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Gucci, Armani and Franco Ferre open stores in Romania
Tuesday, June 1, 2010
In the second year of economic crisis famous luxury brands such as Gucci, Armani or Franco Ferre open stores for Romanian consumers, incont.ro informs.According to market source, Gucci will open a 270 square meter store in the five star hotel Athenee Palace Hilton, following a 2 million euro investment. At the same time, Armani fashion house will inaugurate its first store on Victoria Avenue in Bucharest. The brand comes to Romania through Alsa Boutiques company, the largest luxury ...
MMP might sign 2.6 billion euros worth of infrastructure development contracts in 2010
Tuesday, June 1, 2010
The Ministry of Environment and Forestry (MMP) has set to sign infrastructure development contracts worth 2.6 billion euros in 2010, Minister of Environment Laszlo Borbely told a Central and Southeast European Financial Forum . 'We have set to conclude in 2010 contracts worth a total of 2.6 billion euros, co-financed from European funds, targeting infrastructure generation. This is achievable,' said Borbely. He also pointed out that the largest projects are those aimed at creating ...
Over 293 million tons of goods transported on Romanian roads in 2009
Tuesday, June 1, 2010
293.409 million tons of goods were transported on Romanian roads last year, of which 283.272 million tons had a national destination , 7957 million tons went abroad and 2.18 million tons of goods were in transit, according to statistics published on the site of the Ministry of Transports and Infrastructure. In 2009 262.311 million passengers chose road transport. Of them 259.443 million had a national destination and 2868 million passengers went abroad. The average transport distance was 65 ...
Study: Developers redesign shopping center schemes into retail parks
Tuesday, May 25, 2010
Many of the developers that announced shopping centers have started redesigning their shopping center schemes into retail parks or building a hypermarket with a DIY box andor a smaller shopping gallery, accepting rents of €10sqm, according to a Colliers International study.Developers are beginning to redesign their shopping centes into big box retail schemes as a result of increased big box tenant demand in particular by DIY retailers and hypermarkets who are aggressively fighting for ...
Number of passangers transported by Wizz Air, up by 30 pct
Tuesday, May 25, 2010
Wizz Air company carried more than 1.76 million passengers over the past 12 months from and to Romania, and 3.6 million passengers since 2006. The newest destinations unveiled by the company are Cuneo Torino, Zaragoza, Pisa and Weeze Dusseldorf from Bucharest and Cluj-Napoca; Forli Bologna from Timisoara, and Alicante in an exclusive flight from Cluj-Napoca. Wizz Air celebrated last week six years in business at European level. Wizz Air fleet comprises 30 Airbus A320 aircraft, ...
Romanian Transports Ministry Needs RON3.16B For Transylvania Highway
Tuesday, May 25, 2010
Romania’s Transports Ministry needs 3.16 billion lei (EUR1=RON4.1998) this year to continue work on the Transylvania Highway, but has only received RON700 million from the state budget and its debts to U.S. constructor Bechtel amounted to RON900 million in late-2009.Bechtel is currently working on the final ten kilometers of the Campia Turzii-Gilau segment and the 64 km-long Suplacu de Barcau-Bors segment. The highway's constructor has gradually reduced the pace of work on the two ...
Survey: Romania to produce 500,000 cars in 4 years time
Tuesday, May 25, 2010
Romania's car production will rise by 63 percent over the next 5 years, whereas the world car industry reports an upward trend, according to the Autofacts survey conducted by PricewaterhouseCoopers (PwC) and quoted by the Capital daily.PwC predicts the number of made-in-Romania light vehicles will hike from 296,310 units in 2009 to 483,171 units in 2014.The 63.1-percent rise in the local production is above the 49.1-percent average of the entire world car industry, informs the ...
Automotive market drop eases in April
Tuesday, May 25, 2010
New car registrations in Romania dropped 56 percent in the first four months of 2010 compared with the similar period of 2009, to 17,694 units versus 40,178 units in January-April 2009, according to statistics with the European Automobile Manufacturers' Association (ACEA), released on Monday.In April 2010, as many as 8,875 new cars were registered in Romania, down 19.7 percent from April 2009.ACEA statistics cover the automotive markets of 28 European states - 25 European ...
Sol Melia Hotel Group Eyes Romanian Coast, Bucharest Market
Tuesday, May 25, 2010
Spanish group Sol Melia, Europe’s third largest hotel chain, has plans to enter the Romanian market in the near future by opening four- and five-star hotels on the Black Sea coast and in Bucharest, its general manager for Bulgaria, Jose Manuel Navarro, said Saturday.Navarro said the company is evaluating opportunities on the coast, but no discussions have been finalized. He said the Romanian seaside hotels require large investments and renovation, because of their age."There are ...
Euromonitor: The number of foreign tourists in Romania to rise 18% by 2014
Tuesday, May 25, 2010
The international tourism receipts in Romania will rise 18% by 2014 compared to 2009, to 9.6 million visitors annually, according to the international market intelligence company, Euromonitor. Romania will thus be the fifth largest east-European market by tourism receipt, after Russia, Ukraine, Poland and Croatia.“As for tourism expenditures in the country, Romania takes the last but one spot in the region, with €125 per visit, outranking Lithuania”, Mantas Kalunia, Euromonitor expert ...
