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Report: No inquiry on abuse of dominant position finalized by Romania Competition Council
Romania's Competition Council has made significant progress but is still lagging behind when it comes to applying anti-competitive practices, a report of the World Bank shows. According to available data, the Competition Council opened 30 cases of cartel operations and four cases of dominant position abuse during 2007-2010. But it only concluded seven cartel operation inquiries and has yet to finalize any of the cases of dominant position abuse, despite six of these had been opened before 2007.
Yahoo! launches Romanian language version
The Romanian version of the Yahoo! portal has become active at http://ro.yahoo.com/,
while the Yahoo! mail can also be accessed in Romanian. Yahoo! offers a
light version in Romanian, with much less content than versions in
major languages. The launch comes after many postponements over the
past two years.
Tnuva closes Romanian farm on financial consideration
Israeli company Tnuva will halt its cowshed activity in Romania, with representatives of the milk producer saying the decision was made on financial considerations, according to ynetnews.com. Tnuva has some 1,2 milk cows in Romania, covering 25% of the local production of the company.
Investments in Romanian energy projects postponed or abandoned
The viable units of Romanian energy company Termoelectrica will be separated and the rest of the company operations will be closed by mid-2011, according to information provided to HotNews.ro by the Economy Ministry. The scenario is included in the letter of intention signed by the Romanian authorities with the IMF and will be applied separately from the creation of two major national energy companies, Electra and Hidroenergetica. The fate of several power plants remains uncertain as some of the investments announced with fanfare in 2008 appear to be just an illusion.
Negotiations between BCR management and employees fail
Negotiations between trade unions and the management of the Romanian Commercial Bank - BCR have failed. BCR trade union representatives told HotNews.ro on Friday that starting today the employees no longer have a collective work contracts. Two employees have threatened hunger strike starting Monday, March 7.
Vodafone head Vittorio Colao in talks with Romanian PM Emil Boc
Romanian PM Emil Boc and Communications minister Valerian Vreme scheduled a meeting at noon on Friday with the head of Vodafone group Vittorio Colao and the head of Vodafone Romania Inaki Berroeta. According to Vodafone data, the talks were to focus on the evolution and perspectives of the telecom sector in Romania. The meeting comes a couple of weeks since Romania's Competition Council decided to fine Orange and Vodafone some 63.1 million euro for abuse of dominant position on the local market.
Report: Whole structure of Romanian Finance Ministry must be reconsidered
The apparatus of the Romanian Finance Ministry is too complicated, has little efficiency and in some areas is affected by corruption suspicions, according to a report produced by one of Romania's foreign lenders. While France, with a population three times bigger than Romania's, has 990 employees at the Finance Ministry and Germany has some 1,300, Romania's ministry has no less than 1,432 employees.
Cosmote is first Romanian operator to report number of iPhones it sold in Romania
Some 2,500 iPhone terminals have been sold in Cosmote and Germanos stores since mid-December, Cosmote Romania commercial manager Panos Makris announced on Thursday. Cosmote and Vodafone put the iPhone terminal on sale on the Romanian market in mid-December, several months after Orange was the first to distribute the terminal in the country.
Lukoil plans to build solar and wind energy parks in Bulgaria and Romania
Russian group Lukoil eyes the development of renewable energy projects
in Bulgaria and Romania, company representative Vasily Zoubakine has
told RIA Novosti. As Russia did not have a system to support energy
alternatives, the Lukoil investments are focused abroad, including on
countries where Lukoil is present, such as Bulgaria and Romania, wher
the company plans to build wind and solar energy farms, he said.
Romania economy down 1.3% in 2010, according to revised data
Romania's GDP dropped 1.3% in 2010 as compared to 2009, according to the data of the National Statistics Institute (INS), which reviewed negatively its data on the evolution of the Romanian economy last year. INS announced in mid-February that the Romanian economy shrank 1.2% in 2010.
