Headlines
29 June 2007
New Ford Mondeo: first promotions in Eastern Europe
The growth witnessed by the car markets in Eastern Europe has prompted Ford, one
of the top three car manufacturers in the world, to give priority to presenting
the new Ford Mondeo models in Eastern European countries, to the detriment of
markets with a bigger purchasing power, but with a higher level of saturation.
Gran Via builds 2,900 homes in Constanta
Spanish group Gran Via plans to build a 2,900-flat project in Constanta. The project
would be developed over three stages, with the first stage to entail the construction
of 900 homes, through a 50 million-euro investment, stated Alberto Mas Vil?, manager
of Gran Via for Romania.
Romania’s high rating could attract more funds
from EU
The sovereign rating of Romania Baa3 reconfirmed on June 1, which is the first
investment level, on Moody’s rating scale, could attract more funds from
foreign companies or from the European Union, the General Manager with Moody’s
for Central Europe, Petr Vins stated for Rompres.
27 June 2007
GE Real Estate and Helios Phoenix Euro 175M Development
GE Real Estate Central & Eastern Europe ('GE Real Estate') and Helios Phoenix
have announced the creation of a joint venture to undertake euro 175 million of
distribution warehouse developments throughout Romania.
Fierce competition over top managers on real estate
market
The current real estate boom has embroiled firms operating on the market into
a competition to recruit individuals for high-level management positions. At least
10 top managers have changed positions in the past six months.
Agip invests €7 mln in five new filling stations
in Romania
Romania, the domestic branch of the Italian petroleum group Eni SpA, will invest
approximately €7 million ($9.4 million) in opening five new filling stations
this year, stated the company's general manager, Nicola Meuli.
Romanian entrepreneurs poised for regional expansion
It is worth taking steps to expand Romanian business into regional states and
even into Europe, if the risks involved are carefully considered. This was the
conclusion of the seminar -"Economy's biggest players.
Spanish Detea and Lar: 1bn euros in real estate
and energy
Spanish groups Detea and Lar intend to invest 910 million euros within the next
two years in developing real estate projects, as well as projects in energy and
agriculture.
25 June 2007
Renault to invest EUR 100 M for engineering center
in Romania, until 2009
Renault Technologie Roumanie (RTR) will invest around EUR 100 M for the region
engineering center, until the end of year 2009, for the study bureaus in Bucharest,
the engineering plant, car coachwork, montage and mechanical activities, as well
as for the tests center.
A new K + K hotel worth EUR 20 M in University Square
The Austrian hotel group K+K Hotels, which owns Hotel Elisabeta in Piata Universitatii
(University Square), will invest EUR 20 M over the forthcoming period within a
four-start hotel, having an accommodation capacity ranging from 100 to 150 rooms,
according to ‘Ziarul Financiar.’
Continental Hotels to hire 1000 people by 2011
The Continental Hotels chain, which owns 13 hotels on the local market, registered
a level of 1,000 employees at the beginning of June, compared with 950 registered
at the beginning of the year, with numbers also estimated to double over the next
four years, according to the company's human resources manager.
Bucharest Stock Exchange reaches record highs
Indices on the Bucharest Stock Exchange reached all-time highs at the end of last
week, due to the high traded volumes for this time of the year, which in the past
has seen limited activity from investors.
22 June 2007
GTC invests €130 million in a 1,300 apartment
complex in Romania
Real estate developer Globe Trade Center Romania (GTC), with Israeli capital,
will build 1,300 apartments in a residential complex close to in the northern
Bucharest Baneasa Forest.The company will invest €130 million ($174 million)
in the new complex.
Discovery, ready to launch HDTV in Romania
Discovery Channel is prepared to launch its sixth TV channel in Romania, after
Discovery Channel, Discovery Science, Discovery Civilization, Discovery Travel
& Living, and Animal Planet. The new Discovery HD will have high-definition
broadcast.
IFC Romania's loan volume up by 30%
The International Finance Corporation (IFC), the World Bank's investment division,
has granted loans totaling $200 million this fiscal year (June 2006 - June 2007),
a 30 percent year-on-year increase, IFC officials told Business Standard.
