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Economic
Blue Air slashes long-haul flights from Cluj amid fierce competition
Tuesday, March 23, 2010
The low-cost airline Blue Air said it would transfer to Sibiu its all long-haul flights it had been operating from Cluj-Napoca International Airport. The carrier decided to cease its three times weekly flights from Cluj-Napoca International Airport to Rome and Paris.“The falling load factor has been the crucial factor in our decision to cease flights from Cluj to Rome and Paris. The company recorded significant loss over the past few months due to these routes”, Blue Air representatives told ...
Colliers appoints ex-DTZ chief as regional director for CEE
Tuesday, March 23, 2010
Real estate advisor Colliers International has appointed the former DTZ CEE chief John Verpeleti as managing director of investments for Central and Eastern Europe.In his new role, Australian-born John Verpeleti will be responsible for the company’s real estate investments in Poland, Czech Republic, Hungary, Slovakia, Romania, Bulgaria and Ukraine.Prior to joining Colliers, Verpeleti held various management positions at AXA Real Estate Investment Management and DTZ where he ...
Office rental prices drop by 41.5 pct
Tuesday, March 23, 2010
The prices for a square metre of office space rent have dropped by between 20.1 and 41.5 percent in the last 12 months all over Romania, shows an analysis conducted by real estate portal www.imobiliare.ro. The price per sqm in Bucharest has gone down by 26.7 percent to 10.33 euros. In the central Brasov city, the price has dropped by 31 percent to 6.40 euros a sqm, while in Cluj-Napoca (central-western Romania) it has fallen by 30.7 percent to 7.12 euros a sqm. The prices for ...
Old Car scrappage scheme to be assigned 50,000 extra vouchers
Tuesday, March 23, 2010
The government at the meeting held in Iasi (eastern Romania) decided to assign 50,000 extra vouchers to individuals, under the Old Car scrappage programme, Prime Minister Emil Boc announced. Thus, the car fleet renewal programme was supplemented with RON 195 million, Boc said. 'I say this to assure those Romanians who want to benefit from the scheme that we do have the necessary financial resources to continue it,'' said the Premier. According to him, there were already launched ...
INS: Turnover of motor vehicle and motorcycle trade down in January
Tuesday, March 23, 2010
Turnover of motor vehicle and motorcycle trade dropped by 27.8 percent and 5.3 percent respectively in January 2010 against the previous month, both as gross series and as adjusted series by the number of working days and seasonality, according to the data centralized by the National Statistics Institute (INS).The gross decrease was reported both by motor vehicle trade (minus 38.7 pct) and the sale of motorcycles, relating parts and accessories, motorcycle maintenance and repair ...
Cisco: Mobile data traffic to grow 108% by 2014
Tuesday, March 23, 2010
The global mobile data traffic is likely to reach 3.6 exabytes (3.6 billion gigabyte) per month or an annual run rate of 40 exabytes by 2014, Cisco said in a report.Cisco Visual Networking Index indicates that the surge in mobile-ready devices and mobile video would fuel 39-fold global growth by 2014 or a compound annual growth rate of 108%.Two major global trends are driving this increase-the proliferation of mobile-ready devices and widespread mobile video content consumption. By ...
Health care in Romania: Fighting collapse
Tuesday, March 23, 2010
"With a 2010 health care budget of 3.6% of GDP, Romania comes last in the European Union in terms of health care financing. Moreover, since that the last trimester of 2009 was financed with credits from the 2010 budget, the real figure for this year is around 2.3–2.6% of GDP. This money will only last until July 2010.” — Romanian College of Physicians in a press release Rather remarkably, Atilla Cseke, Romania’s minister of health, didn’t dispute the notion that his country’s health care ...
Berceanu: We could complete 30-40 km of motorway in 2010
Tuesday, March 16, 2010
The Ministry of Transports could complete 30-40 kilometres of motorway this year if the allocated funds were only be directed towards certain projects, said Transports Minister Radu Berceanu following the Monday meeting with the ruling Democratic Liberal Party (PD-L) parliamentary group of the Chamber of Deputies.'We could complete 30-40 kilometres of motorway this year if we are to use the allocated funds for certain projects only, but we have projects funded under European funds ...
Romania eyeing extended cooperation with Air Berlin in wintertime
Tuesday, March 16, 2010
Romania's Litoral Association and Germany's Air Berlin Company have signed an agreement under which the charter flight operated by Air Berlin from Munich to Constanta is to be promoted May-September 2010, with the Romanian officials voicing intention to expand partnership with Air Berlin in wintertime.'The signing of the agreement is the first step in the cooperation of Romania with Air Berlin and we hope we will be able to extend cooperation in the future to include more flights. ...
Metrorex received 35 offers for the Raul Doamnei – Eroilor underground section
Tuesday, March 16, 2010
Metrorex received 36 offers from almost 20 consortiums and companies for the building of the Raul Doamnei – Eroilor section of the Magistrala 5, the estimated value of the contract being 1.16 billion lei. The bid is still finding the location Raul Doamnei – Hasdeu (920 million lei) and Romancierilor – Valea Ialomitei ( 246 million lei). For each part there were 18 associations and companies. Among them Aktor, Alpine, Max Boegl, PorrSCTHidroconstruct, AstaldiFCCDelta ACMAB Construct, as well ...
