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By Edwig Ban
The Economy Minister Niculae Bădălău said on Monday at the Automobile Industry Forum 2019 in Craiova that at the national level, the contribution of the automotive sector to the economy represented about 14% of GDP in 2018 and provided 27% of exports, but the Romanian industry has not been shunned by the troubles the entire European sector has undergone.
"At the national level, the car sector's contribution to the economy is major, accounting for about 14% of GDP in 2018 and providing 27% of exports. The automotive industry is not only a driver of growth and exports but also a good and stable source of earnings for almost a quarter of a million Romanians working in the automotive industry. We are not just talking about the two big colossal cars that produce in Romania, Dacia and Ford, but about 600 companies involved ... Read more »
Date: |2019-03-18|

By Andra Beltz
Romanian Prime Minister Viorica Dăncilă congratulated the ELI-NP researchers team for their success in implementing one of the most important research projects in the field of nuclear physics. For the first time in the world, the High Power Laser (HPLS) project of the Light Infrastructure - Nuclear Physics Center marked by the power of 10 PetaWatts (PW), "the world's biggest power," last week.
According to a press release, the Government has shown that it has supported the realization of this complex project, the Extreme Light Infrastructure (ELI) infrastructure, one of the most important European research facilities, not only because it represents a significant scientific evolution in the world but also because it is built with financial resources allocated through the Eu ... Read more »
Date: |2019-03-12|

By Edwig Ban
Raytheon has issued an order for parts and subassemblies for the Patriot Air Defense System to Aerostar Bacau / Romania, the company said in a statement. Romania acquired the Patriot missile system for about $ 3.9 million following a government deal with the US government. Romania will receive seven batteries in the 3+ configuration, packed with over 200 interceptors.
Raytheon's order to Aerostar Bacau allows the Romanian company to become one of Raytheon's global suppliers and to export the products of any of the 15 member nations of the Patriot Partnership.
"Aerostar is part of Raytheon's global supply network, with the ability to export to the other 15 Patriot Partnership nations that together hold more than 220 Patriot units," Raytheon reports in a ... Read more »
Date: |2019-03-05|

By Edwig Ban
Romania was last year on the eighth place in EU production of cars, surpassing Poland and Hungary, according to a report by The European Automobile Manufacturers' Association (ACEA).
The eighth place in the top European builders was predictable, as The Romanian Businress Journal showed in a previous article. This is because Ford Craiova has grown three times over 2017, and Dacia Renault had a 7% higher production.
In 2018, almost 477,000 cars were assembled in the two car plants in Romania, up 31% from 2017. This is the largest increase in local production over the last ten years.
Gabriel Sicoe, President of the Association of Automobile Manufacturers in Romania (ACAROM), says that the dynamics of the car industry in the Central and Eastern European countries will be rising in the ... Read more »
Date: |2019-03-05|

By Jerom Bolt
Standard & Poor's (S & P) confirmed ratings for the long-term and short-term debt in local currency and currency of Romania to "BBB minus / A-3", the associated perspective being announced in two weeks, the agency said in a statement .
Romania's ratings continue to be supported by the moderate level of its external and public private debt and strong growth prospects. In S & P's view, Romania's institutional effectiveness remains weak, however, which constrains ratings.
Although Romania continues to benefit from strong fiscal and external reserves, the agency believes that the significant deepening of fiscal and external deficits could in time affect these buffers, and Romania's economy would become more vulnerable to slowing growth.
"Romania has called for a call to the S & P Glob ... Read more »
Date: |2019-03-02|

>>> There is an urgent need for the pumped-storage hydroelectric power station and the two Cernavoda nuclear groups

By Constantin Radut
This year's winter demonstrates how damaging was the unrestricted encouragement of investors in renewable energy and the neglect of other energy sectors.
From the pockets of consumers, through green certificates, in the wind power and photovoltaic power were built over 5,000 MW of installed power. What do we do with this power installed if the wind does not beat or the sun does not shine? We import energy from neighbors. This winter Romania was the leader in the imports of electricity.
Instead, nothing has been invested in the thermoelectric plants. In the big hydropower plants, the modernization investments were at the limit of the damage.
It is to be ... Read more »

Date: |2019-02-28|

By Jerom Bolt
The Senator Serban Nicolae, the initiator of a legislative proposal on the repatriation of the NBR's gold reserves, believes that Romania can now afford "to keep its gold reserve in its own territory" because it has sustainable economic growth and inflation under control.
"The years 2017 and 2018 confirmed this, namely that the Romanian economy is still growing, that there is macro economic stability and that the Romanian economy could offer such security guarantees", added Serban Nicolae. The Senator stressed that he proposed by the project that repatriation of the reserve be integral.
"I believe that we are in a situation where Romania can afford to keep its gold reserve in its own territory, safely, not to pay rent for this, and the National Ban ... Read more »
Date: |2019-02-28|

By Emea Riga
While the Austrians at OMV are exploiting the most cost-effective crude oil resources and sabotaging our off-shore projects, Americans have reported the wrong policy of OMV and are investing in Romania. Romania has oil reserves in excess of one billion barrels, says Spencer Coca, country manager of Mazarine Energy, a company part of American Carlyle, who bought several marginal production fields from OMV Petrom.
"For Romania, there is very good news and we should not forget it. Romania has oil reserves in excess of one billion barrels. If we value this resource, we realize that there is a very high value, and this value is expected to be achieved, and we want to be part of it, "said Mazarine official at a conference.
"We see potential on-shore in Romania. Romania ... Read more »
Date: |2019-02-20|

By Edwig Ban
Today, in Azerbaijan, the fifth Annual Meeting of the Southen Gas Corridor Advisory Council (SGC Advisory Council) takes place. Romgaz SA Romania will reiterate its support for the development of the Southern Corridor project, but taking into account the continuation of the transport infrastructure by completing the Bulgaria-Greece Interconnector and the BRUA Project in the context of developing relations with Azerbaijan and potential partnership with SOCAR.
In this context, Romgaz's General Manager Adrian Volintiru signed the Letter of Intent addressed to the SGC Advisory Council, chaired by Azerbaijan President Ilham Aliyev. Through this official document, Romgaz has expressed an interest in analyzing the opportunity to use the South Corridor infrastructure to ensure security of g ... Read more »
Date: |2019-02-20|

By Constantin Radut
The corvette international tender returns after Constanta Shipyard (SNC) dropped the trial with the government. According to well-informed sources, the Constanta Shipyard (SNC) filed today, on February 18, 2019, with the Constanţa Court of Appeal a request for withdrawal from the court in the administrative and fiscal file that it filed for a GD appeal no. 48/2018, normative act justifying the procurement procedure for the "Multifunctional Corvette" endowment program.
The request for legal action was formulated strictly within the framework of the administrative contentious law, without requesting the suspension of the contested normative act, according to the document submitted by the SNC.
According to the above-mentioned document, SNC's decision to quit the ... Read more »
Date: |2019-02-18|

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The Romanian Business Journal
Constantin Radut
Editor in Chief
031726 Bucharest, Romania
+40 725 511 887