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Study : automotive industry joins retail trade, IT as main engines of Romania's economy

Wednesday, October 4, 2017

The automotive industry is one of the main pillars of the Romanian economy, employing over 150,000 people and having contributed 47 percent of the country's exports in 2016, according to a specialist study released on Monday. From one year to another, the automotive industry enjoys strong profitability. In 2016, it recorded an impressive growth rate, 9 percent ...

More than 2,000 Bulgarian Companies Work in Romania

Wednesday, October 4, 2017

Over 2000 companies with Bulgarian capital work in Romania. Approximately the same number of Romanian companies operate in Bulgaria, reports Mediapool quoted by novinite .com.  Trade between Bulgaria and Romania amounts to EUR 3.8 billion in 2016, up 5.7% from the previous year. The balance in bilateral trade is positive for Bulgaria and amounts to EUR 256 million for 2016. This was made clear ...

Romania's antitrust body approves Teraplast takeover of Politub

Wednesday, October 4, 2017

Romania's anti-trust regulator has approved the takeover of plastic products manufacturer Politub by local peer Teraplast Group [BSE:TRP], Teraplast said quoted by seenews.com. Pursuant to this decision, Teraplast will buy 49.99% of Politub shares, in addition to an already owned 50%, thus gaining direct control 99.99% of the company, Teraplast said in a statement filed with the Bucharest Stock Exchange, BVB, on ...

Janssen Romania continues R&D investments in Romania

Wednesday, October 4, 2017

Janssen, the pharmaceuticals company part of Johnson&Johnson Romania, has invested EUR 1 million for R&D operations in the country, mainly for clinical studies in 2016 and company representatives say that the investment efforts will continue this year, business-review.eu informs. As part of its development efforts, the company also backs a hackathon that will take place in Romania in October, where start-ups can ...

H&M sales in Romania climb 14% in 9-mo FY 2017

Wednesday, October 4, 2017

The sales of Swedish fashion retailer Hennes & Mauritz (H&M) in Romania increased by an annual 14% to 1.7 billion Swedish crowns ($208.9 million/177.4 million euro) in the first nine months of the financial year started December 1, the company said on Thursday, seenews.com informs. In the local currency, H&M sales in Romania grew 12% over the review period, the company said in its nine-month financial report. H&M ...

Rustler Romania estimates turnover of over EUR 2.5 mln in 2017

Wednesday, October 4, 2017

The supplier of real estate services Rustler Romania, the subsidiary of Rustler Group –Austria, estimates a turnover of over EUR 2.5 million in 2017, at the 5-year anniversary in Romania, business-review.eu informs. The company’s improved results are due mainly to the Property and Facility Management services for clients from office buildings class A and B sector, followed by the clients from ...

Number of companies in Romania estimating profit growth in 2017, down in last six months

Wednesday, October 4, 2017

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The number of companies active in Romania that expect a rise in profits has decreased in the last six months, from 21 pct, this year's spring, to merely 12 pct in September, according to the preliminary data of a specialist survey presented on Friday by Elena Badea, the Managing Director of Valoria research company, at the Business Challenge 2017 conference. The autumn report on the evolution of businesses in Romania in ...

Alro negotiates with big automobile and aircraft manufacturers for aluminium deliveries

Wednesday, October 4, 2017

Alro, the largest aluminium producer in continental Europe (excluding Russia and Scandinavia) is negotiating with big automobile and aircraft manufacturers for aluminium deliveries, said Gheorghe Dobra, the general manager of Alro, at a meeting with the press on Thursday. Alro Slatina announced in August 2016 that Airbus, the most important European aircraft manufacturer selected Also as aluminium supplier and  signed an accord for several ...

Gov't approved a memorandum for the recovery of the Romanian Post National Company's activity

Wednesday, October 4, 2017

 The Government approved on Wednesday a five-year memorandum for the recovery of the Romanian Post National Company's activity, among the measures included in the strategic plan ranging the increase of revenues through the diversification of products and services and the efficient use of the annual funds received from the Universal Postal ...

Cristina Ienciu (CITR): approximately 3,000 companies  in Romania are on the verge of insolvency

Wednesday, October 4, 2017

Approximately 660,000 companies were active in Romania at the end of 2015 out of which almost 20,000 have assets of over 1 million euro,but almost 3,000 companies at national level are on the verge of insolvency, stated on Wednesday Cristina Ienciu, head of legal at CITR during the conference ‘ Recovery vs.liquidation’. The salvage of the companies in insolvency, important factor for the sustainable growth’ organised by ...