20 June 2007
Romania takes over Human Rights Council presidency
Romania took over on Tuesday the presidency of UN Human Rights Council (HRC) for
a one-year term, the Foreign Ministry said in a press release. The HRC presidency
is the most important mandate Romania has held in the last 17 years within the
UN system.
Up and away with more easyJet routes
You'll soon be able to get to Austria and Romania from Luton, Luton Airport is
celebrating new routes announced by budget airline easyJet. The Luton-based low
fares airline is adding Austria and Romania as destinations this autumn.
Property in Bucharest
Bucharest, capital of Romania and fast-growing bohemian cultural centre, is more
affordable than Dubrovnik, but has few houses available for sale. Property here
mainly comes under the guise of apartments. Standard ones are cheap, but post-communist
money has created a new appetite for opulence. 'A luxury penthouse apartment will
cost you €500,000 (£340,916),' says George Shaw from Westhill Investments.
Vodafone Romania launches Vodafone Acasa
The new Vodafone product addresses to both individuals and to corporate customers
and is a novelty in the Romanian market. ‘The Vodafone Acasa services are
based on an innovative solution that enables us too offer an alternative to traditional
landline telephony’ stated Liliana Solomon, President and Chief Executive
Officer of Vodafone Romania.
18 June 2007
PPFI acquires share of Romanian hotel chain
Investment firm PPF investments (PPFI) has signed an agreement with Romanian company
the Red Group for the development of the Continental Hotels chain in Romania.
As part of the agreement, PPFI will purchase 28.14 percent of Conti Hotels Investment.
Real estate growth in Romania to last for at least
a decade
Edgar Rosenmayr, an investment officer with Immoeast, the most dynamic player
on the domestic real estate market, says the Austrian group is focusing on the
Bucharest market, on the office building segment, since the markets outside the
capital city do not provide desired yields at present.
British buyers are waking up to Romania
The country, which joined the EU in January with Bulgaria, came out top in a list
of the 20 best places to make money from property in a Channel 4 programme last
year. It is billed as a good bet because of the country's improving economy.
16 June 2007
EUR 500 M allotted to Romania for territorial development
Romania might absorb about EUR 60 M, the advance payment of 15 per cent of the
value of regional development projects. From 2007 to 2013 Romania will benefit
from nearly EUR 500 M for territorial co-operation programmes.
Bulgarian overseas property market is now over-exposed
Bulgaria might now occupy the third position in the Overseas Property league table
behind Spain and France, but it's the emerging markets of Latvia, Slovakia, Estonia
and Romania where foreign buyers should now be investing, a property company has
claimed.
Residential project in Bucharest has investment
value of 40 million Euros
Magnat Real Estate Opportunities GmbH & Co. KGaA has invested in another promising
project in Romania. Magnat, through a local project company 75% owned by Magnat,
purchased a site for residential development in the Vacaresti district of Bucharest.
Enel to acquire majority stake in Romanian distribution
company
Enel has said that it will pay €820 million ($1.33 billion) for a 67.5% stake
in Romanian electricity distribution company Electrica Muntenia Sud, after signing
a privatization deal with the Romanian firm's parent company, Electrica.
Beating the con tricks in real estate
Speculators who have exhausted the real estate boom of Poland, the Czech Republic
and Bulgaria are now buying and selling in Romania – but must watch out
for the same kind of con tricks.
14 June 2007
BMW office opens in Romania
BMW Group will open at the beginning of July its own office in Romania, managing
imports, marketing, PR and post-sale services. The current main BMW importer,
Automobile Bavaria, will remain dealer and the main partner of the BMW office.
Sibiu, a 100m-euro retail magnet
In the last six months, the city of Sibiu has attracted investments worth tens
of millions euros in retail, while at the end of 2004, the current European Capital
of Culture did not have even a single hypermarket. Among the first retail networks
to arrive in Sibiu are Real Hypermarket, Media Galaxy, bauMax and Kaufland.
Can Romania become Europe's India?
The representatives of some of the biggest players in the business process outsourcing
(BPO) industry have launched operations in Bucharest in the last three years,
turning Romania into a Southeast European leading light in this field.
