RSS
Economic
Sun Plaza Shopping Mall In Bucharest To Open On Feb 25 After EUR200M Invest
Tuesday, February 9, 2010
Sun Plaza shopping mall in Romania’s capital city Bucharest will be opened on February 25, following a EUR200 million investment, according to Austrian investor Sparkassen Immobilien AG and Romania-registered developer EMCT, with a one-week delay from the latest announced date.The construction has a built area of 210,000 square meters, of which 80,000 square meters of retail area.The project's completion was postponed several times. Initially, the works were scheduled for completion in ...
Romania Set To Limit Sale Of Cigarettes, Alcoholic Drinks In Duty-Free Shops
Tuesday, February 9, 2010
Romania’s government decided Friday to empower competent ministries to start drafting the normative act meant to limit the sale of cigarettes and alcoholic drinks in duty-free shops, in a move to fight illicit trade, people close to talks said last Friday. Sources also said the government discussed in its meeting Friday, among others, the issue of contraband cigarettes and alcoholic drinks sold in duty-free shops.They added competent ministries would start drafting the acts needed to ...
Romania Agric Ministry To Pay Farmers 2009 Overdue Subsidies In Two Stages In February
Tuesday, February 2, 2010
Romania’s Agriculture Ministry will pay farmers, in the first half of February, 990 million lei (EUR1=RON4.1319) in overdue subsidies for October and November 2009, while overdue subsidies of RON370 million for December 2009 will be paid until the end of February this year.The ministry established a payment schedule for overdue subsidies, whereby overdue subsidies for October and November 2009 will be paid in the first half of February, while overdue subsidies for December 2009 ...
Romanian Transp Min: Railway Sector Subsidies Should Be Hiked By 30-40%
Tuesday, February 2, 2010
Romania’s Transport Minister Radu Berceanu on Monday said spending cuts and a correct calculation of subsidies would help solve problems in the country’s railway sector, adding financial aid granted to companies in the sector should be hiked by 30-40%. Berceanu said, at the end of a meeting with the International Monetary Fund officials, that subsidies are calculated at much lower values than necessary and this situation only leads to gaps, overdue debts and ultimately to figures, which ...
PM Boc: European funds for the Calafat-Vidin bridge will not be lost
Tuesday, February 2, 2010
Romania and Bulgaria will not lose the European funds for building a bridge over the Danube between Calafat and Vidin, Romania's Prime Minister Emil Boc said on Wednesday after a phone conversation with his Bulgarian counterpart Boiko Borisov.In the same context, he announced he will be paying a visit to Sofia to discuss the bridge project.'I have had a phone conversation with the Bulgarian prime minister today. This February there will be a visit to Sofia, a visit to ...
Medicine Prices In Romania To Grow Come Apr 1 Due To Exchange Rate Shift
Tuesday, February 2, 2010
The prices for medicine will grow in Romania starting with April 1, since the state budget law uses an exchange rate of EUR1=RON4.25, as opposed to the RON4 for EUR1 exchange rate used in the 2009 state budget, said Health Minister Cseke Attila."This adjustment can only take place within the boundaries of changes in the exchange rates. The Ministry of Health's policy does not involve price hikes, but the 2010 state budget law uses an exchange rate of RON4.25 for EUR1, as opposed to RON4 for ...
New car sales fell in 2009 to lowest level for 6 years
Tuesday, February 2, 2010
2009 sales of new cars plummeted 54% to their lowest level since 2003 to 147,962 cars from 324,033 units a year earlier, according to data provided by the Association of Motor Manufacturers and Traders (APIA). For 2010, APIA expects 130,000 new vehicle registrations in 2010, of which 115,000 for new passenger cars. In 2009, passenger car sales fell 52% last year, to 130,193 from 270,899 new registrations a year earlier. Sales in December alone were down by 36% to 8,262 units. ...
Bucharest Needs 140,000-170,000 New Homes To Catch Up With Warsaw, Prague, Budapest
Tuesday, February 2, 2010
Romanian capital Bucharest has 404 apartments for every 1,000 people, and a further 140,000-170,000 need to be built before it reaches the level of other European capitals such as Warsaw, Prague and Budapest, according to a study by Colliers International."With 404 flats for every 1,000 people, Bucharest is behind important capitals in Central and Eastern Europe. On the long term, Bucharest would need around 140,000-170,000 more homes to reach the level of the analyzed capitals (…), to cope ...
Interest rates for three-room apartments: from 600 down to 350 euros in two years
Tuesday, February 2, 2010
The monthly rate for a three-room apartment in Bucharest slid from around 600 down to 350 euros in less than two years, amid the decline by almost 50 percent of the price of a dwelling and on the background of smaller interest rates under the 'First Home' programme, shows a research of Ziarul financiar daily. If in March 2008, when the old apartments in Bucharest reached a peak of around 2,060 euros sq m, the three-room apartments in neighborhoods such as Drumul Taberei or Titan ...
Romania’s PC Sales Drop More Than 55% In 2009, To Nearly 500,000 Units
Tuesday, February 2, 2010
Personal computer (PC) sales in Romania saw a sharp decline of over 55% in volume in 2009, to nearly 500,000 units, compared with 1.08 million units in 2008, PC producers said Wednesday, citing preliminary data from market research company International Data Corporation (IDC).In 2009, the segment of notebooks, desktops and servers was mainly affected by the economic downturn, which triggered lower demand by individual consumers, on the one hand, and small and medium enterprises, on the other ...
