BUSINESS LEADERS
New times-New offices Interview with Antoniu Panait, Managing Director of Vastint Romania.
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SECTOR ANALYSIS
Global efforts to develop low-carbon, energy-efficient solutions Interview with Robert Tudorache, Secretary of State, Ministry of Energy
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SECTOR ANALYSIS
EnergyPal: The market must invest in innovation and develop worker qualifications Romania's facility management sector in 2017 has seen changes in terms of increased market dynamic due to new office developments and also logistic sector growth, according to Lucian Anghel, Fou...
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SECTOR ANALYSIS
Romanian office market ripening, in both leasing and acquisition From the investment standpoint, lower rates of return and increased liquidity lure the investors, Andreea Paun, Managing Partner, Griffes said in an interview for The Diplomat-Bucharest.
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SECTOR ANALYSIS
High potential for sustainable growth on Romanian FM market Facility Management is still a developing market in Romania, with a lot of challenges to overcome. The Romanian Facility Management Association (ROFMA) analyses the relevant aspects that describ...
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SECTOR ANALYSIS
ANCOM: We look at the postal services market in the light of e-commerce developments Romania's courier business is pretty dynamic these days and tends to become more and more high-tech as players are trying to find innovative solutions to keep up with users' need for mobility. C...
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SECTOR ANALYSIS
ISS: External FM market volume will grow as more Western European FM companies open subsidiaries in Romania In the last few years as well as in 2017, the Romanian FM market has been in the process of maturing, focusing more and more on quality, efficiency and added value, demanding a skilled and quali...
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SECTOR ANALYSIS
Fresh Delivery (P) Up to speed with the courier sector in an interview with Gian Sharp, CEO at Urgent Cargus
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SECTOR ANALYSIS
Digital Finance - driving force for the banking industry Digitalization is radically transforming the banking industry, enabling new products, services and business models. This transformation will take time to complete, forcing banks to act now and e...
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SECTOR ANALYSIS
Rising potential for green developments With GDP growth outperforming neighbouring CEE countries by a significant extent, 2017 was very good for the real estate market in Romania, especially for the office, investment and land segment...
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BUSINESS LEADERS
New times-New officesInterview with Antoniu Panait, Managing Director of Vastint Romania. |
POLITICS
Romania and US held 6th meeting of the Strategic Partnership Dialogue The Governments of Romania and the United States of America held the sixth plenary meeting of the Strategic Partnership Dialogue in Bucharest, Romania, on June 19, 2018.
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POLITICS
Romanian finance minister sees no crisis around the corner Romania is not in the situation of being affected by an economic crisis, according to finance minister Eugen Teodorovici.
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POLITICS
Romanians want more EU efforts for stability in economy and combat of corruption Romanians want the European Union to put more efforts for the stability of the economy, the reduction of corruption, public policy and education, according to a survey by the European Committee ...
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POLITICS
Questionable fiscal policies of government led to hike in inflation and interest rates, says president Iohannis President Klaus Iohannis says he will attempt to mediate the conflict between government representatives and officials of the National Bank of Romania (BNR).
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POLITICS
Political risks in CEE on the rise but no impact yet on local businesses, says Coface A recently released report by Coface assessing the political risks in the Central and Eastern European countries (CEE) shows that, while social risks are low, due to the favourable macroeconomic...
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ECONOMICS
TransferGo: We will come to a point where money transfers will be dominated by app usage Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.
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ECONOMICS
ING Bank Romania to accelerate business development through digitization Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.
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ECONOMICS
Banca Transilvania to sell 350 million Euro worth of bonds Romanian lender Banca Transilvania wants to sell subordinated bonds worth 350 million Euro, with a 10-year maturity and a fixed or variable interest rate.
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ECONOMICS
Employees in Bucharest, Cluj, Timis and Ilfov best paid in 2018 Employees in Bucharest and the counties of Cluj, Timis and Ilfov are the best paid this year in terms of net average monthly earnings. At the opposite end are employees in the counties of Bistri...
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ECONOMICS
Banca Transilvania acquires Bancpost, ERB Retail Services IFN and ERB Leasing IFN Banca Transilvania has become the owner of the majority of shares (99.15 per cent) held by Eurobank Group in Bancpost, as well as the owner of shares held in ERB Retail Services IFN and ERB Leas...
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ECONOMICS
Telekom Romania launches first loans in partnership with Alior Bank Telekom Romania, one of the biggest local telecom groups, has launched its first two loans in partnership with Polish lender Alior Bank.
