The volume of Romania's retail trade increased by 8.7 percent in October 2016 compared to the same month of the year before, making this the second month in a row when Romania's performance is surpassed only by Luxembourg in the EU ranking by retail trade growth, shows data released by the European Statistical Office (Eurostat).  In the euro area, the calendar adjusted retail sales index increased by 2.4 percent in October 2016 compared with October 2015, and by 3.5 percent in the EU28 quotes Agerpress....more »

The National Prognosis Commission left unchanged the economic growth estimations for 2016 and 2017 to 4.8 percent, 4.3 percent respectively, compared to the preliminary version of the autumn prognosis on average term, published in September.  According to the prognosis regarding the projection of the 2016-2020 main macro-economic indicators, the CNP estimates for this year a real economic growth of 4.8 percent, to a nominal GDP of 758.5 billion lei, and for 2017 an increase of 4.3 percent to a value of 807.4 billion lei....more »

The Government has passed a second budget revision this year, a positive one as Finance Minister Anca Dragu said, adding that it is a revision that reflects the efficient manner in which public money has been managed, as well as economic growth. "We adopted today a second budget revision this year. It is a positive one, the second positive this year, which is an excellent picture of our efficient management of public money and excellent economic development. We have secured macroeconomic balance, while providing trust and predictability to investors. ...more »

Romania's leasing industry could attain in 2017 its medium- term growth potential of 15 pct, while the value of financed assets could exceed 2.3 billion euro, president of the Financial Companies Association (ALB) Bogdan Speteanu said on Wednesday at the annual conference of the industry. "Speaking of expectations for the leasing industry in 2017, I would say that we will attain our growth potential. In recent years we came to the conclusion that a figure around 15 percent represents a sustainable growth for the leasing market. In the current context and considering the macroeconomic forecasts for next year, and also in connection with Romania's economic growth rate which hopefully will further stay on tops of the EU charts (...) we consider that a 15 percent growth is realist ic. Next year we hope to see the leasing market go towards 2.3 billion euro," Bogdan Speteanu told the 12th ALB Romania national conference organised together with Govnet Conferences....more »

PeliFilip advised Anchor, the real estate and development group, with respect to the merger of the Romanian group companies owning and operating București Mall and Plaza Mall. The process was designed as a merger through absorption, under which the entire patrimony of the Plaza Mall shopping centre was transferred to București Mall. The preliminary steps of the merger were initiated in March 2016, with the merger becoming effective in October 2016.  ...more »

The largest collaboration and promotion platform dedicated to the Central and Eastern Europeean Outsourcing Industry has been launched in Romania by NNC Services and its strategic partner, ProProgressio Foundation in the presence of both partners and of the Romanian Association ANIS (Association of Software and Services Industry). OutsourcingPortal.ro is a project based on a strategic partnership between NNC Services Romania, leader in marketing consulting services for IT and services companies and the Pro Progressio Foundation, developed with the mission to promote, educate and support all the players of the Romanian outsourcing market....more »

Romania's national passenger railway carrier CFR SA and the European Commission - via its Innovation and Networks Executive Agency (INEA) have signed a funding contract for the upgrading of the Apata-Cata railway portion worth a total 440 milli...more »

The National Bank of Romania (BNR) maintains its inflation estimation for this year at minus 0.4 percent, however it revises upwards the prognosis for next year, to 2.1 percent, from 2 percent, as estimated in August, according to the data of the Quarterly Report on Inflation, presented by BNR Governor Mugur Isarescu.  "For next year, we have a minor upwards revision, by 0.1 percentage points, to 2.1 percent based on the adjusted CORE 2 evolution," Isarescu explained....more »

The pay increase passed on Monday by Parliament will determine a growth of Romania's budgetary deficit to rd 3.5pct of the Gross Domestic Product in 2017, way higher than the International Monetary Fund's recommendation of 2pct of the GDP, on Wednesday said IMF resident representative for Romania and Bulgaria Alejandro Hajdenberg.  This will trigger a cut in investment spending or additional taxes, added Hajdenberg quoted by Agepress.  Within the IMF mission of March 2016, and also based on the subsequent updates, he said, IMF reached the conclusion that given the circumstances Romania's deficit will exceed 3pct of the GDP in 2017 - rd 3.2pct of the GDP. After this pay increase, maintaining the deficit at 3pct of the GDP would be harder, Hajdenberg told AGERPRES on Wednesday, adding that the IMF estimates a net impact of the pay increase of 0.3 - 0.4 percentage points of the GDP....more »

MJ Maillis, the company known for industrial packaging solutions and complete end of line solutions, sold its production facility located on the Bucuresti – Târgoviște road to the plastics manufacturer Prodplast SA in a transaction of over 1.5 million EUR. Prodplast SA has more than 50 years of experience in the plastics processing field, being one of the leading romanian production facilities in the sector. The first plastics processing plant was established in 1957. The company has 100 % private capital, being quoted at Bucharest Stock Exchange. The seller was assisted in this transaction by law firm Peli Filip. ...more »