Economics
Parallel exports of new compensated medicines could be interrupted for six months
January 13, 2014 11:38
Romania’s Ministry of Health plans to prohibit for six months the parallel exports of drugs on the new list of compensated medicines in order for patients to benefit from their treatments in due time, a ministry’s press release informs. The announcement was made during a meeting between the Minister of Health, Eugen Nicolaescu, the Secretary of State, Adrian Pana, the President of CNAS (the National House of Health Insurance), Cristian Busoi, and the Director of ANMDM (the National Agency of Medicines and Medical Devices) on one side and representatives of the pharmaceutical industry, on the other side, meeting which was held on Saturday, January 11. ...more »
CFR’s Board of Directors, dismissed for mismanagement
January 13, 2014 10:51
The General Meeting of Shareholders of CFR, Romania’s National Railway Company, controlled by the Ministry of Transport, decided last Friday to dismiss all the members of the Board of Directors due to their mismanagement which affected the company’s financial situation...more »
Unisun Energy opens three PV plants in Romania
January 10, 2014 14:34
Chinese-based company Unisun Energy completed three solar power units in Brasov and Cluj counties, in Transilvania region. The plants which have a total installed capacity of 19.59 MW are estimated to generate yearly up to 8 million euro profit resulting from green certificates trading and energy sales, according to the company. Unisun also announced that all three PV plants have already been connected to the power grid. ...more »
Unexpected 38 percent sales growth for Mazda last year
January 10, 2014 10:52
Mazda reported a significant improvement in its car sales in Romania which increased by 38 percent in 2013 over the previous year, is announced through a press release. The Italian automobile manufacturer sold 602 units within last year, being one of the best performing players on the domestic market in terms of import cars sales....more »
EIF signs four new agreements worth 120 mln euro for low-interest SMEs loans
January 09, 2014 15:17
The European Investment Fund (EIF) has signed four new JEREMIE agreements in Romania with Banca Transilvania, BRD – Groupe Societe Generale, ProCredit Bank and Raiffeisen Bank. Based on this arrangements, other 120 million euro will be available to SMEs under the new Portfolio Risk Sharing Loan instrument, thus SMEs benefitting from much lower interest rates as well as reduced collateral requirements for new loans destined to investments or working capital....more »
Higher exports after 11 months in 2013. Trade deficit keeps narrowing
January 09, 2014 13:07
The positive evolution the export field recorded in 2013 reflects into a continuous decline in trade deficit which kept narrowing in November 2013, too, as per the latest report released by the National Institute of Statistics (INSSE). According to preliminary estimations of INSSE, the trade deficit dropped to about 389 million euro in November 2013, 9 percent lower compare with the same month in 2012. Also, there’s a 36 percent decrease in trade deficit considering the overall period analyzed – January 1, 2013 – November 30, 2013....more »
Monetary policy drops to historically low rate. BNR also lowers the cash reserve ratio
January 08, 2014 15:32
Romania’s Central Bank Board decided to cut down again the monetary policy rate during the first meeting of the year. Thus, starting January 9, 2014 the monetary rate will reach a new historic low – 3.75 percent per year....more »
Honeywell arranges the sale of its Friction Materials Business to Federal-Mogul
January 07, 2014 16:44
US technologies manufacturer Honeywell has reached a definitive agreement with Federal-Mogul Corporation in order to sell its Friction Material Division. The transaction worth about $155 million should be completed in the second half of this year, according to a press release sent to Govnet....more »
Lukoil Energy&Gas Romania enters the domestic PV market
January 06, 2014 11:26
The Romanian subsidiary of the Russian oil group Lukoil received from ANRE, the National Regulatory Authority for Energy, the construction permit for a solar park at the Petrotel-Lukoil oil refinery in Ploiesti....more »
Carrefour to become insolvent for a debt of 170.000 euro
January 02, 2014 13:04
Bucharest Municipal Court published on its website the decision of insolvency of Carrefour Romania based on a request of some of the retailer’s suppliers – GSL Loistic, a Bucharest-based distributor of diapers and accessories for children and adults....more »
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