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ECONOMICS
Vodafone to boost converged services by acquiring UPC Romania Vodafone Group Plc has agreed to acquire Liberty Global's operations in Romania, Germany, Czech Republic and Hungary, for a total enterprise value of 18.4 billion Euro as part of a major investm...
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ECONOMICS
Austrian group buys industrial laundry business in Romania for five million Euro Austrian group Salesianer Miettex, which provides industrial laundry services, has taken over a division of local group Promar Textil from Brasov and its brand, Kromatic, according to Romania In...
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ECONOMICS
Unicredit estimates economic slowdown in Romania The economic growth rate in Romania will slow down to 4.4 per cent in 2018, from close to 7 per cent last year, and the government risks to register budget deficits exceeding 3 per cent of GDP i...
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ECONOMICS
Goodyear reports net income of 75 million USD in Q1 The Goodyear Tire & Rubber Company today reported results for the first quarter of 2018.
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ECONOMICS
Deloitte Romania survey: 60 per cent of the CFOs find the fiscal and regulatory framework as unstable On the background of a falling unemployment and highest GDP growth in Central and Eastern Europe, Romanian CFOs enjoy an overall positive business climate, yet they focus more on consolidation r...
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ECONOMICS
Romanians spend most of their money on food and dwelling, study says Food and dwelling have the highest shares in the Romanians' monthly expenses although there are some differences between generations, according to a research by Golin and iSense Solutions.
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ECONOMICS
Romania may be the biggest EU fund loser in 2021-2027, says Erste Romania will be the Central and Easter European (CEE) country most severely hit by the EU funds cut in the 2021-2027 financial exercise, according to estimates by Austrian group Erste.
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ECONOMICS
Romania wants to join the Asian Infrastructure Investment Bank Romania wants to join the Asian Infrastructure Investment Bank (AIIB) and will pay a 6.12 million USD installment this year for the membership.
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ECONOMICS
Dacia generates 18.5 per cent of Groupe Renault's global sales In the first quarter of this year, the Dacia brand, owned by French group Renault, sold 171,577 vehicles, a 13.8 per cent increase compared to the same period of 2017. Dacia's market share in th...
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ECONOMICS
TeraPlast Group reported 97 per cent increase in turnover in Q1 2018 TeraPlast Group, one of the main players in the construction market, posted a 131 million RON turnover in the first quarter of 2018 (1st quarter 2017: 67 million RON). The main contributors to t...
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ECONOMICS
Deloitte Romania and Reff & Associates advised MAS in acquiring Militari Shopping Center Deloitte Romania and Reff & Associates, member of Deloitte Legal in Romania, have advised MAS Real Estate in the acquisition of Militari Shopping Center from Atrium European Real Estate in a tra...
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ECONOMICS
The state of the economy is a reflection of public policy, says FIC The Foreign Investors Council (FIC) considers that recent negative economic data which drew the attention of politicians are the result of legislation that was adopted without proper impact asse...
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ECONOMICS
98,000 tourists spent around 6.4 million Euro in May 1 mini-holiday, says Romanian Tourism Federation According to the Federation of Romanian Tourism Business Owners (FPTR), around 98,000 tourists travelled to various resorts in the country during the May 1 mini-holiday, where they spent around ...
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ECONOMICS
Romania's new cars sales hit 10-year record Sales of new cars in Romania rose by 27.8 per cent in the first four months of this year, to 51,853 units, a 10-year high, according to the Automotive Manufacturers and Importers Association (AP...
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ECONOMICS
American auto parts producer closes factory in Northern Romania US auto parts producer TRW Automotive will close its wheel factory in Baia Mare, Nothern Romania.
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ECONOMICS
New registrations of passenger cars down by 0.7 per cent in Q1 2018 New registrations of road vehicles for passenger transport decreased by 0.7 per cent in the first quarter of 2018 compared to the first quarter of 2017.
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ECONOMICS
Vienna Insurance Group posts growing profit in Q1 2018 Vienna Insurance Group (VIG) reports further improvement in all key figures for the 1st quarter of 2018 compared to the same period in the previous year.
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ECONOMICS
Contactless payments will be the norm by 2020, says Mastercard Romania In 2017, Romanians made 100 million contactless payments in Romania, via Mastercard and Maestro cards, representing 60-70 per cent of the total payments.
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ECONOMICS
Nissan to stop sale of diesel cars in Europe Japanese carmaker Nissan has announced that it will gradually withdraw from the diesel vehicle market in Europe, in the context of weaker demand for diesel as customers worry about tax rises and...
