Oana Gavrila

Romanian Central Bank Admits Intervention to Curb Currency Fall

18:34, 07 Feb. 2019
Romania's central bank intervened in the second half of January to curb the rapid depreciation of the Romanian leu to the euro, central bank governor Mugur Isarescu said Thursday.

C&W Echinox: Land Transactions in Bucharest Hit New Record in 2018

14:31, 07 Feb. 2019
Developers and real estate investors completed land acquisitions with a cumulative value of around EUR245 million last year in Bucharest, a new record for the past ten years, real estate consultancy firm Cushman & Wakefield Echinox.

EC Maintains Romania’s 2019 GDP Growth Projection at 3.8%

13:53, 07 Feb. 2019
The European Commission has maintained its 3.8% economic growth projection for Romania in 2019 in its winter economic forecast released Thursday, unchanged from its fall forecast.

Black Sea Oil & Gas Moves Forward With $400M Midia Gas Project

12:44, 07 Feb. 2019
Black Sea Oil & Gas , owned by by Carlyle International Energy Partners and EBRD, said Thursday it has decided to move forward with the Black Sea offshore Midia Gas Development project, a $400 million investment.

Romanian Central Bank Keeps Key Rate Unchanged at 2.5% a Year

12:42, 07 Feb. 2019
Romania's central bank on Thursday kept its benchmark interest rate on hold at 2.5% at its first monetary policy meeting this year, the bank said in a statement.

KMGI Posts $86M Net Profit in 2018, Plans to Start Building Petromidia Cogeneration Plant

13:48, 06 Feb. 2019
KazMunayGas International (KMGI) plans to start the implementation of projects for the construction of a cogeneration plant at the Petromidia refinery in 2019 and to expand its retail network of gas stations stations in Romania, its main market.

Alexandru Mitrache Promoted Head of Transactions – Land & Investment at C&W Echinox

17:40, 05 Feb. 2019
Cushman & Wakefield Echinox announced Tuesday it is strengthening its Capital Markets team by promoting Alexandru Mitrache as Head of Transactions - Land & Investment.

Agricola Group Posts 10% Turnover Growth in 2018, to RON737M

17:39, 05 Feb. 2019
Meat processor Agricola Group had a total turnover of approximately RON737 million in 2018, up 10% on the year, the company said Tuesday.

Fiscal Council Says Govt’s 5.5% GDP Growth Projection Is Surprising, Unwarranted

15:49, 05 Feb. 2019
Maintaining an economic growth projection of 5.5% in 2019 especially after the emergency decree 114/2018 introducing new taxes is surprising and unwarranted, Romania's Fiscal Council said in a statement Tuesday.

Fitch Ratings: Romania 2019 Budget Fails to Lift Fiscal Uncertainty

15:22, 05 Feb. 2019
Romania's draft 2019 budget targets a reduction in the budget deficit, but is based on optimistic assumptions and fails to clarify uncertainty over the new bank tax, Fitch Ratings said in a report Tuesday.

Amerocap Evaluating Investments in Port of Constanta

16:26, 04 Feb. 2019
Amerocap, a US-based investment firm, which supported Chimcomplex’s acquisition of Oltchim assets, is seeking expansion of its own private equity investment activity and evaluating investments in the Port of Constanta, it said in a statement.

Smithfield Buys Local Meat Business in Arad, Western Romania

16:25, 04 Feb. 2019
Smithfield, the largest pork producer in Romania and globally, has recently acquired local meat processor Maier Com in Arad, western Romania.

Romania Forex Reserves Drop to EUR31.922B in January

14:41, 01 Feb. 2019
Romania's foreign exchange reserves fell to EUR31.922 billion at the end of January from EUR33.065 billion at the end of 2018, central bank data showed Friday.

AmCham Warns of Speedy Decrease in Quality of Public Policy, Law-Making, Governance Romania

12:30, 01 Feb. 2019
The American chamber of commerce in Romania (AmCham Romania) on Friday warned of the accelerated decrease in the quality of public policy, law-making and governance in Romania.

