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Economic
Government adds 267mln lei to local transport budget
Tuesday, December 15, 2009
The budget of the Ministry of Transportation and Infrastructure for 2009 has been increased by 267.2 million lei, of which 100million lei will fund major transport improvements performed by state-owned economic agents and 90 million lei for subsidizing public rail transport. “The government has adopted the decision to increase the budget of the Ministry of Transportation and Infrastructure for 2009 from the Government’s reserves by 77,292 thousand lei under Chapter 84.01, of which 10,992 ...
Wine to be Romania's ambassador abroad
Tuesday, December 15, 2009
The National Wine and Vine Employers Association (PNVV) and the Ministry for Foreign Affairs (MAE) organized a selection of high quality Romanian wines to be used as Romania's image abroad.MAE and PNVV signed a cooperation protocol on Nov 19, 2009, valid till Dec 31 2010. The protocol's main objective is setting up the general framework and establishing the terms MAE is to select the Romanian wines, particularly with the view to sending them to the Romanian missions abroad, and offering ...
Sales of Dacia cars double in France in November
Tuesday, December 8, 2009
The French group Renault recorded a solid growth in sales in November compared with the same month in 2008, with sales of Dacia cars also contributing in a significant manner.The sales of Dacia cars doubled in France in November, up to 90.4 percent, with the Romanian cars representing now 3.4 of the car market in this country. Moreover, the total sales of Renault cars recorded a growth by 40 percent last month.Sales of new cars jumped in France by 48.4 percent in ...
18 million euros invested in new hotel at Mamaia
Tuesday, December 8, 2009
The beginning of building work on a hotel complex in the Black Sea seaside resort of Mamaia (south-eastern Romania), an 18 million euro investment, which belongs to the international chain Ramada, was marked on Thursday, the representatives of the investing company and of the local administration attending.According to mayor of Constanta (south-eastern Romania) Radu Mazare, the four-star hotel complex Grand Sea Plaza will be finished in two years. This investment brings jobs both ...
Four Dutch Railway Industry Companies Interested In Romanian Market
Tuesday, December 8, 2009
Officials of four Dutch railway companies will visit Romania next week to set up partnerships, Romanian Railway Industry Association secretary general Stefan Roseanu told MEDIAFAX Friday.The four companies, Mitron, TKF, Pintsch Aben and BMCTransforma, will take part in a forum which will take place between December 8 and December 9 in Bucharest. The Delft Technical University and the Dutch Agency for International Cooperation and Business will also attend the forum. Afterwards, the ...
Berceanu: Work on road circumventing city of Arad to be finished in 2010
Tuesday, December 8, 2009
The Government in its meeting approved the beginning of the procedures meant to expropriate some buildings owned by private persons, situated in the area where National Road 5 between Adunatii Copaceni and Giurgiu (southern Romania) is being widened to four lanes, but also on the road circumventing the city of Arad (western Romania).'This is the expropriation of some portions of land necessary for going on with the work on the road circumventing the city of Arad. They work on ...
Feasibility study for Iasi-Targu Mures motorway to be put up for tender
Tuesday, December 8, 2009
Transport Minister Radu Berceanu has said in Iasi that in approximately 10 days a tender will be organised for a feasibility study for the Iasi-Targu Mures motorway.Berceanu also said the feasibility study should be completed by the summer of 2010 while the works on the motorway should be tendered in late 2010, so that in 2011 the works may start on one lane of the motorway in an attempt to increase traffic fluency and also to be linked as soon as possible to the Transilvania ...
Wizz Air adds new routes to Italy
Tuesday, December 1, 2009
Low-fare airline Wizz Air will introduce as of next year new routes from Timisoara, Cluj-Napoca and Bucharest to Italy.As of summer next year, the flight from Cluj-Napoca to Italy will be served by a new Airbus A320, thus raising Wizz Air’s fleet in Cluj-Napoca to 3 units and the total fleet for Romania to 7 A320 aircrafts.The new aircraft will take off as of June 12 and will enable the introduction of new routes from Cluj to Pisa and Cuneo. The airline will add new flights to Bucharest-Pisa ...
Romanian Telecom Industry Resists Financial Crisis By Adapting Offers To Clients’ Demands
Tuesday, December 1, 2009
The Romanian telecom industry managed to successfully resist the financial crisis by adapting offers to clients’ demands and stimulating consumption, which led to an over 30% mobile network traffic increase, telecom regulator ANCOM president Catalin Marinescu said Thursday.Besides, telecom operators managed to maintain or even increase their client portfolio by launching aggressive offers. Most of our clients will represent a reserve to account for local telecom operators' future business ...
Romania Telecom Operators To Benefit From EUR83M To Cover Blank Areas
Tuesday, December 1, 2009
Telecom operators will benefit from EUR83 million in 2010 to extend their network to uncovered areas, and the financial aid scheme is financed from European funds, Romanian Communications Ministry secretary of state Marius Fecioru said Thursday."These areas are called blank areas as operators did not invest in developing telecom networks, invoking profit issues. After several auctions, we are confident operators will start investments in developing networks to cover these areas mid next ...
