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The government gives up the intention of giving away the majority of shares to defence companies

Wednesday, November 26, 2014

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The government gives up the intention to give away the majority packages of shares with companies in the defence industry and will keep a minimum of 50% of the social capital to their privatisation, establishing the fact that they will choose, as a priority, strategic investors who own technologies and know-how performances. The intention of the government to security at least half of the shares of companies in the defence industry at the moment of their privatisation, is indicated ...

The factory for paper and cellulose Somes Dej banckrupt, for sale at a price of 7.9 million euro

Wednesday, November 26, 2014

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The factory for paper and cellulose Somes Dej which has been bankrupt since 2013 and controlled by the business person Stefan Vuza was put for sale through direct negotiation, at a starting price of almost 7.9 million euro, without VAT. The cellulose and paper producer got insolvent at the end of January 2013, the Cluj Tribunal approving the reqest of the company to open the procedure, and in December last year the tribunal decided bankruptcy. The Transilvania Insolvency ...

Competition Council has authorized Michelin to take over tyre distributor IHLE Holding AG

Wednesday, November 26, 2014

The Competition Council has authorized Michelin group's request to take over tyre distributor IHLE Holding AG, a transaction already notified in Germany, Austria, France, Hungary and the Czech Republic, the competition authority announced on Tuesday. Following the approval, Michelin Group, through Michelin Finanz Gesellschaft ...

KBW Investments acquires 50 percent stake in Arcadia Romania

Wednesday, November 26, 2014

*Acquisition positions Arcadia for growth amidst continuing demand for construction in Middle East KBW Investments formalized today the completion of a 50 percent acquisition of Arcadia Engineering, an engineering firm with existing operations in Romania and Brazil, in a signing ...

Telekom Romania unveils first own brand tablet

Wednesday, November 26, 2014

Telekom Romania Mobile Communications, recently rebranded from Cosmote Romania, launched its first own brand tablet. Called SpeedTab, the mobile device is 9.9 millimetres thin with a metal unibody design and a 10.1 inch IPS LCD touchscreen with 1280x800 HD resolution in order for customers to enjoy clarity while they watch their favourite videos or pictures. More than that, the tablet has dual speakers with DTS surround sound for a high quality sound ...

EY 2014 European Attractiveness Survey

Wednesday, November 26, 2014

Romania remains on the 10th position in Europe regarding the number of jobs created through foreign direct investment in 2013, according to the annual EY report - European Attractiveness Survey. Thus, last year Romania has attracted foreign investment that generated 6,157 jobs, 13% less than the previous year, when FDI generated 7,114 jobs in Romania. First five countries in the ranking are the UK, France, Poland, Russia and Serbia. Also, Romania has ...

Debenhams confirms return to Romania

Wednesday, November 26, 2014

British fashion retailer Debenhams has confirmed rumors that it will return to the local market after announcing it is recruiting managers for new stores in Bucharest on the Ejobs recruiting platform. The retailer is looking for a store manager and a cosmetics department sales manager for the “future stores openings”.   A Debenhams store could ...

KPMG survey: Salary hikes expected in 2015 to keep qualified staff, say CEE business leaders

Wednesday, November 26, 2014

Hiring and keeping qualified staff is an increasing problem for companies in Central and Eastern Europe (CEE), which is likely to lead to further salary hikes in 2015, reveals the latest KPMG survey Economic Pulse 2014.   In a poll of 456 business leaders from eight countries – the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia (the “CEE8”), 69% said they planned to raise ...

Companies that suspended their activity decreased in the first ten months

Wednesday, November 26, 2014

  The total number of companies that suspended their activity decreased in the first ten months of this year by 28.33 per cent from the similar period in 2013, that is from 18,796 to 13,471, according to the data centralized by the National Trade Registry ...

Telekom Romania announces availability of Office 365

Wednesday, November 26, 2014

Telekom Romania announced the availability of the Microsoft Office 365 suite for its business clients. With Office 365, Telekom Romania adds a complete productivity platform to its portfolio of integrated services for the business customers, which includes fix and mobile internet, fix and mobile voice services.   With Office 365, Telekom Romania customers benefit from the entire suite of applications and tools from ...

