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Karaca, the largest Turkish household appliance retailer, enters Romanian market
Wednesday, July 11, 2018
Karaca, Turkey’s largest household appliance retailer, has entered the Romanian market by opening a branch and has already begun signing contracts for stores in major shopping centers in Bucharest, such as AFI Cotroceni and Mega Mall, http://business-review.eu informs. Karaca Europe, headquartered in Istanbul, includes the Karaca, Karma Home, Emsan, Cookplus & Apricot brands and has its main stores in ...
Electroarges reaches 60.5 percent stake in Brainconf Braila shares
Wednesday, July 11, 2018
The home appliance manufacturer Electroarges announced that it has become the majority shareholder in textile manufacturer Braiconf, with a 60.5 percent stake, http://business-review.eu informs. At the same time, the New Carpathian Fund has publicly announced that it is no longer a shareholder in the textile company, after it sold the 33 percent of Braiconf’s shares it owned. Braiconf’s market value ...
Dacia increases production in Romania by 3.2 pct in H1 to 175,992 cars
Wednesday, July 11, 2018
Carmaker Dacia, controlled by French group Renault, has increased its production at the local plant in Mioveni by 3.2 percent in the first half of this year compared with the same period of 2017, up to 175,992 vehicles, according to the Association of Automobile Constructors in Romania (ACAROM) quoted by http://business-review.eu. The model with the highest production was Dacia Duster (118,156 units), followed by Dacia Sandero (27,066 units), Dacia ...
Wienerberger drops plan to buy Romanian brick producer Brikston
Wednesday, July 11, 2018
Austria's Wienerberger has abandoned its plan to acquire Romanian brick producer Brikston Construction Solutions International from private equity fund ADM Capital in order to grow its Romanian business organically, Wienerberger said on Friday, quoted by seenews.com. The Austrian-based building materials producer has also withdrawn the application submitted to the Romanian anti-trust authority, it said in a press release. The ...
Francisca Hogescu-Lebrun is the new General Manager of Xerox Romania
Wednesday, July 11, 2018
Francisca Hogescu-Lebrun was appointed as the new General Manager of Xerox Romania, replacing Gabriel Pantelimon at the head of the business operations as of the start of July, the company informs in a statement sent to ACTMedia. Gabriel Pantelimon, who has managed the Xerox business in Romania since 2010, for the past 8 years, will take over the position of General Manager of Xerox Corporation’s Turkish subsidiary. For the ...
Carrefour brings new expat to manage operations in Romania
Wednesday, July 11, 2018
French executive Jean-Baptiste Dernoncourt will leave the helm of retailer Carrefour Romania after five years during which he almost doubled its business, to EUR 2 billion, romania-insider.com reads. The French group will name another French executive in his place, Jean Richard de Latour, 36, who has been working in the group since 2013, according to sources quoted ...
Deliveries of retail, industrial and office projects, to increase by 53 pct in 2018
Wednesday, July 11, 2018
The real estate market is registering a significant growth in pipeline volumes at the half of the year, the announced deliveries of new retail, offices and industrial space for 2018 being 53 percent larger compared to the previous year at national level, according to a study of Activ Property Services consultants, http://business-review.eu reads. „The retail, office and industrial markets are developing on ...
BearingPoint opens in Iasi its fourth Romanian office
Wednesday, July 11, 2018
Management and technology consulting company BearingPoint continues its development on European markets by opening a fourth office in Romania, in Iasi, http://business-review.eu informs. The move is aligned with the company’s strategic development initiatives. Iasi, one of the largest ...
EAU-based Al Dahra aquired Agricola Braila, the largest agricultural producer in Romania
Wednesday, July 4, 2018
Investment Fund Al Dahra Holding took over Agricola Braila, the largest agricultural producer in Romania, owned by the entrepreneur Constantin Dulute, in a deal announced from the beginning of the year and estimated at over EUR 230 million euros, http://business-review.eu informs. According ...
CBRE, the first real estate consultant in Romania to exceed EUR 10 million turnover after 2009
Wednesday, July 4, 2018
The real estate consultant CBRE is the first real estate consultant in Romania to exceed the EUR 10 million turnover threshold after 2009, http://business-review.eu reads. At the end of 2017, the company registered business worth EUR 12.6 million, RON 57 million, and a profit of about EUR 1.5 million, almost RON 7 million. The turnover of the company grew more than 33 percent compared ...
