June 2006

Alpha Bank Romania, Banca Romaneasca, Piraeus Bank, Romania, Volksbank Romania and Banca Transilvania have requested the Competition Council to grant them the benefit of an individual exception in...

Vodafone Romania yesterday announced the opening of its third Call Centre, in the city of Ploiesti. The new Call Centre will be operational this autumn, in a modern...

Romania has a considerable growth potential, which differentiate it from neighbouring countries, consider 42 percent of the respondents of an opinion poll conducted March 12 - April 22,...

The trade deficit with agro-food products reached 734.4 million euros over the first five months of the year, a 33.1 percent increase (182.6 million euros) as against the...

Clifford Chance, the world?s largest law firm, and Cerha Hempel Spigelfeld Hlawati, seen as one of the best in Austria, have recently announced their association...

The minister of economy and trade required ISPE to review the six variants regarding the restructuring of Termoelectrica and to take into consideration the fusion with Hidroelectrica after...

The Competition Council issued a non- intervention decision in the case of the takeover of Quadrant Amroq Bottling, producer and distributor of Pepsi drinks in Romania by Pepsi...

Duty free shops located at naval or terrestrial border checks will be obliged to end their activity in 90 days at the most while duty free shops in...

The government authorized the Authority for the Recovery of State Assets (AVAS) to elaborate and apply the plan for the restructuring of Tractorul Brasov in order to increase...

People under 35, persons evacuated from dwellings located on lands with high seismic activity, from houses destroyed by natural disasters or from houses recovered by former owners will...

Architected Business Solutions (ABS), together with IDS Scheer and SAP, launched yesterday Enterprise Resource Planning (ERP), a fully integrated solution that is meant for the development of small...

On the occasion of the Romanian-Hungarian Forum in Cluj-Napoca, Coface Romania, together with Coface Hungary, drafted a comparative study of the business environment in the two countries. The...

The state-held mining development Rosiamin, located in Rosia Montana, Alba County, will remain inoperative until at least the beginning of next year. According to Alba Deputy Prefect Clement...

Astra Asigurari (Astra Insurance), the third largest company on the market, could be de-listed from the RASDAQ market of the Bucharest Stock Exchange, as there are "strong arguments"...

The German industrial group Siemens, which presented its major development avenues for the next decade in Berlin, this week, will continue to invest heavily in Romania. "We are...

Finance minister Sebastian Vladescu confirmed on Wednesday at the Government headquarters that the budget deficit target for this year would be increased from 0.9% set after the April...

The Stock Exchange closed the first quarter with a net profit worth over 5 million RON (1.4 million euros), falling below the level budgeted for this year. However,...

The latest fashion among businessmen in Romania is to invest over 100,000 euros in state-of-the-art IT systems that control security, utility and home entertainment systems. This is the...

Daewoo Mangalia Heavy Industries (DMHI) shipyard, the biggest shipyard on the Romanian market, closed last year with losses worth 18.5 million euros, despite a 46% increase in its...

Adrian Teslovan, marketing manager with Romaqua, producer of the Borsec brand, says the company will strengthen its market position in view of EU accession by entering the medium...

According to data published in the Official Gazette, the company derived gross income standing at 0.7 million euros, which is comparable to that in the previous year. ...

According to data published in the Official Gazette, car parts producer, Johnson Controls Romania, derived gross income worth 4.7 million euros (17.3 million RON), last year, after having...

German Continental AG Group in partnership with air freight specialist Dietrich-Honold Logistik and Honold Logistik Group (both of them based in Germany) has started the construction of a...

The volume of foreign direct investment (FDI) attracted by Romania this year could reach 10 billion euros, twice more than in 2005, Premier Calin Popescu-Tariceanu stated during the...

EvoBus company, the distributor of Setra and Mercedes Benz buses, opened a branch in Romania. Its main objective is to reach an annual sales level of 1,000 units....

The Parliament of Luxembourg has ratified unanimously Bulgaria and Romania?s EU accession treaty, Europe.bg told FOCUS News Agency. The debates lasted for two hours. Representatives of all the five...

Saint-Gobain Isover Romania, a company owned by the French construction materials giant Saint-Gobain, increased its share capital by 5 million euros, to 12.6 million euros (calculated at an...

Raiffeisen Asset Management, the investment management company of Raiffeisen Bank, launched the first mutual funds that will also invest in listed shares on the international capital markets. ...

Mellon Romania, a provider of front-end and back-end transaction solutions and outsourced services to organizations with strong consumer business, announced the recent expansion of its call centre business...

Freescale Semiconductor (FSL | charts | news | PowerRating) said it expanded its operations in Bucharest, Romania, with new facilities and staff, focused on developing next-generation wireline and...

The Bucharest-based construction company Impact will challenge the decision of the Cluj City Hall to propose Polus Real Estate as the builder of the "Tineretului" sector of the...

Romanian private baker Dobrogea Goup is preparing to become compliant with European standards through intensive investments in technology and quality management. The Group has invested over 30 million...

The general consolidated budget in the first five months registered a surplus of 1.3 per cent of the GDP (RON 4.1 bln), more than in the previous months,...

Romania has good economic growth prospects supporting the banking sector's development, daily Bursa reports on Wednesday citing from a recent bank risk analysis of Standard & Poor's. ...

World Bank Country Manager Owaisse Saadat ends stay in Romania Owaise Saadat, World Bank Director for Romania will leave his post on June 30 and will take up the...

Volksbank Romania intends to expand their distribution network by 26 branches and 28 outlets under franchise. The bank plans to reach 125 branches by yearend, according to sales...

Prime Minister Calin Popescu Tariceanu confirmed that the budgetary deficit target from this year will increase from 0.9% to 2.5%, after a meeting with Minister of Public Finance...

Approximately 120 meat-processing units could be closed before the end of June because they have not started programs to upgrade their standards to the level of European norms....

Minister of Agriculture Gheorghe Flutur said yesterday that it might create a state institution that will take over the activity of animal control, if the company that already...

Shareholders of soy oil producer Expur Urziceni approved in May an investment of 20 million euros for the construction of a biodiesel factory. Necessary funds would be obtained...

EFG Eurobank Ergasias will take over before the end of July shares held by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC)...

Managers of companies with more than 20 employees will be compelled to inform their workers of the company's personnel policy, particularly so in the cases where layoffs are...

Sanda Popescu, chief economist for Eximbank Romania, presented the role and attributions the bank has in promoting and sustaining Romanian exports during the "Exports Financing" conference. The Eximbank...

The value of Visa card transactions at retailers in Romania for the March 2005-March 2006 period amounted to 455 million dollars, up 127 percent compared to the level...

The government says the contract with the Dracula Park company, a theme park project launched in 2001, was illegal and clearly disadvantaged the state. The company plans to...

Meats producer Scandia Cons from Sibiu will invest 15 million euros to build a charcuterie plant outside of Sibiu. The plant will be completed next spring and will...

Special steels manufacturer Mechel Targoviste intends to increase its share capital by at least 10.6 million dollars (8.5m euros) through a cash contribution from its shareholders. The majority...

Petru Prunea, chairman of the financial brokerage company Broker Cluj, and a member of the managing committee of the Stock Exchange, believes that the situation of the capital...

The Romanian Lottery last year saw a gross profit worth 29m euros, (105m RON), about half the total in 2004, although, it maintained a comparable turnover. The Romanian...

Nicolae Crisan, chairman of the Insurance Supervision Commission (CSA), will be removed from office and replaced by Angela Toncescu, formerly the president of Asirom and the current manager...

Automobile Bavaria, the importer of German BMW Group anticipates selling two Rolls Royce Phantoms. The super luxury model with an extended wheelbase is priced at nearly 380,000 euros...

Nestle Romania, one of the main players on the market of consumer goods, last year made losses standing at 0.89 million euros (3.2 million RON), more than 70%...

Liviu Giugiumica, manager of BRD Securities, which currently ranks fourth among brokerages on the stock market, has recently confirmed that he is to leave BRD bank's brokerage for...

Loans have come to account for a little over half of total banking assets, stated Nicolae Danila, BCR executive chairman on Tuesday. Despite shrinking interest rate margins, banks...

Pfizer Romania SRL, which operates on the pharmaceutical market in Romania, posted 60.3 million RON (16.6 million euros) in turnover, and gross profit of about 4.8 million RON...

The shares put up for sale by Transelectrica were oversubscribed by about 5.6 times, according to preliminary data available after the closing of the offer. Investors put orders...

International law firm Salans has announced its Bucharest-based team brought two senior lawyers on board, which are to hold key positions within two departments. Salans positioned itself as...

Eastern Europe and the MEA regions (Middle East and Africa) are out to challenge that perception of few lines and low impact, Point Topic points out . Both...

The Romanian Commercial Bank (BCR), controlled by Erste Bank, anounced on Tuesday, June 28, that it exceeded the two banking cards thresholds, from which 90 per cent...

The Romanian subsidiary of Austria?s Volksbank forecast that the profitability of the bank will triple this year, the bank?s president Gerald Schreiner told a press conference in Bucharest...

In the next ten years, the Austrian group OMV might cash in extra USD 2 billion for its natural gas fields in Romania, Bucharest-based economic and financial weekly...

The financial brokerage level will reach 24 percent of the gross domestic product (GDP) this year, Vice-Governor of Romania's National Bank (BNR) Florin Georgescu said at a seminar...

Anchor Group made 16 million euros in profit last year, a two-and-a-half times increase on 2004, while its turnover was 31.2 million euros, Economistul daily reported on Friday....

The highest yielding financial investment in Romania over the past 12 months has been investment in the most liquid shares on the Bucharest Stock Exchange (BVB), with an...

Starting Saturday, July 1, the redenomination of the Romanian local currency - the leu - enters a new stage, the national dailies of Romania inform. Specifically, 12 months...

Alliance Overseas, the company that holds 15 percent in Societatea Companiilor Hoteliere Grand (GHES), managers of the five-star JW Marriott hotel in Bucharest, challenged in court a decision...

