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Adrian Vasilescu (BNR): The discourse about the taxing of multinationals is a populist one

Wednesday, April 19, 2017

Adrian Vasilescu, strategy advisor with the BNR stated on Sunday that the discourse about the taxing of the multinationals is a populist one, but there is  a European directive underway in this sense. ‘The multinationals are part of the export of Romania and  they are among the first 1000 companies out of the 700 000 as there are in Romania. It is a populist discourse’ stated on Sunday in a televised show with Digi 24 Adrian ...

Romania's EximBank backs Electrogrup with 11 mln euro loan

Wednesday, April 19, 2017

Romania's EximBank said on Tuesday it has reached an agreement to lend 11 million euro  ($11.7 million) to Electrogrup, a local company active in energy infrastructure, telecommunications and civil engineering areas, renewablesnow.com reads. The financing package includes a multi-product facility for the working capital needed for running the business and a guarantee facility that will be used for participating in an investment project in Poland, ...

Romanian dairy producer Albalact delists from Bucharest bourse

Wednesday, April 19, 2017

The shares of Romanian dairy producer Albalact [BSE:ALBZ], part of French group Lactalis, were withdrawn from trading on the Bucharest Stock Exchange (BVB) on Tuesday, marking the delisting of the company from the bourse, seenews.com reports. In November 2016, Albalact's shares were suspended from trading on the BVB following the takeover of the company by Lactalis for 340 million lei ($80 million/75.1 million ...

Diverta network reaches 28 stores in Romania

Wednesday, April 19, 2017

Starting this month, the retail chain Diverta has a new store, following the opening of the second store in Piatra Neamt, in the Shopping City Piatra-Neamt. Following the latest opening, the Diverta reached 28 centers at national level, business-review.eu reports. The new store has a surface of 113 sqm. The Diverta offer comprise books, toys, stationary for school and office, having a portfolio of 9,000 ...

Autoliv to open engineering center in Romania's Iasi

Wednesday, April 19, 2017

Sweden-based car safety equipment maker Autoliv said on Thursday it is planning to open an engineering center in Romania's eastern city of Iasi in the second half of the year, seenews.com reads. Initially, the new engineering center will employ 100, but the company expects to increase the number of employees to 200 in three years, Autoliv said in a statement, without announcing the amount of the investment. The Iasi center will ...

PM Grindeanu: Insolvency seems to have become national sport; I asked relevant authorities to come up with analysis

Wednesday, April 19, 2017

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Prime Minister Sorin Grindeanu has asked the Finance Ministry and the National Tax Administration Agency (ANAF) to come up, by May 15, with a careful analysis of the state of affairs over the past years regarding the filings for insolvencies so as to draw up measures that will lead to a decrease in what he said seems to have become a national sport. "The 14 ...

H&M opens 54th store in Romania

Wednesday, April 19, 2017

Swedish fashion retailer Hennes & Mauritz (H&M) said on Wednesday it has opened a new store in Romania, in the northeastern city of Piatra Neamt, seenews.com reports. The 1,100 sq m store is located inside the Piatra Neamt Shopping City and is H&M's 54rd outlet in Romania, the retailer said in a press release. H&M sales in Romania increased by 14% year-on-year to 532 million Swedish crowns ($60 million/57 million ...

Adrian Vasilescu (BNR): The discourse about the taxing of multinationals is a populist one

Wednesday, April 12, 2017

Adrian Vasilescu, strategy advisor with the Central bank - BNR stated on Sunday that the discourse about the taxing of the multinationals is a populist one, but there is  a European directive underway in this sense. ‘The multinationals are part of the export of Romania and  they are among the first 1000 companies out of the 700 000 as there are in Romania. It is a populist discourse’ stated on Sunday in a televised show with Digi ...

Immofinanz had incomes from rent of 31.4 million euros in Romania in May-December 2016

Wednesday, April 12, 2017

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Immofinanz , one of the most important players in the Romanian real estate market, reported incomes from rents of 31.4 million euros in May-December 2016, which represent 20.1% of incomes from overall rentals at group level, according to data reported by the group on Friday. The company does not have comparative data for the same period of 2015, because it changed the way of reporting financial results. Between May and December 2016, the group reported ...

German company B. Braun to expand business in Romania

Wednesday, April 12, 2017

German company B. Braun, one of the most important worldwide suppliers in the field of medical products, will kick off a new greenfield-type investment, which will include a perfusable solutions plant and the construction of a scientific research and development centre, and of a logistics centre respectively, reads a press release of the Ministry for Business Environment, Trade and ...

