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All companies of the defence industry, except for IAR Ghimbav are in deficit

Wednesday, February 25, 2015

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Sorin Encutescu, state secretary in the ministry of economy stated recently in Targoviste as all companies in the defence industry, except for IAR Ghimbav Brasov are in deficit. ‘All companies in the defence industry, except for IAR Ghimbav Brasov are in deficit.So, the three companies from Dambovita in Mija, Dragomisti and Automecanica Moreni are included although they have ...

Cubic to continue MILES IWS deliveries to Romanian Army

Wednesday, February 25, 2015

Cubic has been awarded a contract modification to continue the supply of its multiple integrated laser engagement system individual weapon systems (MILES IWS) to the Romanian Army.Under the terms of the $2.9m agreement, the company will supply MILES IWS equipment, spare parts and computer server and software updates.   The deliveries will refresh the Romanian Exercise Control Centre, which was originally delivered under a ...

CEZ Romania: over EUR 2 billion of investments in ten years

Wednesday, February 25, 2015

Martin Zmelik, country manager and president of the board at CEZ Romania, tells Business Review about the local economic climate over the past decade and outlines the company’s main investments and achievements since its entrance on the Romanian market.   What do its ten years on the Romanian market mean for CEZ Romania? CEZ Romania has ...

Holcim Romania cement and clinker sales up by 7.8 pct in 2014

Wednesday, February 25, 2015

Cement and clinker sales volumes of Swiss Holcim in Romania increased by 7.8 percent last year compared to 2013 due to the large projects developed in Bucharest area, provided that, in Europe, the market’s revival was below expectations.   According to the company, cement prices fell by 1.2 percent in Romania in 2014 against the previous year.Regarding the aggregate market, ...

Bitdefender Endpoint Security Wins `Best Performance 2014’

Wednesday, February 25, 2015

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Bitdefender, the creator of innovative antivirus ...

Schweighofer's new BEAM-plant in Radauti, Romania, began operation

Wednesday, February 25, 2015

  After the test period the new Schweighofer gluelam plant received the necessary JAS certificate (Japan Agriculture Standard) and went into operation in February, as the company said in the press release received by Lesprom Network.    BEAMs are made by glueing together strength-tested lamellas in a specially required structure, this ensures a homogene stability. They are used for ...

Major shareholder wants Petroceltic to offload assets in Greece and Romania

Wednesday, February 25, 2015

The activist investor at the centre of the ongoing board battle at Irish explorer Petroceltic is confident its push for a change to the company’s management and operational strategy will succeed this year, even if it loses the vote at next week’s shareholder meeting. Angelo Moskov, chief executive of Swiss-based investment firm Worldview Capital Management — which has been a shareholder in Petroceltic since 2011 and ...

Carrefour expands its supermarket network to 92 units

Wednesday, February 25, 2015

Carrefour Romania will open a new Market supermarket on Thursday in Bucharest, expanding its network to 92 such supermarkets countrywide, announced the retailer, according to Mediafax.The new supermarket is located on Virtutii street, has an area of 600 sqm and includes a range of about 6.400 products.Carrefour Romania has a network of 173 stores, including 27 Carrefour hypermarkets, 92 Market supermarkets, 44 Express convenience stores, 9 Contact ...

Milk factories in Romania are faced with difficulties

Wednesday, February 25, 2015

Over 50 milk factories in Romania, one third of the total in the country, shut down last year due to rising production costs. In addition, massive imports and the increase in shelf fees in supermarkets made the situation much harder among producers.   The 130 factories that still work at present may face even worse problems starting with April 1st, when milk quotas will be scrapped in the EU. The head of the National ...

Globalworth controlled by Ioannis Papalekas owner of real estate projects of 600 million euro

Wednesday, February 18, 2015

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The Globalworth company controlled by Ioannis Papalekas had at the end of last year a real estate portfolio in Romania estimated at almost 600 million euro, without the Unicredt, Nusco Tower andGreen Court buildings and wants to buy land and an office building worth 43 million ...

