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Sintofarm will give up medicine manufacture to become real estate developer

Wednesday, November 25, 2015


The medicine producer Sintofarm (SINT) summoned its shareholders at the end of December to decide on selling equipment, trademarks and other shares and on taking over the name Imosint and change the field of activity for real estate development. Shareholders must decide on selling the whole trade fund of the company except for buildings. The meeting will be held on December 21. Sintofarm has a factory in ...

Elsid Titu shareholders lost case against Euro Insol, financial administrator of Hidroelectrica

Wednesday, November 25, 2015


Shareholders of Elsid Titu company, Mihai Tufan and Mihai Anastasescu, lost their case against Euro Insol, the financial administrator of Hidroelectrica, the appeal formulated by them against the application in 2012 of force majeure in the contract supplying electricity concluded with Hidroelectrica being denied by Bucharest Court of Appeal. “Elsid contested the application of force majeure in 2012, registered with Bucharest Court with no. ...

Nova Vita Medical Center selects innovative GE Healthcare technologies for new diagnostic center

Wednesday, November 25, 2015


Investment in new technology will help hospital deliver better care to more patient and support Nova Vita to meet healthcare needs of the future Nova Vita Medical Centre, the largest private hospital in Transylvania, held a celebration to mark the opening of its new diagnostic imaging center. The new 300 sq. meter facility, developed following an investment of EUR 2 million, which was officially opened by Virgil Mailat, the ...

AFI Europe Romania reports 8.2 per cent higher results in the first 9 months of 2015

Wednesday, November 25, 2015

AFI Europe Romania published its Q3 and first 9 months of 2015 financial results, generated a Net Operating Income (NOI) of EUR 10.2 million in Q3 and close to EUR 30 million in the first 9 months of 2015, representing 8.2 per cent higher results compared to the same periods in 2014. Total value of the completed projects, shopping malls AFI Palace Cotroceni, AFI Palace Ploiesti and the first 3 office buildings of AFI Park, increased to close to EUR 600 ...

Indian investor interested to build a poultry farm in Romania

Wednesday, November 25, 2015

An Indian investor is planning to build a poultry farm in Romania, in the Baragan region in south-eastern Romania, an investment estimated at 150 million euros that could create around one thousand jobs, Agriculture Minister Achim Irimescu ...

Timken Co. announces plan to build a bearing plant in Romania

Wednesday, November 25, 2015

Timken Co. which makes bearings, transmissions, gearboxes, belts, chain and related products, announced it will build a bearing plant next year near Ploiesti, Romania. In ...

UTA to launch its operations in Romania

Wednesday, November 25, 2015

German group UTA (Union Tank Eckstein GmbH & Co. KG), one of the largest providers of fuel cards and services in Europe, is announcing the launch of its operations in Romania and its intention to reach a market share of 15pct in the next three years, the company's CEO Volker Huber told a press ...

Ambassador Jean-Hubert Lebet: Azomures, one of the best examples of Romanian-Swiss cooperation

Wednesday, November 25, 2015

 Swiss Ambassador to Romania Jean-Hubert Lebet said on Thursday, in Targu Mures, during the ceremony for completing investments of 240 million euros in chemical plant Azomures, that this company is one of the best examples of Romanian-Swiss ...

CBRE study: 12% of the outsourcing companies in Romania are call centers

Wednesday, November 25, 2015

Only 12% of the outsourcing companies with operations in Romania have as main activity the call center part, according to a CBRE study. “Outsourcing is not only call center activity. The Shared Service Centers have had a very important evolution in the last years, as they have tripled their number,” said Laura Dumea-Bencze, head of research within real estate consultancy firm CBRE Romania. Some 47% of the outsourcing ...

US Embassy in Bucharest awards The Montessori School of Bucharest as the winner of the

Wednesday, November 18, 2015


The winner of the month of November of the "Entrepreneur of the Month" distinction, an initiative of the US Embassy in Bucharest, is The Montessori School of Bucharest. The distinction was presented by US Ambassador to Bucharest Hans Klemm to school founder Ana Maria Brezniceanu. The US diplomat praised the Montessori School of Bucharest's development, having at this moment 140 pupils, as well as 22 teachers and educators who teach children up to the age of ...

