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Bitdefender signs accord with American router producer Netgear

Wednesday, January 17, 2018

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The software producer Bitdefender signed a technology licence partnership with the American equipment producer for Netgear networks, which will include in its products security solutions for smart devices, developed in Romania under the name of Netgear Armor. The partnership will offer additional security to WiFi router users, preventing cyber attacks and protecting sensitive data from attackers, a company press release shows. The main benefit of ...

Saxo Bank analysis: Romania, the ideal place for a fintech revolution

Wednesday, January 17, 2018

Fintech will produce a revolution and is leaving the door open to real challenges, but also with opportunities for those who embrace it, Laurentiu Nedelcu, CEE manager at Saxo Bank said in a recent analysis. The spread of new technologies – both in the hardware sector as well as in the development of customer experience is changing forever the way in which financial services are offered. The innovation based on technology ...

POPOVICI NITU STOICA & ASOCIATII promotes three lawyers to partnership

Wednesday, January 17, 2018

Dispute resolution lawyer Raluca Petrescu, Competition lawyer Mihaela Ion and Real Estate lawyer Ioana Sampek have joined the PNSA partnership as of 1 January 2018. Raluca Petrescu became Partner in the International Arbitration & Complex Claims Practice Group, with over 15 years of experience, out of which more than 10 years with the Firm. Raluca completed a double education in Romanian and French law, with the Faculty of Law, University of ...

Register Office: 73,771 companies struck off Jan - Nov 2017, down 26.79 pct YoY

Wednesday, January 17, 2018

A number of 73,771 companies have been struck off register between Jan - November 2017, by 26.79 percent down from 100,764 in the same period of the year before, shows National Trade Register Office statistical data.Bucharest tops the list with most deregistrations - 12,044 (by 36.58 pct less YoY), followed by Iasi County - 3,345 (- 22.34 pct YOY); Cluj County - 3.232 (- 42.56 pct YoY); and Dolj County - 3,106 (- 0.67 pct YoY).Conversely, the counties ...

Romanian Post borrows 30 mln lei from EximBank for current activity

Wednesday, January 17, 2018

The Romanian Post (CNPR), the largest postal operator in Romania, will receive a loan of 30 million lei from EximBank for carrying out the current activity, the postal company announced in a press release press issued on Monday .The two-year loan is the third agreement that the national postal operator will conclude with EximBank, after the bank in 2013 extended a loan worth 100 million lei for partial coverage of the outstanding amounts from the cash collection ...

Dacia carmaker's 2017 sales top 655,000 units

Wednesday, January 17, 2018

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Sales by Romania's flagship car maker Dacia stood at over 655,000 units in 2017, by 12.2 pct more than in the previous year, with France being the most important outlet with an uptake of 120,000 units, the company said in a Monday release. The carmaker maintained its position as Romania's market leader with a share of nearly 29 pct and 43,262 vehicles sold last year, up 11.3 pct as compared to 2016.According to the cited source, 47 pct of the ...

Airbus's big plan to revive the Romanian rotorcraft sector

Wednesday, January 17, 2018

If you build it, they will come. Airbus Helicopters might have been following the famous advice of the film Field of Dreamswhen it invested almost €52 million ($62 million) in a factory in Romania in November 2015, Flightglobal reads. Two years on, the Brasov plant is ready to produce its first H215M, an iteration of the venerable Super Puma. All that is missing is a kick-off order from Bucharest. The ...

Ioana Mihailescu appointed Vodafone Romania’s Customer Operations Director

Wednesday, January 17, 2018

Ioana Mihailescu , currently Director Channel Strategy & Customer Value Management within Vodafone  Romania’s Consumer Business Unit, will take over the role of Customer Operations Director as of January 22, 2018, replacing Ana Alexe, who has been appointed Vodafone Hutchinson Australia’s Customer Operations Director, based in Sydney, romaniajournal.ro informs. According to a press release, in her new ...

KeysFin Business Barometer: 2018, a year of uncertainty

Wednesday, January 17, 2018

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The economy continues to grow, but the imbalances are sharpening. Romanian managers are moderately optimistic as concerns grow on the real economic evolution this year. The inflation, the depreciation of the local currency and the uncertainties related to the fiscal framework are the main risks highlighted by the businessmen as per the eighth edition of the bi-annual barometer on the economic outlook, a release posted on the website reads quotd by ...

Hungary's OTP increases capital at Romanian unit

Wednesday, January 17, 2018

OTP, Hungary’s largest bank by assets, has increased capital at its Romanian subsidiary, the bank announced on Tuesday, portfolio.hu informs.  OTP Bank Plc. said on the website of the Budapest Stock Exchange (BSE) that the Romanian Court of Registration registered a capital increase at OTP Bank Romania SA. Accordingly, the registered capital of the Romanian subsidiary of OTP Bank was increased to RON 1,379,252,880 from RON ...

