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Economic
Real estate: Developers announce projects of 380,000 sq.m for 2019
Tuesday, September 4, 2018
Real estate developers announced projects for offices of 380,000 sq.m for 2019, and of 242,000 sq.m in 2020. Commissioning for such areas will grow by 55% this year against last year, according to an analysis made by an international consulting company. This fall, about 23,500 employees will move to new office buildings, until the end of the year. Class A offices of 224,000 sq.m will be commissioned this year, 84% of these areas opening in the second half of the year, ...
NEPI Rockastle reported EUR 149 mln profit in H1 2018 and will open Satu Mare Shopping City this winter
Tuesday, September 4, 2018
With around 39 percent of the portofolio in Romania, NEPI Rockastle real estate investor published its unaudited results for the first half of a year, http://business-review.eu reports. The company net rental income reached EUR 164.6 million, 30.3 percent growth compared with the same period last year. The portofolio of the company increased at EUR 5.3 billion, from EUR 4.9 billion at the end of 2017 and an ...
The developer of Cosmopolis residential project buys 10 more hectares of land
Tuesday, September 4, 2018
Opus Land Development, the developer of 80 hectares residential project Cosmopolis located close to Stefanestii de Jos, will purchase seven more land plots of about 10 hectares, for around EUR 2.5 million from Atlas Construct company, http://business-review.eu informs. The developer sold until now around 3,000 apartments in Cosmopolis, a project launched in 2007, in which invested around EUR 300 million to this ...
The luxury resort planned by the government near Costinesti will require a few hundred million euros
Tuesday, September 4, 2018
One of the strategic objectives included by the government on a recent to-do list is a luxury resort on the seaside, between Costinesti and 23 August village, http://business-review.eu reports. At present, the 800 hectares that the authorities want to use are in the wilderness, with a dirt road and around 150 meters away from the shoreline. The project includes ...
Number of employees in modern office buildings in Bucharest could reach 270,000 by the end of the year
Tuesday, September 4, 2018
The number of employees in Class A and B office buildings in Bucharest has reached about 253,000 at the end of the first semester of 2018, a slight increase compared to the end of 2017. In H1 2018, the number of employees working in companies with headquarters in modern office buildings in the capital increased by 3,000, according to estimates of Cushman & Wakefield ...
Atria Urban Resort, new residential real estate project worth over EUR 100 M announced in Bucharest
Tuesday, September 4, 2018
Straulesti Lac Alfa SA, a company owned by SIF Moldova and Cityring Property announces the development of a large-scale residential village with 1,400 apartments set in four phases up to 2023, following an investment of over 100 million EUR and a master-plan developed by a renowned London firm, romaniajournal.ro reads. The new project is being built in Bucharest’s Sector 1, near Straulesti Lake, adjacent to the Colosseum Retail Park, and spans ...
Agriculture: Minister Daea: Wheat yield 200,000 ton higher this year than in 2017
Tuesday, September 4, 2018
The wheat yield is this year 200,000 tons higher than in 2017, exceeding 10 million tons although it has been a difficult year, when Romania was devastated by extreme natural phenomena, said Petre Daea, the minister of agriculture and rural development declared at a press conference. The head of MADR added that barley harvests were also higher than last year. MADR data show that this year’s wheat harvest exceeded ...
Gov't passes de minimis aid scheme for promoting Romanian wines abroad
Tuesday, September 4, 2018
The Government approved on Wednesday the establishment of a de minimis aid scheme for the promotion of Romanian wines in third countries, governmental spokesman Nelu Barbu said Wednesday."At the proposal of the Ministry of Agriculture and Rural Development, a de minimis aid scheme has been introduced for the promotion of Romanian wines in third countries. In order to help wine growers and in an attempt to increase the attractiveness of the promotion measure under ...
Trade: Consumer goods market, up 8.4 percent in first semester of 2018 (survey)
Tuesday, September 4, 2018
The consumer goods market recorded a 8.4pct boost in the first half of this year as compared to the same period in 2017, the increase coming equally from inflation (+ 4pct), twice as compared to the first half of last year, according to Eurostat), as well as by the increase in purchased amounts, according to a study sent on last Thursday.From the point of view of the purchasing behavior, families in Romania have purchased more often consumer household goods and ...
Local smartphone market up 40 pct in H1; average selling price 200 euro per device
Tuesday, September 4, 2018
The local smartphone market increased by approximately 40 percent in H1 2018 from the same period of 2017, with smartphones selling for an average price of EUR 200-plus, shows a specialist survey by Avenir Telecom released on Thursday. "Customers began seeking higher-value phones, showing a preference for the manufacturers' flagship products. The operators' offers helped tip the scales in making the purchase decision, as did the retailers' aggressive offline ...
