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
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 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 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 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
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 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.


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