Economics
Romgaz goes ‘on-trading’ on BVB and London Stock Exchange simultaneously
November 12, 2013 12:59
After a long-expected initial public offering, the biggest one in Romania’s history and successfully carried out last month, Romgaz’s Medias shares are available for trading from today on. The previously announced date – November 12, 2013, was confirmed yesterday through a press release by the Bucharest Stock Exchange (BVB).  ...more »
Trade deficit drops by 42% at nine months in 2013
November 11, 2013 13:23
Trade deficit continues its decline due to a consistent growth reported in the export field, completed by a decrease of imports. While the trade deficit registered within January 1 – August 31 this year was 40% lower than last year, at nine months it is down 42% over the same period in 2012 according to an INS’s (National Institute of Statistics) report released today. ...more »
APMGR and MS agree on a differential clawback tax
November 08, 2013 15:45
The Association of Generic Medicine Producers from Romania (APMGR) and the Romania’s Ministry of Health (MS) have agreed on several measures meant to encourage the consumption of generic medicines, thus ensuring people have access to affordable treatments but maintaining an efficient economy, is stated by a press release of the association....more »
Traded value increases by 30% on BVB in Q3
November 08, 2013 13:25
The Bucharest Stock Exchange released yesterday the financial report afferent to the third quarter of the year showing a noticeable improvement, both in the traded value and in the net profit. So, after sales revenue in the amount of RON4.7 million, up 18% over Q3 in 2012, BVB reported a net profit of RON1.2 million. The increase is mainly due to a growth in the traded value with 30% and to the successful completion of Nuclearelectrica’s IPO, worth EUR63 million....more »
IMF Mission ended: higher wages and new taxes to come in 2014
November 07, 2013 15:47
At the end of the 2-week visit in Romania, Andrea Schaechter, the head of the IMF (International Monetary Fund) Mission confirmed that the economic program supported through the recently approved stand-by agreement, mostly follows the good direction since all the performance criteria set for September 2013 has been met. She also emphasized that the authorities continued the fiscal adjustment and have not exceeded the deficit limit established for September, even though they have raised much lower revenue than expected....more »
Heinzmann isn’t the only one leaving TAROM. The Board of Directors, dismissed
November 07, 2013 13:09
In the current context where the privatizations sector checks failure over failure, neither does the private management strategy work better. At least that seems to be the case for TAROM, Romanian Air Transport Company that faces a delicate situation these days. Just as the Board of Directors at TAROM shortened Christian Heinzmann’s mandate, the CEO of the company, from four years to only one year, this summer, it was their turn to be dismissed by the General Meeting of Shareholders (GMS)....more »
WTCB’s gross profit rose with 54% in Q3
November 06, 2013 13:10
World Trade Center Bucharest (WTCB) reports a gross profit of nearly EUR470.000 for the third quarter in 2013 due to an increase of 54% over the same period last year when the revenue slightly exceeded EUR300.000....more »
Monsanto invests over 23 million euro in GM seeds station in Romania
November 05, 2013 16:11
Monsanto expands its production and processing corn capacity in Romania after completing a EUR23.7 million investment in the Sinesti seeding processing station, in Ialomita County. The Sinesti station is an important contributory factor to the l...more »
BNR drops the monetary policy rate to 4%
November 05, 2013 14:01
Romania’s central bank decided on cutting down another 0.25 percentages from the monetary policy rate, as anticipated. Thus, BNR agreed to reduce the monetary policy rate to 4% a year after similar decisions that were made within the past months. ...more »
Real estate investments, down 50% in 2013
November 05, 2013 12:44
Real estate investments went down more than 50% in Romania within the first nine months this year. Thus, after the third quarter in 2013, the total investments in the real estate sector amount EUR84 million, whereas after the same period last year, the figures indicated EUR172 million according to a CBRE report, Agerpres  informs....more »
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