Sorin Serb, IBM: We would have to skip some stages to reach the region’s maturity
Tuesday, March 16, 2010
Romania’s IT&C market lags far behind other countries in the region, said Sorin Serb, manager at IBM, the world’s largest computer-services provider, “which is why the Romanian information technology sector should skip some stages to catch up to where the markets in the region are today”, he added.One of the challenges the local market is facing arises from the discrepancy between Romania and its peers.“What we’re trying to do is cut our customers’ costs by delivering new cost ...
Grim outlook for the hospitality industry. Only 2% execs see a sustained recovery
Tuesday, March 16, 2010
Only 2% of executives in the European hospitality industry see a sustained recovery in the year ahead, according to a DLA Piper survey.55% of the respondents expect a full recovery in room rates in 2012 to pre-financial levels.The majority of respondents said the hospitality sector would offer increased opportunities for joint ventures in 2010. The DLA Piper 2010 European Hospitality Outlook Report – launched at the International Hotel Investment Forum earlier this week – revealed different ...
TUI: Romania Is Eight Years Behind Bulgaria Regarding Tourism Development
Tuesday, March 16, 2010
Romania is about eight years behind Bulgaria regarding tourism development and attracting foreign investors, said the manager of German Group TUI for Morocco, Romania and Bulgaria, Detlev Hohne, quoted by Deutsche Welle.Hohne said Bulgaria made a significant progress following privatization, adding Romania is still unable to attract foreign investors and is about eight years behind Bulgaria as regards tourism development.Hohne added that Romania could be a popular tourist ...
Eurobarometer: Two thirds of Romanians not going on holiday in 2008 invoke financial reasons
Tuesday, March 16, 2010
As many as 62 percent of Romanians who did not go on vacation last year proceeded like that due to financial reasons' (as against 41 percent the European Union average) and a Romanian in 10 invoked 'personal reasons' (compared to 22 percent of EU average), reveals an Eurobarometer study presented by the European Commission.As well, 12 percent of the Romanian citizens who did not go on vacation in 2009 said that the reason was the 'lack of time' (13 percent of EU ...
Romanian Agriculture Ministry Careful About Authorizing GMOs
Tuesday, March 16, 2010
Romania’s Agriculture Ministry is “careful” about approving the growth of Genetically Modified Organisms (GMO) and authorization will only be granted on the basis of a solid scientific evaluation and proof of economic advantages, minister Mihail Dumitru said.In order for a GMO to be grown in Romania, an evaluation, carried out by the European Food Safety Authority, must prove the GMO presents no risk to the health of humans, animals or the environment, and must show a significant economic ...
Suzuki recalls 150 Swift cars in Romania for possible technical issues
Tuesday, March 16, 2010
Suzuki Romania recalls 147 Swift cars in service to check the position of a fuel lead the company’s director Alin Radu declared, quoted by 0-100.ro. This action has taken place the Japanese from Suzuki decided last week to recall 39,000 Swifts made in Hungary to check the lead's position. Suzuki Romania official explained that the owners of the 147 targeted cars will be sent registered letters, personalised, inviting them to bring their car to one of the Suzuki services for checks. ...
Romania Imported 65% Less Used German Cars In ’09
Tuesday, March 16, 2010
The number of used cars brought to Romania from Germany decreased last year by 65.3%, one of the reasons being the German clunkers program, according to the German Federal Statistics Office.Last year, 213,000 old used cars were registered in Romania, down 29% on the number seen in 2008, while new car registrations decreased by 59%, to 116,000 units, according to the Romanian license and registrations issuing authority. German used car exports decreased last year by a total ...
Dacia Duster launches in Romania on March 18
Tuesday, March 16, 2010
Dacia will officially launch its SUV Duster on march 18 in the presence of French driver Alain Prost, who drove the competition Duster model at the Andros trophy. Duster costs 10,500 euro in Romania and the maximum price with all options included reaches 17.600 euro.Dacia receives orders for Duster since March 2 and the first deliveries will be in April. The first car will be delivered to the Presidency. Dacia is currently producing 100 cars per day and its capacity will increase if orders ...
Multinationals swap Bucharest CBD with secondary locations
Tuesday, March 9, 2010
Office space demand across secondary markets outside Bucharest is expected to grow gradually, led by multinational companies that are already moving their staff to high-quality low-rent office premises in Timisoara, Cluj-Napoca or Brasov. Wall-Street interviewed market specialists to assess the chances of the secondary market to prime locations in their race for large corporate tenants looking for quality office space. An increasing number of companies have expressed their ...
Eurostat: Romania, the third retail trade decline in EU
Tuesday, March 9, 2010
Romania had in January the third drop of retail trade in EU, when sales dropped by 10.3% compared to the same period of 2009, while on the overall trade registered a decline of only 1.6% in EU according to data published by Eurostat.In the euro area, retail trade dropped by 1.3%.The biggest drops compared to January 2009 were in Latvia (-16%), Lithuania (-13.6%) and Romania, while in Sweden, Malta and Austria there were significant retail trade increases of 3.4%, 2.6% and ...