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Business Review

ExxonMobil and OMV Petrom find gas in the Black Sea during exploration works 03/02/2012
Domino-1, the first deepwater exploration well, which was jointly set up by ExxonMobil and OMV Petrom in late 2011, has encountered the first natural gas deposits in the Romanian sector of the Black Sea. However, it is too early to say if the discovery proves to be commercial or not. Ovidiu Posirca […]
Romania shivers under snow and blizzard alert until Sunday evening 03/02/2012
The yellow alert for snow and blizzard has been prolonged until Sunday evening at 20:00. It will snow countrywide and snow thickness is expected to exceed locally 20 cm especially in the hills and mountains area. Simona Bazavan […]
Kapsch acquires Romanian firm Squario IT Solutions 03/02/2012
Austrian corporation Kapsch, specialized in solutions for domains such as intelligent transportation systems, telecom and railway operations, information and communication technology, has announced today the takeover of Romanian firm Squario IT Solutions. Otilia Haraga […]
Arrears of IMF monitored SOEs decreased by 15 percent to EUR 1.9 bln in 2011 03/02/2012
The Romanian Ministry of Economy, Commerce and Business Environment (MECMA) has reduced the level of arrears in 8 state-owned companies (SOES) monitored by the IMF to EUR 1.9 billion last year, although the operational loss target was missed by 7 percent. Ovidiu Posirca […]
VAT reduction not an option says finance minister 03/02/2012
Government has no intention to reduce the VAT, not even for food products, Romanian finance minister Gheorghe Ialomitianu said this Friday. He added that if any tax cuts will be operated, the priority will be to reduce the social security contributions. Simona Bazavan […]
Businessman Sorin Ovidiu Vintu sentenced for blackmail 03/02/2012
Businessman Sorin Ovidiu Vîntu received a half-year sentence for blackmail, as decided by the Court of Justice in sector 1. The decision is not definitive and can be contested. Otilia Haraga […]