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ArchiveRomania retail sales down 20% so far in 2009
According to real estate analysts, Romanian retail sales fell 20% so far in 2009, the sharpest drop among Central and Eastern European countries. The average drop in retail sales in the CEE countries was between 10-15%. Simina Istrate, from the retail unit of Colliers International,...
Romania’s power holdings setup may revive the economy
According to energy sector and Economy Ministry representatives, the setup of the two national power holdings may revive Romania’s economy and set “fair” market prices for electricity. The creation of the national power holdings is the final stage of the energy sector...
Bechtel Asphalted 30 Km Of A 42-Km Sector On Romania’s Transylvania Highway
US company Bechtel, working at the construction of Romania's Transylvania Highway since 2004, asphalted 30 kilometers of the 42 kilometer road sector Campia Turzii-Gilau, approximately 80% of the construction works for this sector, the company said Monday. The rest of 12 kilometers are due until...
Volkswagen and Varta might collaborate for electric cars batteries
Volkswagen Group and Varta battery producer intend to accomplish the development of the lithium-ion batteries designed for electric automobiles, planning to achieve competitiveness by improving their technology and also their price, according to Automotive News Europe. The German...
Prognosis: Romania's unemployment rate will rise to 7.6% in 2009
The unemployment rate in Romania will rise by over three per cent in 2009, at 7.6%, from 4.4% a year earlier. Acording to the National Prognosis Commission (CNP) preliminary autumn forecast, the number of jobless persons will rise to 685,000 by the end of the year. In 2010, CNP estimates...
Companies in debt towards the Romanian state will be monitored by the IMF
Through the new agreement made by the Romanian government with the International Monetary Fund (IMF), annual spending of 10 of the largest state companies, among which CFR, The National Coal Company, Termoelectrica and Metrorex, will be strictly monitored. In the second stage of this settlement,...
Romania To Scrap 20,282 jobs till the end of the year
Romania's employment agency ANOFM announced that, until the end of the year, about 20,282 jobs will be cut. Last week, the agency reported that 4,882 employees were fired. 216 companies operated layoffs in the last week, most of which are in capital Bucharest (22) and counties Prahova...
The german company Mansory opens a dealership in Romania
The german company Mansory, specialized in luxury car tuning, opended a local dealership and expects turovers of EUR100.000 by the end of the year. In 2010, the company expect to double it’s tourovers. Businessman Irinel Columbeanu and football coach Cosmin Olaroiu are some of the...
Earnings evolution in Romania after nine months of crisis –financing: +34%, budgetary: - 7%
Employees earnings from the financial intermediation, energy and insurance sectors, have recorded the most significant accession since the international crisis started to show its effects on the Romanian market. During the October 2008 – June 2009 period, the average net salary in...
Energy commerce, a business for Malls and real estate companies
Malls, real estate entrepreneurs, two industrial parks, a stock market, a paper factory and even an investment bank have licenses in the Romanian energy business sector. Ordinarily they are consumers, but they use their current supply license to resell unused energy. Nicolae Pintilie,...
Romanian tourism dropped by 40% in six months, due to crisis
In the first six months of the year, tourism agencies recorded sales drop over the values estimated at the beginning of 2009. According to some sources Romanian tourism saw a staggering 40% drop comparative to the same period of last year. Overall, the most affected segment was for external...
The industry business dropped 20% since January 2009
Companies in the energetic industry recorded the most dramatic comedowns yet, recording a staggering 35% drop in turn-over. Next on the list, there are the companies in the intermediary goods industry with a 7.6% deficit and long term use goods with a significant 23.8% drop. According to the...
Romanian oil companies rose the price of fuel by 40% - Romania still among the cheapest
In half a year, the price of gasoline on the Romanian market rose by almost 40%, and by 15% for diesel. Oil companies blame the international oil prices and the undervaluation of the Romanian currency. Still, even with the drastic increase, according to the Oil Buletin, gas prices in Romania...
Aero Vodochody to take over IAR
Igor Hulak, president of the Czech company Aero Vodochody, has visited on Tuesday IAR Ghimbav and carried on discussions with the administration and trade unions. Aero Vodochody is the single company that remained in race for taking over IAR, after AVAS excluded from negotiations Marcovici...
Romanian siderurgy industry reduces the production activity
Year 2008 started promising for the aggregate works in Romania. The intermediary financial results forecasted economic performances above the ones in 2007 and it was mentioned about a huge investment next to the shore. The world economic crisis has ruined the plan of the siderurgists. Now, at the...
Record fuel sales for oil companies
The drop in world demand for crude oil caused by the financial crisis generated a sudden fall of international quotations for oil on the international market. If during the summer we were referring to a price of 140 dollars per barrel, now the quotation has dropped under 60 dollars. The oil...
The minimum investment in a spa center: 1.000 euro/sq
During this year, the number of operational spa centers in Romania increased with over 50%, mainly on the hotels segment, up to a total of 190 rooms, according to the data supplied by the consultancy agency MondoSpa. “In 2009, the evolution of this market will follow the trend of 2008: an...
Outgoing tourism demand will moderate in 2009
Even if the sales for New Year’s Eve don’t put up to the expectations, the Romanian tour-operators are already preparing touristic offers for the next year. The “coordinates” of the touristic year that starts in 2009 consist in inserting new charter flights, the...
Romania is the last in the region in terms of alternative energy
We have the third geothermal potential from Europe, after Italy and Greece, and it is considered the country with the highest potential of Aeolian energy from the region. Moreover, it disposes of a quantity of solar energy bigger than the one of Germany or Austria, countries more developed then...
Non reimbursable funds for the IT departments of SMEs
The Ministry of Communications has launched a new appeal for projects directed to authorized natural persons (ANP) and small and medium sized enterprises (SMEs). There are available non reimbursable funds of over 20 million lei, money from the World Bank. Till the moment, the companies from the...
Dacia has sold over 194,000 cars in 2008
Romanian carmaker Dacia, the local unit of French Renault, reported a 17.1% increase in global sales, to 194,165 units, in the first nine months of the year, compared with 165,834 units in the same period a year ago, according to data offered by Renault. Of total sales, 181,081 vehicles were...
Volkswagen brings VW Scirocco to Romania
Porsche Romania, local importer of Wolkswagen cars, launched the Scirocco hatchback, available in two petrol engines, at prices ranging between 21,603 euro and 24,808 euro, VAT included. The sales target for Scirocco, which is available exclusively with three-door hatchback body, is 60 units...
Romanian drug suppliers on stand-by until the 15th of October
Romanian medicine suppliers on Saturday said drug deliveries are suspended until at least the 15th of October, pending new price negotiations with the Health Ministry. Medicine suppliers are discontent with the ministry's offer to recalculate drug prices for only 200 out of total 4,000 products...
Surgeon Ioan Stoian built a hospital with his allowance from Somalia
With the money and experience collected in the humanitarian mission from Africa, the military doctor Ioan Stoian has opened his own clinic in 1994. Today he manages a private hospital that “demands” two million euro for development and modernization. Even if it’s spoken more and...
Cuba, the ideal choice for New Year's Eve
It is also called the Republic of Sun. But probable, this is the last thing for which it is known. The Havana, the rum and especially Fidel Castro made it famous. From time to time, it was loved by a Hemingway, Marques or Maradona. Endless beaches, Caribbean Sea, sun, history,...
