One out of three companies in Romania will be exposed to insolvency risks if the government replaces the 16% flat tax on profit with a tax on turnover, showed a study by Iancu Guda, president of the Romanian Association of banking analysts.
British American Tobacco, the largest cigarette manufacturer in Romania, said it will invest EUR60 million in its facility in Ploiesti this year, triple the amount estimated at the end of last year.
Romania's proposed finance minister Ionut Misa said Thursday the government plans to introduce a differentiated tax on income for all companies, in three gradual stages, of 1%, 2% and 3%, respectively.
Canadian project developer Gabriel Resources is suing Romania for a record C$5.7 billion (the equivalent of 4.4 billion American dollars) before the World Bank’s International Center for Settlement of Investment Disputes (ICSID).
Romanians enjoyed national average download speeds of 26 Mbps for internet data and download speeds of 95 Mbps for fixed broadband internet data in 2016, which translates into an increase of 78%, according to ANCOM application used to test the quality of internet service, called Netograf.ro.
Romania's general consolidated budget posted a deficit of RON2.2 billion in January-May 2017, or 0.27%of the gross domestic product (GDP), after a surplus of 0.2% of GDP at the end of April, finance ministry data showed Tuesday.
Romanians believe 2016 was stable in terms of purchasing power: 46% of respondents, higher by five percentage points than in 2015, said their purchasing power remained the same as in the previous year, according to a pan-European survey by Cetelem.
Nokia on Tuesday said it will be expanding its campus in western city of Timisoara with the biggest research and development (R&D) center in the Romanian telecom industry and the total investment exceeds EUR73 million.
The Romanian leu depreciated further against the euro by midday Tuesday and the central bank set the leu’s reference rate versus the euro at 4,5957 units, the lowest level since July 2012, amid lingering political tension locally and an unfavourable context globally.
28% of Romanian employers plan to add to their payrolls in the July – September 2017 timeframe, according to the Q3 edition of the ManpowerGroup Employment Outlook Survey. q
Romania ranks first in terms of short-haul flights, with a cost of EUR2.79 per 100 km for low-cost services and places fifth worldwide (domestic and external flights), according to the survey 2017 Flight Price Index, carried out by web portal kiwi.com.
Romania ranks sixth in Europe, in a ranking of countries boasting the highest number of new jobs created through foreign direct investments (FDI) in 2016, according to the 2017 edition of the EY European attractiveness survey.
Romania ranks among the last in the European Union regarding inland freight transport, with less than 2,000 tons-kilometers per inhabitant, in 2015, according to data published on Friday by Eurostat, the statistical office of the European Union.
UniCredit Leasing Fleet Management provided operating lease services for two TransMontana electric locomotives manufactured by Softronic-Softrans Craiova, which will be operated for freight transport, in Romania, by Deutsche Bahn Cargo.
Romania's general consolidated budget posted a surplus of RON1.35 billion in January-April 2017, or 0.17% of the gross domestic product (GDP), finance ministry data showed Thursday.
German Group Bosch ended the 2016 fiscal year with a turnover of nearly RON1.5 billion (EUR332 million) in consolidated sales in Romania, seeing a significant increase of 22% compared with the previous year, according to company data.
Romania’s Competition Council has approved the transaction whereby electricity and natural gas supplier RWE Energie acquires the client portfolio of Fidelis Energy.
Regina Maria, the second largest player on the Romanian private medical services market, has 18 ongoing development projects for 2017, which target expansions, relocations and modernization of existing locations, as well as greenfield projects, Chief Executive Officer Fady Chreih said on Wednesday.
Risks related to the funding of small and medium-sized enterprises (SMEs) in Romania have decreased compared with the previous years, as the “market is cleaner” after the bulk of SMEs have vanished after the financial crisis, Radu Gratian Ghetea, president of state-owned lender CEC Bank.
Romania’s Competition Council is set to complete, in a few months’ time, an investigation targeting local insurance companies suspected of exchanging information in order to raise the price of the products they sell, antitrust regulator head Bogdan Chiritoiu said on Thursday.