Economy of Romania

The Romanian capital market needs American corporate investors and their global network to get the liquidity and development necessary to attain the status of emerging market, says Bucharest Stock Exchange (BVB) CEO Ludwik Sobolewski.

Photo credit: (c) Grigore POPESCU / AGERPRES ARCHIVE

Romania will advocate before the European Commission 1-billion-euro funds for its main irrigation infrastructure under the Juncker programme, given that under its National Rural Development Programme 370 million euros were approved for the rehabilitation of the secondary irrigation infrastructure, Agriculture and Rural Development Minister Daniel Constantin said Friday.

The Romanian capital market is the fastest evolving in Europe, Bucharest Stock Exchange (BVB) CEO Ludwik Sobolewski told the 'Romania Investor Day' conference taking place in London.

Photo credit: (c) Alex TUDOR / AGERPRES PHOTO

Bank of Cyprus said on Wednesday it posted a 256-million-euro loss for 2014, mainly on increased provisions for exposure to Russia.

?The results of the fourth quarter... were negatively affected by increased provisions relating... to impairments in Russia,? CEO John Patrick Hourican said in a statement.

"Enel is confirming that the disposal process for its assets in Romania has been temporarily suspended after reaching the target for debt reduction at the end of 2014," a company representative announced on Thursday.

The European Commission has upgraded its estimates of the Romanian economic growth in 2015 up to 2.7 percent as compared to 2.4 percent growth it had predicted in November, shows the winter forecast made public by the European Union executive on Thursday.

Romania's Ministry of Communications on Tuesday said it had accepted the non-binding offer from the Belgian postal operator bpost for a majority stake in state-owned Posta Romania (Romanian Post).

The judges of the Bucharest Court of Appeals have decided, early Wednesday morning, to dispose the preventive arrest, for 30 days, of Adrian Sarbu, who is charged in the tax evasion case of the Mediafax Group.

Photo credit: (c) Grigore POPESCU / AGERPRES PHOTO

The court's decision is not definitive.

The High Court of Cassation and Justice (ICCJ, Romania's Supreme Court) sentenced former ministers Codrut Seres and Zsolt Nagy on Tuesday to prison terms in a case on faulty privatizations.

Photo credit: (c) CRISTIAN NISTOR / AGERPRES ARCHIVE

Seres was condemned to 4 years and 8 months in jail, and Nagy to 4 years; the sentences are final.

Economic advisor: GDP growth "will be higher"

BELGRADE -- Serbia's economic growth "will certainly be higher than forecast by certain international financial institutions," says Vladimir Krulj.