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By Theo Moreni

Approximately 2000 Romanian SMEs will benefit from the benefits obtained through new loans unlocked by the agreement signed by the European Investment Fund with Raiffeisen Bank. The amount of funds for small and medium-sized enterprises in Romania is € 177 million.

This agreement of the European Investment Strategic Fund (EFSI), the central pillar of the Juncker Plan, was signed on May 11, EFSI being a crucial

Category: | | 11 May 2017 |

By rbj

Romania's electricity supplier and distributor Electrica has filed a bid to take over the shares held by the CEZ company in Bulgaria, Romania's Energy Minister Toma Petcu told online publication DC News in an interview on Tuesday.

"Electrica has filed a bid to take over the shares CEZ holds in Bulgaria. It is about the company that provides electricity to Sofia and the environs; we have three million customers and quite a big portfolio there. Electrica has filed a bid to

Category: | | 09 May 2017 |

By rbj

According to the National Institute of Statistics (INS) data, in March 2017, seasonally adjusted unemployment rate was estimated at 5.3%

>>>Unemployment rate in March 2017 decreasead with 0.1 percentages points as compared to the previous month (5.4%) >>> Men’s unemployment rate was higher than that of women with 0.8 percentages points.

The number of unemployed (aged 15‐74 years) estimated for March 2017 was of 486 thousand persons, decreasing as

Category: | | 02 May 2017 |

By rbj

Romania had a national nuclear program set in the 7-th decade of the last century, when after specific studies performed by Romanian engineers, it was decided to build CANDU nuclear reactors (CANada Deuterium Uranium, Pressurized Heavy Water Reactor - PHWR, using natural Uranium as fuel).

The decision of Romania to embark on a nuclear power programme was based upon a commitment to use nuclear power for peaceful purposes, in a safe and secure manner.

This commitment requested the establishment of a sustainable national nuclear power infrastructure that provides governmental, legal, regulatory,

Category: | | 26 April 2017 |

By Edwig Ban

Renewable energy provided 42.29% of the national electricity production last year, according to the Romanian Energy Regulatory Authority (ANRE). The largest share of Romania's electricity production was of the hydraulic power, show an ANRE report on the electricity market in 2016. Thus, hydro energy accounted for 29.88% of the country's total electricity production, wind energy was 11.07%, photovoltaic energy - 1.18%, and 0.16% of the total biomass. Hydro energy was, in fact, the main source of electricity generation at national level, decommissioning coal, which provided 24.37% of the total. Nuclear sources accounted for 17.9%, gas contributed to

Category: | | 21 April 2017 |

By Edwig Ban

The consolidated general budget for January and February 2017 ended with a surplus of 397.1 million lei, representing 0.05% of GDP, the Finance Ministry announced.

Finance Minister, Viorel Stefan said that the budget revenues will increase on the support of income tax. The payroll is a huge increase, "over 22% in the first two months according of the increasing salary levels, on the one hand and, on the other hand, the increasing number of jobs," he said .

"We make this week's progress reports. We watched the last analysis, the final results for the first two months of the year. The good news is that the budget closed the surplus, it is true not spectacular, but very important, despite prophets announcing disaster. Now we look forward end of March,

Category: | | 28 March 2017 |

By rbj

The CFA (Chartered Financial Analysts) Romania indicator of macroeconomic increased in February compared to the previous months, to the value of 56.9 points (plus 2 points).

According to a release, the growth was mainly due to the correction of the current conditions indicator.

"Therefore, the current conditions indicator was 67.9 percent, increasing by 4.3 points, while the expectations indicator rose marginally by 0.8 points, up to the value of 51.3 points," the release mentions.

In respect to the exchange rate of Romania's national currency—Leu/Euro, 67 percent of the participants are expecting a depreciation of the leu currency in the next 12 months. Therefore, the median value of expectations in six months reached an expected exchange rate of 4.5500

Category: | | 25 March 2017 |

By rbj

The British from Vast Resources have advanced with the greening project started in Fâneața, Bihor County - Romania, where the tailing dams of the mine in Băița Plai are located, and the results are better than predicted. Bucharest, March 22nd: Vast Resources, the mining company listed on the London Stock Exchange, has announced that the last drilling activities from the tailing dams in Băița Plai covering 630 meters confirmed the presence of larger quantities of copper, zinc, lead and even silver than previously estimated. Therefore, compared to the first appraisement, the new figures show: • a 12% increase of the copper

