This is the second-sharpest decline in the European Union, after Slovenia, which registered an annual drop rate of 32.2 percent. However, month-on-month data indicates that Romania’s construction sector posted the second-highest growth rate in the EU in September, of two percent.
At the national level, the “star” field in terms of suspensions, dissolutions, and deregistrations in the first ten months of this year is the wholesale and retail trade, where more than 65,000 enterprises are in the liquidation stage. The most affected sectors, if we consider the large amounts traded in previous years, are construction and ...
“This figure is absolutely normal. The first sector hit by insolvency was trade, followed by construction and real estate. ONRC data is very clear and matches our statistics,” the President of the National Union of Insolvency Practitioners in Romania (UNPIR), Arin Stanescu, told Business Standard. He added that the situation will worsen in the coming ...
The domain on which the most jobs disappeared is manufacturing, with over 180,500 less employees, while health care staff increased by 7,500, public administration by 4,700, and education by 2,500 employees. Other industries hard hit by Romania’s recession are contruction, with 58,700 employees laid off since September 2008, trade, with 40,700 jobs lost, the extraction ...
The two hotels, both part of the Accor hotel group, will have the same management team, and share the same facilities, meaning a substantial reduction in costs, according to a statement for Business Standard by Axel Faivre, General Manager of WTC.
The factory should begin activity at the end of September, a few months later than initially planned, the month of April. “There were two main reasons for this delay: a series of construction that was not ready on time and, given the fact that we brought the newest technologies in Brasov, we had to change ...