Inflation will go down to the fluctuation interval proposed by the National Bank but not before the first three months of 2007, Florin Georgescu, first vice-governor of NBR...

The National Bank was quick to move from "frowning upon" the lending in RON this spring to concrete steps to take the wind out the sails of domestic ...

Real estate developer Atlas Estates Limited bought 80% of the property rights over a 56,000 square meter area. The company paid 3.8 million euros for the plot. The...

Radu Timis, chairman of Cris-Tim group, the most important player in the charcuterie industry, says the bankruptcy of more than 600 plants that are not compliant with the...

State-owned electricity producer Termoelectrica closed 2005 with gross losses worth 37.6 million euros (135.5 million RON), over two times more than in 2004, when the company posted losses...

Omniasig Asigurari de Viata (Omniasig Life Insurance), a company controlled by the Vienna Insurance Group and TBI Holding, will enter the unit-linked insurance market this year. This is...

The value of state subsidies granted to companies doing business in deprived areas, in the 2003-2005 period, exceeded 54 million euros, according to an announcement made by the...

The National Bank of Romania (BNR) yesterday increased the monetary policy interest by 0.25, up to 8.75 percent, in order to reduce the pressures generated by internal demand,...

Textile manufacturer Siretul Pascani will request the shareholders' approval to authorise the Board of Directors to invest 2 million euros to purchase shares. Siretul Pascani does not currently...

Ambro Suceava, one of the leading players in the paper and cellulose industry, estimates a turnover worth 31.2 million euros for this year, up from 22.5 million euros...

The construction of the train and auto traffic bridge involves the investment of approximately 317 million euros, according to Romanian and Bulgarian transportation ministers. The Romanian party must...

The Chamber of Deputies adopted the Cinema Law, which provides that the government can privatize cinemas and other buildings and properties belonging to state-owned studios. The studios targeted...

Metro Group Information Technology Romania will move into a new office in mid-August. "The German corporation has rented 3,300 sqm of office space at Construdava Business Center, one...

Monte dei Paschi di Siena Bank withdrew their offer for acquiring the National Savings Bank (CEC), announced on Tuesday the president of the financial institution, Giuseppe Mussari, quoted...

Romanian company Net Consulting, one of the main players on the local market of system integrators, last year posted a turnover worth 28 million euros, a 50% increase...

U.S.-based company Novell, producer of the Suse Linux operating system will open an office in Romania, as its sales in the region have increased in the past three...

Avon Cosmetics Romania, the biggest importer of cosmetics on the domestic market, last year overshot the 100 million-euro mark in terms of turnover. The cosmetics importer, a subsidiary...

Tuesday, Confirm Inc. said that it has completed delivery of an initial order for its biometric products to Best Brand Products of Bucharest, Romania. The products delivered include...

Constructii Aeronautice SA Ghimbav in Brasov, a company operating in the machine building industry, is exporting almost its entire output to the Unites States of America, the company's...

The 1.2 billion euro debt of thermal energy producer Termoelectrica could be erased if the Competition Council approves the calls of the Ministry of Economy (MEC), according to...

BRD Finance will launch today a credit card intended for individuals that want to buy products from the Diverta bookstore chain or any store located in Romania or...

ABB Power Technologies Company is interested in the privatization of some divisions belonging to Electroputere Craiova and in the construction of the Romania-Turkey submarine cable. The company was...

The Senate adopted Monday the law project that modifies the current Fiscal Code. The Chamber of Deputies will analyze the project soon. The changes will become effective starting...

Some of the companies interested in taking part in the construction of the Cernavoda 3 and 4 units want Electrica to buy, based on long-term contracts, the quantity...

The Payments Agency for Rural Development and Fisheries (APDRP) could stop receiving SAPARD financing projects in the following weeks, as available funds are nearly exhausted. "APDRP will bestow...

Smart-tek Solutions, Inc. (OTCBB:STTK) and its subsidiary, Smart-tek Communications, Inc., announced today an update on its Romanian market development initiatives. "We have now visited Romania on two...

Trigranit Romania Director Janos Pal Halasz explains in an exclusive interview for Bucharest Daily News the plans for the Esplanada project, the largest real estate investment in Romania,...

Just months before Romania is scheduled to join the EU, the union has told Romanian steel firms to stop dumping cheap steel pipes and tubes on the bloc's...

Romania's central bank on Tuesday raised a key interest rate for banks by a quarter of a point to 8.75 percent in an effort to curb rising inflation and ...

The Romanian Savings House (CEC) president Eugen Radulescu said at a conference on Tuesday, June 27 that the bank ranks today in the third position in the Romanian...

As many as 1.104 million visitors, of whom 869,124 Romanians and 234,928 foreigners, arrived in Q1 of the current year in the Romanian tourist accommodation facilities, according to...

The most profitable financial placement over the last 12 months was investment in the most profitable shares on the Stock Exchange Bucharest / BVB/ with an average rate...

Wizz Air Ltd., a low-cost carrier in eastern Europe, said it will add 28 flights a week between three Romanian cities and five western European destinations including London...

The implementation of the latest agricultural technologies meeting the EU standards will increase the unemployment by almost two million people, State Secretary in the Ministry of Agriculture, Forests...

Personal care giant Johnson and Johnson is close to a deal to acquire drug maker Pfizer?s over-the-counter division for about USD 16 bln, The Wall Street Journal reported in its online edition late Sunday. The amount would top the USD14 bln that Pfizer had been expecting from the sale, the report said. The Pfizer division includes well-known brands such as Visine (eye drops) and Sudafed (decongestant). Pfizer announced in February that it planned to sell off the division which in 2005 did about USD 4 bln in sales and netted pre-tax earnings of about USD 700 M. (AFP)

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For this year experts estimate lower investments than in 2005, EUR 400 M, but investments may reach EUR 1.1 bln in 2006-2009. According to specialised surveys on the...

The maintenance contract signed by Metrorex and Alstom may be cancelled, with traffic conditions worsening for subway users in the meantime. Maintenance and check services provided by Alstom...

After launching the new roaming concept this spring ? Orange Travel ? Orange Romania now offers employees a roaming option for the summer ? Orange Travel Holiday ?...

Foreign capital outflows put pressure on the national currency, which devaluated by 3.5 per cent over the past week, reaching RON 3.6382 for the EUR (official central bank...

World Trade Center (WTC) Bucharest, the company that owns the four-star Sofitel hotel last year made a 54.3 million RON (15 million euro) turnover, about 15% less than...

BRD Finance launched a co-branded Mastercard credit card with the Rombiz retailer. The card can be obtained in any Rombiz store, after a purchase of at least 500...

Prince Albert of Monaco awarded the governor of the National Bank of Romania (BNR), Mugur Isarescu, the prize of the Crans Montana Foundation Universal Forum. Another eight...

The Bucharest Stock Exchange witnessed a new abrupt fall yesterday, with the BET index dropping below last year's level for the first time in 2006, Ziarul Financiar writes....

Razvan Nidelea, sales manager with Dona pharmacy chain, says strong expansion on the domestic market will boost the company's turnover by 40%. "This year, we plan to...

Polus Transilvania will this week start construction of the Polus City Center shopping centre, an investment estimated at 140 million dollars. "The construction of the retail centre will...

The employees working in the Peco distribution chain of oil products will start pressuring the government to release the emergency ordinance according to which they should receive a...

Kraft Foods Romania, one of the major players on the chocolate and coffee market, ended last year with turnover worth 100 million dollars (80.4 million euros), up 18%...

Polish Enterprise Fund (PEF) V, managed by Enterprise Investors is in talks to buy AAC (autoclaved aerated concrete) manufacturer Macon Deva, sources on the market told ZIARUL FINANCIAR....

The number of German tourists dropped from 300,000 in 1985 to little over 12,000 now, according to the president of tour operator ITS, Wolfgang Schuld, quoted by daily...

The Romanian capital ranked 114 in the classification of the most expensive 144 cities in the world in 2005, according to a study of the British consultancy firm...

The construction company, Solel Boneh International Romania, the domestic unit of the biggest Israeli construction company, Housing & Construction Holdings Ltd., last year posted turnover worth around 9.5m...

Darby Overseas, the private-equity and mezzanine finance division of the financial American group Franklin Templeton Investments, one of the leading investment fund managers worldwide has started to research...

Event organizer Euro Expotrans will hold in Bucharest between June 29 and July 2 the fifth edition of Transpotec Logitec Romania, an international show dedicated to transportation and...

Piraeus Bank Romania extended the crediting period for personal needs loans from five to ten years and introduced the possibility of contracting such credits in euros. The...

An additional 18 million euros could be allocated at the second budget rectification this year to the Ministry of Transportation, Construction and Tourism, according Ovidiu Marian, the president...

The Dutch group SPAR has announced it would open seven stores in Romania, in the central and western part of the country this year. SPAR is the newest ...

The UTI group has signed a credit agreement with OTP Bank, worth a total of 11 million euros, with the amounts to be used for the group's routine ...

Romanian Senate Monday approved lowering VAT for textbooks, books, newspapers, human and veterinary pharmaceutical products, among others, as well as for the hospitality industry to 7% from the...

"This year is going to attain a boom in investments in flats," believes Mihaela Pana, head of the residential department of real estate advising and consulting firm DTZ...

Sanjay Dalmia, Chairman, GHCL, is envisaging a turnover of around USD 4 billion in the next two years. He also expects the Romanian plants to give revenues around...

Today, Austrian systems integrator Systems Integration & Technology Distribution (S & T) announced the opening of a nearshore centre 'S & T Software' in Bucharest. It will offer...

Vodafone Romania announced the launch of Vodafone live! with 3G. "We are very happy to offer Romanian customers Vodafone live! with 3G, the ultimate multi-media offering that revolutionizes...

BIC Romania Marketing & Distribution, operating on the market of stationery products, lighters and shavers, closed last year with a turnover worth 8.3 million euros (30.1 million RON),...

The steel plant Donasid Calarasi, owned by the Tenaris group, the biggest pipe manufacturer in the world, ended last year with losses worth 27.17 million euros (98.37 million...

