Archive » December 2006 » 12 December 2006 The english news from 12 December 2006
Romania: North Real Estate to Invest €60 mln in a Mall in Suceava City
The British unit trust North Real Estate announced it is to invest approximately 60 million euros in developing a new retail trade park to cover more than 50,000 sq. m. in the north-eastern Romanian city of Suceava, on the land of an old furniture factory, ACT Media news agency reports.…
Romania-Turkey: Submarine Cable Link to Cost €1,5 mln
A feasibility study for the submarine cable link that will connect Turkey to Romania will cost 1,5 million euros and will be conducted by Transelectrica and a privately owned Turkish company, Transelectrica CEO Stelian Gal said, ACT Media news agency reports.…
Romania: Volksbank's Real Estate to Develop €400 mln Project
The real estate arm of Austrian group Volksbank, Premiumred Real Estate Development, is likely to develop investments in Romania worth between 300 and 400 million euros, over the following five years, ACT Media news agency reports.…
Romania: Trends on Bucharest's Residential Market
If in the last ten years housing units' offer was solely focused on the zones in Bucharest's north and years 2005 and 2006 brought back into residential developers' attention the city's downtown districts, in 2007 real estate developers would approach semi-central zones or even the city's outskirts, ACT Media news agency reports.…
Romania: Retail to Boost Aldis Turnover to Over €100 mln
Aldis Calarasi, one of the top three charcuterie producers on the local market, estimates turnover will rise by 20-25 percent in 2007, to over 100 million euros, daily Ziarul Financiar reports quoted by ACT Media news agency.…
Romania Leads European Consumption Growth
Romania is the first among European countries when it comes to the growth of consumer goods sales with a 29.7% growth rate in September this year compared to the same month in 2005, an Eurostat study shows, ACT Media news agency reports.…
Romania: Flash Consult to Develop 2 Projects Under Euromall Brand
The French group of investors Flash Consult announces its intention to develop another two new projects of shopping centres in the southern Romanian cities of Craiova and Ploiesti, under the Euromall brand, with the investments to reach approximately 140 million euros, ACT Media news agency reports.…
Romania: Sustained Growth of Shopping Malls in Province
The number of shopping centers to open in the province is growing fast.As compared to the past period, when the big projects had in view Bucharest, one may notice at present a growing appetite for shopping malls in the province, where some transactions of tens or even hundreds of millions of euros have already been made.…
Romania: Turnover of Retail Traders Advances 25,2% Jan-Oct'06
The business turnover of Romanian retail trade companies (except for retailers of motor vehicles and motorcycles) in the first 10 months of 2006 was 25.2 percent higher than in the similar period of the year before, show data with the National Statistics Institute, ACT Media news agency reports.…
Romania: Dacia Carmaker to Produce 40 Logan Vans Daily
Dacia carmaker will manufacture as of January 2007 at least 40 Logan vans daily, with the production due to reach 60 units daily in 2008, vice-president of the Dacia's Board Constantin Stroe said during the ceremony marking the ending of the production of Dacia pick-up, ACT Media news agency reports.…
Romania: Industrial Production Rises by 10.2% y/y in Oct.
In October, industrial production advanced by 10.2% y/y - one of the highest year on year monthly growth rhythms, after 16% in May and 10.7% in June.…
Romania: BT Insurance Sells 6mil Transilvania Bank Shares
The insurance company BT Insurance, member of Transilvania Bank Group, sold almost 6m Transilvania Bank (TLV) shares for €1.76m, according to a BSE report.…
Romania: EU Energy Reform Blocked
France and Germany have joined forces to block a radical shake-up of Europe’s energy market – a move that will prevent some of the region’s biggest power companies being broken up, Nine o' Clock reports.…
Romania: Romtelecom Could Change Tariffs w/out ANRC's Consent
Romtelecom will be able to adjust tariffs and deploy service suites or tariff-cutting schemes simply by notifying the National Communications Regulatory Authority (ANRC) without needing the prior consent of the agency, Nine o' Clock reports.…
Romania: PM Loses Lawsuit w/Former ANRC Former President
PM Calin Popescu Tariceanu has lost the appeal that the former head of the National Communications Regulatory Authority (ANRC), Ion Smeeianu filed with the High Court of Appeals and Justice, after he was dismissed from office through a decision taken by the PM, in March 2005, Nine o' clock reports.…
Romania: Banks' Profit Rate Lower than in 2005
The profit rates of Romanian banks improved in the first half of this year, compared to late 2005, yet they remain lower than those posted last year, reads the data published by the National Bank of Romania (BNR), Nine o' clock reports.…
Romania: Fitch Assigns Banca Romaneasca 'BBB+'
Fitch Ratings assigned ratings to Romania-based Banca Romaneasca ('BROM') at Issuer Default 'BBB+', Short-term 'F2', Support '2' and Individual 'D'. The Outlook on the IDR is Stable.…