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Italy, willing to invest in Romanian communications sector
Tuesday, June 15, 2010
The Minister of Communications and Information Technology, Gabriel Sandu said at the ceremony occasioned by the conclusion of the Memorandum of Understanding that Italian partners were willing to invest in Romania.“Practically, Italy representatives came here with a range of services, including financing. Italy will provide technical assistance throughout the entire process, from financing to implementation”, said Sandu.The agreement was concluded between the Romanian Government, represented ...
Recession weighs on luxury apartment rents
Tuesday, June 15, 2010
Rental levels for luxury apartment fell between 30 and 70% since the onset of the financial crisis, the location of the apartments being the most important factor in the end-rent, representatives of Regatta real estate consultant said.Luxury apartment rental levels dropped 30% - 70% since fall 2008 to date, the biggest decline being observed in spaces that were overpriced before the recession. Today, landlords seem to be more open for negotiation and are willing to accept a lower rent than ...
Romanian new car market dropped 49% in five months
Tuesday, June 15, 2010
New car registrations in Romania saw a 24% decrease in May 2010 in comparison with May 2009 and from January until end May, the recorded drop was 49%, show the data coming from the Driving Licence and Car Registration Authority (DRPCIV). Ferrari registrations almost tripled in the first five months of the year, while Chinese brand Great Wall went up 70%, even if the volumes are small. Volume brands saw drops similar to the market's average: Dacia 43%, Volkswagen 52%, Toyota 58%, Skoda 45%. ...
New Saab 9-5 available in Romania
Tuesday, June 15, 2010
The new Saab 9-5 Sedan can be ordered in Romania for an initial price of 32,713 euro for 160 hp diesel.A smaller engine of 1.6 l able to supply 180 hp and an engine of 2 l Bio Power supplied by bi-ethanol E85 will be introduced. The traction system for all Saab XWD wheels is offered for engines of 2.0 gasoline , Bio Power and 2.8V6. the chassis with adaptive control and the possibility of selecting settings for driver through Saab Drive Sense and the adaptive lighting system Bi-Xenon Smart ...
First Morgan car sold in Romania
Tuesday, June 15, 2010
The importer of the luxury British car Morgan, Pro Auto Industries will deliver the first car this year and will have talks with a potential buyer for the second car.In 2009 we sold three units and this year we will deliver a Morgan Roadster 4 Seater for the price of 49,000 sterling pounds. We are also negotiating an order for Morgan AeroSuperSports, which costs about 140,000 sterling pounds, said Anda Mancas, project manager of Pro Auto Industries.She pointed out that next year the dealer ...
real,- Hypermarket cuts prices to offset Romanians' lower purchasing power
Tuesday, June 8, 2010
real,- Hypermarket Romania cuts prices in order to offset Romanians' lower purchasing power, easing the people's access, affected by the austerity measures imposed by the crisis, both to food produce and non-food ones, the company informs.Until June-end, more than 300 products will be included in this programme to be extended in the upcoming months. The measure taken by real,- is not a temporary one, promotions style, the company also informs in its release.'Romanians' ...
Bergenbier CEO: 11% decline in beer sales after wage cut announcement
Tuesday, June 8, 2010
The Government’s austerity package that includes 25% public wage cut has generated a 11% decline in beer sales, said Mihai Ghyka, chief executive of Bergenbier, one of the largest brewers in Romania.“Government’s announcement of wage-cutting measures on a Friday night, has been immediately reflected in the following week’s numbers, namely 11% drop in sales. We have a very clear image on the consumer’s mindset and attitudes, and stores’ promotional offers are only desperate means to ...
Romania asks EC to recognise it as bovine brucellosis-free country
Tuesday, June 8, 2010
Romania asked the European Commission (EC) to be declared a bovine brucellosis-free country, and the dossier Romania submitted is about to be approved by the European experts in maximum one month, announced the National Sanitary Veterinary and Food Safety Authority (ANSVSA).By the end of 2010, ANSVSA will ask the EC for the disease-free status on other three diseases, such as bovine tuberculosis, enzootic bovine leucosis and equine infectious anaemia.By receiving the ...
Deal signed for additional flights between Israel, Romania
Tuesday, June 8, 2010
Israel and Romania have signed a new aviation deal for the operation of up to 14 weekly flights between the two countries by the El Al and Tarom airlines, without any commerce or capacity restrictions. In addition, each country will be able to designate another airline to operate up to seven flights to different destinations in the other country. Transportation Minister Yisrael Katz welcomed the agreement, saying that it "will advance the level of competition on routes to and from Israel." ...
Gov't passes rehabilitation and upgrade of 10,000 km of county roads
Tuesday, June 8, 2010
The Romanian Government, on Wednesday, passed the rehabilitation and upgrade of 10,000 km of county roads, the programme being worth two billion euros, Minister of Regional Development and Tourism Elena Udrea said after the Government's Wednesday sitting.'The programme is expected to amount to two billion euros from the state budget, but also from other sources, local budgets, loans, while it will be in progress. In 2010, we are working to establish the how much money is required, ...