The local currency continued depreciating on the last day of the week, exceeding the threshold of RON 3.6 to the EUR for the first time in the last ...

Compatriots Ali Ergun Ergen and Ibrahim Paksoy, colleagues until a while ago, now coordinate the implementation of two rival investments totalling over EUR 250 M. Bucharest currently...

Societatea Nationala a Gazelor Naturale Romgaz SA (The National Natural Gas Company) plans to make investments worth 40 million euros in 17 natural gas drying facilities in Sibiu...

Drug distributor LaborMed Pharma Trading estimates a turnover worth some 30 million euros for this year, a 50% increase against last year. "In 2005 we posted a turnover...

Mineral waters producer Apemin Tusnad from Harghita county last year posted a 60% turnover increase, to 6.6 million euros (24.1 million RON), with a 3% profit margin, according...

Queen Monaco Distribution posted a turnover worth 25 million euros (90.9 million RON) last year, an 11% increase against the previous year. In RON, however, business stayed at...

The Arad-based Rosko Textil company, the biggest player on the Romanian textile market, last year registered turnover worth 139 million euros (501 million RON), down 17% from 2004....

The Austrian company Herz Armaturen will sell 11.7% in the manufacturer of taps for household use Armatura Cluj-Napoca, out of its current 44.7% stake. The 11.7% stake is...

The growing number of wealthy customers willing to pay hundreds of thousands of euros to buy a Porsche, Rolls-Royce, Maserati or Maybach has made domestic importers rush to...

Under the draft act amending Law no. 31/1990 on trading companies, joint stock companies will have the possibility to choose between two management systems, that is either for...

The manager of Boom.ro, the biggest on-line advertising company in Romania, Orlando Nicoara resigned on Thursday, according to his personal blog www.orlando.ro. The reasons for this move have...

By the end of 2008, the Romanian civil busy population will rise by 0.5 percent against 2005, whereas the number of employees will rise 5.5 percent, according to...

The withdrawal of investors from emerging markets is increasingly more felt on the Romanian market, and the euro may reach in the coming days a record-level of 3.7...

The value of direct foreign investments jumped in the four months of the year by 130 percent, amounting to 2.3 billion euros compared with the level of one...

The changes the domestic retail segment will go through over the next 4-5 years are the biggest opportunity for distribution companies. The first few years after EU integration...

The chairman and one of the main shareholders of Slovenian KD financial group, considers the Romanian market to be one of the most appealing in the region owing...

Bere Mures, the second-largest domestic player on the beer market, aims to grab 7% of the mineral water market in one year after starting production. The company,...

Misu Negritoiu, 56, will become chief executive of ING Bank Romania as of August 1, as well as chairman of the Country Board of ING Romania, which includes...

The Bucharest Stock Exchange (BVB) Board has decided to exempt from the listing fees all companies that complete the listing process by the year-end, provided that the IPO...

Brasov-based Metabras have launched their own brand and new logo to begin a new stage in their development and anticipate Romania's forthcoming accession to the EU. The event...

Cramele Recas (Recas Wine Cellars) announced a 6.4 million EUR turnover for last year, up by 56 percent from the previous year, thus marking the highest growth on...

ProCa, the IT distribution division of RTC Group, is planning to land nearly 100 million EUR in turnover this year. The company was established approximately 2 months ago...

The Timisoara based Pasmatex Group estimates a 28 percent increase in turnover, according to GM Maria Grappini. The apparel producer owns the brands Marion, Mary's Style, Dreambabe and...

OTP Bank increased the nominal capital of its Romanian branch by 20 million euros, to 73.7 million euros, according to a bank announcement. A part of the funds will...

Gazprom's natural gas exports to Romania increased by 30 percent in the first five months of the current year compared with the same period in 2005, to 2.68...

Microsoft wants to hire 11 Romanian software consultants and specialists for the company's Ireland branch. The jobs, which will pay between 65,000 and 85,000 euros per year, are aimed ...

An EU commissioner for energy and the ministers from this sector from the countries the Nabucco gas pipeline will traverse, agreed to sign a declaration in Vienna regarding...

Real estate developer Dakona Properties, a member of the BSR Europe group, will invest approximately 120 million euros in the construction of a residential area that will be...

The Ministry of European Integration launched the tender for the joint project of Mures and Alba counties to modernize roads DJ107 and DJ107. The project, valued at more...

ATEbank, the bank with the fifth-largest market capitalization in Greece, will pay 32.1 million euros for 50.94 percent of the shares of local Mindbank. The Greeks intend to...

Companies that will complete the process of listing on the Bucharest Stock Exchange (BVB) by yearend will be exempt from payment of the trading admittance tax and data...

Shipyard Daewoo Mangalia Heavy Industries closed contracts for the construction of four container-carriers for the German companies Gebab Holding and Conti Holding, according to a press release of...

The European Bank for Reconstruction and Development (ERBD) intends to invest up to 25.4 million euros at the second closure of the Balkan Accession Fund, controlled by the...

The company won the 30 million euro contract for repair works on the Bucharest-Pitesti highway as part of a consortium, despite the planned costs being twice than that...

The United Nations Development Program (UNDP) will launch a fund raising campaign at the end of July for the renovation of the historic center of Bucharest, said Florin...

Minister of Agriculture Gheorghe Flutur said that the SAPARD program has been completely used after the Fermierul program had been introduced. The minister showed that the farm-opening program...

Nuclearelectrica, the operator of the Cernavoda nuclear power plant, received on Friday's deadline 15 letters of intent from companies interested in obtaining the public contract. The operator...

Hotelier ANA Hotels, subsidiary of ANA group , owned by businessman George Copos, until recently Romania s deputy Prime Minster, generated EUR 15.3 million in 2005 turnover, an...

Romania's economy has growth at a dynamic pace for some years now and the property market also played its part in this. But where does the capital come...

Bucharest-based nonferrous metal mill Laromet concluded last year with a net profit of 457,620,000 ROL, up by 2.4 percent year-on-year and a gross profit of 875,750,000 ROL, down...

Romgaz, Transgaz, Uztel, Upetrom, Compet, Armax Gas and Comote represented the Romanian oil & gas industry at the Global Petroleum Show in Calgary, Canada, on June 13th -...

Carpatcement Holding concluded last year with a net turnover of 567.81 million RON and a net profit of 110.66 million RON (some 31 million EUR). Carpatcement Holding is...

The Romanian Commercial Bank (BCR) opens today its 70th banking unit in Bucharest, in the area of Iancului Square, thus, the total network of BCR reaches 419 branches...

The European Investment Bank (EIB) this week approved the granting of a EUR 400 M loan for the rehabilitation of the Romanian road infrastructure, EIB vice-president Ivan Pilip...

The Labour minister holds that in order for pensions to increase by 30 per cent, in accordance with the government?s programme, the value of the pension point must...

Italo-Romena Bank reported for the first five months of the year net profits of EUR 3.7 M, up 34 per cent as compared to the corresponding period of last ...

The stage in Romania and Bulgaria?s meeting agriculture-related obligations, the pace of reforms and preparations for contracting post-accession funds were the main topics approached by Romanian Minister of...

Two real estate companies announced on Thursday the start of construction works at a new residential complex in Bucharest with a total investment of 60 million euro. ...

The volume of shares and bonds acquisitions made by foreigners in the first five months of the year on the Romanian capital market amounted at 439.58 million euros,...

Electrica Transilvania Sud posted a turnover worth 1.14 billion RON (315 million euros) last year, a 10% increase against turnover posted in 2004, of 1.03 billion RON (254...

Hotel operator ANA Hotels posted a turnover worth 55.4 million RON (some 15.3 million euros) in 2005, as compared with 54 million RON in 2004, according to the...

The current account deficit of the balance of payments increased 57.2 percent in the first four months over the same period in 2005, to 2.48 billion euros, as...

Power distributor Electrica Oltenia, controlled by the Czech group CEZ, expects to obtain this year a net profit of 26.9 million euros, up from 19.6 million euros in...

US-based Adama Holding and Romanian Future Group real estate agencies will invest 60 million euros in the construction of a residential complex in the Titan area, in Bucharest....

Orange Romania extended the favorite number option for the text messages service (SMS) and reduced the tariff for sending an SMS by 43 percent, down to four cents...

Law firm Bostina and Asociatii took over Swiss judicial consultanting firm Westdin, specialized in international commercial law in a 512,000 euro transaction. After opening branches in Vienna and...

The local subsidiary if SAB Miller, Ursus Breweries, registered a 50 percent increase of sales to 148.1 million euros that translated to a profit of 19.2 million euros,...

In the first five months of the year, Germany was the first destination for locals who found jobs abroad through the Office for Labor Migration (OMFM), followed by...

The value of foreign direct investments (FDI) increased in the first four months of the year by 130 percent to 2.3 billion euros, compared to one billion euros...

MOL Romania reported a 132.1 million euros turnover in the first four months of the current year after closing 2005 with 420 million euros and a net profit...

Lufthansa will double the flights between Timisoara and Munich starting next week. The present number of flights is of six and the German-based airline company will introduce a...

Roman Brasov delivered 180 trucks to the United States of Americ, in the last six months and in the near future another transport of 90 trucks will be...

The Senate approved yesterday a law project that provides the closing of duty free shops from customs check points at the borders and setting up of new ones...

Wolfgang Schoiswohl will hold the position of chairman of the Board of Directors and president of Banca Ion Tiriac, until the merger with HVB Bank Romania is completed,...

Petru Prunea, the chairman of Broker Cluj, the only stock market brokerage company listed on the Stock Exchange, says he plans to double the company's share capital over...

Publishing group RAO International Publishing, which owns the rights to publish the books of American writer Dan Brown, the author of the best-seller "The Da Vinci Code", in...

ATE Bank, the fifth-leading bank in Greece in terms of market value yesterday signed the contract to buy about 57.13% in Mindbank, in an approximately 35.8 million-euro deal....