Antitrust Body Fines Large Retailers, Suppliers EUR18.8M for Price Fixing

16:46, 31 Ian. 2019
Romania's antitrust body said Thursday it has fined retailers Auchan, Cora and Carrefour, as well as four of their suppliers, a total of RON87.7 million (EUR18.8 million) for price fixing.

Patria Bank Sells NPLs Totaling RON331.5M to Kruk Romania

15:33, 25 Ian. 2019
Lender Patria Bank has sold a batch of non-performing loans totaling RON331.5 million to debt collector Kruk Romania, the bank said in a statement Friday.

Romania Private Lending Grows 0.1% on Month in December 2018

12:16, 25 Ian. 2019
Romanian private lending grew a marginal 0.1% (declined 0.02% in real terms) in December 2018 compared with November, to RON251.05 billion, central bank data showed Friday.

Medlife Raises Stakes in SAMA Craiova and PDR Brasov

17:25, 21 Ian. 2019
MedLife, the leading private healthcare provider in Romania, on Monday announced its has bought an additional 35% in the SAMA group of companies in Craiova and 3% of PDR Brasov group, raising its stakes to 90% and 83%, respectively.

Romania Had Biggest Government Deficit in EU in 3Q/2018

17:12, 21 Ian. 2019
Romania had the biggest government deficit in the European Union in the third quarter of 2018, of 3.6% of gross domestic product, Eurostat data showed Monday.

New Bank Tax Prompts BCR to Revise All Investment Plans, CEO Says

13:17, 18 Ian. 2019
Romanian lender Banca Comerciala Romana (BCR), majority owned by Austrian Erste Group, is reconsidering all its investment plans due to the new tax on bank assets, CEO Sergiu Manea said at a banking conference on Friday.

Dacia Reports Best Sales in a Decade in 2018

11:10, 18 Ian. 2019
Romanian carmaker Dacia, owned by France's Renault, had its best sales in a decade in 2018 in Romania, with over 54,000 vehicles sold and a market share of over 30%, the company said Friday.

Deloitte Expects 100 M&A Deals in Romania in 2019

12:33, 16 Ian. 2019
The Romanian mergers and acquisitions market will total around 100 transactions in 2019, keeping a similar pace as during the period 2008-2018, Deloitte Romania said in a report Wednesday.

Romanian Tourism Association, 13 Agencies Fined EUR2.45M for Antitrust Practices

15:51, 14 Ian. 2019
Romania's antitrust authority has fined 13 tourism agencies and the country's national tourism association ANAT a total of EUR2.45 million for acting concertedly to keep vacation prices high.

Romania’s Fiscal Instability, Main Challenge for Businesses in 2019

17:28, 11 Ian. 2019
Fiscal instability is the main challenge for businesses this year, influencing investors' appetite for doing business in Romania, according to the KeysFin Business Focus 2019 barometer released Friday.

Poll: 2018 Was Hard for Recruiting – 29 Interviews to One Hire

18:04, 10 Ian. 2019
Nearly nine out of ten companies had a tougher time finding suitable employees in 2018 compared with previous years, interviewing an average 29 candidates before hiring one person, a poll by HappyRecruiter showed Thursday.

Romania’s Bank Tax Could Lower Interests on Deposits

20:37, 09 Ian. 2019
The so-called “greed tax” on bank assets will not necessarily affect lending so much as it might prompt the bank to cut costs by lowering interest rates on deposits, which are already below the inflation rate.

Pillar II Private Pension Funds Had Assets RON48.1B End-November

16:28, 07 Ian. 2019
Net assets of mandatory private pension funds in Romania (Pillar II) stood at RON48.1 billion at the end of November 29018, up 23% on the year, according to financial watchdog data.

