Economics
April 10, 2016 08:21
Invia, the largest online travel agency in the Czech Republic, and one of the most notorious online travel deals providers in Central and Eastern Europe owned by MCI Tech Ventures, was purchased by Rockaway Capital SE, member of a private and risk capital investment house in the Czech Republic, with offices in San Francisco, and Sao Paolo. Rockaway Capital SE was legally assisted by Wolf Theiss law firm, more exactly by its branches from Bucharest, Prague, Poland, Hungary and Slovakia. For the component in Romania of the transaction (Invia Travel SRL), Ileana Glodeanu, coordinating partner of Corporate practices and M&A in Bucharest, and Marius Ciocirlea, senior lawyer, coordinated the team of lawyers....more »
April 10, 2016 08:01
Local courier services firm Sprint Curier announced a strategic partnership with Urgent Cargus. Within this partnership, starting the 11th of April, the internal deliveries in Romania will be taken over by Urgent Cargus, while Sprint Curier will focus on international deliveries. The announcement only says the two companies joined forces to provide clients with an extensive delivery network and a better pickup process and delivery of parcels, not saying if the company was acquired by Urgent Cargus....more »
March 29, 2016 12:06
Electrica’s attempt to take back its subsidiaries’ holdings from Fondul Proprietatea (managed by Franklin Templeton Investment Management Limited UK- Bucharest Branch) has not crystalized into a transaction, after several rounds of negotiations between the two. The subject of Electrica’s request refers to the four companies where it now has the majority of shares - Electrica Distribuție Transilvania Sud SA ("EDTS"), Electrica Distribuție Transilvania Nord SA ("EDTN"), Electrica Distribuție Muntenia Nord SA ("EDMN"), and Electrica Furnizare SA ("EF").  ...more »
March 28, 2016 18:30
A growth of 3.65 million USD was registered in 2015 on the Mergers and Acquisitions market in Romania according to Ernst & Young. This, despite the reduced number of transactions, compared to the previous year. Florin Vasilica, the head o...more »
March 25, 2016 14:26
The first desalinization station through reverse osmosis powered by renewable energy sources and entirely automatic was launched by Monsson Middle-East in Qatar, on 16th of March. The beneficiaries will be able to access desalinized fresh water with lower expenses for energy and consumption, and they are sure this is the perfect solution to deal with increasing energy requests without utilizing fossil fuel, but only nature force....more »
March 25, 2016 11:00
Corporate Compliance is a hot topic nowadays in Romania since private companies have an increasing interest in developing policies and procedures which are meant to protect them from potential situations of waste, fraud, and abuse, either intentional or unintentional. The subject was debated over a full day event in Bucharest at the Compliance Conference hosted by Wolf Theiss, Trace International, Ernst & Young and the US Embassy in Romania and proudly supported by GOVNET....more »
March 15, 2016 16:43
The Association of the Electricity Suppliers in Romania AFEER, proposed a set of changes for energy Law no. 123/2012. The suggestions were made through the association president Ion Lungu, regarding the implementations of new rules that apply in an equitable manner to all the participants in the market and in conformity with the EU practices. The amendments propositions cover all the identified gaps and tackle the issues in the actual law with the declared purpose of having an equidistant and transparent electricity market for all the participants....more »
March 15, 2016 16:31
According to WWF Romania, the country hosts some of the most extended agricultural surfaces and high nature value farmlands (HNV) in Europe (over 30% of the country’s agricultural surface, reaching 5 million ha). The terrains are situated in Transilvania, Maramures, the Subcarpathians, and the S-E region. They are characterized by natural and semi natural vegetation, rich in species and natural elements like forests, stone fences, bourns, meadows, etc. The main economic activity in these areas is traditional agriculture. ...more »
March 15, 2016 16:26
The green celebration of St. Patrick’s Day hits the streets of Bucharest on Sunday, March 20th, with a Parade organized by Ireland Romania Network.  His Excellency, Mr. Derek Feely, Ambassador of Ireland to Romania, and Mr. John Long, president of Ireland Romania Network will open the parade that starts on Kiseleff Blvd., at the Peasant’s Museum, at 3 PM, and will finish two hours later in front of the Romanian Athenaeum. ...more »
March 14, 2016 16:21
UPS, the global leading logistic services provider has a new Country Manager for Romania, Hungary and Greece. The Irish Jim Kearney has a background of 27 years of experience in UPS and will be coordinating a team of approximately 650 employees.  His responsibilities include operations, business development, and the UPS strategy in the three countries.  Over the years, Kearney’s career in UPS evolved from a simple administrative worker in the financial-accounting department of UPS UK, to several positions within the same department, and later on became office manager for European Consolidated Service Center in Dublin....more »
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