>>>More than one million washing machines will be produced and more than 700 jobs will be created

By Jerom Bolt
BSH Hausgeräte GmbH, a Bosch industrial group company, is acquiring land at Simeria, Hunedoara County,Romania, to build a washing machine factory, according a press release of the company.The total investment value is about 110 million euros and it is estimated that as of 2022 more than one million washing machines will be produced
"BSH Hausgeräte GmbH continues to grow in Europe and will invest around 110 million euros in a new location in Romania in the coming years. The manu ... Read more »

| 12 November 2018 |

By Emea Riga
An International Monetary Fund (IMF) team led by Jaewoo Lee visited Bucharest on 6-12 November 2018 to discuss recent macroeconomic developments and policy developments.
"Economic activity in Romania remains strong, unemployment has historically low." Overheating concerns have continued to moderate, given the recent slowdown in activity, the inflationary pressures of this year seem to have already reached the highest level. has strengthened monetary policy and liquidity management, thus contributing to maintaining ... Read more »
| 12 November 2018 |

>>>The contractual period covers 15 years with a first gas delivery date on 1 February 2021 >>>The transmission capacity of 1 Bcm/year

By Edwig Ban
Transgaz S.A. (“Transgaz”) CEO, Mr. Ion Sterian, and Black Sea Oil & Gas SRL (“BSOG”) CEO, Mr. Mark Beacom, today signed the gas transmission contract for the transport of the Midia Gas Development Project (“MGD Project”) production into the National Transmission System (“NTS”), according to a press release received from BSOG.
The contract, which is subject to FID, is the outcome of th ... Read more »

| 09 November 2018 |

By Constantin Radut
We do not deny that the renewable energy has a future. It would be absurd, knowing that the fossil resources of the planet are being exhausted. All the estimates of international organizations show that hunger for energy requires investments in diverse renewable energy sources. But under the current technical and economic conditions, a policy of excessive promotion of renewable resources brings more disadvantages than advantages to the economy of a country.
This is the case for Romania. We remembered that under the impulse of overnight profits, the substantial investments were made in Romania. Investments in this secto ... Read more »
| 08 November 2018 |

BY Emea Riga
Romania's short-term objectives are to join the Organization for Economic Cooperation and Development (OECD), acquire the emerging market status and enter the Schengen area, measures that will ensure the rapid development of the Romanian economy, Minister of Public Finance Eugen Teodorovici said in a meeting with the International Monetary Fund (IMF) delegation headed by Jaewoo Lee, the chief of the mission for Romania and Bulgaria, informs a Ministry of Finance release for Agerpres.
On Wednesday's meeting, the main topics tackled were the prospects for economic development, the plans to modernize ... Read more »
| 08 November 2018 |

By Jerom Bolt
Airbus and IAR Ghimbav / Brasov, Romania signed on 6 November 2018 the final exclusive collaboration agreement for a period of 15 years. The principles of the document were established on the basis of an initial agreement of 24 August 2017, according to a company press release.
Under the Definitive Collaboration Agreement, the IAR is the lead contractor for the H215M helicopter for any future command from the Romanian Defense Ministry aimed at replacing the aging fleet.
The agreement reflects the joint commitment of Airbus and IAR to contribute to the modernization of the multi-helicopter ... Read more »
| 07 November 2018 |

By Constantin Radut
This year marks the 10th anniversary of the entry into force of the Law 220/2008 establishing the system for the promotion of the production of energy from renewable sources. Elaborated and approved under the pressure of strong lobbying of large companies, the law will result in a huge amount of investment for the installation of windmills. In just a few years, Romania has reached in the top of the European wind energy. Today, with an installed capacity of more than 4500 MW, the wind industry in Romania has two major effects: the disproportionate enrichment of investors and, secondly, the destruction of the Roman ... Read more »
| 31 October 2018 |

>>> Romania became the largest maize producer in Europe in 2018, ahead of France
Imagini pentru productia de porumb a romaniei
By Jerom Bolt
Romania has this year's best agricultural result in history. Record production of wheat and maize places agricultural turnover close to 8 billion euros, KeysFin experts say in an analysis of business developments in the sector.
The data from the Ministry of Agriculture shows that this year's wheat production is more than 200,000 tonnes higher than last year, ... Read more »
| 30 October 2018 |

>>> The holders of agreements in progress benefit from the level of royalty, the percentage of oil royalties existing at the date when the law enters into force

By Edwig Ban
The Romanian Parliament adopted today the Offshore Law on the conditions in which the Black Sea gas exploitation will take place. Investors are obliged to trade 50% of gas on the Romanian stock exchange and 25% of employees must be Romanian.
According to the law, 50% of the production of gas extracted from the Black Sea will be traded on the Romanian stock exchange. Investors have a 30% deduction from the extra income tax. The Roma ... Read more »

| 24 October 2018 |

By Edwig Ban
Romanians are now, for the first time, wealthier than any neighboring nations, including Hungarians, according to the Credit Suisse report 2018.
In 2018, the wealth per adult in Romania is estimated at USD 42,282, compared with USD 41,118 in Hungary, USD 30,224 in Bulgaria, USD 19,582 in Serbia, USD 5,204 in Ukraine and USD 3,837 in Moldova, Credit Suisse’s “Global Wealth 2018” report indicates. Romania has had a very fast growth over the last two decades, but started out from a very low base. In 2017, Romania's GDP was close to 7%, among the largest in the world and the ... Read more »

| 19 October 2018 |

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

+40 725 511 887 office.rbjournal@gmail.com www.rbj.ucoz.ro