According to Business Review, Indian carmaker Tata Motors is currently negotiating with local authorities in Cluj its entry on the Romanian market via an investment in the Tetarom 3 industrial park in Jucu.
According to Business Review, IT company Endava posted a 60% growth of its business in Romania in 2011, up to a turnover of €9.2m, a quarter of the company’s sales being achieved locally. The company also raised by 33% the number of employees in Cluj-Napoca, Iasi and Bucharest. Endava has recruited other 50 people during [...]
Balkans.com, IFC is providing a €50m loan to leading food retailer Schwarz Group to help the company expand its Lidl chain of discount grocery stores across Romania, giving residents of smaller centers a cost-effective place to shop for quality food. The Schwarz Group will use IFC’s financing to enter new markets, particularly in cities with fewer [...]
AFP, The International Monetary Fund (IMF) and the European Union trimmed Romania’s 2012 growth forecast to 1.5%-2.0% due to international economic turbulence. ” For 2012 we have slightly revised down our forecast in light of the more difficult economic environment in the Euro area,” the IMF’s representative Jeffrey Franks declared. “We now project growth of [...]
Balkans.com, German automotive parts maker Bousch will invest €77m in a new plant in Romania, in an industrial park near Cluj. Bosch will employ about 300 people. Bosch’s decision to invest in Cluj will fill the gap left by the closure of Nokia plant last year. De’Longhi bought Nokia’s site and promised to invest [...]
Balkans.com, Real estate consultancy DTZ Echinox declared that Romanian real estate transactions could more than double to €550m this year after falling 13% to €263m in 2011.
Balkans.com, The economic and financial crisis continued to disrupt the Romanian car-making industry during 2011. Various sectors of the industry have seen different decrease rates as domestic market sales reported a nearly 8% drop compared to 2010, the output dropped by 4.5% and exports went down by 3.1%.
Balkans.com, According to representatives of the investment company Franklin Templeton Emerging Markets and Proprietatea Fund (FP), Romania`s economy could be the first to emerge from the European crisis with strong economic growth. Fitch upgraded Romania from BB+ to BBB-, whereas most EU member states were harshly downgraded. According to Franklin Templeton representatives, retail and major [...]
Balkans.com, US car part maker Johnson Controls opened a new production facility in Craiova, Southwestern Romania that would 160 new jobs. “The just-in-time (JIT) plant will supply Ford’s local assembly plant with complete seat systems for the new B-MAX minivan on a just-in-sequence basis,” Johnson Controls declared
Balkans.com, Prime Minister Emil Boc announced that starting a business in Romania will take no more than three days starting next week.
