A Romanian to lead the center in charge with the market studies for future Dacia and Renault productsRomanian Liviu Ion will manage, starting this Fall, the center for market studies of Groupe Renault in Bucharest, which conducts market research in the Euromed region for all future Renault products. The center picks up feedback from clients to find out what they believe about models that will be released in four – five years. Liviu Ion was chief of communication at Dacia in the last six years and his position will be occupied by Anca Oreviceanu.
Innova Capital takes over Provus Services Provider and RomCardPrivate Equity fund Innova Capital took over 96% of the shares of Provus Services Provider and its subsidiary , RomCard from Turkven Private Equity and a consortium of Turkish investors, a press release of the company reads. This is Innova’s third direct transaction in Romania after the acquisition of Orange Telecom in 1999 which it sold to France Telecom and after it took over La Fantana in 2008.
A Ford supplier invests 58 million euro in a car parts factory in Oltenia International Automotive Components Group, IAC, one of the main suppliers of car parts for Ford Motor Company will invest 58 million euro in a factory at Bals, Olt county. The factory will produce various parts for Ford Craiova, the company announced. It will employ 400 employees and the Romanian state will offer 17 million euro as aid for the project.
Foreign direct investments dropped by 25.5% in the first 11 months of 2010 Foreign Direct Investments ncreased in the first 11 months of 2010 to 2.26 billion euro, a 25.5% drop compared to the similar period in 2009 of 3.04 billion euro, Romania’s National Central Bank data reads. Direct investments of non residents in Romania financed by 43.9% the current account deficit in January – November 2010 which increased to 5.17 billion euro.
Inflation increased to 7.96% in December The annual inflation rate increased in December to 7.96%, the biggest contributor was the increase of prices for non food products by 9.76% and especially prices for tobacco and fuel, Romania’s National Statistics Institute reads. In December 2010, consumption prices increased by 0.53%.
Proprietatea Fund to be listed on January 25The Bucharest Stock Exchange Council decided in a meeting on Thursday to allow Proprietatea Fund shares to be listed on the market with the FP symbol, a press release of the market operator reads. Stock Exchange President Stere Farmache declared that several important foreign institutional investors will be interested in the new stokes and this will have a positive impact on the market liquidity.
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