Astaldi in €776 million Romanian joint venture

Wednesday, April 12, 2017

An Astaldi-led consortium has been awarded two new contracts worth €776 million, to carry out work on the Frontiera-Curtici-Simeria railway line in Romania – part of the Pan-European Corridor IV, a transport corridor that runs from Dresden and Nuremberg in Germany to Thessaloniki in Greece, Constanta in Romania and Istanbul in Turkey, khl.com informs. The contract includes lots 2A and 2B, where rehabilitation and stabilisation work will need ...

Pizza Hut Delivery launches franchising program in Romania

Wednesday, April 12, 2017

Pizza Hut Delivery has launched a franchising program in Romania, as part of its development strategy in Romania, Business Review reports. The company aims to open new locations in the big cities of the country and reach 30 units in the next three years. The acquisition price of a franchise Pizza Hut Delivery is EUR 25,100 and the average cost for opening a location is approximately EUR 200,000 depending on the location surface and placement. The sum ...

Avicola Crevedia, put up for sale

Wednesday, April 12, 2017

The farms and factories of Avicola Crevedia, part of Agroli group, have been put up for sale, together with the company’s headquarters via a Dutch public tender, reports ...

Ford starts recruiting close to 1,000 people in Romania

Wednesday, April 12, 2017

American car maker Ford has kicked off a massive recruitment campaign in Romania, business-review.eu informs. The company will create 976 new jobs at its plant in Craiova, southern Romania, where it manufacturers the B-max model and the engine 1.0 EcoBoost. The company will make in Craiova the small-SUV model EcoSport, which required additional investments of EUR 200 million. In total, Ford has invested EUR 1.2 billion in its Romanian ...

Romania's Libra Internet Bank profit rises 35% in 2016

Wednesday, April 12, 2017

Romania's Libra Internet Bank said on Wednesday it posted a 32.5 million lei ($7.6 million/7.1 million euro) net profit in 2016, up 35% from the previous year, seenews.com informs  Net assets rose 41% to 3.39 billion lei, the bank said in a press release. Deposits reached 3.04 billion lei, up by 38% on the year, while loans amounted to 2.09 billion lei, up 60% on the year. The bad loans ...

DNA Ploiesti asked ban on the dissolution or liquidation of companies SC Asesoft International and SC Teamnet International SA

Wednesday, April 12, 2017

Prosecutors of the National Anticorruption Directorate (DNA) Ploiesti branch asked the Prahova Tribunal, as a preventive measure, to instate a 60-day ban on the dissolution or liquidation of companies SC Asesoft International and SC Teamnet International SA, controlled by controversial politician and businessman Sebastian Ghita, or - where appropriate - to suspend ...

JLL’s transactions with industrial spaces of 100,000 sqm in Q1

Wednesday, April 12, 2017

JLL intermediated transactions with industrial and logistics spaces of 100,000 sqm overall in the first quarter, for companies such as Profi, NOD, Tibbett Logistics, KLG and Kuehne + Nagel, business-review.eu informs. The most important intermediations as leasable surface was the rental of 30,000 sqm by Profi in Roman and by NOD of 30,000 sqm in Bucharest. As a result, the Belgian developer WDP is building a new warehouse ...

Romanian Post Service will get a capital injection of 170 million lei

Wednesday, April 5, 2017

The Romanian Post Service will get a capital injection of 170 million lei, Communications Minister Augustin Jianu told a specialist conference on Tuesday, adding that the service's fortunes can improve by providing parcel and financial services. "The Romanian Post has a phenomenal potential, especially as far as the parcel market is concerned. The Post has proved it can and it has indeed run on a profit teamed up with eMag. In order to benefit the most, we ...

Minister Petrescu: prevention law tries to eliminate the perception of invasive control

Wednesday, April 5, 2017

The prevention law tries to eliminate the perception of invasive control, this being the first step towards the next stage, which is the trust stage, Minister for Business Environment, Trade and Entrepreneurship Alexandru Petrescu stated on Tuesday at the forum regarding the "Start-Up Nation- Romania" Programme. "The Prevention Law tries to eliminate the perception of invasive control. It tries to eliminate the individual who sits in front of your business ...

CCIR vicepresident, Vasile Bar: Private business worried by salary increases in public sector

Wednesday, April 5, 2017

Vasile Bar, the vicepresident of Romania’s  Chamber of Commerce and Industry (CCIR), who is also president of Chamber of Commerce and Industry Bistrita Nasaud, declared on Thursday at a press conference that private businesses worry about salary increases granted in the state budget system,” because an exodus had started from the private to the state sector, where salaries are two or three times higher than in the private ...

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