BUSINESS
Economy minister sees EBRD involved in listing of Romanian energy major Hidroelectrica Romania's Economy minister Virgil Popescu said in an interview with HotNews.ro on Thursday that works was underway for the listing of major energy company Hidroelectrica. He said his government wanted to list it on the exchange this year.
OMV Petrom interested in Bulgarian Black Sea gas Romanian oil major OMV Petrom eyes the takeover of the stake held by OMV Offshore Bulgaria GmbH in the Han Asparuh exploration field in Bulgaria, by buying the stake from OMV Exploration&Production GmbH. THe company says certain conditions have to be met before the conclusion of the deal, which is expected to take place before mid-2020.
ArcelorMittal plants threatens with suspended production over energy prices despite EU figures A Hunedoara, Romania-based plant controlled by ArcelorMittal has threatened to suspend production as a reaction to market conditions and high energy prices. The threat came a day after Romanian PM Ludovic Orban himself also talked about state assistance that should be given to siderurgic and petrochemical companies because of high energy and natural gas prices. But official figures are different than those circulated by the PM and ArcelorMittal.
​S&P revises outlook on Romania to negative over deficits S&P Global Ratings has revised its outlook on Romania from stable to negative due to rising fiscal and external deficits, while affirming its long- and short-term foreign and local currency sovereign credit ratings at 'BBB-/A-3'. It pointed to planned wage and pension increases largely decided by the previous Social Democratic government as contributor to widening the country's current account deficit.
Romanian startup FintechOS raises $14 million in Series A investment FintechOS announced today that it has raised a 14 milion USD 14M Series A round to continue its hyper accelerated growth and further development of the platform, StartupCafe.ro reports.
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.

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