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.

Johann Lurf is the new president of Volksbank Romania, after having recently received the ok from the Romanian Central Bank (BNR). BNR has also given green light for Udo Birkner, who will be the bank's vice president.
Johann Lurf was named president of Volksbank in March this year, replacing Gerald Schreiner. Lurf used to head Volksbank's subsidiary in the Czech Republic. Schreiner had been at the helm of Volksbank Romania since 2006, after being the bank's VP for three years.

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.

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

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.

Headlines in Romanian media on Monday, June 21st, 2010: Loan installments cost Romanians 5 billion euros a year– in Ziarul Financiar

Tampiza leaves Lukoil Romania after 8 years at the helm – in Ziarul Financiar

Finance Ministry announces 16% tax on interests and luncheon vouchers as of July 1 – in Ziarul Financiar

First official loss of a mall: 40 million euros – in Ziarul Financiar

P&G to produce its first Head & Shoulders shampoo “made in Urlati” in July – in Ziarul Financiar

Cocor expects 10,000 visitors a day – in Ziarul Financiar

Swiss energy company Repower has bought 80 percent of the local energy trader Elcomex from Romanian businessman Ion...

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.

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

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.

Johann Lurf is the new president of Volksbank Romania, after having recently received the ok from the Romanian Central Bank (BNR). BNR has also given green light for Udo Birkner, who will be the bank's vice president.
Johann Lurf was named president of Volksbank in March this year, replacing Gerald Schreiner. Lurf used to head Volksbank's subsidiary in the Czech Republic. Schreiner had been at the helm of Volksbank Romania since 2006, after being the bank's VP for three years.

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.

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

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.

Headlines in Romanian media on Monday, June 21st, 2010: Loan installments cost Romanians 5 billion euros a year– in Ziarul Financiar

Tampiza leaves Lukoil Romania after 8 years at the helm – in Ziarul Financiar

Finance Ministry announces 16% tax on interests and luncheon vouchers as of July 1 – in Ziarul Financiar

First official loss of a mall: 40 million euros – in Ziarul Financiar

P&G to produce its first Head & Shoulders shampoo “made in Urlati” in July – in Ziarul Financiar

Cocor expects 10,000 visitors a day – in Ziarul Financiar

Swiss energy company Repower has bought 80 percent of the local energy trader Elcomex from Romanian businessman Ion...

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.

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