RSS
Economic
Infrastructure: Government to allot another 25 million RON to finish Brasov-Ghimbav International Airport
Tuesday, September 1, 2020
The executive will allot this year another 25 million RON from the Reserve Fund of the Government to finish the central Brasov-Ghimbav International Airport, said Prime Minister Ludovic Orban, who was visiting the construction site."Additionally to the 50 million allotted through the state budget law for this investment objective, the Government will also allot during this year another 25 million from the Government's Reserve Fund, and, at the same time, next year ...
Passenger air transport registers 61.9% decrease in H1 2020
Tuesday, September 1, 2020
Passenger air transport registered a decrease of 61.9% in the first half of this year, from 10,709,300 passengers to 4,077,800 passengers, according to data centralised by the National Institute of Statistics (INS)The largest shares in terms of passenger transport were registered at the airports Henri Coanda-Bucharest, Avram Iancu-Cluj-Napoca and Traian Vuia-Timisoara.At Henri Coanda-Bucharest airport there were 1,317,100 boarded passengers and ...
Real Estate: JLL Romania: COVID-19 will impact each residential market segment differently
Tuesday, September 1, 2020
The impact of the Pandemic on the Romanian residential market will be different for each category of buyers, correlated with the sale price of the properties, the most affected being the segment that addresses buyers interested in properties with prices below 1,300 euro / sqm. This category represents the largest part of the offer of new homes in Bucharest, respectively 64 percent of the total. Under these conditions, government measures such as the ...
Skanska Romania will implement for the first time the virtual showcasing platform developed by Bright Spaces
Tuesday, September 1, 2020
PropTech Romanian startup Bright Spaces has recently signed an agreement with Skanska Romania and will implement its interactive 3D showcasing platform for Equilibrium, a project owned by the developer in Bucharest, Romania. The platform will go live in October 2020 for the first time in Romania, making a powerful statement given the current ...
AFI Europe has completed the takeover of NEPI Rocskcastle's office portfolio
Tuesday, September 1, 2020
AFI Europe NV has completed the purchase of four Class A office projects in Romania, formerly known as the NEPI Rockcastle’s office portfolio, following a transaction of EUR 294 million. Starting today, the four office projects will be part of AFI Europe Romania’s portfolio. The four office projects, located in Bucharest and Timisoara, have a total gross leasable area (GLA) of 118,500 sqm which are added to the existing office portfolio AFI ...
Almost 500,000 sq m of modern offices to be delivered in Bucharest and regional cities
Tuesday, September 1, 2020
The office market in Bucharest and in the major regional cities – Cluj-Napoca, Timisoara, Iasi and Brasov – continues to develop, with local and foreign investors having projects under construction or scheduled for delivery with an area of approximately 500,000 square meters that will be put into use in the next 16 months, according to Bucharest Office Market and Office Regional Cities Reports, conducted by the real estate consulting company Cushman & ...
Agriculture: Exports of meat, fish products total 75.4mln lei in first five months
Tuesday, September 1, 2020
Romania's exports of meat and fish products totaled, in the first five months of the year, 75.4 million euros, being 1.4% higher compared to those in the same period of 2019, according to data centralized by the National Institute of Statistics (INS).Imports amounted to 103.1 million euros, 12.5% more than in January-May 2019, resulting in a deficit of 27.7 million euros.Exports of meat and fish products to European Union countries in the said period ...
State-aid scheme of 109.8 million lei for Romania's poultry farming amid Covid-19 pandemic
Tuesday, September 1, 2020
Losses sustained by Romania's poultry farmers March 1 - July 1, 2020 as part of an economic crisis generated by the Covid-19 pandemic will be compensated for under a state-aid scheme for poultry farming amounting to 109.8 million lei, the Ministry of Agriculture and Rural Development (MADR) reported on Friday.The aid amount is the lei equivalent of 100 euro /livestock unit, and the total value of the aid scheme is 109.8 million lei.Qualifying for the ...
Cars: PwC Romania : Romania will have the fastest recovery of car sales in Central Europe, after the decline in 2020
Tuesday, September 1, 2020
Romania could record the largest decrease in sales of new passenger cars and light commercial vehicle (LCV) in Central Europe this year, of 24.3% compared to 2019, but will have a rapid recovery exceeding the pre-COVID crisis volume threshold until 2023, according to Autofacts report made by the PwC network at European level, based on IHS Markit data. Thus, estimates for the new cars and light commercial vehicles markets in Romania show a decrease from ...
Tourism :The spa and balneary industry in Romania risks bankruptcy
Tuesday, September 1, 2020
The balneary and spa industry is preparing to close down the gates of resorts and send the specialists in the domain home, if the measures to reopen will not be adopted ‘ very soon’, warns the representatives of the Organisation of th Employers in Balneary Tourism in Romania (OPTBR), adding that over 60% of th companies in the industry will not survive to the end of this year. Although the investors in the balneary industry say they are ...
