The following memo was sent to me a few days ago from Baker Tilly Klitou, one of the most important accounting firms in Romania, in regards to the no.33 Order on the 11th of January 2012 for certifying the statement regarding the non-deductibility of VAT related to expenses. The document listed below is a step-by-step explanation of the Order which I think warrants a careful analysis. I think that this information is worth your attention.   “Certification of the non-deductibility of VAT related to expenses recorded in reimbursement requests submitted to the management authority Official [...]

  Last week I participated at the “Wind Power Romania” event, one of the most important conferences for Green Energy in Romania and the Balkans. I was impressed by the quality of speakers and their presentations. I consider it a “training” by some of the top experts in Green Energy today in Romania and Europe. It was clear that the interest is very strong for Romanian Green Energy, especially in the wind and solar segments (hydro and biomass will move as well, but not as fast). Hundreds of investors want to enter the market, reminding me sometimes of the “golden [...]

  (The first article of this year on my blog was scheduled to be about Romania. But I will wait a bit, in order not to enter in the political discussions of this period). 2012 has started and after the celebrations of the first days, everyone realized that it will be a really difficult year. People continue making the mistake of considering that it is the “Greek problem” that needs to be solved. But the truth is far more complicated… Most of European countries are in trouble ·         The German economy is reported to be [...]

  Merry Christmas everyone! 2011 is about to end so this seems like a good moment to draw the line and look at the present situation in Romania. It appears that the period of decline has ended and there is cause for sustainable growth in the up-coming months and years, although the country still faces challenges in the future. One thing is clear: the only segment in Romania that is really advancing is RETAIL. The conclusion is that when someone knows what he wants to do and is well prepared, Romania gives him the opportunity to develop a successful project. Below you will find a list of [...]

  Thomas Lanaras. 12 years ago, he was a billionaire. He gained 300 million Euro from the Greek stock exchange. His plan was to create Europe’s top textile group. His flagship company, “Klonatex”, saw its share rising some… 30 times in just 3 years, exceeding a capitalization of 3 billion Euro. At that time, more than 340.000 people were stakeholders in one of his companies. Laurentis Laurentiadis. 4 years ago he concluded some of the most incredible deals in European business history, by selling shares in his company and a newly created group of companies he set [...]

  Some days ago the Austrian Governor of the National bank announced that the Austrian banks should withdraw capital from the CEE region, where they have invested a… “river of billions of Euro”. The Romanian president, Traian Basescu, replied in a very strict way, warning that this move would be a major mistake. But still many of you keep on asking me: “Ok, if this happens during 2012, what does it mean for the Romanian Real Estate and Green Energy markets?” I don’t blame the Austrians or Mr. Basescu… It is easy to start swearing. I already saw [...]

  The Eurozone still trembles and many people already doubt that last night’s measures will solve the problem. An important part of Romanian banks suffer from a serious cash shortage, this is why they approve very few loans and they try to be as careful as possible. The Romanian economy looks under control though. This stability inspires several investors to look for deals in all segments of Romanian economy. But the international environment worsens every single week. “So what do we do?” No time for risks During this turbulent period, there is no reason for someone to [...]