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Companies from Austria invest 10.9 bn euros in Romania

Wednesday, September 17, 2014

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Austrian companies' investments in Romania total 10.9 billion euros and represent 18.5% of the total foreign direct investments made in Romania, Rudolf Lukavsky, commercial advisor with Austria's Embassy in Bucharest, told a Tuesday's relevant conference. 'Over 1,000 Austrian investors are active in Romania, through 6,794 Austrian-owned companies, totalling over 100,000 employees, taking into account the jobs created directly,' said Lukavsky. He ...

DefMin: Cugir-based weapons factories get manufacturing orders from Army

Wednesday, September 17, 2014

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National Defence Minister Mircea Dusa said in this central Romanian city on Monday that two weapons factories based in nearby Cugir have received manufacturing orders aimed to equip the Army, following the additional money the ministry had received on the budget revision, but he failed to cite how much the closed contracts are worth.When asked whether the two weapons factories based in Cugir - the Mechanical Works and the Weapons Factory respectively - have ...

Vodafone might consider acquiring UPC Romania’s mother company, “for the right price”

Wednesday, September 17, 2014

The CEO of the Vodafone Group, Vittorio Colao, when asked whether Liberty Global might be a good fit for the U.K. wireless carrier, said he would consider it “for the right ...

Vitis Metamorfosis opened its first wine cellar in Romania's Vadu Spart, Ungureni commune

Wednesday, September 17, 2014

Premium wine producer Vitis Metamorfosis opened its first wine cellar in Romania's Vadu Spart, Ungureni commune. The company invested EUR 2.85 million in the complete restoration of the structure, and that includes the price of the property itself (EUR 300,000).   The wine cellar in ...

PM Ponta: Romania a regional market where big companies confidently invest

Wednesday, September 17, 2014

Romania is a national and regional market where big international companies confidently invest, which is the best signal the country could get, Prime Minister Victor Ponta claimed on Friday, attending the event of rebranding Romtelecom & Cosmote Romania as Telekom Romania.Besides Deutsche Telekom, the Service Centre of ...

Lykamobile launches MVNO with Telekom Romania 

Wednesday, September 17, 2014

Lycamobile will launch Romania's first MVNO through a partnership with Cosmote Romania, which was recently rebranded as Telekom Romania, according to local publication Economica.net citing the operator's representatives. Lycamobile will provide voice and data services both via prepaid cards as well as postpaid tariff plans and enters a market where the penetration rate of mobile services is of over 125 percent. The MVNO will offer international calls ...

Huawei plans EUR 130mln turnover in Romania this year

Wednesday, September 17, 2014

Huawei Technologies Romania aims to post EUR 130 million turnover this year, a slight growth over 2013, when the company posted EUR 127 million. “This is a realistic scenario. Over 50 percent of the business achieved by the Romanian subsidiary of the Chinese group Huawei Technologies is generated by deliveries of network equipment. We are betting on the operators’ investment ...

Wizz Air continues expansion in Romania

Wednesday, September 17, 2014

Wizz Air announced further expansion in Romania.This news follows theannouncement of 13 new routes and additional based aircraft in Cluj-Napoca and Timisoara just a month ago. The airline will deploy 1 new aircraft in Bucharest, bringing its fleet in Romania to 17 Airbus A320, representing 29% capacity growth in 2015 year-on-year. The 9th  Bucharest based aircraft will be delivered at the end of July 2015. Wizz Air also announced operations from Iasi ...

UPC Romania launches new portfolio of tariff plans

Wednesday, September 17, 2014

UPC Romania launched a new portfolio of tariff plans. Among the most important tariff plans is Fiber Power 500 Mbps, the thematic TV package Smart dedicated to families with children, and also new telephony packages which include unlimited conversations towards fixed and mobile numbers. Available in the cities of Bucuresti, Timisoara, Ploiesti, Cluj Napoca, Iasi, Galati, Constanta and Alba Iulia, Fiber Power 500 costs RON 70 per month. The operator's ...

KMG International to divest Zalau-based industrial fittings producer Rominserv Valves Iaifo

Wednesday, September 17, 2014

KMG International, owner of the Zalau-based producer of cast iron and steel industrial fittings Rominserv Iaifo Valves, plans to sell this asset to a partner interested in continuing the production activity; company representatives assured that the divestment decision will not imply layoffs or other restructuring moves. 'KMG International, former Rompetrol Group, has sets itself as a target the divestment, in the next period, of the activities related to the ...