Romanians Would Discard Landline Telephone, Cable TV Rather Than Internet
Tuesday, December 1, 2009
Romanian clients of telecom operators find it very easy to discard traditional landline telephone and TV cable services, but few of them would be willing to discard internet services in a bid to cut spending, on harsh economic conditions, Gabriel Mustea, a director with PwC Romania, said Thursday.He said the study dubbed "Impact of economic crisis on telecom and media consumption," conducted in the United States by Communispace, at the request of PwC, indicates subscribers, although more ...
Bucharest Underground Cable Sys Netcity To Develop Telecom Operators’ Networks
Tuesday, December 1, 2009
NetCity, the underground fiber-optic telecommunications network in capital city Bucharest, will develop the infrastructure of local telecom operators, cut upkeep costs and even develop an extended portfolio of telecom and IT services, Netcity Telecom commercial manager, Petru Fuiorea, said Thursday."The Netcity project serves the interests of citizens, local and central authorities, as well as telecom operators which, by using the Netcity network will be able to optimize their own ...
Rural boarding houses, tax-exempt
Tuesday, December 1, 2009
Boarding houses from rural environment or spas, agro- boarding houses or traditional houses might be exempt from the payment of the tax on buildings for a 10-year period, after their introduction into the tourist circuit, according to the draft law on tourism, posted on the web site of the Ministry of Foreign Affairs. This exemption from the payment of the tax on buildings enforces for beneficiaries having up to 45 years old and residing in the rural environment. The tax on income, ...
Thirty pct more tourists prefer cruises
Tuesday, December 1, 2009
Surprisingly, 30 percent more holidaymakers preferred cruises in 2009, compared to 2008, the croaziere.net web page reads. While cruises have been so far affordable for tourists with average and high revenues, they became also affordable for many holidaymakers earning average and small incomes, in 2009. For instance, one-week cruise packages on the Mediterranean cost 499, 599 and 699 euros, taxes included - according to the itinerary and the cabin's comfort, included. Cruise liners cut the ...
Romania Farming Agency Paid RON642M To Farmers
Tuesday, December 1, 2009
Romania's Farming Agency for Payments and Intervention in Agriculture (APIA) paid 642.3 million lei (EUR1=RON4.2648) to beneficiaries of the Single Area Payment Scheme (SAPS), the 70% downpayment of the approved amount, the institution announced . According to APIA, 496,519 farmers who fulfilled the conditions imposed by European regulations received the financial support.The downpayment is set at RON209.98 per hectare. The total amount of single farm payments is set at EUR71.12 per ...
150 million euros of European funds are drawn for rural development
Tuesday, December 1, 2009
Romania has drawn only 150 million euros of the European funds for rural development as the total financial allocation through the National Programme of Rural Development (PNDR) amounts to about 8.8 billion euros for 2007-2013.In keeping with the data supplied by the Agency of Payments for Rural Development and Fisheries (APDRP), by November 19, 2009, payments worth about 150 million euros were made to the beneficiaries of the investment measures implemented by APDRP. 7,247 ...
Survey: Bucharest Apartment Prices Dn 45% On Year In Nov
Tuesday, December 1, 2009
Bucharest apartment prices fell by an average 45% between November 2008 and November 2009, with the biggest fall registered by newly-built three-room apartments, according to a national index launched by imobiliare.ro website. Thus, the price of apartments in new residential compounds fell 51% on average in Bucharest, with three-room apartment prices down 54.29%. The prices of two-room apartments fell 49.57%, one-room apartments prices dropped 48.36%, while apartments with four rooms were ...
Most Romanian-Owned Retail Chains Entered Insolvency In ‘09
Tuesday, December 1, 2009
The leading Romanian-owned supermarket chains were deeply affected by the economic crisis this year, as they were confronted with a sluggish demand, high debts and a lack of financing, and most of them entered insolvency procedures.The hypermarket chain PIC - owned by brothers Cornel and Ilie Penescu - said it has asked for the beginning of the insolvency proceedings, as its sales fell and debts to suppliers continued to rise, despite a restructuring process started earlier in the year. This ...
Survey: Over 71 pct Romanians cut consumption or buy cheaper products because of crisis
Tuesday, December 1, 2009
One of the effects of the current economic downturn is the fact that 71.2 percent of the Romanians have cut the consumption or bought cheaper products, reads the market survey the Marketing Research Center MEDNET has conducted in November.According to it, the crisis's effects are ever more present in the Romanians' life, 17.1 percent of them saying that the economic downturn affects them to a very large and 19.3 percent to a large extent. Only 12.3 percent answered that the crisis ...
Altex opens new store in Bucharest
Tuesday, December 1, 2009
Appliance and consumer-electronics retailer said it would open new store in Bucharest, in Grand Arena Mall, its sixth electronics megastore opened in 2009, after the units in Timisoara, Bucharest, Oradea, Satu-Mare and Cluj-Napoca. The new location has a retail space of 400sqm and will market around 4,000 electronic, appliances, tech, communications and multimedia products. The consumer electronics retailer recorded in the first nine months this year sales of €124 million, 50% less than €248 ...