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Economic

Agricultural products' state reserve should not be used as a market influencer

Tuesday, June 23, 2020

The state reserve of agricultural products should be used only for the purpose for which it was created, and when operations are necessary to change certain quantities of agricultural products from the state reserve, decisions should be taken in such a way that they do not influence the market, said the president of the Romanian Association of Agricultural Products Traders (ARCPA), Vasile Varvaroi, Wednesday night, at a meeting with the press."The state reserve is ...

Although consumption of regional products prevails, Romanian farmers have large stockpiles

Tuesday, June 23, 2020

Agriculture Minister Adrian Oros on Friday said that, although the emphasis in the case of consuming dairy, beef and poultry was on regional products, Romanian farmers have large stockpiles of the same products, and in Romania's case the proposed measures by the European Commission on private storage do no apply.According to a ministry statement, Oros made his statement during a videoconference with German counterpart Julia Klockner in the context of the upcoming ...

Exports of grain up 42.5pct, January - March 2020

Tuesday, June 23, 2020

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In Q 1 of 2020, Romania exported grains worth 822.4 million euro by 42.5 percent more compared to the same period of last year, according to data centralized by the National Institute of Statistics (INS). On the other hand, imports of grain and grain-based foods amounted to 167.6 million euro (plus 38 percent), resulting in a surplus of 654.8 million euro.Exports of wheat and meslin totaled 329.054 million euro, representing 40 percent of total grain exports, and ...

Romania to have special agency tasked with investigating environmental crimes, including illegal logging

Tuesday, June 23, 2020

The Senate passed on last Tuesday, June 16, the draft law on the establishment of the "DNA for forests" - a specialized agency tasked with investigating environmental crimes in Romania. The project, initiated by Save Romania Union (USR), will now go to president Klaus Iohannis for promulgation. Most senators (119) voted in favor of the bill on Tuesday, while 11 abstained from voting. USR said that the senators who decided to abstain from this vote ...

Romanian retailers no longer required to promote Made in Romania food products

Tuesday, June 23, 2020

Large retailers in Romania are no longer required to allocate distinct shelf space for locally made food products, according to a new law adopted by the Parliament at the end of March and promulgated by president Klaus Iohannis on April 1. The bill (Law 28/2020) also eliminated the obligation of large retailers to acquire at least 51% of the fresh food products they sell (meat, eggs, vegetables, fruits, honey, dairy, and bakery products) from local ...

Infrastructure : Wizz Air announces a new operational base in Bacau; 12 new routes as of October

Tuesday, June 23, 2020

Wizz Air, the low-cost carrier will earmark, as of 29 October 2020, two Airbus A320 aircraft on the airport in Bacau, where it will locate its 31st base and will launch from this location 12 new routes to six countries, a release of the airline company informs."This is the seventh base of the company in Romania and the second in the historic region of Moldavia in Romania, after the one in Iasi. The tickets for the new routes can already be booked on wizzair.com or ...

EU Court of Auditors: Romania is unlikely to have a full highway between Nadlac and Bucharest in 2030

Tuesday, June 23, 2020

A report drafted by the European Court of Auditors (ECA) highlights the significant delays in several major infrastructure projects in the European Union (EU), including the A1 highway in Romania. The motorway, which should connect the capital Bucharest to Romania’s western border, is unlikely to be completed by 2030, according to the report, quoted ...

Cars: Eurostat: Romania has fewest cars per 1,000 inhabitants in EU

Tuesday, June 23, 2020

Romania has the lowest motorization rate among the European Union countries, with 332 passenger cars per thousand inhabitants as of 2018, according to data published by the European Statistical Office - Eurostat. Luxembourg had the highest rate, 676 cars per thousand inhabitants, mainly due to cross-border employees who use the vehicles of companies registered in this country. Italy is next (with 646 cars), followed by Cyprus and Finland (both with 629 ...

Romania's sales of new eco cars down almost 1pct, in first five months of 2020

Tuesday, June 23, 2020

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Romania's sales of new eco cars reached 2,223 units in the first five months of the year, decreasing by 0.80 percent against the same period of 2019, according to the data of the Automotive Manufacturers and Importers Association (APIA).According to the official data, the share of electric and hybrid cars in the total domestic market stands at 5.7 percent, over the level of the similar interval of 2019, when it stood at 3.9 percent.Between January and ...

APIA: 3 pct drop of the auto market in Romania, at five months

Tuesday, June 23, 2020

The automarket in Romania has recorded a drop of 33 pct in the first five months of the year, over the same period of 2019, although at the level of May, through the 8,609 vehicles registered (of which 7,067 cars), a 63.4 pct increase was recorded month-over-month, the analysis published on Monday by the Automotive Manufacturers and Importers Association (APIA) says.According to the statistic, in the January - May 2020 interval, the general rankings on brands ...