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ECONOMICS
Banca Transilvania posts 366 million RON profit in Q1 Banca Transilvania registered a net profit of 366 million RON (78.7 million Euro) in the first quarter of this year, up 48.7 percent from the same period of 2017, due to rising operating fees an...
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ECONOMICS
Romania's average net wage hit all-time high in March Romania's average net monthly earnings growth rate accelerated to 15.5 per cent year-on-year in March, from 11.2 per cent in February, due mainly to granting of Easter bonuses, National Institut...
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ECONOMICS
New car sales increase by over 20 per cent in Romania in the first quarter New vehicle sales in Romania increased by 20.3 per cent in the first quarter of this year compared to the same period of 2017, reaching almost 36,000 units, according to data released by the Car...
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ECONOMICS
Banca Transilvania launches online loans Banca Transilvania, the second-biggest lender in Romania, has launched an online loan that allows clients to borrow up to 5,000 Euro.
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ECONOMICS
CFA Romania analysts say EUR/RON average exchange rate to reach 4,71 RON in next six months  Eight out of ten Chartered Financial Analyst Romania (CFA) Romania analysts say that the EUR/RON average exchange rate will reach 4,71 RON in the next six months and 4,75 RON in April 2019.
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ECONOMICS
Renault and Dacia set a new sales record for the first quarter In the first quarter of 2018, Group Renault increased by 5.4 per cent to 13.2 billion Euro, at constant exchange rates and perimeter.
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ECONOMICS
Romania surpasses Greece as 16th economy in the EU Romania went up one place to become the 16th largest economy in the European Union (EU) in 2017. With the highest economic growth rate in the EU, of 7 per cent, Romania surpassed Greece last yea...
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ECONOMICS
Fewer Romanians work from home than anywhere else in the EU, says Eurostat Romania has the lowest percentage of work from home employees in 2017, according to a recent Eurostat study released for Labour Day.
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ECONOMICS
Pillar 2 is a fundamental tool for pension savings, says Foreign Investors Council The Foreign Investors Council (FIC), which brings together companies hiring approximately 200.000 people, is worried by possible policy measures affecting the three-pillar pension savings system...
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ECONOMICS
Autonom buys BT Operational Leasing from Banca Transilvania The Banca Transilvania Financial Group and Autonom have closed a deal for the sale of 100 percent of shares in BT Operational Leasing. Through this deal, BT exits a field that was a secondary ni...
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ECONOMICS
World Bank sees Bucharest on par with Western Europe capitals Capitals in Eastern Europe, such as Bucharest, Sofia, Budapest and Warsaw compete with almost any major city in Western Europe in terms of economic development, according to a World Bank report....
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ECONOMICS
Facebook posts record revenues for Q1, despite data privacy scandal Facebook Inc. shares rose on Wednesday after the company posted a surprising 63 per cent rise in profit as well as an increase in users, despite the fact that it has been going through a difficu...
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ECONOMICS
IMF criticizes Romania's low level of public investments A document published by the International Monetary Fund (IMF) after consultations with Romania says that a more cautious fiscal discipline would help rebalance Romania’s economy and lessen the...
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ECONOMICS
Romania's inflation rate hits 5-year record high of 5.2 per cent in April Romania's annual inflation rate rose to 5.2 per cent in April, a new record level since June 2013, energy prices increases having a large contribution to the evolution of consumer prices, Nation...
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ECONOMICS
Vodafone Romania posts 723 million Euro services revenues in 2017, up 2.5 per cent compared to last year Vodafone Romania announces the key performance indicators for the fiscal year ended March 31st, 2018, as reported by Vodafone Group Plc.
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ECONOMICS
Romanian insurance sector doubles profit in 2017 The insurance sector in Romania doubled its net profit last year to 508 million RON (110 million Euro) from 251 million RON in 2016, according to profit.ro.
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ECONOMICS
Romania to face extreme workforce crisis, KeysFin analysis finds According to a KeysFin analysis, Romanian companies are having difficulty finding employees who are skilled and have communication and teamwork abilities. After competing for good employees with...
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ECONOMICS
OTP Bank Romania's profit increased 18 per cent in Q1 2018 OTP Group announces the financial results for the first quarter of 2018. According to the report published in Budapest, which presents the consolidated result adjusted in accordance with the Gro...
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ENERGY
Romania fourth in Europe for natural gas production and reserves, report shows Romania is on the fourth place in Europe for last year's natural gas production and proven gas reserves, according to a report by BP.
