Economics
January 30, 2015 13:45
Banks' efforts to clean up their balance sheets burdened with non-performing loans (NPLs) generated a financial loss of 3.58 billion lei for the domestic banking system, explained BNR's Governor, Mugur Isarescu, during a press conference on the Swiss Franc crisis issues....more »
January 29, 2015 17:06
Slovakia's pipeline operator Eustream will sign a Memorandum of Understanding with its counterparts in Romania and Bulgaria on a gas pipeline project aimed at reducing Balkan reliance on Russia, according to Reuters....more »
January 29, 2015 16:00
Romania's economy will grew by 2.7 percent this year, according to Coface's estimations, the credit insurance company expecting a growth of maximum 2.5 percent of the GDP (Gross Domestic Product) for 2014, above the 2.2 percent forecast presented last fall....more »
January 28, 2015 17:03
Lending activity in Romania continues to be slow, as banks seems to remain prudent and very cautious when it comes to releasing new loans, given the latest data provided by the National Bank of Romania (BNR) which indicates that non-governmental loans decreased by 3.1 percent year-on-year in 2014 to 211.6 billion lei....more »
January 28, 2015 15:24
The European Commission released the report on Romania's progress throughout the past year in terms of judicial reform and fight against corruption, under the Co-operation and Verification Mechanism (CVM), revealing a positive evolution towards the goals of the CVM, although there is still need of consistent improvement....more »
January 28, 2015 12:22
Romania has improved its economic freedom score in Heritage Foundation's global ranking, advancing five positions over the previous year to the 57th place, achieving its highest score ever. Our country got 66.6 points, 1.1 points more than in the 2014 Index, above the world average, “reflecting improvements in freedom from corruption, labor freedom, and the management of government spending that outweigh a decline in business freedom”, states the report issued in cooperation with the World Street Journal....more »
January 27, 2015 13:24
Deloitte Romania has strengthened its team by co-opting Lars Wiechen as Partner in Financial Advisory Services, position from which he is primarily responsible for leading the Valuation & Modelling service line in Romania, according to a press release....more »
January 26, 2015 15:19
The Romanian market remained at 2013's level with mergers and acquisitions transactions worth about 1.2 billion euro last year, whereas globally, deal values boosted close to those recorded in 2007, the biggest M&A year on record, according to a PwC Romania analysis.
...more »
January 26, 2015 13:38
Hidroelectrica has posted a turnover of 3.4 billion lei in 2014, the highest ever, likewise the related profit, the electricity producer's obtaining a gross profit of 1.2 billion lei (net profit of 967 million lei). The state-owned enterprise increased its revenues by 10.5 percent compared to the previous year, while it boosted its profit by 33 percent year-on-year....more »
January 23, 2015 14:50
The IT services company Endava has opened its fourth development center in Romania, in Pitesti, where it will hire about 50 IT professionals by the end of 2015, while in the next three years the number of employees is expected to double. Nearly 40 percent of the new hires will be recruited through an internal programme designed for IT graduates, according to a press release....more »
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