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European Commission launches probe into $2.5bn Romanian motorway contract
The European Commission is investigating the award - without a tender - of a $2.5bn (2bn-euro) contract to the US company Bechtel, to build the Brasov-Bors motorway, according to the Financi...
Porumboiu goes into winemaking
Businessman Adrian Porumboiu who controls an agricultural holding the turnover of which is upwards of 2,300bn ROL announced he would enter the wine market this summer. "God did not give us w...
Natural gas imports eat into Petrom's profit
SNP Petrom, the largest company on the Romanian market, anticipates to post poorer financial results this year than last year, particularly because of the expenses for import and storage of...
Continental goes into leisure
Domestic hotel chain Continental will tap into a new market segment: the leisure tourism, says president, CEO and majority shareholder Radu Enache. "Every hotel in our chain is usually locat...
UniCredito feeds another 10m euros into Romanian business
The Italians at UniCredito will invest another 10 million euros in their Romanian operations by yearend, as they plan to be among the leading players in the Romanian banking system. The nich...
School start turns into lucrative business for retailers, insurers try to profit, too
The beginning of the school year has proven, if necessary, that big money can be made from doing business with kids. At least this year, when the overlapping of two generations of first grad...
European Drinks goes into beer
Starting September, European Drinks group will launch two new beer brands on the market, Burger and Servus, both packaged in plastic one-litre and two-litre bottles. For the time being, the...
Internet eats into black market
The international freight road transport licenses will be electronically assigned on www.e-licitatie.ro website as of mid this month, in an attempt to curb corruption down to zero, carriers...
Globtel Internet and AIGNET merge into Globtel Holdings
The communications industry, still effervescent seven months after the market deregulation, sees consolidation efforts pick up speed. This is also the case of Internet service providers Glob...