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EU to provide EUR 2 billion for innovative startups and SMEs in 2019-20

Wednesday, March 20, 2019

Startups and small and mid-sized enterprises (SMEs) in EU member states, including Romania, will be able to access EU funds totalling EUR 2 billion in 2019 and 2020, according to a press release by the European Commission. As it wants to become a global champion in new markets based on innovation, the European Commission is creating a European Innovation Council (EIC) to turn Europe’s scientific discoveries into businesses than can scale up faster. Currently in its pilot phase, ...

Infosys opens a Digital Innovation Center in Bucharest

Wednesday, March 20, 2019

Infosys, one of the global leaders in consulting and state-of-the-art digital services and also one of the biggest companies in India, announced the opening of a Digital Innovation Center in Bucharest, with a ceremony attended by government officials and academics. The center will focus on developing projects for customers who need cutting-edge digital technologies, including Cloud, Big Data, Artificial Intelligence and Automated Learning. The center was opened in The Mark building ...

Ibanesti cheese producer Mirdatod Prod to invest EUR 7 million in new factory

Wednesday, March 20, 2019

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Mirdatod Prod, the company in Mures County that owns the Telemea de Ibanesti brand, controlled by brothers Mircea and David Todoran, will increase its production capacity this year through a EUR 7 million investment for a new factory, using EU funds, according to Ziarul Financiar. The company is also planning to develop new products and expand its distribution network. Currently, the products are sold through horeca partner – mostly ...

Zentiva Group, Siyiara Enterprises ake over Romanian company Solacium

Wednesday, March 20, 2019

Zentiva Group and Siyiara Enterprises have signed a sale contract to buy Romanian-based Solacium, together with its subsidiary Be Well Pharma. Solacium is currently part of the Dr. Maz group and owned by Siyiara Enterprises together with Trasca Alexandru-Tony. „Zentiva is happy to announce the first acquisition after the separation from Sanofi in the last quarter of 2018. Solacium completes our generic medicines business and helps us develop the OTC division and the offer ...

UiPath may soon become most valuable startup in AI with possible USD 7 bn valuation

Wednesday, March 20, 2019

Robotic Process Automation (RPA) company UiPath, founded by Daniel Dines and Marius Tirca in Bucharest, is reportedly in talks to obtain a major new financing round that could take the company’s valuation to USD 7 billion, more than doubling the current value, according to Business Insider quoted by http://business-review.eu. The valuation is not yet very ...

ABSL Report: The EUR 4 billion outsourcing industry is employing 125,000 people, but has a potential of 300,000

Wednesday, March 20, 2019

Business Service Leaders Association (ABSL) launches the annual salary and benefits report for employees in the outsourcing industry. Among other findings, the report shows that the salary for the entry level of employees with no industry experience can in many cases be up to 30 percent higher compared to the economy minimum of higher education employees. The study conducted in partnership with KPMG examines seven processes / types of items in the ...

Over 513,000 women were shareholders or associates to the companies in Romania at the end of January

Wednesday, March 13, 2019

The number of  women shareholders  or associates in the companies in Romania was,at the end of January 2019 of 513,195, a share of 37,44%, a total of shareholders or associates says the data of the National Office of the Commerce Register (ONRC).According to the presented data,the male shareholders or associates were  a total of 857,384 (share of 62.56%) in the 936,706 active companies of Romania. At the same time, the total number of ...

Many SMEs  in Romania will be affected by Brexit and they have no backup plans

Wednesday, March 13, 2019

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Many small and medium-sized entreprises (IMM) in Romania will be affected by the exit of the UK from the European Union, and SMEs, by comparison to the big entreprises have no backup plans for this situation, said on Tuesday night the adviser in the Ministry for Business environment,commerce and entrepreneurship (MMACA) Bogdan Mihailescu.According to his opinion, the Romanian SMEs do not take into consideration the Brexit.‘We  had a survey ...

TAROM- 25% business increase in January 2019

Wednesday, March 13, 2019

National air operator TAROM reports a 25% business increase in January 2019 compared to the same period of 2018 and announced incomes higher by 19 million lei. “The number of passengers transported by TAROM grew by 17% in the same period analysed,” says a TAROM press release. The company also announces a plus of 19 million lei in January 2019, compared to the same period of 2018 to the overall income chapter. For ...

Competition Council authorises takeover of Belladona pharmacies by Sensiblu

Wednesday, March 13, 2019

The Competition Council authorised the transaction by which Sensiblu took over 46 drug stores belonging to Belladona group. Sensiblu activates in the retail trade market of pharmaceutical and para-pharmaceutical products, also carrying out occasional distribution activities. The company is part of the group of companies controlled by Penta Investments, a group specialised in long term investments in different sectors. Penta ...

