20 feb 2015

The Romanian leu slightly lost ground versus the euro by midday Friday and the Romanian central bank set the leu’s reference rate versus the euro at 4.4498 units, down 0.14% from 4.4434 the previous more

19 feb 2015

Romania’s Finance Ministry on Thursday raised a planned 700 million lei (EUR157.7 million) in a reopening of its seven-year bond due April 2020, with the average yield falling to 2.53% a year, the more

19 feb 2015

The decrease of the value added tax on meat, fruits and vegetables stipulated in the country's new Tax Code draft will reduce tax evasion and the effects of the Russian embargo, while the prices of more

19 feb 2015

OMV Petrom (SNP.RO) expects its hydrocarbon output to go down 2-4% this year and will revise its investment portfolio to optimize costs and eliminate waste, said company CEO Mariana Gheorghe. more

19 feb 2015

Top executives in Romania are optimistic about the evolution of their companies’ financials this year, foreseeing sales and profit growth fueled, among others, by continued investments and increases more

19 feb 2015

OMV Petrom (SNP.RO), part of Austria's OMV, will lower its investment plans by 20%-35% this year, citing lower crude oil prices. more

19 feb 2015

Natural gas consumption in Romania declined 4% last year, on lower demand from fertilizers producers and a mild winter, while electricity consumption stagnated, according to OMV Petrom. more

19 feb 2015

Romania’s state-run natural gas producer Romgaz (SNG.RO) Thursday reported a 44% growth in its 2014 net profit to 1.43 billion lei (EUR322 million), fueled by higher delivered quantities and more

19 feb 2015

Romania’s largest company OMV Petrom (SNP.RO) turned to losses in the fourth quarter of 2014, due to the lower oil prices and the negative contribution of its power business. more

18 feb 2015

Rompetrol Rafinare (RRC.RO), Rompetrol Downstream, KazMunayGas Trading AG and KMG Rompetrol, units of oil group KMG International, plan to contract a $390 million loan from lenders BCR, UniCredit more

18 feb 2015

Italy’s utility Enel has temporarily suspended the sale of its Romanian assets, as it already managed to reduce its debts following the successful completion of several transactions included in the more

18 feb 2015

Romania’s Government plans to eliminate the 16% income tax on dividend payments to companies’ shareholders as of January 1, 2016, in a move to avoid double taxation which is expected to crack down more

18 feb 2015

British DYI retailer Kingfisher announced it is starting remodeling works on six more stores bought from Bricostore into Brico Dépôt stores. more

18 feb 2015

The Romanian leu lost ground versus the euro by midday Wednesday and the Romanian central bank set the leu’s reference rate versus the euro at 4.4503 units, down 0.05% from 4.448 the previous day, more

18 feb 2015

Romania's government plans to cut the flat tax rate to 14% as of January 2019, from the current 16%, according to the new Tax Code Draft. more

18 feb 2015

Micro-enterprises will have to pay a tax even if they don't have any employees and firms with one or more employees will pay 3% and 1% of their turnover, respectively, while firms with no employees more

18 feb 2015

Romania's government plans to lower the value added tax from 24% to 20% as of next year and to 9% on food items such as meat, fish, fruits and vegetables, according to the country's new Tax Code more

17 feb 2015

BRD Finance, the consumer loan unit of lender BRD-Groupe Societe Generale (BRD.RO), appointed Eric Dhoste as the new general manager of the company, replacing Antoine Gabizon, who took the helm of more

17 feb 2015

3Pillar Global, a U.S. IT services company operating on the Romanian market since 2009, will hire over 100 IT specialists this year in its development centers in Cluj - Napoca and Timisoara, which more

16 feb 2015

Romanian oil refining company Rompetrol Rafinare (RRC.RO) Monday reported a net loss of $58.44 million for 2014, compared with $95.6 million in the previous year. more

16 feb 2015

Romanian state-owned power grid operator Transelectrica (TEL.RO) reported an 85% higher net profit for 2014, following a significant rise in revenue, the company’s preliminary financial report more

16 feb 2015

Romanian power distributor Electrica (EL.RO) Monday reported a net profit of 280.5 million lei (EUR63.2 million) for 2014, seven times higher than in the previous year, due to an improvement of the more

16 feb 2015

Romania’s Finance Ministry on Monday raised a planned 700 million lei (EUR157.6 million) in the reopening of a three-year bond auction, while the yield fell to an all-time low for that maturity. more

16 feb 2015

The durable goods market in Romania grew 13.7% last year, to over EUR2 billion, driven by sales offers, especially Black Friday and winter holiday deals, according to market research company GfK. more

16 feb 2015

Romanian nuclear power producer Nuclearelectrica (SNN.RO) Monday reported a 67% drop in its net profit for the year 2014, following lower electricity sales and increased tax costs. more