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Around 75% Of Romanian Pharmacies Close To Bankruptcy
Tuesday, February 16, 2010
Around 75% of Romanian pharmacies are on the brink of bankruptcy, having stretched themselves too thin by continuing to provide discounted and free medicine, according to Petru Craciun, director of market analysis firm Cegedim.There are between 4000 and 5000 pharmacies in Romania.Craciun said the 75% figure is realistic. "We have repeatedly warned that 25% of pharmacies are barely running, and that was before [state] payments were delayed last year. Cegedim has data about the condition ...
Switzerland offers financial support to Romanian health care system
Tuesday, February 16, 2010
The continuation of the assistance provided by the Swiss Government to the Romanian public health care system was discussed on Thursday by the Health Minister Cseke Attila upon meeting Livio Hurzeler, the Swiss Confederation Ambassador in Bucharest.On this occasion, the two officials expressed their wish to continue the assistance granted by the Swiss Government to the Romanian health care system, as main cooperation theme within the Swiss Solidarity Project for the new EU member ...
Ministry of Communications to pay 90 M euros for Microsoft licenses
Tuesday, February 16, 2010
Romanian Ministry of Communications is to pay, until 2012, in nine equal instalments, the amount of 90.18 million euros (VAT included) for the right to use a total of 163,427 Microsoft licenses in about 30 public institutions.By the end of the year, MCSI must pay the first instalment, financiarul.ro reads on Friday.Among the beneficiaries of the licenses there are the Interior, Justice, Finance, Defense, Health and Agriculture ministries. MCSI organised a tender in July 2009, but ...
Romanian teenagers, great amateurs of music stored on portable players or mobile phones
Tuesday, February 16, 2010
Half of the Romanian teenagers are great amateurs of music stored on portable players or mobile phones, while one quarter of the Romanians watch the billboards during their daily journey to work, says a study ordered by Omnibus and conducted by GfK Romania consultancy company. The research found that the vast majority of Romanians likes to chat and does that quite often, either directly (71 percent) or on the mobile phone (52 percent),Three quarters of the young people ...
Area of office premises in Bucharest amounts to two million square metres
Tuesday, February 16, 2010
The total rentable area of office premises will increase to two million square metres in 2010 according to a release of the RealTime real estate company. The main problem of the ones who rent or want to rent office premises consists in the difficulty to compare the opportunities existing on the market, this is the conclusion of a study performed by the RealTime real estate company.Such a comparative analysis is difficult to get, because each developer or consultant presents hisher ...
Avrig 35 and Cascade invest €80 million in a shopping park
Tuesday, February 16, 2010
Avrig 35, held by Alexander Hergan, together with real estate developer Cascade Group will invest €80 million in a new shopping park in east Bucharest. The anchor tenants are Auchan hypermarket and Decathlon, apparels and sport-equipments retailerPallady Shopping Center will be located near the subway station Nicolae Teclu and is scheduled to open doors in the second half of 2012, and represents an investment of €80 million. Construction works will begin in May-June this year. The ...
Over 400,000 People Liable To Sanctions For Unfarmed Lands
Tuesday, February 16, 2010
Over 400,000 people holding more than 1.5 million hectares of unfarmed lands are likely to be sanctioned as of spring, Agriculture Ministry state secretary Adrian Radulescu said. Radulescu said Romania registers 1.5 up to two million hectares of unfarmed land owned by 400,000 up to 500,000 people, adding talks on levying new taxes are underway.Unfarmed lands account for nearly 20% of Romania's total farming area, and nearly 8.1 million hectares of land are already farmed. Romania's ...
EU funding for fishing communities and areas
Tuesday, February 16, 2010
Fishing communities and areas will be able to access 100 million euros in European funding for the development of alternative economic activities, Minister of Agriculture and Rural Development Mihail Dumitru told a press conference. 'The money is included in Axis 4 of the Operational Fishery Program and can be accessed by local communities and groups formed through local partnerships with a view to improving living standards and preventing the depopulation of these areas,' said Dumitru. ...
Ten percent of total auto parts sold in Romania are counterfeit
Tuesday, February 16, 2010
Counterfeit auto spare parts traded in Romania account for 10 percent of the total products market and caused damage to the Dacia-Renault Group amounting to five million euros in 2009, Renault Romania quality and services manager Jean Francois Martin told a press conference on Monday.'In 2009, out of the total local auto parts market, around ten percent of the products were counterfeit. This means that for Dacia-Renault Group the loss amounted to five million euros. This way, there ...
Auto part producers want to relocate in Romania
Tuesday, February 9, 2010
Twelve auto part producers intend to relocate their factories in Romania to reduced costs, but for now they are waiting for a more stable macroeconomic environment.Constantin Stroe, the president of the Association of Car Builders in Romania (ACAROM) says investments are in stand-by the East being less favored now for relocations.Most investments in the car industry have been made in the past ten years and are concentrated in the western part of the country.The president of ACAROM adds that ...
