Tax on greed: central bank’s reaction
The level of the interbank offered rate ROBOR, which serves as benchmark for floating-rate loans in lei, is attributable to the entire country, it depends on the domestic realities and first of (...)
Dec 19, 2018
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Early Game Ventures launches EUR 28 mln fund for innovative projects in Romania
Early Game Ventures, a EUR 28 million – capitalised venture capital fund dedicated to innovative companies in Romania and funded through the Competitiveness Operational Program 2014-2020, (...)
Dec 19, 2018
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Regional hospitals to be built after 2020-2021, Romanian minister says
The three major regional hospitals the Romanian Government plans to build will be financed from the European Budget 2021-2027, when EU funds will cover 85% of the total costs, compared to 50% (...)
Dec 19, 2018
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Romanian chemical group Chimcomplex to invest EUR 115 mln, targets EUR 1 bln turnover
Ten days after it purchased the operating assets of its peer Oltchim, Romanian chemical group Chimcomplex announced its investment plans for the next 5 years as agreed with the two banks that (...)
Dec 19, 2018
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Tax on greed on bank assets as of 1 January put forward by gov’t, with rd 3 bl lei impact
The government puts forward as of 1 January 2019 a duty called "tax on greed" on the financial-banking institutions, in case the 3-month and 6-month interbank offered rate ROBOR, which (...)
Dec 19, 2018
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Romania hires Tirrena Scavi to build Timisoara ring road
Romania’s public road company CNAIR on December 18 signed the contract for the design and execution of the Timisoara Sud ring road, a contract amounting to EUR 58 million. The city will thus have (...)
Dec 19, 2018
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Best Romanian employers’ ranking includes two public institutions
Vodafone Romania was the best employer in 2018, followed by OMV Petrom and Banca Transilvania according to the survey carried by the recruiting online platform bestjobs.ro among 100,000 of the (...)
Dec 19, 2018
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Romanian President Iohannis plans to attend each Government meeting
Romania’s President Klaus Iohannis said on December 18 in Vienna that he plans to attend each Government meeting for a period of time, after he “noticed certain openness for cooperation” from Prime (...)
Dec 19, 2018
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Participants in Romania’s mandatory private pension funds, allowed to withdraw
Participants in mandatory private pension funds (Pillar II) in Romania will be allowed to withdraw from these funds after contributing for at least five years. The withdrawal fee will be 2% of (...)
Dec 19, 2018
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Romanian Govt. mulls over supplementary tax on bank assets
Romania’s finance minister Eugen Teodorovici confirmed that the Government considers levying a supplementary tax on banks’ assets, to be decided on a quarterly basis based on the average level of (...)
Dec 19, 2018
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Romania plans comprehensive revision of corporate taxation system
Romania’s Government plans to endorse on December 19 an emergency ordinance that operates comprehensive revision of the entire corporate taxation system, with no prior public consultations, MP and (...)
Dec 19, 2018
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Romania Ranked 8th Among Large Beer Producing Countries In The EU In 2017
Romania ranked eighth among large beer producing countries in the European Union in 2017, with a production of at least 16 million hectoliters, overtaking Italy, according to the latest report by (...)
Dec 18, 2018
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SIF Moldova Sells Its 29% Stake In Hyperion Iasi
Romanian regional investment fund SIF Moldova (SIF2.RO) on Tuesday said it sold its 29% ownership in pharmaceuticals and cosmetics company Hyperion S.A. Iasi, within a transaction worth (...)
Dec 18, 2018
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President Iohannis says he is not willing to compromise when talking about independence of justice, rule of law
President Klaus Iohannis stated on Tuesday that he cannot give up the independence of justice and the rule of law, arguing that he won't question these two aspects in a discussion with (...)
Dec 18, 2018
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CBRE To Provide Management Services For Revera Medical City Project Entailing EUR60M Investment
Real estate consulting firm CBRE, one of the main players on the Romanian real estate consulting market, will ensure the management of the Revera Medical City project developed by Enayati Group, (...)
