REPORTS
Romania struggles to save face ahead of Euro 2020 With less than two years until the start of the 2020 UEFA European Football Championship, Romania struggles to finish its stadiums by kick-off time. And with roughly 200,000 fans flooding the ca...
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REPORTS
New real estate bubble? It depends on who you ask Romania's GDP has been outperforming those of neighbouring CEE countries as of last year, but its Central Bank warns that the mortgage bonanza might lead to a second real estate bubble. With mar...
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EDITORIAL
Changing the game - Reinvention Reinvention is all about letting go of everything but your very best and finding even better ways of using it. The true essence of sustainability is reinvention.
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SECTOR ANALYSIS
Blockchain how it's made and what can we do with it In the context of the "fourth industrial revolution" that everyone is talking about these days, The Diplomat - Bucharest analyses how an emerging technology like blockchain can be used for impro...
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SECTOR ANALYSIS
Cryptocurrency exchanges. The new outsourcing El Dorado? Customer experience has become the new competitive battleground for crypto exchanges. Cryptocurrency exchanges seeking to maintain or gain an advantage in this highly competitive market need to...
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POLITICS
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.
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ECONOMICS
Europe must become a producer of new technologies, not just a consumer of technologies, says EC Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General "Communications Networ...
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ECONOMICS
Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace as a result of the emer...
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ECONOMICS
ArcelorMittal receives binding offer for European assets from Liberty British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.
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ECONOMICS
The Romanian labour market needs a well-thought approach, says FIC The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting with 2015-2016 their me...
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ECONOMICS
FDI in Romania rises 10 per cent after ten months in 2018 Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romania's National Bank (BNR...
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ECONOMICS
OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP Bank Romania becomes th...
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ECONOMICS
EBRD cuts economic growth forecast for Romania Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction and Development (EBRD)....
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ECONOMICS
Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministry of Communications an...
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ECONOMICS
Revolut gets European banking license Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has finally come out of the ...
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ECONOMICS
Fondul Proprietatea expresses disappointment over Engie listing rejection Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, according to a press release....
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ECONOMICS
Dacia receives 115.8 million RON in state aid from the Finance Ministry The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million.
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ENERGY
Romgaz posts a net profit of 1.02 billion RON in the first nine months of 2018 Romania's natural gas company Romgaz posted a net profit of 1.02 billion RON in the first nine months of 2018, a decrease of 14 per cent compared to the year-ago period. Total revenue stood at 3...
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ENERGY
Black Sea Oil & Gas signs the gas sales agreement with Engie for natural gas supply from the MGD project Black Sea Oil & Gas together with its co-venture partners, Petro Ventures Resources and Gas Plus International, announced the signing of the gas sales agreement with Engie through its subsidiary...
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ENERGY
CE Oltenia denies media allegations, says it has no state debts State-owned company CE Oltenia denies the allegations in the local media, according to which it has debts to the state budget worth over 100 million Euro, a press release shows.
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ENERGY
Economy-wide minimum wage must be done through a transparent, objective and predictable mechanism, says ACUE The members of the Federation of Associations of Energy Utility Companies (ACUE) expressed their concern over frequent changes to labor legislation, promoted by the Government over a short time ...
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ENERGY
MET Romania reaches third highest market share growth in 2018 MET Romania is one of the top five energy suppliers on the competitive market, with a nine per cent share this year, rising from 0.8 per cent in 2016, reaching the third highest market share gro...
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ENERGY
MOL Group posts 835 million USD profit for the first nine months of 2018 MOL Group announced its financial results for the third quarter of 2018. With a net profit of 323 million USD in Q3, the company reached a profit of 835 million USD for the first nine months of ...
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ENERGY
The rumored turnover tax on energy companies would have devastating consequences on the Romanian economy, says ACUE The Federation of Associations of Energy Utility Companies (ACUE) expresses its deep concerns following the latest political statements stigmatizing energy companies and the associated rumors ab...
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ENERGY
Tinmar Energy to reach 80 million RON profit in 2019, invest in household business Tinmar Energy estimates a profit of 80 million RON for 2019, after a 73 million RON result for this year, according to Augustin Oancea, CEO of the company. He claims the turnover for 2018 will b...