Omnilogic launches cloud computing solution
Tuesday, February 2, 2010
Omnilogic, one of the largest providers of computer technology solutions in Romania, announced the launch of OmniVServ, its first cloud computing service for businesses and individual users that minimizes IT costs, as all applications, technologies and data are made available on a virtual server.OmniVServ doesn't involve additional investments in end-user’s infrastructure, but along with the constant cutting-edge technology and maximum data security, it also provides 24x7x365 ...
Domestic market services information system - IMI
Tuesday, February 2, 2010
The European Affairs Department (DAE) organized on last Thursday, at the Parliament Palace, the conference meant to launch the 'Development and Strengthening of the Services IMI S NET Network in Romania' project, selected within the Sectoral Operational Programme Human Resources Development 2007-2013 (SOP HRD).The domestic market information system, IMI, is an instrument aimed at supporting the competent authorities within the European Economic Area, which are under obligation of ...
Romanian farmers received 1.28 billion euro from EU in 2009
Tuesday, January 26, 2010
APIA – Payment and Intervention Agency for Agriculture announces it made payments of 1.28 billion euro in 2009 from the European Agricultural Guarantee Fund (EAGF) and from the European Agricultural Fund for Rural Development (EAFRD) representing forms of financial support for farmers.APIA informs that over 1 January – 29 December 2009, it paid 1,281,765,140 euro as follows: from EAGF payments were made for SAPS 2007, 2008 campaigns and down payments for 2009. The amounts of ...
Blue Air adds new routes from March
Tuesday, January 26, 2010
Low-cost airline Blue Air will launch flights between Bucharest and Dublin and Bucharest and Florence. The new destinations will be included in the summer timetable (March 28 – October 30, 2010) for whicc tickets have already been put up for sale.The flights to Ireland’s capital will be operated on Mondays and Fridays in March 28 – October 30, 2010 period and on Wednesdays during June 1 – October 30. The price of a ticket starts from €39.99segment (all fees included).The routes are ...
Marvel Promotions opens Romania’s most luxurious hotel
Tuesday, January 26, 2010
Marvel Promotions, the developer of home-building project Monte Carlo Palace said it would begin the construction works for the most luxurious five-star hotel in Romania, which would cost the company some €20 million, as part of the luxury project Galerie Vendome Palace.The project that will be located in city center, near Athenee Palace Hilton will open its doors in 2012, and will boast a luxury shopping area. The hotel will have 120 rooms. “We have already concluded an agreement ...
Tourism employers reject lump-sum tax
Tuesday, January 26, 2010
The Employers Federation in Romanian Tourism (EFRT) is totally against including the tourist activity on the list of lump-sum taxation, with the prime minister's remarks that there is tax evasion in the tourist sector seriously damaging tourism in terms of economy and image, Federation chairman Daniel Vasilescu has said in a release.'The tourist companies are being managed by modern means and the shareholders are fully interested that the companies should get favourable results, in ...
Real estate market to revive in 4-5 years
Tuesday, January 26, 2010
The economy credit market is still in his early Romanian days. There have been threee banks, another one has announced its intentions, but in he end the Romanian market entered the new year with two major players: BCR Banca pentru Locuinte (Bank for Homes) and Raiffeisen BpL. CEC postponed a similar project, while HVB and Raiffeisen joined on the economising-crediting segment. Both banks for residences are supported by a strong Austrian bank. Additionally, the ex-Raiffeisen BpL went over to ...
The first Cosmote service through Zapp : mobile broadband internet of 6.71 euro
Tuesday, January 26, 2010
Cosmote launched four subscriptions for mobile broadband internet at monthly prices between 6.71 euro and 22 euro ( without VAT), both for residential clients and companies, the new service being presented as “ one of the first results of the common efforts of the two teams, Cosmote and Telemobil. The new solution for mobile broadband internet for laptops offers transfer speed of up to 3.1 Mbps for download and 1.8 Mbps for upload, through the broadband network CDMA of Telemobil which has ...
Vodafone estimates the local cell phone market to 5 million units in 2009
Tuesday, January 26, 2010
Cell phone sales in 2009 reached approximately 5 million units against 2008, says Andrei Oltei, terminals manager in Vodafone Romania, the second cell phone operator on the local market. In 2008, the cell phone market was estimated at about 5.5 million units. Oltei declara in septembrie anul trecut ca, pana la finalul lui 2009, piata ar putea ajunge la vanzari de telefoane intre 5-5,5 milioane de exemplare. Oltei stated in September last year that, until the end of 2009, the market could ...
IKEA’s 2009 sales fall 9%
Tuesday, January 19, 2010
Sales at IKEA store in Baneasa fell to 349.24 million lei (€82.5 million) in Jan-Dec period, 9% below year-ago levels.The euro value of IKEA Romania sales in 2009 dropped 21.2% from €104.7 million a year earlier.The number of visitors to IKEA store stood at 2.52 million in 2009, versus 10 million products sold.Furniture items accounted for 60% of IKEA’s total sales in 2009, while accessories and decorations for 40%.The best selling home furnishing items were the FAKTUM kitchen series with ...