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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 ...

Three Romanian companies included in the Deloitte Technology Fast 500 EMEA

Wednesday, January 4, 2017

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Romania has three companies included in the Deloitte Technology Fast 500 EMEA ranking of the fastest-growing technology companies in Europe, the Middle East, and Africa (EMEA), Deloitte said in ...

Credit Europe Bank Romania gets 40 mln euro EBRD loan to support SMEs

Wednesday, January 4, 2017

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The European Bank for Reconstruction and Development (EBRD) said on Tuesday it is lending 40 million euro ($41.5 million) in three tranches to Credit Europe Bank Romania to continue supporting local small businesses, seenews.com reports. Credit Europe Bank provides banking products and services to individuals, small and medium-sized businesses and large companies in Romania. It is strategically focused on growing its business with micro, small and ...

Vast Resources’ revenue up to USD 14.1 mln during April–September 2016

Wednesday, January 4, 2017

Mining company Vast Resources announces has recorded a 1,310 percent increase in revenue to USD 14.1 million, compared to USD 1.0 millionl last year, business-review.eu reads. The company with operations in Romania and Zimbabwe had for 2016 the objectives to expand and improve its operations. For Romania, the primary objective was to increase efficiency in Manaila Polymetallic Mine. The Moldova ...

Romania could record the weakest year of the last 20 as regards the newly set up companies with foreign capital

Wednesday, December 21, 2016

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Romania could record this year the weakest number of the companies with foreign capital newly set up over the last 20 years, after the first ten months there were registered over 10% fewer as compared to the same period of the previous year, say the data of the National Office of the Trade Registrar (ONRC). At the same time, this year the number of natural and judicial persons registered was dropping, while the insolvencies and the activity suspension ...

Romania, represented at OECD event launching new Small Business Act assessment cycle

Wednesday, December 21, 2016

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Secretary of State for the coordination of the relations with the Organisation for Economic Co-operation and Development (OECD) and development policies for domestic capital with the PM's Chancellery Sorana Baciu participated in Paris on Friday in the launching of the new Small Business Act (SBA) assessment cycle of SMEs development policies in the Western Balkans and ...

Romanian DIY retailer Dedeman to open 12 mln euro store in Bacau

Wednesday, December 21, 2016

Romanian do-it-yourself retailer Dedeman said it will open on December 21 its second store in Bacau, in the eastern part of the country, following an investment of 12 million euro ($12.7 million), seenews.com reads. The store has an area of more than 15,000 sq m and employs some 216, the company said in a statement. "Because we want our products and services to be accessible to a larger number of customers, we focused on developing our network of ...

AFI Europe Romania leases 6,000 sqm in AFI Park 4&5

Wednesday, December 21, 2016

Real estate developer AFI Europe Romania has signed several new lease contracts for over 6,000 sqm of office space in AFI Park 4&5, the company has announced quoted by business-review.eu. The new tenants are IT&BPO provider Hexaware Technologies which is a new entry on the local market and American companies Asentinel and BullGuard software specializing in consumer security. Endava Romania has also secured additional space to support its ...

Romania's MedLife raises 230 mln lei (50.8 mln euro) in IPO

Wednesday, December 21, 2016

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Romanian privately-owned medical services provider MedLife raised 230 million lei ($53.3 million/50.8 million euro) through a fully subscribed initial public offering (IPO) of a 44% stake and will start trading on the Bucharest Stock Exchange  (BVB) on December 21, the bourse said on Friday, quoted by seenews.com.. MedLife launched the IPO on the BVB on December 7, hoping to raise up to 308 million lei. The company offered ...

Lactalis to control almost a quarter of Romanian dairy market

Wednesday, December 21, 2016

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French group Lactalis is in position to control 23 percent of the local dairy market, estimated at EUR 800 million, business-review.eu reads. This year Lactalis purchased two of its biggest competitors on the Romanian market – Albalact and Covalact. After completing the first transaction, the company will reach an EUR 182.3 turnover (RON 820 million), Profit.ro reports. The company ...

Immofinanz reports 3 pct rental income increase in H1 for Romanian properties

Wednesday, December 21, 2016

Austrian real estate company Immofinanz has seen its rental income increase by 2.9 percent in the first half of the abbreviated 2016 financial year, totaling EUR 22.9 million, according to company data quoted by business-review.eu. This represents a 14.9 percent share of the group’s total rental income, according to company data. The properties that ...

Five dairy producers, fined for fake bids

Wednesday, December 14, 2016

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The Competition Council sanctioned five companies producers of dairy products with fines worth 8.6 milion lei for the faking of bids, the highest fine being taken by Albalact, 5 million lei respectively,a press release of the institution says. ‘The fined companies are: Albalact SA, almost 5 million lei, Simultan SRL – 2.2 million lei, Dorna SA -1.02 million lei, Lacta SA – 261,306 lei and Deltalact SA – 139,860lei’ the ...

Summit of Integrity for Prosperity:two thirds of the companies consider that they have an ethical code (survey)

Wednesday, December 14, 2016

Two thirds of the companies in the Romanian business environment consider that they have an Ethical Code and approximately half say that they have procedures for the insurance of transparency in the decision-making process, shows a research presented on Friday at the Summit for Integrity for Prosperity, organised by Transparency International Romania. The survey where 300 companies in the Romanian business environment was made to identify values which ...

Two in three companies in Romania won’t make new hirings in Q1 2017, says study

Wednesday, December 14, 2016

In the first quarter of 2017, 66 percent of the Romanian employers don’t anticipate any change in the employees number, while 19 percent of the companies’ representatives expect increases in the number of employees, according to the study of the HR consultancy Manpower, published on Tuesday and quoted by business-review.eu. The workforce demand is higher in Western region, which includes the developed counties, such as Timis and Arad, while Oltenia is the region ...

GoodMills to Close Titan Baking Factory in Romania

Wednesday, December 14, 2016

Austrian group GoodMills will close the Titan baking factory from Pantelimon, Ilfov county, Romania, worldbakers.com reads. Some of the assets have already been sold to a local company, Bake Expert, who also took over  the bread and pasty stores of the group this year. Thus, having given up the retail business, the Austrians also give up the local production of bread and remain only with the milling business in ...

Companies choose to invest a large amount of their budget in business events

Wednesday, December 14, 2016

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Business events are important for the image of the company and contribute to your company’s development. Knowing that PRIA Conferences is acting like an extension of your marketing, sales and development departments. In the press release sent to ACTMedia, the company says that events represent perfect opportunities to keep your company’s reputation, or to grow it. Also events are good for increasing sales. Through events you can launch a ...

Coface: Romania ranks second in region for lowest ratio of companies per 1000 inhabitants

Wednesday, December 14, 2016

Romania ranks second in Central and Eastern Europe for the lowest ratio of number of companies per 1000 inhabitants, according to a study carried out by Coface Romania regarding the maturity level of the Romanian business environment. "After Serbia, Romania records the lowest ratio of companies per 1000 inhabitants in Central and European Europe, ...

Number of companies to go bankrupt during 2016 will increase to approximately 160,000

Wednesday, December 14, 2016

The number of companies to go bankrupt during 2016 will increase to approximately 160,000, on the rise by 6.5 pct as compared to last year, reads a press release of Coface, sent on ...

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