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ENERGY
Gas prices in Romania to reach new peak next winter due to soaring oil price, says E.ON The prices for natural gas will reach new high during the next winter, due to the surge in oil prices, E.ON Romania's CEO Frank Hajdinjak said. cited by Agerpres.
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ENERGY
The electricity and gas distribution networks need over 10 billion Euro investments in the long term, says ACUE The electricity and gas distribution networks need investments over EUR 10 billion in the long term in order to replace the old infrastructure, according to the members of the Federation of Asso...
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ENERGY
Electricity consumers to provide guarantees for paying bills, ANRE project shows Electricity consumers will have to provide financial guarantees for distributors to cover the risk of unpaid bills, Roxana Gheorghe, director with National Energy Regulatory Authority (ANRE), sa...
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ENERGY
Energy producers sue Romania at ICSID Washington for reducing subvention scheme in renewable energy Energy producers from Austria, Germany, the Netherlands, Romania and Cyprus filled a request for arbitration proceedings against the Romanian government at World Bank's International Centre for ...
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ENERGY
E-Distributie Muntenia invested 6 million RON for the modernisation of the electricity networks in Cotroceni area E-Distributie Muntenia invested approx. 6 million RON for the modernization of the medium and low voltage networks in Cotroceni area, with the purpose to improve the quality of the electricity d...
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ENERGY
Hidroelectrica to provide electricity for RATB and Metrorex Hidroelectrica has won two contracts for providing electricity services to RATB and Metrorex. Both contracts to be carried out for one year starting July 1 implies the delivery of a total of 297...
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ENERGY
Transelectrica opens 400 kV cross-border electricity interconnection between Romania and Serbia Transelectrica, Romania's state-owned monopoly of electricity transmission, announced that it opened a double-circuit 400 kV electricity transmission line between Resita in Romania and Pancevo i...
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ENERGY
Consumers will lead the energy market in the future Interview with Georgios Stassis, Country Manager Enel Romania
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ENERGY
Romania's households pay the lowest gas prices and the 5th lowest electricity prices in EU The households in Romania paid in 2017 the lowest prices for gas and the fifth lowest prices for electricity among the 28 European Union member states, according to Eurostat.
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ENERGY
Rompetrol Rafinare plans investments worth around 56 million USD in 2018 Rompetrol Rafinare, the refining company controlled by KazMunayGas, will propose to shareholders an investment plan worth 56.9 million USD for 2018.
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ENERGY
Nuclearelectrica net profit up 51.7 per cent to 41 million Euro in Q1 Nuclearelectrica, the state-owned operator of the nuclear reactors at Cernavoda, recorded a net profit of 41 million Euro in the first quarter of the year, up 51.7 per cent versus the same perio...
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ENERGY
Blockchain to fundamentally change the energy market Blockchain will fundamentally change world markets, including the energy market, Daniel Pintilie, member of the Board of AFEER (Association of Electricity Suppliers in Romania) said at the Regio...
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ENERGY
Romelectro signed with Transelectrica the contracts for three new substations in Romania Following an open tender organized by Transelectrica, Romelectro was assigned the winner for the refurbishing of three substations in Romania, namely Focsani West, Roman North and Bacau South.
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ENERGY
OMV Petrom Group's profit in Q1 up by 38 per cent to 854 million RON  OMV Petrom Group recorded in the first quarter of 2018 a profit of 854 million RON, up by 38 per cent year-on-year, when it stood at 618 million RON, the company announced on Thursday.
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ENERGY
Fondul Proprietatea exits Conpet Fondul Proprietatea, the fund managed by Franklin Templeton, has sold its minority stake in Conpet, the operator of the oil transport network in Romania.
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ENERGY
E-Distributie Muntenia to modernise several electricity networks in Bucharest E-Distributie Muntenia will invest about 6.1 million Euro this year for the modernization of the medium and low voltage grids in Eminescu, Floreasca and Domenii areas in Bucharest, with the purp...
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ENERGY
Transgaz starts working on BRUA pipeline Phase 1 Transgaz started today the construction works for BRUA (Bulgaria - Romania - Hungary - Austria) pipeline Phase 1.
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ENERGY
ArcelorMittal to sell its Romanian plant in Galati The Galati-based steel plant of ArcelorMittal is part of the divestment package the company proposed to the European Commission, the executive arm of the European Union. The company needs the gr...
