08.27.2013

Investment management fund City of London, the second largest shareholder of Fondul Proprietatea (FP.RO), has reduced its stake in the fund to 4.87% from 9.43% in September 2012. more

08.01.2013

Play zone operator Play Again&The Jack invested EUR1.2 million in a family entertainment center located in Shopping City Ploiesti, which was developed by South-African investment fund New Europe more

07.21.2013

Thomas Cook Neckermann plans to promote Romania’s capital Bucharest in Germany, UK, France and other countries as a city break destination in summer, when hotels are cheaper than the rest of the more

06.07.2013

City Insurance has increased its share capital by 29.03 million lei (EUR6.37 million) to RON75.88 million, by including last year’s net profit, the insurer said Friday. more

05.28.2013

Developing business parks on the outskirts of cities no longer makes sense and they should be replaced with multifunctional projects, considering that the new generations of employees desire more more

04.25.2013

Two U.S. groups, Elliott Associates and City of London Investment Management Company, are among the largest investors in Romania after having spent EUR400 million on Fondul Proprietatea (FP.RO) more

03.27.2013

Romania’s government approved Wednesday the merger of heating distributor RADET and thermal power producer ELCEN, people close to the matter told Mediafax Wednesday. more

03.06.2013

Shopping center City Mall in Bucharest will be turned into an office building by the end of the year. more

03.01.2013

Romanian businessman Dan Odobescu has acquired an 85.2% stake in insurer City Insurance through his company Vivendi International SRL. more

01.30.2013

Dragos Petrescu, one of the most notable entrepreneurs in the restaurant business, who owns City Grill, Trattoria Buongiorno and Hanu Berarilor, will close the City Grills restaurants in Carrefour more

01.29.2013

Romanian local governments that register arrears at the end of January 2013 will be obliged to reduce them by at least 85% in two months, otherwise the state treasury will limit payments from their more

12.17.2012

Bucharest’s sector 6 city hall wants to contract a credit line of up to 240 million lei (EUR53.8 million) to finance building thermal rehabilitation projects, and the capital’s sector 4 mayoralty more

12.04.2012

Romania’s Government on Tuesday lowered the cap on annual reimbursable financing local authorities may contract between 2013 and 2015 to stay within the consolidated budget deficit target. more

11.29.2012

The Bucharest Council on Thursday approved a memorandum whereby thermal power producer ELCEN will be taken over by the City Hall. more

11.21.2012

Businessman Ovidiu Sandor, developer of City Business Center project in the western Romanian town of Timisoara, completed the fourth building of the business park, in a EUR10 million investment more

10.10.2012

The Romanian unit of Austrian bank Raiffeissen will transfer almost half of its employees in the Bucharest-based office building Floreasca City in the spring of 2013. more

08.30.2012

Romanian local authorities will have to reduce arrears monthly by at least 5% or they will no longer receive state budget funds, as per a draft emergency decree drawn up by the Finance Ministry. more

08.08.2012

Romania’s Finance Ministry will stop payments from income tax and VAT collections provided to local authorities, for the city halls which received money from the Government's reserve fund during the more

06.13.2012

Sorin Oprescu has been reelected Mayor of Bucharest, with 54.79% of the votes cast Sunday, while the runner-up, PDL deputy Silviu Prigoana, got 17.12% of the ballot, according to the final results of more

05.29.2012

Several shareholders led by UK’s City of London are showing support for Franklin Templeton because they fear the payment of the 531 million lei (EUR119 million) in dividends from last year’s more

05.03.2012

Romanian pharmacy chain Sensiblu, the retail division of pharmaceutical group A&D Pharma, will buy 90 City Pharma pharmacies owned by the Relad group. more

04.02.2012

Romanian Prime Minister Mihai Razvan Ungureanu and the country’s ruling coalition have reached an agreement on allotting extra money to local public authorities, so the funds will be used only to more

03.26.2012

Bucharest's general council has approved the city's budget more than a month and a half after the legal deadline, an extremely optimistic budget even for this election year, with revenues expected to more

03.06.2012

The Bucharest City Hall has to find solutions for drastic budget cuts of 1 billion lei (EUR230 million) this year, as revenues are dwindling and the institution has already run out of the cash more

02.22.2012

Bucharest shopping center City Mall, owned by businessman Ioannis Papalekas, could be turned into a hospital, according to representatives of real estate consultancy firm CBRE Romania. more