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Oltchim expected to be split up for sale

Wednesday, September 21, 2016

Following numerous rescue and privatization attempts,  and just as many disappointments, it now appears that at last the Romanian state owned chemicals company Oltchim SA will now be sold off piece by piece, plasticsnews.com reports. After years of waiting, Romania’s biggest chemicals operation, 54.8 percent state owned and bankrupt since 2013, is now being divided up into nine separate business units for sale to private sector ...

UPC Romania to integrate Netflix in its media-boxes as part of global deal

Wednesday, September 21, 2016

UPC Romania will distribute content from Netflix to its local customers, as part of a global deal that was inked by Liberty Global and the video streaming service, business-review.eu informs. The roll out of the Netflix app on the media-boxes of Liberty Global, the owner of UPC Romania, will begin immediately in the Netherlands. The integration should be completed by the end of next year in all the 30 countries in which the company has ...

UK-based Endava merges operations with ISDC active in Bulgaria, Romania

Wednesday, September 21, 2016

UK-based IT solutions provider Endava, which has delivery offices in five SEE countries, said on Thursday it merged operations with the Netherlands-based ISDC, which is doing business in Bulgaria and Romania, seenews.com informs. The merger will further underpin Endava’s ability to serve an increasingly global client base that includes some of the world’s leading brands across finance, insurance, telecommunications, media, technology, ...

SAP Romania to hire 100 specialists for three centers across the country

Wednesday, September 21, 2016

SAP Romania, the provider of software, will hire 100 specialists for its centers in Bucharest, Cluj-Napoca and Timisoara until the end of the year. The company currently has 400 employees in Romania. „Our plan is to finish the year 2016 with 500 employees. We’ll make recruitments in Bucharest, Cluj and Timisoara. The labor market competition is sharp. Knowledge of more ...

52 million euros for Airbus Helicopters 's new factory in Romania

Wednesday, September 14, 2016

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Airbus Helicopters has opened a new factory in Romania on an investment worth 52 million euros for the manufacturing of the twin-engine H215 helicopter the first of which is expected out of the assembly line in 2018. The Airbus Helicopters Industries factory is located at Ghimbav, close to the central city of Brasov, covering 10,000 square metres. The H215 hecliopter is is a heavy-weight, twin-engine helicopter with outstanding performance, known for its high ...

FDI into Romania rise 19% y/y in Jan-July

Wednesday, September 14, 2016

Foreign direct investments (FDI) into Romania increased 19% on the year to 2.339 billion euro ($2.62 billion) for the first seven months of 2016, the country's central bank, BNR, said on Tuesday, quoted by seenews.com. Out of the total, equity investment amounted to 2.060 billion euro and inter-company lending recorded a net value of 279 million euro, the BNR said in a statement. Last year, FDI into Romania totalled 3.03 billion euro, up ...

AFI Europe Romania to start the development of AFI TECH PARK Office project

Wednesday, September 14, 2016

AFI Europe Romania, part of the international holding AFI Europe, will start the development of AFI TECH PARK, a 50,000 sqm business park situated close to the Romanian Parliament, business-review.eu informs. The first phase of the project, AFI TECH PARK 1, is scheduled to be delivered in the first quarter of 2018 and will offer 20,000 sqm of office spaces. “After the successful completion of AFI Park 1-5, AFI Europe Romania is targeting a ...

Motivi brand opens the 18th store in Romania, following EUR 140,000 investment

Wednesday, September 14, 2016

The Italian brand Motivi, part of the fashion retailer Miroglio Fashion SRL, has opened a new store in Bucharest, within ParkLake mall, business-review.eu informs. The new store was opened following a EUR 140,000 investment.   „Romania is one of the countries in which we want to consolidate our position. The interest of Romanian women in fashion is similar to these in Italy and this is why we boosted the ...

MFE, MAE offer EUR 30 million to entrepreneurs from Romanian diaspora

Wednesday, September 14, 2016

The Ministries of European Funds (MFE), together withMinistry of Foreign Affairs (MAE) are opening for public debate the guide of the Diaspora Start-Up program, business-review.eu reports. The aim of the program, implemented via the Human Capital Operational Program (POCU), is to boost entrepreneurshipamong entrepreneurs in the Romanian diaspora and those who returned recently. The entrepreneurship ...

Romanian private sector wage growth at 3.7 pct in 2016, says PwC study

Wednesday, September 14, 2016

Wages in the private sector have increased by 3.7 percent on average in 2016, a slightly lower gain compared to the growth planned by companies (3.9 percent), according to this year’s edition of the salary and benefits PayWell Romania study made by professional services firm PwC, quoted by business-review.eu. The highest average salary increases were registered in the retail (4.3 percent) and FMCG (5.8 percent) sectors, while gains belowe the ...

