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Only 1,392 insolvencies reported by Trade Register, January through April 2020
Wednesday, June 3, 2020
The number of companies and authorised individuals (PFA) that became insolvent decreased by 32.72pct in the first four months of 2020, compared to the same period last year, to 1,392 insolvencies, according to data published on the website of the National Trade Register Office (ONRC).Most companies and PFAs that became insolvent were registered in Bucharest, respectively 143, down 60.93pct versus to the period January-April 2019. The following places in the ...
Survey : Almost two thirds of Romania's companies didn't cut employees costs during emergency state
Wednesday, June 3, 2020
Almost two thirds (65 percent) of Romania's companies didn't implement measures to cut back costs with employees during the two months of the state of emergency, the data included in the PwC Romania HR Barometer and published on last Wednesday informs.According to the survey, the companies which decided to cut back costs have adopted a mix of measures which they implemented differently to employees depending on their positions, generally being targeted the ...
Bosch announces the Annual Financial Results 2019 in Romania
Wednesday, June 3, 2020
Consolidated sales in Romania amount up to over 2 billion lei (436 million euros) in 2019 Total net sales grew by 18 percent in 2019 to 6.7 billion lei (1.4 billion euro) Investment of more than 360 million lei (over 76 million euros) in 2019 Bosch global supplier of technology and services ended its 2019 fiscal year with over 2 billion lei ...
New anti-fraud technology solutions emerge, but companies must ensure cooperation between compliance and anti-fraud departments
Wednesday, June 3, 2020
A typical fraud case lasts 14 months before detection and causes a loss of over USD 8,000/month, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. When considering today’s financial landscape, where transactions happen under one second, and the current age of economic turmoil that COVID-19 has caused on a global scale, these challenges and risks become all the more threatening, underlined Deloitte Romania and SAS experts in a ...
Cristian Deaconu is the new Sales Director of Schneider Electric Romania & Moldova
Wednesday, June 3, 2020
The month of June comes with an important change in the Schneider Electric team. Starting with the 1st day of the previously mentioned month, Cristian Deaconu will take over the Sales Director role at the company, a position which was previously held by Lucian Enaru, who also serves as the company’s General Director. Cristian Deaconu has 10 years of experience with Schneider Electric, having occupied several management positions during his ...
Rosti leases space for second factory in Romania
Wednesday, June 3, 2020
Sweden's Rosti Group has leased 11,300 sq m of industrial space in Romania where it plans to build its second plastic injection moulding factory in the country, property and investment management services provider Jones Lang Lasalle (JLL) Romania said on Tuesday. The construction of the new production facility in Paulesti, near the southern city of Ploiesti, which was announced by Rosti at the end of last ...
Continental will invest 33 million euro to expand research-development center in Timisoara
Wednesday, June 3, 2020
Continental has started works to expand the research and development center in western Timisoara, the planned investment in the new building being 33 million euro, according to a release of the company sent on Tuesday.The building was designed for a capacity of over 1,700 seats, as well as a complete area for testing and validation of products of the company. The total built surface will be over 26,000 square meters, and the works will be completed until April ...
Dedeman to develop EUR 25-30 mln logistics park in Bacau
Wednesday, June 3, 2020
Dragos and Adrian Paval, the owners of local DIY retail chain Dedeman, continue their collaboration with local investor Ionut Dumitrescu. The three investors will develop a logistics park near Bacau after they initially collaborated to build the ELI Park 1 logistics park near Bucharest. The company Paval Holding, owned by Dragos and Adrian Paval, took over 80% of Eli 6 Industrial, the investment vehicle set up by Ionut Dumitrescu for developing the ...
Renault might relocate research and development activities out of RO
Wednesday, June 3, 2020
The activity of Renault Techologie Roumanie (RTR), the primary research and development center for the Renault group's entry platform - used for the Logan, Sandero, Duster, Lodgy and Dokker models, is called into ...
Bittnet becomes the first IT Company to enter BVB S main market 5 years after listing on AeRO
Wednesday, June 3, 2020
Bittnet shares will start trading on BVB’s Regulated Market on June 3rd, five years after the listing on the AeRO market of the Multilateral Trading System (MTS) of the Bucharest Stock Exchange (BVB). Bittnet thus becomes the first IT issuer present on BVB’s Main Market. “Bittnet is an example to be followed by most companies in Romania, it is a story of accelerated growth on the stock market, that accessed all the development ...
