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Dräxlmaie to suspend activity at the Romanian factories
Wednesday, March 25, 2020
German group Dräxlmaier, which employs about 15,000 in Romania, will suspend activity at the local factories in Satu Mare, Pitesti, Timi?soara, Hunedoara and Brasov, largely due to measures related to preventing the spread of Covid-19 and due to weak demand. Star Assembly, the local division of German group Daimler, the producer of Mercedes-Benz cars, stopped production of gearboxes at its local plant in Sebes last week. The measure was adopted as ...
Labor minister: Over 50,000 labor contracts suspended over the weekend in Romania
Wednesday, March 25, 2020
The number of labor contracts suspended after the companies reduced activity amid the state of emergency declared on March 16 has increased to about 250,000, labor minister Violeta Alexandru said on Monday, March 23. She added that the Government was ready to take new measures depending on how this situation will evolve. The Government has committed to pay from the public budget the technical unemployment benefits for 75% of the ...
Romania among the most attractive markets for US and UK tech companies
Wednesday, March 25, 2020
Romania is among the 30 most favourable markets for US and UK tech firms, based on a wide range of factors, including the availability of skills, complexity of the regulatory landscape, quality of connectivity and infrastructure, GDP growth, and inward investment, business-review.eu reads. Romania has been included on a list of the world’s best markets for tech companies in both the United States of America and the United Kingdom. International ...
AQUA Carpatica pours EUR 20 mln to increase capacity due to high demand
Wednesday, March 25, 2020
Valvis Holding, the group that owns the mineral water brand AQUA Carpatica, has seen a 250-300% increase in sales in recent weeks, the group’s founder and president Jean Valvis, said. He believes the increase hasn’t been fully driven by the rush to build up stocks before worse times amid the coronavirus crisis, but also by increased brand awareness. "We are working at full capacity. We have anticipated this growth ...
Non-food retailers are closing stores in Romania amid Covid-19 restrictions
Wednesday, March 25, 2020
Many non-food retailers in Romania have decided to discontinue operations in their physical outlets and move online, where possible. Polish discount fashion and home decor retailer Pepco, Danish furniture and home decor retailer JYSK, German footwear retailer Deichmann, French sports retailer Decathlon, and French DIY retailer Leroy Merlin are among those who announced on March 23 that their physical stores will be closed in the following ...
Auchan gives its employees bonuses for staying at work
Wednesday, March 25, 2020
French retailer Auchan, one of the leading food retailers in the world, will pay bonuses to all its employees in stores, warehouses and home delivery divisions. Thus, in total, over 65,000 employees at Auchan stores in France will receive a EUR 1,000 bonus because they "have demonstrated exceptional mobilization" by continuing to go to work in the midst of coronavirus outbreaks, the company ...
FinMin Citu: we are ready to offer guarantees so that SMEs have access to working capital with zero interest
Wednesday, March 18, 2020
The executive intends to offer the SMEs guarantees to have access to working capital with zero interest, worth maximum 10 million lei, the positive impact in economy being estimated at almost 70 billin lei, wrote on Sunday night on his Facebook page the minister of finances Florin Citu.He stated on last Saturday that the Romanian economy will need, if the latest estimates regarding economic growth in the EU are valid, a substantial package of financial resources, ...
Schaeffler keeps investing in Romania
Wednesday, March 18, 2020
Schaeffler Romania, a local subsidiary of the German group Schaeffler, has planned for the current year the expansion of its production and logistics capabilities, with an emphasis on increasing productivity and cost efficiency, both in the automotive and industrial sectors. The statement comes in the context of the demand for car parts is expected to ease amid global weaker general demand, including on the car market. Schaeffler also says it will ...
Mobexpert closes shops amid Covid-19 risks
Wednesday, March 18, 2020
Romanian furniture retailer Mobexpert Group, controlled by local entrepreneur Dan Sucu, decided to discontinue the activity for an indefinite period in the context of the Covid-19 epidemic in ...
Sika takes over AdePlast , major Romanian construction materials producer
Wednesday, March 18, 2020
Swiss group Sika, one of the biggest producers of chemical building materials in the world, has received the green light from Romania’s Competition Council to take over AdePlast, one of the biggest Romanian building materials producers. AdePlast owns four industrial platforms located in Oradea, Ploiesti, Roman, and Isalnita, covering all of the country’s regions. It reported a turnover of RON 474 million (over EUR ...
