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>>> The Ministry of Economy took over the majority stake in DMHI Mangalia Shipyard, one of the biggest in the country
By Theo Moreni
The Romanian Ministry of Economy announced that the negotiations between the Romanian state and the strategic investor interested in the DMHI Mangalia Shipyard were finalized on Wednesday evening, March 21st. In this way, the Ministry of Economy becomes the majority shareholder at 2 Mai S.A Mangalia Shipyard
As a result of the privatization process of the 1990s, Mangalia Naval Shipyard was owned by the 51% South Korean Daewoo Group since 1997, and 49% of the shares belonged to the Government of

Category: | | 22 March 2018 |

Imagini pentru hidroelectrica
By Jerom Bolt
Hidroelectrica's energy producer obtained a gross profit of 1.6 billion lei last year, the result being the best in the history of the company, said Bogdan Badea, general manager of the company.
"According to the unaudited results, we estimate a gross profit of 1.6 billion lei, the best so far in the history of the company. The result was due to the availability of hydro-units and cost control. The output was 14 TWh, compared to 14.5 TWh forecast. It was a year below the multi-yearly hydrological average, "Badea said.
Category: | | 08 March 2018 |

By Theo Moreni
The load of electric vehicles in Romania can be made from March 19 on the basis of a fixed subscription, plus the charge according to the power of the machine and the time it is connected to the power supply, according to the Renovatio e-charge data, the first network based on fast-load solutions for electric vehicles in Romania.
According to the cited source, electric car owners will have a charging system charging system, divided into three categories.
Category: | | 06 March 2018 |

By Jerom Bolt
Romania has requested support from the European Commission for measures to reduce the risk of decommitment of funds for its operational programme regional development (POR), according to a press statement released by the Ministry of European Funds on Friday. Until now, Romania has used only 11.5% of the European funds made available for the 2014-2020 budget exercise On a two-day to Brussels, Romania's Minister of European Funds Rovana Plumb on Friday met Commissioner for Budget Gunther Oettinger and European Commissioner for Regional Policy Corina Cretu.

Category: | | 03 March 2018 |

By Theo Moreni
Romania will support the budget of the Common Agricultural Policy (PAC) post 2020 and of the two pillars within PAC, but will say 'no' to direct payment cap, Minister for Agriculture and Rural Development (MADR) Petre Daea told.
'Romania sustains the maintenance of the PAC budget and says no to cap. We want to move towards convergence, to see what perspectives we create for young farmers. A young person today cannot be tomorrow's farmer

Category: | | 12 February 2018 |

By Andra Beltz
The European Commission expects Romania's economy to slow down to 4.5% in 2018 and 4% in 2019, states the EC's Winter 2018 Economic Forecast released this Wednesday.
''Economic growth in Romania accelerated in 2017, with real GDP estimated to have grown by 6.7 % (y-o-y) - a post-crisis high. The main driver of growth was private consumption, supported by indirect tax cuts and wage hikes both in the public and the private sectors. After contracting in 2016, total investment started to grow again in 2017. Its pace of recovery, however, remained subdued as public investment fell sharply for the second consecutive year. The boom in private consumption has led to an increase in imports. As a consequence, net exports have acted as a drag on real GDP growth, despite

Category: | | 07 February 2018 |

By Edwig Ban
The bill regarding the setting up of the Sovereign Development and Investment Fund could be adopted by the Parliament in May-June, according to Deputy PM Viorel Stefan, as he told on Monday to a press conference organized by the Bucharest Stock Exchange (BVB), in marking a decade since the listing of Transgaz on the main BVB market.

Category: | | 05 February 2018 |

By Andra Beltz

Seasonally adjusted unemployment rate dropped to 4.6 percent in December last year, by 0.1 percent lower as compared to the previous month, according to data released on Wednesday by the National Institute of Statistics (INS).
Unemployment rate for men was by 1.8 percentage points higher than for women.
The number of unemployed (aged 15-74) estimated for December 2017 stood at 435,000 people, down as compared both to the previous month (443,000) and to the same month of the previous year (493,000).