Turnover in commerce with vehicles and motorcycles drops 14.7 pct in first 4 months

Tuesday, June 23, 2020

The volume of turnover in vehicle and motorcycle commerce has dropped as gross series by 14.7 pct in the first four months of the current year, compared to the similar period of 2019, the volume of turnover for market services rendered to the population also dropping by 25.4 pct, according to data published on Monday by the National Statistics Institute (INS).Thus, in the mentioned period, the volume of turnover in the retail and wholesale, maintenance and repair ...

Telecom. IT: Romania's internet and data traffic 26 pct up during state of emergency

Tuesday, June 23, 2020

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Romania's internet and data traffic during the state of emergency was on average 26 percent higher compared to the 60 days before the imposition of the restrictions, shows data of the National Communications Administration and Regulation Authority (ANCOM) released on Monday.The specialist analysis shows that during the reporting period traffic on fixed networks increased by 30 percent, mobile network traffic was 5 percent up, while growth in voice traffic was 11 ...

Trade: Online fashion sales in RO to jump from 10% to 25% of total market, post-COVID

Tuesday, June 23, 2020

Customer migration from physical to online retail in the fashion segment has accelerated exponentially during the pandemic and the current crisis. Online sales could thus reach a quarter of the whole fashion market in 2021 from 10% before COVID-19, estimates Robert Berza, CEO of Fashion Days - the fashion arm of local online retailer eMAG. "In China and Germany, we see that a month and a half after the malls' opening, the ...

Tourism : Romanian hotels could recover this autumn; occupancy rates of 50-60% at year-end

Tuesday, June 23, 2020

Romania's hotels could start to recover in the autumn if it restarts during the holiday season, with occupancy rates being estimated at 50% -60% at the end of this year for hotels operated by leading brands, according to a specialist analysis."The hotel industry continues to remain attractive for developers and investors, despite uncertainties in the following period. Strongly affected by the coronavirus generated crisis, many hotel operators are counting on ...

Dentotal opens ibis Styles hotel in Bucharest

Tuesday, June 23, 2020

Romanian group Dentotal, controlled by the Dogariu family, opened, on June 22, a hotel under ibis Styles label, located in downtown Bucharest on Stirbei Voda street. The hotel required an investment of EUR 10 million. This is the group's second project in the hotel sector, after Mercure Bucharest City Center. Ibis Styles is a budget hotel brand focused on in-style stays and owned by French group ...

INS cancels publication of Q1 data on tourist expenses of non-residents in Romania

Tuesday, June 23, 2020

The National Institute of Statistics (INS) announced that it is canceling the publication of the June 17, 2020 press release regarding the tourist expenses of non-residents in Romania related to the first quarter due to the data collection problems during the restrictive measures imposed by the COVID-19 pandemic."The Covid-19 pandemic severely affected the direct collection of data from households by face-to-face interviews, respectively from economic agents ...

Real Estate: Only 40pc of employees back to work in office buildings

Tuesday, June 23, 2020

When will most employees from Bucharest and Cluj companie restart the activity at the office? 3 pc returned in May, 47% in June, 13% are expected to retun in July, 3% in August, 19% in September, 3% in October, 13% in January 2021. With the ease of travel restrictions imposed by the Covid-19 pandemic, companies begin to resume their activity in the headquarters located in office buildings, but ...

Real estate: Stock of industrial and logistic areas in Romania will exceed 5 million square meters this year

Tuesday, June 16, 2020

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The stock of industrial and logistic areas in Romania amounted to 4.66 million square meters at the end of March and will exceed 5 million square meters this year if developers carry out until the end  of the year all projects announced , according to JLL real estate consulting company. In fact, in the first three months of 2020, manufacturing companies were most active in renting industrial and logistic areas. “I have seen new companies ...

Analysis: Investments in new residential properties in Bucharest are the most profitable in Central and Eastern Europe

Tuesday, June 16, 2020

The profit of investments in new residential properties in Bucharest is between 5% and 7%, among the most profitable in real estate markets in Central and Eastern Europe, according to an analysis released by a specialized company. “Compared to markets in Central and Eastern Europe, investments in residential properties in Bucharest are among the most profitable, the profits generated being among the highest. Only Warsaw has superior profits of ...

Real estate investments up 21% in Q1 despite COVID-19

Tuesday, June 16, 2020

The volume of real estate investments in Romania in the first quarter (Q1) increased by 21% compared to the same period last year to EUR 145 million, even in the absence of the expected large-sized deals that were deferred. "The emergency measures were lifted in Romania in mid-May, so we expect to better understand the extent of the coronavirus' impact on the economy and the real estate market at the end of the second quarter," according to real estate ...

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