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Orange Romania launches new tariff plans for SMEs

Wednesday, May 3, 2017

Orange Romania launched new Business Mobile and Orange Pro subscriptions for small and medium businesses, telecompaper.com reports. Customers can choose between various Pro tariff plans which include unlimited on-net minutes, ...

S&P upgrades Romania's RCS & RDS to 'BB-'; stable outlook

Wednesday, May 3, 2017

Standard & Poor's Ratings Services said on Wednesday it has upgraded Romanian telecommunications operator, RCS & RDS and its parent company Digi Communications N.V.  long-term corporate ratings to 'BB-' from 'B+', with stable outlooks, seenews.com reads. S&P last reviewed RCS & RDS and Digi Communications N.V.in October 2016, when it upgraded outlook to positive from stable, affirming the 'B+' long-term corporate credit rating. "DIGI Communications N.V. ...

Coface: Financial losses caused by insolvencies reach highest level

Wednesday, April 26, 2017

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Losses of Romanian companies, caused by insolvencies have reached a historic high level, although 2017 started with a historic low level of the number of insolvencies, according to a study published on Tuesday by the national company of credit insurance Coface. From the Coface analysis, made according to data supplied by the Insolvency Procedure Bulletin, 1,753 new insolvency procedures opened in the first quarter of the ongoing year, on the drop by ...

Romanian operator 2K Telecom's debt reaches RON 73 mln

Wednesday, April 26, 2017

Romanian communications company 2K Telecom, which went into insolvency earlier in 2017, owes over RON 73 million to  writes local paper Ziarul Financiar citing a report created by the judicial services company CITR Ilfov. Of these, RON 43 million are owed to ZTE, telecompaper.com reads. 2K Telecom ...

Alstom-Aktor-Arcada consortium wins Romanian railroad upgrade tender

Wednesday, April 26, 2017

A consortium comprising Alstom Transport, Aktor and Arcada has won a 1.5 billion lei ($353 million/330 million euro) tender for upgrading sections of Romanian railways network, state-owned railway infrastructure operator CFR said on Friday, seenews.com reads. Funding for the rehabilitation of a section of the railroad Ilteu and Gurasada and a section between Gurasada and Simeria is provided from non-reimbursable funds and from the state budget, CFR ...

Romanian operations generate 73 pct of RCS&RDS revenues

Wednesday, April 26, 2017

Seventy three pct of RCS&RDS’s revenues are generated by its Romanian operations, 16 percent by Hungary, 10 percent by Spain and one percent by Italy, business-review.eu reports. The operator added 678,000 new contracts locally in 2016, reaching over 10.1 million internet, TV, fixed and mobile telephone contracts, according to the information transmitted by the investors of Digi Communications, the mother company of ...

EUR 19.038 million allocated for Small and Medium-Sized Enterprises this April

Wednesday, April 26, 2017

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The Government has decided to temporarily allocate EUR 19.038 million for ensuring the funding necessary for April of the Management Authority of the Operational Programme Initiatives for Small and Medium-Sized Enterprises, reads a release sent on ...

Olympus Romania appoints Athanasios Giannousis as commercial director

Wednesday, April 26, 2017

Olympus Romania, one of the major players on the local dairies market, appoints Athanasios Giannousis as commercial director, leading the development plans of the company in Romania, business-review.eu informs. Giannousis replaces Ilias Pliatsikas, which will continue to be part of the Olympus-Tyras group in Greece. Giannousis has over nine years of experience in the international FMCG industry, having held ...

Pfizer opens a regional logistics service in Romania

Wednesday, April 26, 2017

The new center, also named Above Market Planning (AMP) Hub, will be headquartered in Bucharest and will provide a more straightforward and more direct means of communication between markets in Europe and Pfizerproduction units all over the world, business-review.eu reports. Pfizer Romania will complete, most probably by the end of the second quarter of the year, the development of a regional support ...

Continental Romania completes Timisoara plant expansion

Wednesday, April 26, 2017

German automotive parts supplier Continental said on Wednesday it has completed an expansion of its electronic components plant in Timisoara county, western Romania, following a 12 million euro ($12.7 million) investment, seenews.com reports. The expansion project, announced a year ago, has added 5,000 sq m of production and warehousing area and another 2,200 sq m of offices to the facility, Continental said in a statement. The ...

USA's PHI to partner with Romania's Maxagro, mulls acquisition

Wednesday, April 26, 2017

US-based PHI Group, a company focused on acquisitions and investments in natural resources, energy and agriculture, said on Wednesday it will partner with Romania-based Maxagro Group and may acquire a majority stake, seenews.com reads. PHI Group and Maxagro signed a memorandum of understanding to develop an organic farming programme in Timis county, in western Romania, PHI said in a statement. The memorandum also envisages that PHI Group will consider ...

Bulgaria’s Nedelya to add 16 pastry shops in Romania, to enter Austria, Hungary

Wednesday, April 26, 2017

Bulgarian cake confectionery chain Nedelya said on Wednesday it plans to add 16 pastry shops in neighbouring Romania to the existing 5 there during the next 12 months, seenews.com informs. The company also intends to open pastry shops in Austria and Hungary as part of its expansion plans, Nedelya said in a statement. The first location outside Bulgaria and Romania will probably be Vienna, Nedelya ...

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 ...

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