Banca Transilvania Seeks to Buy Back 10 Million Shares in Jan for Maximum RON40M

11:16, 03 Ian. 2019
Romanian lender Banca Transilvania (TLV.RO) seeks to buy back 10 million of its own shares in the period January-2-25 for a maximum of RON40 million.

Foreign Investors Council: Hazardous Changes To Affect Economy Deeply

13:23, 20 Dec. 2018
The Foreign Investors Council (FIC), which consists of 123 member companies whose total investments in Romania amount to nearly EUR35 billion, warned Thursday the government's tax plans will affect the country's economy deeply, testing the patience of businesses and citizens.

Bucharest Stock Exchange Loses Whole Year’s Gains in Wednesday Session

13:23, 19 Dec. 2018
The main index of the Bucharest Stock Exchange lost 8.6% by midday Wednesday, in just two hours of trading, losing the entire year's growth on concerns over government plans to impose new taxes.

GfK: Nearly Half of Romanians Want to Get Loans in Next 6 Months

18:00, 10 Dec. 2018
Around 44% of Romanians intend to get a loan in the next six months and just 8% are completely certain they won't resort to this financing option, according to a poll by GfK, ordered by International Personal Finance which owns Provident Financial Romania.

Romania Durable Goods Market Grows 17% in Jan-Sept, to EUR2.2B

12:39, 28 Nov. 2018
The Romanian durable goods market grew 17% on the year in the first three quarters, to EUR2.2 billion, an analysis by GfK showed Wednesday.

Isarescu: Euro Area Not Cozy for Economies with Lagging Competitiveness

17:18, 27 Nov. 2018
The euro area is not a cozy place for economies with lagging competitiveness or rigid markets and euro adoption involves a permanent commitment, Romanian central bank governor Mugur Isarescu said in a speech at the Conference on Europe Economic Integration. 

Romanian Auto Market Heads for Fifth Year of Growth

16:43, 21 Nov. 2018
October 2018 was the best October in the past decade for the local auto market, with 18,274 vehicles sold, 19.5% more than in October 2017, data from the Automotive Manufacturers and Importers Association (APIA) showed Wednesday.

European Commission Urges Romania to Adjust Ballooning Public Deficit

16:41, 21 Nov. 2018
Romania's public deficit is seen reaching 3.3% of gross domestic product this year and the European Commission recommends an annual structural adjustment of at least 1% of GDP in 2019.

Finland’s Peikko Acquires Factory Premises Near Bucharest, Starts Production in 2019

14:38, 14 Nov. 2018
Finnish company Peikko Group Corporation, a leading global supplier of slim floor structures and connection technology for precast and cast-in-situ applications, has acquired large factory premises near Bucharest and plans to start manufacturing activities in the fist quarter of 2019.

IMF: Romania Should Reassess Public Sector Wage Growth and Changes to Pensions

17:19, 12 Nov. 2018
Romania should reassess increases in public wage and planned changes to pension benefits for their negative implications for fiscal sustainability and long-term growth, a mission of the International Monetary Fund concluded after a staff visit to Bucharest on November 6-12.

AmCham: Investments Not a Priority For Romanian Government in 2018

11:58, 06 Nov. 2018
Romania's budgetary execution in the first nine months of 2018 indicates that the implementation of the investment plan is not a priority this year either, AmCham Romania, an organization consisting of 430 companies, said in a report Tuesday.

Can Pack Romania Completes EUR50M Investment to Raise Output Capacity

17:11, 30 Oct. 2018
Can factory Can Pack Romania, the only facility on the local market manufacturing aluminum cans for beer and soda, has completed a EUR50 million investment to expand its production capacity to 1.5 billion cans annually from nearly 950 million cans at present.

KazMunayGas, Romanian Government Establish Kazakh-Romanian Energy Investment Fund

14:39, 26 Oct. 2018
KazMunayGas International (KMGI) and Romania's administration of state patricipations in the energy sector (SAPE), which is owned by the Ministry of Energy, on Friday signed the association agreement for the establishment of the Kazakh – Romanian Energy Investment Fund.