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GM Pizza Hut: We expect to turn around the business by the end of 2024
Wednesday, January 10, 2024
Pizza Hut, the second-biggest brand in the portfolio of Romanian restaurant operator Sphera Franchise Group, started a reorganization process aiming to streamline its activity and bring it back to operating profit. Costica Misaca, who took over as General Manager of Pizza Hut in September 2023, shares more details about this process. Pizza Hut recorded declining sales in the ...
Gábor Mozga is the new CEO of MOL Romania
Wednesday, January 10, 2024
Gábor Mozga has been appointed as CEO of MOL Romania as of January 1, 2024. After 17 years of service in MOL, Camelia Ene ended her term as of December 31 and she will continue to build her career outside of MOL Group. “The near future marks a significant milestone in MOL Romania’s growth journey. We are enhancing our services to meet the ever-changing needs of ...
Fiscal changes effective January 1, 2024: An entrepreneur can own only one microenterprise
Wednesday, January 3, 2024
Fiscal amendments made in October and December 2023 lead to tax increases and require new investments by companies, while the unpredictability regarding the fiscal regime has disturbed the business environment at the end of the year. Changes at the microenterprise level and the elimination of tax optimization for entrepreneurs holding stakes in multiple microenterprises, doubling taxation for meal vouchers offered to employees, increasing VAT from 9 to 19% for certain tourism activities ...
137,673 natural, legal persons doing business registered over Jan - Nov 2023
Wednesday, January 3, 2024
The number of registrations of individuals and legal entities doing business in Romania was 4.28 percent down over January - November 2023 from the same period of the previous year, to 137,673, of which 90,233 were limited liabilities, according to data centralised by the National Trade Register Office (ONRC).Most registrations were in Bucharest - 28,943 (up 5.52 percent from the year-ago period), and in the counties of Ilfov - 7,460 (-0.94 pct ), Cluj - 7,394 (-15.51 pct), ...
Rheinmetall to Modernize Romanian Air Defense in $362-Million Deal
Wednesday, January 3, 2024
Arms manufacturer Rheinmetall has secured a 328-million euro ($362 million) contract with Romania to modernize its air defense artillery systems, https://www.thedefensepost.com/ reports. The ...
Chimcomplex gets state aid for EUR 100 mln investment in new production unit
Wednesday, January 3, 2024
Romanian chemical group Chimcomplex has signed a financing agreement with the Ministry of Economy for the development of a new production unit for epoxy resins. The group’s total investment in this project amounts to RON 490 mln (almost EUR 100 mln), VAT included, of which RON 195 mln (EUR 40 mln) will come from the state. Chimcomplex is the biggest chemical producer in Romania and has a market capitalization ...
Carrefour Romania Expands Proximity Network With 22 Stores
Wednesday, January 3, 2024
Carrefour Romania is solidifying its position as a key player in the country's convenience store market with the opening of 22 new Express stores in nine cities during 2023, https://www.esmmagazine.com/ informs. This latest expansion brings the retailer's total Express store count to 162. Omnichannel Vision The expansion of the Express format is a ...
Grampet: Redefining performance in freight rail transport
Wednesday, January 3, 2024
As the head of the largest group of private railway companies with Romanian ownership in Southeast Europe and a leader in the industry, Gruia Stoica, the President of Grampet, firmly believes that his company will play a pivotal role in the region. Business Review spoke to him about the ways in which Grampet brings added value for the local economy. What were the biggest challenges Grampet faced in 2023? One of the key ...
Farmec and Newpharma Romania partner launch AI skin scanning app
Wednesday, January 3, 2024
Newpharma Romania, the local subsidiary of the Belgian group that applies artificial intelligence and digital technologies in the pharma sector, has entered into a partnership with the Romanian cosmetics manufacturer Farmec Cluj Napoca to offer personalized recommendations to customers through a skin scanning application. Through this application, users can evaluate their skin and receive personalized recommendations from a catalog of products, including those from the ...
