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BUSINESS

OMV sues the Romanian state for violating the privatisation contract

omv

The Austrian company OMV, majority shareholder of Petrom, has sued the Romanian state in March 2017 to the International Court of Commerce in Paris for violating the provisions of the privatisation contract regarding the recovery of environmental investments, the company’s ...

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Sergiu Manea, CEO BCR, the new CPBR president

sergiu-manea

The Council of Banking Employers in Romania (CPBR) appointed Sergiu Manea, the Chief Executive Officer of Banca Comerciala Romana (BCR) as the new President of its Board of Directors, replacing Steven van Groningen, President and CEO of Raiffeisen Bank, who ...

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Romanian Octavian Radu completed Postmaster and Total Post takeover

Octavian Radu

PeliFilip assisted Romanian businessman Octavian Radu in taking over Postmaster and Total Post, a press release informs. Following this transaction, which was completed on Wednesday, 19 April 2017, Octavian Radu gained control over Postmaster SRL, the former branch of Osterreischische ...

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Gas imports, up by almost 300 pc in January- February

gas imports

Romania imported in the first two months of 2017 an amount of usable natural gas of 481,100 tonnes of oil equivalent (toe), by 329.9 percent (369,200 toe) higher than the one imported in the same period of 2016, according to ...

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Real estate developers to complete 25,000 new homes nationwide this year

Real estate developers

Currently, the real estate developers are building more than 25,000 homes to be completed this year in the main cities of Romania, according to a Coldwell Banker Romania market report. Brokers estimate that prices will continue to grow this year ...

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Wood & Company: OMV Petrom is not well positioned to take advantage of market changes

Wood & Company

OMV Petrom is not well positioned so as to take advantage of the market changes, according to Wood & Company brokerage house report published on InvestingRomania. “We like Petrom’s leadership, its diversified low-risk business model and long-term prospects. However, in ...

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Eurostat: Romania had a budget deficit of 3pc of GDP in 2016

gdp

Four EU Member States, including Romania, had a government deficit (calculated on the basis of ESA methodology, the European accounts system) equal to or above 3% of GDP, according to a preliminary estimation published on Monday by Eurostat. Spain recorded ...

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Companies managing over USD 750 bn attended ‘Romania Investors Day’ in New York

Romania Investors Day

43 investors, representing over 30 global frontier and emerging markets funds, gathered recently at ‘Romania Investors Day’ yearly conference in New York City, Bucharest Stock Exchange (BVB) announced in a press release. Thus, the companies managing over USD 750 bn, ...

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Romania, 21st in global gasoline prices ranking

gasoline prices

Global gasoline prices are on the rise – about 1.4 percent, on average, in the last three months. Behind that modest increase is a wide range of price swings felt differently around the world. According to a Bloomberg  analysis, which ...

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