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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.
Romania National Bank left without electricity for 20 minutes. "An incident", provider says
Romania's National Bank (BNR) was left without electricity for about 20 minutes on Friday because of an "incident", as electricity provider Electrica put it when contacted by HotNews.ro. The BNR department which includes services such as monetary policy operations, treasury operations and the administration of international reserves used alternative resources once the electricity was cut.
Major Romanian bank BCR employees to protest on Friday
Employees of major financial group Romanian Commercial Bank (BCR) will organize street protests on Friday against what they call a lack of social dialogue, the elimination from working contracts of bonuses according to bank performance and the refusal to have their salaries indexed by 50% of the inflation rate, BCR trade union leader Ciprian Ionescu has told HotNews.ro.
Government official: Romania to have 1,000 km of highway built in public-private partnerships by 2020, is interested in Gulf investors
Romania will have some 1,000 km of highway built in public-private partnerships by 2020, PM aide Andreea Paul Vass said on Thursday. She said that 250 km of highway were planned to be completed by 2011. Vass said the government was hoping to lure investors from Gulf countries such as Saudi Arabia, UAE, Bahrain, Oman, Kuwait and Qatar.
Nine Ford providers produce components in Craiova plant, other four to open factories in industrial plant near SE Romanian city
Nine internal providers of Ford are currently producing various components within the Craiova, South Romania factory of the company, while at least four other car component providers may open production units in an industrial park near the city, Dolj County Council official Ioan Prioteasa has said. He mad the statement during a press meeting at the launch of construction works at the IAC Bals factory.
Dacia Duster gets three stars only in Euro NCAP safety tests -4Tuning
Dacia Duster has received 3 stars in the Euro NCAP (European road safety authority) tests, according to specialized website 4Tuning. The source notes this makes Duster pale in comparison with other low cost SUVs such as Mitsubishi ASX, Nissan Qashqai or Hyundai ix35, which received five stars.
Romanian Finance minister: A cut in social contributions for employers currently analyzed
The current Labor code has to be changed as more flexibility on the labor market cannot be accomplished without a cut in social contributions, Romanian Finance minister Gheorghe Ialomitianu said during a conference on Wednesday. He said authorities were analyzing the scenario as labor costs in Romania were high and many have claimed the government was not supporting firms.
Economy Ministry: Romania Government to privatize Oltchim next year
The Romanian Government has initiated procedures for the privatization of Oltcim SA Ramnicu Valcea chemical company, the Economy Ministry announced on Tuesday. It showed that according to a draft letter of intention agreed by the Romanian Government with the IMF, World Bank and the European Commission, the Oltchim privatization is due to be launched in the first half of 2012.
INTERVIEW Romania Economy ministry may remain with 51% stake in most important state company Hidroelectrica
Romanian energy company Hidroelectrica may be listed as early as next year should the strategy establishing two major energy groups, Electra and Hidroenergetica, fail before the end of 2011. Packages of 10-15% of Hidroelectrica shares will be put on offer gradually so that the Romanian state retain a minimum of 51%, Hidroelectrica, general manager Constantin Trihenea has told HotNews.ro in an interview. He said all direct contracts concluded by the company with influential people known locally as "the smart guys" - intermediaries in energy deliveries - have been prolonged.
Over 10 Romanian companies to attend the IT fair CeBit Hanovre
Over ten Romanian companies will attend the most important European technology fair, CeBit Hanovre that starts on March 2nd. Among the companies are the producer of the AllView tablet and the producer of Smailo GPS. The National Software Industry in Romania claims that compared to 2009, the IT industry regained its balance together with the interest of foreign investors.
ZEW and Erste survey: Romania’s economic perspectives for the next six months improved
The perception of financial analysts on Romania’s economic evolution for the next six months improved in February as Romania was place on fourth in Central and Eastern Europe in a perspectives survey conducted by Zentrum fur Europaische Wirtschaftsforschung (ZEW) and the Austrian Erste group, Romanian news agency Mediafax reports.
Rockefeller Group plans to invest over 100 million euro in the real estate market in the region including Romania
Europa Capital, member of the American Rockefeller Group plans to invest over 100 million euro in the real estate sector in the region, including Romania, Novinite reports. The private equity fund, targeting mostly the real estate market, already purchased a commercial park at Plovdiv, Bulgaria’s second largest city for 20 million euro.
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