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Deloitte study: M&A market in Romania reaches EUR 898 mln in Q3

Wednesday, October 11, 2017

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The M&A market in Romania has reached EUR 898 million in the third quarter of the year, according to public sources and disclosed transactions, according to an analysis performed by Deloitte Romania quoted by business-review.eu. Twenty-eight deals were announced in Q3, including those with undisclosed value, representing two deals a week on the average. Compared to the similar period last year, the value of the transactions has tripled in Q3 while their number grew by 20 ...

Sercin Giray is the new Bayer CFO in Bulgaria, Romania and Moldova

Wednesday, October 11, 2017

Sercin Giray was appointed Chief Financial Officer (CFO) of Bayer AG in Bulgaria, Romania and Moldova. She took over from Andreas Schremmer, the Romanian publication ‘Ziarul Financiar’ reported quoted by sofiaglobe.com In 1999, Sercin Giray started her career at Bayer’s accounting and finance department in Turkey, her native country. She was promoted to Head of Group Reporting in 2008. In 2010, she moved to Bayer AG’s headquarters in Leverkusen (Germany), ...

5.6 pct of all companies in Romania pay in time their dues to the state

Wednesday, October 11, 2017

The strong, financially stable businesses that pay in time their dues to the state and generate profit represent roughly 5.6 pct of all companies in Romania, most of them being microenterprises, found a study conducted by a commercial risk management company sent on ...

CFR's Chiper: We draw over 2.5bn lei from European funds by August

Wednesday, October 11, 2017

Rail operator CFR SA recorded in August an uptake rate of European funds of over 2.5 billion lei, due also to the signing of some new contracts and the allocation of the down payment for these, and at the end of the year an important amount will be settled at the European Commission, CFR SA General Manager Marius Chiper told Agerpres on Tuesday. "This year I can say that we excel in terms of uptake of European funds. We have an uptake rate of more than 2.5 billion lei, we are in full ...

Business evolution in 2017 report: 20 pct of Romanian companies expecting negative profits

Wednesday, October 11, 2017

According to the survey report “Business evolution in 2017” released this Tuesday by Valoria, in the second half of the year, Romanian companies have made significant adjustments to previously projected figures for turnover, profit, employee numbers, salary levels and investments for this year, business-review.eu informs. The percentage of companies expecting negative profits is now 20 percent compared to only 6 percent at the beginning of the year, while the ...

Romania's Dacia leads SeeNews ranking of biggest SEE companies

Wednesday, October 4, 2017

Romanian car maker Automobile Dacia, a unit of France's Renault, retained its position as the biggest company in Southeast Europe (SEE) in terms of total revenue for 2016, the SEE TOP 100 ranking released by news agency SeeNews on Tuesday showed. Automobile Dacia raised its revenue by 8% to 4.619 billion euro in 2016 and increased its net profit to 100.5 million euro from 99 million euro a year earlier, taking the leading position in the tenth ...

Study : automotive industry joins retail trade, IT as main engines of Romania's economy

Wednesday, October 4, 2017

The automotive industry is one of the main pillars of the Romanian economy, employing over 150,000 people and having contributed 47 percent of the country's exports in 2016, according to a specialist study released on Monday. From one year to another, the automotive industry enjoys strong profitability. In 2016, it recorded an impressive growth rate, 9 percent ...

More than 2,000 Bulgarian Companies Work in Romania

Wednesday, October 4, 2017

Over 2000 companies with Bulgarian capital work in Romania. Approximately the same number of Romanian companies operate in Bulgaria, reports Mediapool quoted by novinite .com.  Trade between Bulgaria and Romania amounts to EUR 3.8 billion in 2016, up 5.7% from the previous year. The balance in bilateral trade is positive for Bulgaria and amounts to EUR 256 million for 2016. This was made clear ...

Romania's antitrust body approves Teraplast takeover of Politub

Wednesday, October 4, 2017

Romania's anti-trust regulator has approved the takeover of plastic products manufacturer Politub by local peer Teraplast Group [BSE:TRP], Teraplast said quoted by seenews.com. Pursuant to this decision, Teraplast will buy 49.99% of Politub shares, in addition to an already owned 50%, thus gaining direct control 99.99% of the company, Teraplast said in a statement filed with the Bucharest Stock Exchange, BVB, on ...

Janssen Romania continues R&D investments in Romania

Wednesday, October 4, 2017

Janssen, the pharmaceuticals company part of Johnson&Johnson Romania, has invested EUR 1 million for R&D operations in the country, mainly for clinical studies in 2016 and company representatives say that the investment efforts will continue this year, business-review.eu informs. As part of its development efforts, the company also backs a hackathon that will take place in Romania in October, where start-ups can ...