Category: | | 31 January 2018 |

Garanti Bank granted the Romanian company a RON 14 million loan
By Edwig Ban
Garanti Bank, one of the most dynamic banks on the local market, granted a RON 14 million loan to Softronic, the only manufacturer of Electric Multiple Unit trains and electric locomotives in Southeastern Europe, for the production of Hyperion 3, the most modern means of rail transportation in Romania. The new train will be launched in the second half of 2018.
Hyperion is the first electrical multiple unit train in Romania and is recommended for Regio, Interregio or Intercity transport. Hyperion 3 will be


Category: | | 25 January 2018 |

By Theo Moreni
Romania will participate via the Ministry of Agriculture and Rural Development (MADR) in the 83rd edition of the International Green Week Berlin running between January 19 - 28.
According to the source, in Romania's exhibiting area, visitors will be able to treat themselves to Romania-specific Protected Geographical Indication foods, such as Topoloveni plum jam (Arges County), Sibiu salami from the six members of the Association of Sibiu Salami Producers (based in the

Category: | | 19 January 2018 |

By Andra Beltz
The representatives of Wielpütz Automotive from Germany signed the lease of 3 hectares of land on Wednesday in High-Tech Industry Park Craiova. The German company will start a greenfield investment to build a 10 million-euro plant, which is set to begin production on September 1 this year.
Wielpütz Automotive's manager Volker Schlegel said on this occasion that the company's representatives have been looking for a new production site for a long time for the first investment abroad because they can no longer expand in Germany. Wielpütz Automotive has a tradition of over 100

Category: | | 17 January 2018 |

By Edwig Ban
The Competition Council announced on Wednesday that it has authorized the operation by which the National Company Romarm SA - Moreni Automechanical Works Company (UAM) and Rheinmetall Landsysteme GmbH set up the company Romanian Military Vehicle Systems SA.
Each shareholder is to hold 50% of the newly created company's share capital, the objective of which is to develop, manufacture and equip the Romanian army with the 8x8 "Agilis" Armored Carrier.

Category: | | 17 January 2018 |

By Andra Beltz
New orders in the manufacturing industry increased by 17.4 percent in nominal terms in November 2107, compared to the same month of 2016, according to the data published on Friday by the National Institute of Statistics (INS).
The highest growths were recorded in capital goods (+20.1 percent), durable goods (17.6 percent), intermediary goods (+15.6 percent) and consumer goods (+8.0 percent).
Compared to October 2017, new orders in the manufacturing industry dropped by 3.5 percent, as a result of declines recorded in durable goods (-

Category: | | 12 January 2018 |

By Edwig Ban
Seasonally adjusted unemployment rate accounted for 4.7 per cent in November 2017, showing a 0.2 percentage points decrease compared with the previous month, according to data released on Tuesday by the National Institute of Statistics (INS).
As many as 443,000 unemployed people (aged 15-74) were estimated for November 2017, which showed a downward trend from the previous months (451,000 people), and also from the same month of the previous year (492,000 people).
Moreover the unemployment rate for men exceeded the unemployment

Category: | | 09 January 2018 |

By Emea Riga
The deficit of Romania's trade balance (FOB / CIF) reached 11.344 billion euros in the first 11 months of 2017, up by 2.569 billion euros compared to the similar period of 2016, according to the National Institute of Statistics (INS) , published Tuesday.
In the period 1.I-30.XI 2017, the exports and imports increased by 9.5% and by 12.3%, respectively, compared to the period 1.I-30.XI 2016.
 In the period 1.I-30.XI 2017, the FOB exports amounted to 58146.8 million euro and the CIF imports amounted to 69491.2 million euro.

Category: | | 09 January 2018 |

The Romanian Business Journal
Constantin Radut
Editor in Chief
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