Brand Finance
Photo: Brand Finance

Romania's nation brand drops in value but scores better in Brand Finance ranking

de Editorial Staff
Vineri, 11 Oct 2019 English | Business
The value of Romania's country brand has dropped in the Brand Finance ranking of nation brands this year, but the country scored better, advancing its rating, it was announced on Friday.
Tevi gaze
Photo: OMV Petrom

Romania's OMV Petrom reports new gas discovery in Oltenia, South Romania

de Editorial Staff
Miercuri, 9 Oct 2019 English | Business
Energy company OMV Petrom has reported the discovery of a new hydrocarbon deposit in Gorj county in the Southern Romanian region of Oltenia. The resources are located in the proximity of the producting field at Totea.
Ford Puma
Photo: Ford

Ford starts production of Puma SUV in Craiova, South Romania

de Editorial Staff
Marţi, 8 Oct 2019 English | Business
Ford Puma, the new city SUV from Ford, has entered series production in Craiova, South Romania. It is the first time that the factory there produces two models simultaneously under Ford ownership, reports.
Photo: Transgaz

Romania may become gas hub following deal between Transgaz and Austrian CEGH

de Editorial Staff
Marţi, 1 Oct 2019 English | Business
Romanian gas transmission company Transgaz informed its shareholders and investors on Tuesday that it has signed a deal with Austrian Central European Gas Hub AG (CEGH) to cooperate for the establishment of a Romanian Gas Hub, a joint venture to operate the Romanian Virtual Trading Point.

​Romania Energy Ministry risking destruction of major profit-making energy company through fusion with burdened colossus

Luni, 30 Sept 2019 English | Business
Romania's Energy Ministry is trying to save the Oltenia Energy Complex (CE Oltenia), a colossus facing major financial issues, by pushing for a merger: CE Oltenia to be absorbed by Hidroelectrica, a major energy company with considerable profit. That might mean that the whole Hidroelectrica profit be passed to cover due payments amounting to billions of RON in the name of CE Oltenia, a company which will close within years anyway.
Victor Prisacariu si Tim Cook de la Apple
Photo: Facebook

​Four Romanian entrepreneurs living in UK on their expectations about Brexit

Vineri, 27 Sept 2019 English | Business
As the date of October 31 when the United Kingdom is expected to leave the EU is getting nearer, startup news webiste has spoken with four entrepreneurs of the 500,000 Romanians living in Britain about their Brexit-related feelings.
Daniela Serban, presedinte ARIR
Photo: Arhiva personala

Bucharest Stock Exchange promoted to Secondary Emerging status in "historic decision"

de Editorial Staff
Vineri, 27 Sept 2019 English | Business
FTSE Russel has promoted the Bucharest Stock Exchange from Frontier to Secondary Emerging Market, a move which was hailed by Romanian authorities and market representatives. "It's the news of the year", the president of the Romanian Investor Relations Association (ARIR) told "A historic decision", the Finance minister said for his part.​
Deutsche Telekom logo
Photo: Deutsche Telekom

DT-OTE group reportedly agreed to sell Telekom Romania fixed-line operations to Orange / Government, intelligence services officials summoned to analyse situation

de Editorial Staff
Marţi, 24 Sept 2019 English | Business
The Deutsche Telekom - OTE group has reportedly agreed to sale stake in Telekom Romania to Orange, but they still need green right from the Romanian state, which would have pre-emption rights, sources close to the talks have told Romanian Communications minister Alexandru Petrescu offered PM Viorica Dancila on July 22 to create and coordinate a inter-ministerial group uniting representatives of multiple ministries and intelligence service and a first session of the group was called for Wednesday, September 25.
Marius Danut Carasol
Photo: Facebook

Top executive of Romanian energy company Transelectrica dismissed over diploma forgery suspicions

de Editorial Staff
Joi, 19 Sept 2019 English | Business
The top executive of Romanian major energy company Transelectrica, which is consider a strategic company, was dismissed on Thursday morning over allegations that he forged his faculty diploma. The decision to remove executive Marius Danut Carasol from office was made by the Transelectrica supervisory board.
Parcul eolian Cez
Photo: CEZ Romania

Romanian authorities alerted by major companies' plans to sell assets, planned regulation shows

de Editorial Staff
Marţi, 17 Sept 2019 English | Business
All companies in the enegy sector may be forced to notify Romania's energy market regulator ANRE with a minimum 12 months in advance about any intention to change their judicial statute, a draft order of the ANRE which has been submitted for public consultation says. The bill comes at a delicate time for the local energy market.
fakepath\Daniel Dines_UiPath
Photo: Hotnews