Immoeast takes over two RED projects for 120 million
euros
Austrian investment fund Immoeast, the most active player on the domestic real
estate market continues its local expansion by involvement in two more real estate
projects in Baia Mare and Constanta, as a result of a total investment worth 120
million euros.
12 June 2007
Cadbury gets sweet on Romania
Cadbury Schweppes has bought a 93 per cent stake in Romanian sweets maker Kandia-Excelent,
from Kandia, a private equity investment holding company managed by Meinl Bank.
The move is part of a series of emerging-market acquisitions and reshuffles as
the company tries to improve profit margins, particularly in its confectionery
divisions.
Seat sold over 1,600 cars in Romania this year
The sales in Romania by the Spanish Seat brand, part of the German Volkswagen
group, rose by 28 per cent in the first five months this year to 1,676 units.
The best selling model was the small class Ibiza, with almost 685 cars, Mediafax
informs.
Immoeast bought Euromall Pitesti
Immoeast, the Austrian investments fund which owns over 110 properties in the
real estate area in Romania, has bought the commercial centre Euromall from Pitesti,
developed by the Euromall French network from a transaction of EURO 87 M, Mediafax
informs.
09 June 2007
North East UK firms invited to tap into overseas
water sector
North East firms are being invited to tap into a world of opportunities in the
water sector at a special event next week.UK Trade & Investment will be hosting
an International Water Clinic at NOF Energy offices, Washington on Friday, 22
June, from 9am to 12.30pm.
New EU members enjoying property boom
Buzesti Street used to be one of the shabbiest parts of Bucharest with crumbling,
Communist-era structures and one of the city's roughest markets. Now, gleaming
multistory buildings have turned the area into one of the capital's new business
centres — testimony to a property boom sweeping Romania
Wizz Air expands services between UK and Romania
Wizz Air, the east and central European budget airline company, has announced
the launch of a new route between the UK an Romania.
4:Property tempts advisers into LLPs with up to
7.5% commission
Property development company 4:Property announced last week it is offering commissions
of 5-7.5% to advisers who place money with its range of eight limited liability
partnerships (LLPs).
MOL targeting Romania's wealthy with new forecourt
concept
MOL Romania has begun a project to build restaurants at some of its busiest service
stations. Providing customers with restaurants equipped with internet access should
enable the MOL unit to gain an advantage over its competitors.
07 June 2007
Delta Air Lines launches Bucharest – New York
flights
Delta Air Lines launched yesterday the direct Bucharest – New York route,
with four flights a week. “The route will service not only the trade and
tourism interests of Romania and USA, but it will also offer convenient connections
to customers, to other destinations in the USA, Canada and Latin America.
Sales of imported cars continue to rise
Porsche Romania, the importer of the brands Porsche, Skoda, Volkswagen, Audi and
Seat, registered in May the biggest volume of deliveries, almost 5,000 units,
the growth in percentage amounting to 27 per cent over the same month of the past
year.
LSE interested to develop relations with Romanian
brokers
London Stock Exchange (LSE) intends to develop relations with Romanian brokers
in order to attract as many Romanian companies as possible, Jon Edwards, Senior
manager of the institution, with responsibilities for the Central and Eastern
Europe says yesterday in Bucharest.
Property investors abroad reminded of importance
of insurance
Investors purchasing property abroad should consider their choice of insurance
policy carefully, according to new claims from a financial services provider.
Bulgarian property market 'over-exposed'
Bulgaria might now occupy the third position in the Overseas Property league table
behind Spain and France, but it's the emerging markets of Latvia, Slovakia, Estonia
and Romania where foreign buyers should now be investing, a property company has
claimed.
04 June 2007
Local tourists to opt for the Romanian Black Sea
Foreign investments in hotels will increase the number of tourists by 15 pc during
this summer as against 2006, Ovidiu Silaghi, Minister of SMEs, Commerce, Tourism
and Liberal Professions said.
Halewood Romania sees 26% higher sales
Halewood Romania group, one of the leading wine producers on the local market,
has posted sales of over 2 million euros in the first three months of this year,
up 26% on the same time last year.