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ENERGY
Hidroelectrica received two offers for Vidraru plant retechnologization Hidroelectrica received two offers for retechnologization of Vidraru plant, according to sources from the Ministry of Energy.
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ENERGY
Electricity consumption of Romania's households down 9.2 per cent in Q1 2018, statistics show Romania'a household consumers used 9.2 per cent less electricity in the first quarter of this year, compared to the same period of 2017, for a total of 2.9 billion kWh, according to the National...
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ENERGY
Nuclearelectrica to close for maintenance one nuclear reactor at Cernavoda plant for one month Nuclearelectrica, the state-owned company that runs Romania's only nuclear power plant at Cernavoda, said on Friday that it will shut down for 30 days one out of the two nuclear reactors in use ...
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INVESTMENTS
Ikea starts recruiting for second store in Bucharest Ikea started the recruiting campaign for its second store in the Romanian capital, which is currently being built in the Theodor Pallady area in Eastern Bucharest.
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INVESTMENTS
E-Distributie Muntenia supports class for electricians at the Energy Technical College Bucharest E-Distributie Muntenia has signed a partnership agreement with the Energy Technical College Bucharest, and will support starting this year a class in dual system for students who will receive up...
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INVESTMENTS
World Bank signs new Country Partnership Framework with Romania The World Bank Group's Board of Executive Directors endorsed a new five-year Country Partnership Framework (CPF) for Romania that will prioritize investments in people, support for vibrant priva...
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INVESTMENTS
Ford confirms second vehicle for Craiova assembly plant in Romania, 200 million Euro new investment and 1,500 new jobs Ford confirmed today it is investing up to 200 million Euro and adding an additional 1,500 jobs to manufacture a second vehicle at its Craiova Assembly Plant, in Romania.
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INVESTMENTS
TransferGo attracts 8.6 million Euro financing for international expansion TransferGo, the international fast online transfer company, has attracted a round of investment of 8.6 million Euro, which is the biggest amount received in a single financing round by the compa...
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INVESTMENTS
Garanti Bank grants 2 million Euro for the development of the Anima clinics network Garanti Bank recently granted a 9.3 million RON (2 million Euro) investment loan and working capital facility to Anima, part of Medlife Group, for the development of its network of clinics.
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INVESTMENTS
Turkish Opsan leases 5,000 sqm in CTPark Pitesti Turkish car parts maker Opsan has leased 5,000 square meters of industrial space in CTPark Pitesti, the project developed by CTP.
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INVESTMENTS
Investments in Romania's economy rose 14.3 per cent in Q1 2018 Net investments in Romania's economy rose by 14.3 per cent in the first quarter of this year compared with Q1 2017, to 3.4 billion Euro, due to higher investment in equipment and other assets, a...
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INVESTMENTS
Glencore picks Romania to expand product development in oil trading ETRM Inatech, the energy trading risk management (ETRM) systems provider owned by Glencore, announces that it has picked Romania as a new hub for IT development.
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INVESTMENTS
Porsche Engineering Romania aims to reach 120 employees in 2018 Two years since its opening in Cluj-Napoca, Porsche Engineering Romania, the local subsidiary of the global engineering services provider, has expanded its scope of work in the field of automoti...
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INVESTMENTS
Alexandrion Grup acquires six new companies from Halewood's portfolio Alexandrion Group has announced that it has completed the transaction with the English group Halewood International Holding PLC for the acquisition of six new companies in Romania's wine product...
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INVESTMENTS
Romania is the sixth most popular country for data centre investment, report shows Romania ranks 6th in the top destinations in the datacentres market in Europe, while the Nordics and the Netherlands occupy the first positions, according to Savills new Data Centre Investment I...
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INVESTMENTS
B. Braun starts the execution of greenfield investment in Timis County B. Braun, one of the world's leading providers of medical products, starts the construction works at Group's largest greenfield investment in Romania, at Sanandrei, Timis County.
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INVESTMENTS
Bucharest, Brasov and Constanta sign cooperation memorandum The mayors of Bucharest, Brasov and Constanta signed a cooperation memorandum for promoting tourism in the three cities and announced the creation of a tourism development association.
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INVESTMENTS
Amazon to open second center in Romania The world's largest retailer Amazon will open a center in Romanian capital Bucharest at the beginning of May, the company announced.
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INVESTMENTS
CBRE intermediates a land transaction for a washing machines plant in Hunedoara CBRE intermediated the acquisition of a 42-ha plot by BSH Electrocasnice Manufacturing, the Romanian subsidiary of the German concern BSH Hausgerate GmbH, part of Bosch group.