PwC poll: Half of companies faced fiscal inspections in 2018

Wednesday, March 13, 2019

About a quarter (22%) of the 139 companies in Romania participating in a PwC poll faced fiscal inspections in 2018, while 56% of those who received negative  or partially favorable solutions in contesting documents chose to go to court to solve the matter, a press release of the company released on Thursday shows. According to the poll, inspections made by the Fiscal Anti- fraud Department were, in the first 9 months of 2018, 45% more compared to ...

Eurostat: Community Innovation Survey: latest results - Romania, on the last place

Wednesday, March 13, 2019

The full results of the Community Innovation Survey 2016, which contains a broad set of indicators on innovation activities of enterprises, are now available in the Eurostat online database. In a nutshell, in the European Union (EU) around half (51 %) of the enterprises of 10 employees or more reported innovation activity during the period 2014-2016, slightly more than in the period 2012-2014 (49 %). The share of innovative enterprises increased or ...

Victoria’s Secret to open store at Baneasa Shopping City

Wednesday, March 13, 2019

Victoria’s Secret will open a store in Romania in Baneasa Shopping City in the last quarter of this year, where the entire range of branded products will be traded, romaniajournal.ro reads. Baneasa Shopping City announces that the opening of Victoria’s Secret’s first store in Romania is scheduled for the last quarter of this year, digi24.ro informs. The store will have an area of over 500 square meters and will ...

Romanian Startup Barometer by EY Romania

Wednesday, March 13, 2019

Mentality and fear of failure rank first in the top barrier for those who want to start and develop a business in Romania, according to the Romanian Startup Barometer by EY Romania, Impact Hub Bucharest and Startarium. Poor education, fiscal uncertainty, and the current political situation are ranked second, with 12 percent of entrepreneurs questioned in the survey. Compared with the previous edition, there is an improvement in perceptions about ...

Consul Hans E. Tischler: German companies feel good in Transylvania, want to stay

Wednesday, March 13, 2019

German Consul Hans E. Tischler said on Thursday that the German investors in Transylvania intend to maintain their businesses because they feel good here.Hans E. Tischler said he visits very often German companies in all of Transylvania and finds that German companies still feel good here and want to stay.According to the cited source, over the past 12 years, German firms have created hundreds of thousands of jobs in Transylvania."Since ...

Business forum 'Romania-Italy, restoring investor confidence in the Romanian economy'

Wednesday, March 13, 2019

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The Bucharest Chamber of Commerce and Industry (CCIB) could set up representative offices in the European countries with a strong Romanian community, such as Italy, CCIB Chairman Sorin Dimitriu said on Thursday at the business forum 'Romania-Italy, restoring investor confidence in the Romanian economy'."Today's event is part of a partnership strategy aimed at presenting the attractiveness of the Romanian business environment. There is something specific about the ...

Aerostar becomes a component supplier for the Patriot missile manufacturer

Wednesday, March 6, 2019

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Raytheon Company has issued a purchase order to Aerostar for work on the Patriot® Air and Missile Defense System. This makes Aerostar a member of Raytheon’s global supply chain and with potential opportunity to export and sell to the 15 other ...

15,640 business entities registered in Romania in Jan. 2019

Wednesday, March 6, 2019

The number of business entities, natural and legal persons combined, registered in Romania in January 2019 increased by 58.33pct, y-o-y, to 15,640, of which 83pct were limited liabilities, according to the data centralised by the National Institute of Statistics (INS).Most of the registrations were done in Bucharest City - respectively 1,397 (down 3.99pct y-o-y) and in the counties of Timis - 807 (up 88.55pct), Iasi - 679 (up 104.52pct) and Prahova - 649 (up 99.6pct). At the ...

EY : 70 percent of companies expect partial business sale in the next 12 months

Wednesday, March 6, 2019

Selling businesses seems to be one of the top choices of this period according to EY’s Global Corporate Divestment 2019 study. 84 percent of companies are planning partial business sales by 2021, up from 43 percent two years ago, while 81 percent say optimizing operational models will have a noticeable impact on sales plans over the next 12 months and 70 percent expect sales of high impact assets on the business, rising from 50 percent in 2018. Companies are planning partial ...

Carrefour Romania posts record sales for 2018

Wednesday, March 6, 2019

French retailer Carrefour, the operator of Europe’s largest hypermarket chain, obtained revenues in 2018 that were 6 percent higher than in the previous year, reaching a new record value of almost EUR 1.9 billion, according to profit.ro. Carrefour’s local store network grew  by almost 40 units last year, having reached a total of 360, of which 35 are hypermarkets, 261 are supermarkets, 51 ...

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