Economics
November 14, 2018 10:19
The first nine financing agreements granted on the basis of the state aid scheme for stimulating major investments (807/2014) were signed today by the Minister of Public Finances, Mr. Eugen Teodorovici, on November 12th. The signing ceremony took place at Victoria Palace, in the presence of the Prime Minister, Ms. Viorica Dăncilă.
"I am very pleased to have signed today the first 9 investment projects that will bring added value to the Romanian economy. The benefits they will bring have to be seen from two perspectives - the development of the region where the investment will be made and the creation of almost 2,000 of new jobs, "said Minister of Public Finance, Mr. Eugen Teodorovici....more »
November 09, 2018 16:05
Black Sea Oil & Gas signed a contract with SNTGN Transgaz for the gas transport for the Midia Gas Development Project (“MGD Project”), a project aimed at putting into production the natural gas of XV Midia Block, offshore Black Sea, Romania.
...more »
November 07, 2018 11:49
Instant Factoring, the first Romanian online micro-factoring company for SMEs, received 1.5 million euros from an investment fund in the United States. The attracted funds, together with the company's equity, will support the expansion of activity on the Romanian market by developing microfinance operations for a volume of invoices totaling up to 20 million Euro in 2019....more »
November 07, 2018 08:55
Following last year's success, ROFMA - the Romanian Facility Management Association organizes this year a new edition of ROFMEX - Romanian Facility Management Experience Days. Being held at the Romexpo Exhibition Center under the slogan Smart Digitizing Places, this year's edition focuses on the evolution and challenges for workplace, property and facility management (IoT, Machine Learning, Big Data)....more »
November 06, 2018 15:09
The Baylor Marea Neagră Foundation, represented by NNDKP, may continue to donate the medicines necessary for treating severe conditions after having won a court dispute against the Romanian fiscal authorities.
The Romanian fiscal bodies ref...more »
November 02, 2018 13:28
Bank, Raiffeisen Bank, BRD Groupe Societe Generale and Banca Transilvania, for refinancing the existing facilities, extending the financing period, rearranging the related terms and conditions, and to raise the funding limit to a threshold of around 66 million euros.
The additional credit limit of 10 million will be in the form of a facility in term and will be used by MedLife, together with other company's own cash, for possible new market opportunities.
...more »
October 30, 2018 16:41
CITR, the leader of the Romanian insolvency market, presented a summary of the company's 10-year activity, with some data on the market's evolution since the onset of the crisis. Romania recorded 16,499 new insolvencies in 2008, while the estimate for the end of this year is about 8,300, or half of the number registered ten years ago. At the same time, between 2016-2018, the number of companies entering insolvency annually became constant, between 8,300-8,600. In the same period, the number of impact companies (with assets exceeding € 1 million) that went into insolvency stabilized between 175-200....more »
October 29, 2018 10:44
The Romanian High Court of Cassation and Justice (HCCJ) suspended by final ruling the Central Tax Commission decision that qualifies, from a fiscal standpoint, the wind turbine tower as a building, thus taxing it as a regular building.
Berechet R...more »
October 19, 2018 14:54
The National Bank of Romania adopted the Regulation amending the Regulation no. 17/2012 on lending conditions. According to the new provisions, the maximum level of indebtedness will be 40% of the net income on loans in lei a...more »
October 11, 2018 11:52
The Black Sea Trade and Development Bank (BSTDDB) and Garanti Bank Romania will provide USD 25 million loan to Alum, Tulcea - the sole alumina producer in Romania and one of the largest in Central and Eastern Europe, which is part of ALRO Group. BSTDB’s financing amounts to USD 20 million, while the remaining amount will be provided by Garanti Bank. The funding will be mainly used to continue the Company’s investments aimed at reducing its carbon footprint, which have begun a decade ago....more »
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