Orange Romania wins contract from Chamber of Deputies

Wednesday, January 17, 2018

Orange Romania was awarded a three-year framework deal by Romania's Chamber of Deputies for the provision of mobile telephony services for national, international and roaming communications, writes local paper Ziarul Financiar citing an announcement published in the Electronic Public Procurement System (SEAP). Orange won this contract at the initially estimated value of RON 2.442 million without VAT (over EUR 530,000) following an open tender whose ...

OptiGroup acquires packaging businesses in Romania and Finland

Wednesday, January 17, 2018

OptiGroup has acquired businesses in Romania and Finland to expand its operations of the industrial and safety solutions segment, Packaging Business Review reports. Proxima Tapes and Proxima Comserv provide industrial packaging sales and services to the customers in the North Western region of Romania. The acquired businesses will support OptiGroup's existing packaging business in Romania. OptiGroup has ...

Misu Negritoiu joins EY Romania as senior advisor

Wednesday, January 17, 2018

The former head of the Financial Supervision Authority (ASF), Misu Negritoiu, has been recruited by EY Romania, the professional services firm, business-review.eu informs. In his role of senior advisor, Negritoiu will provide consultancy services for transactions and ...

Review 2017: the number of companies and private investments increased as well as the number of insolvencies

Wednesday, January 10, 2018

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The number of companies with Romanian capital as well as foreign capital set up this year increased as well as the investments, but a similar evolution was  met with insolvencies according to the data of the National Office of the Trade Register (ONRC).The number of companies,individual entreprises  and PFA set up in the ...

Romaero signed a contract of over 60 million lei with the Romanian Air Forces for works and delivery of equipment

Wednesday, January 10, 2018

Romaero Bucuresti, state-run company specialised in maintenance and repair of civil and military planes of passengers transport or cargo signed with the Romanian Air Forces a contract worth over 60 million lei, namely over 130% of the whole turn over made by the company in 2016. ‘The  contract will develop in the first part of the year and deals with delivery of equipment and works for the increase of the availability of the air military ...

The administration of the Maritime Harbours Constanta estimates a net profit of 50.1 million lei for last year

Wednesday, January 10, 2018

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The National Company ‘ the Administration of the Maritime Ports ‘ Constanta under the authority of the ministry of transport estimates a net profit of 50.1 million lei for last year, at total income of 330.04 million lei, shows the draft for the income and expenses budget rectified for 2017, published in debate on Wednesday by the ministry. Total expenses are budgeted at 266.5 million lei out of which expenses with personnel are estimated ...

Property Fund gives up trial against Romanian Post

Wednesday, January 10, 2018

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Property Fund gave up the court action against the Romanian Post National Company, which had contested the replacement of the last three members of the Administration Board appointed according to the law on corporate rule, the company announced on Monday. Property Fund sued the Romanian Post in October because it had replaced three members of the Administration Board, but the Romanian Post won the case with its minority ...

Competition Council fines 12 companies on the market of car batteries by over EUR 730,000

Wednesday, January 10, 2018

The Competition Council has fined 12 companies on the market for the production, distribution and commercialization of car batteries (1 producer and 11 distributors) by RON 3,291,715 (about EUR 731,492), the competition authority has announced on Tuesday, romaniajournal.ro reads. The Council says that it found out that anticompetitive agreements were concluded to establish the resale price of the products during 2008-2013, between the producer ROMBAT ...

PHI Group to build industrial park, clean energy power plant and greenhouses in Transylvania

Wednesday, January 10, 2018

PHI Group, a US company focused on mergers and acquisitions and investments in natural resources, energy, agriculture and special situations, has signed a Memorandum of Understanding (MOU) with a Romanian company to build an industrial park, clean energy power plant and greenhouse facilities for organic agriculture and medicinal plants in Transylvania, a press release informs, romaniajournal.ro reports. “We are excited to work ...

Damen Shipyards Galati to build a marine aggregate dredger for CEMEX UK Marine

Wednesday, January 10, 2018

Romania’s Damen Shipyards Galati, the largest of Damen Shipyards Group’s 32 shipyards, will build marine aggregate dredger – MAD for CEMEX UK Marine Limited, a press release informs, romaniajournal.ro reads. The vessel built in Romania is designed to extract sand and gravel from the sea bed up to depths of 55 metres, including in the challenging conditions experienced in the North Sea. With a specific lock ...

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