Romania expands mobile phone infrastructure
Property investors in Romania could have been handed a further boost with the
news that a major telecoms company has launched a new 3G broadband service that
promises to double transfer speeds.
The Right Move Abroad releases real estate market
property report
On 1 January 2007 Romania officially joined the EU as a result of acknowledged
structural reforms and progress undertaken in the last decade. Looking forward
to further achievements, the Romanian government presented its convergence report
with plans to enter ERM-II in 2012. To help integrate Romania further into the
EU there will be support from the planned EUR 31 billion structural and cohesion
fund.
01 June 2007
Over EUR 30 bn investments in energy sector until
2020
The total volume of the investments in energy in Romania will amount to EUR 30
bln until 2020, of which the state and the state companies will allot around 30
per cent, declared on Thursday the Minister of Economy and Finance, Varujan Vosganian,
at a seminar on energy themes.
First GE operation in Southeastern Europe in Romania
General Electric – “Most Respected Company in the World” for
7 years in a row by Fortune magazine - chooses Romania for its first manufacturing
operation in Southeastern Europe. The domain selected by GE for this operation
is high-tech: the manufacturing of aircraft engines components.
Romania modernises its highway infrastructure
Romania is trying to meet EU road infrastructure standards. Work is in progress
on three highways, and the country hopes to build over 1000km of new roads by
2012.
Romania emerges from the dark
Since Romania's January 2007 entry into the European Union (EU), the country has
experienced a wave of electronics investment that positions it to become Europe's
next success story.
Romania
news archive
July 2007
Betfair Taps Romania
for Offshoring
A property to
sink your teeth into
Report Predicts
Growth of 23.4% for Romanian Food & Drink Market
BASF: Romanian
market, the "rising star" of Europe
June 2007
New Ford Mondeo: first promotions in Eastern Europe
Gran Via builds
2,900 homes in Constanta
Romania’s
high rating could attract more funds from EU
GE Real Estate
and Helios Phoenix Create Euro 175M Development
Fierce competition
over top managers on real estate market
Agip invests €7
mln in five new filling stations in Romania
Romanian entrepreneurs
poised for regional expansion
Spanish Detea
and Lar: 1bn euros in real estate and energy
Renault to invest
EUR 100 M for engineering center in Romania, until 2009
A new K + K hotel
worth EUR 20 M in University Square
Continental Hotels
to hire 1000 people by 2011
Bucharest Stock
Exchange reaches record highs
GTC invests €130 million in a 1.300 apartment complex in Romania
Discovery ready
to launch HDTV in Romania
IFC Romania's
loan volume up by 30%
Romania takes
over Human Rights Council presidency
Up and away with
more easyJet routes
Property in Bucharest
Vodafone Romania
launches Vodafone Acasa
PPFI acquires
share of Romanian hotel chain
Real estate growth
in Romania to last for at least a decade
British buyers
are waking up to Romania
EUR 500 M allotted
to Romania for territorial development
Bulgarian overseas
property market is now over-exposed
Residential project
in Bucharest has investment value of 40 million Euros
Enel to acquire
majority stake in Romanian distribution company
Beating the con
tricks in real estate
BMW office opens
in Romania
Sibiu, a 100m-euro
retail magnet
Can Romania become
Europe's India?
