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Astra Asigurari was declared bankrupt by the Financial Supervisory Authority (ASF) on Wednesday. "According to the conclusions of a report of KPMG, Astra’s special administrator, the three conditions that define insolvency law are…

A messy exit from the currency union could endanger the former-Communist countries bordering Greece and this includes also Romania. As doubts mount over Greece's future in the euro zone, Capital Economics said that the so-called frontier…

Romanian air carrier Tarom could end 2015 with losses of RON 8.236 million, according to the incomes and expenditures draft budget published Tuesday on Ministry of Transport website. Thus, according to the document, company's total revenues…

Turkish real estate developer Opus Land sold to an investor a package of 32 double studios in Cosmopolis residential complex, in Stefanesti area, near capital of Bucharest, Coldwell Banker Affiliates of Romania, the exclusive agent of…

The privatisation of Oltchim has failed again, as no investor showed intention by December 12, 2014, the time limit. It is for the fourth time this year that the privatisation fails. The previous term was June 6, 2014. No investor showed…

German investor Bosch aims to boost its local activities of research and development, by opening a new office in the center of Cluj-Napoca in early 2015. According to a press release, in the new R & D centre, Bosch will focus mainly on…

Oyak, the largest cement producer in Turkey, is interested in Holcim and Lafarge businesses in countries including Romania, Serbia and Hungary, Celal Caglar, head of the cement and automotive unit of the Ankara-based company, said in an…

26 October marks Austria’s National Day. Austria, the second largest investor in Romania. Over the past decades the bilateral relation between Austria and Romania evolved into a solid and close partnership with a particular focus on the…

Romanian Prime Minister Victor Ponta met on October 6, 2014, at the Victoria Palace, the Chairman of the Board of Management of E.ON Group, Johannes Teyssen, the government's press office informs. On this occasion, there were presented the…

The World Economic Forum (WEF) recently released its annual “Global Competitiveness Report,” which details the strengths and weakness of 144 countries in myriad factors including education, infrastructure, health and technology. Starting…