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Competition Council hands down sanctions worth 93 million euro in 2018

Wednesday, February 6, 2019

The Competition Council handed down fines worth a total of 435 million lei (93 million euro) in 2018, this being the second year with the highest fines in the history of the institution, President of the Competition Council Bogdan Chiritoiu told a news conference on Tuesday.By comparison, in 2017, there were handed down fines worth 123 million lei."It was a year with a very intense activity, the second year in terms of the level of sanctions in the ...

Number of newly-established companies running on foreign capital down 2.64 pct in 2018; share capital up 18.2pct

Wednesday, February 6, 2019

The number of newly-established companies running on foreign capital decreased by 2.64 per cent in 2018 against 2017, to 5,683 units, according to data centralized by the National Trade Register Office (ONRC).The 5,683 newly-established companies had a share capital worth a total of 47.559 million US dollars, up 18.2 per cent against 2017.According to the ONRC, in December 2018 there were registered 477 companies running on foreign capital, most of ...

Grants between EUR 1 and 5 million for Romanian companies through Regional Operational Program 2.2

Wednesday, February 6, 2019

Romanian companies are now able to access grants between EUR 1 and 5 million through the Regional Operational Program 2.2, http://business-review.eu informs. The companies must have between 3 and 249 employees and have registered profit in 2018. All info and the Applicant’s Guide are available on the Inforegio website (inforegio.ro).  The procedure was simplified for the March – April 2019 ...

Camicissima, Italian shirt brand for men enters Romania

Wednesday, February 6, 2019

Camicissima, a renowned Italian man shirts brand is entering the Romanian market by opening  stores in three shopping centers in Bucharest. The new stores present the 2018-19 fall-winter collection. The first stores in Romania will be located in Park Lake Shopping Center, Plaza România and Mega Mall. The brand will expand in other three stores by the end of this year. Camicissima is a brand comprising high-quality ...

WDP posts net result of EUR 328.8 million for 2018

Wednesday, February 6, 2019

Belgian real estate developer WDP (Warehouses de Pauw) recorded in 2018 a net result of EUR 328.8 million at the group level, driven in part by an increase of EUR 208.3 million in the underlying value of its property portfolio. The developer owns over several warehouses around Romania, with a total of over 300,000 square meters. The occupancy rate at the end of 2018 was 97.5 percent and the duration of the lease contracts is 5.8 years. The value of ...

Over 90% of the companies in Romania say we are not ready to cope with financial crisis

Wednesday, February 6, 2019

The fiscal and legislative uncertainties of the past year have affected the investment plans of 57% of the companies based in Romania, according to a EY Romania barometer. 92% of the respondents think that Romania would be “totally unprepared” or “unprepared” if a financial crisis similar to the one ten years ago took place. 47% of the surveyed businessmen are distrustful and very distrustful of the ...

CMS survey : Romania ranks 5th on value of transactions in the region

Wednesday, February 6, 2019

The most recent CMS survey, Emerging Europe Mergers and Acquisitions 2018, completed in collaboration with EMIS, shows that the UK has been the largest foreign investor in emerging Europe in terms of value with EUR 9.77 billion, whereas the US has been the largest in terms of volume – 89 transactions in 2018. The value of transactions in emerging Europe reached a total of EUR 80.5 billion in 2018. Romania ranks 5th in the ...

Dent Estet opens two new clinics in Sibiu following EUR 2 M investment

Wednesday, February 6, 2019

Dental group Dent Estet has recently opened two clinics in Sibiu, one for adults and one for children, reaching ten dental units overall. The investment value in the two clinics mounts to almost EUR 2 million, the highest investment in the dental clinic sector in Sibiu and in the region. The clinics are equipped with the only radiology center integrated in a clinic in Sibiu, 100% digitised, a digital photo studio, a training ...

Number of firms registered in Bucharest drops for the first time in 2018

Wednesday, February 6, 2019

The number of limited liability companies (SRL) registered in Romania between October and December 2018 increased by about 43 percent compared to the same period of 2017, but dropped in Bucharest for the first time since 2014 by 3.76 percent, according to data from the National Trade Registry Office. In the last quarter of 2018, a total of 27,673 limited liability companies were registered across Romania. The biggest growth rates were recorded in ...

Metro Cash & Carry posts largest turnover growth in 12 years for 2018

Wednesday, February 6, 2019

German retailer Metro Cash & Carry, which has been on the Romanian market for more than two decades, recorded a 10 percent turnover growth in 2018 to EUR 1.08 billion – the biggest growth of the past 12 years, http://business-review.eu informs. The growth was organic, as the company did not open any new own stores in 2018, when private consumption increased by 5 percent and inflation reached 4 percent ...

