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Economic

Tender for the feasibility study for the Targu Mures-Iasi-Ungheni motorway will be launched by the end of 2016

Tuesday, November 22, 2016

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Prime Minister Dacian Ciolos assured that the tender for the feasibility study and the engineering project for the Targu Mures-Iasi-Ungheni motorway will be launched by the end of the current government's term in office. Ciolos said on Friday, at the end of a meeting with Iasi businesspeople, that he hopes the procurement procedure is completed until next summer. "We are preparing the launch of this project by the end of this government's ...

Minister Buse: another 15 kilometers of highway will be inaugurated in 2017

Tuesday, November 22, 2016

Transport Minister Petru Sorin Buse stated on Friday that until the end of this year another 15 kilometers of highway will be inaugurated, and the next year the figures will rise to 150 kilometers. "This year another 15 kilometers of the Lugoj- Deva highway will be opened, around 15 December. I was there, the works are in an advanced state. For 2017 we are talking about 150 kilometers of highway, namely the Lugoj-Deva, Sebes-Turda section, and additionally 26 ...

Real Estate: Prices of homes remained stable in the last year

Tuesday, November 22, 2016

 Prices of homes remained stable in the last year, and the stability trend might be kept in the following two or three years, Managing Partner at ESOP Consulting/ CORFAC International Alexandru Petrescu, who is currently attending the Bucharest Real Estate Showroom (SIB) said on Friday."Prices remained stable this year. There weren't any large fluctuations, nor high increases and neither high declines. They remained on the mass market segment, somewhere to ...

Tourism: Number of foreign tourists grew by 20% in 2016

Tuesday, November 22, 2016

The number of foreign tourists who visited Romania this year amounts to about 1,3 millions, which represents an increase of about 20% compared to 2015, the vice-president of the Federation of Patrons in Romanian Tourism (FPTR), Gheorghe Fodoreanu declared on Tuesday. Most tourists are from Germany, followed by France, England, Italy and Spain, the increase estimated for this year in the field is considered “impressive” in past years, when ...

Number of tourists spending holidays in Romania has grown by 65% in last five years

Tuesday, November 22, 2016

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The number of Romanian and foreign tourists who spend their holidays in Romania has grown by 65% in the last five years, exceeding ten millions and in 2016 the biggest development of the last ten years will be registered, according to a BIBI Tourism Touroperator press release. “For 2016 we estimate an increase of over 30% of the market compared to the previous year,”said Adrian Voican, general manager of BIBI Touring ...

Romania has to be placed back on the world map of tourism

Tuesday, November 22, 2016

Romania has to be placed back on the world map of tourism, as it once was, but to do that Romanians believing in sacrifices are needed, Chairman of the Federation of Romania's Travel Employers (FPTR) Mohammad Murad told the 2016 edition of the Romanian Travel Gala. "It is a great pleasure being in the service of the country. Romanians are needed who believe in sacrifices and hard work, who believe the future is on their side. We want to take stock of the good ...

Agriculture: Iohannis promulgates law on food waste

Tuesday, November 22, 2016

Romanian President Klaus Iohannis promulgated the law on food waste, which provides that companies need to donate or sell at lower prices the food products that are close to expire. The bill imposed sanctions of up to RON 10,000 (EUR 2,200) for the companies that will not respect the ...

Romania continues to import wheat processed products at record high pace

Tuesday, November 22, 2016

In 2015/16 (July-June) Romania imported 140 KMT of wheat flour, which was 3% higher than in the previous season, despite a 6% rise in wheat crop compared to 2014/15, ...

Value of food imports up 11% compared to last year

Tuesday, November 22, 2016

The difference in value between Romania's imports and exports of food products reached almost 500 million Euro, freshplaza.com reads. This is 7 times more than in the same period last year. The situation is even more worrying considering that the situation in 2013 and 2014 was exactly the opposite, with more local food sold than imported products. In the first 7 months of this year, Romania imported food worth 3.5 billion Euro; this is 11 percent more ...

Cars: Dacia sales dropped by 1.9% in October

Tuesday, November 22, 2016

Sales of Dacia cars recorded a drop of 1.9% in Europe (EU plus EFTA), the car manufacturer’s market share being 2.6%, according to statistics of the European Automobile Manufacturers Association (EAMA) published on Thursday. 29,269 Dacia cars were registered in Europe last month compared to October 2015 (29,847 units). The French groups Renault and PSA Peugeot Citroen ...

