Economics
March 01, 2018 14:36
While non-performing loan portfolio disposals picked up in 2016 with just over EUR 7 billion face value of completed deals in the CEE region (based on publicly available deal information), the enhanced debt sales market activity continued in 2017, according to the sixth edition of Deloitte's report on non-performing bank loans (NPL)....more »
February 28, 2018 12:01
The Government hails the partnership relation between EBRD and Transgaz, valuable company in the gas industry in Romania. The signing of the loan agreement of BRUA pipeline is a confidence signal sent to investors with respect to business opportunities that Romania is offering, Vice Prime Minister Viorel Stefan stated on Friday, in London, on the signing ceremony of the loan agreement between Transgaz and EBRD, worth 278 million lei (EUR 60 million dedicated to building the Romanian section of the BRUA  natural gas pipeline)....more »
February 28, 2018 11:52
Nestor Nestor Diculescu Kingston Petersen (NNDKP), one of the largest independent law firms in the CEE region, based in Bucharest, Romania, and Cornerstone Communications, CEE-present Investors’ relations and transactions-wise enabler agency, enter into an alliance. ...more »
February 15, 2018 11:59
Purcari Wineries, a leading CEE wine producer, lists today on the Bucharest Stock Exchange, under the WINE symbol, following a successful IPO of 49% of its shares. The offering was well received, with retail investors oversubscribing mor...more »
February 14, 2018 12:34
Hategan Attorneys through the Tax Department won in the first instance at the Timis Court, an important lawsuit against ANAF, DGFP Timis, representing one of the largest developers of renewable energy projects in the West. Thus, the Timis Tribunal decided that several components of the photovoltaic park can not be considered as constructions, thus avoiding the increase of the building tax due. This court judgment could have a major impact on the renewable energy industry....more »
February 14, 2018 10:24
In 2017, the gross domestic product in Romania grew by 7.0% compared with 2016, the National Institute of Statistics announced. The Gross domestic product in the fourth quarter of 2017 was (compared to the same quarter of 2016) higher by 6.9% on the gross series and 7.0% for seasonally adjusted series....more »
February 13, 2018 17:17
The Road Infrastructure Administration Company (CNAIR) announces that there were were four offers submitted for the public procurement procedure of the contract "Design and execution of the bypass variant Bacau”, a 30.8 kilometer project, of which 16.269 km on highway profile that overlap the A7 (North-South) route. The estimated value of the contract is 773,650,651 RON without VAT and its duration is at least 96 months and includes: 6 months the design period, 30 months the execution period of the works and a minimum of 60 months the warranty period....more »
February 13, 2018 16:19
Romania attracted 2 billion euros from foreign markets through a two-tranche issue of eurobonds with the lowest credit risk margins for these maturities. The Ministry of Finance borrowed, on February 1, 2018, 2 billion euro on international financial markets by issuing Eurobonds in euro, in two tranches, of which 750 million euros with a maturity of 12 years with coupon 2.50% and € 1.25 billion with a 20-year maturity of 3.375%. The issue enjoyed a high interest from investors and was over-subscribed more than twice. ...more »
February 07, 2018 16:43
The annual inflation rate climbed to 3.32 percent in December 2017 from 3.23 percent in November, above the forecasted level declared Mugur Isarescu, the governor of the National Bank of Romania . The evolution was mainly driven by the acceleration of basic inflation and, to a lesser extent, the volatility of food prices and tobacco prices. ...more »
February 05, 2018 13:05
Oil company Chevron will pay the National Agency for Mineral Resources (ANRM) $ 73,450,000 following the termination of three concession oil concessions without complying with the financial obligations of the Oil Law. Following the decision of the International Court of Arbitration of the International Chamber of Commerce in Paris (ICC Paris), the most important international commercial arbitration institution, Chevron is obliged to pay ANRM the amount of USD 73,450,000, plus the legal interest rate set at the NBR + 8%, calculated from 23 October 2014 until the date of full payment, as well and the arbitration costs incurred by ANRM....more »
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