Economics
October 20, 2014 12:32
Standard & Poor’s has affirmed the long and short-terms foreign and local currency credit ratings on Romania at ‘BBB/A-3’, maintaining the outlook stable. The credit rating agency explains through a release that the ratings are supported by “Romania’s low and declining external debt stock, its narrowing general government deficits, and moderate stock of general government debt amid relatively firm growth prospects”....more »
October 20, 2014 10:53
Nuclearelectrica has selected China General Nuclear Power Corporation for the continuation of the Cernavoda nuclear power plant Units 3 and 4 projects, based on the biding offer submitted in late-September. The Chinese company was to sole investor engaging in the selection process. According to the procedure timetable, the joint letter of intention to complete the project was signed, too....more »
October 17, 2014 15:45
The first three quarters of the year have brought increasing revenues to the courier companies, FAN Courier, the leading player in the domestic market, reporting a turnover of 53.3 million euro at nine months. The figures are above expectations, say the company’s leaders, advancing by nearly 19 percent year-on-year on increased consumption, whereas they had foreseen a growth rate raging from 12 to 15 percent....more »
October 16, 2014 11:56
New Europe Property Investment (NEPI) today opens Shopping City Targu-Jiu, the second retail project inaugurated this year following Vulcan Value Center, located in Bucharest, which opened its doors on September 4. The shopping center which req...more »
October 15, 2014 16:41
The Board of Directors of Electrica today held its first meeting, appointing Victor Cionga as Chairman of the Board with a mandate valid until the end of January 2016. Cionga has an extensive experience in the private sector, namely in the capital markets field where engaged in listings, mergers and acquisitions. In 1998, he joined Raiffeisen Financial Advisors Romania as General Manager, later serving as Deputy General Manager of Raiffeisen Capital&Investment. He occupied, temporarily, the General Manager position within the Bucharest Stock Exchange....more »
October 15, 2014 16:00
The state aid scheme aimed at supporting the large energy consumers by cutting down green certificates, reducing the contributions to the financing of renewable energy, has been approved by the European Commission which has found that it complies with EU state aid rules, and in particular with the Commission's new Energy and Environmental Aid Guidelines. According to a press release of the Commission, the partial compensation for the cost of financing renewable energy support is necessary to ensure the competitiveness of energy-intensive industries without unduly distorting competition in the Single Market....more »
October 15, 2014 13:27
The General Council of Bucharest approved the merger of RADET with ELCEN during yesterday’s meeting after two failed attempts due to not raising the necessary votes. According to the mayor, Sorin Oprescu, the merger should be carried out in March 2015, reads Mediafax. Thus, the Government’s request for issuing an act to enforce the transfer of ELCEN’s assets from the State’s ownership under the local authorities' control as provided by the Memorandum enacted by the Romanian Government in March 2013 was validated....more »
October 14, 2014 14:32
The home improvement retailer Kingfisher has completed the redecoration of six more former Bricostore units, their inauguration under the Brico Depot brand being scheduled this week, on October 17. The transformation of the six ‘deposits’ located in Arad, Brasov, Chiajna (Militari District), Oradea Ploiesti and Pitesti began in August and has been carried out in record time, hence bringing the retail network on the local market to eight units....more »
October 13, 2014 16:31
With the enaction of the Law No. 121/2014 on energy efficiency, Romania needs to establish a new plan of action in this sector for implementing measures aimed at improving energy efficiency which becomes a strategic goal of the national energy policy. The challenges and opportunities generated by following the directions set by the 2012/27/EU Directive have been debated during the Energy Efficiency Forum 2014 organized by the Romanian Association for Promoting Energy Efficiency (ARPEE) and GOVNET Conferences, attended by more than 30 speakers and about 180 decision-making delegates....more »
October 13, 2014 16:26
The new board of Romania’s National Bank has been officially appointed, as the former members ended their mandates on October 10, 2014. Mugur Isarescu will lead the board whose major goals are to join the euro-area and to adhere to the European Banking Union. Isarescu, who has been the BNR’s governor for the past 24 years maintains his position for another five years. As are Florin Georgescu who was re-confirmed as first deputy governor and Bogdan Olteanu, deputy governor, following the Parliament vote this June....more »
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