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Cluj County Council gets 8.6 ha for the first tech park in Transylvania

Posted by on Mar 22, 2017 in NEWS | 0 comments

Cluj County Council gets 8.6 ha for the first tech park in Transylvania

The Cluj County Council received a plot of over 86,300 sqm from the Ministry of Transport for creating the scientific and technological park Tetapolis, reports Profit.ro. This will be the first science and technology park in Transylvania, according to Romania-Insider.com. Tetapolis aims to help companies that develop new technologies, which will have facilities for business incubators and support services, such as research laboratories. The investment is estimated at EUR 50 million, and will be partly financed with EU funds. The project is...

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Uber plans to launch carpool service in Romania by mid-2018

Posted by on Mar 21, 2017 in NEWS | 0 comments

Uber plans to launch carpool service in Romania by mid-2018

Technology start-up Uber is looking to launch UberPool in Romania in the next year and a half, according to Nicoleta Schroeder, the general manager of the local operations, according to Business-Review.eu. The new service allows user to share the ride and split the cost of a trip with another Uber rider headed in the same direction. The GM of Uber Romania said that the app reached 250,000 users in 2016, growing three fold year-on-year. The app is currently available in four Romanian cities, including Bucharest, when it first launched in...

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Romania’s Electric Castle festival adds Franz Ferdinand and UNKLE to its 2017 lineup

Posted by on Mar 21, 2017 in NEWS | 0 comments

Romania’s Electric Castle festival adds Franz Ferdinand and UNKLE to its 2017 lineup

The organizers of Romania’s Electric Castle music festival have announced new names for this year’s lineup, including famous indie-rock band Franz Ferdinand and well-known band UNKLE, says Romania-Insider.com. Other artists announced on Tuesday are Zedd, Paul Van Dyk, Dub Pistols, Dimension, Mind Against, Timo Maas, Dillinja, and Cassy. They have joined the impressive lineup that already includes House of Pain, deadmau5, Trentemoller, Moderat, Alt-J, Nero, Noisia, and DJ Sneak, among many others. Franz Ferdinand are one of the best-known...

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Romania ranks 15th position in Knight Frank’s 2016 global house price index

Posted by on Mar 21, 2017 in NEWS | 0 comments

Romania ranks 15th position in Knight Frank’s 2016 global house price index

Romania jumped from the 31st position in 2015 to the 15th in 2016 in Knight Frank’s global house price index. The consultancy says the local market has doubled its price growth rate in 2016, from 3.6 percent to 7.8 percent, and it expects this trend to maintain, according to Business-Review.eu. At a global level Iceland leads the ranking for the first time, with a house price increase of 14.7 percent per annum. The ranking also shows that out of the 55 analysed countries, 40 had posted price increases. “The overall picture is one of...

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Romania’s President will have an official meeting with Prince Charles next week

Posted by on Mar 20, 2017 in NEWS | 0 comments

Romania’s President will have an official meeting with Prince Charles next week

Romania’s President Klaus Iohannis will have an official meeting with Prince Charles, the heir to the throne of the United Kingdom, on March 29, according to Romania-Insider.com. Moreover, the President will also host a reception in his honor, Madalina Dobrovolschi, the spokesperson of the Romanian Presidency, announced on Monday. Prince Charles will be in Romania from March 29 to March 31, this being his second official visit to the country since 1998. The visit is part of a regional tour that will continue in Italy and Austria. Prince...

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Praktiker aims to reach 20 redesigned stores this year

Posted by on Mar 20, 2017 in NEWS | 0 comments

Praktiker aims to reach 20 redesigned stores this year

DIY retailer Praktiker has invested EUR 1.2 million in the revamp of two of its stores in Oradea and Ploiesti stores and the company aims to reach 20 redesigned units by the end of this year out of the 27 stores that it has in Romania, says Business-Review.eu. Omer Susli, the owner of Praktiker Romania, said the modernization strategy has generated higher sales in the case of all the stores that went through this process. “This confirms that the strategy we are pursuing is successful, being favorable for the clients of Praktiker Romania, by...

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E&Y: Half of Romanian family businesses make it to the second generation

Posted by on Mar 19, 2017 in NEWS | 0 comments

E&Y: Half of Romanian family businesses make it to the second generation

Half of local family businesses are passed to the second generation of owners, while 20% make it to a third generation, according to the E&Y study The Barometer of Family Owned Business in Romania. At the same time, only 3% of family businesses go beyond the third generation of owners, according to Romania-Insider.com. The study surveyed 247 family business owners, who answered an online questionnaire between February 8 and March 5 of this year. Some 44% of respondents said that their business was completely dependent on them while 62%...

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Bistrita-born Tiberiu Useriu becomes first to win 6633 Arctic Ultra twice

Posted by on Mar 18, 2017 in NEWS | 0 comments

Bistrita-born Tiberiu Useriu becomes first to win 6633 Arctic Ultra twice

On Friday Bistrita-born Tiberiu Useriu (43) won the 6633 Arctic Ultra ultramarathon held in Canada, around the Arctic Circle and became in the proccess the first in the world to achieve such feat twice in a row, potrivit Business-Review.eu. Useriu led from start to finisg in the race, regarded as ‘one of the toughest, coldest and windiest ultra distance on the planet’.He crossed the finish line at 01.25 am, Canadian time, at a temperature of – 36 degrees Celsius, according to the Facebook page of the event. He ran the last kilometers in...

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Banca Transilvania leads blue-chip decliners on Bucharest stock exchange, indices fall

Posted by on Mar 17, 2017 in NEWS | 0 comments

Banca Transilvania leads blue-chip decliners on Bucharest stock exchange, indices fall

Blue-chip lender Banca Transilvania [BSE:TLV] led the decliners among the blue chips on the Bucharest Stock Exchange (BVB) on Thursday, bourse data showed, quoted by SeeNews.com. The total equity turnover of the BVB rose to 57.2 million lei ($13.4 million/12.5 million euro) from 32.8 million lei on Wednesday. Banca Transilvania led blue-chip decliners, losing 1.99% to 2.7150 lei in the day’s highest turnover of 10.75 million lei. Blue-chip investment fund Fondul Proprietatea [BSE:FP] rose 0.46% to 0.8790 lei in the day’s second...

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Fixed broadband internet connections in Romania 80% faster in 2016, mobile speed – up 35%

Posted by on Mar 16, 2017 in NEWS | 0 comments

Fixed broadband internet connections in Romania 80% faster in 2016, mobile speed – up 35%

The average fixed broadband internet download speed in Romania went up by 78% last year, compared to 2015, to 95 Mbps, according to data from local telecom regulator ANCOM. The average download speed for mobile connections also increased by 35% to 26 Mpbs, says Romania-Insider.com. Average upload speeds also increased in the country, from 53.9 Mbps in 2015 to 78.8 Mbps in 2016 (+46%) for fixed broadband connections, and from 8.39 Mbps to 10.32 Mbps (+23%) for mobile connections. ANCOM gathers data on the quality of the internet service...

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