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Economic
Supermarkets, retail stars: Over 40 stores and investments in excess of 65m euros
Tuesday, December 21, 2010
Whereas 2009 was the year of discount chains, this year it was supermarkets' turn to become the most dynamic segment in modern retail. 2010 saw the opening of more than 40 supermarkets, with the most active players on this segment being Mega Image with 21 stores in 2010, Billa with 13 and Carrefour with 10, according to ZF data.Considering that the average investment in a supermarket amounts to around 1.5 million euros, retailers have invested over 65 million euros in the 44 stores ...
Farmers in disfavoured areas to receive EU funds even if they are not registered as PFA
Tuesday, December 21, 2010
Animal growers and ecological land farmers of the disfavoured areas will get EU funds even if they are not registered as Authorized Physical Persons (PFA), Romania being given the EU Commission's assent, in the respect, Agriculture Minister Valeriu Tabara said.The Government, on Wednesday, passed a decision that cancels the PFA registrations for the farmers living in the disfavoured areas, process that was going slowly and jeopardizing the 17 or 18 million EU funds due to be ...
Agreement on financing Borsec resort promotion project
Tuesday, December 21, 2010
Minister of Regional Development and Tourism Elena Udrea, in Borsec spa, Harghita County (central Romania), on Friday, signed the agreement on financing the promotion project called Renewal of Balneary Traditions. Promotion of Tourism and Spa Resources and Values in Borsec area, a project promoted on the 5th Priority Axis 5: Sustainable Development and Promotion of Tourism - 5.3 Intervention Domain.The project is worth over 720,000 lei (rd.170,000 euros - editor's note) and it is ...
German brands top Romanians' used car preferences
Tuesday, December 21, 2010
In order to avoid paying a car tax that could be even 50 pct higher as of January 1, 2011, and given also that they either cannot afford it, or just do not want to buy a new car, the Romanians this November went on a second hand car buying spree. Thus, 26,887 used cars were registered in Romania in November 2010, up 80 pct compared to November 2009, writes daily Gandul. Since the first announcements were made in September about the planned increase of the car tax, ...
Dacia sells 2.5bn euros' worth of cars in Europe
Tuesday, December 21, 2010
Automobile Dacia sales will exceed the 2.6 billion-euro mark in Europe this year, according to ZF estimates, up nearly 40% against the similar period of last year. The higher rise in the value of sales than in the number of cars registered comes at a time when the average price of a Dacia has risen to around 10,000 euros from a prior 8,000 euros, with the current best-selling model being the Duster SUV, whose price can exceed 18,000 euros. Dacia officials did not wish to comment on the ...
Romania Dental Market to Grow at 17% CAGR during 2010-2012
Tuesday, December 21, 2010
Romanian dental market is anticipated to grow at a CAGR of around 17% during 2010-2012, says RNCOS in its latest research report.Romania has emerged as one of the most popular destinations in Europe for dental treatments on account of unprecedented growth in its dental market during the past few years. Being a source as well as destination market, the Romanian dental industry revenue is expected to increase manifold in the coming years. According to our research report “Romania Dental Market ...
Ropharma - New pharma player in the market
Tuesday, December 14, 2010
Starting with November 24, 2010 Ropharma Brasov (RPH) shares are traded on the Bucharest Stock Exchange (BVB) main market, Tier I. Previously, Ropharma shares were listed on the OTC market RASDAQ under the ticker IAFR. Ropharma is a practically vertically integrated Romanian pharmaceutical player. The company, which is the ninth largest player on the wholesale market according to pharma statistics provider Cegedim, owns a 96-unit retail chain of pharmacies (roughly 1.5% of the total number ...
Food Industry Employers: Romanian Agriculture Consumes More Than It Produces
Tuesday, December 14, 2010
Romanian agriculture consumes more than it produces and food products whose prices increased the most in the last year were local, said Tuesday Sorin Minea, head of the employers association in the food industry, Romalimenta."The agriculture sector's contribution to the state budget has decreased. Right now, Romanian agriculture consumes more than it produces. (...) Have you noticed that food products that get more expensive are Romanian?" said Minea at the Romania Retail Forum, organized by ...
Romanian Cattle Farmers To Receive RON410Head In State Aid
Tuesday, December 14, 2010
Romanian cattle farmers will receive state aid amounting to 410 leihead (EUR1=RON4.2998), according to a Government decision allotting RON569 million for around 225,000 beneficiaries.The scheme will cover the owners of almost 1.4 million cattle. Agriculture Minister Valeriu Tabara said payments would begin as soon as the Decision is published, since banks are willing to provide the money up front, on the basis of certification from the ministry and the Agency for Agriculture Payments ...
Renault Sales In Romania To Drop 11% In 2010, To 9,000 Units
Tuesday, December 14, 2010
Sales of Renault cars in Romania will drop 11% this year, to 9,000 units, and the French carmaker’s market share will increase by 1.2 points, to 8%, as the overall Romanian car market will have a downfall trend, according to the carmaker. Last year, Renault sold 10,114 cars in Romania. Dacia and Renault marketing manager Mihai Bordeanu said Wednesday Renault will not expand its dealer network in 2011, and added that, by the end of the year, a showroom will be opened in Targu Mures, central ...
