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BUSINESS

Moody’s upgrades deposit ratings of RBI subsidiary in Romania to Baa3

moody's

Moody’s Investors Service has upgraded on Thursday Romania’s Raiffeisen Bank long-term and short-term local and foreign-currency deposit ratings to Baa3/Prime-3 from Ba1/Not Prime, as a press release informs. The rating agency also changed the outlook on Raiffeisen Bank International (RBI) ...

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Gov’t credit increased three times faster than the one in private sector in the last 12 months

Gov't credit

During February 2016 – February 2017, non-government credit increased by 2.1 percent, while government credit advanced 7.4 percent (7.2 percent in real terms) versus the same year-ago period, National Bank of Romania (BNR) data reveal, a press release informs “At ...

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ANCOM head resigns

marinescu ancom

Catalin Marinescu on Friday resigned from the position of president of the National Authority for Management and Regulation in Communications (ANCOM), the authority that is managing the telecom market in Romania. According to sources for local media, Marinescu is to ...

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CFR Calatori and railway trade unions sign collective labour bargaining agreement extension

cfr

CFR Calatori (Passengers) management and railway trade union representatives have signed on Thursday, after negotiations, an agreement extending the collective bargaining agreement that will ensure the protection of employees, meaning the rights of current employment contract –  i.e. food vouchers, ...

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Austrian Constantia Flexibles shuts down its factory near Bucharest due to losses

constantia

Austria-headquartered Constantia Flexibles, manufacturer of flexible packaging products and labels, whose clients include Coca Cola, Pepsi, Sanofi, Danone, Nestle or Carlsberg, put the lock on its factory near Bucharest, where 90 employees are working. The shut down process is expected ...

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German automaker Daimler invests EUR 36 M in Cugir

daimler

Star Transmission, local division of famous German automaker Daimler, invested EUR 36 million in Cugir (Alba County) in a new manufacturing factory of planetary wheels for the 9G-Tronic nine-speed automatic transmission. The new facility covers 11,000 sq m and creates ...

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AmCham Romania has new board of Directors, run by Jaak Mikkel

amcham

The AmCham Annual General Meeting (AGM) on March 22 concluded the elections for the Board of Directors and Auditing Committee, new President, Vice-Presidents and Treasurers being appointed. According to a press release, Jaak Mikkel, General Manager of Coca-Cola HBC Romania ...

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Competition Council – investigation on the market of related services to natural gas distribution

concurenta credit europe

The Competition Council has initiated an investigation on the market of related services to the natural gas distribution operations. The inquiry concerns a possible anticompetitive agreement between SC Megaconstruct, Mega Conect and Instalaţii Montaj Tehnologic in order to set the ...

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eMAG opens its second showroom in Bucharest

eMAG showroom

Local largest online retailer eMAG opens the second showroom in Bucharest, located in 3rd District, within Titan Galeries, a press release informs. The new showroom is the first that eMAG opens this year and the expansion will continue across the ...

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Astoria Hotel in Eforie Nord, put up for sale

astoria hotel

Businessman George Copos, former backer of Rapid football team and released from prison on parole in 2015, wants to sell one of the two hotels he owns at the Romanian seaside, profit.ro informs. It’s about 3-star Astoria Hotel in Eforie ...

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