PwC Romania: 72% of the companies say they need at least 6 months for implementation the split VAT

Wednesday, September 27, 2017

Almost three quarters of the companies which take part in a survey made by PwC Romania stated that they estimate they need a term of at least six months to implement the split payment of VAT and less than 2% consider they will manage to do it before 1 January 2018. ‘Taking into consideration the need of the private companies for a longer time to adapt and a possible risk of infringement of the community legislation as regards VAT, as the ...

The minister for Business Environment wants to start the procedures for the companies to get on the international market in 2018

Wednesday, September 27, 2017

The companies which want to benefit from non-refundable funds through the programme of getting on the international market in 2018 could apply starting with November this year on the specific form stated Sterica Fudulea, state secretary in the ministry for the business environment, commerce and entrepreneurship (MIMACA). According to him, there were signed 37 non-refundable financial agreements  in the 2017 edition of the ...

China's WH Group to Buy Romanian Meat Producers in Europe Push

Wednesday, September 27, 2017

The world's largest pork supplier WH Group Ltd said on Tuesday its Smithfield Foods Inc unit would buy two packaged meats manufacturers in Romania, further expanding the Chinese group's operations in Europe, nytimes.com reads quoting Reuters source. U.S.-based Smithfield has agreed to buy a 100 percent stake in Elit SRL and Vericom SRL for an undisclosed sum, the Chinese pork producer said in a filing to the Hong Kong ...

Vasilescu (BNR):  Scarce investment is the great suffering of Romania

Wednesday, September 27, 2017

 Scarce investment is the great suffering of Romania, and although the country's officials want to set up a fund to invest, I feel like things are not going that way, Adrian Vasilescu, strategy consultant with the National Bank of Romania (BNR), told a conference on Monday organised by Bursa ...

Power International Holding and Al-Faisal Holding from Qatar interested to invest in Romania

Wednesday, September 27, 2017

The CEO of Qatar company Power International Holding, Moutaz Al-Khayyat, said in a meeting with the Romanian minister of business environment, Ilan Laufer, that he intends to start an investment in Romania, following the possibility to get as co-investor the biggest investments fund from his country through Qatar Investment Authority, business-review.eu informs. According to a release, during the arrival flight in Romania from business visits in Hong ...

Deloitte Survey: 95 pct of multinational groups’ representatives believe they will be more exposed to tax controls

Wednesday, September 27, 2017

The representatives of the multinational companies present in Romania (95 pct) consider they will be more prone to tax inspections in the future, following the changes brought by the tax base and the artificial transfer of profits to another state (Base Erosion and Profit Shifting - BEPS), reveals an online survey carried out by Deloitte Romania. According to the study, half of the business milieu representatives in Romania (50 pct) consider they will have ...

1 pct of Romanian companies generate over 60 percent of national turnover

Wednesday, September 27, 2017

The report on the distribution of world wealth, according to which 1 percent of the population holds more wealth than the remaining 99 percent is also replicated in the Romanian economy, according to a study by the CITR Group on the evolution of major Romanian companies, business-review.eu reads.  The report shows that Romania has around 640,000 companies, but only one percent of them, namely 6,521 companies generate over 60 percent of the ...

Novares opens first Romanian production plant

Wednesday, September 27, 2017

Novares has opened its first Romanian plant near Pitesti, producing automotive components using plastic injection techniques, days after rebranding from Mecaplast-Key,just-auto.com reads. The Group has established itself in Romania to be close to its main customer, Dacia to support Duster and Logan models, with 40 initial staff planned to rise to 80 by year-end with this number eventually rising to 130. Similar to ...

ONRC: number of newly-established companies increased 13.6 per cent January- August 2017

Wednesday, September 27, 2017

The number of newly-established companies running on foreign capital increased 12 per cent January through August this year, compared with the same period last year, up to 3,952 units, shows data released by the National Trade Register Office (ONRC). The 3,951 new companies had a share capital worth 34.1 million US dollars, up 14.4 per cent compared to January-August 2016. With respect to August 2017, the number of newly-established companies ...

DIY retailer Dedeman to open 10 mln euro store

Wednesday, September 27, 2017

Dedeman said on Friday it plans to open a new store following investment of 10 million euro ($11.9 million) in northwestern Romania on September 27. The store located in Turda, in Cluj county, spreads on an area of 11,500 sq m and employs some 162, the company said in a statement. "After 25 years of Dedeman's existence, we continue to invest in new stores located in smaller cities," company president Dragos Paval ...

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