Romanian Dacia Logan Sales In Russia Up 15% In Jan-Nov 2010
Tuesday, December 14, 2010
Romanian carmaker Dacia sold 56,119 Logan models in Russia in the first eleven months of 2010, up 15% from 2009, ranking sixth among the best-sold brands, in a market which grew 28%, to 1.7 million cars.In November 2010, Dacia sold 5,893 Logan models, 15% more than in November 2009, according to the data of the Auto Constructor Commission with the Association of European Companies in the Russian Federation. Logan is the Renault group's only model among the 25 best-sold cars on this ...
Romanian Telecom Market Revenues Fell In 2010, Decrease Rate Below 2009 Level
Tuesday, December 14, 2010
Revenues on the Romanian telecom market continued to decrease this year, but the decrease rate is below that registered in 2009, when the telecom market shrank 15% compared to 2008, to EUR3.9 billion, communications regulator ANCOM president Catalin Marinescu said Wednesday.According to Marinescu, the number of hard-line and mobile phone subscriptions decreased, adding the internet service segment registered a significant increase. The number of audiovisual service subscribers ...
Mobile Operators Vodafone, Cosmote To Launch iPhone 4 In Romania On Dec 17
Tuesday, December 14, 2010
Apple's iPhone 4 will be available from Romanian mobile operators Vodafone and Cosmote starting with December 17, alongside special plans aimed at its users.The iPhone 4 enables video calling with FaceTime and comes with a high-resolution display, HD video recording, a 5-megapixel camera, Apple A4 processor and more, Orange Romania said in a press release.iPhone 4 comes with the iOS4 operating system, which includes over 100 new features.Romania's largest mobile operator, Orange, launched ...
48,000 people work in Romanian IT
Tuesday, December 14, 2010
If the present software piracy in Romania could drop by 10% in the next 4 years 3,700 jobs could be created and over half a billion dollars could be added to GDP, a study made by International Data Corporation for Business Software Alliance shows. The rate of software piracy has been in constant drop since 2003 when it was 73%, reaching 65% in 2009. The study shows that Romanian IT employs 48,000 people and their number will grow by over 40% by 2014.IDC estimates that if the ...
Romania last in Europe for Internet penetration
Tuesday, December 14, 2010
Romania ranks last of the 27 EU countries for Internet access, the penetration rate of high speed fix lines being 13.7% per 100 inhabitants in Romania in July 2010, according to a CE report.Comparatively, at European level the broadband penetration rate is 25.6% per 100 inhabitants as against 24.8% in January 2010 and 23.9% in July 2009.The Netherlands is the country with the highest penetration of broadband Internet with 38.7%. As for access to mobile Internet Romania has a ...
Bucharest Baneasa Airport will serve business flights and low cost flights will move on Otopeni Int'l Airport
Tuesday, December 14, 2010
Transports ministry plans to transform the Bucharest Baneasa Airport by 2012-2013 in an airport reserved for business and VIP flights and therefore move the current low cost flights on Otopeni Int'l Airport causing higher costs for low costs. In a European capital city, with a normal evolution, the transformation of the Bucharest Baneasa Airport is a necessity, Transports minister Boagiu declared in a press conference. She said that the move will give an important message for citizens in ...
Modern Retail Exceeds 50% Of Romania's Commerce In 2010
Tuesday, December 14, 2010
Modern retail--hypermarkets, supermarkets, cash&carry and discount stores--accounted for over 50% of Romania's total retail market this year, exceeding traditional commerce, according to Competition Council official Valentin Mircea. In 2009, traditional commerce accounted for 55% of the total local retail market, he said. "Due to large retail networks' investments, and the insolvency of some small stores, modern commerce exceeded this year the traditional one," Mircea told the "Romania ...
Sales of retailers present in Romania to rise 62% until 2020
Tuesday, December 14, 2010
The sales of retailers present in Romania will rise 62% in the next ten years, with Romania ranking 3rd in Europe in a classification of the biggest rises forecast for the next decade, according to a survey conducted by real estate consultancy company King Sturge and published in Capital weekly.Ahead Romania are Baltic states Latvia (69%) and Lithuania (65%). The statistics is optimistic if the current situation is considered. Last year, Romania's retail market shrunk ...
Luxury homes market seeks salvation in rental
Tuesday, December 14, 2010
About 900 luxury apartments in Bucharest have been waiting for their owners for more than two years, these building developers having hanging around their necks a business worth over 240 million euros. 'Luxury' Bucharesters were the first targeted by investors taking refuge in Romania at the start of the real estate market boom. They constructed hundreds of villas to satisfy a demand that seemed incessant. Developments of this type have been refined in time and the situation ...
Romanian Dacia New Registrations Up 11.8% On French Mkt In November
Tuesday, December 7, 2010
Registrations of Romanian new Dacia cars in France increased 11.8% on the year in November, to 8,223 units, on a market that shrunk 10.8%.Dacia's market share rose to 4.2% in November, from 3.4% in the same month last year, according to data from the committee of French carmakers (CCFA). Among non-French brands, the Romanian carmaker was overtaken by Volkswagen (12,826 units), Ford (9,165 units), and Opel (9,077 units). There were, however, more registrations of Dacia automobiles than of ...