15 million euro investments in Romania-Bulgaria cross-border roads
Tuesday, June 8, 2010
The county roads in the cross-border region of Olt County (southern Romania) and Pleven, Bulgaria, will be modernized through investments of European funds amounting to more than 14 million euros.Chairman of the Olt County Council Paul Stanescu made it clear that two projects were declared eligible and were in the pre-contracting stage. These projects refer to the rehabilitation of two county roads in Romania and two in Bulgaria, both being near the border. The total value of the ...
PM Boc: In June 2011, the road from Pitesti to the Black Sea will be a motorway
Tuesday, June 8, 2010
In June 2011, Romanians will travel from the southern city of Pitesti to the south-eastern Black Sea coast on a motorway, Prime Minister Emil Boc said on Sunday evening at the end of a meeting of the Government that discussed austerity measures for which the Government pledges responsibility'I want you to know that at the beginning of the next summer season, in June 2011, the road from Pitesti to the Back Sea coast will become a motorway as works on the Constanta motorway, ...
Norwegian fund Romania Invest pays €2 mn for 30 apartments in Brasov
Tuesday, June 8, 2010
Norwegian investment fund Romania Invest, that holds around 750 apartments in a number of residential projects in Bucharest, acquired in February this year 30 apartments in Evocasa Viva compound, developed by Adama in Brasov, for an estimated €2 million.Negotiation talks for the 30 apartments build by Adama in Brasov opened in September 2009, the deal being closed after six months, in February. The value of the deal is estimated at €2 million according to Romania Invest.Evocasa Viva ...
Danube's flow, twice bigger than June's average
Tuesday, June 8, 2010
The Danube's flow at its entrance on the Romanian territory, at Bazias (southwestern Romania) is going to soar in the next period, ranging between 12,400 and 13,500 cmsec., about twice bigger than the multiannual average flow of June (which stands at 6,400 cmsec.), the Romanian Waters National Administration (ANAR) on Monday announced.According to a forecast by the National Institute of Hydrology and Water Management (INHGA), the Danube's flow when entering Romania on June 14th ...
Laguna Residence, another housing complex subject to developer-customer conflicts
Tuesday, June 1, 2010
Part of the clients who have made down payments of tens of thousand euros for apartments in Laguna Residence housing project on the banks of Lacul Tei are angry about the project's being delayed as it was due to be finished late last year and want their money back, in the context where the pace of works is slow and prices set two years ago are too high compared with the current market values. Developers say they are willing to cut prices by 20-30% and offer other incentives as well, but not ...
Head of five-star hotel pessimistic about Romanian economy in 2010
Tuesday, June 1, 2010
Ali Yilmaz Yildirimlar, 42, running Radisson Blu five-star hotel of Bucharest, is confident 2010 will bring no positive changes in the Romanian economy and wonders "how can this year be better than the previous year when we can hear people talk about tax changes and street protests". Yildirimlar says 2010 will be another challenging year and his arguments describe a real chain of weaknesses: "If corporate clients do not have cash flow, they will organise no trips, which entail accommodation, ...
Romania, criticized by EC in a telecom market report
Tuesday, June 1, 2010
One of the main problems in Romania's telecoms sector is the independence of the regulator, as it does not yet enjoy a stable legal base and some regulatory activities are not separated from ownership tasks, the European Commission said in its report on European telecoms market.The report notes that the institution has initiated infringement procedures in 2009, on certain irregularities found in the activity of the national regulator.The 15th Progress Report on European Telecoms ...
Plus opens new discount store in Romania
Tuesday, June 1, 2010
Discount-store chain Plus opened a new outlet in Ordohei, Harghita county, which represents a total investment of €1.5 million. The network now counts 101 stores across the country.The new store will have a gross surface of 1,400 sqm of 1,100 sqm is the retail surface. The unit is a freestander construction and has 70 parking spaces.Plus sells over 1,500 products, including basic food items, fresh fruits and vegetables, fresh meat, self-service, refrigerated and frozen products, as well as ...
Best malls in Bucharest: Cotroceni Park, Baneasa Shopping City and Bucuresti Mall
Tuesday, June 1, 2010
Eight of the most important consultants on the shopping centre market have drawn up the ranking of the best malls of Bucharest for Business Construct. Cotroceni Park, Baneasa Shopping City and Bucuresti Mall hold the top three positions. What makes them stand out from the rest of malls in the city? Cotroceni Park has the most likeable design, the best car park and the most attractive entertainment areas both for adults and children, arguments that turned the most expensive mall ever built in ...
Romania's 2009 domestic fowl imports stand at 22 million euros
Tuesday, June 1, 2010
Romania imported live hens, ducks and turkeys worth more than 21.977 million euros in 2009, up 26 percent from 2008, according to data with the Romanian Ministry of Agriculture and Rural Development (MADR) concerning Romania's foreign trade in agri-food products. The total volume of domestic fowl imported in 2009, which also included live geese and guinea fowl, neared 2,867.3 tonnes.In 2008, imports of domesticated fowls stood at 17.424 million euros and 2,797 tonnes of the fowls ...