H&M sales in Romania climb 14% in 9-mo FY 2017

Wednesday, October 4, 2017

The sales of Swedish fashion retailer Hennes & Mauritz (H&M) in Romania increased by an annual 14% to 1.7 billion Swedish crowns ($208.9 million/177.4 million euro) in the first nine months of the financial year started December 1, the company said on Thursday, seenews.com informs. In the local currency, H&M sales in Romania grew 12% over the review period, the company said in its nine-month financial report. H&M ...

Rustler Romania estimates turnover of over EUR 2.5 mln in 2017

Wednesday, October 4, 2017

The supplier of real estate services Rustler Romania, the subsidiary of Rustler Group –Austria, estimates a turnover of over EUR 2.5 million in 2017, at the 5-year anniversary in Romania, business-review.eu informs. The company’s improved results are due mainly to the Property and Facility Management services for clients from office buildings class A and B sector, followed by the clients from ...

Number of companies in Romania estimating profit growth in 2017, down in last six months

Wednesday, October 4, 2017

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The number of companies active in Romania that expect a rise in profits has decreased in the last six months, from 21 pct, this year's spring, to merely 12 pct in September, according to the preliminary data of a specialist survey presented on Friday by Elena Badea, the Managing Director of Valoria research company, at the Business Challenge 2017 conference. The autumn report on the evolution of businesses in Romania in ...

Alro negotiates with big automobile and aircraft manufacturers for aluminium deliveries

Wednesday, October 4, 2017

Alro, the largest aluminium producer in continental Europe (excluding Russia and Scandinavia) is negotiating with big automobile and aircraft manufacturers for aluminium deliveries, said Gheorghe Dobra, the general manager of Alro, at a meeting with the press on Thursday. Alro Slatina announced in August 2016 that Airbus, the most important European aircraft manufacturer selected Also as aluminium supplier and  signed an accord for several ...

Gov't approved a memorandum for the recovery of the Romanian Post National Company's activity

Wednesday, October 4, 2017

 The Government approved on Wednesday a five-year memorandum for the recovery of the Romanian Post National Company's activity, among the measures included in the strategic plan ranging the increase of revenues through the diversification of products and services and the efficient use of the annual funds received from the Universal Postal ...

Cristina Ienciu (CITR): approximately 3,000 companies  in Romania are on the verge of insolvency

Wednesday, October 4, 2017

Approximately 660,000 companies were active in Romania at the end of 2015 out of which almost 20,000 have assets of over 1 million euro,but almost 3,000 companies at national level are on the verge of insolvency, stated on Wednesday Cristina Ienciu, head of legal at CITR during the conference ‘ Recovery vs.liquidation’. The salvage of the companies in insolvency, important factor for the sustainable growth’ organised by ...

PwC Romania: 72% of the companies say they need at least 6 months for implementation the split VAT

Wednesday, September 27, 2017

Almost three quarters of the companies which take part in a survey made by PwC Romania stated that they estimate they need a term of at least six months to implement the split payment of VAT and less than 2% consider they will manage to do it before 1 January 2018. ‘Taking into consideration the need of the private companies for a longer time to adapt and a possible risk of infringement of the community legislation as regards VAT, as the ...

The minister for Business Environment wants to start the procedures for the companies to get on the international market in 2018

Wednesday, September 27, 2017

The companies which want to benefit from non-refundable funds through the programme of getting on the international market in 2018 could apply starting with November this year on the specific form stated Sterica Fudulea, state secretary in the ministry for the business environment, commerce and entrepreneurship (MIMACA). According to him, there were signed 37 non-refundable financial agreements  in the 2017 edition of the ...

China's WH Group to Buy Romanian Meat Producers in Europe Push

Wednesday, September 27, 2017

The world's largest pork supplier WH Group Ltd said on Tuesday its Smithfield Foods Inc unit would buy two packaged meats manufacturers in Romania, further expanding the Chinese group's operations in Europe, nytimes.com reads quoting Reuters source. U.S.-based Smithfield has agreed to buy a 100 percent stake in Elit SRL and Vericom SRL for an undisclosed sum, the Chinese pork producer said in a filing to the Hong Kong ...

Vasilescu (BNR):  Scarce investment is the great suffering of Romania

Wednesday, September 27, 2017

 Scarce investment is the great suffering of Romania, and although the country's officials want to set up a fund to invest, I feel like things are not going that way, Adrian Vasilescu, strategy consultant with the National Bank of Romania (BNR), told a conference on Monday organised by Bursa ...

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