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Romania’s government approves new PPP law

Wednesday, December 20, 2017

The government passed an emergency ordinance that updates Romania’s legislation on Public-Private Partnerships (PPP) in a bid to spur strategic investments. The Ministry for Business Environment, Trade and Entrepreneurship, which backed the changes to the PPP law, said that the updated legislation is correlated with the laws on public acquisitions, sectorial ...

Reaction issued by Fondul Proprietatea, on the current situation at Posta Romana

Wednesday, December 20, 2017

The capitalisation of the Romanian Post (CNPR) as proposed by the Ministry of Communications and Information Society (MCSI) should be done with observance of the state aid rules, on Thursday said Johan Meyer, co-CEO of Franklin Templeton Investments Romania and co-portfolio manager of Fondul Proprietatea (FP), according to a release sent on Thursday."Fondul Proprietatea opines that the increment of the Romanian Post's share capital, proposed by the MCSI should be ...

ORACLE: Q2 FY18 GAAP EPS UP 8% TO $0.52 and NON-GAAP EPS UP 14% TO $0.70

Wednesday, December 20, 2017

* Q2 FY18 Cloud Revenues Up 44% to $1.5 Billion and Total Revenues Up 6% to $9.6 Billion Oracle Corporation (NYSE: ORCL) announced fiscal 2018 Q2 results. Total Revenues were up 6% to $9.6 billion, compared to Q2 last year, a press release revels. Cloud plus On-Premise Software Revenues were up 9% to $7.8 billion. Cloud Software as a Service (SaaS) revenues were up 55% to $1.1 billion. Cloud Platform as a Service (PaaS) plus ...

Zacaria delivers the first building from the largest industrial park in Sibiu

Wednesday, December 20, 2017

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 Real estate developer Zacaria signed one of the largest rental contracts in 2017 for an industrial space in Sibiu, with the German company Kuka Systems, which will expand its activity in Romania. The new Kuka production space is a built-to-suit project, covering more than 10,000 square meters. The new facility was designed according to Kuka Systems' specifications and needs, considering that the German company is doubling its production and ...

Eurostat: only 7 pct of Romanian businesses had online sales in 2016

Wednesday, December 20, 2017

Eurostat statistics show that on average, 16 percent of enterprises in the EU which employed at least 10 people had received orders via websites or apps in 2016, compared to 10 percent in 2010, business-review.eu/ informs. Romania is on the last place among EU member states, with only 7 percent of businesses receiving orders on the web – although there may be more which are not included in the data due to the fact ...

4 companies represent Romania in Deloitte 2017 Technology Fast 500TM EMEA rankings

Wednesday, December 13, 2017

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Trencadis, Tremend, APSISWARE and Qualitance represent Romania in this year’s Deloitte’s Technology Fast 500™ rankings for Europe, the Middle East, and Africa (EMEA), a press release informs quoted by romaniajournal.ro. Now in its 17th year, the list is compiled by Deloitte Global’s Technology, Media & Telecommunications (TMT) industry group. The four Romanian companies are part of the 62 Central European group of companies ...

TUI TravelCenter/Eurolines expects EUR 100 mln turnover this year

Wednesday, December 13, 2017

TUI Travel Center / Eurolines, the largest Romanian travel agency network with more than 80 offices, will exceed EUR 100 million sales this year, up 30% over the previous year, romania-insider.com reads. Exotic destinations such as Thailand, Maldives, Dominican Republic, Mexico, Sri Lanka recorded the biggest increase during this period. Prices have dropped compared to 7-8 years ago, while the purchasing ...

Gefco and Ford expand collaboration in Romania

Wednesday, December 13, 2017

Gefco Romania, a subsidiary of the Gefco Group, a global player on the industrial logistics sector and European leader in logistic services for the automotive sector, announced the expansion of its collaboration with Ford Motor Company in Romania, business-review.eu reads.    After the recent public announcement by Ford Motor Company on the start of production of Ford EcoSport at its Craiova factory, Gefco Romania supports the activity of one ...

Auchan Romania Aquires OK Supermarket, With Three Stores In Bucharest

Wednesday, December 13, 2017

Auchan Romania is said to have acquired local retailer OK, which operates three supermarkets in the capital Bucharest, according to Ziarul Financiar cited by ...

Dacia Mioveni plant almost doubled its Duster production in November

Wednesday, December 13, 2017

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 Dacia plant in Mioveni manufactured 292,790 vehicles in the first 11 months of the year, of which the largest share is the Duster model, with 187,488 units, Automotive Manufacturers and Importers Association (APIA) data reveal quoted by romaniajournal.ro. Moreover, the company produced 39,575 Dacia Sandero, 34,310 units of Logan MCV and 31,417 units of Logan. To make room for the stock needs of Dacia dealers in Europe, ...