Veratron enters Romanian market
Wednesday, January 3, 2024
The Swiss manufacturer of electronic instruments for vehicles, Veratron, previously owned by groups such as Siemens and Continental, has entered the Romanian market, where it is interested in manufacturing measurement, testing, control, and navigation equipment. The company was established over 50 years ago under the name VDO Technik and now has its headquarters, a research and development center, and production facilities in Rüthi, Switzerland, as well as ...
iBanFirst study: 5 compelling reasons for Western European companies to invest in Romania and Eastern Europe
Wednesday, December 20, 2023
? The combination of robust economic growth, a trained labor population, rising consumer markets, expanding trade links, and a dedication to sustainable business practices has made Eastern Europe a magnet for Western European enterprises. ? iBanFirst, the European alternative ...
PepsiCo invests $13m in soft drinks line in Romania
Wednesday, December 20, 2023
PepsiCo is investing $13 million to install a modern, fully automated production line at its soft drink factory in Dragomiresti, Romania, ...
Nokian Tyres Amplifies Recruitment Process In Oradea, As Construction Works Progress
Wednesday, December 20, 2023
Nokian Tyres starts to accelerate the recruitment for its new production unit in Oradea, Bihor County. There are almost 350 available positions for 2024, including managers and production workers. All of them will have the chance work in the world’s first zero CO2 emission tire factory, which is scheduled to produce the first tire in the second half of 2024. Candidates are invited to learn more about the job openings and submit their application online, ...
ALRO Syndicated Credit Facility Of USD 150 M Extended With Another Three Years
Wednesday, December 20, 2023
Exim Banca Româneasca coordinated the extension until 2026 of the working capital credit facility amounting at USD 150 million for ALRO S.A. (BVB: ALR, “The Company” or “ALRO”), one of the largest aluminium producers in Europe measured by production capacity. The banks syndicate included Exim Banca ...
Cargus launches the first e-Commerce platform for delivery services in Romania, dedicated to entrepreneurs and individuals with recurring shipments
Wednesday, December 20, 2023
The e-Commerce SIGN & GO platform is a 100% digital solution dedicated to PFA, micro and SME entities, as well as individuals who send parcels on a recurring ...
Regency Front invests 6 million euros in a new furniture production line
Wednesday, December 20, 2023
Regency Front, one of the largest manufacturers of MDF fronts, has invested 6 million euros in a new line dedicated to painted doors, with last generation technology and equipment. Production capacity reaches 700 m2/exchange and also integrates, at the same time, the largest lacquer line in Romania and fully automated edge sanding or primer application machines. The final products are dedicated to both B2B customers and end ...
Healthcare network Regina Maria opens Timisoara clinic following EUR 8 million investment
Wednesday, December 20, 2023
Healthcare network Regina Maria inaugurated Policlinica Banat in Timisoara following a EUR 8 million investment, the company said. With a surface of 2,800 sqm, the clinic offers access to 31 medical specialties, ranging from cardiology, neurology, and ophthalmology to medical genetics, hematology and an intrauterine insemination laboratory. Its imaging department covers radiology, CT, MRI and ...
TeraPlast Group Acquires The Pipe Manufacturer Palplast Based In The Republic Of Moldova
Wednesday, December 20, 2023
TeraPlast Group announces the acquisition of the majority stake in the company Palplast from Calarasi, Republic of Moldova. The company owns two production lines for high-density polyethylene pipes for water and gas supply networks. The parties have agreed upon a transaction ...
CARBOCHIM Cluj-Napoca relocated; 5 Million Euro upgrade investments
Wednesday, December 13, 2023
CARBOCHIM SA, whose majority shareholder is Carbo Europe SRL, part of IULIUS Group, is the largest manufacturer of professional abrasives in Romania. The Cluj-based manufacturing facility recently completed the relocation and technological upgrade process, an endeavor that required a 5-plus million Euro investment, aiming to ...
Shares of Infinity Capital Investments, trading since Monday under new symbol, Infinity
Wednesday, December 13, 2023
Infinity Capital Investments (Infinity), a company listed on the Bucharest Stock Exchange (BVB) for about a quarter of a century, has been trading since Monday, December 11, under the new Infinity symbol as a result of the process of implementing a new brand identity carried out by company during this year, the company representatives announced.Infinity Capital Investments implemented a new brand identity this year, which included changing the ...