115,000 new vehicles were sold in Romania in the first 10 months of 2016

Tuesday, November 22, 2016

Almost 115,000 new vehicles were sold in Romania in the first 10 months of the year, a figure by 17.5 percent higher from the same period of 2015, while the domestic car production diminished by 8.3 percent to 301,538 units, reveals data of the Automotive Manufacturers and Importers Association (APIA) released on Thursday. According to the statistics, in the interval January - October, of the more than 301,000 new vehicles produced in Romania, 266,590 were ...

Healthcare: Romania is the second country in Europe for antibiotic consumption

Tuesday, November 22, 2016

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Romania is the second country in Europe for the consumption of antibiotics with 600,000 Romanians undergoing such a treatment, Gabriel Popescu, councillor of the health minister declared on Friday at a press conference. “There is a direct connection between the consumption of antibiotics and bacteria resistance. The higher antibiotic consumption is , the more the bacteria resistance to antibiotics. This year we made more steps to limit the size ...

Infrastructure : CFR SA and the European Commission signed a funding contract worth a total 440 million euros

Tuesday, November 15, 2016

Romania's national passenger railway carrier CFR SA and the European Commission - via its Innovation and Networks Executive Agency (INEA) have signed a funding contract for the upgrading of the Apata-Cata railway portion worth a total 440 million ...

Cars: New cars registered in Romania this October advanced 4.02 percent

Tuesday, November 15, 2016

  The number of new cars registered in Romania this October advanced 4.02 percent to 11,084 units, compared with the same period of 2015 according to the Driving Licences and Car Registrations (DRPCIV). In the ...

In September 2016 the turnover of the trade with motor vehicles increased by 23.8%

Tuesday, November 15, 2016

Compared to the previous month, in September 2016, the turnover of the trade with motor vehicles and motorcycles increased both as gross series by 10.7% and as adjusted series according to the number of working days and to seasonality increased by 3.5%. The turnover of the market services provided to the population decreased compared to the previous month as gross series by 4.5% and increased as adjusted series according to the number of working days and to ...

Used cars registered in Romania in the first ten months of 2016 reached 250,800 units

Tuesday, November 15, 2016

The number of used cars registered in Romania in the first ten months of 2016 reached 250,800 units, a 22.79 percent increase when compared to the similar period of last year, according to the statistics of the Driving Licences and Car Registrations Directorate ...

Real Estate: Trends on Romanian property market: High-class homes becoming more popular

Tuesday, November 15, 2016

A new residential project is being kick started north of Bucharest some ten years after its owners first bought the land, and is intended to ride the wave of Bucharest’s growing segment of premium housing, business-review.eu reads. Loreco Investments is a new entry on the local real estate market, yet it has recently announced ambitious plans for the years to come. The company is owned by Rey Muraru and Lorna and Colin Jackson, all new names in ...

GIC takes over P3, which has the biggest logistics park in Romania

Tuesday, November 15, 2016

The Singaporean sovereign wealth fund GIC will buy P3 Logistics Parks, which also has investments in Romania, in a deal worth EUR 2.4 billion, business-review.eu informs. P3, which is one of the biggest owners, developers and administrators of logistics assets across Europe, will be acquired by GIC from TPG Real Estate and its partner Ivanhoé Cambridge. The sellers had taken over P3 in 2013. Since then, the group has ...

Offices and industrial spaces demand has exceeded in Romania the level from 2015, says JLL

Tuesday, November 15, 2016

The leasing activity on the Romanian offices, industrial and logistics markets registered significant changes in the first nine months of this year compared with 2015, according to JLL Romania quoted by business-review.eu. On the office markets, the leasing volumes in the first nine months have exceeded the level of the entire last year, over 45 percent of the transactions volume being represented by new contracts. “The ...

Telecom. IT: Telekom Romania's fixed, mobile revenues slide in Q3

Tuesday, November 15, 2016

Revenues from Telekom Romania's fixed-line operator division grew 3.9 percent to EUR 149.1 million in Q3 primarily reflecting the company’s successful Fixed-Mobile convergent (FMC) platform, and higher wholesale revenues, telecompaper.com reads. Service revenues decreased by 0.9 percent to EUR 258.1 million. Compared to Q3 2015, fixed voice revenues continued to decline by 13 percent, broadband revenues were down 1 percent, while TV revenues ...

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