MOL Romania, the local branch of the Hungarian petroleum group MOL made a 134.55 million-euro (470.9 million RON) turnover in the first quarter, almost three times more than...

; ; ; In the first four months of the year, foreign direct investments (FDI) increased by 130 per cent ; to EUR 2.3 billion, against EUR...

The Romanian state has reached an agreement with South Korean officials for the takeover of 51 percent of the Daewoo Automobile Craiova factory, after the last round of...

The European Bank for Reconstruction and Development (EBRD) and Israeli food producer, Tnuva, boosted the share capital of Tnuva Romania Dairies by 2.85 million euros (10 million RON)....

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Interview with IZTOK SEVER, Country Head Sandoz Romania

Sandoz Romania has undergone a rebranding process this year. What is the current status of the process and what costs do you expect to incur by its end?

We are currently undergoing the rebranding process. The Company name was registered in March 2006. The entire portfolio of drugs is subject to re-registration under the big Sandoz umbrella. As for any important project, the costs due to rebranding will surely be balanced by the credit ensured by the power of the Sandoz name.

Will this process presuppose a shift in company?s sales and marketing strategy? Do you intend to extend company?s export structure to other foreign markets?

Yes, for sure. Being one of the biggest players on the Romanian pharmaceutical market, our marketing and sales activities will be tailored as such. The reunited portfolios - Lek, PharmaTech, Biochemie, Hexal - ensure a stronger force to our offer on the market. Our strategic priorities will be to lead the market and leverage strong market position, as well as to be cost-competitive. Speed and simplicity, quality and customer focus, trust and mutual respect - these values are the foundation upon which we at Sandoz aim to build our future. In what the export activities are concerned, we intend to expand the destinations throughout Europe and the USA.

Does the Romanian pharmaceuticals market have a good medium-term development potential?

The drug market in Romania is not mature yet and it is currently undergoing an intense turmoil. Financial and political decisions have influenced the growth of the pharmaceutical market, which has witnessed great variations for the past few years proving that any odds calculations can be easily misleading. For the same reason it is very difficult to accurately calculate or estimate what will happen in the coming years.

Thinking back to 2002, when the value of total drug market in Romania was closely over EUR 600 M (manufacturer price), 2005 figures reached almost EUR 1.1 bln, according to Cegedim data. This increasing growth rate accounted for big players on the international drug market becoming interested in such an attractive market. Starting with 2005, versus the 2004 results, generics seem to have found a new impetus and registered a superior growth rate versus the original products. The generics, with market shares of 84 per cent in units and 44 per cent in value (in 2005) are part of a highly competitive market. The quality along with affordability is the generics? main competitive edge. Multiple changes have intervened here, with multinational companies focused on acquiring local manufacturers; the acquisitions of PharmaTech, Sindan, Terapia, Armedica and Sicomed are good examples of this approach. As for the future, everyone?s hopes are high. We estimate that the generics market will grow with 15-20 per cent this year in value, versus a 10-15 per cent growth of total drug market; these growths will be mainly based on the retail segment.

2006 will definitely be a turning point, as the generics will grow more rapidly than the originals. And in the coming years this trend will certainly be maintained.

Novartis reported good financial results in the first quarter of 2006. What was Sandoz Romania?s contribution to these results?

Sandoz Romania is not the only player when we are talking about Sandoz results in Romania, because vast majority of our Romanian sales present products received from other group producers. We can say that government?s policy of having local prices at the level of the lowest prices in Europe does not help Romanian Sandoz sales profitability. Sandoz sales presented in 2005 20 per cent of Novartis sales and within Sandoz Romania presented 0.6 per cent of Sandoz sales.

How will the financial parameters evolve by end of 2006?

We expect to be government?s policy of low prices even stiffer so we cannot expect improvement of profitability, rather opposite. Still, as far as Sandoz Romania?s product portfolio is concerned, this year we are going to increase our portfolio for 34 products and the pipeline for next coming years will rise every year very similar.

by Sebastian Hubati

source

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The "Proprietatea" Fund will be defined as a new category of collective investment body. The stipulation will be included in the project for the changes to the law...

Romanian commercial banks should take measures to encourage savings because an increasingly important part of the local's reserves of liquidity is deposited abroad, said the deputy governor of...

Operators that rented Black Sea beach sectors are free to build temporary constructions on the sand without needing a construction license. Catalin Anton, spokesperson for the Litoral Dobrogea...

The construction of a new bridge over the Danube and the reconstruction of the Bucharest bypass, projects financed by Chinese companies by over half a billion dollars, have...

Sales of multinational beer on the local market advanced by 16 percent in the first five months of the year compared to the same period of 2005. The trend is expected to continue in the following months. President of the Romanian Brewers Association Dieter Schulze explained that the beer market increased in the cold season even though the sector was affected by seasonality more than other industries. The association is made of the groups Brau Union Romania, Interbrew Romania, United Romanian Breweries Bereprod and Ursus Breweries, who sold in January through March approximately 1.85 million hectoliters.

source

The Senate's Budget-Finance Commission suggested the maintaining of the present tax system for small enterprises that produce goods or services for the population, said the commission's president, Varujan...

Romanian Export-Import Bank Eximbank announced yesterday that it launched new products for small and medium enterprises (SME) and exporters. Until Q1 2005, Eximbank supported exporters with subsidies, but...

The American-based company completed the construction of a 17 million euro bottling line in the Timisoara factory, which could supply the neighboring countries in the following years. This...

French based Assystem Romania announced it would start recruiting in the following 18 months more than 300 young Romanian engineers that have recently graduated. The company has been...

Teh energy sector strategy provides the privatization of electricity distribution and ...

The rent of commercial spaces in Bucharest will decrease in the following period by 10 to 20% because of the new retail projects and the increase of market...

The grant would part of the 308 billion euros allocated by the European Union for regional projects such as the construction of highways and environment protection. The...

Romania registered last year some of the lowest levels of the Gross Domestic Product (GDP) per capita in the region, although the advance of the Romanian economy was...

ValueFirst became the first MVNO (Mobile Virtual Network Operator) to start its operations in Romania. ValueFirst, which is a leading MVNO for data services with over 350 enterprises...

The World Bank approved on Tuesday (13 June) a $58.5m loan to Romania, intended to help the country address the needs of some of its most vulnerable citizens...

SkyEurope Airlines will increase as per 11 September its services from Bratislava to Bucharest and Sofia from 4 to 6 weekly flights per route. Based on an...

Romanians, individuals and companies, had investments abroad worth some 850 million euros at the end of March, an increase of 35% from the same time last year, Ziarul...

The National Authority for State Assets Realization (AVAS) is to privatise this year, as a priority, 16 companies which currently have the Romanian State as a major shareholder,...

Banca Româneasc?, the local branch of the Greek group National Bank of Greece posted a pre-tax profit worth 3.2 million euros in Q1, 36% more than the result...

The value of leasing contracts closed in the first three months by the members of the Romanian Leasing Association (ASLR) reached 342.4 million euros, a 30% increase against...

The Minimax Discount store network, developed by the former head of the XXL Mega Discount network, Rainer Exel, last year saw losses worth 1.4 million euros (5.1 million...

Citroen importer Automotive Trading Services (ATS), owned by Prime Minister C?lin Popescu T?riceanu, doubled its business to 44.3 million euros last year, from 22.4 million euros in 2004....

This year, the state has assigned for the implementation of the promotion strategy for Romanian exports to the European Union, especially in sectoral branding, funds worth EUR 100,000;...

; The spectacular increase in the quotations of the aluminum on the international markets could put Romanian aluminum producers Alro Slatina among the private Romanian companies with a...

President Traian Basescu signed Tuesday a decree on Stefan Neagoe?s appointment as Vice-President of the Competition Council. His term runs out on August 17. Neagoe, a former...

The representatives of the American company Bechtel claim that, in 10 days at the most, the works for the Transylvania Motorway will be resumed, and, although the number...

The Romanian medicines market reached 363 million dollars using the producer's price and 421 million dollars using the acquisition price in the first three months of...

French energy colossus Electricite de France has expressed this week interest in the building of reactors 3 and 4 of the Cernavoda nuclear power plant, according to company...

Azali Trading, the company that holds the franchise for Zara, Pull and Bear and the Sunglass Hut brands, plans to develop at least 15 locations by the end...

Puratos, the domestic branch of the Belgian group of the same name, which operates in the industry of ingredients for bakery and patisserie, last year registered turnover worth...

Consumer goods company Unilever South-Central Europe posted 499 million RON (138 million euros) in turnover on the Romanian market in 2005, an increase of 23% from the 456m...

The Basarab overpass will be built by the Italian-Spanish consortium Astaldi S.p.A- FCC Constuccion SA, according to an announcement made yesterday by the commission that assessed the offers....

The Competition Council has checked 220 companies in the April-May period and found that 89 of them had benefited from state incentives totaling 63.3 million euros based on...

Kvaerner IMGB reported for 2005 a turnover of 52 million euros, up 244% comparing with the 22 million reported in 2004. The gross profit registered by the company...

The Ministry of Economy and Commerce (MEC) will suggest the supplementary taxing of oil companies to the government by the introduction of a 6 percent tax to be...

The Ministry of Public Finance will contract credits amounting to 3.5 billion euros in order to finance the program for modernizing and rebuilding domestic central heating systems. The...

The government will discuss next week a second budget rectification for this year, while another is scheduled to take place in October, said the Minister Delegate for Public...

Dacia, the Romanian carmaker controlled by Renault, will launch the hatchback version of the Logan model on September 28 at the Paris Auto Show. The project is part...

The Competition Council demanded the Ministry of Economy and Commerce (MEC) to justify the annulment of budget obligations for the Termoelectrica subsidiary Electrocentrale Bucuresti, according to official sources. ...

The European Commission announced that it has adjusted the rules regarding the reduction of phone tariffs for roaming services and analysts show that the changes will affect the...

Medical services provider Medicover estimates revenues of 8.1 million euros for 2006, up 25 percent more than last year, due to diversifying the services portfolio and expanding its...