Akcenta triples client base in Romania and posts a sixfold turnover in Q3 over Q1

Wednesday, November 18, 2015

Akcenta Romania, a non-bank payment institution which performs foreign payments and foreign exchange transactions for its clients with import and export operations, posted a significant growth in the first nine months of the year, tripling its clients’ base from Q1 to Q3, and reaching to EUR 4.1 million turnover in the same trimester, six times more compared to Q1 and more than double compared to Q2. Also, client’s base tripled in nine months, ...

Electrica profit jumps in Q3

Wednesday, November 18, 2015

 Romanian state-owned power utility Electrica Says its net profit posted a roughly 27 percent rise on the year to 428.2 million lei ($103.57 million) in the nine months of the year, Reuters reports. Says its revenue rose to 3.96 billion lei, compared with 3.66 billion in the same period of last year. Says it recorded a net profit of 151 ...

Click4Fashion distributor of La Redoute in Romania and Bulgaria

Wednesday, November 18, 2015

La Redoute, one of the largest online fashion retailers in France, has found a new official distributor for its brands in Romania and Bulgaria. Online store Click4Fashion is now the only online store in these two Eastern European countries who can guarantee delivery of La Redoute products that are ordered online in Romania and Bulgaria. According to Mira Anghelescu ...

Orange Romania renews agreement with football league

Wednesday, November 18, 2015

Orange Romania and Romania's Professional Football League entered into a partnership whereby Orange continues to offer matches from the country's top football league via its Orange TV Go offer. Also, the league was renamed 'Liga 1 Orange'. Customers who sign up for one of the new Orange tariff plans Orange Me, Orange Pro or Orange Net until 10 January 2016 as well as existing Orange TV go customers gain unlimited access to Liga 1 matches on a phone, ...

Romania, China courts rule for Vringo in ZTE patent cases

Wednesday, November 18, 2015

 Vringo said it has received favourable rulings in litigation against ZTE in Romania and China. In Romania, on 11 November, the Bucharest First District Court rejected ZTE Romania's challenge to enforce the preliminary injunction that has been in place against ZTE Romania since end June 2014. ZTE Romania had previously lost all rights to appeal the preliminary injunction. In China, the Patent Re-Examination Board (PRB) of the State Intellectual Property Office of the ...

Orange Romania offers Microsoft services to businesses

Wednesday, November 18, 2015


Orange Romania partnered Microsoft to offer local companies cloud products through the Microsoft Office 365 for Business and Microsoft Office 365 for Enterprise packages. The packages comprise an email profession service with an own domain, a portal for the management of documents and intranet (through Sharepoint), the Skype for Business video-conferencing platform and access to the latest Microsoft Office package, all in an advanced data security ...

Huawei Romania revenues up 24% y-on-y in 2014 

Wednesday, November 18, 2015

Huawei Technologies' subsidiary Huawei Romania registered a turnover of almost RON 700 million in 2014, up by 24 percent year-on-year, writes local daily Ziarul Financiar citing Huawei Romania's enterprise and integrated accounts director, Vlad Doicaru. Huawei Technologies plans to increase its business in Romania in the enterprise segment through IT products but also by adapting its portfolio for operators to private companies in other sectors, Doicaru ...

Conpet recorded in the first nine month of 2015 a net profit up by 8.5pct year-on-year

Wednesday, November 18, 2015

 Conpet recorded in the first nine month of 2015 a net profit of 52.010 million lei, up by 8.5pct year-on-year, according to financial information sent on Thursday to the Bucharest Stock Exchange (BVB). The company's turnover increased by 1.3pct to 285.663 million lei, while revenues totalled 312.998 million lei between January - September, up by 1.1pct year-on-year. According to the financial report, Conpet's operating expenses ...

Two new Ingenius Hub spaces to support entrepreneurship

Wednesday, November 18, 2015

Young entrepreneurs in Bucharest now have access to two new Ingenius Hub spaces, a project aimed at supporting entrepreneurship funded by means of EU grants, a statement sent on Wednesday ...

Romania's insolvency rate is four times higher than the average in CEE

Wednesday, November 18, 2015


Romania's insolvency rate is four times higher than the average in Central and Eastern Europe (CEE), specifically 45 per 1,000 active companies, informs a Coface survey presented on Wednesday in a press conference. Thus, Romania tops the ...

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