Competition Council investigates Roche Romania for possible abuse of dominant position on the market for certain oncologic products

Wednesday, December 13, 2017

The Competition Council has launched two investigations into a possible abuse of the dominant position of Roche Romania SRL on the Romanian oncologic market, the institution has announced, romaniajournal.ro informs One of the investigations is aimed at possible anti-competitive behaviour consisting in the fact that Roche Romania SRL, in relation to one of its distributor, has wholesale prices higher than the prices offered by Roche Romania SRL in the ...

ABB opens first-ever Robotics Center in Romania

Wednesday, December 13, 2017

ABB has opened its training center for robotics, established through public-private partnership with the Polytechnic University in Bucharest, within the Faculty of Engineering and Management of Technological Systems, Machine and Manufacturing Systems Department (MSP), business-review.eu informs. The fully equipped training center will serve ABB’s customers, partner companies and the University students. The new ABB ...

UPC Romania’s investments have generated EUR 309 mln worth of social benefits

Wednesday, December 6, 2017

UPC Romania’s (part of Liberty Global) investments in digital infrastructure and innovation have generated EUR 309 million worth of social benefits in the last 4 years, due to the impact of higher internet speeds (EUR 196 million), high productivity (EUR 95 million) and prices competition (EUR 18 million), according to Oxera Consulting, business-review.eu reads. The British consultancy company Oxera Consulting analyzed UPC’s infrastructure ...

Bitdefender moves production from China to Northern Romania

Wednesday, December 6, 2017

Romanian technology firm Bitdefender has transferred the production of the second generation of its Bitdefender BOX from China to a factory in Satu Mare, Northern Romania, romania-insider.com reads. Bitdefender BOX is a device that protects household devices connected to the Internet. “It’s also a personal ambition to prove that we can do top things here,” Bitdefender CEO Florin Talpes ...

Romanian state defense contractor Romarm expects 20% increase in exports

Wednesday, December 6, 2017

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Romania’s defense contractor Romarm could see a 20% increase in exports in 2017, to USD 120 million, according to the company’s estimates, reports ...

Firm that built Romania’s gas pipeline network goes bankrupt

Wednesday, December 6, 2017

Local firm Condmag Brasov, which has built more than 90% of Romania’s main natural gas pipeline network, went bankrupt, romania-insider.com infoms. The court’s decision can be appealed within one week. The company is owned by the local investor Gheorghe Calburean. The firm went into insolvency in July 2015 with preliminary debts of RON 172.8 million (EUR 37 million) to almost 200 entities. Its debts to the state budget ...

IKEA Romania’s revenues growth by 14 pct in financial year 2017

Wednesday, December 6, 2017

IKEA Romania’s revenues increased by 14 percent in financial year 2017 ( September 1, 2016- August 31, 2017) and sales reached RON 586.59 million, without VAT.  During this time, over 3.3 million people visited IKEA store in Romania and over 7.5 million sole visitors accessed the site www.IKEA.ro, business-review.eu informs. “We are proud of the excellent ...

Romania's IT industry could grow at an annual pace of 9 percent until 2025

Wednesday, December 6, 2017

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Romania's IT industry could grow at an annual pace of 9 percent until 2025 and cooperation among the relevant entities is the key to the future, president of the Smart Alliance cluster Gabriel Munteanu told the Smart Alliance Innovation Summit on Thursday. "Apart from being the largest and most innovative entity in Bucharest, the Smart Alliance cluster represents innovation. The idea of a collaborative cluster, of collaborative business is iconic for the ...

Vitruvian Partners investment fund has purchased rd 30pct of Bitdefender from Axxess Capital

Wednesday, December 6, 2017

The Vitruvian Partners investment fund has purchased rd 30pct of Bitdefender from Axxess Capital, thus becoming the second biggest shareholder of the company evaluated at over USD 600 million, the software producer announced in a release sent on Friday ...

Germany's Fuchs to acquire lubricants business of Romania's Lub Asyst

Wednesday, December 6, 2017

German high-grade lubricants producer Fuchs Group said on Thursday it will acquire on December 1 the lubricants business in Romania of Lub Asyst, a Bucharest-based distributor of Fuchs industrial oils and greases, seenews.com informs. "The acquisition includes the customer base and the workforce, in particular. Lub Asyst's business will supplement Fuchs' existing business in Romania, which will now be combined in the recently established Fuchs ...

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