The Romania’s Transmission System Operator for Gas, Transgaz posts a net profit of around 337 million lei for 2013, 2 percent higher compared with 2012 and 24 percent more than the target established by the company’s 2013 budget....more »

Oltchim ends its first year of insolvency with smaller loss, but, at the same time, a smaller turnover. According to the 2013 financial report released today, the chemical plant has managed to reduce its loss within the past year, the preliminary results showing a deficit of approximately 285 million lei, compared with some 572 million lei in 2012....more »

Banca Transilvania (BT) has posted a gross profit of around 443 million lei (net profit is some 375 million lei) for 2013, 30 percent higher in comparison with results recorded in the previous year. The advance is also reflected in the operating revenue which has improved by 12 percent within the past year, amounting to nearly 1.66 billion lei....more »

The foreign direct investments (FDI) have reached in 2013 the highest level of the past four years, confirming the positive evolution mostly seen in the second half of the year when exports actually boomed. According to a report released by Romania’s Central Bank (BNR), the investments of non-resident in our country came to 2.71 billion euro – almost 27 percent more than in 2012....more »

OMNIASIG Vienna Insurance Group added 53.1 million lei to its social capital which now amounts to nearly 440 million lei. The increase has been approved during the General Meeting of Shareholders held last October 8 and has been performed by issuing some 15.2 million new nominative and dematerialized shares, having a nominal value of 3.5 lei each....more »

BRD still continues the decline in terms of overall financial results, reporting loss for the second year in a row. While the bank ended 2012 with some 332 million lei loss, last year figures indicate even higher loss of 385 million lei....more »

The Bucharest Stock Exchange (BVB) recorded last year an advance of 40 percent in its turnover, compared with 2012, which came to about 5.4 million euro (24.3 million lei). Additionally, the net profit rose to approximately 2.23 million euro (10 million lei), a growth of 10.9 percent over the previous year. ...more »

Moody’s Investors Services has an improved outlook on Romania’s national power grid company rating, changing it to Ba2 stable from Ba2 negative. According to Transelectrica, the criteria on the basis of which the bond credit rating company made the review concerned the diversification of funding sources, the better liquidity ratio, as well as the financial progress recorded last year....more »

Romania’s Central Bank Board lowered again the monetary policy rate to 3.5 percent, after a similar decision taken during the first meeting of the year when it was reduced to 3.75 percent. According to a BNR notification, the new rate will be ...more »

The International Monetary Fund expects a 2.2 percent economic growth for Romania in 2014, below the level reached last year, 2.8 percent, the highest since the beginning of economic crisis. The estimation has been communicated by Andrea Schaechter, Head of the IMF Mission whose visit in Bucharest ends these days...more »