STC and Elsaco companies won tender for modernization of Oradea power plant

Wednesday, February 18, 2015

Oradea Town Hall attributed a contract to STC and Elsaco companies for the construction of a co-generation group for the power plant in Oradea.   The power group, with a capacity of 42 MW, is financed from funds from the Environment Sectorial Operational Program of 53 million euros, said Ilie Bolojan the mayor of Oradea on Tuesday. Bolojan added that another 50 million euros will be used to ...

Cluj IT Cluster, awarded the 'Bronze' label

Wednesday, February 18, 2015

Cluj IT Cluster, one of Romania's leading IT clusters nationwide, was awarded the 'Bronze' label following an audit conducted by the European Cluster Excellence Initiative (ECEI) according to a EC-approved methodology. This quality label is bestowed on cluster management entities, with the audit following a standard European ...

New business incubator in Cluj for new companies in the IT&C

Wednesday, February 18, 2015

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The company that administrates the Regional Centre of Excellency for Creative Industries (CREIC) of Cluj-Napoca, Cluj Innovation Park, announced on Thursday it will establish a business incubator for new companies in the IT&C, software, computer games and telecommunications ...

CFR Calatori estimates an accounting profit of 3.134 million lei

Wednesday, February 18, 2015

Rail operator CFR Calatori [Passengers] estimates an accounting profit of 3.134 million lei, total revenues of 2.097 billion lei and expenditures of 2.094 billion lei, according to the draft decision on the approval of the company' 2015 budget of revenues and expenditures. The operating revenues stipulated in the draft decision are ...

Initiatives for the rewriting of the Tax Code and Code of Fiscal Procedures for SMEs

Wednesday, February 18, 2015

The Ministry of the Business Milieu suggests that the companies taking part in public procurement bids should produce a report concluded with their previous subcontractors that will show the bidding companies' financial obligations to the subcontractors have been met. This is one of the initiatives of the Ministry of Energy, SMEs ...

Orange Romania revenues fall by 2.7 pct to EUR 909 mln

Wednesday, February 18, 2015

Orange Romania revenues fell by 2.7 percent to EUR 909 million in 2014, mainly due to interconnection fares, while the number of clients grew by 95.000 to 10.531 million,the company said on Tuesday.   Excluding the impact of the interconnection fares, the operator’s revenues were 4.2 percent higher last year when the company registered incomes amounting EUR 934 million, ...

Eximtur, 40 million euro turnover in 2014

Wednesday, February 18, 2015

Romanian travel agency Eximtur recorded a EUR 40 million turnover in 2014, up 9% over the previous year.The business travel services and the organization of events made up 63% of the company’s turnover.The incoming division grew six times, bringing to Romania 2,000 tourists from Austria, Slovenia, and the UK.   Romanian travel agency Eximtur recorded a EUR 40 million turnover in 2014, ...

Romania's Giurgiu port will be upgraded following an investment of EUR 15.7 million

Wednesday, February 18, 2015

Romania's Giurgiu port, alongside Bechet and Corabia ship ports, managed by the Danube River Port Administration, will be upgraded following an investment of RON 70 million (EUR 15.7 million), VAT included. According to Mediafax, the three projects, elaborated by the Ministry of Transport, are financed through state budget and external funds. The first investment, aiming hydro technical engineering works in Giurgiu ...

EurActiv: IMF expects Romanian economy to grow 2.7% in 2015

Wednesday, February 11, 2015

The International Monetary Fund (IMF) expects the Romanian economy to grow 2.7% this year and 2.9% in 2016, fuelled mainly by private consumption. But weak public infrastructure was hindering higher growth, it said late on Monday (9 February).   Romania failed to reach an agreement with the IMF, the European Commission and the World Bank on its €4 billion euro aid deal - its third since 2009 - as Bucharest ...

IMF: Romanian economy has largely corrected the internal and external imbalances

Wednesday, February 11, 2015

The Romanian economy has largely corrected the internal and external imbalances through a mix of solid macroeconomic policies, but Romania remains vulnerable to external shocks, and fixing balance sheets has not been finalized yet, show the International Monetary Fund (IMF) experts in the Declaration issued at the end of their mission to ...

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