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Infrastructure: Funds provided for 65 new infrastructure modernisation projects in 33 counties
Tuesday, March 26, 2024
Thirty-three Romanian counties will get funds for 65 new infrastructure modernisation investment projects, with the related contracts totalling RON 774,458,121.60 having been signed on Tuesday by minister Adrian-Ioan Vestea, according to the Ministry of Development, Public Works and Administration.The contracts, signed with some of the project beneficiaries, are designed to upgrade roads of local interest and street infrastructure, setting ...
CNAIR: World Bank interested in fiinancing a series of road projects in Romania
Tuesday, March 26, 2024
The World Bank is interested in financing a series of road projects in Romania, especially in setting up electric and hydrogen charging stations for road transport of goods, according to the general director of the National Company Administering Road Infrastructure (CNAIR) , Cristian Pistol. “During talks held in Washington we decided to organize a bilateral ...
Road transport market reaches 19 billion EUR in 2023, with annual growth rate of 8.5 pct
Tuesday, March 26, 2024
The road transport market reached a value of almost 19 billion EUR in 2023, of which 17 billion was road freight transport, the average annual growth rate of the last 5 years being 8.5%, according to a study by the National Union of Road Hauliers in Romania (UNTRR).According to the source, the road transport sector is Romania's leading exporter of services, with 7.81 billion EUR in 2023, ahead of IT services exports of 7.772 ...
Cars: ACEA: Romanian car market down 8.9 pct in February 2024
Tuesday, March 26, 2024
The Romanian car market recorded one of the largest declines among EU member states in February, according to figures published last Thursday by the European Automobile Manufacturers Association (ACEA).In Romania, 11,339 cars were registered in February 2024, down 8.9% compared to 12,449 cars registered in February 2023.For the first two months of this year, car registrations in Romania fell by 2.6% year-over-year to 24,072 ...
Business in trade of automobiles and motorcycles, slightly up, in January
Tuesday, March 26, 2024
The volume of turnover in the trade in automobiles and motorcycles increased, in January 2024, both as a gross series, by 1%, and as a series adjusted according to the number of working days and seasonality, by 0.5%, compared with the same period of the previous year, shows the data published by the National Institute of Statistics (INS), on Thursday.According to the official statistics, as a gross series, increases were recorded in the trade in ...
Trade: Frames analysis: Retail, main engine of Romanian economy, shows signs of failure
Tuesday, March 26, 2024
Retail trade shows the first signs of crisis, amid the effects of inflation and tax increases, and without measures to support consumption, Romania risks losing its most important engine of economic growth, a Frames analysis informs."The decrease in purchasing power and the accentuation of problems in supply chains, as a result of the measures to cap electricity, gas and basic food, risk leading Romania to a second consecutive quarter of ...
Tourism : Non-resident visitor spending in Romania at RON 2,675 per person in 2023
Tuesday, March 26, 2024
Non-resident visitors to Romania housed in collective tourist accommodation establishments spent in 2023 RON 2,675/person on average, as 50.6 percent of these travelers came to Romania for a private purpose, shows data released on Tuesday by the National Institute of Statistics (INS).According to official statistics, a total of 1.958 million non-resident travelers came to Romania in 2023 and stayed at tourist accommodation facilities, ...
Romania's hotel sector recovers in 2023, thanks to leisure tourism
Tuesday, March 26, 2024
Romania's hotel sector has continued to recover, with sustained growth in leisure tourism, shows a Colliers analysis published Tuesday.The number of Romanian tourists staying in Romania's hotel establishments reached nearly 7 million in 2023, very close to record levels and above the average of the pre-pandemic years, Colliers said.However, in the summer of 2023, air passenger traffic levels surpassed those of 2019, ...
Mercure opens new hotel în Chisinau
Tuesday, March 26, 2024
Accor, a world leading hospitality group, today announces the grand opening of Mercure Chisinau Center Jazz in Moldova. Located in a prime location in the capital’s city centre, the new hotel features jazz-inspired interiors and a wide range of amenities to provide guests with a warm and comfortable stay in the heart of Chisinau. Mercure Chisinau Center Jazz boasts 74 ...
Real Estate: Office building administration and maintenance costs might grow by an average of 13% in 2024
Tuesday, March 26, 2024
Administration and maintenance costs for office buildings from Colliers Romania portfolio grew by 9% last year compared to 2022. In 2024 costs are estimated to grow by 13%, according to an analysis made by the real estate consulting company. Higher costs for services in general, on the background of higher salaries, and an improved presence of employees in 2023 were factors that generated that ...