ALD Automotive increases fleet by 800 vehicles
Tuesday, February 9, 2010
ALD Automotive, the vehicle leasing arm of Societe Generale had 5,147-vehicle fleet at the end of 2009, and after only two months into 2010, the company expects to have 6,000 vehicles under management.“At the end of 2009, ALD Automotive had 5,147 vehicles under management for 223 customers. We expect our fleet to increase to 6,000 vehicles by end-February”, said Vincent Kneppert, chief executive of ALD Automotive.The vehicle leasing company signed a fleet-management agreement with Petrom.The ...
Erste: CEE pharma stocks to regain momentum in 2010
Tuesday, February 9, 2010
Stocks of healthcare companies in the Central and Eastern Europe due to their defensive nature are bound to regain their appeal this year, after having fallen from investors’ grace in 2009, according to an Erste Group research.“Going forward, their defensive nature will play both for and against CEE pharma stocks. For 1Q10, the sentiment is foreseen to favor cyclicals, with investments in pharma titles to be sidelined. However, as economic conditions remain fragile and the impact of the ...
Wizz Air estimates traffic of 2.1 mln passengers in Romania, in 2010
Tuesday, February 9, 2010
Hungarian low-cost air company Wizz Air estimates some 25 percent rise in the number of passengers in Romania, in 2010, from 1.6 million passengers to 2.1 million passengers, announced on Thursday Gyorgy Abran, commercial director of Wizz Air.'This year we will introduce two new Airbus A310 aircraft for Romania and new routes, and each aircraft will transport 300,000 passengers this year, both planes going to start operations in June', said Wizz Air representative.He ...
Great Britain, interested in transport infrastructure in Iasi
Tuesday, February 9, 2010
Great Britain could be interested in the development of Iasi international airport, if a tender will be organized to this end, announced on Thursday the Ambassador of the United Kingdom of Great Britain and Northern Ireland to Romania, Robin Barnett, at the meeting with representatives of Iasi County Council and with interim prefect Sava Dragomir Tomaseschi.The British diplomat emphasized the importance of Iasi International Airport modernization, as well as of the county's ...
Romanian Realty Transactions Drop More Than 27% In ‘09, Total Taxes Dn 52%
Tuesday, February 9, 2010
The number of real estate transactions was down 27.28% on the year in 2009, at 352,518, below notaries' estimates early 2009, and the value of income taxes from property deals was down 52%, to 498.7 million lei (EUR1=RON4.1214), the National Union of Notaries Public In Romania (UNNPR) said .In 2008, a total 484,767 real estate transactions were closed and the value of taxes on property deal revenues reached RON1.048 billion, according to notaries' data. Early 2009, UNNPR ...
Consultation mechanism between economy ministries from Romania and Bulgaria
Tuesday, February 9, 2010
State secretary with the Ministry of Economy, Trade and Business Environment Maria Parcalabescu and Deputy minister of economy, energy and tourism from Bulgaria Ivo Marinov have convened the possibility of replacing the joint inter-governmental commission of economic cooperation between the two states with a consultations mechanism at the top level of institutions they represent.The Bulgarian official who coordinates activities of foreign trade and tourism was visiting Romania on ...
Bucharest Hotels See 20-Year Low In January ’10 Load Factor
Tuesday, February 9, 2010
January 2010 was the weakest month in the past 20 years for hotels in Bucharest, which were forced to close some 30% of their rooms, due to an average load factor below 30%, Hotel Industry Federation secretary general Mihai Rijnita said."January 2010 was the poorest month in the past 20 years for Bucharest hotels, with respect for the load factor as well as regarding the average fees," Rijnita said.He added that in January the average load factor dropped below 30%, an unprecedented level ...
EU Cuts Subsidies For Energy Crops In 2010
Tuesday, February 9, 2010
Romania’s Agriculture and Rural Development Ministry said Thursday no subsidies will be grated for crops used to produce bio-fuels starting 2010."In 2009, the European Commission decided not to grant financial support for energy crops, as the objective to increase production was met sooner than it was initially foreshadowed," the Agriculture Ministry said in a press release Thursday. According to the ministry, the EC regulation no. 732009 states that "due to recent developments in ...
Agriculture Minister: Fungicides based on Initium have temporary authorization
Tuesday, February 9, 2010
Romania is the first country in the world temporarily authorizing, on a three-year period, fungicides based on Initium and, if scientific evidence points to some harm, this authorization shall be withdrawn, announced Minister of Agriculture Mihail Dumitru on the public TV channel.The official stressed that the new fungicidal active substance used on vine, potatoes, tomatoes and onions crops, to protect the plants against pests, was tested by several research institutes from Romania ...
Study: Half Of Romanians Say Prices Of Food, Non-Food Products Went Up During Crisis
Tuesday, February 9, 2010
Nearly half of Romanians believe prices of food and non-food products went up during the economic crisis, over 40% of Romanians believe prices remained unchanged, while 46% of them said they noticed a wider range of consumer sales promotions, according to market research agency Mercury Research.According to the study, 49% of respondents said prices of food products went up, while 44% of them said prices of non-food products went up. The study also shows 43% of respondents believe ...