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PM Ciolos: Romanian economy forecasted to grow by 4.8 percent in 2016

Wednesday, September 21, 2016

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According to forecasts, the Romanian economy will grow by4.8 percent in 2016. Romanian PM Dacian Ciolos is presenting to the Parliament the outlook of the Romanian economy at the request of Social Democratic Party (PSD)chair Liviu Dragnea, business-review.eu reports. In 2016 the Romanian economy will grow by 4.8 percent,exceeding the initial forecast of 4.2 percent, PM Ciolos told the plenum of the ...

Government and Proprietatea Investment Fund are to capitalize Romanian Postal Company at 50 million euros

Wednesday, September 21, 2016

Romanian Government and Proprietatea Investment Fund are to capitalize Romanian Postal Company at 50 million euros, in order to pay its outstanding taxes and debt and sell a minority stake on the stock market, Chair of the Competition Council Bogdan Chiritoiu said on ...

Brexit consequences: the auto companies intend to move their development centres to Romania, Bulgaria and Hungary

Wednesday, September 21, 2016

The car producers intend to move their research centres to Eastern Europe after the vote in favour of Brexit in the UK to decrease costs and to keep free access to the European market, says the Guardian. Recruitment companies look for qualified personnel and executive managers who could lead research and development teams in Bulgaria, Hungary and Romania. The change of direction to Eastern Europe of the last years intensified ...

Linde Gaz investments in Romania total EUR 315 mln in 20 years

Wednesday, September 21, 2016

Linde Gaz Romania, the industrial gases company, has invested more than EUR 315 million since 1996 and now has a team of almost 500 specialists in sectors including chemicals, glass, energy, food, pharmaceutical and medical, petrochemical and refining, hydrogen, steel and metal fabrication, business-review.eu reports. In 2015 Linde Romania recorded a turnover of RON 531.6 million (about 118 million EUR). “At the time of ...

Ford Romania CEO: Ford expects SUV segment to grow more after it starts EcoSport production in Craiova

Wednesday, September 21, 2016

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Ford Romania CEO and Craiova plant manager John Oldham said on Thursday that once Ford EcoSport model production kicks off, the number of cars loaded in trucks leaving the factory would double, from 150 cars a week to over ...

 Zitec takes over digital services firm Inotec

Wednesday, September 21, 2016

Zitec, the Romanian developer of online applications, has announced the acquisition of Inotec, a company providing web-design, development and digital marketing services, for an undisclosed sum, in a bid to grow its operations, business-review.eu reports. The IT company took over the team and the portfolio of Inotec, which registered a turnover of EUR 300,000 last year. Zitec said that its plans for new acquisitions are ...

SME Council Chair: Business in the Danube Delta should focus on tourism and sustainable development

Wednesday, September 21, 2016

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Small and medium enterprises (SMEs) in the Danube Delta integrated territorial investment (ITI) area need to focus on tourism and sustainable development, Chairman of the National Council of Private SMEs (CNIPMMR) Florin Jianu said on Friday at the relaunch of the Tulcea county SME Employers Association (PIMM). According to a press statement, CNIPMMR organized a public debate on supporting ITI SMEs in the Danube Delta under operational program ...

Oltchim expected to be split up for sale

Wednesday, September 21, 2016

Following numerous rescue and privatization attempts,  and just as many disappointments, it now appears that at last the Romanian state owned chemicals company Oltchim SA will now be sold off piece by piece, plasticsnews.com reports. After years of waiting, Romania’s biggest chemicals operation, 54.8 percent state owned and bankrupt since 2013, is now being divided up into nine separate business units for sale to private sector ...

UPC Romania to integrate Netflix in its media-boxes as part of global deal

Wednesday, September 21, 2016

UPC Romania will distribute content from Netflix to its local customers, as part of a global deal that was inked by Liberty Global and the video streaming service, business-review.eu informs. The roll out of the Netflix app on the media-boxes of Liberty Global, the owner of UPC Romania, will begin immediately in the Netherlands. The integration should be completed by the end of next year in all the 30 countries in which the company has ...

UK-based Endava merges operations with ISDC active in Bulgaria, Romania

Wednesday, September 21, 2016

UK-based IT solutions provider Endava, which has delivery offices in five SEE countries, said on Thursday it merged operations with the Netherlands-based ISDC, which is doing business in Bulgaria and Romania, seenews.com informs. The merger will further underpin Endava’s ability to serve an increasingly global client base that includes some of the world’s leading brands across finance, insurance, telecommunications, media, technology, ...

