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TRENDS IN THE EVOLUTION OF THE ECONOMIC  ACTIVITY IN THE PERIOD FEBRUARY ? APRIL 2017

Wednesday, March 1, 2017

Moderate growth of activity in manufacturing, constructions and services Tendency of moderate decrease in the number of employees in retail trade Moderate growth of prices in industry, constructions and&n ...

JLL Romania appoints Silviana Badea as Managing Director

Wednesday, March 1, 2017

Silviana Badea was appointed Managing Director of JLL Romania, a position she will occupy starting 1 March 2017. Badea joined JLL Romania in 2015, as head of Capital Markets, business-review.eu informs. During this period, Badea contributed to the expansion and evolution of the team, but also of the range of services offered to clients. In the past two years, JLL operations in Romania were conducted by Andrew Peirson, who, in ...

Fairfax gets EC approval to buy AIG's Romanian, Bulgarian business

Wednesday, March 1, 2017

The European Commission said on Tuesday it has approved the acquisition of the insurance business of the American International Group (AIG) in Bulgaria and Romania by Canada-based Fairfax Financial Holdings, seenews.com reports. "[...] the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement," the Commission said in a filing. In ...

Reuters: Greek retailer Jumbo six-month profit up 12 pct on strong foreign growth

Wednesday, March 1, 2017

Jumbo, Greece's biggest listed toy retailer, posted on Tuesday a 12 percent rise in net profit for the six months to December last year, thanks to a double-digit percentage growth in Bulgaria and Romania, Reuters reports. Net profit for the six-months came in at 81.4 million euros, up from 72.5 million euros in the year ago period. Jumbo has fared well thanks to its low-cost ...

RDI public spending may increase in stages to 1 percent of GDP by 2020

Wednesday, March 1, 2017

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The targets in Romania's National Research, Development and Innovation ...

COTAR: to set up a joint taxi dispatch office managed by the municipality is a form of nationalizing operating private businesses

Wednesday, March 1, 2017

The decision of the Bucharest City Hall (PMB) to set up a joint taxi dispatch office managed by the municipality is a form of nationalizing legally operating private businesses that will generate chaos in the market and will produce unemployment, representatives of the Confederation of Licensed Romanian Operators and Hauliers (COTAR) said ...

Romanian Post National Company had gross profit of 12.3 million lei in 2016

Wednesday, February 22, 2017

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The Romanian Post National Company recorded in 2016 gross profit of 12.3 million lei. That was possible thanks to a continuous, sustained effort of stimulating increase and diversification of incomes obtained by the company in 2016, correlated with a lower level of overall preliminary expenses, a company press release shows. 2016 incomes were 1,124,093 million lei, 1.9% higher than in 2015, when they were 1,102,975 million ...

Romanian healthcare services provider Regina Maria invests 2 mln euro in expansion

Wednesday, February 22, 2017

Romanian private healthcare services provider Regina Maria said on Monday it has invested 2 million euro ($2.1 million) since the beginning of 2017 in a new polyclinic in Bucharest and in the acquisition of local peers Al-Medica Berlin and Ixia Medical,seenews.com reads. Regina Maria opened a new clinic in the central area of Victoria Square in Bucharest and plans to open another one in the northern part of the city, the company said in a press ...

Romania's eMAG acquires minority stake in IT firm Zitec

Wednesday, February 22, 2017

Romanian online retailer eMag said on Friday it has invested 1.7 million euro ($1.8 million) in Romanian software company Zitec, acquiring a minority stake in the company, seenews.com informs. Zitec will use the capital infusion to increase its headcount, to expand into other cities in Romania and to create a department dedicated to European funds and grants, it said in a press release. Also, the company aims to grow its client portfolio in Western ...

Ryanair targets 40% rise in passenger numbers on Romanian routes in FY 2018

Wednesday, February 22, 2017

Irish low-cost air carrier Ryanair aims to connect Bucharest with all top European business capitals and expects to carry 40% more passengers to and from Romania in fiscal year 2018, sales and marketing  executive for Central and Eastern Europe Denis Barabas said for seenews.com. With 13 new routes in the pipeline for 2017 summer season, Ryanair expects to carry some 2.6 million passengers to and from the four airports which it operates in ...

WIZZ AIR ANNOUNCES UK BASE AT LONDON LUTON THREE NEW ROUTES TO OPERATE FROM JUNE 2017

Wednesday, February 22, 2017

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 Wizz Air, the largest low-cost airline in Central and Eastern Europe, announced în a press release sent to ACTMedia that it will open its 28th base on 18 June 2017 at London Luton Airport in the United Kingdom with one new Airbus A320 aircraft. London Luton has operated Wizz Air flights for over twelve years; this will be the airline’s first UK airport with base operations. Establishing this base will strengthen Wizz Air’s ...

