering columns and aluminum recyclers suppliers....more »
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