Hidroelectrica starts the selection process of the intermediary of the Initial Public Offering for the 15 percent of the shares to be issued through an increase of its social capital. Today at noon, it was the deadline for submitting the offers which  eventually amounted to five, according to a press release of the state-owned company....more »

Romania’s Ministry of Public Finance reopened yesterday a 15-year bond issue launched in February 2012, raising 100 million lei from local banks, Agerpres informs. The maturity date is July 26, 2027 and the average yield, 5.41 percent....more »

Carrefour got the procedure of becoming insolvent suspended by the Bucharest Court of Appeal, after the Municipal Court approved last year, on December 23, the insolvency request of one of the retailer’s suppliers. Thus, the related procedure will be held off until Carrefour’s appeal will be definitively resolved....more »

World Bank has revised its initial estimation on Romania’s economic progress, setting a target of 2.5 percent growth in 2014, according to the Global Economic Prospects report published yesterday. In June 2013, the financial institution antici...more »

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 »

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 »

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 »

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 »

Piraeus Bank group has completed the sale of its subsidiary, ATE Bank Romania, to Dorinel Umbrarescu upon eventually getting all the required approvals, a press release of the Greek bank informs....more »

Foreign direct investments (FDI) in Romania amounted to nearly 1.82 billion euro after ten months this year, dropping by 8.2% over the same period in 2012, according to a report released by the Central Bank. However, there’s an improvement give...more »