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BT seeks to buy back own shares for 60 mln lei

Posted by on Sep 22, 2019 in NEWS | 0 comments

BT seeks to buy back own shares for 60 mln lei

Romania’s Banca Transilvania (BT) [BSE:TLV] said it is seeking to buy back 15 million of its own shares for up to 60 million lei ($14 million/13 million euro) as part of plans approved by its shareholders for the repurchase of a total of 35 million shares, according to SeeNews.com. Banca Transilvania will offer to pay a minimum price equal to the market price on the Bucharest bourse at the moment of the purchase and 4 lei at most, the bank said in a statement filed with the Bucharest Stock Exchange, BVB, on Thursday. The redemption...

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Romania ‘s economy to lose steam in 2020-2021

Posted by on Sep 21, 2019 in NEWS | 0 comments

Romania ‘s economy to lose steam in 2020-2021

Romania’s economy is expected to slow down in the short run and return to negative output gap in 2020-2021 due to the rebalancing of the policy mix and to the end of the global post-crisis cycle, Banca Transilvania said on Friday, according to SeeNews.com. However, the convergence toward the EU average would continue in the medium term, as Romania’s GDP continues to grow at a faster pace compared with the EU, Banca Transilvania analysts said in a presentation on challenges for the country at the end of the post-crisis...

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Traian Basescu, Securitate Collaborator, Bucharest Court Of Appeal Rules

Posted by on Sep 20, 2019 in NEWS | 0 comments

Traian Basescu, Securitate Collaborator, Bucharest Court Of Appeal Rules

Bucharest Court of Appeal has ruled on Friday that ex-president Traian Basescu had collaborated with Securitate, the former Romanian political police. The ruling is not final yet, according to RomaniaJournal.ro. According to the civil action filed by College of the National Council for Studying Securitate Archives (CNSAS) in court to establish if former president Traian Basescu has collaborated with the Securitate, the former communist political police, the former head of state would have snitched his colleagues and would have maintained...

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Romania could fall into recession following the electoral cycle

Posted by on Sep 20, 2019 in NEWS | 0 comments

Romania could fall into recession following the electoral cycle

Romanian economy could fall into recession at the beginning of 2021, following the electoral cycle, due to unsustainable deficits, according to Ionut Dumitru, chief economist at Raiffeisen Bank Romania, quoted by Business-Review.eu. “We expect that by the end of 2020, the beginning of 2021, rather, the economy will perform worse and enter into recession. Of course, entering the recession also depends on the international context and how it will be reflected in the Romanian economy,” Dumitru said, cited by economica.net. The economist...

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EU Council backs Romania’s Kovesi for European prosecutor job

Posted by on Sep 20, 2019 in NEWS | 0 comments

EU Council backs Romania’s Kovesi for European prosecutor job

COREPER, the executive body of the Council of the European Union, voted on September 19 in favor of Romanian Laura Codruta Kovesi’s candidacy for the position of chief prosecutor of EU’s newly created Public Prosecutor’s Office, G4media.ro reported. This opens the way for her formal endorsement for the job, according to Romania-Insider.com. Kovesi, the former head of Romania’s Anticorruption Directorate (DNA), received 17 out of the 22 votes in COREPER, which is made up of each country’s permanent representatives. The newly...

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Dan Petrescu: ‘I’d love Serie A job’

Posted by on Sep 19, 2019 in NEWS | 0 comments

Dan Petrescu: ‘I’d love Serie A job’

Cluj Coach Dan Petrescu is “worried” at facing Lazio in the Europa League tomorrow and reveals he’d love to follow Zdenek Zeman’s example in Serie A, according to Football-Italia,net. It kicks off on Thursday at 17.55 UK time (16.55 GMT), as part of a group with Celtic and Rennes. “I watched Lazio’s performance against SPAL and they could’ve scored three or four goals in the first half, but they ran out of steam physically and struggled with the heat. With several players of a certain age, that can happen,” said the Coach in...

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RO rent-a-car service CleverGO expands to Cluj-Napoca and Iași

Posted by on Sep 19, 2019 in NEWS | 0 comments

RO rent-a-car service CleverGO expands to Cluj-Napoca and Iași

Romanian company Clever, which operates the app-based e-hailing service with the same name, will introduce its new rent-a-car service named CleverGO in two more cities: Cluj-Napoca and Iași, in addition to the first two cities (Bucharest and Timișoara) where the service is already available, says Romania-Insider.com. “The launch of CleverGo means extending the range of services offered by the Clever application by including rent-a-car transportation offers to better meet the demand for urban mobility in large cities. We will continue to...

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New study reveals Europe’s fastest-growing freight airport hubs

Posted by on Sep 18, 2019 in Premium Edition | 0 comments

New study reveals Europe’s fastest-growing freight airport hubs

A new study by freight supplier CP Cases has revealed the current status of Europe’s cargo hubs and the airports that have been growing fastest in the sector. It has revealed some interesting examples of up and coming airports set to grow in dominance in the freight market, according to multibriefs.com. The study ranks airports by their total tonnage of freight carried in a year, their year-on-year increase over the past year, and over the past five and 10 years. Obvious and well-known freight hubs naturally feature in the list when ranked...

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Night of Romanian Film returns to Bucharest, Cluj

Posted by on Sep 18, 2019 in NEWS | 0 comments

Night of Romanian Film returns to Bucharest, Cluj

The tenth edition of the Night of Romanian Film takes place on September 20 in Bucharest and in Cluj-Napoca, according to Romania-Insider.com. Over 35 local productions will be screened at the event, some of them ahead of their national releases. Among them are Corneliu Porumboiu’s La Gomera, Romania’s proposal for the 2020 Oscars, Tudor Giurgiu’s latest feature Parking, a love story between a Romanian migrant and a Spanish singer shot in Spain, and Stere Gulea’s Moromeţii 2, the winner of the Best film award at this year’s...

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MedLife buys majority stake in Onco Team Diagnostic lab

Posted by on Sep 17, 2019 in NEWS | 0 comments

MedLife buys majority stake in Onco Team Diagnostic lab

Romania’s privately-owned medical services provider MedLife Group [BSE:M] said on Tuesday it has acquired majority ownership of Onco Team Diagnostic, a local pathologic anatomy and molecular biology laboratory, according to SeeNews.com. Onco Team Diagnostic joins the group’s laboratories that already provide services in this segment, MedLife said in a statement filed with the Bucharest Stock Exchange, BVB. “This is the first step of the expansion and development project approved by the shareholders a few months ago. A...

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