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INVESTMENTS
Renault to invest one billion Euro in electric vehicles production Renault will invest more than 1 billion Euro to increase electric vehicle production capacity in France and add new models.
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INVESTMENTS
Regus launches its 8th location in Bucharest Regus, global provider of flexible workplace solutions, has opened its eight location in Bucharest, located at Anchor Plaza and is expanding in the western part of Bucharest.
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INVESTMENTS
Ford to open social entrepreneurship hub in Romania Ford Motor Company Fund, the philanthropic arm of Ford Motor Company, announced that the first Ford Resource and Engagement Center (FREC) in Europe is to be established in Romania, with a focus ...
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APPOINTMENTS
Airbus appoints Serge Durand as head of Romanian operations Airbus has announced the appointment of Serge Durand as head of the company's operations in Romania.
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INFRASTRUCTURE
Nuclearelectrica: Unit 1 in Cernavoda will be stopped in 2026 for refurbishment, project costs up to 1.5 billion Euro Unit 1 in Cernavoda nuclear power plant will have undergo a process of refurbishment in 2026, a project that will cost around 1.2-1.5 billion Euro, according to Romeo Urjan, the head of Nucleare...
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INFRASTRUCTURE
New bill regulating activity of Uber, Taxify in Romania, submitted to Parliament A draft bill regulating ridesharing services in Romania, such the ones provided by Uber or Taxify, has been submitted to the Parliament by several MPs from both ruling and opposition parties.
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INFRASTRUCTURE
CFR Calatori passenger trains register total delays of almost nine years in 2017 The trains ran by the state-owned company CFR Calatori registered total delays of some 4.53 million minutes in 2017, which translates into around 8.6 years, according to data from the company.
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APPOINTMENTS
Catalin Radu named head of Bayer Pharmaceuticals in Romania and Moldova Bayer Pharmaceutical's operations in Romania and the Republic of Moldova will be coordinated starting this month by Catalin Radu, who will take over the attributions of Gerhard Waltl.
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APPOINTMENTS
AFI Europe Romania appoints Doron Klein as new CEO AFI Europe Romania announces the appointment of Doron Klein as CEO of the company as of July this year. He currently runs AFI Europe Czech Republic operations. Doron Klein will replace David Hay...
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INFRASTRUCTURE
Bucharest to build new terminal for Henri Coanda International airport The procedures for building a new terminal at the Henri Coanda International Airport, which serves Romania’s capital, are ongoing.
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INFRASTRUCTURE
Bucharest wants to expand its Old Town Bucharest's Old Town, the city's historic district, will expand to include 50 other streets in the city center, Bucharest mayor Gabriela Firea. The Old Town will also include the Jewish district...
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APPOINTMENTS
David Jordan named new CEO of Policolor-Orgachim group The board of the Policolor-Orgachim group has announced changes in its top management structure: David Jordan has been named the new CEO of the Group.
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INFRASTRUCTURE
Around 35 percent of the Romanian roads are covered with stone and soil, statistics show Romania has made little progress last year in modernizing its infrastructure, official statistics released on Wednesday showing that 35 percent of the roads are covered with stone and soil and o...
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APPOINTMENTS
Deloitte Romania appoints Peter MacDonald as new Audit and Assurance Partner Deloitte Romania announced that Peter MacDonald has joined the firm as Audit and Assurance Partner to lead the Financial Services Industry Audit and Assurance practice.
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APPOINTMENTS
Immofinanz appoints Fulga Dinu as new country manager for Romania Fulga Dinu has taken over the role of Operations Country Manager at Immofinanz Romania and will coordinate the company's development on the dynamic office space and retail centre markets.
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APPOINTMENTS
Andrew James Noble, the new UK ambassador to Romania As the current ambassador of the United Kingdom in Bucharest, Paul Brummell, is reaching the end of his term this summer after four years, he will be replaced by Andrew James Noble, who has most...
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APPOINTMENTS
Renault Technologie Roumanie appoints Alexander Simionescu as new general manager Alexander Simionescu is the new general manager of Renault Technologie Roumanie (RTR), starting April 2018. Pascal Candau, who has held this position for three years, will take on other missions...
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REAL ESTATE
JLL Romania: 80 per cent of buildings under construction built according to international green standards Stability and sustainability are the words that can describe the Romanian office market in 2017, according to Madalina Marinescu, Office Department consultant JLL Romania.
