Economics
January 20, 2015 17:19
Starwood & Resorts hotel chain enters Romanian market where will operate under the Sheraton brand after concluding a franchise agreement with Grand Plaza Hotel in Bucharest, formerly known as Howard Johnson, reads Mediafax....more »
January 20, 2015 15:26
Oltchim anticipates a significant improvement in its financial evolution corresponding to 2014, the second year of insolvency, when the preliminary results indicate a turnover 25 percent higher year-on-year, increasing exports and an improved EBITDA, according to a press release of the state-owned company....more »
January 20, 2015 11:19
Romania’s main electricity producer and supplier plans to sell additional 33 small hydropower plants (SHPs) from its portfolio of 128 power stations through an auction which will be conducted in February 2015, said Remus Borza, representative of Euro Insol, the judicial administrator of Hidroelectrica (in insolvency since February 2014), according to Mediafax....more »
January 19, 2015 15:43
The European Bank for Reconstruction and Development has maintained the forecasts as regards Romania's economy which is expected to advance by 2.8 percent in 2015, indicates the latest regional report of the financial institution....more »
January 19, 2015 12:51
Dacia's sales moved upwards last year when the group sold nearly 511,500 vehicles, thus maintaining a 19 percent growth rate as in 2013 which drives it on top among mainstream brands in terms of sales in Western Europe. On the domestic market Dacia also increased its sales by 19 percent to circa 29,700 units, the market share standing at 31.2 percent, according to a press release.
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January 16, 2015 14:40
Bucharest-based Raiffeisen Leasing, the subsidiary of Austria’s Raiffeisen Bank International has been provided a 132 million lei (about 30 million euro) loan by the European Bank for Reconstruction and Development, funds which will be on-lent to micro, small and medium-sized enterprises (MSMEs) to finance leases of equipment, trucks, trailers and commercial vehicles, according to a press release of the financial institution....more »
January 14, 2015 16:35
Industrial production in Romania went up between January and November 2014 over the same period last year, increasing both as gross series, by 6.3 percent, and as series adjusted by number of working days and seasonality, by 7.5 percent, announces the National Institute of Statistics (INSSE)....more »
January 14, 2015 15:20
The World Bank has revised its initial estimation on Romania’s economic progress, anticipating and advance by 2.9 percent of the Gross Domestic Product this year, according to the Global Economic Prospects report published on January 14, 2015. In June 2014, the financial institution forecasted a higher growth, of 3.2 percent, however, the growth rate recorded over the past year, which was below initial expectations, determined a revision of the forecast....more »
January 14, 2015 12:28
The law no. 11/2015 enforcing the emergency ordinance that provides the reduction of the tax on special construction by 33 percent will come into effect as from January 16, 2015 after being published in Romania’s Official Gazette three days earlier....more »
January 13, 2015 17:13
The Romanian Competition Council has sanctioned Metro, Real, Selgros, and Mega Image, as well as 21 of their suppliers with fines totaling approximately 35 million euro (154 million lei) in the investigation on the food retail market which revealed that the companies were involved in price fixing agreements between 2005 and 2009. The competition authority announces that the anticompetitive practices detected concern both agreements setting the reselling price and their actions with respect to sales promotions....more »
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