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Almost 30 per cent of SMEs in Romania have access to high-speed Internet

Wednesday, May 4, 2016

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Almost 30 per cent of small- and medium-sized enterprises (SMEs) in Romania have access to high-speed Internet (over 30Mbps), higher than the average of the new member states of the EU (NMS13 - New Members States), reveals the Digital Economy Lab 2016 (DELab) report published recently. According to statistics, in Romania 9 per cent of SMEs do not have access ...

Ursus and Timisoreana will be sold. What will happen to the two brands

Wednesday, May 4, 2016

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AB InBev offered to sell the brands SAB Miller from Central and Eastern Europe, including Pilsner Urquell before the EC decision to approve the transaction evaluated at over 100 billion dollars. Shares are evaluated at 5 billion dollars, according to Exane BNP Paribas analysts who estimate they are worth 2.3 billion dollars from sales and 450 million dollars as incomes before taxes for SAB Miller, The Wall Street Journal ...

There were 49,159 multinational enterprise groups, 5,325 all resident in Romania in 2014

Wednesday, May 4, 2016

In Romania, in 2014, the number of enterprise groups increased by 15.5 percent from 2013, to 51,484, 5,325 of which were all-resident enterprise groups (10 percent of the total) and 46,159 multinational enterprise groups (90 percent), show data released on Friday by the National Institute of Statistics (INS). "In Romania, in 2014, 51,484 enterprise groups ...

Albalact closed 2015 with net profit of 12.63 million lei

Wednesday, May 4, 2016

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Albalact company group closed 2015 with a net profit of about 12.63 million lei, significantly higher than the net result of 2014, according to the consolidated IFRS financial report, approved by the General Assembly of Shareholders. In a press release, Albalact announces that its net incomes grew last year by 8.9% to 444.02 million lei, from 408.12 million lei in 2014. 'We are glad we have succeeded in following the strategy ...

CEO Bitdefender: Only 4-6 jobs covered out of 10 jobs opened in software industry

Wednesday, May 4, 2016

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The deficit of specialists in the IT industry, worsened by the migration of good IT specialists in the West limits the large potential Romania has in the export of data services reaching the situation in which only 4-6 are covered out of 10 jobs opened, said Florin Talpes, CEO Bitdefender. “The IT sector has grown by 10-15% in the last years. We are talking about export with high VAT. There are development models which show that the software ...

Enea to hire more development engineers in Romania

Wednesday, May 4, 2016

Enea is increasing its share of development engineers in Romania as part of its long-term strategy. The company said it is doing so due to the fact that the hourly cost of development in Romania is far lower than in Western Europe and the US. The strategy enables the company to combine substantial investments in its product portfolio with continued earnings growth. The company closed down its development function in France in 2015, ...

Orange Romania sheds 168,000 customers in Q1, revenues up

Wednesday, May 4, 2016

Orange Romania saw its number of customers plunge in Q1 but its revenues were up 6.5 percent year-on-year Q1 to EUR 235.5 million, telecompaper.com informs. At 31 March, Orange Romania had 10.009 million customers, down 168,000 from the end of 2015 and a decrease of 365,000 from the year-ago period. Of the total number of customers, 48.2 percent were postpaid and 51.8 percent were prepaid. Orange TV service registered 294,000 subscribers, an increase of 54.5 percent ...

Lycamobile Romania attracts 100,000 customers in first year

Wednesday, May 4, 2016

MNVO Lycamobile celebrated the first anniversary of its division in Romania. On the local market, Lycamobile has made significant progress, with its customer base increasing to 100,000 and its Lycamobile products being available in 64,000 outlets. Lycamobile said it will further support the development of its MVNO in Romania by investing in initiatives of marketing and sales until July. Lycamobile said it expects significant growth in Romania and ...

Over 50% of the impact companies are in difficulty

Wednesday, April 27, 2016

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Over 50% of the impact companies in the Romanian economy are in difficulty, Romania being in 2015 the first in Eastern Europe for the number of insolvencies for one thousand active companies, shows a study made by a specialised company for analysis and prognosis. Although the number of insolvency files dropped in the last three years, over 50% of the companies who get in insolvency reported a double loss and an increase of the level of indebtedness in ...

Orange takes over Groupama Banque to set up Orange Bank

Wednesday, April 27, 2016

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The French telecommunication operator Orange, also present in the Romanian market, signed a contract on Friday with the insurance group Groupama to take over its bank division Groupama Banque, which will change its name to Orange Bank by 2017, AFP informs. The accord was signed by the companies stipulates that Orange would take over 65% of Groupama Banque shares, while Groupama insurance group will keep the rest of 35% of shares to be renamed Orange Bank before the launch of ...

