Business Review

Cigarette manufacturer Philip Morris Romania will modernize its production facility in Otopeni by installing a new energy efficient cooling plant worth EUR 1 million, the company has announced.

Simona Bazavan

Romania was ranked on the 2nd position in Europe, with 24.7 points, by the Global Entrepreneurship Monitor survey, carried out in 24 European countries, which measures the intentions of the citizens in those respective countries to start up a business on their own.

Otilia Haraga

Prime Minister Emil Boc announced today that Teodor Baconschi was dismissed from the position of minister of external affairs after making allegations regarding the protesters on his blog.

Italian electro appliances producer De’Longhi is currently in discussions with the Cluj authorities to take the place of Finnish company Nokia that announced last year the end of production at Jucu.

Otilia Haraga

Rating agency Moody’s has stated that the protests in Romania, that have been the most extensive and violent over the past 10 years, have a negative effect on the rating of the country because they make reform more difficult for the government.

Otilia Haraga

After acquiring local logistics company Omega Ro in October last year, Ekol Logistics, a Turkish integrated logistics firm, has announced that it will extend its block train services between Worms and Trieste, with the addition of services from Worms to Curtici Terminal in Arad, Western Romania.

Simona Bazavan

After investing over EUR 75 million in Romania in the past 14 years, Austrian bricks manufacturer Wienerberger has announced that it intends to build a new greenfield factory in Iasi, Eastern Romania. The project will require a EUR 22 million investment and currently the company is looking to obtain the necessary building permits, said Wienerberger representatives.

Simona Bazavan

Lidl takes its national network to 132 stores after opening two more supermarkets this Monday, in Craiova and Pascani.

Simona Bazavan

Hotels and pensions in Romania will be under the obligation to join into a tourism bookkeeping system that will offer at any point information on the tourists they accommodate, otherwise they risk paying a heavy fine, according to a government decision bill.

Otilia Haraga

Ursus Breweries, the local division of SABMiller and the biggest player on the Romanian beer market, has reported a 6 percent decrease in sales volumes in Q4 2011, y-o-y. The company reported the same decrease in Poland and Russia while overall its European sales went down by 2 percent.

Simona Bazavan