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ECONOMICS

VIG profit doubled to around 407 million Euro last year

2017-03-24 12:14:32
Vienna Insurance Group (VIG) profit before taxes more than doubled to around 407 million Euro last year, according to preliminary figures for 2016.

ECONOMICS

Commissioner Cretu underscores need for monitoring implementation of major projects in Romania

2017-03-22 14:27:30
European Commissioner for Regional Policy Corina Cretu welcomed Romania's Minister of Research and Innovation Serban-Constantin Valeca in Brussels to discuss the latest developments in the imple...

ECONOMICS

Uber to launch carpool service in Romania by 2020

2017-03-22 12:07:00
Uber Romania said that the app reached 250,000 users in 2016, three times higher than the launch in February 2015, with Romania ranking second in Central and Eastern Europe after Poland in terms...

ECONOMICS

BMW Group explores Romanian IT industry opportunities

2017-03-22 09:45:50
BMW Group officials have come to Romania to start discussions about collaboration with IT&C companies to provide software solutions for BMW.

ECONOMICS

Illegal logging in Romania reduces in 2016

2017-03-21 14:12:56
Preliminary data in a 2016 report on Romania's forestry indicate that illegal logging was down in 2016, said the Romanian Ministry of Water and Forestry (MAP), according to Agerpres.

ECONOMICS

Alison Hayes concentrates in-house production in Buzau, services in Urziceni

2017-03-17 13:00:36
Alison Hayes is reorganizing its business processes in Romania, to improve the production and logistics functions in an operationally more efficient way to better meet demand from its customers....

ECONOMICS

Demand for sustainable development increased significantly throughout 2016, says BuildGreen

2017-03-09 12:35:25
BuildGreen, Romania's development, design and green building certification company, ended the year 2017 with a portfolio increase of over 100 per cent, surpassing the level of 2,7 million sqm of...

ECONOMICS

EU funds worth 90 million Euro to develop Romanian spa sector

2017-03-09 11:48:38
The spas of Romania must be promoted as major interest destinations for the citizens of all European countries, and the 90 million Euro allocation from the European Union for 2014 - 2020 could d...

ECONOMICS

Eurostat: Romania registers lowest pay gap between men and women in management positions

2017-03-06 14:13:29
In each European Union member state, male managers won in 2014 more than women in management positions, but the lowest pay gap was registered in Romania, show the data of the European Statistics...

ECONOMICS

ALD Automotive to launch fleet management app in Romania

2017-03-06 12:22:41
French-based ALD Automotive Romania, one of the largest operational leasing and fleet management companies on the local market, launches new mobile and web solution for fleet managers, a press r...

ECONOMICS

BRUA pipeline to operate in 2020 when Exxon, Petrom will extract Black Sea gas

2017-03-06 11:10:02
The works at the BRUA (Bulgaria - Romania - Hungary - Austria) pipeline will start at the end of 2017, and the gas pipeline will turn operational in 2020, when ExxonMobil and OMV Petrom will com...

ECONOMICS

PSA pays GM 2.2 billion Euro for Opel

2017-03-06 10:28:53
PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion Euro, creating a new regional car giant to challenge market leader Volkswagen, Reuters news rea...

ECONOMICS

Telekom Romania posted adjusted EBITDA of 175 million Euro for entire 2016

2017-03-02 12:55:06
Telekom Romania Communications and Telekom Romania Mobile Communications announced key performance indicators in fourth quarter 2016, ended December 31, 2016, as reported today by OTE Group. Tel...

ECONOMICS

Romania Green Building Council launches recommendations for the National Renovation Strategy

2017-03-01 16:06:24
Romania Green Building Council launches a set of recommendations for Romania's new National Renovation Strategy, that the Romanian Government should present to the European Commission by end of ...

ECONOMICS

Government willingness to move Hidroelectrica IPO forward as quickly as possible, says Greg Konieczny (FP)

2017-03-01 10:47:35
Romanian Government is willing to move the Hidroelectrica IPO process forward as quickly as possible, according to Greg Konieczny, portfolio manager of Fondul Proprietatea and executive vice pre...

ECONOMICS

Romanian transporters criticize taxi dispatch project to be implemented by Bucharest Municipality

2017-02-27 11:35:25
Romanian Confederation of Authorized Transporters and Operators (COTAR), an important organization in the road transport sector, announced today that totally disagrees the establishment of a cen...

ECONOMICS

Alevia to reach an estimated turnover of 5.8 million Euro in 2017

2017-02-24 12:34:28
Alevia, a Romanian company specialized in production of food supplements and teas, wants to achieve a turnover of 5.8 million Euro this year, a press release shows.

ECONOMICS

Romanian companies invited to attend privatization programme of Republic of Moldova

2017-02-22 13:17:27
Romanian companies are invited to attend the privatization programme prepared by the Economy Ministry of the Republic of Moldova for the second half of the current year, Moldovan Economy Ministe...

ECONOMICS

Banca Transilvania's net profit reached 1.2 billion RON last year

2017-02-15 12:24:04
Banca Transilvania's net profit amounts to 1.2 billion RON (274 million Euro) at the end of 2016, from 2.4 billion RON (537 million Euro) in 2015, one year after the merger with Volksbank Romani...

ECONOMICS

ECB never tries to manipulate euro rate, says French finance minister

2017-02-13 11:45:36
The European Central Bank never tries to manipulate the euro exchange rate for trade or competitive policy reasons, French Finance Minister Michel Sapin said in an interview published on Monday,...

ECONOMICS

Minimum wage in Romania doubles compared to 2008, says Eurostat

2017-02-10 15:42:41
Bulgaria and Romania had on 1 January 2017 the lowest minimum wages in the European Union (EU), namely 235 Euro and 275 Euro per month respectively, the data published by the European Statistics...

