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Ford Trucks launches its biggest Europe HQ in Romania

Wednesday, May 10, 2017

Ford Trucks has launched its headquarters in Romania, which represents the biggest office that the company has in Europe, business-review.eu informs. The building is located on the A1 highway, at km 13.2, and from here Ford Trucks will provide a wide array of services such as sales, post-sale operations and spare parts deliveries. The HQ of Ford Trucks was launched following a rebranding that required an investment of over EUR 200,000, concluded with a renovated ...

EY: Banking, real estate deals to dominate Romanian 2017 M&A market

Wednesday, May 10, 2017

Romania's market of mergers and acquisitions (M&A) is expected to be dominated by banking and real estate deals in 2017, much like last year, global consultancy Ernst&Young (EY) said on Tuesday, quoted by seenews.com. In real estate investment, interest is mainly directed at shopping centers and offices, through real estate investment funds, but there are signs of shy revival on the residential side, EY said in a press release. Medical services area is also expected to ...

Telekom official proposed as Romania’s new ANCOM head

Wednesday, May 10, 2017

The Romanian government has proposed Adrian Dita as the new head of the telecom regulator ANCOM. Dita was up to now public affairs director at Telekom Romania, one of the largest telecom players in the country in which the state still holds a minority stake, business-review.eu reads. The appointment of Dita at the help of ANCOM will have to be voted in Parliament. He is set to ...

Softelligence to hire 100 by end-2018

Wednesday, May 10, 2017

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Romanian business software company Softelligence said on Tuesday it plans to hire 100 developers by the end of next year in its software engineering office in Craiova, seenews.com reports. Softelligence plans to hire both experienced IT specialists and entry level programmers, the company said in a press release. The Softelligence Engineering office in Craiova, in southern Romania, was inaugurated at the beginning of this year and works on projects for customers from the UK, ...

UPC Romania Q1 revenues up 6 percent over growing customer base

Wednesday, May 10, 2017

The revenues of telecom operator UPC Romania went up by around 6 percent to RON 168.6 million in the first quarter of this year versus the same period of last year, on the back of a growing customer base and expansion of the coverage across Romania, business-review.eu reads. UPC said its coverage of households gained 1o percent to 2.88 million units, while the number of subscription was up by 6.5 percent to 2.29 million. The company had 1.29 million customers at the end of ...

Through "IMM INVEST Romania" programme, SME's will receive support to access financing through 50 pct state guarantees

Wednesday, May 10, 2017

The Government has approved on Friday, through a memorandum, the "IMM INVEST Romania" programme, granting support to the small and medium-sized enterprises in order to access financing by the State guaranteeing 50 pct of investment loans and/or credit lines for working capital, announced Alina Petrescu, spokesperson for the ...

Insolvency in Q1 2017 was down 16.15 pct from the similar period of 2016

Wednesday, May 3, 2017

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The number of trading companies that initiated insolvency procedures in Romania in Q1 2017 was down 16.15 pct from the similar period of the year before to 1,932, shows official data published on the website of the National Trade Register Office (ONRC). Most ...

Continental Romania to invest some 170 mln euro in 2017, hire 1,500

Wednesday, May 3, 2017

German automotive parts supplier Continental said on Tuesday it plans to invest some 170 million euro ($186 million) in Romania in 2017 and hire 1,500 people, seenews.com informs. Continental Romania plans to invest in 2017 mainly in staff training, plant infrastructure and in state-of-the art equipment, it said in a press release. The company invested 170 million euro last year in Romania, mainly in infrastructure and equipment as well as in technology for its R&D ...

ArcelorMittal Galati invests 6 mln euro in zinc coating line upgrade

Wednesday, May 3, 2017

Romania's largest steel mill, ArcelorMittal Galati, said on Tuesday it has invested 6 million euro ($6.56 million) in improving the performance of its zinc coating line, seenews.com reports. The investment consisted of a package of technical upgrades in all sectors of the production line, followed by technical corrections implemented by maintenance specialists, ArcelorMittal said in a press release. "This investment package allows us to adapt to our customers' new ...

FCC awarded $1.78bn contract for three railway sections in Romania

Wednesday, May 3, 2017

Spanish contractor Fomento de Construcciones y Contratas (FCC) has been awarded a contract by the Romanian National Railway Company for three railway sections in the region of Transylvania, globalconstructionreview.com reads. FCC will work in a consortium on the $1.78bn deal.The works consist of building and modernising: 122km of railway line 47 bridges Eight overpasses and seven ...

