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Investments in Romania economy up 29.1% to 39.36 billion Romanian RON Investments in the Romanian economy in the first nine months of 2007 amounted to 39.36 billion Romanian RON, a 29.1% increase from the similar period last year, the National Statistics Institute informs. In the third quarter of the year, the total value of the investments stood at 17.44 billion Romanian RON, 5.29 billion Romanian Ron above the value of a year ago.

Luni, 3 decembrie 2007, 18:02 în English | Business

Romania youth unemployment rate is among EU highest Romania has among the highest rates in the European Union in terms of youth unemployment with 20.7% of under-25 youngsters unemployed in October this year, according to the European Statistics Institute. The only EU member state with higher unemployment rates is Greece. Overall, the unemployment rate in Romania was 7.3% in October, but grew by 0.1% as compared to a year ago.

Luni, 3 decembrie 2007, 17:57 în English | Business

EU pays Romania EUR 3.68 billion to improve labor market Romania will receive through the European Social Fund (ESF) co-financing worth 3.68 billion euro in order to create new jobs and to improve the existing ones, an European Commission press release informs on Thursday. The programs involved in the project refer to improving personal skills, improving public services and creating a more efficient and effective public administration in the country.

Joi, 29 noiembrie 2007, 14:26 în English | Business

Russian giant Mechel - third asset in Romania Russian company Mechel intends to open a third production facility in Romania, buying a local ferro concrete and ironware company, Ductil Steel. Russian experts evaluate the transaction at 45-55 million dollars. Mechel, having its own general manager, Igor Ziuzin, as main shareholder (68.2% of the stock) already submitted the documentation for approval to the Romanian Competition Council, asking to acquire the control stock at Ductil Steel, 50% + 1 share.

Joi, 29 noiembrie 2007, 6:58 în English | Business

Romania central bank: firms consumers contracting still more loans Credits to companies and individuals in Romania rose by 51% in October this year as compared to a year ago reaching 113.3 billion Romanian lei, Romanian central bank BNR has announced. The BNR also says that the A3 aggregate kept rising last month, a trend also seen when it comes to individual national and foreign currency deposits.

Marţi, 27 noiembrie 2007, 19:27 în English | Business

Romania last in Europe in terms of ATM number Romania and Poland are last in Europe when it comes to the number of ATMs, Eurostat informs. The Romanian market offers only 20 ATMs per 100,000 inhabitants, while the number grows to 125 in market leader Spain.

Marţi, 27 noiembrie 2007, 19:25 în English | Business

Petrom 2007 budget review approved despite challenge The shareholders board of Romanian oil group Petrom aproved on Tuesday a review of the 2007 budget of the company despite the Athority of State Assets Recovery (AVAS) had announced it would oppose the proposal, sources close to the meeting told Romanian news agency NewsIn. AVAS, a government-controlled body, holds a 21% stake in Petrom, a company controlled by Austrian group OMV.

Marţi, 27 noiembrie 2007, 19:23 în English | Business

Romania - last in Europe in terms of mobile connections The number of mobile telephony subscriptions per hundred of inhabitants rose almost 14 times in EU member countries during 1996-2005. Romania was among the last European countries by the end of 2005, according to newly released Eurostat data, with 62 mobile telephony subscriptions per thousand inhabitants. In terms of wired telephony, it was also placed last, with 20 lines per hundred inhabitants in 2005.

Marţi, 27 noiembrie 2007, 19:18 în English | Business

Business weekly: Rompetrol boss Dinu Patriciu is richest man in Romania Romanian businessman Dinu Patriciu is the richest man in Romania, according to the latest issue of a yearly list of wealthiest people in the country published by Romanian business weekly Capital this week. Patriciu leaped from eighth to first place in the Capital chart following his selling of a majority stake in Rompetrol, the second-biggest oil group in Romania, to Kazakh group KazMunayGaz in August this year.

Marţi, 27 noiembrie 2007, 15:00 în English | Business

Polish can meat producer Mispol announces plans to enter Romania, Bulgaria markets Polish canned meat producer Mispol has announced that it planned to expand activities on the Romanian and Bulgarian markets, Novinite.com informs. The company is interested in either building a plant or in buying production units in the two countries, the Bulgarian website says.

Duminică, 25 noiembrie 2007, 16:20 în English | Business

KazMunaiGas to decide in the future on Rompetrol full acquisition The Kazakh national natural gas operator, KazMunaiGas, will decide at one point in the future whether it will buy the remaining 25% of the Romanian oil refining and distribution company Rompetrol, said the KMG president, Uzakbay Karabalyn, while visiting Bucharest on Thursday, NewsIn informs.

Sâmbătă, 24 noiembrie 2007, 11:01 în English | Business

Black lists for public procurement bids The database containing information about the companies participating in bids referring to public funds already listed 3,000 companies, out of which 70 are "on the black list", receiving a negative evaluation, said Marius Gogescu, president of the Public Procurement National Agency (ANRMAP) for Hotnews.ro. The database, which may be completed before the end of January 2008, is the first condition necessary in order to prevent companies that caused problems from participating in public procurement bids. Until the database is completed, all those interested may demand information about the companies.

Sâmbătă, 24 noiembrie 2007, 10:59 în English | Business

Romania car market up 23% in first ten months of 2007 as imports rise Car sales on the Romanian market grew by 23% in the first ten months of 2007 compared to the similar period last year, reaching 258,224 units sold, according to statistics announced by the Association of Car Producers and Importers (APIA) on Thursday.

Sâmbătă, 24 noiembrie 2007, 10:57 în English | Business

Bucharest Stock Exchange head Septimiu Stoica to resign Romanian Stock Exchange (BVB) president Septimiu Stoica announced on Monday that he would resign from the job which may be taken over by Stere Farmache, the current general manager of the Stock Exchange, a BVB press release says. Farmache told HotNews.ro that Stoica is in fact withdrawing from the post given his promis at a BVB board meeting that he would support unifying the posts of BVB board president and general manager.

Luni, 19 noiembrie 2007, 13:32 în English | Business

Romanian real estate market: 14 international companies to invest 2.4 billion euro in 2008 At least 14 international companies announced investments amounting to 2.4 billion euro on the Romanian real estate market for 2008, to develop residential and commercial projects, More International Invest company director Ilias Papageorgiadis has told Romanian news agency NewsIn.

Luni, 19 noiembrie 2007, 13:30 în English | Business

Romania telecom operators Orange, Vodafone suspected of oligopoly Competition on the Romanian telecom market is weak and there and factors indicating a collective dominance of the two main operators in the country, Vodafone and Orange, a study of the Romanian telecom market regulator ANRCTI says. Official representatives told HotNews.ro that they would set up a market analysis and then they would take the necessary actions.

Vineri, 16 noiembrie 2007, 22:17 în English | Business

Romania minimum salary set at 500 RON
Romanian labor minister Paul Pacuraru has announced that the minimum salary in 2008 was set at 500 RON - or 145 euro. Employers' unions have agreed with the threshold, while trade unions said they favored a re-evaluation of an amendment to rectify the 2008 budget.

Vineri, 16 noiembrie 2007, 22:13 în English | Business

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