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ENERGY
Black Sea Oil & Gas and Transgaz sign 15-year contract for the MGD Project gas production transmission into the NTS  Transgaz and Black Sea Oil & Gas signed the gas transmission contract for the transport of the Midia Gas Development Project (MGD Project) production into the National Transmission System (NTS)....
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ENERGY
Valentin Radu receives new mandate as chair of Electrica's board of directors Electrica's board of directors decided to appoint Valentin Radu as chair of the board of directors for a mandate of one year, starting with 12 December 2018.
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ENERGY
Transgaz gets 150 million Euro from EIB for new gas pipeline The European Investment Bank (EIB) is lending 50 million Euro - the first tranche of an approved loan of 150 million Euro - to Transgaz, Romania's public gas transmission company, to finance a n...
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ENERGY
Deloitte advised Chimcomplex on raising 164 million Euro of debt finance for acquiring Oltchim A mixed team of experts from Deloitte UK, Deloitte Romania and Reff & Associates, member of the Deloitte Legal global network, advised Chimcomplex SA Borzesti on raising debt finance to fully fu...
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ENERGY
Corina Popescu is the new CEO of Electrica The Board of Directors of Electrica, one of the most valuable companies where the state is the main stakeholder, has agreed to end the collaboration with its CEO Dan Catalin Stancu starting Nove...
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INVESTMENTS
Radiocom gets EIB funds for the digitalisation of Romania's terrestrial broadcasting infrastructure The European Investment Bank (EIB) is lending 9.78 million Euro to Romanian public company Societatea Nationala de Radiocomunicatii SA (Radiocom) to partially finance the digitalisation of the c...
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INVESTMENTS
Intracom Telecom introduces new Intelligence Surveillance Reconnaissance Platform Intracom Telecom, a global telecommunication systems and integrated security solutions provider, announced the launching of SIS-C2, a command and control and integration management platform for ...
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INVESTMENTS
FAN Courier consolidates its leading position on the Romanian courier market, accelerates investment FAN Courier is consolidating its leadership position on the local courier market for the 12th consecutive year, amid doubling of investments and market growth.
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INVESTMENTS
OTP Bank Romania to double its IT team to support its digital development plans OTP Bank Romania will double its IT team in order to support its digital development plans for next year.
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INVESTMENTS
Bittnet finances two investment projects by a new issue of bonds trading on Bucharest Stock Exchange Bittnet, the first IT company listed on the AeRO market of Bucharest Stock Exchange, launched its third corporate bonds issue worth a total of 4.7 million RON, which began trading on the Alterna...
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INVESTMENTS
Digi Communications to continue its local market growth, expands abroad Digi Communications (RCS&RDS) has continued to grow in 2018 both locally and on foreign markets where it operates, according to CEO Serghei Bulgac. He said that the two billion Euro worth of inv...
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INVESTMENTS
GapMinder fund invests in FintechOS, a start-up that develops AI solutions for the financial services industry FintechOS, a company specializing in accelerating the digital transformation of financial institutions, has attracted 600,000 Euro of funding from the GapMinder investment fund.
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INVESTMENTS
Romanian city gets EBRD funds for green buses and buildings rehabilitation Around 300,000 inhabitants of Romania's city Craiova will benefit from a 15 million Euro long-term loan from the EBRD which will finance key urban projects in the city.
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GREEN
Romanian NGO EFdeN ranks 4th in Solar Decathlon 2018 competition Romanian NGO EFdeN ranked fourth at Solar Decathlon 2018 competition but has been named World Champion of Communication and Double Vice World Champion at the Engineering and Construction Test an...
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APPOINTMENTS
Christophe Dridi is the new general manager of Automobile Dacia and Groupe Renault Romania Groupe Renault announces the appointment of Christophe Dridi as General Manager of Automobile Dacia and Groupe Renault Romania as of January 1, 2019.
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APPOINTMENTS
Violeta Luca is the new general manager of Microsoft Romania Microsoft announces the appointment of Violeta Luca as general manager for operations in Romania starting in November this year. She joined Microsoft Romania for the first time in February 2015 ...
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REAL ESTATE
Christmas leads to material implications for retail and office market players, says Colliers December is a time for Romania to score positive results for sales at supermarkets, hypermarkets or discounters as well as for gifts, offering generous returns for retailers in shopping centers ...