Dec 18, 2018
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MAE says celebration of National Minorities Day proves respect and acceptance of others
Marking the National Minorities Day of Romania represents "a proof of accepting and respecting the other - defined through a distinct ethnic, religious, cultural and linguistic (...)
Dec 18, 2018
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Marketplace Platform Managed By Retailer CEL.ro Posts RON10M Revenue 9 Months Since Launch
The marketplace-type platform of CEL.ro store, managed by local company Corsar Online, reported revenue of RON10 million from over 30,000 orders registered since the launch of the platform, in (...)
Dec 18, 2018
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DefMin Les meets Federica Mogherini, voices Romania’s support for strenghtening EU profile in security, defence
Minister of National Defence Gabriel Les on Tuesday had a meeting in Brussels with the High Representative of the Union for Foreign Affairs and Security Policy, Federica Mogherini, in which (...)
Dec 18, 2018
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Film co-produced by Romanian director gets four Lumieres Awards nominations
The Sister Brothers, a film partially shot in Romania and co-produced by Palme d’Or winner Cristian Mungiu, received four nominations at France’s Lumiere Awards. The film, directed by Jacques (...)
Dec 18, 2018
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Retailer Elefant.ro Boosts Share Capital By EUR2M To Support Development Plans In 2019
Elefant Online, the company holding and operating the platform elefant.ro, boosted its share capital by EUR2 million, according to a decision of the general assembly of (...)
Dec 18, 2018
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Ski slope in Romania ready ten years after works start
The works on the ski slope in the Rarău Massif, in northeastern Romania, are finalized, Mihăiţă Negură, the mayor of Cîmpulung Moldovenesc, said. The gondola lift is currently being tested, and the (...)
Dec 18, 2018
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Two Realty Investors Complete 2nd Project Under La Strada Street Mall Concept Brand In EUR5M Investment
La Strada Street Mall Concept, developer of strip mall-type retail projects launched by businessmen Moshe Turgeman and Tomer Barhom, has completed the second project, in Brasov (central Romania), (...)
Dec 18, 2018
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Public maternity hospitals in Romania to give newborns free hearing screening
Children born in public maternity hospitals in Romania will benefit from free hearing screening after the Health Ministry expanded the hearing screening program at a national level. The free (...)
Dec 18, 2018
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UPDATEPresident Iohannis asks PM Dancila to include Romanians’ right protection on Gov’t sitting agenda
President Klaus Iohannis sent a letter on Tuesday to Prime Minister Viorica Dancila, asking her to include on the agenda of the forthcoming Gov't sitting the topic of the protection of (...)
Dec 18, 2018
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Brikston Iasi Acquired by Austria's Leier After Failed Sale to Wienerberger
Brick and ceramic materials manufacturer Brikston, owned by invetsment fund CEECAT Capital, has been bought by Austrian construction material manufacturer (...)
Dec 18, 2018
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Fewer tourists visit Romania in 2018, but they spend more
The number of non-resident tourists using Romanian accommodation facilities decreased in the first three quarters of 2018, but they spent more according to data reported by the statistics office (...)
Dec 18, 2018
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New border crossing point between Romania and Bulgaria
A new border crossing point for road traffic between Romania and Bulgaria opened in Constanţa county, in the commune of Dobromir. It corresponds to the Bulgarian border point of Krushari, in the (...)
Dec 18, 2018
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UK’s ambassador Noble: UK needs European Union to have huge success
The UK needs the European Union to have a huge success after Brexit, British Ambassador in Bucharest Andrew Noble said on Tuesday in the opening of a roundtable meeting on Romanian-British (...)
Dec 18, 2018
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Former RO president denies comments on ruling party in French media, journalist stands by report
Former Romanian president Ion Iliescu has denied comments concerning the ruling Social Democrat Party (PSD) in an interview with French newspaper Le Figaro. Iliescu is the honorary president of (...)
Dec 18, 2018
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Chimcomplex Plans to Invest EUR115M, Sees EUR1B Turnover in Five Years
Romanian chemical producer Chimcomplex Borzesti plans to invest EUR115 million on its platforms in Valcea and Borzesti and estimates its turnover will top EUR1 billion in five (...)
Dec 18, 2018
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