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FIC: Romania’s economy is growing, investors’ confidence is deteriorating

Wednesday, November 1, 2017

The results of the September 2017 survey of the Foreign Investors Council (FIC) tell that more than 60 percent of respondents expect their revenues and business to grow in the next year, considering the economic growth of this year and the forecasts for next year, business-review.eu informs. At the same time, FIC’ members believe that the business environment in Romania is deteriorating considerably, especially on the predictability of the legislative ...

Himoinsa opens logistics centre in Romania

Wednesday, November 1, 2017

Multinational power generators and lighting towers manufacturer Himoinsa on Tuesday opened a logistics centre in Romania following a 500,000 euro ($587,878) investment, seenews.com informs. The 1,500 sq m logistics centre is located near capital Bucharest, in Chiajna, and will serve the domestic market, as well as the markets of Albania, Bulgaria, Croatia, Greece, Moldova, Serbia and Slovakia, the company said in a press ...

U.S. AMBASSADOR HANS KLEMM’S REMARKS AT THE TRADE WINDS FORUM OPENING CEREMONY

Wednesday, October 25, 2017

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There is the US Ambassador Hans Klemm speech at the Trade Winds opening ceremony, Bucharest, October 19, 2017. Trade Winds is the largest annual US government organized trade mission designed to match US and foreign businesses to create business partnerships. Mr. Prime Minister, Counselor, distinguished guests, colleagues, friends, ladies and gentlemen, I will try to be brief ...

Investment boost în Romania: circular economy project under Junker Plan, three agreements under SME Initiative

Wednesday, October 25, 2017

Last Thursday, the European Investment Fund (EIF) signed three new SME Initiative guarantee transactions with BRD-Groupe Société Générale, with ING Bank (Bucharest Branch) and Libra Internet Bank acting as partners. The agreements with the three banks aim to facilitate access to finance for Romanian SMEs by providing a 60% guarantee on each loan and by lowering the interest rates charged by banks. These transactions are expected to benefit ...

IKEA obtains building permit for second store in Romania

Wednesday, October 25, 2017

Swedish furniture retailer IKEA said on Wednesday it has obtained a building permit for its second store in Romania, seenews.com informs. Construction works are set to begin this month and the inauguration of the store is expected to take place by the end of 2018, IKEA said in a press release. "Because we already received the authorization for land and fencing in September, the general builder began preparing the ground and ...

DS Smith to buy Romania’s EcoPack and EcoPaper in EUR 208 M deal

Wednesday, October 25, 2017

UK-based packaging DS Smith Plc has entered into an agreement to acquire Romania’s EcoPack and EcoPaper, a leading integrated packaging and paper group on the domestic market, for an enterprise value of about EUR 208 million, a press release informs quoted by romaniajournal.ro. ”We continue to grow very strongly throughout Eastern Europe. This exciting acquisition will ...

EximBank lends EUR 14 M to Maschio Gaspardo Romania to support investments in agricultural equipment

Wednesday, October 25, 2017

EximBank and  Maschio Gaspardo Romania  signed a financial agreement  of almost EUR 14 million for current activity and for supporting the investment program of the manufacturer of agricultural equipment in order to reach its business targets, a press release informs, romaniajournal.ro reads. ”Romanian agriculture has a significant development potential but its harnessing as well as increasing the competition in the ...

State Assets Management Authority had 504 companies under administration as of June 30

Wednesday, October 25, 2017

The State Assets Management Authority (AAAS) had 504 companies under administration as of June 30, by 8.2 percent less from the 549 registered on June 30, 2016, shows data made available by the institution at the request of ...

Increase of the share capital, important step towards strengthening the Romanian Post company

Wednesday, October 25, 2017

 The increase of the share capital is an important step towards strengthening the Romanian Post, the company's acting CEO Elena Petrascu said on Monday on the occasion of a new meeting with representatives of personnel from all the company's activity sectors, which also had Minister of Communications and Information Society Lucian Sova ...

Libra Internet Bank to grant 47.7 ml euro loans for SMEs, through FEI agreement

Wednesday, October 25, 2017

Libra Internet Bank will grant loans worth up to 47.7 million euro to small and medium-sized enterprises (SMEs), on favourable terms, following the signing of an agreement with the European Investment Fund (FEI) within the programme titled "The SME Initiative", reads a press release of the bank sent on Monday. "We are glad for the extension of the agreement ...

