ECONOMY

Romania, Canada sign additional protocol to nuclear cooperation agreement

Nine O' ClockJuly 31, 2015

by Nine O' ClockJuly 31, 20150312

State Secretary for Strategic Affairs with Romania’s Foreign Ministry (MAE) Daniel Ionita and Canada’s ambassador to Romania Joanne Lemay on Friday signed an additional protocol...

ECONOMY FINANCE&BANKING

Teodorovici: Fiscal Code stays as adopted by Parliament, gradual implementation ineffective

Nine O' ClockJuly 31, 2015July 31, 2015

by Nine O' ClockJuly 31, 2015July 31, 20150196

The Fiscal Code stays as already adopted by the Parliament, since a gradual implementation of its measures is unlikely to bring the desired effect for...

ECONOMY FINANCE&BANKING

Finance Minister: Second budget amendment scheduled for October

Nine O' ClockJuly 31, 2015July 31, 2015

by Nine O' ClockJuly 31, 2015July 31, 20150216

The second budget amendment of the year will take place at the end of October and will be preceded by a an analysis of spending...

COMPANIES ECONOMY

Fertilizer distributor Redoxim sold to Origin Enterprises for 35m euros

Nine O' ClockJuly 31, 2015

by Nine O' ClockJuly 31, 20150241

One of the leading fertilizers distributors in Romania, Redoxim, will be taken over by the Irish group Origin Enterprises, under a transaction of 35 million...

COMPANIES ECONOMY

“Arab Elephant” to be followed by another 200 manufactured at Vulcan Bucharest

Nine O' ClockJuly 31, 2015

by Nine O' ClockJuly 31, 20150177

The most efficient oil rig will be delivered to the Persian Gulf SC Vulcan S.A. CEO Remus Vulpescu emphasized: “The new oil rig dubbed...

COMPANIES ECONOMY

Tarom plans to completely renew whole fleet with Airbus and Boeing

Nine O' ClockJuly 30, 2015

by Nine O' ClockJuly 30, 20150233

Tarom plans to completely renew its fleet of aircraft and to replace its current Airbus A310s, A318s and ATRs used for short-distance flights with new...

ECONOMY FINANCE&BANKING

Capital flees from Romanian banks

Nine O' ClockJuly 30, 2015

by Nine O' ClockJuly 30, 20150180

Under this headline, the ‘Romania Libera’ daily emphasizes that the foreign banking groups’ exposure on Romania is dwindling by the year. The dramatic situation in...

ECONOMY FINANCE&BANKING

New loans extended by banks, up to RON 5.4 billion, 280 million euros in June 2015

Nine O' ClockJuly 30, 2015

by Nine O' ClockJuly 30, 20150208

In June 2015, banks in Romania extended new loans denominated in the local currency, the leu (RON), worth RON 5.4 billion, up from RON 5.09...

ECONOMY ENERGY

Energy Minister on state-owned companies: Unlike the new PDL, Ponta Gov’t has not abandoned them

Nine O' ClockJuly 30, 2015

by Nine O' ClockJuly 30, 20150164

Energy, SMEs and Business Environment Minister Andrei Gerea, Vice President of ALDE, has stated that “the new political partners that got hold of PNL, those...

COMPANIES ECONOMY

State to sell through open outcry auction 26.69 pc of its Rompetrol Rafinare shares

Nine O' ClockJuly 29, 2015

by Nine O' ClockJuly 29, 20150216

The state will sell through open outcry auction a package of shares representing 26.69 per cent of Rompetrol Rafinare’s registered capital, for a price not...

COMPANIES ECONOMY

Breath of fresh air for CFR Marfa

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150253

* The company will transport coal for the Oltenia Energy Holding in the next three years CFR Marfa announces the signing of a contract...

COMPANIES ECONOMY

Orange Romania posts 453.9 mln euros in revenues, has 10.205 mln clients in H1

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150174

Orange Romania posted 453.9 million euros in revenues in the first six months of this year, with 232.8 million euros of it being made in...

ECONOMY FINANCE&BANKING

Fiscal Code, the code of discord

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150238

MPs will return from their holidays a week earlier. They were summoned for an extraordinary session on August 24-26, in order to discuss the President’s...

ECONOMY FINANCE&BANKING

Prime Minister : Budget amendment is positive and the fundamental constitutional rights are covered

Nine O' ClockJuly 28, 2015July 28, 2015

by Nine O' ClockJuly 28, 2015July 28, 20150169

The budget amendment is positive and the fundamental constitutional rights are covered, including for 2016, Prime Minister Victor Ponta said on Tuesday at the beginning...

ECONOMY FINANCE&BANKING

A lot of money on the financial market * Finance Ministry asks for a loan of RON 300 M and the banks offer RON 1.44 bln

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150436

The Public Finance Ministry (MFP) has borrowed on Monday RON 300 M from banks, by issuing six-month government bonds at an average yield of 1.21...

