Exports level hits record-high in July 2014 amounting to 4.8 billion euro (21 billion lei) after a 12.7 percent increase over the previous month - 6.6 percent increase year-on-year, respectively (5.6 percent advance in lei-denominated currency), according the preliminary estimations of the National Institute of Statistics (INSSE). ...more »

Fitch Ratings has affirmed Romania’s  long-term IDR (Issuer Default Rating) at ‘BBB-‘ and local currency IDR at ‘BBB’, the outlooks remaining stable, according to press release of the credit rating agency. At the same time, the issue ratings on senior secured foreign and local currency bonds have been affirmed at ‘BBB-‘ and ‘BBB’, respectively....more »

Prime Minister Victor Ponta announced that the tax on special constructions will be reduced from 1.5 percent to 1 percent of the estimated value of constructions, reads Mediafax. Also, revenues generated by the fiscal measure introduced this year will no longer go to the state budget but will remain at disposal of local authorities....more »

Raiffeisen Leasing has provided new loans of about 48 million euro in the first half of the year, reporting a progress by 36 percent compared to the same period of 2013. The company maintained the uptrend in terms of new leasing contracts, reco...more »

The number of companies which became insolvent in the first seven months of 2014 dropped by nearly 13.4 percent to 15,124 from 17,458 in the corresponding period last year, according to Medifax which cites data from the National Office of Trade Register....more »

Raiffeisen Bank Romania announces declining net profit of 45 million euro for the first six months of 2014, in the similar period of the past year the bank registering 60 million euro profit after tax....more »

Praktiker has improved the financial results in the first half of this year, reporting operating profit of nearly 12 million lei triggered by the restructuring process launched after the Do-It-Yourself company was took over by Turkish businessman Omer Susli....more »

Bank of Cyprus announces the transfer of the interest held in the Society of Grand Hotel Companies which owns JW Marriott hotel in Bucharest to Austrian group Strabag in a transaction estimated at 95 million euro. The sale is expected to be carried out by the end of September, 2014, yet, in case of a delay, its completion shall be no later than late-October, 2014...more »

Following last year’s performance when Romania’s gross domestic product grew beyond expectations, the provisory data published by Eurostat and further confirmed by the National Institute of Statistics moderates the optimism about the domestic economy which recorded two consecutive drops of the GDP. Romania entered, therefore, in technical recession, as the GDP declined by 0.2 percent in Q1 2014 over the previous quarter and by 1 percent in Q2 2014 compared to Q1, respectively....more »

Romania has seen a decline in foreign direct investment inflows in the first six months of 2014 which fell by 10.3 percent year-on-year. According to the latest report of Romania’s Central Bank, the volume of direct investment of non-residents in Romania totaled nearly 1.2 billion euro, a marginal advance compared to the previous analyzed period between January 1 and May 31, 2014, when FDI came to almost 1.1 billion euro....more »