UPC Romania adds 48,000 RGUs in Q4

Wednesday, February 22, 2017

UPC Romania had 2.887,700 million homes passed in Q4, higher by 76,300 compared to the previous quarter, telecompaper.com informs. The number of two-way homes passed grew by 86,000 to 2.838 million. The total number of customer relationships rose 36,600 to 1.296 million and total revenue-generating units (RGUs) rose 47,800 to 2.274 million. UPC Romania's number of analog TV subscribers fell by 8,700 to 263,400, while its number of digital TV ...

Bayer appoints new Crop Science Country Division Head for Romania, Bulgaria & Moldova

Wednesday, February 22, 2017

Bayer has appointed Pascal Cassecuelle as the new Crop Science Country Division Head for Romania, Bulgaria & Moldova, business-review.eu informs. Cassecuelle took over as of February 1st, from outgoing country head, Hernan Mora, who will continue his activity in Argentina. Pascal Cassecuelle is 47 years old, a graduate of Paris Business School (ESCP-EAP). Having started in sales in France, Pascal assumed various country and global leadership ...

168 million euro business figure at Oltchim

Wednesday, February 22, 2017

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Oltchim Ramnicu Valcea chemical plant reported a business figure of 168 million euros in 2016, almost the same level as in the previous year and loss of 2.5 million euros, according to preliminary data supplied by BVB on Wednesday (Bucharest Stock Exchange). “Although sold output has significantly grown in quantity, the business figure obtained in 2016 - 168 million euros- is about the same as in 2015, because of lower sales prices of finished ...

Alro reports a preliminary adjusted net profit of more than RON 100 million, in 2016

Wednesday, February 22, 2017

Financial and operational highlights : Turnover of RON 2.1 billion, compared to RON 2.3 billion in 2015 Operating profit of RON 170 million, compared to RON 157 million in 2015 Primary aluminium sales of 154,000 tonnes, compared to 145,000 tonnes in ...

Transelectrica ended 2016 with a net profit down 20.7 pct from the year before

Wednesday, February 22, 2017

 National power grid company Transelectrica ended 2016 with a net profit of 285.511 ml lei, down 20.7 pct from the year before, according to provisional financial data for the reporting period ending December 31, 2016 sent to the Bucharest Stock Exchange. Company revenues amounted to 2.722 bln lei, 8.76 pct lower from 2015. Electricity transmission was the major source of revenues, with 1.146 bln lei, while revenues from system services amounted to ...

Airbus Helicopters to make a Romanian center of excellence for production of H215 aircraft

Wednesday, February 22, 2017

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Airbus Helicopters, which inaugurated last year the new helicopter plant from Ghimbav, Brasov, for an EUR 52 million investment will make Romania a center of excellence for the production of H215 aircraft, said Olivier Michalon, senior vice president for Europe region at Airbus Helicopters on Tuesday to ...

Direct One closes the acquisition of Netcity Telecom

Wednesday, February 22, 2017

Direct One S.A. has closed its acquisition of Netcity Telecom, the operator of the underground fiber optic infrastructure network of Bucharest from its former owners – UTI Netcity Investments BV and UTI Grup SA. The Netcity acquisition ends a process started in 2015 by Direct One, an independent and neutral provider of fiber optic infrastructure. The acquirer, part of Electrogrup group of companies, which is controlled by the Romanian entrepreneurs Teofil Mure?an and ...

FDI into Romania rises to post-crisis high

Wednesday, February 15, 2017

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Foreign direct investment (FDI) into Romania increased 18% last year, reaching 4.08 billion euro ($4.3 billion) - its highest value since 2008, the central bank, BNR, said on Monday, seenews.com informs. Equity investment amounted to 3.899 billion euro and inter-company lending recorded a net value of 182 million euro in 2016, the BNR said in a statement citing provisional data. FDI into Romania totalled 9.5 billion euro in ...

Romcab files for insolvency

Wednesday, February 15, 2017

Romanian cables and electric conductors manufacturer Romcab [BSE:MCAB] said on Monday it has filed for insolvency in order to come up with a plan for recovery. "After exhausting other options to weather the difficult times in which we find ourselves, we inform you of our intention to initiate proceedings for judicial reorganization as the solution we have identified for the recovery of Romcab's business in an efficient and effective manner," Romcab ...

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