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Fashion retailer H&M to reach 51 units in Romania

Wednesday, November 23, 2016

The Swedish fashion retailer H&M opens on November 24 the third store from Ploiesti, in the commercial center Winmarkt,this also being the 51th unit that will be opened by the company in Romania, business-review.eu reports. H&M owns stores also in the commercial centers AFI Ploiesti and Ploiesti Shopping City. The retailer is present in Romania since 2011 and had sales worth of SEK 1.51 billion (EUR 161.7 ...

Statistics: Companies registered in 2015 more than 49.9 billion lei in gross profit

Wednesday, November 23, 2016

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Companies registered in 2015 more than 49.9 billion lei in gross profit, a figure by 42.8 percent higher than in the previous year, according to a release the National Institute of Statistics (INS) sent on ...

Government to reduce guarantee requirement for public procurement contracts under EUR 25 mln

Wednesday, November 23, 2016

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The participation guarantee for the public acquisitions with a value lower than EUR 25 million won’t exceed one percent of the contract value, said the Romanian government, business-review.eu reads. The decision comes after the cut in the guarantees ...

Romania's anti-trust body looks into Radu Group takeover of Postmaster, Zoto Investments

Wednesday, November 23, 2016

Romania's anti-trust regulator said on Friday it is looking into the recent takeover of Postmaster and Zoto Investments by local Radu Group of companies to establish whether the deal complies with competition rules, seenews.com informs. "In order to determine whether the concentration is compatible with normal competitive environment, the Competition Authority will consider the notified transaction under the merger regulation," the Council said in ...

SMEs to get aid for developing innovation projects

Wednesday, November 23, 2016

In a memorandum on Wednesday, the Government approved a de minimis state aid scheme in the form of ''innovation cheques'' for the economic, budgetary and financial policies of the Romanian Government. The Government reports in a press statement that the cheques are financial grants to the SMEs to fund highly innovative projects provided from the allocations ...

Romania's Albalact cons 9-mo net profit doubles on new products, cost management

Wednesday, November 23, 2016

Romanian dairy producer Albalact [BSE:ALBZ], part of French group Lactalis, said on Wednesday its consolidated net profit more than doubled to 23.8 million lei ($5.6 million/5.2 million euro) in the first nine months of the year from 9.98 million lei in the same period of 2015, seenews.com reports. The company's turnover grew 17% on the year to 367 million lei in the January-September period, Albalact said in a press ...

Alro reports an adjusted net profit of RON 94 million, in the first nine months of 2016

Wednesday, November 16, 2016

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Turnover of RON 1.58 billion, as compared to RON 1.77 billion in Q1-Q3 2015 Increased sales volume by 4% Primary aluminium production of 205,400 tonnes, from 203,100 tonnes Processed aluminium production of 57,500 tonnes, from 59,800 ...

Rompetrol continues the partnership with SMURD Foundation to save lives

Wednesday, November 16, 2016

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KMG International, through its member companies Rominserv and Rompetrol Gas, continues to support in 2016 – 2017 the medical emergency interventions of SMURD, at national level, the company informs în a press release sent to ACTMedia. Through this partnership, the Group donates to the Emergency and ICU unit of Floreasca Emergency Hospital, an extracorporeal membrane oxygenation device (ECMO), as well as uniforms for SMURD medical volunteers. “We understand the needs ...

Reuters:British American Tobacco expands Romanian production

Wednesday, November 16, 2016

British American Tobacco Plc (BAT) plans to expand output at its Ploiesti factory in Romania by 20 percent in 2017 after a German facility closure and to invest 1.0 billion euros over the next five years, http://uk.reuters.com/ reports BAT's operations in Romania include a nationwide distribution company and a regional services ...

Bell Helicopter signs Memorandum of Understanding with IAR - Ghimbav Brasov

Wednesday, November 16, 2016

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* Romanian aerospace manufacturer will engage with American manufacturer to discuss potential collaboration on AH-1Z Viper attack helicopter  Bell Helicopter, a Textron Inc. (NYSE: TXT) company, is pleased to announce the signing of a Memorandum of Understanding ...