The leader of the French retail banking market Credit Agricole has made an offer for the integral takeover of the Greek bank Emporiki yesterday, according to Reuters. Credit...

Several companies and international consortia acquired the prequalification documents for executing the 24 million euro road infrastructure works financed by the European Bank for Reconstruction and Development (20 ...

The National Agency for Fiscal Administration (ANAF) has reminded contributors that starting January 1, 2006 dividends are taxed 16% if they are distributed to individuals and 10% for...

The European Union will approve new regulations regarding the collection of used batteries this summer to improve environment protection against pollution with heavy metals. The enforcement of...

Rent for quality office space in Bucharest increased in the last 12 months from 28.8 dollars per square meter to 33.7 dollars. Bucharest shot up 15 positions to...

Representatives of US company Bechtel said that in ten days at the most the works on the Transilvania Highway will resume. The company has already hired 50 workers...

Deputies yesterday approved the governmental ordinance on the use of the Black Sea beaches. The Opposition criticized the way in which the biddings for these beaches have been...

The Dutch Senate has approved the Treaty on the EU accession of Bulgaria and Romania late on Tuesday, the country's embassy to Sofia informed. The decision of the...

The Ministry of Transportation will present to the government with a document next week that will include proposals regarding the project for the reconstruction of Casa Radio, located...

Saint-Gobain Glass Romania, the local division of the French construction materials producer Saint-Gobain, increased its share capital by 12 million euros by means of a cash contribution, a...

The National Securities Commission (CNVM) ended last year with a surplus (difference between revenues and spending) worth 7.6 million RON (2.1 million euros), mainly due to the increase...

Ovidiu Buluc, the majority shareholder in the drug distributor Farmexim, one of the main players on the domestic market, says that distribution profits depend on the trend of...

The domestic carmaker Dacia, says it might put off investments worth 130 million euros aimed at raising production capacities in case Romania was flooded with imports of used...

The ACMS Bucharest construction company last year posted income of approximately around 3.8 million euros (14 million RON), up 60 percent year-on-year, against a 2% drop in turnover,...

The export of loans to the balance sheets of the parent banks, as well competitive pressure have caused visible changes in the market share ranking of the banking...

Meat product brand Campofrio Romania, controlled by Spain?s Campofrio Alimentacion, intends to build a meat product factory near Bucharest, with the project feasibility to be analysed in the...

Introduction of the vice tax as of May triggered an increase of the inflation rate to 0.6 per cent in May, as opposed to 0.42 per cent in April, ...

Condmag Brasov Co., specialising in gas, oil and water pipelines and connected installations, has dominated on Monday the trading session on RASDAQ market/Bucharest Stock Exchange -...

Terapia Ranbaxy drugs maker's Administration Board appointed on Monday Peter Burema as its COE. Burema is also chairman of the Ranbaxy Laboratories Limited for Europe, the Commonwealth of...

The Romanian sugar market will see numerous acquisitions and mergers or even "swallows" of some local companies in international deals by the end of 2007, according to Emilian...

Domestic agriculture might find a niche in the EU?s ecological products market. Romania may take advantage of the fact that it has optimum organic farming conditions to gain...

Local makers of carriages for railway passenger transport are staking on exports to increase turnovers this year, given that the orders by Romanian Railways Passengers' arm are modest,...

Foreign investments generated in 2005 almost 12,400 new workplaces, mainly in the automotive industry (car components), placing Romania 5th in Europe by this criterion after Poland, Great Britain...

The Romanian oil market will grow faster than the overall economy by 2010, set to go beyond 19 billion euros and account for around 14 percent of the ...

Porsche Romania remains, just like over the previous years, the strongest importer in the Romanian car market, so that out of the total of 42,271 imported cars, as...

The telecommunications market in Romania will reach approx. 4 billion euros this year, after the 3.5 billion euros last year, according to the estimations of the National Communications...

A four-starred 215 rooms hotel, Riu Fantasy Beach, was erected in a Black Sea resort, being the first in Romania included in an international chain, Riu. Antares Group...

Romania has allotted approximately 11.2 million RON for the plant protection field in 2006, with her relevant legislation fully complying with the relevant European legislation and expected to...

HP Romania's sales in the first two quarters of the financial year 2006 increased by 53.8 percent as against the similar period of the previous year, the company...

In a press release, mobile operator Orange Romania says it signed up 25,767 3G customers in three days after launching its W-CDMA network in Bucharest and Timisoara on...

The works at Bucharest-Brasov motorway (the section between Moara Vlasiei and Ploiesti) will begin probably on July 15, after the announcement of the tender's winner was published on...

Voices on the banking market consider as probable the entrance on the banking market of the Portuguese Millenium BCP. They are not interested in acquiring a bank but...

The year of Romania's accession to the European Union will lead to an average increase in the consumer prices of approximately 4.2 percent, according to a survey of...

Antares Group has recently finished a EUR 14 million-plus investment in its Fantasy Beach hotel in Mamaia resort, Catalin Butnariu, the hotel manager, told Business Review....

Greek state-owned bank ATEbank has made a preliminary agreement to take over the controlling stake in the Romanian Mindbank, the Greek bank announced last week....

Mining exploitations that will not be privatized by January 1, 2007 face shutdown. According to an action plan that was presented by Ionel Mantog, state secretary for Mineral...

Shareholders of Targu Neamt-based company MONDOtour decided during their latest shareholders assembly on June 9 to increase the company's share capital. Following the increase, it will reach to...

Local county authorities last week met the representatives of French corporation Groupe Soufflet to discuss a 26 million EUR investment in a 60,000 tonnes malt processing unit, Rompres...

Prolemn Reghin recently opened a new production line which was completed thanks to the capital brought by an investor from Turkey, Rompres reports. The opening ceremony was attended...

Telecommunications is the main sector investments have been directed to in the last four years; thus, between October 1, 2001 and April 30, 2006, no less than 57...

Romanian-based landline operator RomTelecom launched four service packages that include voice and internet access, for Small and Medium Enterprises (SMEs) that have maximum 50 employees. This service lowers...

Flamingo hired the German-based consultancy company Candidus for the takeover of Flanco International, which was bought in mid-May this year. The company wants to fully integrate Flamingo International...

The European Bank for Reconstruction and Development (EBRD) could finance by 15 million euros the overhaul of the tram network in Iasi, in a 17.5 million euro project,...

The rate at which Romania absorbs SAPARD funds must improve because at the moment no extension of the time they must be absorbed is possible, said the representative...

Price increases for non-food products, especially cigarettes and fuels, has caused an increase in inflation to 0.6 percent in May (January through May it was 2.52 percent), compared...

The value of leasing contracts closed by the members of the Association of Leasing Companies in Romania (ASLR) amounted to 342.4 million euros, up 30% compared with the...

Fast food chain Kentucky Fried Chicken (KFC) will open two new units in Euromall retail centers in Galati and Pitesti. The two new restaurants are part of the...

The largest Bulgarian gasoline distributor, Petrol AD, announced the investment of 50 million euros by the end of the year in the modernization and expansion of its distribution...

The European wine industry could suffer deep transformations in the following years and current subsidies could be replaced by incentives to reduce production, according to Reuters. The EU...

Minister of the Environment and Water Management Sulfina Barbu yesterday met with representatives of seaside hotels, which have recently protested against the leasing of beaches to other operators...

Renault Trucks has today announced that Thierry Lepercq, Managing Director of Renault Trucks UK Ltd since July 2004 will be stepping down with effect from...

Monday evening, Tenaris S.A, a producer of seamless steel pipes for the energy industry, revealed it entered into a definitive merger deal to acquire Missouri-based Maverick Tube Corp.,...

Europolis will finalize two new office space acquisitions in the coming period, with some EUR 230 million in investment, Stefan Gheorghiu, managing director of Europolis in Romania, told...

Charles de Gaulle Plaza, the biggest office building on the domestic market, has been acquired by investment fund Accession fund for more than 80 million euros in the...

Today's issue of Ziarul Financiar reports the worst period of the Bucharest Stock Exchange, explaining that since February it has lost approximately four billion euros. "The Bucharest Stock...

The Romanian oil market will grow faster than the overall economy by 2010, set to go beyond 19 billion euros and account for around 14% of GDP. Petrom ...

Under a draft government resolution, the annual interest rate charged on illegally acquired State aid that has to be recovered will be 17.5%; the figure was established by...

According to data given to publicity by the Ministry of Public Finance, in May this year, revenues to the general aggregate budget (the local budget excluded) were of...

In 2008 Romania will have 5,450 euros in per capita GDP, according to a study made by the National Prognosis Commission (CNP). Nevertheless, according to statistics, even in...

Big tenders will be open for small companies as well, said the president of the Chamber of Deputies, Bogdan Olteanu, in a meeting with some local businesspersons from...

Bucharest-based Pro Auto Industries will invest 35-40 million euros in the coming years in the modernization of a steel factory in Giurgiu. The factory will be modernized to produce...

Private operators rented for the current year 1.2 million square meters of beaches, after closing contracts amounting to two million euros, according to the Ministry of Environment and...

Considering a similar phenomenon was noticed in the countries that joined the European Union in 2004, Romania could face a major slowdown of disinflation. The calendar and the...

Libra Bank will launch in fall this year several financial instruments for reducing the exchange rate and interest risks, according to bank officials. The bank will launch debit...

The Brokers' Association is demanding maintaining the 1 percent tax on capital gains from transactions in shares held for more than a year and five percent for those...

Italy's Enel will spend 380 million euros on upgrading Romania's power network after it won an auction for a majority stake in distributor Electrica Muntenia Sud, company officials...

The United States Agency for International Development (USAID) is granting local Romanian authorities 1.6 million dollars in 2005-2007 for the development of efficient local impact strategies for energy...

The business tourism turnover amounted to 300 million euros in 2005, up 17 percent compared to the previous year, said the president of the Romanian Convention Bureau (RCB),...

Renault Nissan Romania reported for 2005 a 288 million euros turnover, up 58 percent compared to 2004 and a profit of 10 million euros, down almost 7 percent,...