Immoeast takes
over two RED projects for 120 million euros
Cadbury gets sweet
on Romania
Seat sold over
1,600 cars in Romania this year
Immoeast bought
Euromall Pitesti
North East UK
firms invited to tap into overseas water sector
Two new EU members
enjoying property boom
Wizz Air expands
services between UK and Romania
4:Property tempts
advisers into LLPs with up to 7.5% commission
MOL targeting
Romania's wealthy with new forecourt concept
Delta Air Lines
launches Bucharest – New York flights
Sales of imported
cars continue to rise
LSE interested
to develop relations with Romanian brokers
Property investors
abroad reminded of importance of insurance
Bulgarian property
market 'over-exposed'
Local tourists
opt for the Romanian Black Sea
Halewood Romania
sees 26% higher sales
Romania expands
mobile phone infrastructure
The Right Move
Abroad releases real estate market property report
Over EUR 30
bn investments in energy sector until 2020
First GE operation
in Southeastern Europe in Romania
Romania modernises
its highway infrastructure
Romania emerges
from the dark
May 2007
Romtelecom launches
first phase of ‘Customer comes first’ project
Investors undeterred
by Romanian politics
Teen arrested in
Romania facing custody in UK
Immoeast to build
EUR 97M shopping centre in Romania
More than EUR 1
bn for refineries modernisation
CEC privatisation
not earlier than 2009
CFR to let 114 railways
Hotels working on
strategic partnership with low-cost carriers
Romania 'hots up
for US holidaymakers'
Our policy is to
bring to Romania top-quality products
Romanian companies
continue expansion to Eastern Europe
Nokia mobiles made
in Cluj to be sold in Romania, Africa and Asia
Romania is facing
a realignment of its political forces
Jobless Romanians
to be given goats instead of welfare benefits
Romania offers 'dramatically
beneficial' prospects for property market
Romania decides
president's fate
Coffee Republic
enters Romanian market
Bulgaria
and Romania 'ready to attract more American tourists'
Starwood and Hyatt
hotel groups coming to Bucharest
Tourism contributed
over EUR 1 bln to budget in 2006
Gas prices from
domestic production to increase in 2009
Volvo trucks Romania
receives another large order
Romania offers properties
built to British standards
Dubai Chamber discuss
trade ties with Romania
First Dyneff petrol
station of Rompetrol in France
Marshal Turism invest
EUR 2.5 M into a four-start hotel in Bucharest
Bulgaria, Romania
start second Danube bridge construction
Lower prices luring
tourists to Eastern Europe
Petrom to acquire
two local Royal Dutch Shell companies
Cashing in on Romanian
real estate
Real estate market
– a business for the foreign investors
European Investment
Bank opens office in Bucharest
46 p.c. turnover
growth for Fujitsu Siemens Romania in 2006
New CEO of Porsche
Romania Financial Group
Flight markets to
Romania and Bulgaria demonstrate 'healthy growth'
EUR 20 M for the
upgrading of Baneasa airport
Immoeast, the most
active investment fund in Romania
EU Commissioner
in Bucharest by Romanian economy
Four EU countries
dissatisfied with EC attitude towards Romania
Sanofi-Aventis targets
15% turnover increase
Top ten travel agencies
generate 200m-euro business
Immoeast far ahead
in the top real estate investors
Number of foreign
tourists in Romania on the rise
Romania needs some
30 years to attain EU's average development level
North East firms
urged to focus on Romania
US troops presence
in Romania – approved by Parliament
European Film Festival
starts today at Romanian Peasant Museum
Convertibles see
20 times higher growth than market average
Car importers report
60 pc rise in Q1 sales
INS upwardly adjusts
data on exports and imports in January
Romania pays 5,000
USD monthly to lobby firm
SCA invests €10
million to expand cardboard plant
April 2007
EIB grants Romania
more than 4.9 billion euros
Decathlon to open
hypermarket in Romania
Fight for Credibility
Orange Romania customer
base – 8.2 million
Targoviste - Feature
Article
EUR 8 M programme to promote Romanian tourism
Volksbank estimates
gross profit of EUR 22.11 M in 2007
Microchip inaugurates
new design center in Romania
Michelin Romania
Truck, OTR Tyre Production up 23%
Construction of
TransEuropean Transport Network to cost 600 billion
First 43 kilometers
of Transylvania motorway completed by end-2008
Henri Coanda, Aurel
Vlaicu airport merger approved
Black Sea Defense
& Aerospace - Exhibition & Conference
Romania MPs vote
to suspend president
Five EU members
ask for tough monitoring of Romania
EBRD sign agreement
with E.ON Gaz Romania
Great Wall Motors
eyes foothold in Europe
When
a poor country imports even poorer workers
Austrians Invest
in Romania
Nokia confirms investment
in Cluj
Elimination of customs
duties triples BDG's business
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