The International Finance Corporation, part of the World Bank Group, is lending 35 million euro to Garanti Bank, amount which will be allocated to finance small and medium-sized enterprises in Romania. Of the total amount, the bank announced that 20 million euro is destined to support enterprises in this categories run by female entrepreneurs....more »

Electrica launched the IPO for 51 percent of its share capital, the largest initial public offering ever on the Bucharest Stock Exchange which is being run between June 16 and June 25, 2014....more »

The expected decrease by 5 percent of the social insurance contribution (CAS) will be eventually effective starting October 1, five months later than the initial target, Victor Ponta yesterday announced, also mentioning that the IMF and the EU Commission have not agreed with this fiscal measure....more »

The International Monetary Fund Mission is leaving Bucharest without any evaluation report, said Victor Ponta in a Bloomberg interview. Also, a new visit of a Fund’s mission in the next period, namely in July-August, it is uncertain, according to Mediafax which cites sources close to talks....more »

Both exports and imports have seen increasing activity in first four months of the year compared to the similar period in 2013, shows the latest report released by the National Institute of Statistics (INSSE). Also, the trade deficit became high...more »

Electroputere, the Craiova-based electrical equipment manufacturer, is running an equity offering so as to raise share capital and partially offset the debt resulted from the loan transactions the major shareholder concluded with the company, is stated by a notification sent to the Bucharest Stock Exchange where it is listed. The capital increase was approved last year in early November during the Extraordinary General Meeting of Shareholders, the Financial Supervisory Authority approving the Offering Prospectus at the end of the past month....more »

The extended deadline for submitting a biding offer for taking over the stake Oltchim S.A owns in Oltchim SPV S.R.L which expired on June 6 has not brought any investor, although there were some who purchased the Presentation file, states a press release of the Ministry of Economy which controls the company....more »

The European Bank for Reconstruction and Development (EBRD) arranged a 57 million euro loan with LUKERG Renew, a joint venture between ERG Renew (part of Italian group ERG) and LUKOIL- Ecoenergo (Russia), for a 84 MW wind farm located in southeastern Romania - Dobrogea region, states a press release. The financing is structured under the bank’s A/B loan scheme, with 38 million euro on the EBRD’s account, while the remaining amount is for the account of UniCredit....more »

INSSE (the National Institute of Statistics) today confirmed the 3.8 percent increase of the Gross Domestic Product in the first quarter of 2014, compared to the same period last year, already announced by the “flash” estimates released in mid-May. Also, the GDP in Q1 was, in real terms, 0.1 percent higher than in the last quarter of the past year....more »

Electrica announced today its intention to launch an Initial Public Offering of new ordinary shares in the share capital and global depositary receipts (GDRs) to be listed on the Bucharest Stock Exchange (the shares) and on the London ...more »