Category: | | 21 March 2017 |

>>>70% of the Romanian CFOs expect their revenues will increase this year

By Emea Riga

After a 2016 that brought accelerating growth and falling unemployment rates, Romanian CFOs are looking with confidence for the year to come, according to the eight edition of Deloitte Romania CFO Survey 2017. Thus 70% of the Romanian CFOs expect their revenues will increase in the year ahead and almost half of the CFOs who took part in the Deloitte survey estimate a GDP growth of over 2.6%, which makes them among the most

Category: | | 20 March 2017 |

By rbj

European Commissioner for Regional Policy Corina Cretu on Wednesday said that in Romania the absorption rate for the funds allotted for the 2007-2013 period will exceed 90 percent and that invoices corresponding to this period are still received until the end of this month.

"I have made all possible efforts to increase the absorption rate. When I became a European commissioner, Romania had 60 percent absorption rate. Romania has no longer lost any euro on the period 2015-2016 from the allotments it had. I want to inform you that until 31 March we still receive invoices for the 2007-2013 programming period, after which the Commission has at its disposal five months to analyse them. Indeed, our estimations

Category: | | 15 March 2017 |

By rbj

Y-o-y inflation continued on a rising trend this February in Romania, with consumer prices up 0.2 percent from the same month in 2016, on a 1.43-percent increase in food prices, according to data released on Friday the National Institute of Statistics (INS).

"Compared with February 2016, consumer prices in February 2017 were up 0.2 percent. The weight of goods and services which prices went down from February 2016 is 24.4 percent, while the ones which prices went up by 0 to 2.5 percent made up 57 percent of the total. Goods and services which prices increased by more than

Category: | | 10 March 2017 |

By rbj

In each European Union member state male managers won in 2014 more than women in management positions, but the lowest pay gap was registered in Romania, show the data of the European Statistics Office (Eurostat) presented on Monday.

The Eurostat statistics, released before the International Women's Day, show that the lowest pay gap between men and women in management positions is registered in Romania (5pct), Slovenia (12.4pct), Belgium (13.6pct) and Bulgaria (15pct). On the opposite side, a female manager wins by about a third less than her male counterpart in Hungary (33.7pct), Italy (33.5pct), The Czech Republic (29.7pct), and almost a quarter less in Slovakia (28.3pct), Poland (27.7pct), Austria (26.9pct), Germany (26.8pct),

Category: | | 06 March 2017 |

By Edwig Ban

The general consolidated budget registered an surplus of 0.37 percent from GDP, to RON 3 billion in January, compared with January 2016, taking into account that revenyes went down by 5.7 percent and expenses went up by 3.5 percent, according to a release of the Public Finance Ministry.

According to the release, the revenues to the general consolidated budget amounted to RON 19.2 billion, representing 2.4 percent of the GDP, lower by 5.7 percent in nominal terms compared with the same period of 2016.

„Increases were recorded on the collection from the taxes on salaries and income (24.9 percent) compared with the previous year, the external trade tax and international transactions (10.1 percent), the capital incomes

Category: | | 28 February 2017 |

By rbj

The average salary increases budgeted in the private companies for 2017 are higher than those initially estimated, according to the data of the PwC study HR Barometer (which is an update of the information included in the yearly HR surveys undertook by PwC – PayWell and Saratoga).

Companies that took part in the HR Barometer study indicated an average salary increase of 4.5% for 2017, compared to 3.8% estimated in April 2016. The highest average salary increase was reported in the Retail&Distribution sector (5.6%), while the lowest was in the banking sector (2.5%). With the exception of the banking sector, the salary increases budgeted for 2017 by the private companies are higher than those initially

Category: | | 21 February 2017 |

By Edwig Ban

The company Black Sea Oil and Gas (BSOG) discovered in the Romanian Black Sea between 10 and 20 billion cubic meters of natural gas. The investments to start production in 2019 could reach 500 million dollars, told Mark Beacom, general manager. It is estimated that the project will produce about 10% of Romania's consumption for five years.

"The total investment of the consortium on this concession stands at about 200 million US dollars. It is difficult to estimate the total amount to be invested until the entry into production because it could include further

Category: | | 16 February 2017 |

The Romanian Business Journal
Constantin Radut
Editor in Chief
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