Romania’s Govt Promises IMF To Tax Drug Sellers’ Turnover
Tuesday, May 18, 2010
Romania’s government engages to introduce the tax per planned turnover for the drug distributors, according to the additional document that will be sent to the executive board of the International Monetary Fund, obtained by MEDIAFAX.The letter that the government will send IMF general manager Dominique Strauss-Kahn anticipates zero or even negative economic growth and a fiscal gap of 9% of the gross domestic product, within the basic scenario.In order to reduce the budget deficit to 6.8% ...
BSA study: Software piracy level dropped to 65% in Romania in 2009
Tuesday, May 18, 2010
The software piracy level for PCs dropped by 1% in Romania last year, from 66% in 2008 to 65% in 2009, while almost 50%. Half of the 111 countries entered in the study recorded drops in the piracy level and 17% of them have seen an increase in the trend. . The losses of the industry caused by software piracy dropped to 183 million dollars in 2009, a study Business Software Alliance carried out in partnership with IDC. BSA calculates that the software piracy rate for Romania shows ...
Romania’s Govt Adopts Decision To Implement Digital Television
Tuesday, May 18, 2010
Romania’s Government adopted a decision to implement digital television, which will enable telecoms regulator ANCOM to start procedures to award the first two licenses in the sector, Communications Minister Gabriel Sandu said.The normative act adopted by the Government Wednesday sets the conditions, license fees and the type of procedures to award license for digital television services. According to the document, the winners of the first two multiplex digital systems will be ...
Opening of first Bentley, Lamborghini showroom in Romania postponed until economy recovers
Tuesday, May 18, 2010
Works at the first Bentley and Lamborghini showroom in Romania have advanced to more than 50%, but the opening of the showroom has been postponed until the Romanian economy recovers, Brent Valmar, head of Porsche Romania, said at an event marking the launch of the new generation of Porsche Cayenne on the local market.The showroom is being built in Pipera, north Bucharest with a total investment of 20 million euro. But works have been halted for the moment. The company started works ...
Romania ‘Cash For Clunkers’ Program Doubles Car Registrations In April
Tuesday, May 18, 2010
Romanian new car registrations more than doubled to 8,875 units in April from 4,027 units a month earlier, boosted by the government-funded cash for clunkers program, the Automotive Manufacturers and Importers Association, or APIA, said ."The (monthly) increase is spectacular, the first of this magnitude in the past years," APIA vice-president Constantin Stroe told MEDIAFAX. "It's the result of the cash-for-clunkers program and it could also be a sign of market revival." On an ...
Decathlon opens store in Era Shopping Park
Tuesday, May 18, 2010
Sports apparel retailer Decathlon has leased 2.2 hectares plot of land in Era Shopping Park retail park where it will open a new store by the end of the year, the developer of the park, Omilos Group said.Era Shopping Park will have a 4,100 sqm Decathlon Sports store and a 2,000 sqm sports area. The retailer acquired 2.2 hectares land plot in ERA Shopping Park where it will open a new store by the end of the year.The tenant mix at the retail park includes Carrefour (15,400 ...
Liebrecht&wooD To Invest In Retail Park In SE Bucharest
Tuesday, May 18, 2010
Belgian real estate developer Liebrecht&wooD wants to build a retail park, which will include a shopping outlet, in the southeastern part of Bucharest, managing director Johan Rogiers told MEDIAFAX.Rentals on the first phase of the project, with an area of 90.000 square meters, will start in summer.The project will be developed on a 60-hectares plot, bought by Liebrecht&wood last year, and it will be similar to the one developed by Baneasa Investments close to national road DN1 in Bucharest, ...
Five-star hospitality industry won’t recover any sooner than 2011
Tuesday, May 18, 2010
Even if the average occupancy rates rose modestly in the first three-four months this year, the revenue per available room remained weak throughout the Jan-Mar period.“Over the past three months, the RevPAR dropped from €23 in January 2009 to €21 in January 2010, from €30 in February 2009 to €27 in February 2010, and from €35 in March 2009 to €30 in March 2010. In these circumstances, I don’t think the market will recover any sooner than early 2011”, Sorin Ionescu ,managing partner of ...
Cluj Airport first in Romania given status of international airport
Tuesday, May 18, 2010
The Airport in Cluj Napoca (central west) received the status of an international airport, and according to the Cluj County Council's president Alin Tise and to the Airport's director David Ciceo, it is the first Romanian airport having such a status, so far.After Romania's joining the Schengen space, due next year, the regular flights to the Schengen countries will be allowed to take off only from such airports, Tise told a news conference on May 12.The other categories are the ...
Bulgaria counts on EU funds for two more bridges with Romania
Tuesday, May 18, 2010
Projects for another two bridges over the Danube – Oriahovo- Bechet and Silistra-Calarasi will receive EU financing as part of the strategy for the Danube, declared the Bulgarian minister for regional development, Rosen Pleneliev at a press conference about EU strategy for the Danube area held in Ruse. Bulgarian premier Boiko Borisov, the European commissioner for regional policies, Johannes Hahn and the Bulgarian minister of economy and tourism also participated, according to ...