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BUSINESS

Romanian timber exports dropped in 8 mo

timber exports

Romania exported timber and cork in the first eight months of 2017, amounting to EUR 394.4 million, down by 2.3 percent than in the same period last year, according to data centralized by the National Institute of Statistics (INS). At ...

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Romania spent only 1.1 pc of the EU funds for 2014-2020

EU funds

Romania spent only 1.1 percent of the EU funding granted for the 2014-2020 programming period, amounting to EUR 400.4 million, while Bulgaria and Poland had 7.5 percent and 6.5 percent respectively, according to the European Commission (EC) data. The bulk of ...

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Fitch rates Brasov’s stable outlook at BBB-

Brasov

Fitch Ratings has affirmed on Friday the Romanian city of Brasov’s long-term foreign and local currency issuer default ratings (IDRs) at BBB-, with stable outlook, and short-term foreign currency IDR at F3, a press release informs. The affirmation reflects Fitch’s unchanged ...

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Gov’t proposes prison for employers who don’t pay social contributions

social contributions

Employers who don’t pay social contributions in due time risk going to jail and staying behind bars from one to six years, reads a government emergency ordinance draft released by the Ministry of Finances. “Non-payment of taxes and contributions in ...

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A world crisis with impact on Romania is not excluded, BNR Governor says

isarescu manpower

In the context of the latest cyber-attacks waves, a world crisis with impact on Romania is not excluded, National Bank Governor Mugur Isarescu said on Friday during a conference on cyber security. “We should be aware that, in the context ...

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Romania posts historical records for grain output this year – 27 million tonnes

grain output

Romania registers nearly 27 million tonnes of cereals this year, exceeding 1.4 tonnes per capita, meaning nine historical records, Agriculture and Rural Development Minister Petre Daea said on Friday. According to him, the crops with high records are on wheat, ...

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RAFO Onesti refinery, put up for auction

RAFO-Onesti

RAFO Onesti, the third oil refinery by capacity in Romania, which returned to insolvency in the autumn of last year and has to pay off debts of over RON 330 million, will be put up for sale with an initial ...

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Over half of Romanian stores’ profits goes abroad, study shows

romanian companies

Large foreign retailers, active on the local market, generate more than half of the profits made by all consumer goods retailers. Paradoxically, although 99.6 percent of traders are Romanian companies, they fail to produce half of the profit of the ...

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INS: Net investments in the national economy increased by 3.6 pc at 9 mo

net-investments

During January – September 2017, the net investments in the national economy summed up to RON 50.09 billion, up by 3.6 percent year-on-year, National Institute of Statistics (INS) shows. The increase was registered by equipments (means of transportation included) by ...

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Romania loses EUR 403m annually and 27,613 jobs due to counterfeit trade

conterfeit contrafacute

The sales of counterfeit clothing, footwear and accessories in the European Union account for nearly 10% of total EU sales in this sector, reads a study by The Office for Harmonization in the Internal Market (OHIM), the European Intellectual Property ...

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