Agriculture: Poultry meat production advances 5.2pct in January 2024
Tuesday, March 19, 2024
Romania's poultry meat production increased in January 2024 by 5.2%, y-o-y, and by almost 16% on a monthly basis, to 48,002 tonnes, according to data with the National Institute of Statistics (INS) published on Monday.Statistics show that 28.383 million fowls were slaughtered in January 2024, up both from January 2023 and December 2023.Beef production totalled 7,402 tonnes of carcass weight in January 2024, slightly down 0.9% y-o-y and 0.6% on a monthly ...
Real Estate: Permanent dwellings completed in Romania decline by 1,878 units in 2023
Tuesday, March 19, 2024
The number of permanent dwellings completed in Romania in 2023 reached 71,454 units, down 1,878 from 2022, show data published by the National Institute of Statistics (INS) on Tuesday.By residence areas, in 2023 compared to 2022, there is a decrease in the share of dwellings completed in rural areas (from 45.3% in 2022 to 39% in 2023) and an increase in urban areas (from 54.7% in 2022 to 61% in 2023).The distribution of funds for dwellings completed reveals that ...
Report: The supply of new housing decreases in Bucharest
Tuesday, March 19, 2024
The number of homes that will be delivered in Bucharest and its surroundings in 2024 may decrease significantly. Thus, around 17,500 houses and apartments are expected to be delivered by investors this year in the region, which would translate into a 16.5% drop in new supply. Just over 21,000 new homes were delivered in Bucharest and Ilfov in 2023, according to data from the National Institute of Statistics, down 1.3% ...
Bucharest is one of the European cities with the lowest housing prices
Tuesday, March 19, 2024
Bucharest ranks among the major European cities with the lowest housing prices and the highest affordability ratios, according to data from the Cushman & Wakefield Echinox real estate consultancy company. The expected increases in wages as a result of the positive economic developments and also the easing of financing conditions are likely to favor house prices’ increases, a trend which will probably start manifesting itself in a more ...
Schrack Technik invests €15M in new office & logistic hub near Bucharest
Tuesday, March 19, 2024
Schrack Technik Romania, the subsidiary of the Austrian group Schrack Technik GMBH, a player in the low-voltage electrical equipment market, has kicked off the investment of over 15,000,000 Euros in the construction of a new logistics and office center, the company announced. The project involves a warehouse of 5,500 m.p. (with the possibility of storing more than 5,000 pallets) and an office space of 3,500 m.p., level P+2. The buildings will be ...
Infrastructure: Romania OKS $1.2B Constanta Port expansion
Tuesday, March 19, 2024
The Government of Romania has given its approval for an important infrastructure project aimed at enhancing the southern sector of Constanta Port on the Black Sea. This decision was made following a proposal by the Ministry of Transport to develop new terminals, access roads and utilities in the region. According to Transport Minister Sorin Grindeanu, the project is estimated to cost a total of around €1.12 billion ($1.22 ...
Greece-Bulgaria-Romania trilateral meeting on establishing transport corridor
Tuesday, March 19, 2024
Ministers from Greece, Bulgaria and Romania held a working meeting in Sofia on Thursday to discuss the development of a transport corridor which will start from the port of Alexandroupolis and end in ports of the Black Sea and the trade routes of the Danube, through Bulgarian https://www.ekathimerini.com/ ...
Cars: ACAROM: 2.6% drop of new cars registrations in Romania in first two months, 2024
Tuesday, March 12, 2024
Registrations of new cars in Romania dropped by 2.6% in the first two months of the year, compared to the same period of 2023, according to centralized data of DRPCIV, quoted by the Association of Automobile Builders in Romania (ACAROM). According to the source, in February 2024, new car registrations dropped by 8.92% against the same period of 2023, to a volume of 11,339 ...
Electric cars in Romania register growth of 26%, reaching market share of 24% in 2023, consultants say
Tuesday, March 12, 2024
Electric cars in Romania registered a 26% increase last year, reaching a market share of 24% in 2023, and the use of uniform data practices is essential to increase user satisfaction and to encourage widespread adoption, said Mihai Draghici, Partner, Consultancy, EY Romania."The future of e-mobility depends on sharing and standardizing data collaboratively, encouraging interoperability and value creation. With over 75 million electric vehicles designed in ...
Real Estate: Study: One out of three Romanians living in urban environment rents or shares a home
Tuesday, March 12, 2024
One out of three Romanians living in the urban environment rents or shares a home that they do not own together with their parents, relatives or friends, but the interest in purchasing a property remains high, according to a recent study conducted by Unlock Market Research for Colliers."Romania remains the European country with the most owners of houses and apartments, according to official statistics, and although the interest in purchasing a property ...