Economics
December 03, 2014 12:15
Alpha Bank has acquired the insolvent residential compound developed by Indian group Asmita and British investment fund Convergence Development Limited on account of a debt of around 40 million euro. In 2006, the bank provided an 80 million euro loan for the real estate project which required initial investment of about 120 million euro....more »
December 02, 2014 16:47
Industrial production prices in Romania dropped by 0.4 percent in October 2014 compared to the previous month, prices decreases being recorded both for the domestic market (-0.1 percent) and for the non-domestic market (-0.9 percent)....more »
December 02, 2014 14:44
The first ten months of 2014 marked a growth in both tourist arrivals and overnight stays for Romania’s hospitality industry, according to the data released by the National Institute of Statistics (INSSE). ...more »
November 28, 2014 15:41
Romania will receive over 441 million euro in the period 2014-2020 to fight against poverty, as the European Commission has approved its operational programme to use the new Fund for European Aid to the Most Deprived (FEAD). The money will be used to provide food to those most in need, as well as school supplies to children in difficulty, reads a press release of the Commission....more »
November 28, 2014 12:01
The Romanian Financial Supervisory Authority (FSA) has not approved the Regulation regarding the listing on foreign EU markets through the depositary interests of shares listed in Romania, because it did not meet the majority of required votes, announces Fondul Proprietatea, also pointing out that no argumentation in the support of this decision has been presented....more »
November 27, 2014 16:33
The European Bank for Reconstruction and Development is releasing a 23 million euro loan for the confectionery factory Turkey’s ETI will establish in Craiova, Romania, announces a press release. The total cost of the investment, a greenfield one, will be 40 million euro, the candy manufacturer having also been granted a 6 million euro aid by the Romanian State....more »
November 27, 2014 14:28
The investment fund established and controlled by Greek businessman Ioannis Papelkas has announced the acquisition of the first office building in the Green Court office park, project developed by Skanska Romania, the transaction being valued at 44 million euro. Closing of the acquisition is scheduled for the second quarter of 2015, states a Globalworth release....more »
November 27, 2014 13:27
Schneider Electric has been recognized by the US information technology research and advisory company Gartner as a leader in the Magic Quadrant for Data Center Infrastructure Management (DCIM), thanks to StruxureWare for Data Centers software suite....more »
November 26, 2014 17:40
Banca Transilvania has announced that it is negotiating on potential acquisition of Volksbank Romania, confirming information published in the media about talks between the two banks....more »
November 26, 2014 15:55
The European Commission has initiated an infringement procedure against Romania for failing to comply with the EU rules on security of gas supply. Up to now, Romania has not implemented a preventive action plan and an emergency plan as the existing rules require, nor has it informed the Commission on the decisions concerning bi-directional gas flows, states a press release....more »
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