12.04.2012

Romania’s Government on Tuesday lowered the cap on annual reimbursable financing local authorities may contract between 2013 and 2015 to stay within the consolidated budget deficit target. more

11.29.2012

The Bucharest Council on Thursday approved a memorandum whereby thermal power producer ELCEN will be taken over by the City Hall. more

11.21.2012

Businessman Ovidiu Sandor, developer of City Business Center project in the western Romanian town of Timisoara, completed the fourth building of the business park, in a EUR10 million investment more

10.10.2012

The Romanian unit of Austrian bank Raiffeissen will transfer almost half of its employees in the Bucharest-based office building Floreasca City in the spring of 2013. more

08.30.2012

Romanian local authorities will have to reduce arrears monthly by at least 5% or they will no longer receive state budget funds, as per a draft emergency decree drawn up by the Finance Ministry. more

08.08.2012

Romania’s Finance Ministry will stop payments from income tax and VAT collections provided to local authorities, for the city halls which received money from the Government's reserve fund during the more

06.13.2012

Sorin Oprescu has been reelected Mayor of Bucharest, with 54.79% of the votes cast Sunday, while the runner-up, PDL deputy Silviu Prigoana, got 17.12% of the ballot, according to the final results of more

05.29.2012

Several shareholders led by UK’s City of London are showing support for Franklin Templeton because they fear the payment of the 531 million lei (EUR119 million) in dividends from last year’s more

05.03.2012

Romanian pharmacy chain Sensiblu, the retail division of pharmaceutical group A&D Pharma, will buy 90 City Pharma pharmacies owned by the Relad group. more

04.02.2012

Romanian Prime Minister Mihai Razvan Ungureanu and the country’s ruling coalition have reached an agreement on allotting extra money to local public authorities, so the funds will be used only to more

03.26.2012

Bucharest's general council has approved the city's budget more than a month and a half after the legal deadline, an extremely optimistic budget even for this election year, with revenues expected to more

03.06.2012

The Bucharest City Hall has to find solutions for drastic budget cuts of 1 billion lei (EUR230 million) this year, as revenues are dwindling and the institution has already run out of the cash more

02.22.2012

Bucharest shopping center City Mall, owned by businessman Ioannis Papalekas, could be turned into a hospital, according to representatives of real estate consultancy firm CBRE Romania. more

02.02.2012

Real estate investment fund New Europe Property Investments (NEP.RO) Thursday said it has paid EUR16.55 million for the shares in a 40,000 plus square meters office park in Romanian western city of more

01.27.2012

Bucharest City Hall will pay the consortium of TeamNet International, UTI Systems, UTI Construction&Facility Management and Top Ram Project 126.8 million lei (VAT included, EUR29.2 million) for an more

01.26.2012

The European Commission (EC) on Thursday called on Romania to observe EU norms on public procurement in connection with a EUR110 million contract awarded by Bucharest’s sector 3 City Hall. more

01.06.2012

Baneasa Shopping City, the mall in northern Bucharest controlled by Romanian businessman Gabriel Popoviciu, collects some EUR1.5 million per month from rents out of 200 retail spaces, revenue used to more

12.14.2011

Dragos Petrescu, owner of restaurant chain City Grill and manager of Caru’ cu Bere, says the crisis has allowed him to expand significantly in the last two years because land prices and rent levels more

12.01.2011

The shopping centers with poor sales, few clients and hardly any major tenants on the local market are selling at 80% to 90% discount on the prices of 2006 and 2007. The latest deals to prove it are more

11.29.2011

“Get away on a city break and discover the unique stories of Romanian cities,” is the message that the Tourism Ministry sends in an audio advert, as part of the promotional campaign it started more

11.28.2011

Bucharest residents who own electric or hybrid cars will pay only 5% of the tax in 2012, compared with the current 50%, as per an amendment to the city's tax bill for next year, adopted Monday by the more

11.07.2011

Consultants and appraisers believe the EUR17.3 million price that the shopping center City Mall in Bucharest will be sold for is a reference for the discount banks will have to take in order to sell more

10.31.2011

Shopping center City Mall in southern Bucharest, which went bankrupt in November 2010, has found a buyer for EUR17.3 million. more

10.11.2011

Property developer Globe Trade Center, or GTC, has obtained a EUR100 million loan from Erste Group Bank (EBS.RO), to refinance the investment in Bucharest office complex City Gate, company officials more

09.23.2011

Dragos Petrescu, the owner of the City Grill restaurant chain and of Caru cu Bere, has decided to set up a farm on a seven hectare plot in Mihailesti, Giurgiu County (Southern Romania), where he wants more