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REAL ESTATE
Crosspoint Real Estate appointed exclusive sale agent for H Pipera Lake residential project in northern Bucharest Crosspoint Real Estate has been appointed exclusive agent for the sale of the units in H Pipera Lake residential project, developed by Hagag Development Europe.
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REAL ESTATE
P3 acquires 16 hectare site for new park in North West Bucharest P3 Logistic Parks has acquired a 16-hectare site in Dragomiresti Vale, a prime logistic location on the north west outskirts of Bucharest. A new 80,000 sqm logistics park - to be known as P3 Bu...
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REAL ESTATE
Building for the future, now The decision to buy a house is one we probably make once or twice in our lifetime. Therefor we want this decision to be the right one. A house should last the passing of time, fostering beautifu...
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REAL ESTATE
Almost 90 per cent of industrial and logistics stock is condensed in cities with highway access, says C&W Echinox Romania's industrial and logistics market is currently benefitting from its best period in history, both in terms of supply and demand, with development being condensed in a number of large citi...
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REAL ESTATE
Belgian WDP signs lease agreement with Auchan for 77,000 sqm of logistics space WDP has signed an agreement for the development and lease of 77,000 sqmof logistics warehouse space at its existing site at Bucharest for retailer Auchan. The investment budget amounts to around...
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REAL ESTATE
Speedwell starts Record Park, a 42 million Euro mixed use project in Cluj-Napoca Real estate developer Speedwell started the construction works of Record Park, the first mixed use development and urban regenerating project in Cluj-Napoca. The development process will attract...
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REAL ESTATE
Cordia Romania receives building permit for Parcului20 residential project Cordia Romania, Futureal Group`s residential development division, received the building permit for Parcului20 condominium, developed by the company in Expozitiei area, North Bucharest, on Parcu...
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REAL ESTATE
Immofinanz posts profit rise to 135 million Euro after nine months in 2018 Immofinanz has announced that its net profit turned positive with a significant increase to 135.0 million Euro after nine months in 2018. The results of operations more than doubled year-on-year...
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REAL ESTATE
Lagardere Travel Retail to open a 1 Minute store in Unirii View offices Lagardere Travel Retail Romania will open a new 1 Minute restaurant within Unirii View office project, in February 2019, according to a press release.
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REAL ESTATE
Taco Bell to open a restaurant in Openville Timisoara mixed-use project The world's largest fast food chain serving Mexican-inspired foods is coming to Timisoara. Taco Bell will open its first location in the west of Romania in the United Business Center 1 class off...
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REAL ESTATE
Skanska delivers the first building of the Campus 6 office project in Bucharest Skanska inaugurates Campus 6.1, the first completed building in Campus 6, a project that marks the expansion of Skanska Romania in the Center - West area of the capital.
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REAL ESTATE
AFI Europe Romania posts 40.6 million Euro net operating income, up eight per cent in the first nine months AFI Europe Romania published its financial results for the first nine months of this year (January - September). The data indicate a positive trend, with a eight per cent increase in net operati...
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REAL ESTATE
Polish brands continue entering the Romanian market The Polish sportswear retailer, 50 Style, opened in October its first store in Romania, in Bucharest's Iris Shopping Center, Titan area, on a surface of 315 sqm. Its entry on the local market co...
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REAL ESTATE
Hagag to buy new building near Romanian Athenaeum and to turn it into hotel Israeli real estate developer Hagag is negotiating with Romanian entrepreneur Victor Olaru the acquisition of a new building located on Bucharest's Georges Clemenceau Street, near the Romanian A...
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REAL ESTATE
Belgian real estate developer WDP to launch new 75 million Euro projects in Romania WDP kicked off its Investor Day in Romania by announcing an additional investment volume of around 75 million Euro, amounting to some 130,000 sqm in property, both through new development projec...
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REAL ESTATE
CTP increases its international portfolio to five million sqm lettable milestone CTP announces the reaching of the five million sqm lettable milestone this month. The company has developed a portfolio of business parks over the past 20 years located throughout central Europe...
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REAL ESTATE
certSIGN leases 2,300 sqm in AFI Tech Park 1 office building The Romanian IT company certSIGN has leased 2,300 sqm in AFI Tech Park 1 office building, which now reached a 60 per cent occupancy rate.
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