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Romanian company Vector Watch was taken over by Fitbit, the biggest company for portable devices

Wednesday, January 18, 2017

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The Romanian producer of smart watches Vector Watch was taken over by Fitbit, the American leader on the market for fitness portable devices, without making known the value of the trading, according to an announcement published on the site of the company. The Romanian company announces that they want to combine technology with the expertise and global community of Fitbit, the watches keeping their functions and their ...

Romania on 38th place from 50 in the top most innovative economies of the world

Wednesday, January 18, 2017

Romania is placed on the 38th place from 50 in the top of the most innovative economies of the world, while the Northern countries are on the first positions of the Bloomberg Innovation Index, a ranking of economies based on research and development (R&D) expenses and technology companies concentration owned by the state, says Bloomberg cited by business-review.eu. With a score of 57.06 points, Romania perfoms ...

IKEA to open a second store în Bucharest

Wednesday, January 18, 2017

Swedish retailer Ikea announced it plans total investments of EUR 500 million to reach a number of nine stores in Romania. The company currently has one store open in the Baneasa area of Bucharest, with a second one set to open in the capital, on Theodor Pallady boulevard, in 2018. “Romania is the country with the highest development potential in the South East Europe region and we are taking new steps in the expansion process throughout the ...

Bitdefender to purchase French company Profil Technology

Wednesday, January 18, 2017

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Romanian Internet security software company Bitdefender will purchase French company Profil Technology in what represents its biggest deal so far, business-review.eu reads. Bitdefender announced the takeover of Profil Technology, its partner on the French market, as part of the company’s expansion strategy on the large companies segment. This is the biggest acquisition conducted by Bitdefender and comes to strengthen the ...

CPI acquires Felicia Mall in Iasi

Wednesday, January 18, 2017

Czech-based CPI Property Group has agreed to acquire 11 shopping centers and other retail businesses from two funds managed by CBRE Global Investors in the Czech Republic, Hungary, Poland and Romania, the company announced on Tuesday. The transaction will be completed in the first quarter of this year. As regards the local market, the company will buy Felicia Mall in Iasi. A CPI spokesman declined to ...

60 million products delivered in 10 years by Continental

Wednesday, January 18, 2017

The electronic components plant in Timisoara of German automotive group Continental has supplied 60 million units in its 10 years of activity. 2 million parts enter the production line daily and 45,000 products are manufactured every day, a press release informs. “In this period, Continental completes the factory’s third expansion and the products and new lines, which will be installed, as well as the announced large volumes by customer, ...

InterContinental Bucharest has a new General Manager (GM)

Wednesday, January 18, 2017

InterContinental Bucharest appoints Lior Bebera as the new General Manager (GM), replacing Stefan Frank, after being more than four years in this position. According to a press release, in this role, Lior Bebera will be primarily responsible for managing the hotel operations and maintaining the service excellence that is synonymous with the InterContinental Brand, creating “great hotels guests love”. “I am a ...

Companies sold in 2016

Wednesday, January 11, 2017

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The sale of Profi store network, of the tourist complex Amfiteatru-Panoramic-Belvedere in Olimp seaside resort and the takeover of Covalact and Albalact factories by French company Lactalis were some of the most important transactions concluded in 2016. The Competition Council authorised 59 transactions in 2016, according to data supplied by the Competition Authority. Among these transactions we find the takeover of La Fantana shares by Oresa Ventures ...

High interest rates and fees, guarantees, bureaucracy - main hindrances in companies' accessing loans (survey)

Wednesday, January 11, 2017

High taxation, fiscal environment unpredictability and competition, as well as the access to finance remain the main problems the companies in Romania are confronted with, reads a Survey on the access to finance of non-financial companies in Romania, logged in December 2016, and carried by the National Bank of Romania (central bank, BNR). "Also found was an ...

Romania's Teraplast to expand to Serbia, plans 72 mln lei (15.9 mln euro) investment

Wednesday, January 11, 2017

Romanian plastic products maker Teraplast [BSE:TRP] said it has decided to expand in Serbia as part of plans to boost exports and intends to invest 72 million lei ($16.7 million/15.9 million euro) in 2017, seenews.com reads. Teraplast's board of directors decided to set up a limited liability company in Serbia with a total share capital of 10,000 euro ($10,494), Teraplast said in a filing to the Bucharest Stock Exchange, BVB, on ...

