January 13, 2020

Authorities prepare ground for entry into Romania of rail multinationals, national companies to be "shattered" (union)
Jan 13, 2020

Authorities prepare ground for entry into Romania of rail multinationals, national companies to be "shattered" (union).

The Government Decision Draft for the approval of the public service contracts for the 1 January, 2020 - 31 December, 2023 period in public passenger transport services by rail is a disaster for all six companies with Romanian capital, including CFR Passengers, which will be "shattered", says Iulian Manescu, president of the Federation of Locomotive Drivers (FML). According to him, the document does nothing but prepare the ground for the entry into Romania of the multinationals, namely DB (Deutsche Bahn AG) and OBB. In this context, the trade union leader stated that the transport unions are preparing a series of amendments that they will bring to this draft normative act, which, in its current form, will cause the Romanian companies to be removed from the market. According to him, the draft act, in its current form, will generate losses of over 600 million lei in 2020 for CFR Passengers. Asked whether he is considering a protest if the amendments are not to be accepted, the FML president replied: "I do not even think it will remain in this form, because where is the interest of the Romanian state?!" He stressed that Romania still has to deregulate the allocation of traffic sections, with a deadline until December 2023. He pointed out that no national passenger rail transport company is profitable, but governments infuse capital into these companies, and any losses are passed at the end of the year to public debt, so as not to generate penalties and accessories. Moreover, in their case there are no penalties imposed for non-observance of the indicators as train-km or passenger-km. The president of the FML did not show confidence in the current government regarding openness to supporting the Romanian railway, mentioning that he received promises regarding the possibility of receiving more money at the summer budget rectification. Currently, on the Romanian rail market are operating the National Railway Transport Company "CFR Passengers" SA and five private railway operators - Regio Passengers, Interregional Passengers, Transferoviar Passengers, Astra Trans Carpatic and Softrans.AGERPRES (RO - author: Oana Tilica, editor: Andreea Marinescu; EN - author: Bogdan Gabaroi, editor: Simona Iacob)

[Read the article in Agerpres]

Fashion Days 2019 Turnover Up 30% YoY To Over RON325M Online fashion retailer Fashion Days ended 2019 with a turnover of over RON325 million, up 30% on the year, and switched to profit, for the first time, in the last six months of 2019.

Romania Business Process Outsourcing Market Up 8% YoY To Nearly EUR800M In 2019 Romania’s Business Process Outsourcing (BPO) market reached approximately EUR800 million in 2019, up 8% on the year, according to estimates by Computer Generated Solutions (CGS) Romania.

UPDATE Romania's end-2019 budget deficit at 4.6 pct of GDP Romania closed 2019 with a budget deficit of 4.6 percent of GDP, above the authorities' November estimation, when the second budget adjustment was operated, Finance Minister Florin Citu announced on Tuesday. The only time with a wider budget gap was the crisis year of 2010, when the government (...)

NATO's Resolute Support Mission / First detachment of Black Vipers 21st battalion reaches Afghanistan The first detachment of troops from the 21st Battalion "Black Vipers" Force Protection arrived in Afghanistan, the Ministry of National Defence (MApN) announced on Tuesday. ''The first 'Black Vipers' have arrived in Afghanistan! The 21st Battalion 'Black Viper' Force Protection will (...)

In three months, the liberal government brings to Romania the biggest budget deficit in the last 9 years By Jerom Bolt The Liberal government settled in early November in Romania, following a vote of blames given by Parliament to the three-year government of the Social Democrats. The country's population is expecting a revival of the economic situation, investments and living standards. Nothing (...)

Iulian Dascalu Offers EUR23.5M for 31% in Carbochim Real estate developer Iulius, owned by Iulian Dascalu, is offering RON23.5 million to acquire 31% of industrial abrasives manufacturer Carbochim (CBC.RO) via Carbo Europe in an offer on the Bucharest Stock Exchange that ends on March (...)

Three-month interbank offered rate rises to 3.18 ppa Romania's three-month interbank offered rate ROBOR rose on Tuesday to 3.18 ppa, from 3.16 ppa, on Monday, according to data published by the National Bank of Romania (BNR). At the beginning of last year, the three-month ROBOR was 2.99 per year, and at the end of the year 2.18 pct. On the same (...) : all romanian news. Copyright © DIRECTWAY | News RSS |