Telecom : Fixed and mobile phone suppliers compelled to allow access to their infrastructure
Tuesday, August 28, 2018
Fixed and mobile phone suppliers with significant power in the local market will have to allow access for the use of specific elements of the associated network and infrastructure and apply, as of May 1,2019, equivalent interconnection conditions to all persons requesting or benefiting from interconnection, according to an ANCOM decision draft, submitted to public debate on the institution website. According to the source, the 36 fixed telephone ...
Trade : Romania imported food for 3.3 billion euros in semester 1, 2018
Tuesday, August 28, 2018
In the first semester of 2018, Romania’s imports totalled 40.2 billion euros, of which 8.2% were food imports - 3.3 billion euros. This amount has not been mentioned after 1989 and is double the amount recorded in 2008, official statistics show. Data communicated by the National Statistics Institute (INS) show that Romania’s food exports in the first half of 2018 were only 2.2 billion euros, with a trade deficit of 1.08 billion euros, ...
Products of strict need more expensive between June 2017-June 2018
Tuesday, August 28, 2018
Prices of products and services of close necessity, such as basic food, fuel, energy or transport and cable-telephone-TV subscriptions went up mostly over June 2017- June 2018, statistics show. Inflation was 5.4% in June and seems to have been lower against the real evolutions of living costs, while prices of close necessity products went up even more. For instance, electricity costs went up by 16.9%, natural gas by 10%, fuel 17.4%, cigarettes 7.2%, ...
GfK Temax: Household goods market grows by 19% in H1
Tuesday, August 28, 2018
The household goods market in Romania exceeded 1.4 billion euros in the first semester of the year, on the rise by 18,9% against the same period of 2017, according to the GfK Temax study released on Monday. The telecommunication segment recorded sales of 627 million lei, 35.9% more than in s.1, 2017. Smart phones with 5.6 inch diagonal and products from the highest price class recorded values two times higher than in s1, 2017. Dual sim phones ...
Imported meat and meat products worth 340.3 million euros, in the first five months of 2018
Tuesday, August 28, 2018
Romania imported meat and meat products worth 340.3 million euros, in the first five months of 2018, up 14.2 per cent compared with the same period last year, according to data centralized by the National Institute of Statistics (INS).In exchange, exports of meat and meat products were almost two fold smaller than imports, accounting for 171.9 million euros, although they recorded a 2.4 growth in the first five months of this year, compared with the same interval ...
Pegas out on the European market by listing on five Amazon platforms
Tuesday, August 28, 2018
Pegas, the bike brand re-launched by entrepreneur Andrei Botescu, will come out on the European market by listing on five Amazon platform markets in Spain, France, Germany, Italy and the UK, the next step being to enter the US market, romaniajournal.ro reports. “Besides the local partners in Italy, Luxembourg, Germany, Great Britain, Sweden and Poland, Amazon provides access to the entire European market, and the implementation of a successful ...
Romania’s soft drinks market heads to EUR 1.29 billion
Tuesday, August 28, 2018
The soft drinks market in Romania is heading to RON 6 billion (EUR 1.29 billion) this year after having grown by 24% in the last five years, according to an analysis by financial consultancy firm KeysFin. The KeysFin analysts also expect the combined profits in this sector to reach RON 844 million (EUR 181 million). The market has seen a faster increase between 2015 and 2018, due to massive advertising investments and higher ...
Bucharest has over 50 wine bars and shops, Timisoara and Cluj fall in its footsteps
Tuesday, August 28, 2018
Bucharest has over 50 wine bars and shops, with between two and three popping up every year, a survey by Revino.ro shows. Up-and-coming cities such as Timisoara and Cluj are coming close in terms of growth, after many such venues opened in the past years. The growing number of wine bars and shops shows that the local public is increasingly more educated and interested in wines, especially in Romanian wines, the survey’s authors say. In ...
Romania running 138.5 ml lei surplus in five-month international footwear trade
Tuesday, August 28, 2018
Romania's Jan - May international footwear trade was running a surplus of 138.5 million euro, shows data centralized by the National Institute of Statistics.Jan - May 2018 footwear exports amounted to 536 ml euro, 9.6 pct lower compared to the similar period of the previous year, while imports totaled 397.5 ml euro (up 4.2 pct).FOB exports in the first five months of this year totaled 28.092 bln euro and were 8.8 pct higher compared to the similar ...
Infrastructure : Tarom resumes Bucharest-Baia Mare flights
Tuesday, August 28, 2018
Tarom, the flag carrier and oldest currently operating airline in Romania, resumed Bucharest-Baia Mare flights and introduced two flights per week, http://business-review.eu informs. The route will operate starting 6 September. The company made the announcement via its official Facebook account. ...