RSS
Economic
Bucharest New Housing Sales Fall On Low Consumer Confidence
Tuesday, December 7, 2010
Bucharest’s stockpile of newly-built housing stood at 10,000 units in the beginning of the year, with less than a quarter sold so far for prices below EUR90,000, the threshold applied for 5% VAT eligibility, according to a survey by real estate consultancy firm Real Time. The survey notes that in 2007 some 95% of dwellings were selling in the project phase, and there were also cases where units were sold before construction permits were obtained. However, only 5% of units were sold early in ...
Survey: Bucharest Apartment Prices Fall 15% In 2010
Tuesday, December 7, 2010
The sale prices of apartments in Romania’s capital city Bucharest dropped 15% in average in 2010, and will continue to fall next year, according to a survey conducted by real estate website imopedia.ro."The price of apartments put up for sale in Bucharest fell this year due to the economic and social problems," Razvan Muntean, the general manager of imopedia.ro, said in a statement Tuesday. The average sale price of a one-room flat in the center of Bucharest was at EUR59,500 in ...
KPMG : Public Sector Involvement Critical in the Roll-out of Next Generation Broadband Infrastructure
Tuesday, December 7, 2010
As the appetite for faster data processing speeds and larger bandwidth increases, the role of the public sector in accelerating initial deployment of fiber-based Next Generation Network (NGN) infrastructures in countries around the world will be imperative to maintain a competitive economic edge, a KPMG International report has found. The KPMG Infrastructure Spotlight Report, “The Roll-out of Next Generation Networks – Investing for 21st Century Connectivity”, examines how nine ...
Romania backs two-pillar CAP, further support by direct aid and rural development
Tuesday, December 7, 2010
At the meeting of the Agriculture and Fisheries Council, Romania expressed its support for maintaining the two-pillar structure of the common agricultural policy CAP (with reliance on direct subsidies and rural development), and with a budget sufficient to allow farmers face the multitude of current challenges, informs a release of the Ministry of Agriculture and Rural Development (MADR). Present at the Monday meeting in Brussels, Romanian Minister of Agriculture Valeriu Tabara ...
Leonard Orban: Romania interested in substantial common agriculture and cohesion funds after 2013
Tuesday, December 7, 2010
The Presidential Adviser for European Affairs, Leonard Orban, stated on Thursday, in a press conference together with the European Commissioner for Financial Programming and Budget, Janusz Lewandowski, that Romania is very interested in the Common Agricultural Policy and the Cohesion Policy to receive after 2013, as well, consistent funds, in circumstances in which there are already attempts to define the new European Union budget. 'The most important policies for Romania are those ...
Romania To Ban Non-Organic Fermented Drinks, Except Beer, Wine
Tuesday, December 7, 2010
The use of sugars, starch or similar products in producing fermented alcoholic drinks, other than beer and wine, to increase potential alcohol levels, will be prohibited, says a draft decision by the Ministries of Agriculture and of Health.The document says only fruit, parts of fruit and honey may be used in the production of fermented alcoholic beverages, while the use of starch, sucrose and glucose will be banned, because of these ingredients' adverse health effects. The act ...
Tourism in statistical data in first 10 months
Tuesday, December 7, 2010
The arrivals at the tourist accommodation structures decreased by 2.1% over January-October 2010 compared to same period of 2009, while the overnight stays decreased by 8.6% in the same period, according to a release from the National Statistics Institute (INS). The arrivals at tourist reception structures over January-October 2010 totaled 5.197 million, down 2.1% compared to January - October 2009. Romanian tourists' arrivals at tourist accommodation structures ...
Air Berlin to operate charter flights from Nuremberg to Constanta starting 2011
Tuesday, December 7, 2010
Air Berlin air carrier will operate charter flights from Nuremberg to the Black Sea port of Constanta (south-east of Bucharest), with collecting flights from Dusseldorf, Berlin, Hamburg and Vienna starting in 2011, the Ministry of Regional Development and Tourism announced on Monday. The cooperation agreement between Romanian national air company Tarom and Germany's Air Berlin was forged on the occasion of the launch of Romania's tourist brand in the German market, in Munich. ...
Construction of Romanian section of Pan-European Coridor IV to cost 8.5bn euro
Tuesday, December 7, 2010
The construction of the Romanian section of Pan-European Transport Coridor IV to highway level will cost 8.58 billion euros, Daniela Draghia, deputy general manager at National Company of Highways and National Roads of Romania, told a Monday's seminar on infrastructure. 'The construction of the 857-km Romanian section of the Pan-European Transport Corridor IV to highway level, from Nadlac (west) to Constanta (south-east), will cost 8.58 billion euros, with most sections to be ...
Romanian PM Says Transylvania Highway Works To Continue, Govt Seeks Funding
Tuesday, December 7, 2010
Romania’s Prime Minister Emil Boc said Saturday works on the Transylvania Highway will continue in 2011, adding the Government is seeking ways to continue funding the project.U.S. constructor Bechtel, which is building the highway, said in November it started procedures to lay off its over 800 employees working on the project, arguing the construction area is not ready for further works and the Romanian state has not paid its debts for works in 2010.Prime Minister Emil Boc and ...