Accor opens the first hotel in Galati
Tuesday, September 1, 2020
Accor Group has announced the opening of its first hotel in Gala?i, ibis Styles Dunarea Galati. The property in Galati is the second to open in Romania in 2020 and will be closely followed by 5 more this year, including Mercure Galati Centrum, by the end of September. With growing interest from its partners, Accor will add 10 more hotels to the portfolio in 2021 – 2023. Pipeline covers various brands from economic to upscale segment. Accor ...
Tourism: Number of family tourists on the littoral growing while that of young people dropping
Tuesday, August 25, 2020
The decision to close down terraces at 11.00 p.m led to a sudden drop of the number of reservations made by young people for seaside resorts, while the number of reservations made by families with children grew last week, according to data centralized by Litoralulromanesc.ro agency. On the other hand, restaurant sales, affected by social distancing (fewer tables on terraces) and the fact that ...
About a quarter Romanians canceled holiday plans this summer
Tuesday, August 25, 2020
Over three quarters of Romanians (77%) have already been or will go on holiday this year , while a quarter (23%) chose to cancel their plâns this summer, according to a study made by an online hotel booking platform. In this context, 49% of people interviewed mentioned that Romania represents now the practical and safe choice when it comes to choosing holiday destinations. According to answers to Travelminit.ro ...
30% of HoReCa will close down by October, unless we find solutions
Tuesday, August 25, 2020
Companies and employees in the HORECA sector should not pay any taxes for the 2020, 2021, and 2022 fiscal years, according to a draft bill under debate in the Senate. The bill aims to help the hospitality industry, which has been among the hardest-hit by the COVID-19 pandemic and related restrictions. The businesses in this sector have declined by about 70% in 2020, according to the ...
Spa industry umbrella organization:Romania's not using its natural resources in fighting COVID, a big mistake
Tuesday, August 25, 2020
The medical commission of the Romanian Spa Tourism Employers' Organisation (OPTBR) considers that by increasing the human body's immunity, spa treatment provides a natural weapon in the fight against coronavirus, the organization's president Nicu Radulescu told AGERPRES on Friday."The spa tourism medical practitioners, who formed a medical commission of the Romanian Spa Tourism Employers' Organisation, an all-doctors organisation joining professionals of national ...
Real estate: VGP buys 39-Ha land plot in Arad
Tuesday, August 25, 2020
The market of industrial spaces in the west of Romania, respectively in the counties of Timi?, Arad and Bihor, continues to attract the attention of investors, after doubling its volume in the last ten years, ranking second after Bucharest. CBRE, leader of the real estate consultancy market, recently advised the pan-European developer VGP on the acquisition of a 39-ha land plot in Arad. The transaction mediated by CBRE Romania, with a ...
Agriculture: Payments for Tomato Program to start this week
Tuesday, August 25, 2020
The payments for the Tomato Program start this week, with the Ministry of Agriculture and Rural Development (MADR) to feed on Tuesday the accounts of all County Agriculture Directorates, given that the Ministry of Public Finance approved the opening of budget loans, the MADR announced on Monday.The Ministry of Agriculture mentions that, during 2020, it allocated to the Tomato Program the amount of 39.477 million euros, the highest amount in the last four years ...
Study: Milk market dominated by multinationals, raw milk imports increase by 57.4 pct in H1
Tuesday, August 25, 2020
The production of milk products and imports have recorded increases in the first six months of the year, over the similar period of 2019, the milk market being dominated by multinational companies, show the results of a study conducted by the Tara Mea [My Country] Cooperative, given on Monday to the public.According to the quoted source, raw milk imports increase in the first six months (57.4 pct), reaching 72.212 tons, compared to 50,552 in the same period of ...
Edible fruit exports grew by 43pct in first five months and imports by 13.4pct
Tuesday, August 25, 2020
Romania's exports of edible fruits totaled, in the first five months of this year, 19.6 million euro, being 43 pct higher compared to the similar period of 2019, according to data centralized by the National Institute for Statistics.Imports clocked in at 330.4 million euro, by 13.4 pct over those in the January-May 2019 period, resulting in a deficit of 310.8 million euro.Edible fruit exports to the countries of the European Union stood, in the ...
Parliament approved new amendments to Forest Law
Tuesday, August 25, 2020
The new Forest Law was approved on Wednesday, by Parliament and will come into force after promulgation, according to a press release of the Ministry of Environment, Waters and Forests (MMAP). “Today we won a very important struggle for Romania's forests. Recently, Parliament approved the bill amending the Forest Code. We repeatedly asked by colleagues in Parliament to vote the bill in emergency procedure. The law passes from a crime permissive ...