BUSINESS
Top government official says investors call for re-consideration of classified info on mineral and oil resources Romania's government would push for a re-consideration of categories of classified information regarding mineral, oil and gas resources. This comes at the request of investors in these sectors, which was made during working sessions with representatives of the government, a top government official said on Thursday.
Distraint set on Romanian energy major's shares over state debt to business brothers The business people of Romanian origin known as the Micula brothers and their companies have managed to set a distraint on 67 million shares held by the Romanian state in major energy company Nuclearelectrica. This comes as coverage for a debt amounting to Eur 395 million the Romanian state has to pay the Miculas.
Huawei Vice-President Caherine Chen on Romania aligning to US stand on 5G: company trusts access to 5G would not be cut Huawei Vice-President Catherine Chen hopes Romania would not align to the US position on banning the access of the Asian giant to building 5G networks in Romania, but would act based on facts, tests and risk assessments. The way that, she says, is pursued in countries like Britain, France or Germany or by the European Commission.
In Romania, news that Exxon Mobil plans biggest sale of assets comes against statements by President Iohannis News that Exxon Mobil is planning to sell up to USD 25 billion of oil and gas field across the world to focus on mega-projects, as reported by Reuters on Thursday, contrasts, when in comes to Romania, whith statements made by incumbent president Klaus Iohannis in an electoral debate earlier this week.
Romania economic growth slows down in Q3 - flash data The growth of Romanian economy stood at 0.6% in Q3 this year, as compared to the previous quarter. Compared to Q3 2018, the GDP gre 3.0%, while yoy growth for the first nine months of the year was of 4.0%, according to flash data of the National Statistics Institute on Thursday.
Orange picks Romania as first country for 5G commercial network Romania is the first country where Orange group is launching its 5G network and commercial services, a top company officials announced on Tuesday. Orange is the third operator after Vodafone and Digi/RCS&RDS to launch 5G services in Romania.
Romanian telecom regulator head provides one more confirmation of possible Telekom sale A possible sale of Romania's telecom operator Telekom, controlled by Deutsche Telekom/OTE with a stake still in the hands of the Romanian state, was once more confirmed by a Romanian authority on Thursday.
Romania's first news channel Realitatea TV to close for bankruptcy causes, audiovisual council decides / New channel to take place The first news TV channel in Romania Realitatea TV is due to end emission starting Thursday as Romania's audiovisual council CNA did not agree to extend its audiovisual license. The reason is linked to the bankruptcy ordered in Realitatea TV's case after eight years of insolvency, a bankruptcy which, while not concluded, prevented the channel from delivering the necessary proof it can operate lawfully. A new channel with the same people, Realitatea Plus, is expected to take its place.
Romania may lose 275k jobs due to automation - PwC About 600,000 jobs in Romania would be affected by digital changes caused by new technologies, according to the PwC Workforce Disruption Index. Of these, 275,000 may be replaced by automation, the report says.
Up to 400 employees of UiPath unicorn company facing layoffs Some 400 employees of Romanian unicorn UiPath are facing layoffs which would impact business areas which are not aligned to the main focus of the company, an UiPath spokesperson told Romanian website StartupCafe.ro. He thus reacted to information first published in international media that the company is about to fire personnel.
​​INTERVIEW Airbus Vice President: There is a risk of moving helicopter factory from Brasov to another country / Why helicopter model remained on paper only despite potential Why keep something that does not exist - or the building exists, but is not producing helicopters? So asks Airbus Vice President Olivier Michalon in an interview with HotNews.ro, regarding the factory Airbus opened near the city of Brasov, Central Romania. The factory was due to produce the H215M helicopter model both for the Romanian Army and for export. But the project remained on paper only as Romania did not issue any order.
Romania's nation brand drops in value but scores better in Brand Finance ranking 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.
Romania's OMV Petrom reports new gas discovery in Oltenia, South Romania 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 starts production of Puma SUV in Craiova, South Romania 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, 0-100.ro reports.
Romania may become gas hub following deal between Transgaz and Austrian CEGH 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 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.
​Four Romanian entrepreneurs living in UK on their expectations about Brexit As the date of October 31 when the United Kingdom is expected to leave the EU is getting nearer, startup news webiste StartupCafe.ro has spoken with four entrepreneurs of the 500,000 Romanians living in Britain about their Brexit-related feelings.
Bucharest Stock Exchange promoted to Secondary Emerging status in "historic decision" 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 HotNews.ro. "A historic decision", the Finance minister said for his part.​
DT-OTE group reportedly agreed to sell Telekom Romania fixed-line operations to Orange / Government, intelligence services officials summoned to analyse situation 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 HotNews.ro. 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.
Top executive of Romanian energy company Transelectrica dismissed over diploma forgery suspicions 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.

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