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REAL ESTATE
Great potential comes with big challenges The residential market in Romania registered new record investments in 2017, one of its best years so far - and analysts said the trend will continue for sure this year.
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REAL ESTATE
AFI Europe Romania: Romanian office market was exceptionally successful in 2017 The Romanian office market in 2017 was exceptionally successful, fuelled mainly by increased expansions and new entries in the IT&C, BPO sectors, as Tal Roma, Business Development Manager AFI Eu...
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REAL ESTATE
Globalworth: The number of green accredited buildings continues to grow every year Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Chief Investment Officer...
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REAL ESTATE
Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania 2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, Prague - 10.3 per cent...
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REAL ESTATE
Iulius Mall: 2017 a good year both for office premises delivery and office demand from companies planning to expand Compared to the other countries in the region, Romania still has some catching up to do in terms of high quality office spaces that measure up to European standards, Laurentiu Manea, Manager Off...
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REAL ESTATE
CW Echinox: Green certifications now a standard on the Romanian real estate market 2017 was a well-performing year for Bucharest's office market, with many new occupiers and expansions, and the delivered projects were rapidly absorbed, leading to a significant decrease of the ...
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REAL ESTATE
ESOP: We expect that the green building trend further grows The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research & development centres t...
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REAL ESTATE
Conadi: One opportunity for the residential market is to deliver high-quality projects adapted to buyers' needs Romania's residential market has started to recover, coming closer to normality and likely to achieve its maturity soon, according to Daniela Barbu, Marketing Communications Specialist at Conadi...
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REAL ESTATE
UniCredit announces updates in the Mobile Banking application UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.
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REAL ESTATE
Immofinanz: Constant, visible shift towards energy efficiency on the local office sector Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian Traunfellner, Head of ...
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REAL ESTATE
Bucharest reached over one million employees this year, says C&W Echinox The number of employees in Class A and B office buildings in Bucharest reached around 250,000 at the end of last year, while the total number of employees in the Capital exceeded the threshold o...
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REAL ESTATE
Oasis Development brings new tenants for Prima Shops Oradea Oasis Development, one of the most active retail developers in Romania, welcomes new international and local brands within Prima Shops, the company's retail park & strip mall concept in Oradea....
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REAL ESTATE
German IT company expands in Openville Timisoara A new multinational company has joined the United Business Center, the office component of the Openville Timisoara mixed-use project. Steadforce is a German software consultant and developer, it...
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REAL ESTATE
Pernod Ricard Romania leases 600 sqm of office space in Unirii View Pernod Ricard Romania, one of the most important distilled beverages importers in Romania, leased 600 square meters of office space in Unirii View, the tallest modern office building in downtown...
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REAL ESTATE
Skanska Property Romania appoints Raluca Stanislav as the new Business Development Manager  Skanska Property Romania, the local division of one of the world's largest real estate developers, announces a new member in the company's management.
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REAL ESTATE
Real estate developer Prime Kapital launches its first residential project in Bucharest Regional real estate developer and investor Prime Kapital announces its first residential project, Avalon Estate, offering approximately 800 residential units within a gated-community concept.
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REAL ESTATE
Iulius to begin the construction works for the fourth office building in Openville Timisoara The Iulius Company commences the construction works for the fourth office building of the total six to be included in the Openville Timisoara mixed-use development.
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REAL ESTATE
JLL secures 11 million Euro for refinancing of Lascar 31 Business Center Bucharest JLL has successfully secured 11 million Euro to refinance the Lascar 31 Business Center Bucharest on behalf of the manager of the project, ForeVest Capital Partners. Intesa Sanpaolo Bank Romania...
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REAL ESTATE
Office spaces are being adapted to millennials' requirements, says Colliers One third of Central and Eastern European professionals (CEE) - Poland, the Czech Republic, Slovakia, Hungary, Romania, Bulgaria - believe their workplace will change over the next 2-3 years, ac...
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REAL ESTATE
Vastint leases 1,700 sqm at Timpuri Noi Square to Zitec Vastint Romania has leased 1,700 sqm of office space to Zitec, in the mixed-use development project at Timpuri Noi Square in Bucharest.
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REAL ESTATE
Companies return back into the city, says real estate research When choosing where to relocate offices that companies are occupying, new emerging areas, closer to city center gain relevance. According to a development assessment qualitative report elaborate...
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REAL ESTATE
Dutch office company Spaces opens first locations in Bucharest Dutch workspace company Spaces is opening its first two locations in Bucharest at Unirii View Tower and Campus 6. Constructions have already started and they are due by Q3 2018.