Companies and registered sole traders (PFA) facing insolvency went up by 7.58 per cent January through September 2017

Wednesday, October 25, 2017

The number of companies and registered sole traders (PFA) facing insolvency went up by 7.58 per cent January through September this year, compared with the same period of 2016, reaching 6,441 units, the data published on the site of the National Trade Register Office (ONRC) reveals. Most of the companies and registered sole traders facing insolvency are from ...

Franchise market in Romania to double in five years

Wednesday, October 25, 2017

The franchise market in Romania, which includes over 400 business concepts, is heading towards EUR 3 billion in revenues this year and has the potential to double in the next five years, ...

Kestral International opens office in Romania

Wednesday, October 25, 2017

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Kestral International, specialized in providing solutions for industry, has opened an office in Romania to strengthen access for its OEM clients to South East Europe, the company informs în a statement sent to ACTMedia.   Bucharest, October 19th 2017 - Kestral announces its expanison in Europe, as part of  its international growth plan. The Romanian office will be key to the company’s development in South Eastern Europe. In this ...

Wirtek opens third office in Bucharest

Wednesday, October 25, 2017

Wirtek expands its partnership with Romania by opening the third office in Bucharest, business-review.eu informs. The announcement was made during the celebration of eleven years since they opened their first office in Cluj-Napoca. The second office was opened three years ago also in Cluj-Napoca. Wirtek doubled their employees number in the last two years and now it’s planning to start a strategic partnership with Mark ...

Euroweb Romania estimates revenues growth by 50 pct from cloud solutions in 2017

Wednesday, October 18, 2017

Euroweb Romania, one of the main local suppliers of telecom and IT services for business clients, estimates a growth of revenues by 50 percent from cloud solutions in 2017, business-review.eu reads. Euroweb launched the cloud clients portfolio a year ago, based on Cisco solutions, EMC and VMWare, and currently the cloud has an important share in the business. The company ...

Ford Plant in Craiova launched the production of the new EcoSport SUV for Europe

Wednesday, October 18, 2017

The Ford Plant in Craiova on Tuesday launched the production of the new EcoSport SUV for Europe, in order to cover for the growth in demand from clients on this segment, according to the ...

Jumbo 12-month profit up 8 pct, foreign markets help

Wednesday, October 18, 2017

 Jumbo, Greece’s biggest listed retailer, posted on Monday an eight percent rise in net profit for the fiscal year to end June, mainly due to robust growth in Bulgaria and Romania, Reuters correspondent informs. Net profit for the 12 months came in at 131 million euros ($154.62 million), up from 121 million euros in the year ago period. It will pay a total dividend of 0.36 euros a share. Jumbo has fared well thanks to its low-cost products and foreign operations ...

The Vitali company in Dolj bought Avicola Crevedia, part of the Agroli group

Wednesday, October 18, 2017

The Vitali company in Dolj with activity in the production of fodder and poulty production bought Avicola Crevedia,part of the Agroli group, business on bid by Casa de Insolventa Transilvania for a price of 14 million euro, according to Ziarul Financiar. ‘We had been renting with them for about a year. We have all the farms populated, the slaughter house works, the fodder factory, everything. We are present with chicken in Selgros, Profi with the brand Avicola Crevedia and we ...

Deloitte Technology Fast 50: Three Romanian companies among fast-growing technology companies in CE

Wednesday, October 18, 2017

The latest edition of the Central European Deloitte Technology Fast 50 includes three Romanian companies, one of which received a special award for the Most Disruptive Innovation, business-review.eu informs.  The speed of growth among Central Europe’s technology companies continues to accelerate, with average growth between 2013 and 2016 hitting a new record of 1,127 percent, the report shows. This not only confounds any suspicions that last year’s ...

Diesel engine constructor moves production from UK to Romania

Wednesday, October 18, 2017

Cummins, the largest independent diesel engine manufacturer in the world, wants to relocate its entire production from the UK to Dolj county, in Southern Romania, romania-insider.com reads. Brexit is the reason for the transfer, Craiova mayor Mihail Genoiu said, reports ...

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