Bloomberg: Rompetrol group willing to get loan to cover debt to Romania
The Rompetrol group may issue bonds or get a loan should it reach an agreement with the Romanian government on paying its debt to the Romanian state, Tolegen Boznajov, chairman of the group, said in Almaty on Wednesday, as quoted by Bloomberg.
Analysts' perception on Romania economy prospects improves
The economic prospects of Romania for the next six months have improved, according to a poll by German institute ZEW and Erste Bank among financial analysts. The respondent's expectations about the evolution of inflation and of the Bucharest stock exchange evolved negatively, however, according to news agency Mediafax. Overall, the current economic situation in Romania is seen way better by analysts now than in the Q4 2010 poll in this regard.
Competition Council analyzes Boom TV takeover by Romtelecom
A notification about the transaction by which Romanian telecom operator Romtelecom takes over the subscriber base and other assets of DTH Television Grup, the owner of digital television Boom TV, has reached the Competition Council. The institution is currently analyzing the transaction, Council officials told HotNews.ro.
Dacia to stop production of Logan VAN but will build new utility car in Morocco starting early 2012
Dacia will stop production of Logan VAN next year, but the company will start production of a utility vehicle at its Tangier, Morocco plant starting early 2012, Vincent Carre of Renault announced at the auto show in Geneva on Tuesday.
PM Boc says new Labor Code will help Romanians find work more easily
The Government is changing the Labor Code so that Romanians find better paid work more easily, Romanian PM Emil Boc said on Monday. The Government adopted a series of changes to the Labor code and sent them to Parliament to set a date when it would assume responsibility over the bill. "If one does his job and performs well, the law will protect him", Boc said.
Romtelecom in 8 mln euro deal to take over Boom TV subscribers
Romanian telecom company Romtelecom signed last week a contract to take over the subscriber base and other actives of DTH Television Grup, the owner of digital satellite television Boom TV, for which it offered 8 million euro, Adrian Lotrean, partner at Transilvania Insolvency House, the judicial administrator of the company, told HotNews.ro. Romtelecom's was the only firm offer submitted for Boom TV, a satellite TV service operator with 95,000 subscribers.
EFG Eurobank: Romania economy to recover starting second half of 2011
Estimations show the Romanian GDP dropped by 1.2% in 2010 as compared to 2009, less than the 1.8% drop expected by EFG Eurobank and other entities on the market, while on seasonally adjusted data the GDP grew by 0.1% in Q4. The news is positive as it may signal the end of the recession, says a report of the EFG Eurobank, the Greek company controlling Romanian bank Bankpost.
Volksbank Romania board member leaves bank
Simona Fatu, a member of the Volksbank Romania board, will leave the position starting March 1, according to a press release of the bank. She joined Volksbank as corporate director on its establishment on the Romanian market in 2000, then became vice-president of the bank in 2006. Following an audit of the bank, which HotNews.ro reported about, her name appeared in an inquiry over internal irregularities at the bank.
PM Emil Boc: Supermarkets may be forced to reserve 30% of space to Romanian products
The Romanian government was analyzing a proposal from employers' unions to force supermarkets reserve 20 to 30% of their space to Romanian products, PM Emil Boc said on Friday. He made the statements following talks with employers' and trade unions on planned changes to the Labor code and on measures to improve the business environment.
UPC lost over 93,000 clients in Romania in 2010. Rumors of possible sale emerge
UPC lost over 93,000 clients in Romania last year, reaching 1.15
million subscribers and a fall on all segments - TV, internet and wired
telephony, according to data published by owner Liberty Global. The
negative evolution is explained by the UPC management as the result of
the worsening economic climate which put pressure especially on
small-income clients. The results come as a Romanian journalist,
Catalin Tolontan, claimed on his blog
on Thursday that another telecom company, RCS&RDS, was negotiating
the acquisition of UPC in Romania, while economic newspaper Ziarul Financiar developed the story quoting market sources who it says confirm the allegations.
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