Major changes in customs legislation starting May

Wednesday, April 27, 2016

Companies doing import-export activities should be aware that a significant change in the customs legislation will be rolled out starting this May, business-review.eu inform. The new provisions will come into force around three years after the New Customs Code of the EU was adopted. Valentin Durigu, tax manager at the professional services firm KPMG Romania, explained during the Tax & Law event that the new legislation aims to streamline ...

Florentina Fasie is branch manager of MediHelp Romania’s new sales unit

Wednesday, April 27, 2016

Private health insurance provider MediHelp Romania has opened a  new concept  sales branch in Bucharest, with Florentina Fasie taking the lead of the unit, business-review.eu reports. In her new position, Florentina Fasie will be responsible with the strategic client portfolio development at a national level and with the coordination and expansion of the direct sales and the telesales teams to reach sales targets. She ...

Astaldi joint venture awarded $110m Romanian motorway

Wednesday, April 27, 2016

A joint venture between Italy’s Astaldi and Germany’s Max Bogl has been awarded a contract for the construction of a motorway from Brasov in northwest Romania to Oradea in the centre. Each firm owns a 48.5% stake in the scheme, and Romanian designer Consitrans has the remaining 3%, globalconstructionreview.com informs.The client is the National Company of Motorways and National Roads of Romania; the works are 75% financed with ...

Four retail companies reign over the Romanian market

Wednesday, April 27, 2016

Kaufland Romania, Carrefour Romania, Metro and Auchan Romania control over half of Romania’s retail market, together making up 60 percent of it, according to an analysis from ICAP Romania, cited by business-review.eu. The biggest player on the retail market, Kaufland Romania (23 percent market share), registered a turnover of RON 8 billion at the end of 2014. Carrefour Romania (13 percent market share), came in second with a turnover of RON 4.6 ...

Romania expects new Telekom CEO to take daring actions

Wednesday, April 27, 2016

Romania's minister of Communications Marius  said the Romanian state, which owns a stake of 46 percent in Telekom Romania's Telekom Romania Communications fixed unit (former Romtelecom), is expecting 'daring actions' from the newly appointed ...

Wienerberger Romania buys bricks plant in Buzau

Wednesday, April 27, 2016

Bricks manufacturer Wienerberger Romania has taken over the bricks production business of Search Chemicals for an undisclosed sum. According to business-review.eu, the transactions included the firm’s assets and a clay quarry. The bricks plant in Buzau was controlled Turkish businessman Omer Susli. The factory had entered conservation mode in 2011 and restarted operations in 2014 at reduced capacity. Wienerberger said it ...

Romania, fourth in the region as regards the mergers and acquisitions market in 2015

Wednesday, April 20, 2016

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Romania was last year the fourth in the region as regards the mergers and acquisitions market with a total estimated value of 3.65 billion dollars, up by 22.4% against the previous year, the study EU CSE M&A Barometer 2015 shows. The first place was taken by Turkey with an estimated value of 10.8 billion dollars, followed by Poland with 7.6 billion dollars and the Czech Republic with 7,2 billion dollars. In Romania, the most ...

The Romanian employees prefer leaders who know how to guide them and give them feedback

Wednesday, April 20, 2016

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According to an analysis made by the training company Ascendis, made on a sample of 500 employees who took part in the courses of professional development, the capacity to guide offered by the leaders of the organisations of Romania is the first in the top of preferences the employees have when they make the portrait of the ideal boss. Thus, the Romanian employees appreciate most the ability of the bosses to offer feedback and to help them to ...

MedLife takes over dental clinics group Dent Estet, plans further acquisitions in next 18 months

Wednesday, April 20, 2016

Private healthcare services provider MedLife said Tuesday it has bought a majority stake in Romanian dental clinics group Dent Estet, for an undisclosed sum, business-review.eu says. Mihai Marcu, president of MedLife’s board of administration, said the Dent Estet was one of the niched businesses in Romania which had a growth strategy right from the start. “In the next period we want to extend the Dent Estet group by ...

Ministry of Economy will not privatize any company this year

Wednesday, April 20, 2016

The Ministry of Economy, which has in its portfolio state-owned firms in the mining, weapons, energy, industry and tourism sector, doesn’t plan to privatize any companies this year, according to Sorana Baciu, secretary of state at the Ministry of Economy, quoted by business-review.eu. „This year we are not starting any privatizations. First of all, we want to have professional and strong management in the state-owned companies. We have to ...

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