P&G sells detergent factory in Timisoara to Dalli

Wednesday, November 19, 2014

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The American giant Procter & Gamble sold the detergent factory in Timisoara to the German group Dalli, Mediafax informs. According to industry sources, Dalli will continue to produce P&G detergents for another three years. P&G manufactured laundry detergents Ariel, Tide and Bonux, Fairy dish washing detergent, sold in countries in the area. P&G has been present in Romania since 1992. In 1995 it bought the Timisoara Detergent factory with 40 million ...

Boromir reports a profit of 1.029 million lei

Wednesday, November 19, 2014

Milling and bakery company Boromir Prod Buzau, listed on the Bucharest Stock Exchange /BVB/ reported, in the first nine months of this year, a profit of 1.029 million lei, compared to a loss of 2.890 million recorded in the same period of 2013, according to the financial data released on Tuesday for the BVB. Also, the company ...

Deregistered companies dropped by 3.76 percent down to 63,798 over Jan.-Oct. 2014

Wednesday, November 19, 2014

The number of deregistered companies dropped by 3.76 percent down to 63,798 over Jan.-Oct. 2014, compared to 66,292 in the similar period of last year, according to the statistics released by the National Trade Register Office (ONRC). The majority of deregistrations were recorded in Bucharest - 8,645 (down 3.36 percent ...

Biofarm recorded a net profit of 21.442 million lei

Wednesday, November 19, 2014

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Pharmaceutical producer Biofarm recorded, after the first three quarters of 2014, a net profit of 21.442 million lei, up by 15.53% from that recorded in the same period of last year, 18,560 million lei respectively. The company's sale revenues amounted to 89,480 million lei, by almost 5% higher compared to those ...

Large corporations to help channel Chinese investments in Romania

Wednesday, November 19, 2014

People are worried about the Middle East, Iran, North Korea or the evolutions in the conflict between Russia and Ukraine, but the biggest challenge of our times is none of the above, it is China’s rise and its way of managing this global power peacefully.’ This was a statement made a few months ago by American economist Nouriel Roubini, who warned that China would soon be the biggest economic power on the planet, its political power will grow, and its territorial ...

Coface: Insolvencies in Romania down 17 percent in Q3

Wednesday, November 19, 2014

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During the first nine months of this year 15,575 new insolvencies were registered in Romania, down 17 percent compared to the same period of 2013, when 18.735 new insolvencies were opened, an analysis by credit risk management firm Coface shows. The ...

Romania's Transelectrica 9-month profit above forecast

Wednesday, November 19, 2014

 State-owned Romanian power grid operator Transelectrica nine-month net profit more than doubled to 303 million lei ($85.37 million) it said on Friday, driven by higher revenues and market deregulation. Analysts at SSIF Broker had expected a net profit of 275 million lei in January-September. Transelectrica recorded a nine-month net of 132 million lei last ...

Romania's Hidroelectrica reported a RON 124 million profit in October

Wednesday, November 19, 2014

Romania's state-owned hydroelectricity producer Hidroelectrica reported a RON 124 million profit for the month of October. For the first ten months of the year the company posted a profit of RON 943 million, up 23.64 percent compared to the same period of 2013. The company says the growth is due to the higher energy sales and the cost controls imposed by the legal administrator EuroInsol through its reorganization plan. In the first ten ...

Zentiva recorded 42.963 million lei in net profit in the nine months of 2014

Wednesday, November 19, 2014

 Pharmaceuticals producer Zentiva recorded 42.963 million lei in net profit in the nine months of this year, up 15.4 percent from Jan.-Sept. 2013, according to the information sent the Bucharest Stock Exchange (BVB) on ...

UniCredit Tiriac Bank, consolidated net profit after minority interest of 141.6 million lei

Wednesday, November 19, 2014

UniCredit Tiriac Bank recorded a consolidated net profit after minority interest of 141.6 million lei (31.8 million euros) in the first nine months of 2014, according to a press release issued on Wednesday.According to the bank, consolidated operational revenues stood at 1.16 billion lei (261 million euros), a level similar to that ...

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