Startups running on foreign capital in Romania declined 2.56 percent January-February y-o-y, to 797

Wednesday, May 3, 2017

The number of startups running on foreign capital in Romania declined 2.56 percent January-February y-o-y, to 797, reveal data with the National Trade Register Office (ONRC). The 797 new startups had a paid-up capital of more than 8.55 million US dollars, up 139 percent y-o-y. In 2016, Romania witnessed the leanest in 18 years in terms of new startups running on foreign capital. Thus, in 2016, 5,348 such companies were established, down from 5,831 in 2015. ...

Minister Petrescu had a meeting with Bavarian State Minister of Economic Affairs and Media, Energy and Technology

Wednesday, May 3, 2017

The relation with the state of Bavaria is very important for Romania, both in terms of the trade balance and that of the investment print in Romania, Business Environment, Trade and Entrepreneurship Minister Alexandru Petrescu said on ...

Alexandru Reff appointed country managing partner for Deloitte Romania and Moldova

Wednesday, May 3, 2017

Alexandru Reff has been appointed country managing partner Deloitte Romania and Moldova, officially starting on June 1, business-review.eu informs. He will replace Ahmed Hassan, who takes on a regional leadership position. Reff is an attorney at law, founder of Reff & Associates, the law firm representing Deloitte Legal in Romania. He started his career in Deloitte in 1997 and served in various executive roles, including Tax and Legal partner for a ...

Volkswagen-Audi and Enercon are interested in starting businesses în Romania

Wednesday, May 3, 2017

Volkswagen-Audi and Enercon are interested in starting businesses or developing partnerships in Romania, according to a press release issued by the Ministry for Business Milieu, Commerce and Entrepreneurship and remitted last Wednesday.The said ministry's head, Alexandru Petrescu visited the stands of the Romanian companies at the Hannover Fair - "Hannover Messe" - one of the events in the industrial technology field. According to the press release, the day was ...

Digi Communication's net profit of 11.8 million euro in 2016

Wednesday, May 3, 2017

Digi Communication, the parent company of RCS & RDS telecommunications company, grossed a net profit of 11.8 million euro in 2016, but the long-term debt of the company increased by 13.17 pct last year as compared to the previous one, to 746.4 million euro, reads the newsletter published on the Bucharest Stock Exchange (BVB) website. The bulk of the amount of 665.5 million euro is represented by interest-bearing credits and loans, including bonds. The ...

2.4 million customers were using Orange 4G services at the end of March 2017

Wednesday, May 3, 2017

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A total of 2.4 million customers were using Orange 4G services at the end of March this year, double as compared to the first quarter of 2016, due to rising sales of smartphones and devices connected to smartphones, informs the company on Thursday. "In the first quarter of the year, tailored offers encouraged customers to select 4G Internet rich subscriptions and the possibility to purchase pay-per-bill instalment phones. The ever growing need for Internet access was ...

Orange Romania launches new tariff plans for SMEs

Wednesday, May 3, 2017

Orange Romania launched new Business Mobile and Orange Pro subscriptions for small and medium businesses, telecompaper.com reports. Customers can choose between various Pro tariff plans which include unlimited on-net minutes, ...

S&P upgrades Romania's RCS & RDS to 'BB-'; stable outlook

Wednesday, May 3, 2017

Standard & Poor's Ratings Services said on Wednesday it has upgraded Romanian telecommunications operator, RCS & RDS and its parent company Digi Communications N.V.  long-term corporate ratings to 'BB-' from 'B+', with stable outlooks, seenews.com reads. S&P last reviewed RCS & RDS and Digi Communications N.V.in October 2016, when it upgraded outlook to positive from stable, affirming the 'B+' long-term corporate credit rating. "DIGI Communications N.V. ...

Coface: Financial losses caused by insolvencies reach highest level

Wednesday, April 26, 2017

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Losses of Romanian companies, caused by insolvencies have reached a historic high level, although 2017 started with a historic low level of the number of insolvencies, according to a study published on Tuesday by the national company of credit insurance Coface. From the Coface analysis, made according to data supplied by the Insolvency Procedure Bulletin, 1,753 new insolvency procedures opened in the first quarter of the ongoing year, on the drop by ...

Romanian operator 2K Telecom's debt reaches RON 73 mln

Wednesday, April 26, 2017

Romanian communications company 2K Telecom, which went into insolvency earlier in 2017, owes over RON 73 million to  writes local paper Ziarul Financiar citing a report created by the judicial services company CITR Ilfov. Of these, RON 43 million are owed to ZTE, telecompaper.com reads. 2K Telecom ...

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