Romania Launches EUR5.5B In EU-Funded Infrastructure Projects By End-2011
Tuesday, December 7, 2010
Romania’s Transport Ministry will launch EU-funded projects worth EUR5.57 billion by the end of next year, among which the construction of 289 kilometers of highway and the upgrade of 166 kilometers of railway, Transport Minister Anca Boagiu said Sunday."We're using EUR5.5 billion from the Transport Operating Program and 72% of the ministry's budget for next year, namely 8.3 billion lei (EUR1=RON4.2923), to co-finance these projects," Boagiu told a news conference. By the end of ...
Romanians Drink Less Spirits Because Of The Recession
Tuesday, December 7, 2010
Consumption of spirits in Romania has decreased this year to 5 liters per capita from 6 liters per capita last year because of the recession, Romulus Dascalu, head of the Garant employers’ association in the industry, told MEDIAFAX. Dascalu said the consumption of spirits was at 8.5 liters per capita in 2008, decreased to 6 liters per capita in 2009 and estimates for this year indicate a decrease to 5 liters per capita."For this year, we estimate a consumption of 90-100 million liters, down ...
Over 200 million euros invested in housing developments in Titan so far
Tuesday, November 30, 2010
Titan district has seen more than 200 million euros invested in homes. Developers have managed to sell about 80% of them.Titan has been one of Bucharest's most sought after districts of by real estate developers, as well as by customers in the last few years, so around 80% of the homes completed between 2007 and 2010 in eastern Bucharest have been sold, according to a ZF analysis.Smaller projects, such as Swiss Cottage (102 apartments), Titanium (73 apartments) and Siriului ...
Bucharest Dwelling Prices Deter Clients From Purchase
Tuesday, November 30, 2010
The price of homes in Bucharest remains high compared to demand expectations, limiting the number of real estate transactions, according to real estate consultancy company Coldwell Banker Affiliates of Romania.Over 5,000 potential buyers are looking at the residential offer in Bucharest, but the main deterrent consists of the asking prices, according to Coldwell. "Many potential buyers find a piece of property they would like to buy, but they postpone the purchase, seeking a ...
Romania has the lowest yoghurt consumption in Central and Eastern Europe
Tuesday, November 30, 2010
Romania has the lowest yoghurt consumption per capita (3.46 kg in 2010, 3.28 kg in 2009) among central and east European countries, compared to Bulgaria with 11.14 kg in 2010 and 12.22 kg in 2009, or to the country with the highest per capita yoghurt consumption – Slovenia with 13.86 kg in 2010 and 13.55 kg in 2009, according to a study made by MEMRB presented at a press conference in the presence of Danone representatives.According to internal Danone estimates, Romania had in ...
Cushman & Wakefield: In 2011 we do not expect return of important retail investments in Romania
Tuesday, November 30, 2010
Today’s stability will allow a recovery in 2011 in the retail sector concerning existing areas with high difference between primary and secondary locations. At the same time retailers compete to obtain the best locations a Cushman & Wakefield report shows.The percentage of free locations and offers, especially commercial areas – will contribute most to the development of retail performances in 2011, according to the new European retail report “Key Drivers in Retail for 2010” released on ...
Asus wants leading position on PC segment in CEE
Tuesday, November 30, 2010
Boosting deals with CEE governments and public institutions will be a priority in the following period for Taiwan's Asus company, one of the world's biggest PC producers, which hopes it will this way secure the leading position in the region in terms of computer sales. Sales particularly related to the consumer and corporate segment have propelled Asus among the top three companies on the PC markets of Romania, Poland, Bulgaria and Ukraine, according to company data. In the ...
Romanian State Institutions Might Be Connected To High-Speed Optical Fiber Network In Two Years
Tuesday, November 30, 2010
Romanian Communications Minister Valerian Vreme said Saturday that the ministry has recently completed a study to create a common electronic communications infrastructure, adding that in six months, 52% of state institutions might be interconnected through a high-speed optical fiber network.The minister also said that in two years, all state institutions will benefit from this network.Vreme highlighted the network will lay the foundation of Romania's informational system, and added ...
Government approved the co-payment system for medical services
Tuesday, November 30, 2010
The government approved a draft law introducing the co-payment system for medical services, Health minister Cseke Attila declared. According to him, the system will be implemented in June or July 2011 after the debate in the Parliament of the draft law. The co-payment will be made through health tickets and the ceiling of the annual contribution is 600 lei. Above this sum, no co-payment will be made. The health ticket will function as a payment instrument and will contain data identifying ...
Romania to collaborate with Great Britain and Netherlands to transform Constanta in the biggest port in Europe, after Rotterdam
Tuesday, November 30, 2010
British and Dutch Ambassador talked with Romanian Transports minister Anca Boagiu about the possibility to collaborate to maximize the potential of the Constanta port in the region, to become the second biggest port in Europe, Transports ministry informs. According to the press release, the two Ambassadors said that Constanta has an important potential for the economic development of the region. Romania needs to modernize the infrastructure that connects Constanta of the country, the ...