The municipality will construct a new subway line that would connect Gara de Nord railway station to the Otopeni airport. According to a pronouncement adopted by local authorities...

Trust Motors, the general importer for Peugeot, reported a 161 million euros turnover for 2005, up 19 percent comparing with 2004. For the period, the company's gross profit...

The Romanian-based sausage producer, Campofrio Romania, wants to construct a factory near Bucharest. The company is controlled by Campofrio Alimentacion, a Spanish-based company. Jose Miguel Garrido, the group's...

The downward trend of the Bucharest Stock Exchange continued on Friday as the market's capitalization lost 566 million euros in one week. The five financial investment companies (SIFs),...

Michelin Romania estimates for this year a 20 to 25 percent increase of the company's sales over the 200 million euros recorded last year. In 2005, the tire...

Shareholders of the alumina producer Alum Tulcea could approve on July 10 the merger with Alro Slatina, Alum's main shareholder. Alro announced that the factory's shareholders would decide...

A 6.6 percent gross domestic product growth is estimated for the Bucharest...

Romanian data hosting provider Romtelecom (romtelecom.ro) announced on Friday that it has launched its newest product, Cyber Host. Set in accordance with the last standard of the Telecoms...

The city of Bucharest on Friday approved a euro900 million (US$1.13 billion) project to build a new subway line linking the main train station to two airports. ...

According to data BNR presented on Thursday, the Romanian National Bank ? BNR reported financial losses of 3.06 billion lei in 2005. The documentation shows that the bank...

Italy's Enel SpA will spend euro380 million ($484 million) on upgrading Romania's electricity network after it won an auction to buy a majority stake of power distributor Electrica...

Italy is Romania?s main trade partner and intends to become a leader in the foreign investors? hierarchy as well, president of the Union of Italian Enterprises in Romania...

The budget deficit estimated for this year could be increased to two per cent of GDP in the second budget rectification, from 0.9 per cent target set in...

An ever increasing number of Romanians who spent their holidays abroad is making the insurers' business to flourish year-on-year, they having only to gain from the conclusion of...

Residential districts for young people are built in most places in the western County of Arad, after the local councils were allowed to sell plots of land, daily...

Telecommunications is the main sector investments have been directed to in the last four years; thus, between October 1, 2001 and April 30, 2006, no less than 57...

More than one million foreign tourists arrived in Romania in the first three months of this year, down 3 percent from the same period a year ago, show ...

Piraeus Bank, the local subsidiary of Greek Piraeus Bank, aims at reaching in the next three years a 5 percent share of crediting market, backed by a network...

Romtrans, one of the main players on the market of delivery, logistics and domestic and international freight shipping will launch domestic express courier services this summer to reduce...

Coca-Cola Romania, the domestic branch of the US-based The Coca-Cola Company, which handles the marketing of Coca-Cola products on the domestic market, made profit worth 21.9 million...

Romania will borrow 180 million dollars from the World Bank to finance a transportation program worth 225 million dollars, according to a memorandum approved by the government on...

The Euro Habitat Company, developer of the Planorama residential project in Bucharest, estimates it will cash approximately 90 million euros for the sale of the 1,000 apartments in...

Hungarian airlines Malev, which currently operate flights to and from Bucharest, Timisoara and Tirgu Mures, will soon have flights to Constanta, said the company's representatives yesterday in a...

Retailer Kaufland Romania achieved sales of 3.7 million euros in the year of its entry on the local market, according to the financial report of the company. Its...

Romanian Export and Import Bank (Eximbank) will launch an insurance policy for foreign exchange risks. According to the terms of the insurance deal the bank would cover the...

Representatives of American, British and Canadian investors in Romania have sent a common request to the Ministry of Finance recommending changes in taxation policies that have not been...

Vodafone Romania launched the Vodafone Passport option, which enables customers in areas of roaming to make calls at national tariffs in exchange for a connection tax for each...

The increase of the price for raw materials last year turned Mittah Steel Galati's 370 million euros profit of 2004 into a 31 million euros loss. Other causes...

Power distributor E.ON Moldova registered a gross profit of 1.23 million euros and revenues of 307 million euros last year according to data provided by the company. Electrica...

The landline operator yesterday launched three integrated solutions packs dedicated to small and medium enterprises (SME), which include a high-speed Internet connection and terminals (phone, fax machines and...

uring its 35th anniversary, the Intercontinental Hotel, a Bucharest landmark and a symbol of Western capitalism during the communist period, decided to offer the national community a gift:...

Construction and services are the engine of the largest real-terms growth since 2000, despite the negative influence of affects on agriculture by bird flu. The gross domestic product...

TSL has been selected by ProTV, the leading channel in Romania, to provide systems integration for its new HD service. ProTV HD, which will launch later this year,...

Investment of about 10 billion euros is required for the Romanian energy system modernisation throughout 2010, representatives of the institutions concerned stated at a conference on energy issues....

The Romanian Ministry of Economy and Trade announced, for 2006, investments worth 827 million lei to be made by Romgaz, which is the main producer and supplier of...

Rompetrol Group, through its Exploration and Production Upstream Division (RU), is expected to start, in about three months' time, reactivating, testing and developing works on the Golesti gas...

Andreas-Noris Zahn AG, Frankfurt (ANZAG), one of the leading pharmaceutical retailers in Germany has acquired a 60% interest in Farmexpert DCI S.A. of Bucharest. The shares were sold...

Prospectiuni SA Bucharest, a company specialising in geological and geophysical prospecting, is considering entering the Arab market for hydrocarbons prospecting, eying countries like Egypt, Syria and Libya, the ...

Employees of an enterprise or company set up in an European Union (EU) member state and in the European Economic Area (EEA), posted to Romania, are to be...

Raiffeisen Housing Bank (RBL) plans to invest approx. EUR 6 M in 2006, the main strategic targets being distribution, product promotion and IT, according to a news release...

Vodafone Romania launched yesterday the option Vodafone Passport, which allows the clients in roaming to make calls at their national tariffs, in exchange for a connection fee paid...

Saatchi & Saatchi announced last week changes to its management structure. Cristina Oanta will be the managing director of the agency, while Radu Florescu becomes the CEO of...

Over 95 percent of the logistic and storing areas are occupied in the Bucharest ring road area, and the main investors placed so far 300 million euros in...

The value of the investments of the Italian group in the energy market from Romania amounts to around EUR 1 bln. The Italian giant Enel invests almost EUR 1...

Regional development agencies received, October 1, 2001 - December 30, 2005, 445 investment projects which value exceeds $1million each, with these investors benefiting from facilities according to the...

The Romanian Government approved the list of sub-programmes for investments in tourism as well as their financing for 2006 from the budget of the Ministry of...

Moody?s analysts stated that the decision was triggered by the improvement of Romania?s credit portfolio and by the low public debt value. Moody?s Investors Service yesterday announced it...

The elimination, according to the new Fiscal Code, of special taxes applied to owners in the sector of public utilities for placing electrical energy grids, natural gas and...

GfK Romania market research institute expects a turnover worth over three million euros in 2006, by around 17 percent higher than in 2005, when it scored 2.5 million...

The Korea Exchange (KRX), the nation's stock market operator, said it has signed a memorandum of understanding (MOU) with its counterpart in Romania to increase cooperation and information ...

India's Ranbaxy Laboratories Ltd. said on Thursday it had completed the acquisition of Romania's Terapia S.A. for $324 million after the Romanian competition regulator approved the deal. India's...

The Board of Directors from Dambovita-based company Elsid approved the increase of the share capital to some 43.1 million ROL. As a consequence of this move, the company's...

Direct sales company Amway Romania Marketing last year posted a turnover of 25.13 million USD, up by 62 percent over 2004. Company's general manager George Popescu explained that...

Romgaz this year has an investment plan of some 827 million RON. The main areas of activity aim at the increase of the production and storage capacities for...

GE Money has reached an agreement with the Romanian American Enterprise Fund (RAEF), which held a 78 per cent stake in Leasemart (owner of leasing company Motoractive), 80...

Argillon Romania, a producer of medium and high-voltage porcelain insulators, part of Argillon GmbH Germany, posted 500% higher sales in the first three months of the year compared...

E.ON Moldova, the electricity distributor that became part of the portfolio of the German based utility giant E.ON, posted a gross profit of 1.2 million euros and a...

Minister of Economy Codrut Seres and Russian IT & C Minister Leonid Reiman have signed a collaboration protocol in Moscow which provides, among other things, for setting up...

Fourty-four percent of representative Romanian companies selected by PricewaterhouseCoppers (PwC) for a survey about economic criminality said they have dealt with cases of fraud in the past two...

IT services and software solutions provider Transaction Systems Architects (TSA) set up a 200-employee branch in the city of Iasi. This year the company will hire 50 programmers...

Micro enterprises could be required to submit fiscal statements on their debts to the general consolidated budget quarterly and not monthly, as the current legislation provides, according to...

The company Continental Hotels will submit on June 16 the final prospectus (document that states a new issue security's price, delivery date and underwriting spread) for the company's...

The Romanian oil group Rompetrol could invest in the next four years over 27 million dollars in the development and exploitation of a natural gas field located in...

Alcatel has won the tender of the Special Telecommunications Services (STS) for the implementation of the communications system of the new EU border protection system. The company won...

Indian-born billionaire Lakshmi Mittal, ranked as one of the world's three richest people, lost money in Romania last year, as the local operations of his steel group concluded...

The state-owned Brasov-based heavy industry giants Tractorul and Rulmentul Brasov (URB), two of the most famous Romanian brands, have reported over 8,000 billion ROL in arrears, because their...

The Resita-based steel mill (northwest of Bucharest) held in the portfolio of Russian tube maker TMK made 210,000 euros in net profit last year, after having ended the...

Agrana Romania, the subsidiary of the Austrian group Agrana, posted 117.8 million euros in the financial year 2005-2006, which ended in February, a 52.3 percent increase as compared...

