ZF

Courtyard Hotel in Bucharest Targets 65% Occupancy in 2020

Tue, 18 Feb 2020 15:50:00 GMT

The Courtyard Bucharest Floreasca hotel, developed by Lithuanian Apex Alliance Group and opened in October 2019, targets an occupancy rate of 65% this year after 40% average occupancy in the three months it was open in 2019.

IHG Affiliates Times Hotel in Bucharest under Holiday Inn Brand

Tue, 18 Feb 2020 15:39:28 GMT

IHG (InterContinental Hotels Group) will bring back its Holiday Inn brand to Romania by incorporating the former Golden Tulip Times hotel in Bucharest.

Urbano Parks To Build EUR14M Logistic Park in Western Cluj Napoca

Tue, 18 Feb 2020 13:32:53 GMT

Urbano Parks, founded by three entrepreneurs in Cluj Napoca, plans to invest EUR14 million to build the Urbano Cluj Vest (UCV) logistical park in the western area of the city by the end of this year.

Tarom, Transgaz Face Antitrust Probe Over Alleged Bid-Rigging Conspiracy

Tue, 18 Feb 2020 13:12:00 GMT

Romania’s Competition Council is looking into allegations that state-run airline Tarom and natural gas transmission company Transgaz have participated in a bid-rigging scheme, Council president Bogdan Chiritoiu said Tuesday.

Outgoing Economy Minister: ExxonMobil Not Fully Determined To Sell Its 50% Stake In Neptun Deep Project

Tue, 18 Feb 2020 11:25:00 GMT

U.S. ExxonMobil is not fully determined to sell its 50% stake in the Neptun Deep natural gas offshore project, outgoing economy minister Virgil Popescu told Realitatea Plus Monday evening, adding Exxon is exploring the market to see whether it gets a pretty good offer to sell.

Black Sea Oil & Gas Expects First Extraction from Midia Block in 1Q/2021

Tue, 18 Feb 2020 11:19:46 GMT

Black Sea Oil & Gas, owned by Carlyle International Energy Partners and EBRD, expects its first gas extractions from the Midia offshore development in the first quarter of 2021, CEO Mark Beacom said Tuesday at the ZF Power Summit 2020 conference.

Orange Romania Launches Currency Exchange Services in Orange Money App

Tue, 18 Feb 2020 11:02:22 GMT

Telecom operator Orange Romania has added currency exchange services to its Orange Money app, allowing users to transfer money in 18 currencies at no extra charge.

Netopia Payments: Number Of Online Transactions Up Over 40% In 2019

Tue, 18 Feb 2020 10:20:00 GMT

The number of online transactions processed by Netopia Payments grew 41% in 2019, with over 2 million online transactions, by card or text messages, being registered monthly, with the bulk of transactions targeting holiday packages, event tickets, home&deco products, utility bills and shared mobility solutions.

Haier Romanian Factory Investment 50% Backed by State Aid

Tue, 18 Feb 2020 10:18:19 GMT

Around half the EUR53 million investment in the refrigerator factory Chinese giant Haier plans to built in Prahova county, Romania, will be covered from state aid that the Romanian government approved in December 2019.

Teraplast Group 2019 Turnover Up 21% YoY To RON972M

Tue, 18 Feb 2020 09:43:00 GMT

TeraPlast Group, Romanian producer of construction materials owned by businessman Dorel Goia, on Tuesday said its turnover grew 21% on the year to RON972.6 million in 2019, and its profit increased to RON41.8 million, from RON22 million in 2018.

ACAROM: Dacia Registrations In Europe Drop Over 31% YoY In January 2020

Tue, 18 Feb 2020 08:51:00 GMT

New registrations of Dacia cars in Europe decreased over 31% on the year in January 2020, amid a general decline in car registrations, the association of automotive manufacturers in Romania (ACAROM) showed Tuesday.

Haier Invests EUR50M in Refrigerator Production Unit in Romania

Mon, 17 Feb 2020 16:03:05 GMT

Chinese giant Haier, one of the world's largest white goods manufacturers, will be investing EUR50 million in a production unit in Prahova county, Romania.

Romania Raises RON760M Selling Jan 2028 Bonds at 3.79% Average Yield

Mon, 17 Feb 2020 14:53:58 GMT

Romania's finance ministry on Monday raised 760 million lei (EUR159 million), versus a RON500 million target, selling bonds maturing in January 2028 at an average yield of 3.79%, central bank data showed.

Interagro Announces EUR22M Investment in Zimnicea Terminal

Mon, 17 Feb 2020 14:49:12 GMT

Agribusiness group Interagro, owned by Ioan Niculae, is investing EUR22 million in partnership with US group Nitron in a mixed terminal for the import and export of fertilizers in the Danube port at Zimnicea.

Cocktail Holidays Sales Grow 40% in 2019, to EUR25M

Mon, 17 Feb 2020 14:33:23 GMT

Travel agency Cocktail Holidays, owned by the Goicea family, had sales of EUR25 million in 2019, up 40% on the year, and expects 45% growth in 2020.

C&W Echinox: Acquisitions In Romania By New Realty Investors Reach EUR1.5B In Last Five Years

Mon, 17 Feb 2020 12:56:00 GMT

Romania’s real estate market has attracted over 20 new foreign investors in the last five years and the most active investors made acquisitions worth nearly EUR1.5 billion, accounting for nearly a third of the overall transactions carried out since 2015, as per data from real estate consulting firm Cushman & Wakefield Echinox.

CBRE: Industrial Space Market In Romania’s West, North-West Regions Sees Accelerated Growth

Mon, 17 Feb 2020 12:24:58 GMT

The industrial space market in Romania’s West and North-West regions boasts an accelerated increase after the stock has doubled during the course of just four years, becoming the second largest market, after Bucharest, and is expected to exceed 700,000 square meters in 2020, according to data from real estate consulting firm CBRE.

Nuclearelectrica Considers Self-Funding Third Nuclear Unit

Mon, 17 Feb 2020 11:37:15 GMT

Romanian state-owned nuclear power producer Nuclearelectrica may build a third nuclear reactor at the power plant in Cernavoda on its own, relying on its cash flow and on bank loans, company administrator Teodor Chirica said Monday.

Christina Verchere: OMV Petrom Wants To Continue Neptun Deep Project

Mon, 17 Feb 2020 11:14:34 GMT

OMV Petrom wants to continue the Neptun Deep project in the Black Sea, but the company needs a friendlier fiscal-legislative framework, which entails changes to the Offshore Law to eliminate overtaxation, OMV Petrom CEO, Christina Verchere, said Monday at ZF Power Summit 2020.

Bucur SA Seeks To Build Residential Compound In Bucharest, In Partnership With Novum Business Invest

Mon, 17 Feb 2020 10:41:21 GMT

Bucharest-based company Bucur (BUCV.RO) has concluded a partnership with local real estate developer Novum Business Invest for a residential project that will be built on Bucharest’s Timisoara Boulevard.