Gov't: 900 million lei for SMEs to develop their investments

Wednesday, September 14, 2016

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 Small and medium-sized enterprises (SMEs) will be supported to develop their investments under a new multiannual state-aid scheme, worth 900 million lei, informs a Government release. The Government adopted on ...

Cristian Popescu becomes managing director of SAP Romania

Wednesday, September 14, 2016

SAP Romania, the subsidiary of SAP SE, the provider of software solutions for business and technology, has appointed Cristian Popescu as the new managing director of its local operations, business-review.eu reports. Popescu had the role of country sales director within Fujitsu Romania in the past two years. Previously, he was part of the Cisco team, having different positions and in 2010 be became the general director of the ...

Romania’s BRD Sogelease H1 financing volume doubles to 73.6 mln euro

Wednesday, September 14, 2016

Romania’s BRD Sogelease said on Wednesday that its first-half financing volume doubled year-on-year, reaching 73.6 million euro ($82.7 million), seenews.com reports. BRD Sogelease's market share increased by one percentage point on the year, reaching 7.7% for the first half of 2016, the company said in a press release. The motor vehicles sector remained the main contributor to growth with a share of 70% of total financing ...

EY Romania hires 80 junior employees and 30 interns to reach 700 staff

Wednesday, September 14, 2016

EY Romania has hired 80 junior employees and 30 interns, reaching, for the first time, 700 staff. The newly-hired staff will work in the company’s offices in Bucharest, Cluj-Napoca, Iasi and Timisoara, business-review.eu reports. Over half of the new employees will join the Financial audit department and the rest will join the company’s Financial andLegal Assistance and Business ...

Postal deliveries sent via post offices in and out of Romania in 2015 was up by 5 percent compared to 2014

Wednesday, September 14, 2016

The number of postal deliveries sent via post offices in and out of Romania in 2015 was 657 million, up by 5 percent compared to the previous year and the total value of postal services amounted to 2.4 billion lei, 4.43 percent higher compared to 2014, reveals the Report of statistical data on the postal services, published on Wednesday by the National Authority for Management and Regulations in Communications of Romania (ANCOM). Generally, from the total ...

Direct One to acquire Netcity Telecom

Wednesday, September 7, 2016

Direct One S.A. is due to acquire control of Netcity Telecom, the operator of an underground fiber optic network in Bucharest, following the signing of a sale and purchase agreement with UTI Netcity Investment BV and UTI Grup SA, entities which own 100% of the telecom operator’s equity, a statement sent to ACTMedia reads. In this transaction, all of the target’s shares will be acquired by Direct One, an independent and neutral provider of ...

Constanta Shipyard, net profit rising 20 times in first semester

Wednesday, September 7, 2016

Constanta Shipyard registered a net profit of 12.9 million lei in the first semester of the year, on the rise by 20 times compared to the same period of 2016, according to a report published by Bucharest Stock Exchange (BVB). “Of all investments of over 5 million euros approved for 2016, investments of 3,500,284 lei consisting of intermediate gates for dry construction dock, anti pollution barges, Dynajet washing installations, welding sources, ...

French retailer Tati will enter Romanian market and opens the first shop in Veranda Mall

Wednesday, September 7, 2016

The French fashion brand Tati will open the first shop in Romania at Veranda Mall, at the end of the year. The shop will have an area of 1,700 sq. M and will sell clothes, beauty products and household items. Tati is brought to Romania by Peeraj group, one of the most powerful fashion franchise at local level. “The opening of the first Tati shop in Romania in Veranda Mall represents a strategic movement of our group to find the ideal platforms ...

Gold Plast: 30 million euro investments in Topoloveni factory

Wednesday, September 7, 2016

Gold Plast, the disposable dish producer invested 30 million euros in 10 years in Topoloveni factory, reaching an annual production capacity of 800 million pieces sold in 39 countries. Topoloveni factory, opened in 2006 and started its activity with 10 machines and 35 workers. Now there are 600 employees producing over 3,000 items in more than 800 million units /year, which the group sells in 39 countries, the most important export markets being Italy, ...

Mareea, the second tourism agency in Romania which announces its insolvency in the middle of holiday season

Wednesday, September 7, 2016

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The Mareea tourism agency announced that starting with Saturday is in insolvency and in the impossibility to honour their commitments. The Mareea touroperator started a crisis cell to answer their tourists and partners affected by the starting of the insolvency procedure and reorganisation to manage a part of the bookings starting with 3 and 4 September. ‘Starting with 04.09.2016 we will not be able to honour any of the ...

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