Romanian Minister-delegate for Trade Iuliu Winkler met his Irish counterpart Michael Ahern to discuss the current stage of the bilateral relations and the prospects for the two countries'...

Romanian-Dutch joint-venture Saan-Ruttrans of Cluj-Napoca has proved to be profitable since the very first month after its estsblishment in 2005, ACT Media news agency reports. The...

A new market for loans was created in Romania: small short-term loans loan granted at home, with 50% interest for six months. The company that identified the new...

Moody's Investors Service said it has placed the Romanian government's long-term Ba1 and short-term NP (Not Prime) foreign and local currency ratings on review for possible upgrade. ...

Lafarge Cement Romania, the local subsidiary of French group Lafarge, posted a 2005 gross profit of 52 million euros. The 2005 turnover recorded by Lafarge Cement stood at...

The Romanian government has expressed keen interest in having Indian energy companies tap Romania?s vast indigenous energy resource. In a bid to set the ball rolling, Romanian commerce...

After complaining about the time needed to obtain environmental permits, Smithfield officials who visited Romania last week have decided to proceed with the previous investment plans, ACT Media...

Romanian firm Mihai Mares Law Offices merged with Muniz Bernuy Abogados firm based in Spain, to set up Muniz Bernuy, Balms & Mares Co., the first law firm...

The most part of the investment is destined to Mamaia resort, as the sums assigned by the companies for the eight sectors of the rented beach reach RON...

3G network to be expanded to 20 cities by year-end, investments allotted by company to amount to EUR 23 M. Mobile operator Orange Romania yesterday launched in Bucharest and...

Some years ago, Romania would be a virtually negligible entity for luxury carmakers, but now she is gulping down some 4,000 limousines a year. The sum total may...

Porsche Romania remains, just like over the previous years, the strongest importer in the Romanian car market, so that out of the total of 42,271 imported cars, as...

Hotel owners on the Black Sea shore have made millions of euros investments in order not to miss the integration train and, implicitly, the potential of foreign tourists,...

The Italian Company Riso Scotti wants to re-establish the former rice plantations in Romania and intends to buy large areas of field for this crop by 2010, weekly...

Over 5.79 million Romanians have accessed the Internet at least once in May this year ? up 11.22% compared to April 2006 when the number stood at 5.21 ...

The Romanian agency managing agriculture and rural development funds received funding requests related to the European SAPARD program amounting to 334 million euro in May this year, a...

The Romanian PC market increased in the first quarter of this year by 35.9 percent as against the similar period of last year, with over 155,000 units sold...

The bad state of Romanian roads represents a major impediment for the development of tourism in Romania, when most foreign visitors come to Romania by car, the WTTC...

Dodge cars, a car make which has recently entered the sales list of Tiriac Auto Park will be presented as a first in Romania at an exhibition held over ...

Industrial units have collected from farms 226,126 tons of cow milk and 446 tons of sour cream according to centralized data of the National Statistic Institute. Following processing...

Romania will have 1,200 km of highway in 2012, according to the minister of transports Gheorghe Dobre. ?we will have about 1,200 km of highway completed by 2012,...

A kilogram of wheat produced in Romania in 2006 will be bought at 5,000 old lei. That is the reference price established by the Product Council, a body ...

The Rafinorul Union at the Rafo refinery has asked the president of the Authority for the Recovery of State Assets (AVAS) to accept the novation contract (substitution of...

Revenues collected at the general consolidate budget added up to 38.6 billion lei (10.93 billion euros) at the end of May, 20.1% up in nominal terms from the...

The European Property Convergence Company investment fund bought a 19 million euro class A office building situated in the Voluntari city near Bucharest from Impact Bucuresti yesterday. The...

Orange Romania launched its 'third generation' or 3G communication services, before expanding its coverage to another 16 cities by the year-end. Besides the regular voice and data services,...

The Romanian-based electricity transporter Transelectrica reported a 35 million euros net profit for 2005, up 46.5% compared to the 24 million euros in 2004. The larger profit is...

Up to 2,500 steelworkers could leave Mittal Steel Galati, receiving in exchange between six and 12 months severance pay and compensation between 14,000 (about 4,000 euros) and 18,000...

Romanian helicopter producer IAR Brasov reported for the first trimester of the current year a net profit amounting to 1.6 million euros, up 132 percent compared with the...

Companies will not have to pay, beginning with the date of Romania's accession to the EU, the 0.5 percent commission applied to the customs value of merchandise imported...

Companies which rented beach plots on the Black Sea shore must invest an aggregate sum of approximately ten million euros, according to a press release of the Dobrogea-Litoral...

Carpatica Commercial Bank (BCC) will commence procedures for the creation of an investment management firm and a mutual fund, according to a BCC announcement. BCC's managers approved the...

An analysis showed Romanians spent 25 percent more from their salaries on food and drinks compared to 2005, according to a study issued by the market research company...

In past years, Romania has modernized PUMA helicopters for the Emirates military and MIG 21 airplanes for Croatia. Romania has also delivered weapons and munitions to Iraq. The...

The cen.bank?s launching for public debate of the issue of the continually rising prices for real estate assets and the announced plans to monitor this market with a...

The 820 million euros paid by the Italian company Enel for Electrica Muntenia Sud represent more than two times the value of transactions for the privatization of the...

Consumer lending continued to expand at a fast pace in April, mainly fuelled, as seen in previous months, by the financing in RON. Consumer lending in April grew...

Germany's SAP company, the world's biggest business software producer, plans to open a near-shore consulting centre in Romania, Wolfgang Runge, general manager of SAP for the EMEA region...

Lafarge Cement, the domestic cement branch of French group Lafarge, last year derived gross income worth 52 million euros (188 million RON, calculated against an average exchange rate...

The coffee shop tends to become one of the trendy investments in Romania.In conjunction with their international operations, Starbucks company intends to inaugurate around 150 of its own...

BIT Software has released the Socrate Open solutions on the Romanian market, this being the first Open Source EAS product for corporate management. It includes functionalities such as...

Distrigaz Nord, the natural gas distribution company for the northern part of the country, got a new name and a new logo: E.ON Gaz Romania. This is a ...

The Dubai Department of Tourism and Commerce Marketing (DTCM) has expedited its overseas promotional drive with its first-time participation in the 'UAE in Romania' exhibition in Bucharest from...

Italy?s Enel will take over a stake accounting for 67.5 per cent of the equity of Electrica Muntenia Sud, for which it will pay EUR 820 M, the ...

The Steering Committee of the State Assets Resolution Authority (AVAS) has decided to revoke the offer to sell shares in the research-development institution National Institute of Road Vehicles...

Trade between Romania and the United Arab Emirates reached some 60 million USD in 2004, which is far below the real potential, according to participants in the Romania...

BIT Software has released the Socrate Open solutions on the Romanian market, this being the first Open Source EAS product for corporate management. It includes functionalities such as...

The shares up to 10 per cent of the share capital of Distrigaz and Electrica branches, to which the employees of these companies are entitled, will be sold...

The currency reserves of the National Bank of Romania (BNR) fell by EUR 80.3 M in May, to EUR 18.21 bln, the central bank announced yesterday. In-comings, represented...

The National Agency for SME and Cooperation (ANIMMC), the Romanian Agency for Foreign Investment (ARIS) and the governmental Business Environment Department will merge in the National Authority for...

The 10 percent share packages from the nominal capital of all the Distrigaz units and Electrica branches, to which the employees of the two energy companies are entitled,...

The Ministry of Economy will publish the announcement for the privatization of Romaero Baneasa and Avioane Craiova, announced Minister Codrut Seres on Sunday. The state, which holds 72.9...

The natural gas tariffs for domestic consumers will increase by 1-2% starting July 1, according to one of the directors within the National Authority for Natural Gas Settlement...

Supermarket chain Billa Romania reported for 2005 a 260 million euros turnover, 50% larger than the previous year, according to company data. The company's profit increased by the...

The net average salary in Romania increased by 1.3% in April compared to the month before, to 240 euros, mainly after the monthly and Easter bonuses, according to...

The Authority for the Recovery of State Assets (AVAS) decided to block the accounts of the Moldova Financial Investments Company (SIF). The sum AVAS wanted to block amounted...

Landline telephone operator RomTelecom launched a service that allows holding companies and its subsidiaries utilizing multiple phone lines to form a phone network that can connect with a...

SIF Banat-Crisana on Thursday purchased increased its stake in pharmaceuticals producer Biofarm to 10 percent through transactions made on the Bucharest Stock Exchange (BVB). The financial investment company previously held a 9.9 percent share in Biofarm. Other significant shareholders of the drug-producer are SIF Oltenia and SIF Moldova, both with ten percent shares of Biofarm's social capital. The company was founded in 1990 and has been privately owned since 1997. This year Biofarm set out to achieve a sales volume 23 percent higher than in 2005 and targets attaining an eleven percent advance in profit.

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The Ministry of Economy made the proposal to restructure Plafar, the state-held retail network specializing in medical herbs, by selling certain assets in order to pay for the...

Alstom Transport Romania will keep a low level of maintenance for Metrorex trains, as negotiations with the company on the payment of debts have failed, the Alstom announced...

Italian power company Enel SpA has won an auction to buy Romanian electricity distributor Electrica Muntenia Sud for euro820 million (US$1.06 billion), the Italian company said on Monday....

The Bucharest municipality and the European Bank of Investment (EIB) are negotiating a credit of 200 million euros. According to the head of the External Credits Department Cristina...

The biggest media group in Turkey, Dogan Media, has entered the Romanian market with a license for an entertainment channel, D TV, ACT Media news agency reports. ...

World Bank executive director Jan Willem van der Kaaij visited Romania between May 31 ? June 3, to discuss the WB projects for Romania, which ranks second in...

Russian Gazprom?s gas exporters Gazexport has sealed contracts with three Romanian state-owned gas companies, Romgaz, Transgaz and Conef. The contracts will provide Gazprom long-term access to gas shipping...

