Articolele autorului Andrei Cîrchelan
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Romanian Antitrust Body Probes OMV Petrom's Withdrawal Of Gasoline Product
Romanian antitrust authorities are investigating oil and gas group OMV Petrom (SNP.RO) for alleged breaches of competition regulations regarding the company's withdrawal of Eco Premium gasoline product from the market. citeşte tot
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Transelectrica SPO Most Likely Launched In Spring 2012 - Brokers
The public offer whereby the Romanian Economy Ministry wants to sell 15% in national power grid operator Transelectrica (TEL.RO) will most likely be launched in spring next year, one of the brokers running the sale said Monday. citeşte tot
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Romania's Renewable Energy Support Scheme Will Not Cause Bills To Skyrocket
The energy price increase caused by the Romanian support scheme for renewable energy is not a very large sum, it's "only a few lei extra," Monday said Mircea Cotosman, adviser on environmental issues within the Economy Ministry. citeşte tot
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Romanian Oltchim Sends 1,000 Employees Into Furlough
Romanian state-run chemical plant Oltchim on Monday announced it will sent some 1,000 employees into furlough, between November 15 and 30, continuing a cost cut program launched in August because of materials and working capital shortages. citeşte tot
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Romanian President Woos German Investors With “Large Privatization” Outlook
Romanian President Traian Basescu on Thursday said, after meeting German Chancellor Angela Merkel, that Romania will start a large privatization process, involving thermal power producers Turceni, Rovinari and Craiova, as well as railroad freight transporter CFR Marfa. citeşte tot
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Romania Has Confirmed Its Intention To Join Euro Area By 2015 - Merkel
German Chancellor Angela Merkel on Thursday said in a joint news conference with Romanian President Traian Basescu that Romania has confirmed its intention to join the euro area in 2015, adding she respects this intention and she knows the efforts required by the people during tough reforms. citeşte tot
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Romanian Petrom 9-Mo Profit Doubles On Year To RON2.9B
Romanian oil group OMV Petrom (SNP.RO) on Wednesday reported a net profit of 2.921 billion lei (EUR694.5 million) for the first nine months of the year, doubled on the year, while sales rose 23% to RON16.224 billion, according to unaudited financial results. citeşte tot
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Romanian Transelectrica Scrambles To Fund Power Grid Upgrade For Wind Farm Inclusion
Linking wind farms to the national power grid requires an investment of more than EUR500 million, and state-owned Transelectrica (TEL.RO), the grid’s operator, lacks the funds, which means some of the plants will run under restrictions until financing is made available. citeşte tot
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Romania Needs Privatization, Private Management To Foil “Wise Guys” - IMF
The government needs to hurry privatizations and the appointment of private management at state-owned companies, to decisively change the system where a privileged few enjoy undeserved profit, says Jeffrey Franks, head of the International Monetary Fund’s delegation to Romania. citeşte tot
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Bucharest New Apartment Prices May Continue To Drop – Report
The prices of new homes may continued to decrease in Bucharest, given the reduced sales seen this year and the probability for demand to remain low in the near future as well, according to a report by Jones Lang LaSalle. citeşte tot
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Romanian Govt OKs Drilling Deal With Moesia Oil And Gas
Romania's Government approved a new exploration, development and drilling agreement between local mineral resources manager ANRM and Irish Moesia Oil and Gas, for a block spanning over some 1,000 square kilometers. citeşte tot
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Romanians To Pay 25% Upfront For Mortgage Loans In Euro
Banks in Romania will require a down payment of at least 25% for mortgage loans in euro and 40% for mortgage loans in other currencies, if the client’s incomes is not expressed and indexed in the currency in question, according to new lending regulations developed by the central bank. citeşte tot
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Romania Might Boost Natural Gas Reserves From Black Sea Blocks
Romania’s secure natural gas reserves, estimated to cover consumption over the next 15 years, could be increased following drilling in the Black Sea, Thursday said Alexandru Patruti, president of the National Agency for Mineral Resources. citeşte tot
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Rosia Montana Gold Corporation Cuts Share Face Value To Cover Loss
Rosia Montana Gold Corporation (RMGC) on Wednesday said it will reduce its share capital by 252.7 million lei (EUR58.39 million), to RON359.8 million, from RON612.6 million, by diminishing the face value of shares, since it has not covered its losses from reserves. citeşte tot
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Romania To Privatize Oltchim By May 2012 – State Sec
Romanian state-owned chemical company Oltchim (OLT.RO) will be privatized by April-May 2012, Wednesday said Karoly Brobely, secretary of state within the Economy Ministry. citeşte tot
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Energy Prices Should Rise In Double-Digits For Industrial Consumers - Association
The price of gas and electricity for Romania’s industrial consumers should rise by two digits, since current levels are unsustainable, Tuesday said Frank Hajdinjak, president of utilities companies association ACUE, after a meeting with representatives of the International Monetary Fund. citeşte tot
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Romania Falls 7 Positions To 72 In WB’s Doing Business 2012 Report
Romania dropped seven positions in the World Bank’s annual report Doing Business ranking 72nd among 183, mainly because it now asks for a tax clearance certificate for a new company’s headquarters, before the company’s registration. citeşte tot
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Romanian Diesel Fuel Prices Grow Because Demand Is High - OMV Petrom
The increase in diesel fuel prices comes from increased demand for this product, as Romania produces less of this fuel than it consumes, Wednesday said Mariana Gheorghe, chief executive officer of oil company OMV Petrom (SNP.RO). citeşte tot
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Siveco May Float Stock In Romania Within Five Years
Computer solutions supplier Siveco Romania may float stock within the next five years on a Romanian market, either in Bucharest or in Sibiu, the company’s general manager Irina Socol said Tuesday. citeşte tot
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Romania Has Cheap Labor Force, But It Needs Innovation - IBM
Romania has several advantages, including low labor costs, which keep investors interested in the local market, Tuesday said Mihai Tudor, general manager of IBM South and East Europe, within the forum ZF Digital '11. citeşte tot
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Bitdefender Will Float Stock Within 2-3 Years, First It Needs Vision - GM
Computer protection software producer BitDefender will float stock within 2-3 years, but more importantly it needs to develop a product that turns it into a leader with a vision, according to Florin Talpes, president of the Softwin group, which owns the antivirus maker. citeşte tot
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EBRD Sees Romania’s Economic Growth At 1.1% In 2012
The European Bank for Reconstruction and Development, or EBRD, reduced the economic growth forecast for Romania, in 2012, by 2.7 percentage points, to 1.1%, because of high exposure to the Greek economy. citeşte tot
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Romanian Number Of Insolvencies Nears 14,000 In First 9 Months
A total 13,984 firms went insolvent in Romania within the first nine months of the year, 10% less than in the same interval of the previous year, according to data from the national trade registry ONRC. citeşte tot
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Bucharest Ranks 27 Among 36 European Business Destinations
Bucharest ranked 27 in a Cushman&Wakefield survey on the cost and availability of office space 36 European locations, up from last year's ranking, following improvements in the city infrastructure. citeşte tot
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Romania To Return VAT Worth A Total RON1.61B In October
Romanian tax authority ANAF on Monday said it will return value added taxes worth a total 1.61 billion lei (EUR373.9 million) in October, including RON363 million in compensations. citeşte tot
