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By Jerom Bolt
National gas transmission company Transgaz signed the contracts and gave the commencement order for works worth about 335 million euro pertaining to the construction of the Romanian sector of the BRUA gas pipeline, and has received 13.8 million euro in pre-financing from the European Commission, shows mid-year data released by the company.
The largest contract, worth 126.9 million euro, is for pipelines and curved parts, and was signed on April 23, 2018 with the Turkish company Toscelik Spiral Boru Uretin Samayi; the works commencement order was given on May 12, 2018.
The order to start the construction of th ... Read more »
... more
Date: Yesterday |

By Edwig Ban
Prime Minister Viorica Dancila on Tuesday welcomed a delegation of the US Congress headed by Devin Nunes, chairman of the United States House Permanent Select Committee on Intelligence, underscoring the need for the economic dimension of the strategic partnership between the two countries to be furthered.
Dancila is quoted as hailing in a press statement released by the Romanian government constant support from the US Congress to the Strategic Partnership between Romania and the United States of America. At the same time, she reiterated the great importance Romania attaches to the same partnership.
She also underlined th ... Read more »
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Date: 14 August 2018 |

By Emea Riga
Direct foreign investments have gone up by 29.44 percent during the first six months of this year, in comparison with the similar period of 2017, to 2.194 billion Euro, according to the data of the Romanian National Bank (BNR), published on Monday.
'Direct investments of non-Romanian residents summed up 2.194 billion euro (in comparison with 1.695 billion euro, during the period of January-June 2017), of which capital participations (including reinvested estimate net profit) summed up 2.258 billion euro, an intragrup loans reg ... Read more »
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Date: 13 August 2018 |

In an interview granted to Agerpres (Romanian Press Agency), Joel Best, Director for Global Business Development Europe with Bell Helicopter, reveals the good collaboration between Bell Helicopter and the military and political authorities in Romania, as well as the prospect developing in Romania of the first production capacity for the latest Bell Helicopter aircraft. In Romania, the conditions for success exist and, in case the agreement with Bell will be accepted by the Romanian and US governments, our country will be the only place outside the United States where the AH-1Z and the UH ... Read more »
... more

Date: 03 August 2018 |

By Edwig Ban
The Danish group Rockwool, the world's largest mineral wool producer, announced the start of construction work at its first factory in Romania. The decision comes amid a growing demand for such products on the insulation market.
Rockwool bought a 30-acre land from the Alinso group in the Ploiesti West industrial park and wants to build a 50 million-euro plant on it, including the cost of land acquisition, buildings, equipment and training staff. The choice of location has taken into account the easy access to the area with the highest consumption in the country, ie Bucharest and the neighbo ... Read more »
... more
Date: 25 July 2018 |

Dutchmen from Damen Shipyards Group will take over operational control

By Edwig Ban
The transaction by which the Ministry of Economy takes over the majority stake of 51% at the DMHI Mangalia site was completed, according to a communiqué from the ministry.
Thus, the Ministry of Economy, through Naval yard 2 Mai Mangalia SA, becomes a majority shareholder with 51% of shares, while the Dutch partner, Damen Shipyards Group, will hold 49% and will take over the operational control.
"The Dutch experience and management will contribu ... Read more »
... more

Date: 23 July 2018 |

By Emea Riga
Romania's government debt was at 34.4% of GDP at the end of the first quarter of this year, down from 35% of GDP in the previous three months, according to data released Friday by the European Statistics Office.
Compared to the fourth quarter of last year, 12 EU member states recorded an increase in government debt in the first three months of 2018 as a ratio of GDP, while in 16 countries government debt dropped (including in Romania).
The lowest level of government debt as a ratio of GDP in the first quarter of 2018 was in ... Read more »
... more
Date: 20 July 2018 |

By Jerom Bolt
The National Prognosis Commission (CNP) revised downwards to 5.5% its projection for GDP growth this year, from 6.1% in April.
The economic forecast institution also revised upwards it year-end inflation estimate from 3.2% to 3.5%.
According to the 2018 - 2022 Outlook of the Major Macroeconomic Indicators, GDP growth figures for the next three years remained unchanged at 5.7% in 2019 and 2020, and 5% in 2021. Year-end inflation figures for the interval 2019 - 2020 didn't change either, as CNP expects the consumer price index to be 2.8% in 2019; 2.5% in 2020 and 2.3% at the end of 20 ... Read more »
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Date: 19 July 2018 |

By Edwig Ban
The Romanian Parliament adopted yesterday the Law on certain measures necessary for the implementation of oil operations by oil offshore oil perimeter holders (PL-x 33/2018).
According to the new law, operators in the field have to pay a fee and a charge on additional income, which is calculated according to the market price of natural gas; petroleum companies are obliged to trade on the Romanian market at least half of the gas extracted from the Black Sea.
Under Article 18, companies which have offshore oil perimeter offshore oil permits currently in force on the date of entry into force ... Read more »
... more
Date: 10 July 2018 |

By Jerom Bolt
The Fitch Ratings agency makes an exhaustive analysis of the Romanian economy and suggests that Romania's economic outlook is positive.
Fitch urges investors to trust the country's economy and believes that they will benefit from Romania's economic growth. We present below the Fitch Ratings release:
Fitch Ratings has affirmed Romania's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'. The Outlook is Stable.
Romania's investment-grade ratings are supported by moderate levels of public debt, and GDP per capita and governance indicators that are in line with 'BBB' ca ... Read more »
... more
Date: 08 July 2018 |

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The Romanian Business Journal
Constantin Radut
Editor in Chief
031726 Bucharest, Romania

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