Romanian media

Bechtel and Enka, EUR 800 mln revenues, EUR 60 mln profits for 42 km of highway - in Ziarul Financiar...

Telecom operator Vodafone has recently signed an agreement with local telecom dealer Fonomat, which used to be a dealer for competitor Orange until April this year and which will now become an exclusive Vodafone dealer. Fonomat, which runs 167 stores in Romania, will still run under its existing brand but will change the signage in its stores accordingly in the following period.

Fonomat's shareholder in private equity fund GED, which bought four GSM retail companies – Dasimpex, Plus GSM, GSM Land and Puls and re-united them under a new brand. Fonomat used to be the largest Orange dealer since April 2008.

The International Monetary Fund will evaluate Romania's economic performances as part of the ongoing stand-by agreement on its board meeting on June 28, according to the fund. The IMF board will decide whether Romania will get the fifth loan installment, pending on the implementation of the cost cutting measures the country has pledged to take. The state clerk salary and pensions cuts were among those measures. These cost cutting measures are expected to lead to a budget deficit of 6.8 percent of the GDP this year, higher than the previously agreed target of 5.9 percent.

Norwegian energy company Statkraft, which was looking for investment opportunities in Romania, has decided to pursue its investment plans elsewhere due to the unfavorable investment climate in Romania. Statkraft has chosen Albaine and Turkey for its up to EUR 1.3 billion investment projects, according to Mediafax quoting local company representatives.

Chinese tractor producer Hoyo has started to produce tractors in its factory in Rasnov, Brasov county in Romania. The first series of tractors will be finalized mid-July, at ccording to the company's executive director Denisa Vasilescu, quoted by Mediafax newswire. Production at the Hoyo factory was supposed to start in December last year, but was delayed due to issues in the production area.

Qatar Airways will launch four flights a week to and from Bucharest at the beginning of next year. The services will continue to Budapest, according to the airline. The launch is part of a wider European flights expansion for the Doha-based airline. Qatar Airways will also open new routes to Nice, via Milan, Brussels, as well as in Asia: in Thailand and in Veitnam.

MedLife, CMU and Medicover fighting for Euroclinic – in Ziarul Financiar

Unilever slips into the red – in Ziarul Financiar

Dan Diaconescu, officially accused of blackmail and threat – in Ziarul Financiar
Government preparing tax for banks – in Ziarul Financiar

Workers abroad send less money home, import demand on the rise – in Ziarul Financia

The Romanian state is cashing in just a third of the road taxes it should receive due to the lack of an efficient control system, according to the Transport Ministry. The annual road tax potential for the state would be of EUR 500 million, but the actual road tax payments cover only EUR 130 million. This is one of the reasons for which Romania has problems with repairing roads, according to Sorin Sirbu, head of the road transport direction with the Transport Ministry. The extra amounts would still not be enough to cover the required investments in Romania's road infrastructure without a proper budget.

The Romanian Anti-Corruption Body (DNA) has accused local media owner and journalist Dan Diaconescu of blackmailing and...

Local cab company Fly Taxi has recently asked for insolvency, according to Mediafax newswire. The company, owned by businessman Fernando Enciu, has lost its exclusive contract with Otopeni airport after the airport has organized a bid and has chosen several cab companies which are allowed to work in the Otopeni airport area. Fernando Enciu also runs a business in the Great Island of Braila (Insula Mare a Brailei) and owns a 7,000 sqm plot of land close to Herastrau lake.

Romanian media

Bechtel and Enka, EUR 800 mln revenues, EUR 60 mln profits for 42 km of highway - in Ziarul Financiar...

Telecom operator Vodafone has recently signed an agreement with local telecom dealer Fonomat, which used to be a dealer for competitor Orange until April this year and which will now become an exclusive Vodafone dealer. Fonomat, which runs 167 stores in Romania, will still run under its existing brand but will change the signage in its stores accordingly in the following period.

Fonomat's shareholder in private equity fund GED, which bought four GSM retail companies – Dasimpex, Plus GSM, GSM Land and Puls and re-united them under a new brand. Fonomat used to be the largest Orange dealer since April 2008.

The International Monetary Fund will evaluate Romania's economic performances as part of the ongoing stand-by agreement on its board meeting on June 28, according to the fund. The IMF board will decide whether Romania will get the fifth loan installment, pending on the implementation of the cost cutting measures the country has pledged to take. The state clerk salary and pensions cuts were among those measures. These cost cutting measures are expected to lead to a budget deficit of 6.8 percent of the GDP this year, higher than the previously agreed target of 5.9 percent.

Norwegian energy company Statkraft, which was looking for investment opportunities in Romania, has decided to pursue its investment plans elsewhere due to the unfavorable investment climate in Romania. Statkraft has chosen Albaine and Turkey for its up to EUR 1.3 billion investment projects, according to Mediafax quoting local company representatives.

Chinese tractor producer Hoyo has started to produce tractors in its factory in Rasnov, Brasov county in Romania. The first series of tractors will be finalized mid-July, at ccording to the company's executive director Denisa Vasilescu, quoted by Mediafax newswire. Production at the Hoyo factory was supposed to start in December last year, but was delayed due to issues in the production area.

Qatar Airways will launch four flights a week to and from Bucharest at the beginning of next year. The services will continue to Budapest, according to the airline. The launch is part of a wider European flights expansion for the Doha-based airline. Qatar Airways will also open new routes to Nice, via Milan, Brussels, as well as in Asia: in Thailand and in Veitnam.

MedLife, CMU and Medicover fighting for Euroclinic – in Ziarul Financiar

Unilever slips into the red – in Ziarul Financiar

Dan Diaconescu, officially accused of blackmail and threat – in Ziarul Financiar
Government preparing tax for banks – in Ziarul Financiar

Workers abroad send less money home, import demand on the rise – in Ziarul Financia

The Romanian state is cashing in just a third of the road taxes it should receive due to the lack of an efficient control system, according to the Transport Ministry. The annual road tax potential for the state would be of EUR 500 million, but the actual road tax payments cover only EUR 130 million. This is one of the reasons for which Romania has problems with repairing roads, according to Sorin Sirbu, head of the road transport direction with the Transport Ministry. The extra amounts would still not be enough to cover the required investments in Romania's road infrastructure without a proper budget.

The Romanian Anti-Corruption Body (DNA) has accused local media owner and journalist Dan Diaconescu of blackmailing and...

Local cab company Fly Taxi has recently asked for insolvency, according to Mediafax newswire. The company, owned by businessman Fernando Enciu, has lost its exclusive contract with Otopeni airport after the airport has organized a bid and has chosen several cab companies which are allowed to work in the Otopeni airport area. Fernando Enciu also runs a business in the Great Island of Braila (Insula Mare a Brailei) and owns a 7,000 sqm plot of land close to Herastrau lake.