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Romanian city of Craiova to buy 100 Solaris buses for EUR 12 mln

The municipality of Craiova signed a contract to buy 100 buses for its urban transport service, for EUR 12.2 million (VAT included), according to Mediafax. The contract is for a four-year period and was granted to local company IAC Management in Bucharest, which is controlled by local entrepreneurs. IAC Management is the representative for Romania […]

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Romania’s National Bank cuts interest rate to 3.25%

Romania’s National Bank (BNR) decided on Monday, August 4, to reduce the monetary policy interest rate for local currency (RON) to 3.25 percent per year, from 3.5 percent per year. This is a new low for BNR’s monetary policy interest rate. This move, which should determine local banks to further reduce interest rates for loans […]

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Romania pays back half of EU funds received since accession

Romania received EUR 24.6bn from the EU budget since its accession in 2007, and had paid EUR 10.2bn, according to a report from the Finance Ministry, quoted by Agerpres. Pre-accession funding EUR 2.6 billion, and post – accession, EUR 22 billion. Out of this amount, EUR 9 billion was structural and cohesion funding, EUR 5.6 […]

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Will OTP Bank announce Millennium Bank takeover?

According to unconfirmed information OTP Bank could announce this Wednesday the takeover of Millenium BCP’s operations in Romania. Possible transaction would have great importance for the Romanian banking sector. Romanian subsidiary of Millenium BCP was at a loss EUR 24 million in 2012, this year the losses were cut to EUR 5,9 million. The sale […]

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