BUSINESS ECONOMY

CFA macroeconomic confidence index down in June

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150205

The macroeconomic confidence index calculated by CFA Romania (the association of Chartered Financial Analysts) dropped by 6.4 percent in June to 70.8 percent, as analysts’...

ECONOMY FINANCE&BANKING

Competition Council starts investigation on insurance market

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150173

The Competition Council has started, ex officio, an investigation into the possible infringement of national and European competition rules on the part of Media Xprimm,...

ECONOMY FINANCE&BANKING

Budget amendment positive, 4 billion lei more than set in budget law

Nine O' ClockJuly 28, 2015

by Nine O' ClockJuly 28, 20150195

Prime Minister Victor Ponta said on Monday that the budget revision that was going to be approved by the Government on Tuesday was positive and...

COMPANIES ECONOMY

Adrian Pascu, Danone South East Europe CEO

Nine O' ClockJuly 27, 2015

by Nine O' ClockJuly 27, 20150425

Starting on August 1, Adrian Pascu will take over as CEO for Danone’s South East Europe dairy division, being set to lead the management team...

AGRICULTURE ECONOMY

Agricultural production, up 2.9pct, in 2014

Nine O' ClockJuly 27, 2015July 27, 2015

by Nine O' ClockJuly 27, 2015July 27, 20150304

Vegetal and animal productions and agricultural services recorded increases in 2014, and thus agriculture saw a 2.9pct advance from the previous year, according to the...

COMPANIES ECONOMY

IAR Brasov reports record profit in H1

Nine O' ClockJuly 26, 2015

by Nine O' ClockJuly 26, 20150258

IAR Brasov has registered a profit of RON 31.7 M in the first half of this year, 19 times higher year-on-year (RON 1.6 M in...

ECONOMY MARKETS

AeRO market to grow with another 40 companies , as of July 29

Nine O' ClockJuly 25, 2015

by Nine O' ClockJuly 25, 20150225

A number of 40 companies operating in various sectors of the economy will debut, on July 29, 2015, on the AeRO market, following their transfer...

COMPANIES ECONOMY

Turbomecanica posts 892,479 lei loss in H1

Nine O' ClockJuly 25, 2015

by Nine O' ClockJuly 25, 20150239

Turbomecanica posted a loss of 892,479 lei in the first half of 2015, according to financial results made available to the Bucharest Stock Exchange on...

BUSINESS ECONOMY

PM Ponta: It’s high time for measures to support business

Nine O' ClockJuly 25, 2015

by Nine O' ClockJuly 25, 20150203

It is now high time to take measures that support the business environment, create jobs and raise the living standard, says Prime Minister Victor Ponta...

ECONOMY FINANCE&BANKING

Development Ministry seeks solutions to increase EU funds’ absorption

Nine O' ClockJuly 24, 2015

by Nine O' ClockJuly 24, 20150220

Development Minister Sevil Shhaideh has talked on Friday with the heads of the structures administrating the European funds and the representatives of the National Coalition...

ECONOMY FINANCE&BANKING

Central bank governor Isarescu: Fiscal Code is inapplicable both in economic and financial terms

Nine O' ClockJuly 24, 2015July 24, 2015

by Nine O' ClockJuly 24, 2015July 24, 20150227

The draft Fiscal Code is inapplicable both in economic and financial terms, governor of the National Bank of Romania (BNR, the central bank) Mugur Isarescu...

COMPANIES ECONOMY

Vodafone Romania portfolio exceeds 8.8m customers on June 30, 2015

Nine O' ClockJuly 24, 2015

by Nine O' ClockJuly 24, 20150244

The number of Vodafone Romania subscribers reached 8,801,590 on June 30, 2015, up by 233,838 customers from the same period a year earlier, according to...

ECONOMY FINANCE&BANKING

CEC Bank launches promotional refinancing loans campaign

Nine O' ClockJuly 24, 2015

by Nine O' ClockJuly 24, 20150191

CEC Bank is launching a promotional campaign for RON-denominated refinancing loans without mortgage, offering its clients the possibility of efficiently and advantageously managing their current...

COMPANIES ECONOMY ENERGY

OMV Petrom introduces mobile gas station concept

Nine O' ClockJuly 24, 2015July 24, 2015

by Nine O' ClockJuly 24, 2015July 24, 20150604

OMV Petrom’s first 10 mobile gas stations will open on Romania’s A1 and A2 highways * The stations will operate under the Petrom brand ...

ECONOMY

Total freight traffic through Romanian seaports up by 22.6 pct in H1

Nine O' ClockJuly 23, 2015

by Nine O' ClockJuly 23, 20150207

The total freight traffic recorded in the Romanian seaports amounted to 27.8 million tonnes from January 1 to June 30, 2015, a 22.6 percent uptrend...