Demand 
Ernst & Young: Romanian Economy Will Grow 1% In 2011
According to a report by Ernst & Young, Romania’s GDP is expected to grow by 1% this year, mostly driven by exports, but domestic demand remains subdued. The authorities forecast an economic growth of 1.5% in 2011. The report also states that the economy is likely to grow up to 4% in 2012, as investments and local demand are expected to pick up. Ernst & Young analysts consider it is highly unlikely that Romania will be able to reduce its budget deficit to 3% of the gross domestic product by 2015. citeste mai mult
Euro Hits 5-Week High Vs Romanian Leu
Romania’s leu lost 0,6% on the day against the euro as the central bank’s reference stood at RON4,2597 per euro, the highst exchange rate since July 23 rd . Romania’s currecy depreciation was caused by the high demand for euro. On July 23 rd the reference stood at RON4,2642 per euro. Against the US dollar, the leu's indicative retreated 0.9% at 3.5496 units. citeste mai mult
Products made in Romania start to lose their customers
Germany and Italy have officially stated that they have entered in economic crisis. The shock wave has touched also the Romanian economy, through the collapse in demand on the main two export markets, and also on other European markets, where our country still had profitable businesses.The group of the European Union member states that meet the criteria of an economy in recession, respective two consecutive quarters of decrease in the gross domestic product, is more and more numerous. According to the data published by the Statistical European Office, Germany that was considered not long ago the locomotive of the economy in the euro zone, has reported for the second and third quarter a decrease of GDP with -0,4%, respective -0,5%. Italy joins it with an identical evolution of the same index, Estonia (-0,8% for Q2, -1,0% for Q3), Denmark (-0,2% for Q1, -0,6% for Q2), Ireland (-0,3% for Q2, -0,5% for Q3) and Latvia (-0,5% for Q2, -0,5% for Q3). Great Britain, that has... citeste mai mult
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 companies from Romania have adopted crisis measures and are on the look-out, although they say that aren’t affected yet. However, they have record quantities of commercialized fuels. The oil companies that operate in Romania sustain that the effects of the world financial crisis haven’t affected yet their business but they say that they have elaborated strategies for counteracting the negative influences. For the moment, they have announced record sales to fuel even if since July the prices at pump have decreased. For example the Petrom officials, have stated that in October they have sold almost 200 million liters, an absolute record, with 30% more against the similar period... citeste mai mult
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 decrease of price to some worldwide touristic services (due to the decrease in demand generated by the economic crisis) and aggressive promotion of some destinations. So the Romanians will be able to choose among the new charter flights to Santorini, Mykonos, Chefalonia, new products being also prepared for destinations such as Singapore, France or Austria. The demand for worldwide packages won’t record anymore the advance of 30% registered this year. When we refer to new service packages, there must be mentioned the new charter flights to the Greek isles Santorini, Mikonos and Chefalonia. “Beside the traditional charter flights, such as Mallorca, Barcelona, Crete, Rhodes and... citeste mai mult
Students break the real estate ice from Brasov
The students have brighten up the demand on the segment of renting on the real estate market from Brasov. According to the real estate agents, there are many requests of renting, and the offer stands no chance for covering all of them. Because they have only one month available for finding a place where to live, the students that avoid the student hostel, as also the ones that study to private universities, are looking for the most advantageous offers. “The apartments with two rooms that are being rented with about 250 euro monthly have the biggest demand. However, in this sum, the offered conditions are medium. There isn’t heating central, PVC windows or other improvements. “It is difficult for us to find them this type of apartments, because there are being rented right away. In about two-three days they disappear from the data base”, Adrian Pop, vice president of the subsidiary Brasov of the National Union of Real Estate Agencies (NUREA) says. Moreover,... citeste mai mult