Orange no longer interested in acquisitions in Romania

Wednesday, September 17, 2014

French telecom group Orange is no longer interested in further acquisitions in other countries after buying a Spanish competitor Jazztel to keep up with the trend to “converged” offers that bundle fixed and mobile services. The statement was made by Orange Chief ...

Telekom Romania turns magenta

Wednesday, September 17, 2014

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Phone service consolidation in Romania as Romtelecom and Cosmote unveiled a new brand identity with the links to Deutsche Telekom emphasised in the ‘T’ logo and a very liberal use of Deutsche Telekom’s trademark magenta colour. ...

Oltcit - Daewoo - Ford, four decades of automotive history in Craiova

Wednesday, September 10, 2014

The car factory of Craiova is the place where three world-scale automakers on three continents - European Citroen, Asian Daewoo and American Ford - worked successively, producing models for the domestic market and for export.Although the initial goals the producers set themselves were never reached, hundreds of thousands of cars leaved the factory - Oltcit, Daewoo and Ford B-Max models were just some of them.Automobile Craiova was founded in 1976 as a ...

Competition Council greenlights taking over by Getin Holding of VB Leasing Romania

Wednesday, September 10, 2014

The Competition Council has authorised the economic concentration operation through which Getin Holding is taking over control of VB Leasing Romania IFN and VBL Broker de Asigurare (insurance broker), according to a release of the competition body.Getting Holding is a Polish company part of a group operating in financing services in Poland, Russia, Belarus, Ukraine and Romania. The group is represented in Romania by the Romanian International Bank and Getback ...

Groupon Shuts Down in Romania

Wednesday, September 10, 2014

Due to the lack of business in the market and low internet penetration, Groupon decided to shut down its service in Romania. After several challenging years and the reality that Romania is still in its developing stages of e-commerce, Groupon announced its decision to shut down on September 3, 2014. The company confirmed that Groupons that were already purchased will be honored until the date originally agreed upon, and that customers also have the ...

Commerce and constructions, the sectors with most insolvencies in 2014 (study)

Wednesday, September 10, 2014

  The first ten economic sectors in Romania to record the highest number of the companies in insolvencies were left unchanged in Q1 of 2014, the only amendments being at the level of order in the top, but with varieties of one, maximum two positions, according to the most recent study of the company for evaluation of risk Coface ...

AmCham Romania & AMRO opinion on regulatory impact assessment

Wednesday, September 10, 2014

AmCham Romania and the American-Romanian Business Council (AMRO) welcomed on Monday the Parliament’s decision to discuss the Action Plan proposed by Victor Ponta in May, on the occasion of Joe Biden’s visit to Romania, of increasing the business relations between Romania and US companies. “At the time, on behalf of AmCham Romania and the American-Romanian Business Council (AMRO), we were publicly welcoming the Prime Minister’s ...

PM Ponta encourages Halliburton Co to develop investments in Romania

Wednesday, September 10, 2014

Prime Minister Victor Ponta encouraged the management of Halliburton Co, one of the world's biggest suppliers in energy field, to develop investments in Romania, taking into account possible opportunities in oil production from mature fields and in the operations in the Romanian Black Sea area. According to a press release issued late on Sunday, Prime Minister Victor Ponta met on Thursday, September 4, at the Victoria Palace, with Halliburton's president for ...

Top 10 biggest companies in insolvency in 1st half-year 2014 count for turnover 660 M euros

Wednesday, September 10, 2014

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The biggest 10 companies which entered insolvency in the first six months of 2014 have had a cumulated 660 million euros in turnover and 16-year average activity span, according to a research by the risk assessment company Coface Romania.The biggest company which became insolvent in the first half-year is Planoil, which dealt with the fuels' distribution, with 138 million euros in turnover and 13 years of activity, followed by two large companies belonging to the ...

Ponta: We must keep on taking measures to boost state companies competitiveness

Wednesday, September 10, 2014

Romanian Prime Minister Victor Ponta urged Ministers of Transport Ioan Rus and Energy Razvan Nicolescu on Thursday to keep on taking measures to boost the competitiveness of the state-owned companies, amid reports that Romania has climbed 17 spots in the world competitiveness ranking.'Romania is the country having grown the most, 17 spots in the competitiveness ranking. I am telling Minister Rus and Energy Minister Nicolescu that as far as the state-owned ...

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