Archive » February 2008 » 12 February 2008 The english news from 12 February 2008
Nokia inaugurates its new Romanian-based factory producing Nokia 1200
Nokia, the world's leading mobile phone manufacturer, cut ribbon for the first mobile phone assembly line at its new plant in the town of Jucu, Western Romania, in the presence of Nokia's senior vice president, Juha Putkiranta, Nokia Romania's director John Guerry and local authorities…
Romania's Liberals want interim minister to fully takeover justice seat to end row with president
Romania's ruling Liberal Party (PNL) is to propose the current interim justice minister, also a defense minister, to take the helm of the justice portfolio, in a bid to end disputes with president who kept denying their initial proposal for the vacant position…
French real estate broker Atisreal breaks into the Romanian market after taking over Cornerstone
Atisreal, the real estate division of BNP Paribas, France's largest bank, purchased Cornerstone International, the successor of the company that owned the CB Richard Ellis license in Romania, and opened today an office to operate on the real estate market in Romania, a company release reads…
Romanian retailer Altex will spend around EUR 25m this year to expand store network
Electronics and domestic appliances retailer Altex will invest 20-25 million euros this year to carry out expansion plans, according to the company's executive general manager, Adrian Urda…
Rewe Romania's discount store network Penny Market posts 39.89% higher gross revenues y/y in 2007
The Penny Market discount store network operated by Rewe Romania, the unit of the German-based retailer Rewe, posted 39.89 percent higher revenues year-on-year in 2007 owing to the opening of twenty new units and the upgrading of the already existing ones, the retailer said…
Real estate developer Westhouse Group will release four residential projects in Romania this year
Real estate developer Westhouse Group will start developing four residential projects in Romania this year, which will provide some 4,500 dwellings. The four residential complexes should be ready in 2011-2012…
Romania's central bank hikes interest rates for mandatory minimum reserves in lei and U.S. dollars
The Central Bank of Romania (BNR) increased the interest rate granted to commercial banks for the mandatory minimum reserves from 2.50 percent to 2.60 percent for reserves in lei and from 1.2 percent to 1.3 percent for reserves in U.S. dollars, according to the bank's web page.…
Struggle for cheap financing in Romania could turn market towards structured products, Moody's says
The use of structured financial products on the Romanian, Bulgarian and Slovakian markets could advance in the coming period considering the limited access to cheap financing and the countries' significant growth potential, a report from Moody's show…
Industrial output in Romania hikes 5.4% in 2007 against the previous year
Industrial production rose 5.4% last year, versus the previous on strong output in the processing industry while the extractive industry, power, heat, gas and water slumped according to the country's Statistics Institute (INS)…
Revenues in Romania's trade industry rise 24.3% y/y in 2007
Revenues in commerce hiked 24.3 percent last year from the previous one, underpinned by sales of fuel and services, according to the National Statistics Institute (INS)…
Annual inflation in Romania hikes 7.26% in January y/y, hits 20-month record
Inflation in Romania rose 7.26 percent in January year-on-year owing to an increase of tariffs for services and on hiking food stuff prices, the country's statistics body INS shows…
Electronics producer BenQ Romania targets 35% boost in turnover this year, on higher sales
BenQ Romania, the local arm of Taiwan's biggest handset maker, aims to see 35 percent hike in revenues this year against the previous, according to the company's representatives…
Engine maker Electroputere trims losses down to EUR 13m in 2007 y/y after sell-off
Romanian electric engine producer Electroputere Craiova, recently purchased by Saudi company Al-Arrab, announced it reduced losses last year to 48.4 million lei (13.41 million euros), according to preliminary financial results…
Romania's airline Tarom acquires last two Airbus 318-111 from 2006 order, pays EUR 40m each
Romania's state-owned airline Tarom spent 80 million euros to purchase the last two Airbus 318-111 planes of the four ordered two years ago, in a bid to increase fleet and introduce more flights according to the demand, spokesman Madalin Tudor said…
The new Mazda5 Facelift released in Europe today put on sale in Romania starting February 15
Mazda, Japan's fourth-largest automaker, released today the new version of Mazda5 in Europe, which will be in stores in Romania starting February 15, according to a company release…
Fight to win over telecommunications market in Romania to get steeper this year, Deloitte foresees
The number of digital communications will increase significantly on the telecommunications market in Romania leading to a savage fight for clients and storing a series of surprises for this year, a study from Deloitte shows…
Romania lacks the enthusiasm experienced before joining the EU, Jonathan Scheele says
Romania's success is not guaranteed by its status of EU member and the country needs to exploit opportunities by making use of the enthusiasm experienced before joining the bloc, the former chief of the European Commission's delegation to Bucharest, Jonathan Scheele deems…