• austriantimes.at
• croatiantimes.com
• salzburgtimes.at
• viennatimes.at
• austrianindependent.com

04. 02. 10. - 16:00

• more Business news...
• RSS Feed Business

04. 02. 10. - 16:00

Austrian investor to open largest shopping mall in Romania

Romanian Times

Sun Plaza shopping mall in Romanian capital Bucharest, the largest in the country, will open on 25 February following a 200 million Euro investment.

Austrian investor Sparkassen Immobilien AG and Romania-registered developer EMCT announced the news today (Thurs).

The project's completion has been postponed several times. Work was initially scheduled for completion in 2008.

In October 2009, the two investors announced the shopping mall would open on 18 February 2010.

Sun Plaza will have 150 stores and 2,000 parking places and be connected to Piata Sudului subway station through an underground passageway.

The mall will have an area of 210,000 square metres, of which 80,000 square metres are retail space.

Cora hypermarket, Baumax, Mobexpert and Flanco are some of the retailers opening stores at Sun Plaza. Mall stores will carry such Inditex's brands as Zara, Pull and Bear, Bershka and Stradivarius.

Sparkassen Immobilien, the real-estate division of Austrian Erste Bank group, owns land in Romania, some in the Grivita area of Bucharest, where the company is planning to build an office building and a four-star hotel, and some in Jilava near Bucharest, where the investor may build a shopping mall.

Romanian-registered EMCT is owned by two French businessmen.

Health minister considers taxing fast food and beer
The new Health Minister Vasile Cepoi said today (Thurs) that the next Health Care Law might include a new tax on fast food and beer, local press informs.

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Government to introduce ‘Robin Hood’ tax on oil companies
Minister of Economy Daniel Chitoiu announced today (Weds) that the government is working on a piece of legislation on introducing a supplementary tax on the exceptional incomes of the oil companies that should be passed by the year end and implemented as of 2013.

Education Minister stepps down amid plagiarism accusations
Ioan Mang, the education minister appointed only two weeks ago together with the new cabinet of Social Liberal Union (USL) leader Victor Ponta, resigned Tuesday (yesterday) night.

Brancusi’s son doesn’t want his father remains to be moved to Romania
John Moore, the only child of sculpture Constantin Brancusi, reacted to Romania’s intention to repatriate the remains of his father, saying his last will was to be buried in Paris at Montparnasse, Libertatea newspaper informs today (Weds).

Romania back in recession, growth to resume in H2
Romania officially entered recession today, following the figures published by the National Statistics Institute (NSI) that show a decrease of the GDP for two consecutive quarters (Q).

Police head sacked over underground boss runaway row
The head of the Romanian Police Liviu Popa (picture) was sacked today (Tues) by Home Affairs Minister Ioan Rus, the ministry informs.

UK Ambassador Harris says new Cabinet took right decisions so far
The UK Ambassaodr in Romania, Martin Harris says Victor Ponta’s new government got off on the right foot by making clear that its economic policy will continue to be framed within the programme agreed between Romania and the EU, World Bank, and IMF.

Carmen Sylvas x-rayed hand to be auctioned
A x-ray of the left hand of Romanian Queen Elisabeta will be auctioned in Bucharest by Artmark auction house, Libertatea newspaper informs today (Tue).