10 tech companies launched by Romanians supporting the community during the Coronavirus outbreak
Wednesday, March 18, 2020
Romanian companies are trying to get the best out of this situation. Moreover, 10 tech scaleups founded by Romanian entrepreneurs have decided to help and make their technology available during this crisis, business-review.eu reads. Xvision Xvision startup offers its technology to help doctors identify the virus faster. We learned from Xvision that rapid diagnosis ...
Changes in the top management team of Nutricia Romania
Wednesday, March 18, 2020
Starting this year, Nutricia Romania, the specialized nutrition business of Danone, announces changes in the top management team. Robert Jasinski was appointed the new Country Manager of Nutricia Romania, while Francisc Kiss, the company’s former Country Manager, was promoted as Global Category and Channel Development Director, based in Amsterdam, Netherlands. Robert Jasinski has more than 15 years of experience in FMCG. He joined Nutricia ...
Applications for microfinance submitted by small entrepreneurs, up 30pct
Wednesday, March 18, 2020
The number of applications for microfinance submitted by owners of small businesses increased at the beginning of March by 30% over the previous months, show data released by a Romanian microfinance fintech platform."After a detailed discussion with them, we find funding solutions that they are not even aware of: many entrepreneurs have bills or IOUs and checks to service, and their small businesses actually need cash. What do I recommend these days in the ...
COVID-19: measures to be undertaken by companies and employees
Wednesday, March 18, 2020
The effects of the epidemics caused by COVID-19 have already started showing in the companies’ business, more and more companies having already taken measures aimed at stopping the spread of the virus and at protecting their employees; by seeking ways to cope with the crisis. Here below, there are some useful measures recommended by specialists that any company may implement in order to limit the impact of the coronavirus on the company’s ...
Kastamonu Entegre earmarks EUR 15 mln for industrial adhesives factory in Romania
Wednesday, March 18, 2020
Turkish wood panel producer Kastamonu Entegre earmarked EUR 15 million for an industrial adhesives plant in Reghin, central Romania. The company plans to build in Reghin a factory of industrial adhesives, with a capacity of 100,000 tons of formaldehyde and 130,000 tons of urea resins and other products, which should cover the manufacturer's need for ...
Bluespace Technology – CN Romarm, winner of tender organized by Romtehnica
Wednesday, March 11, 2020
The association Bluespace Technology and CN Romarm was declared winner of the tender organized on Monday by Romtehnica for building a Type 2 and type 3 shooting ranges, the value of the contract being 25.41 million lei, according to the Ministry of Economy, Energy and Business. “The National Company Romarm, a company from the portfolio of the Ministry of Economy, Energy and Business initiated an ample process of partnerships with ...
Elefant.ro had business figure of 36.2 million euros in 2019
Wednesday, March 11, 2020
The online retailer elefant.ro reported, at the end of 2019 a business figure of 36.2 million euros, on the rise by 25% against the same period of 2018, according to the company report released on Monday. At the same time, the company reduced losses from 2.9 million euros in 2018 to 1.4 million euros last year, counting on positive EBITDA of 500,000 euros in 2020. “2019 was a year of business consolidation for elefant.ro. ...
ONRC: Company dissolutions, up almost 9 pct in January 2020
Wednesday, March 11, 2020
The number of dissolved companies increased by 8.98 pct, in January 2020, compared to the same period of the previous year, to 2,730, compared to 2,505 companies in January 2019, according to data centralized by the National Trade Register Office (ONRC).The field of activity that registered the most dissolutions of companies in January 2020 is wholesale and retail trade; repair of motor vehicles and motorcycles, where there were 784 dissolutions at national level. ...
Pink Post, turnover worth 17.5 million euro, in 2019
Wednesday, March 11, 2020
The turnover of postal service operator Pink Post reached 17.5 million euro, in 2019, an increase of 5 pct over the previous year, and in the ten years of activity the total contribution to the state budget totals 29.4 million euro, according to the financial results of the company, published on Thursday.At the level of last year, Pink Post conducted 108 million postal consignments, the equivalent of nearly 30 pct of the total envelopes mailed at the national ...
Report: Romania, 54th out of 98 countries worldwide on knowledge in a global engineering capability
Wednesday, March 11, 2020
Romania ranks 54th out of 98 countries worldwide on knowledge in a global engineering capability survey conducted by the Economist Intelligence Unit in the attempt of examining the critical gap talent and its implications for innovation and safety. The recent report, “The Global Engineering ...