Importer of Iveco trucks and merchandiser of Pirelli tyres Cefin Romania will invest nine million Euro this year, including a new headquarters for its Eurobody bodywork plant. Cefin...

The completion of BCR?s takeover by Austria?s Erste Bank der Oesterreichischen Sparkassen AG is expected by the end of July this year, informs a press release of the...

In the last three years, the Romanian mortgage market kept constant at a yearly amount of new mortgage contracts of almost 600 million US dollars. The offer of...

?On the day it joins the European Union ? that is on January 1, 2007 - Romania will also become shareholder with the European Bank for Investments (EBI)...

The list of the largest South-East European banks, classified mainly by the amount of assets on December 31, 2005, includes 15 Romanian, 10 Croatian, 10 Bulgarian and 5...

In the next years Central and Eastern Europe will draw in substantial foreign investments that will be mainly directed towards the financial sector, real estate, the automotives sector,...

Romania's defence industry will certainly be partially privatised as of January 1, 2007, and what will be left under the state ownership will be smaller yet more flexible...

The Timisoara municipality to place the largest bond with a 20-year maturity, worth 150 million RON (42 million euros), to finance its local investments program. The consortium made...

The study says that while a person spends some 28% of her income on food in Poland, the percentage is double in Romania. And while 49% of the Austrian ...

In the first four months of the year, Romania?s trade deficit topped 3.4 bn euros, by 1.07 bn euros more than in the same period of the previous year, ...

Romanian paint producer Guzu Chim said on Wednesday is to invest about ¤4m ($5.1m) this year on finalizing work at a 250 tonne/day (91,250 tonne/year) paint production facility....

The first Ikea store, located in the Baneasa real estate project in Bucharest, will be completed by the end of this year, according to Conarg, the company which...

WIEE Romania, the domestic unit of WIEE, ended last year with losses, posting a minus of 0.4 million euros. In 2004, the company had reported net income standing...

Whilst Fathi Taher claims he holds 35 per cent in the hotel, Strabag, the most important shareholder, challenges the fact that the Taher owns 20 per cent of...

The Ministry of Transport, Constructions and Tourism (MTCT) might supplement the budget earmarking for the American Bechtel company for the building work on the Bucharest ? Bors motorway...

Romaero and Avioane Craiova share packages will be put up for sale this June, as part of the privatization process in the defence industry, says a release of...

The works at Bucharest-Brasov motorway (the section between Moara Vlasiei and Ploiesti) will begin probably on July 15, after the announcement of the tender's winner was published on...

The business community already expects negative effects to be triggered by the new Fiscal Code text. Rural tourism prices will thus increase. Officials for the National Association of...

Interbrew Romania, the third-largest player on the domestic beer market, broke even last year, after having posted losses of 3.4m euros in 2004. The brewer last year posted...

The second unit of the Cernavoda nuclear plant could start production June next year, three months later than initially scheduled due to delays in construction works, announced Nuclearelectrica...

The market of electronic and electrical home appliances last year reached 850m euros, after several years of growth spurred...

The reference price for the wheat produced this year purchased from farmers will be set at 0.5 lei per kilogram (14 eurocents). The decision was made by the...

Romanian authorities are considering new solutions for reducing the dependency on natural gas imports from Russia. The Romanian natural gas consumption amounts to 17-18 billion cubic meters, 30...

The Transelectrica Company will sell, through a primary initial public offer, a share package on June 14 worth about 35 million euros (123.14 million lei). Translectrica currently has...

The Administration Council of SIF Oltenia appointed Dinel Staicu as president and general director of the company last Thursday, according to a press release. The name of Dinel...

The National Authority for Communications (ANRC) will introduce in a law project transparent and non-discriminatory procedures for the access of network providers on public property. ANRC officials said,...

The Bucharest-Bors highway and the city belt of Cluj-Napoca will be among the first projects to benefit from the attention of the authorities. The Ministry of Transportation is...

The leadership of state-owned helicopter manufacturer IAR Ghimbav suggested the winner of the tender to supply public institutions with helicopters be compelled to also take over IAR Ghimbav....

Amrom Automotive 2006 recently created plans to take over the brand and assets of local off-road vehicle manufacturer ARO, according to Mihai Ciobanu, one of the company's shareholders....

Electricity distributor Electica will create in the following month its own telecommunications company that will supply voice, data and video services mainly through the power supplier's branches. The...

Agrana Romania, subsidiary of Austrian group Agrana announced for 2005 a turnover of 117.8 million euros, a 52.3 percent increase compared to the previous fiscal year. Agrana accounts...

Bursa quotes real estate analyst Artur Silvestri who claims that the "indebting drug" has created a feeling of happiness generated by the property on debts. Statements made by...

Turkey places eleventh in a classification of foreign investors, with 421 million euros, but ARIS representatives say if Western subsidiaries of Turkish companies which have invested in Romania...

Schlumberger has signed a USD $9.5-million software sponsorship agreement with Petroleum Gas University of Ploiesti. Through this agreement, Schlumberger will support the university?s programs by providing students ...

Romanian Public Finance Minister Sebastian Vladescu said after the government approved the new draft fiscal code on Wednesday that the micro-firms will continue to operate after 2007 as...

Romania's Central Bank (BNR) does not have in view imposing some restrictions for rising the interest rates for the mortgage or housing loans in order to limit them,...

The Austrian firm Erste Bank which bought 62% of BCR shares announced that the completion of the privatization process provides initially for next month will be delayed, ACT...

The total value of foreign direct investment in Romania could be around EUR 9 bln this year, compared to only EUR 5.2 bln. in 2005, including the money ...

The bankers who operate on the Romanian market are optimistic about the evolution of the non-governmental credit this year, but they expressed fear that the National Bank of...

The Romanian capital market, notably the stock exchange one, can develop, amid Romania's accession to the European Union, by a collective solution that should include the merger with...

Shareholders in the "Grupul industrial Voiculescu si Compania (GRIVCO)" SA in Bucharest decided to appoint Cristian Stanculescu as part of the company's Board of Directors. He will keep...

Scandia Romana SA, the producer of pate brands Sibiu, Bucegi and Cardinali, for the first quarter of the posted a 51 percent increase in the sales volume. This...

The Romanian-Dutch company Grandemar in Cluj-Napoca (central Romania) has earmarkedEUR 3 mln for investments this year, ACT Media news agency reports. The company specializes in extracting, processing and...

The According Group, an importer and distributor of products and parts used in thermo-insulating glass production, this year announced turnover worth about 12m. euros, 20% higher than in...

Businessman Fathi Taher, whose name is linked to the construction of the five-star JW Marriott Hotel in Bucharest, says he is against Societatea Companiilor Hoteliere Grand (GHES), the...

After the takeover of BCR by Erste Bank, the Austrians have come to own almost a third of the share capital of the banking sector in Romania. In ...

Market research has attracted, over a ten-year period, foreign funds amounting to approximately 20 million euros in Romania. The Romanian research market was estimated in 2005 at 23.19...

Young people represent about 23,4% of the 21,610,213 inhabitants of Romania, 5,047,866 persons with ages between 0 and 19 being registered on 1 January 2006. 4.9% (1,057,276) were...

Raiffeisen Bank Romania launched a new internet banking service for individuals after investing approximately 800,000 euros, said the bank's president Steven van Groningen. The Raiffeisen Online service allows...

The Ministry of Transportations, Constructions and Tourism (MTCT) started the canceling procedures of the contracts closed with Greek companies Efklidis and Prodeftiki, for the rehabilitation of a segment...

The Controlling Corps of the Minister of Economy and Commerce /MEC/ finalised the report which shows that there are breaches in the legislation and malmanagement in the domain...

Petrom announced that it transferred all debts on the Rafo SA refinery to Calder ?A International BV, a Dutch registered company. In a press release sent to the...

The total value of foreign direct investment (FDI) in Romania could reach nine billion euros considering the estimated inflow of 6.2 billion euros and the sums obtained from...

BRD-Groupe Societe Generale launched several financial services yesterday destined to the Small and Medium Enterprises (SMEs). The sums that can be granted start from 425 euros and max...

The Romanian Commercial Bank (BCR) and the brokerage company BCR Securities will mediate a bonds issue amounting to 42.5 million euros belonging to the Timisoara municipality. The bonds...

Companies that made significant investment in free trade areas before July 1, 2002 may benefit from an exemption for the payment of the profit tax by the end...

The Austrian real estate investment fund Europolis will invest 230 million euros in the purchase of two office building projects, according to a company statement, quoted by daily...

Equest Balkan Properties, a British-based real estate company, announced yesterday that it acquired the Jules Michelet office space complex for seven million euros. The offices are located near...

The Competition Council has authorized state aid be granted to companies that recycle used tires, in a 30 million lei (8.5 million euro) project initiated by the Ministry...

The Ministry of Economy and Commerce (MEC) requested the government allocate the necessary financial sources for the connection of certain towns in rural areas to the power network....

Luxten Lighting Company, one of Romania's best performing companies, posted a profit worth 22.6 million euros in 2005, up 28 percent on the 2004 profit. The company's turnover...

Concrete and aggregate maker General Beton Romania last year posted a 30-percent rise in turnover, reaching 16 million euros. However, the profit grew more slowly than the turnover,...

Triumf Construct SRL in Bucharest posted over 8.7 million lei in gross profit in 2005, when its turnover stood at 32,877,988 lei. The company buys plots of land...

The country borrowed 55 million euro in loans from the European Investment Bank to modernize the country's water infrastructure, Government of Romania reports. Bank President...

The Rompetrol Group intends to invest in the next two years more than 140 million dollars in the Petromidia refinery, continuing in this way previous projects that aim...

The Romanian production of net coal (prepared coal) reached 8.503 million tonnes in the first three months of this year, out of which 669,264 tonnes of net mineral...

The cost of the labor force in the auto industry is 17 times smaller than the one in Germany, the country with the highest paid employees in this ...

Cabot Corporation Chemicals (U.S.A.) producer is planning to build a factory for the production of carbon black, said Deputy Prime Minister George Copos. The representatives of Capot Corp...