Romania to exempt firms doing R&D from profit tax, to redefine tax regime for microenterprises

Wednesday, January 11, 2017

The government approved on Friday amendments to Romania’s Fiscal Code, changing the taxation regime for microenterprises and offering certain fiscal facilities for companies that are focusing on research & development (R&D) activities, business-review.eu reports. According to the Emergency Government Ordinance rolled out today, the firms that are focusing exclusively on innovation and R&D will be exempted from the payment of the ...

Romanian Post appoints Andrei Stanescu as interim General Director

Wednesday, January 11, 2017

Following the nomination of Alexandru Petrescu for the position of Ministry of Economy, the Romanian Post received its interim General Director in Andrei Stanescu, business-review.eu reports.Previously, Stanescu was the head of the legal, control and human resources department within the Romanian Post. Petrescu stepped down from his position on January 4. Andrei Stanescu is also the head of ...

PPG Completes Acquisition of Romanian Paint and Coatings Manufacturer DEUTEK

Wednesday, January 11, 2017

PPG announced that it has completed its acquisition from the Emerging Europe Accession Fund (EEAF) of DEUTEK S.A., a leading Romanian paint and architectural coatings manufacturer that reported sales of 30 million euros in 2015, businesswire.com reads. Financial terms were not disclosed. DEUTEK manufactures and markets a large portfolio of professional and consumer paints, including the OSKAR and Danke! brands. Its products are sold in more than 120 ...

Number of newly set up companies with foreign capital dropped by 8.5 pct in first 11 months

Wednesday, January 4, 2017

The number of companies with foreign capital newly set up in the first 11 months of 2016 dropped by 8.6 pct as compared with the same period of last year, to 4,912 companies, read the data from the Romania's National Trade Register Office (ONRC). The overall value of the share capital of the 4,912 newly founded companies amounts to 35.5 million dollars. Most ...

Managers in construction and retail estimate a decrease of their sectors' activity

Wednesday, January 4, 2017

Managers in the construction, and retail sectors estimate a decrease of the economic activity in their sectors for the following three months, whereas in the processing industry and the services sector, a relative stability is expected, shows a press release of the National Institute of Statistics (INS)  "Within the short-term trend analysis from December 2016, managers from the manufacturing industry estimate for the following three months a ...

CFA Romania analysts optimistic about Romania's economic development in 2017

Wednesday, January 4, 2017

CFA Romania, an association of investment professionals, said on Tuesday, December27, the state of the country's economy is expected to improve next year after, in their view, worsening at present, seenews.com reads. Romania's macroeconomic confidence indicator increased slightly in November, up 0.6 points from the previous month to 65.6 points, mainly as a result of better economic conditions in 2017, CFA Romania data showed. The analysts' ...

IAR Brasov and MapN signed a contract regarding the restoration and upgrading of several 330L PUMA helicopters

Wednesday, January 4, 2017

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 The IAR Brasov company and the National Defence Ministry (MApN) have inked on Thursday a commercial contract envisaging the restoration and upgrading of several IAR 330L PUMA ...

Programmers in Romania to be exempt from paying income tax

Wednesday, January 4, 2017

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Employees whose activity includes creating computerprograms (CAEN codes 5821, 5829, 6201, 6202, 6209), will be exempt from paying income tax and tax on equivalent revenues, following the amendment of the order issued on 31 March 2015, business-review.eu informs. The measure was announced by the Ministry of Communication and the Informational Society (MCSI) and will enter force as soon as it is published in the Official Gazette of ...

Sale of Doncafe and Amigo producer dropped by 2.3 percent in Romania this year

Wednesday, January 4, 2017

 Amigo dropped by 2.3 percent year-on-year, to RON 212 million (EUR 47 million), on the back of a decrease in volumes and prices, business-review.eu reads. “The drop in sales in the local currency reflects a decrease of volumes and is caused primarily by the customs tax cuts on imports of green coffee, which reduced the cost of raw materials and allowed for products to become cheaper,” the company’s financial ...

Romania's Direct One gets anti-trust nod to take over UTI's Netcity Telecom

Wednesday, January 4, 2017

Romanian internet service and infrastructure provider Direct One said that the country's anti-trust body approved its takeover of Bucharest's underground fiber optic network operator Netcity Telecom, seenews.com reports. At the beginning of September, Direct One said it will acquire Netcity Telecom, part of Romanian group UTI, for an undisclosed sum. "We welcome the decision of the Competition Council on this transaction, based ...

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