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REAL ESTATE
Bucharest office market: 30 percent of the demand came from the companies that moved into modern projects Companies have rented in the first quarter almost 70,000 square meters of office space in Bucharest, one third of the demand came from companies that formerly had its headquarters in old, small ...
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REAL ESTATE
P3 relocates HQ to Charles de Gaulle Plaza European investor and developer of logistic properties P3 relocated its headquarters to Charles de Gaulle Plaza, one of the most iconic office buildings in Bucharest, owned by the German group G...
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REAL ESTATE
Element Industrial invests 25 million Euro for new industrial project in Bucharest Element Industrial, a new real estate development company focusing on logistic projects, will develop a portfolio of industrial projects in Bucharest and Romania. The first is ELI PARK 1, to be...
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REAL ESTATE
British investor puts 30 million Euro in new mall in Northern Bucharest Nova Imobiliare, the company that owns the Colosseum retail park in Northern Bucharest, will invest some 30 million Euro in expanding the project with a mall.
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REAL ESTATE
Coldea Constructii to expand on the Romanian real estate market Coldea Constructii announces its plans to expand on the Romanian real estate market and focuses on innovation and digitalization.
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REAL ESTATE
Alesonor invests 100 million Euro in first green suburb in Romania Alesonor, a luxury real estate developer owned by Greek investors, plans to develop the first green suburb in Romania, in Bucharest's northern area, with an investment of about 100 million Euro....
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REAL ESTATE
Vox Vertical Village to be delivered in Timisoara at the end of 2019 Vox Vertical Village represents the first "vertical village" concept on the local real estate market and will reunite 120 houses in a building with ten levels. Over a third of the constructed ar...
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REAL ESTATE
Companies leased 38,000 sqm of office space in the first quarter, says Colliers The office market in Bucharest recorded a new net take-up of up to 38,000 sqm in the first quarter of this year. According to Colliers International, demand has come from the energy / industrial...
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REAL ESTATE
Portland Trust sells Oregon Park to Lion's Head Investments Lion's Head Investments makes its first steps into the Romanian real-estate market and announces the acquisition of Portland Trust's and Ares Management's Oregon Park project, which consists of ...
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REAL ESTATE
H&M leases 1,000 sqm for future HQ in Unirii View project Fashion retailer H&M leases 1,000 sqm for its future HQ in Unirii View office project.
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REAL ESTATE
AFI Europe Romania posts 13.6 million Euro net operating income, up 12 per cent in Q1 2018
AFI Europe Romania published its financial results; The Net Operating Income from its income producing assets in Romania reached 13.6 million Euro during Q1 2018, representing 12 per cent high
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REAL ESTATE
AFI Europe Romania starts the construction of AFI City residential project AFI Europe Romania announces the start of the AFI City residential project construction. First phase is to end in 16 months and will deliver two buildings with 190 homes.
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REAL ESTATE
Skanska sells first office building in Campus 6 Bucharest to CA Immo CA Immo has acquired Campus 6.1 office building in Bucharest from Skanska. The transaction volume is 53 million Euro. The closing of the transaction is subject to the conditions usual for such t...
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REAL ESTATE
CTP appoints Daniel Paraschiv as business development manager for Transylvania region Industrial parks developer CTP has appointed Daniel Paraschiv as Business Development Manager for Transylvania, starting June. He will oversee the company's growth and strengthening in the Weste...
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REAL ESTATE
Belgian real estate group finalizes one of the biggest land transaction in Romania Romanian broker specialized exclusively in industrial real estate Dunwell, and VGP, one of the main industrial parks developer in Germany and CEE, concluded a 230,000 sqm land transaction in Bra...
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REAL ESTATE
Porsche Engineering Romania leases 3,500 square meters of office space in Cluj-Napoca The software developer for the automotive industry Porsche Engineering Romania, the local subsidiary of Porsche Engineering Group GmbH, leased 3,500 square meters of modern office space in Vivid...
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REAL ESTATE
CTP started the construction works in CTPark Cluj II CTP started the construction works for CTPark Cluj II, a new logistics park located near Cluj-Napoca, in Floresti. The property will comprise a total leasable area of 30,000 sqm and will be fina...
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REAL ESTATE
AFI City residential project certified as a Green Home AFI Europe Romania enters ROGBC's Pre-Certification phase as Green Project with AFI City's first two residential buildings developed by the company in Bucharest.
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