SAP Romania to hire 100 specialists for three centers across the country

Wednesday, September 21, 2016

SAP Romania, the provider of software, will hire 100 specialists for its centers in Bucharest, Cluj-Napoca and Timisoara until the end of the year. The company currently has 400 employees in Romania. „Our plan is to finish the year 2016 with 500 employees. We’ll make recruitments in Bucharest, Cluj and Timisoara. The labor market competition is sharp. Knowledge of more ...

52 million euros for Airbus Helicopters 's new factory in Romania

Wednesday, September 14, 2016

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Airbus Helicopters has opened a new factory in Romania on an investment worth 52 million euros for the manufacturing of the twin-engine H215 helicopter the first of which is expected out of the assembly line in 2018. The Airbus Helicopters Industries factory is located at Ghimbav, close to the central city of Brasov, covering 10,000 square metres. The H215 hecliopter is is a heavy-weight, twin-engine helicopter with outstanding performance, known for its high ...

FDI into Romania rise 19% y/y in Jan-July

Wednesday, September 14, 2016

Foreign direct investments (FDI) into Romania increased 19% on the year to 2.339 billion euro ($2.62 billion) for the first seven months of 2016, the country's central bank, BNR, said on Tuesday, quoted by seenews.com. Out of the total, equity investment amounted to 2.060 billion euro and inter-company lending recorded a net value of 279 million euro, the BNR said in a statement. Last year, FDI into Romania totalled 3.03 billion euro, up ...

AFI Europe Romania to start the development of AFI TECH PARK Office project

Wednesday, September 14, 2016

AFI Europe Romania, part of the international holding AFI Europe, will start the development of AFI TECH PARK, a 50,000 sqm business park situated close to the Romanian Parliament, business-review.eu informs. The first phase of the project, AFI TECH PARK 1, is scheduled to be delivered in the first quarter of 2018 and will offer 20,000 sqm of office spaces. “After the successful completion of AFI Park 1-5, AFI Europe Romania is targeting a ...

Motivi brand opens the 18th store in Romania, following EUR 140,000 investment

Wednesday, September 14, 2016

The Italian brand Motivi, part of the fashion retailer Miroglio Fashion SRL, has opened a new store in Bucharest, within ParkLake mall, business-review.eu informs. The new store was opened following a EUR 140,000 investment.   „Romania is one of the countries in which we want to consolidate our position. The interest of Romanian women in fashion is similar to these in Italy and this is why we boosted the ...

MFE, MAE offer EUR 30 million to entrepreneurs from Romanian diaspora

Wednesday, September 14, 2016

The Ministries of European Funds (MFE), together withMinistry of Foreign Affairs (MAE) are opening for public debate the guide of the Diaspora Start-Up program, business-review.eu reports. The aim of the program, implemented via the Human Capital Operational Program (POCU), is to boost entrepreneurshipamong entrepreneurs in the Romanian diaspora and those who returned recently. The entrepreneurship ...

Romanian private sector wage growth at 3.7 pct in 2016, says PwC study

Wednesday, September 14, 2016

Wages in the private sector have increased by 3.7 percent on average in 2016, a slightly lower gain compared to the growth planned by companies (3.9 percent), according to this year’s edition of the salary and benefits PayWell Romania study made by professional services firm PwC, quoted by business-review.eu. The highest average salary increases were registered in the retail (4.3 percent) and FMCG (5.8 percent) sectors, while gains belowe the ...

Gov't: 900 million lei for SMEs to develop their investments

Wednesday, September 14, 2016

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 Small and medium-sized enterprises (SMEs) will be supported to develop their investments under a new multiannual state-aid scheme, worth 900 million lei, informs a Government release. The Government adopted on ...

Cristian Popescu becomes managing director of SAP Romania

Wednesday, September 14, 2016

SAP Romania, the subsidiary of SAP SE, the provider of software solutions for business and technology, has appointed Cristian Popescu as the new managing director of its local operations, business-review.eu reports. Popescu had the role of country sales director within Fujitsu Romania in the past two years. Previously, he was part of the Cisco team, having different positions and in 2010 be became the general director of the ...

Romania’s BRD Sogelease H1 financing volume doubles to 73.6 mln euro

Wednesday, September 14, 2016

Romania’s BRD Sogelease said on Wednesday that its first-half financing volume doubled year-on-year, reaching 73.6 million euro ($82.7 million), seenews.com reports. BRD Sogelease's market share increased by one percentage point on the year, reaching 7.7% for the first half of 2016, the company said in a press release. The motor vehicles sector remained the main contributor to growth with a share of 70% of total financing ...

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