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By Jerom Bolt
"Oltchim S.A. informs shareholders that the asset sale agreement with Chimcomplex S.A. has been completed. Borzeşti, by fully transferring the transaction price and the transfer of ownership of the assets as of 08.12.2018 on 07.12.2018, "Oltchim Ramnicu Valcea says in a press release.
Virgiliu Bancilă, Chairman of the Board of Directors of SC Chimcomplex SA Borzeşti, the company that acquired Oltchim's most important asset packages, declared that the Chimcomplex projects in the short and medium term after the purchase of Oltchim Ramnicu Valcea aim at creating the Romanian Chemical Company.
The Romanian Chemical Company's project will relaunch an important branch of the Romanian industry, destroyed in the last 25 ... Read more »
Date: |Today|

By Edwig Ban
Further on to the analysis of our daily on incoherent energy policy and the chaotic support of renewable sources, we present the reflections of a former dignitary in the field.
The National Energy System is morally exhausted and needs backup, the former energy minister, Andrei Gerea, drew attention to a special conference on Friday.
"We all want to have clean production capacities, but in the past two to three years we do not invest in renewable, wind or photovoltaic energy for two reasons: the support schemes disappeared and secondly any additional capacity of renewable energy needs protection systems of the National Energy System. The national energy system needs a backup and it is provided by the coal part. The Romanian energy system is exhausted from a moral point of view. ... Read more »
Date: |2018-12-08|

>>>GDP advance to 4.3%in the third quarter of 2018 and 4.2% in the first nine months of the year

By Jerom Bolt
The Gross Domestic Product (GDP) has gone up by 1.9 pct in Romania, the second place after Malta (3.6 pct) in the EU, as opposed to the 0.2 percent in the Euro zone and 0.3 percent in the European Union in the third quarter of 2018.
The provisional data published Friday morning by the National Institute of Statistics (INS) shows that in the third quarter of 2018, the economy's advance was of 4.3 percent in the gross series and 4.1 percent in the seasonally adjusted series, in comparison with the similar period of last year. As opposed to the second quarter of this year, the GDP registered a growth of 1.9 percent in real terms. Furthermore, during the period of Januar ... Read more »

Date: |2018-12-07|

>>>More renewable energy would unbalance the national energy system and disadvantage the hydraulic and nuclear energy

By Constantin Radut
An obscure organization with interests to promote the affairs of some foreign groups in Romanian energy comes out again with proposals for scandal on the energy market.
The PATRES has criticized the Integrated National Plan for Energy and Climate Change (PNIESC), where the Energy Ministry proposes a 27.9% share of renewable energy in 2030, stating that the target should be to be 35%.
"Why does renewable energy not be a priority for Romania, as it is for all EU countries?" asks rhetorically the representatives of PATRES.
Yes, it is, we answer, if the Ministry of Energy does not want to re ... Read more »

Date: |2018-12-04|

By Emea Riga
The government and the employers' organizations on Thursday signed an agreement whereby the construction sector is declared a priority for the next 10 years, the monthly minimum gross salary in the field is set at 3000 lei and the taxes due by the employer for the labor force are eliminated.
"The agreement between the Romanian Government and the Federation of Employers' Societies in Constructions, which aims to support the development of the construction sector in Romania, was approved by memorandum today at the solemn meeting of the Government held in Alba Iulia. The Government is considering measures to support this area , taking into account that the construction sector is a priority for achieving the objectives set out in the Governing Program and that this activity is decisive for the realizati ... Read more »
Date: |2018-11-29|

By Jerom Bolt
Romania could enter the exchange rate system, a pre-chamber of the eurozone, in 2024, where it must remain for at least two years until the adoption of the single currency, Mugur Isărescu, Governor of the National Bank of Romania (BNR) announced on Wednesday.
Isarescu stressed that 2024 is a reasonable entry horizon in the exchange rate system.
"The reasonable horizon to enter the exchange rate system is 2024. From there, the road is just ahead, it takes two years or more," the governor said.
Earlier, the Finance Minister had indicated 2024 as the date for joining the single currency, which implied entry into the exchange rate system by 2022 at the latest, writes.
"It is not as the governor wants, one or the other, is a political decision, but it is a decision of great ... Read more »
Date: |2018-11-28|

By Edwig Ban
The first trading session on BVB took place on November 20, 1995. 23 years ago, 6 companies were listed on BVB and investors traded 905 shares during that session. Currently, over 31.3 million shares issued by 87 companies are traded on average every day on BVB’s Main Market Adrian Tanase, BVB CEO: It is only when we look back that we can see how much we had to do and how much progress has been made in Romania and in the local capital market. We are confident about the future as we prepare the infrastructure needed for the market to develop so that in 2020, when we will celebrate 25 years from the first transaction on the BVB, we will have a more sophisticated market that meets the diverse needs of investors
Bucharest Stock Exchange (BVB), a fundamental ... Read more »

Date: |2018-11-25|

The Romanian Business Journal
Constantin Radut
Editor in Chief
031726 Bucharest, Romania

+40 725 511 887