The number of companies undergoing insolvency procedures in Romania declined 52 percent in the first 10 months of 2015, but write-offs were up 9 percent, business suspensions 6 percent and dissolutions 41 percent, according to official data with the National Companies Registry Office (ONRC). Most of the insolvencies, write-offs and dissolutions were reported in retail trade, motor vehicle and motorcycle repairing, at 32,736, up 2.77 percent from the similar period of 2014. Thus, as many as 8,540 companies went insolvent in the first 10 months, down 52.57 pct from the first 10 months of 2014. Retail and wholesale trade companies were the most numerous to follow insolvency procedures, at 2,774, down 43.95 percent from the first 10 months of 2014. Topping the insolvency ranking is Bucharest City, with 1,522 insolvency instances (-49.32 percent), followed by Bihor County, with 461 (-61.52 percent) and Timis County, with 436 (-36.16 percent). As far as write-offs are concerned, 69,640 companies were written off, up 9.16 percent, with Bucharest City also topping the ranking, with 12,097 (+39.93 percent). Retail and wholesale traders were also the most numerous written-off traders, at 4,986, up 8.18 percent from the first 10 months of 2014. As many as 14,278 companies suspended business, with their number up 5.99 percent, while 21,716 companies were dissolved, up 41.53 percent. In the first ten months of 2015, a number of 99,521 traders were registered, up 12.96 percent from the first ten months of 2014, with 26,129 of them as retail traders.
Ireland can be seen as one of the most important business hubs in Europe and the European Union, as many international companies have established regional headquarters there. If you are looking for a country to expand your enterprise, you should definitely consider Ireland for several reasons that are presented below. Location and language The first […]
Cyprus is mostly known as a tourist destination. However, there is also a business side to it, as many investors choose it to open companies because of the favorable taxation system. Apart from its low corporate tax rate, there are a few more reasons why you should choose it if you are looking for a […]
The Romanian Commercial Code provides for various types of entities that can be created by natural persons and companies, local or foreign. Each of them has its own particularities, which can give it various advantages. How do you choose among them? We will review the main types of companies and their pros to help you […]
A new alley named after Romanian diplomat Nicolae Titulescu was inaugurated on Tuesday, December 9, in Paris’s Parc Monceau during a ceremony attended by Romania’s president Nicușor Dan and Paris mayor Anne Hidalgo. “I expressed my appreciation for the decision to name an alley in the beautiful Parc Monceau in Paris after the great Romanian […]
Oxygen Resort, a development located in central Romania’s Harghita county, has inaugurated its first bungalows. The first 18 bungalows are already functional, with another 17 units to be completed in the next stage, bringing the total to 35. The inauguration of the bungalows “marks the transition from a center dedicated predominantly to recreational activities to […]
Romania carried out a new medical evacuation mission for civilians from Gaza on Monday, December 8, transporting eight Palestinian patients and 29 accompanying relatives to Bucharest for treatment, according to the Department for Emergency Situations (DSU). The patients were evacuated aboard a Romanian Air Force C-130 Hercules aircraft after lacking access to adequate medical care. […]
