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Power International Holding and Al-Faisal Holding from Qatar interested to invest in Romania

Wednesday, September 27, 2017

The CEO of Qatar company Power International Holding, Moutaz Al-Khayyat, said in a meeting with the Romanian minister of business environment, Ilan Laufer, that he intends to start an investment in Romania, following the possibility to get as co-investor the biggest investments fund from his country through Qatar Investment Authority, business-review.eu informs. According to a release, during the arrival flight in Romania from business visits in Hong ...

Deloitte Survey: 95 pct of multinational groups’ representatives believe they will be more exposed to tax controls

Wednesday, September 27, 2017

The representatives of the multinational companies present in Romania (95 pct) consider they will be more prone to tax inspections in the future, following the changes brought by the tax base and the artificial transfer of profits to another state (Base Erosion and Profit Shifting - BEPS), reveals an online survey carried out by Deloitte Romania. According to the study, half of the business milieu representatives in Romania (50 pct) consider they will have ...

1 pct of Romanian companies generate over 60 percent of national turnover

Wednesday, September 27, 2017

The report on the distribution of world wealth, according to which 1 percent of the population holds more wealth than the remaining 99 percent is also replicated in the Romanian economy, according to a study by the CITR Group on the evolution of major Romanian companies, business-review.eu reads.  The report shows that Romania has around 640,000 companies, but only one percent of them, namely 6,521 companies generate over 60 percent of the ...

Novares opens first Romanian production plant

Wednesday, September 27, 2017

Novares has opened its first Romanian plant near Pitesti, producing automotive components using plastic injection techniques, days after rebranding from Mecaplast-Key,just-auto.com reads. The Group has established itself in Romania to be close to its main customer, Dacia to support Duster and Logan models, with 40 initial staff planned to rise to 80 by year-end with this number eventually rising to 130. Similar to ...

ONRC: number of newly-established companies increased 13.6 per cent January- August 2017

Wednesday, September 27, 2017

The number of newly-established companies running on foreign capital increased 12 per cent January through August this year, compared with the same period last year, up to 3,952 units, shows data released by the National Trade Register Office (ONRC). The 3,951 new companies had a share capital worth 34.1 million US dollars, up 14.4 per cent compared to January-August 2016. With respect to August 2017, the number of newly-established companies ...

DIY retailer Dedeman to open 10 mln euro store

Wednesday, September 27, 2017

Dedeman said on Friday it plans to open a new store following investment of 10 million euro ($11.9 million) in northwestern Romania on September 27. The store located in Turda, in Cluj county, spreads on an area of 11,500 sq m and employs some 162, the company said in a statement. "After 25 years of Dedeman's existence, we continue to invest in new stores located in smaller cities," company president Dragos Paval ...

Huawei Technologies to hire 50 more staff in Romania in 2017

Wednesday, September 27, 2017

Chinese company Huawei Technologies plans to hire 50 more employees in Romania by the end of 2017 and its total to 1,550, writes local paper Ziarul Financiar citing HR Director at Huawei Technologies Romania, Veronica Nanu. The Chinese giant operates locally through a global service  and a service support  which  alongside its administrative offices. Of the total number of existing employees, 700 ...

ArcelorMittal Galati invests EUR 15 million in new production line

Wednesday, September 27, 2017

Steel producer ArcelorMittal Galati, the largest steel mill in Romania, will invest EUR 15 million in a new production line, romania-insider.com reads. This will produce over 90,000 tons of steel rolls per year and cover more than half of the demand on the local market, which is estimated at some 150,000 tons per year. They will be used to make metal roofs, drainage systems or panels. Most metallic roof tile manufacturers in ...

German company buys Craiova-based IT firm with USD 10 mln

Wednesday, September 27, 2017

German company QuEST Global, specialized in IT, cars and transports, has fully acquired the Craiova-based firm IT SIX Global Services. The transaction’s value reached USD 10 million, according ...

Cypriot group Voici La Mode takes over the Marks & Spencer franchise for Romania

Wednesday, September 27, 2017

The Cypriot group Voici La Mode takes over the franchise for Romania of British retailer Marks & Spencer, including in its portfolio of three stores from Baneasa Shopping City, Plaza Romania and Bucuresti ...