Carrefour hypermarket opens  31st store in Romania

Wednesday, November 16, 2016

Carrefour Romania opened a new hypermarket in the Veranda shopping centre, Bucharest, internationalsupermarketnews.com reads. The Veranda Carrefour hypermarket is Bucharest’s 12th, and the country’s 31st overall. The new store, opened on 27 October,  boasts a sales area of 7500 m² and a car park with space for 1200 cars. It employs 330 people. Carrefour Veranda has a number of new features – including a special Snack area where customers can relax while ...

Romania's antitrust body approves Swiss MET Group's takeover of Repower

Wednesday, November 16, 2016

Romania's anti-trust regulator said on Thursday it had approved the takeover of the local business of Swiss energy group Repower by Switzerland-based natural gas and power supplier MET Group, seenews.com reads. At the end of July, Repower said it had sold its Romanian operations to Swiss MET Group for an undisclosed sum. "Following a review of the transaction, the Competition Council found that it does not raise significant obstacles to effective competition in the market, in ...

Romania business services sector might reach 200,000 jobs by 2020

Wednesday, November 16, 2016

The business services sector in Romania could reach 200,000 jobs in 2020, according to an estimate included in the Europe’s Business Services Destination, the report published by the Association of Business Service Leaders in Poland, quoted by business-review.eu. According to the report, Romania currently has 265 business services centers, including business process outsourcing (BPO), IT and R&D. ABSL Romania estimates that 109,000 employees ...

Three out of four companies in FMCG sector risk insolvency in next 12 months (study)

Wednesday, November 9, 2016

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Three out of four companies in the consumer goods sector (FMCG) have above average insolvency risk in the next 12 months, according to a market analysis presented by Coface and EY. According to the document “Analysis of consumer goods with big circulation speed (FMCG)”made by the international credit insurance company Coface and the consulting and audit company EY, in partnership with the Academy of Economic Studies, over the last 7 years ...

Improved business climate, personal freedom keep Romania in top 50 in Legatum Prosperity Index

Wednesday, November 9, 2016

An improved business environment, more personal freedom and efforts to improve governance have helped Romania keep its 50th position in the 2016 Legatum Prosperity Index issued in November, seenews.com reports. "Since joining the EU in 2007, Romania has seen a gradual improvement in its delivery of prosperity, outperforming Bulgaria, who joined the EU in the same year," the Legatum Institute said in a summary of its annual global ranking which includes ...

MARKS & SPENCER ANNOUNCES PROPOSALS TO CLOSE ITS STORES IN ROMANIA

Wednesday, November 9, 2016

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Marks & Spencer announces this Tuesday that it will be entering into consultation with its employees regarding proposals to close its six stores in Romania, a statement sent by the company informs. The proposals have been developed by Marks & Spencer following a comprehensive review of its 466 International stores in order to build a clear picture of its business today and what is driving results. The review has looked at the performance and ...

Polish players gain prominence in Romania – close to EUR 500 mln in FDI

Wednesday, November 9, 2016

A growing number of Polish companies have been venturing into Romania in the past few years. Close to 450 firms have launched local operations in search of new growth avenues outside their home market, business-review.eu reads. The local business environment already has some key figures of Polish origin, especially on the capital market. For instance, the head of the Bucharest Stock Exchange (BVB), Ludwik Sobolewski, came to Bucharest in 2013 after ...

Active dealmakers on the local market

Wednesday, November 9, 2016

The financial and retail sectors have seen some deals that have involved Polish players in the past few years. For instance, last year AmRest Holdings took over the Starbucks franchise in Romania and Bulgaria, in move estimated at EUR 16 million. This summer, the Polish operator of the franchise reported a 25 percent increase in gross earnings in Romania, the highest among countries where AmRest operates the coffee shop ...

EY: Romania exits Top 40 on most attractive renewable investment destinations

Wednesday, November 9, 2016

Romania is not among the 40 most attractive destinations for renewable investments, according to a report by professional services firm EY, quoted by business-review.eu. The country has lost its 34 place that it had last year and is not among the most attractive markets for new green energy investments. “The drastic correction of the support scheme for electricity produced from renewable sources and the uncertainties ...

Newly established companies on foreign capital in the first nine months of 2016 went down 11.6 percent

Wednesday, November 9, 2016

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The number of newly established companies on foreign capital in the first nine months of 2016 went down 11.6 percent, compared with the similar period of last year, to 3,946 companies, according to the National Trade Registry Office (ONRC) ...

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