ECONOMICS

Central bank revises downwards 2017 year-end inflation forecast

2017-02-09 15:55:24
The National Bank of Romania (BNR) has revised downwards by 0.4 percentage points its inflation forecast for end-2017, which is now projected at 1.7 percent, BNR governor Mugur Isarescu told a p...

ECONOMICS

Parliament adopts 2017 budget draft

2017-02-07 15:37:29
Parliament on Tuesday adopted the draft laws on the state budget and the social insurance budget for 2017.

ECONOMICS

AmCham: Increased budget revenues collection and high investments are essential for generating growth

2017-02-07 15:21:51
In the context of the public debates around the State Budget project for 2017, AmCham Romania reiterates the importance of a balanced budgetary projection, focused on economic growth and investm...

ECONOMICS

Fiat Chrysler says diesel vehicles fully compliant

2017-02-07 12:53:00
Fiat Chrysler reiterated its diesel vehicles were fully compliant with applicable emissions requirements, a spokesman said on Tuesday after the French authorities referred the carmaker's case fo...

ECONOMICS

Innovation and digitisation are key to Europe's future competitiveness, industrialists say

2017-02-03 12:54:54
Industry remains the backbone of the European economy, contributing more than 30 per cent of GDP growth and more than 80 per cent of private R&D spending, a report published by the European Roun...

ECONOMICS

BNR: 6,400 debt discharge notifications at 2016 end

2017-01-31 14:16:13
The number of debt discharge notifications reached 6,400 at the end of 2016 and the volume of notified loans stands at 1.8 - 1.9 billion RON (400 million Euro), deputy director of the Financial ...

ECONOMICS

2017 budget draft based on 5.2 per cent economic growth

2017-01-23 15:56:59
The 2017 budget draft is based on a 5.2 per cent economic growth estimated for this year and above 5 percent over the entire 2018-2020-time frame, the (cash) budget deficit being forecast at 2.9...

ECONOMICS

Annual inflation rate -0.5 percent at 2016 end

2017-01-13 11:29:03
The annual rate of inflation was of -0.5 percent at the end of December 2016, lower than estimates by the National Bank of Romania (BNR) that put the figure at -0.4 percent, show data from the N...

ECONOMICS

Romania ranks second in region for lowest ratio of companies per 1000 inhabitants

2016-12-09 12:22:44
Romania ranks second in Central and Eastern Europe for the lowest ratio of number of companies per 1000 inhabitants, according to a study carried out by Coface Romania regarding the maturity lev...

ECONOMICS

Garanti Bank: GDP growth rate to decelerate next year

2016-12-07 12:04:10
Garanti Bank estimates that GDP growth rate could decelerate towards 3.7 per cent next year, as consumption dynamic is expected to revert to pre-stimulus (food VAT cut, as of June 2015, general ...

ECONOMICS

PM Ciolos: Romania should emphasise economic component of its strategic partnership with USA

2016-12-06 14:32:16
Prime Minister of Romania, Dacian Ciolos, said that besides the security component of the strategic partnership between Romania and the USA, its economic component should be developed, according...

ECONOMICS

Romania - second in EU by retail trade growth in October

2016-12-06 12:26:06
The volume of Romania's retail trade increased by 8.7 percent in October 2016 compared to the same month of the year before, making this the second month in a row when Romania's performance is s...

ECONOMICS

Arrivals in tourist accommodation establishments up by almost 11 percent after ten months

2016-12-05 13:16:02
January-October 2016 arrivals in Romania's tourist accommodation establishment were almost 11 percent higher year-on-year, topping 9.43 million, the National Institute of Statistics (INS) announ...

ECONOMICS

Merger of Carpatica Commercial Bank and Patria Bank receives preapproval from BNR

2016-11-30 13:21:01
The merger project of Carpatica Commercial Bank and Patria Bank has received the preapproval from the National Bank of Romania (BNR), allowing the two banks to start the final formalities to reg...

ECONOMICS

Unemployment in Romania flattens out at 5.8 percent in October

2016-11-30 12:42:27
Unemployment in Romania in October 2016 stayed at 5.8 percent, the same as one month before, according to data released on Tuesday by the National Statistics Institute (INS), Agerpres reads.

ECONOMICS

EBRD: Serbia and Romania are pushing up the growth average in southern-eastern Europe

2016-11-07 09:40:53
Growth across the EBRD region is expected to pick up in 2016 and 2017 despite continued major risks, according to the latest economic forecasts published by EBRD.

ECONOMICS

Erste Group net profit rises to 1.18 billion Euro in Q3

2016-11-04 15:39:26
With the CEE region maintaining growth momentum above the Eurozone average, all Erste subsidiaries performed well, contributing to a Group net profit of nearly 1.2 billion euros in the first nin...

ECONOMICS

Deloitte: Romanian banking sector is able to support a growing economy

2016-10-31 10:01:58
Despite some one-off measures, 2015 was probably the best year for the CE banking sector since the global financial crisis of 2009, according to Banking Outlook report from Deloitte Central Euro...

ECONOMICS

EY: The Romanian M&A market size has decreased with almost 50 per cent in H1 2016

2016-10-26 13:21:47
Romania occupies the fifth place among the CSE (Central and Eastern Europe) countries, with 56 transactions in H1 2016. Germany, France and Poland were the most active investors in Romania.

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Read in the Print Edition
Sneak peek into energy's future

In the light of the new National Strategy currently being debated, where Romania faces new challenges regarding the energy market, The Diplomat - Bucharest organized in late November the "Investments for ensuri...

Romania, Czech investors' reliable partner

Romania is not inch-perfect, but it still counts as a good destination on the foreign investor's map, as confirmed by the Czech community present at the second edition of the roundtable "Czech Investments in Ro...