ONRC: number of insolvent commercial companies and authorized individuals rose by 5.55 per cent in the first eight months of this year

Wednesday, September 27, 2017

The number of insolvent commercial companies and authorized individuals rose by 5.55 per cent in the first eight months of this year, compared to the similar period in 2016, to 5,758 units, according to the data posted on the National Trade Register Office (ONRC) website. Most of insolvent companies and authorized individuals are in Bucharest, 1,228 respectively, up by 10.33 per cent compared to January - August 2016. Most insolvency cases ...

Infinite IT Solutions opens a subsidiary in Romania

Wednesday, September 20, 2017

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Infinite IT Solutions, the provider of EDInet platform, is expanding its presence in Romania, the company informs in a press release sent to ACTMedia. After years of partnership-based activities, the company decided to open a subsidiary in Bucharest. By launching a new unit, Infinite sends a clear message that Romania is a strategic market in its global strategy.   Infinite has ...

Six in ten restaurants, bars, cafés in Romania go bankrupt in first 9 months since opening

Wednesday, September 20, 2017

Six in ten restaurants, bars and cafés in Romania go bankrupt in the first 9 months since opening and eight in ten in the first five years of operation, draws attention to the Romanian Hotels and Restaurants' Employers Association (HORA), based on studies conducted over time on this market segment. According to a HORA press release issued on Tuesday, the ...

Bilka buys Hidromecanica 2 for EUR 5.5 M; EUR 20 M investments planed for expanding production

Wednesday, September 20, 2017

100 percent Romanian company Bilka, specialized in the production and development of complete roof systems, has acquired the Hidromecanica 2 for EUR 5.5 million, after last year’s price was EUR 9 million, but the industrial platform did not have a buyer, romaniajournal.ro reports. Hidromecanica 2, covering 9.5 hectares, went bankrupt in 2015 after 135 years of ...

Endava opens new office in Eastern Romania

Wednesday, September 20, 2017

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British software provider Endava, one of the most popular employers in Romania, will open a new office in Iasi. The new space can host up to 200 people, with an additional capacity of up to 630 employees. The company opened its first office in Iasi ten years ago and has reached over 400 employees in this Eastern Romania city. Endava employs more than 2,300 people in Romania, in Cluj, Bucharest, Pitesti, Iasi, Cluj and ...

Regina Maria to open 15 mln euro hospital in Cluj

Wednesday, September 20, 2017

Romanian private healthcare network Regina Maria said it is investing 15 million euro ($17.9 million) in a new hospital in Romania's nortwestern city of Cluj, seenews.com informs. The hospital will be inaugurated in the first quarter of 2018 with the aim to be a regional unit also serving patients living near Cluj, the company said in a press release on Wednesday. The new hospital will have four floors and will spread on an area ...

Carrefour Romania reopens two former Billa supermarkets

Wednesday, September 20, 2017

Carrefour Romania said on Thursday it has reopened two of 86 stores it acquired from Billa retail chain last year, seenews.com informs. The stores, located in capital Bucharest and in nearby city of Voluntari, were rebranded as Carrefour Market stores, Carrefour Romania said in a press release. The Bucharest store spreads on 1,168 sq m and employs 33, while the Voluntari unit has an area of 900 sq m and employs ...

Oracle to move to Romania its European hardware support teams

Wednesday, September 20, 2017

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Oracle will reportedly move to Romania its pan-European hardware support to Romania, The Register reported., business-review.eu informs. The online outlet quoted ...

Belgian-Romanian Business Association (BEROBA) becomes Bilateral Chamber of Commerce

Wednesday, September 20, 2017

The Belgian-Romanian Business Association BEROBA and the Embassy of the Kingdom of Belgium in Bucharest announce the change of the association’s status to Bilateral Chamber of Commerce, business-review.eu reads. This change occurs following the accreditation of BEROBA as member of the Federation of Belgian Chambers of Commerce (BLCCA) in July 2017. The event takes place nearly four years after the founding of BEROBA and marks the beginning of a ...

CNP Survey: Companies expect investments in industry to rise by over 30 percent in Q3 2017

Wednesday, September 20, 2017

Companies expect investments in industry to rise by over 30 percent in Q3 2017 from the same period of 2016, shows a survey by the National Prognosis Commission (CNP). "After a steep decline in the first two quarters, the companies' estimate for the third ...

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