Economics
June 09, 2016 17:18
According to the government, the current technical-economical documentations for public investments, written in 2008, are inconsistent with the developing needs and are not "oriented towards the analysis of the opportunity and necessity of investment objectives", thus affecting the quality of the project and creating major difficulties in financing and implementation....more »
June 07, 2016 16:34
European based International Insurance
Consortium/ IIC Group B.V. have stopped the completion of the
purchase of all shares of the Romanian insurance company Carpatia
Asig. This implicates that IIC Group have also withdrawn its
application ...more »
June 07, 2016 16:16
Hidroelectrica threatened Translectrica and CEZ with a law suit for moral and material prejudice caused by accusations in the power blackout on the 1st of June in counties Valcea and Arges, leaving 150 000 individual and industrial consumers without electricity.
According to Hidroelectrica, the common briefing sent by Transelectrica (energy transportation) and CEZ (energy distribution) was "built on a lie", "tendentious" and "prejudicial". They also state that they have no fault in the matter, since their power flows were 70 MW below the allocated power and they notified Transelectrica about it the day before. ...more »
June 06, 2016 15:13
The consortium of banks consisting of BCR, BRD - Groupe Societe Generale, Banca Transilvania and Raiffeisen Bank was selected to provide securities brokerage and sale of state bonds for population.
Moreover, according to the ministry of Public Finance, the four financial institutions will not charge any cost to individuals for the purchase of government securities if the subscription is made through them.
...more »
June 02, 2016 14:50
Private equity fund PAI partners, owner of R&R Ice Cream and Nestlé will form a new entity called “Froneri”. The two are some of the world's top ice cream companies and the joint venture will cover markets in Europe, the Middle East, Africa, South America and the Philippines. The deal is expected to close around the end of the year, subject to employee consultations and regulatory approval, and will employ 15 000 people.
...more »
June 02, 2016 14:10
The companies requesting state aids for investments that promote regional development by creating jobs can be submitted starting Monday, 30th of May, until June 10
The budget for this session is 250 million RON (approx. 55,5 Mil EUR). The procedure consists of several steps. The applications, altogether with the justifying papers will be submitted through post mail or courier with receipt, or in person at the General Registry of the Ministry of Public Finance, mentioning on the envelope: "Unitatea de implementare a schemei de ajutor de stat instituită prin H.G. nr. 332/2014" ( meaning, "The unit for implementing the state aid scheme enforced through H.G. No. 332/2014")....more »
May 30, 2016 21:44
After the approval within the Supreme Council of National Defense (CSAT) of the report edited by the Ministry of Energy concerning units 3 and 4 in Cernavoda, President Klaus Iohannis declared on the 27th of May that the nuclear energy quota will increase to 30-32 %.
According to the president, this change will have a major impact in the economic growth, and also in keeping and creating jobs. ...more »
May 30, 2016 21:42
Private healthcare clinics operator Regina Maria makes its third acquisition in the last two months by purchasing the three Dr. Grigoras medical centers in Timisoara and Lugoj. Six months ago, the company opened their first unit and one of their largest in Timisoara. With this acquisition, Regina Maria aims at being a leader in the western market: "Even though we penetrated this market later, Timisoara is a key-city for us. That is why we are happy to consolidate our local input and have a meaningful geographic presence in just a few months from opening our first clinic in Timisoara", says Fady Chreig, general manager of Regina Maria....more »
May 30, 2016 17:12
Gas transport companies SNTGN Transgaz and GRTgaz France signed a memorandum for cooperation on the 25th of May in Bucharest, in the presence of the Ambassador of France in Bucharest, Francois Saint-Paul, state secretary in the Ministry of Energy, Aristotel Jude, and representatives of French and Romanian specialty companies.
According to Saint-Paul, this is "an agreement for implementing the European Energetic Strategy in Romania" and "it illustrates perfectly the cooperation and the connections that could take place between our countries". The memorandum was signed by President CA Transgaz, Ion Sterian, and the Head of European Funds and International Affairs Ciprian Alic for the Romanian side, as for the French side, it was signed by Thierry Trouve, General Manager of GRTgaz, and Laurent Thery, head of international development of GRTgaz. ...more »
May 26, 2016 12:57
Intel, world’s largest chip producer, shuts down its software development center in Bucharest, active since 2010. The decision follows the restructuring plan of Brian Kraznich, the new CEO, that converts the global strategy from software to hardware activities. Almost 200 IT employees will be set free in Romania, from a total of 12 000 fired worldwide, out of 107 000. The Romanian software engineers were developing and researching open source technologies and next-generation computing solutions. Intel’s independent subsidiary in Galati, Wind River, with 160 employees, will not be affected by the restructuring plan. ...more »
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