UiPath to host first global event for RPA community in Las Vegas

de Editorial Staff
Marţi, 17 Sept 2019 English | Business
Daniel Dines, the Romanian who is CEO and founder of UiPath company, will talk on relations between man and robot at the first global event for experts and users of the Robotic Process Automation technology, due to take place in Las Vegas, a company press release says.
fondatorii MorphL
Photo: Hotnews

Romanian startup selected in Techstars Montreal AI accelerator

de Editorial Staff
Miercuri, 11 Sept 2019 English | Business
MorphL, a Romanian startup developing AI technologies capable of learning and anticipating client behaviour, was admitted in a Canada-based accelerator, Techstars Montreal AI, less than two years since the company was established.
Structura importului
Photo: ANRE

​Mistery company becomes one of Romania's biggest gas importers

Miercuri, 11 Sept 2019 English | Business
Gas market stakeholders have been watching the spectacular evolution of a limited company with only two employees which has become one of the biggest gas importers in Romania. In April this year, it even became the biggest importer, temporarily, with over 50% of total imports. Voices on the market claim the strings behind the company may lead to Moscow.
Photo: Hotnews

​Huawei calls US official statements about Chinese company in Bucharest "unfounded" and "politically motivated"

de Editorial Staff
Marţi, 10 Sept 2019 English | Business
Huawei on Tuesday reacted to statements made by US Ambassador to Europe Gordon Sondland in Bucharest last week, in which he urged Romania to become "Huawei-free". The company issued its own statement calling Sondland's position "unfounded" and "politically motivated".
Parcul eolian Cez
Photo: CEZ Romania

CEZ Group tests sale of assets in Romania

de Editorial Staff
Luni, 9 Sept 2019 English | Business
CEZ Group has launched a market test for the sale of assets in Romania, including its wind farm in the region of Dobrogea and distribution operations in Oltenia region, a company press release says.
Curtea Europeana de Justitie
Photo: Wikimedia Commons

​Romania a step away from European sanction over restrictions on gas exports

de Editorial Staff
Marţi, 3 Sept 2019 English | Business
Romania's energy market regulator has launched an emergency process over changes related to a government ordinance applying restrictions to gas trades. The emergency is caused by the fact that later this month the European Commission may bring Romania to justice over the said restrictions.
Benzinarie ART
Photo: Artoil

Romanian OMV branch attempts to take over several of Russian oligarch's gas stations

de Editorial Staff
Luni, 2 Sept 2019 English | Business
Romania's Competition Council is analysing a deal by which a local branch of OMV Petrom, OMV Petrom Marketing SRL, takes over Art-branded gas stations controlled by a company called Art Petrol SRL. The company is controlled by Russian oligarch Rishat Safin, who years ago served as top executive at Lukoil and headed the Lukoil Europe Holdings.
Sorin Mandrutescu
Photo: Arhiva personala

Oracle Romania manager Sorin Mindrutescu under inquiry by anti-graft prosecutors - official announcement

de Editorial Staff
Joi, 8 Aug 2019 English | Business
Romania's National Anti-Corruption Department (DNA) announced officially on Thursday that a criminal inquiry has been launched in the case of the general manager of Oracle Romania, Sorin Mindrutescu, on 8 accounts of bribe taking. A EUR500,000 bail was set, which Mindrutescu must pay by Friday. He is acucsed of receiving almost EUR870,000 from representatives of IT companies to give them advantageous offers of Oracle products, so that these companies be able to join tenders launched by state institutions.
Stema DNA
Photo: Wikipedia

Oracle Romania faces raid by anti-graft prosecutors - sources

de Editorial Staff
Miercuri, 7 Aug 2019 English | Business
Prosecutors for the National Anti-corruption Department (DNA) were running investigations at the HQ of Oracle Romania company in Bucharest, in a case of suspected private business coruption, judiciary sources told news agency Agerpres. It appeared that the head of the local branch was the target of the investigation.

Business coalition takes stand on Romanian government over failure to consult about new taxes

de Editorial Staff
Miercuri, 7 Aug 2019 English | Business
A major group of business and influential associations stood up again on Wednesday to challenge the Romanian government over its lack of consultations and transparency over taxation measures. The Coalition for the Development of Romania thus reacted to a set of tax and budgetary measures announced by the Finance Ministry.


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