Sercin Giray is the new Managing Director of Bayer Romania
Wednesday, June 3, 2020
As of June 1st, 2020, Sercin Giray takes over the lead of Bayer Romania, Bulgaria and the Republic of Moldova from her predecessor Pascal Cassecuelle, who will continue his activity as Head of Supply Chain EMEA for our Cropscience Division. Sercin Giray is now the new Senior Bayer Representative for the Romania, Bulgaria and Republic of Moldova Country Group and Managing Director of Bayer Romania, adding up to her current responsibilities as CFO for ...
Coronavirus pandemic spurs reduction in steel production in Liberty Steel Group by 20-30 pct
Wednesday, May 27, 2020
The Liberty Steel Group estimates a reduction of steel production by 20-30 pct, for a period of at least three months and at most a year, reduction which will also affect Romania, announced, on Monday, in Galati (southeast), during a press conference, Sanjeev Gupta, executive chair of GFG Liberty Steel, which also has in its portfolio the steelworks in Galati.Sanjeev Gupta mentioned however that the level and value of ...
Happeo opens office in Cluj-Napoca
Wednesday, May 27, 2020
Finnish startup Happeo, a provider of intranet services for companies, is preparing to enter Romania, with an office in Cluj-Napoca, for which it has already started recruiting. The company has attracted USD 12 million in a Series A financing round led by investment fund INKEF Capital. It will use the money to accelerate product development and expand its teams in the Netherlands, Finland, Romania, and the ...
EBRD launches research hub for listed SMEs in six markets, including Romania
Wednesday, May 27, 2020
The European Bank for Reconstruction and Development (EBRD) has launched a program under which it will provide free research reports about listed companies in six countries, including Romania. The program aims to increase the exposure of medium-sized listed companies in the selected countries. Funded by the TaiwanBusiness-EBRD Technical Cooperation Fund, the program will provide coverage by analysts for several medium-sized ...
Ideologiq - 40% increase in turnover in 2019
Wednesday, May 27, 2020
With over 15 years of experience in digital communication, Ideologiq agency reports a 40% increase in turnover in 2019 compared to 2018. In the current context, Ideologiq had a positive financial evolution in the first quarter of 2020, due to both an increased number of clients compared to the 2019 portfolio and to the fast adjustment to the new market context. “The speed of the change in the digital field is extraordinary and this is the aspect ...
Bonami sales in April reach EUR 6 million, exceeding expectations
Wednesday, May 27, 2020
Bonami, the online store with furniture and decorations, exceeded the initial forecast for April, achieving sales of EUR 6 million in all markets where the company is present, of which EUR 1 million on the Romanian market. ”Even though the growth was initially slower, since mid April sales have followed a steady upward trend. In percentage, Bonami achieved sales 30 percent higher last month than in March, when the pandemic crisis broke out. We ...
Bittnet Systems to move to the primary market of Bucharest Stock Exchange
Wednesday, May 27, 2020
Romanian tech group Bittnet Systems is the first company to move from the alternative trading system AeRO to the primary market of the Bucharest Stock Exchange (BVB). Its shares will start trading on the regulated market on June 3. BVB approved the transfer on Monday. Bittnet Systems (BNET) is a local integrator of I&C solutions and a provider of training services. The company has a market ...
SMEs ask Govt. for clear economic reconstruction calendar
Wednesday, May 27, 2020
The National Council of Private SMEs in Romania (CNIPMMR) has asked the Government to quickly come out with the promised package of measures for economic recovery and set clear deadlines and budgets for each objective. Such an outline would ensure the stability and predictability of the business environment. It would also clarify the drivers of the economic recovery and development over the next period, given that the COVID-19 pandemic has affected the ...
Energy-intensive companies to get EUR 291 mln state aid
Wednesday, May 27, 2020
Some 170 Romanian electricity-intensive companies will get state aid worth around EUR 291 million, related to their electricity consumption in ...
GreenWEEE develops first LCD, LED screen recycling unit in region
Wednesday, May 27, 2020
GreenWEEE, a Romanian company operating on the waste electrical and electronic equipment treatment and recycling market, has inaugurated the first line for recycling TVs and equipment containing flat screens - LCD, plasma and LED, in Central and Eastern Europe. The new facility required an investment of EUR 500,000. "The new line will allow the treatment of over 2,500 tonnes of televisions and equipment containing flat screens ...