Oana Gavrila

Parliament Ratifies $8B Nuclear Power Romania-US Agreement

15:38, 24 Iun. 2021
Romania's parliament has ratified an $8 billion agreement between the governments of Romania and the United States for the refurbishment of one nuclear reactor and the building of two new reactors at the Cernavoda nuclear facility in southeast Romania.

Dacia Halts Production for 7 Days in April on Chip Shortage

11:09, 24 Mart. 2021
Romanian carmaker Dacia, owned by France's Renault Group, said Wednesday it would stop production for seven days in April due to the ongoing global chip shortage.

Bucharest Stock Market’s Main Index Hits All-Time High at 10,844 Points

19:03, 16 Mart. 2021
The Bucharest capital market, promoted to emerging market status in September last year by FTSE Russell, hit an all-time high on Tuesday as its main index, BET, broke the previous record of 10,813 points, untouched since July 24, 2007, and closed at 10,844 points.

Romania Freezes Public Sector Wages to Cut Budget Deficit to 7% in 2021

11:05, 12 Feb. 2021
Romania's 2021 state budget bill targets a budget gap of around RON80 billion, around 7% of the country's gross domestic product, down from a deficit of 9.8% in 2020, based on a GDP growth projection of 4.3%.

Romanian Prime Minister Ludovic Orban Steps Down After Parliamentary Elections

19:33, 07 Dec. 2020
Romanian prime minster Ludovic Orban said Monday he has decided to resign as head of government, ahead of negotiation for a new Cabinet after Sunday's parliamentary elections.

Romania Ranks 26 in the EU 28 by Performance in Digitization

18:53, 11 Iun. 2020
Romania ranks 26th out of 28 EU member states in the European Commission's 2020 Digital Economy and Society Index (DESI) released Thursday.

EC: Romania Fulfills None of the Criteria for Euro Adoption

16:47, 10 Iun. 2020
Romania meets none of the convergence criteria – price stability, sound public finances, exchange rate stability and convergence in long-term interest rates – required for euro adoption, the European Commission showed Wednesday in its 2020 Convergence Report.

Romania Unwilling to Access Conditional International Loans

14:31, 05 Mai 2020
Romania's finance ministry is looking at all financing options from international lenders – IMF, EBRD, World Bank – but will not access any loan with conditions attached, finance minister Florin Citu said Tuesday.

Romanian Finance Minister Expects Economy Will Recover Quickly in 2H/2020

14:27, 05 Mai 2020
Romanian finance minister Florin Citu said Tuesday the government was operating within a scenario that sees the country's economy heading for a V-shaped recovery, returning to growth starting the second half of this year.

Colliers: 70% of Employees Want to Keep Working from Home

12:14, 04 Mai 2020
Seven in ten employees in Romania want to continue working mostly from home even after Romania emerges from the state of emergency and relaxes restrictions, a survey by Colliers International showed Monday.

Dacia Gradually Resumes Production Starting Mid-April

12:21, 09 Apr. 2020
Romanian carmaker Automobile Dacia, owned by France's Renault, said it would gradually resume production starting mid-April, the company said Thursday.

Romania Average Net Salary Grows 0.4% on Month in February

09:22, 09 Apr. 2020
The average net salary in Romania grew 0.4% in nominal terms in February compared with January, to 3,202 lei (around EUR662), data from the country's statistics board showed Thursday.

Healthcare Workers Account for 25% of All Covid-19 Infections in Romania

11:53, 08 Apr. 2020
The Romanian healthcare workers' federation said Wednesday 25% of people in Romania infected with Covid-19 are healthcare workers and the infection rate among healthcare staff is 20 higher than in other mediums.

Tourism Federation Says Unemployment in Hotels and Restaurants Hits 60%

12:13, 07 Apr. 2020
The unemployment rate in hotels and restaurants in Romania has already reached 60% and will soon climb to 90%, the Romanian federation of tourism employers said Tuesday, adding the situation of over 50,000 employees on the Romanian sea-coast is dire.

Zentiva Completes Acquisition of Alvogen’s CEE Operations Including Romanian Labormed

12:01, 07 Apr. 2020
Zentiva Group, owned by Advent International, announced Tuesday it has completed the acquisition of Alvogen's Central and Eastern European (CEE) business.

Blue Air Needs EUR60M Rescue Loan to Survive Covid-19 Crisis

09:27, 07 Apr. 2020
Romanian airline Blue Air, which was forced to put 90% of employees on furlough, needs a rescue loan of EUR60 million to survive the Covid-19 crisis, said company CEO Oana Petrescu.

Pandemic Hits Romanian Dacia’s 1Q Sales in Europe

11:55, 06 Apr. 2020
Dacia registrations have been severely affected by the coronavirus pandemic and the Romanian carmaker's sales were among the hardest hit in Europe.

BestJobs: Romanians Mainly Sought Remote Jobs in March

11:36, 06 Apr. 2020
Romanians looking for jobs have changed their search criteria in March and sought mainly remote jobs and positions that would allow them to work form home amid traffic restrictions and other limitations due to the coronavirus pandemic, job platform BestJobs said in a statement Monday.

Ford Keeps European Production Facilities Closed at Least Until May 4

13:56, 03 Apr. 2020
Ford confirmed Friday that the temporary suspension of vehicle and engine production at most of its European manufacturing sites is now expected to run at least until May 4.

Coronavirus Crisis Depreciates Pension Fund Assets

16:15, 02 Apr. 2020
Assets managed by mandatory private pension funds in Romania have depreciated 6.7% on average in January-March due to market shocks caused by the coronavirus pandemic, the Romanian association for private pensions APAPR said in a statement Thursday.

