Electrica Has New Executive Board, Buys Stakes Held By Fondul Proprietatea
The Ordinary General Meeting of Shareholders of electricity distribution and supply company Electrica SA (EL.RO) elected a new Executive Board, on October 26, which comprises seven members and also approved the acquisition by Electrica of Fondul Proprietatea’s entire participation in the share capital of Electrica branches.
The contract for the sale-purchase of shares is to be concluded by the company’s competent bodies.
The global transaction price exceeds RON752 million, as follows: a total price of RON209,744,928 for 21.9999979% of the share capital of electricity distributor Muntenia Nord; a total price of RON201,702,667 for 22.00001% of the share capital of electricity distributor Transilvania Nord; a total price of RON173,504,365 for 21.9999981% of the share capital of electricity distributor Transilvania Sud; a total price of RON167,079,881 for 22.000027% of the share capital of Electrica Furnizare. (mediafax.ro)
Romania Plans To Raise Minimum Gross Wage As Of Jan, But Puts Off Minimum Pension Rise
The Romanian government plans to raise the minimum gross wage to RON1,900 as of January 1, 2018, but it will put off increasing the guaranteed minimum pension to RON640 for July 1, 2018, compared with the initial deadline of January 1, 2018.
The minimum gross wage currently is RON1,450.
The government also plans to lower the contribution rate to the mandatory private pension system known as Pillar II, from 5.1 to 3.7%, but without affecting the current nominal value, Labor Minister Lia Olguta Vasilescu said Thursday. (mediafax.ro)
Iohannis: Romania’s GDP Almost Doubled, Purchasing Power Rose 20% In Ten Years Of EU Membership
Romania’s President Klaus Iohannis on Thursday said the country’s gross domestic product nearly doubled and the purchasing power rose 20% during the ten-year period since the country’s accession to the European Union.
„The new EU member states, among which Romania, registered the biggest increase in GDP per capita, of 5%, on average, per year. In Romania, during the ten year-period since the country’s EU accession, the GDP almost doubled and the household purchasing power grew by 20%”, Klaus Iohannis told a conference celebrating ten years since Romania’s EU accession.
„Romania has a historic chance to absorb the funds put at disposal by the EU and it will have to make the most of this opportunity ever year”, the president also said. (mediafax.ro)
Road Cracks And Humps On Highway 1
Highway 1, on the way to Sibiu-Sebes, is facing cracks and humps on a distance of 70 meters which prompted speed limits of 60 km/hour, said Romania’s national road infrastructure administration company (CNAIR).
All people and institutions involved in the unfolding of the project are summoned Friday at CNAIR headquarters to present a report regarding the causes of this problem and to come up with solutions. (mediafax.ro)