Hexi Pharma forced to pay damage worth approx. 125 million lei to hundreds of hospitals

Wednesday, February 6, 2019

 The Bucharest Court ruled on Wednesday that Hexi Pharma pay a damage of approximately 125 million lei, representing the value of non-compliant biocidal products purchased by hundreds of hospitals around the country, in the criminal case in which Director of the company Flori Dinu was sentenced to three years in prison.According to the court ruling, Hexi Pharma was forced to pay 89 million lei (82 million lei and 1.5 million euro) to 128 hospitals, which ...

Over 34,000 companies dissolved in 2018, up 10.13pct from 2017

Wednesday, February 6, 2019

The number of dissolved companies increased by 10.13pct in 2018, to 34,358 units, compared to 31,197 companies in the previous year, according to data centralized by the National Trade Register Office (ONRC).The field of activity which recorded the most company dissolving in the first 11 months of 2018 is wholesale and retail trade, repair of motor vehicles and motorcycles, where 10,788 dissolutions were registered at national ...

Number of insolvencies drops in 2018, while suspensions, deregistrations up from 2017

Wednesday, January 30, 2019

The number of commercial companies and authorized persons that filed for insolvency dropped by 8.77pct in 2018 compared to the same period of the previous year to 8,304, according to the data posted on the website of the National Office of Trade Register (ONRC).Most of the companies and authorized persons in insolvency were registered in Bucharest, respectively 1,637, down 17.66pct over the same period in 2017. The hierarchy continues with the counties of Bihor - ...

Claudio Cisullo extends his investment portfolio on the Romanian real estate market

Wednesday, January 30, 2019

The Swiss investor Claudio Cisullo extends his investment portfolio on the Romanian real estate market by entering the luxury residential market, the company said on Tuesday. The investor is operating in Romania through the company ACC Investments SRL. “Romania is a dynamic country with an excellent return for investors. The real estate sector is appealing, I’ve been watching it for some time, and I’m convinced ...

Some 505,000 women were shareholders, associates in companies in Romania, at end-Nov 2018

Wednesday, January 30, 2019

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The number of women shareholders or associates in Romanian companies was 505,375 at the end of November 2018, accounting for 37.35pct of the total number of shareholders, according to data from the National Trade Register Office (ONRC).Men shareholders were 847,749 (62.65pct share) in the 921,221 active companies in Romania.The total number of individual associates / shareholders was over 1.353 million in the mentioned period.Statistics on ...

Radisson Hotel Group gets new GM

Wednesday, January 30, 2019

Sonja Dive-Dahl has been appointed general manager of Radisson Blu and Park Inn by Radisson hotels in Bucharest, the Radisson Hotel Group announced. She will manage the 487-room Radisson Blu Hotel, Bucharest and the 210-room Park Inn by Radisson Bucharest Hotel & Residence. Sonja Dive-Dahl joins the team from Malmö, Sweden, where she was recently the general manager of the Radisson Blu hotel and also acted as ...

German Zeitfracht wants stake in Romania’s Blue Air

Wednesday, January 30, 2019

Berlin-based logistics group Zeitfracht Group announced that it wants to buy shares in the Romanian low-cost airline Blue Air and has already applied for approval from the German competition body Bundeskartellamt to pursue this deal. The project was filed on January 14 for merger control, a Bundeskartellamt spokesman ...

Almost 19,000 entrepreneurs have already applied for Start-up Nation

Wednesday, January 30, 2019

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The Start-up Nation 2018-2019 program has been accepting business projects for almost a month now, even though the state budget for this year has not yet been passed. Business plan submissions started on December 27 will end on February 12, and so far 18,767 files have already been submitted, according to startupcafe.ro. Entrepreneurs who want to open a business can obtain non-refundable funds up to RON ...

Webhelp Romania aiming for EUR 10 million turnover growth, 500 new employees in 2019

Wednesday, January 30, 2019

Romania’s outsourcing market, which recorded two-figure growth in a year, will attract new investments and generate new jobs in 2019, a year full of challenges. After a 2018 that repositioned Romania on the map for Webhelp, the largest European BPO provider, the company is aiming for a EUR 10 million growth in its turnover on the local market for 2019. In 2018, the group’s turnover grew by EUR 2 million, and ...

Telekom Romania announces new Legal and Corporate Affairs Director

Wednesday, January 30, 2019

Telekom Romania has announced on Friday that Florina Tanase is taking over the Legal and Corporate Affairs Director position, as of January 25th 2019. From this position, Florina Tanase will coordinate the legal, regulatory, security and personal data protection activities of Telekom Romania group of companies, reporting directly to the general manager of Telekom Romania. Florina Tanase has a 14 year experience in executive management positions, ...

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