Romanian Finance Minister Expects Quick Recovery After Coronavirus Crisis

15:08, 02 Apr. 2020
Romanian finance minister Florin Citu said Thursday he is optimistic and expects the country's economy to recover as quickly as it collapsed.

Colliers: Online Shopping Could Become More Widespread in the Future

13:17, 02 Apr. 2020
Romanians have gained more confidence in online shopping amid restrictions imposed to limit the spread of Covid-19 and this behavior could become habitual for a larger chunk of the population in the future, said Laurenţiu Duica, Partner & Head of Industrial Agency at Colliers International.

Central Bank Recommends Banks Should Not Distribute Dividends in 2020

12:56, 01 Apr. 2020
Romania's central bank recommends commercial banks operating in Romania not to distribute dividends this year from their 2019 earnings, central bank board member Cristian Popa said Wednesday.

Romania Amends Loan Repayment Decree to Eliminate Additional Interest

12:31, 31 Mart. 2020
Romania's government Monday evening amended a decree allowing borrowers to postpone their bank loan repayments for up to nine months, until the end of 2020, eliminating additional interest throughout the suspension of payments.

ING Sees Romania GDP Contracting 6.6% in 2020

14:56, 27 Mart. 2020
The reality of the Covid-19 crisis will bite severely into the real economy and Romania's GDP is seen contracting by 6.6% in 2020, with a second quarter to forget, followed by a less pronounced “V-shaped” recovery than previously expected, ING said in a report Friday.

Erste Group Sees Romania GDP Growth Contracting 4.7% in 2020

14:30, 27 Mart. 2020
Austria's Erste Group, which owns lender BCR in Romania, said in a research report it sees the country's GDP contracting by 4.7% in 2020 and the budget deficit is likely to widen to 7.3% of GDP.

Central Bank Postpones Collecting Bank Resolution Fund Contributions for Three Months

14:18, 27 Mart. 2020
Romania's central bank board held an emergency meeting Friday and analyzed a series of relevant measures from the perspective of bank resolution, amid the economic effects of Covid-19 pandemic and other decisions on the functioning of the banking system functioning.

Romanian Govt Adopts Decree Allowing Loan Repayment Delays Until Year-End

09:28, 27 Mart. 2020
Romania's government on Thursday adopted an emergency decree allowing individuals and companies to postpone their loan repayments for up to nine months but no later than the end of the year.

Colliers: Bucharest’s Service-Based Economy Relatively Shielded from Pandemic

15:08, 24 Mart. 2020
Bucharest is among the service hubs in Europe most shielded from the negative effects of the coronavirus pandemic and its office market is expected to be less affected or recover more quickly after the crisis, according to Colliers International.

Sphera Group Says Has Enough Liquidity to Recover after Crisis

10:22, 24 Mart. 2020
Sphera Franchise Group’s consolidated restaurant sales have dropped by approximately 33% on year during the March 1-22 period and by approximately 75% on year during the March 16-22 period, as a result of the gradual closing of its restaurants.

Banks Call for Amended Regulations to Postpone Loan Payments

16:26, 16 Mart. 2020
Commercial banks have asked the Romanian central bank to amend the regulation framework to allow postponing loan payments in various situation arising from the coronavirus crisis, such as isolation, travel restrictions or suspension of activity.

SMEs Call for Urgent Government Action to Navigate Covid-19 Crisis

13:03, 16 Mart. 2020
Around 98.6% small and medium-sized businesses in Romania say their activity will be deeply affected in the upcoming period by restrictions imposed in a bid to limit the spread of Covid-19 and call for urgent measures to stay afloat.

Romania’s Current Account Posts Surplus of EUR149M in January

12:48, 16 Mart. 2020
Romania's current account balance posted a surplus of EUR149 million in January, compared with a surplus of EUR322 million in January 2019, central bank data showed Monday.

Romania Net Average Salary Drops 4.5% on Month in January

09:23, 13 Mart. 2020
The average net salary in Romania fell 4.5% in nominal terms in January compared with December 2019, to 3,189 lei (around EUR662), data from the country's statistics board showed Friday.

Saudi Al-Arab Reaches 96.6% Ownership of Electroputere Craiova

16:29, 06 Mart. 2020
Romanian power transformers producer Electroputere Craiova (EPT.RO) is free to delist from the Bucharest Stock Exchange after its majority shareholder ended an offering to buy a minority stake.

Housing Prices Grow 1.6% in Romania in February

17:59, 04 Mart. 2020
Asking prices for housing in Romania grew 1.6% in February compared with January, with the biggest growth recorded in Cluj-Napoca, according to a housing market report by Imobiliare.ro.

EC Proposes Opening Excessive Deficit Procedure for Romania

15:20, 04 Mart. 2020
The European Commission has proposed to the Council to open an excessive deficit procedure for Romania and adopted a recommendation to the Council setting out the adjustment requirements, the Commission said in a statement Wednesday.

Romania Postpones 5G License Tender for Late 2020

12:39, 03 Mart. 2020
Romania's telecom regulator ANCOM has postponed until the end of 2020 a 5G license tender that had already been pushed back in 2019.

Gral Medical Posts EUR35M Turnover inn 2109, Targets Acquisitions in 2020

14:37, 02 Mart. 2020
Gral Medical, the sixth largest player on the Romanian private healthcare services market, owned by entrepreneur Robert Serban, posted a turnover of EUR35 million in 2019, up 13% on the year, and targets acquisitions in 2020.

Romania Forex Reserves Grow to EUR35.83B in February

14:10, 02 Mart. 2020
Romania's foreign exchange reserves grew to EUR35.83 billion at the end of February from EUR35.505 billion at the end of January, central bank data showed Monday.