Tripsta suspends activity, almost 100 employees affected in Romania
Wednesday, July 4, 2018
Greek tourism group Tripsta, which controls air ticket selling agencies Travelplanet24 and Airtickets, will suspend its activity after it accumulated over EUR 70 million debts to airlines. The group will close its office in Romania, leaving close to 100 employees without jobs, market sources told ...
Only 10% of Romania’s SMEs are eligible for bank loans
Wednesday, July 4, 2018
Only 10% of the small and medium enterprises (SMEs) in Romania are eligible to contract bank loans, but the situation could improve if they increase productivity, said Florin Danescu, president of the Romanian Banks Association (ARB), quoted by romania-insider.com. About 80,000 local SMEs have contracted loans so far, whereas only 45,000 (10.4% in total) currently qualify for a credit, Danescu pointed out. The Romanian SMEs are ...
Number of insolvencies up 12pct, Jan.-May; suspensions and dissolutions up 30.81pct, 59.49pct, respectively
Wednesday, July 4, 2018
The number of companies and registered sole traders (PFA) facing insolvency increased by 11.97 percent in the first five months of this year, compared to the similar period of 2017, reaching 3,686 units, the data published on the site of the National Trade Register Office (ONRC) reveals.Most of the companies and registered sole traders facing insolvency are from Bucharest, namely 737 (+2.50 percent compared to the same period of 2017), followed by Bihor County ...
Competition Council fines MedLife for competition breaches
Wednesday, July 4, 2018
Romania’s Competition Council has fined the biggest local healthcare service provider, MedLife, with RON 865,000 (EUR 186,000) for breaching competition rules. The amount represents about one fifth in the group’s net profit in the first ...
Eurostat is asking: How many people work in small enterprises?
Wednesday, July 4, 2018
Only 0.2 % of enterprises in the EU are large… In the EU in 2015, a total of 23.5 million non-financial enterprises existed, 98.7 % of which were small (0-49 employed persons), 1.0 % were medium (50-249 employed persons) and only 0.2 % were large (250 employed persons and over). Among small enterprises, the ones that had less than 10 persons employed accounted for 93 % of the total number of enterprises. Among the ...
EU OKs EUR 100 mln takeover of Help Net, Farmexim by Phoenix
Wednesday, July 4, 2018
The European Commission (EC) has approved the takeover of the pharmacies network Help Net and of the pharmaceuticals distributor Farmexim by German group Phoenix, romania-insider.com informs. The deal was evaluated at over EUR 100 million, according to media sources. The Commission did not identify any competition issues arising from the takeover, as the companies involved had “modest” market ...
Romanian shipyard builds EUR 527 mln ships for Norwegian Defense Agency
Wednesday, July 4, 2018
Norwegian shipbuilder Vard has been awarded a contract to build three coast guard vessels for the Norwegian Defence Materiel Agency, omania-insider.com reports. The value of this contract is some EUR 527 million. The hulls of the three vessels will be built at Vard’s shipyard in Tulcea, Romania. The ships will then be equipped and delivered by the Vard Langsten shipyard in Norway, starting ...
Finance Ministry to lower minimum investment threshold for companies applying for state help scheme from EUR 10 mln to EUR 3 mln
Wednesday, July 4, 2018
The Finance Ministry has proposed a reduction of the minimum investment threshold needed for a company to be able to receive state help from EUR 10 million to EUR 3 million, in order to allow small companies – and Romanian companies in particular – to be able to benefit from financial support to develop their business, http://business-review.eu informs. Finance minister Eugen Teodorovici announced ...
Posta Romana prepares app for online payment of fines and taxes
Wednesday, July 4, 2018
Posta Romana - the Romanian Post - intends to develop an application that should ease online payments of fines, taxes and other contributions on its own website. The application should facilitate payments for both locals and Romanians abroad. The Post will collaborate with the tax authority ANAF for regulating access to treasury’s accounts, ...
Gregory's enters the Romanian market and opens its first location based on the concept of coffee & Greek deli
Wednesday, July 4, 2018
* The company aims to expand its network in Romania to 80 units over the next 5 years According to a press release sent to ACTMedia, Gregory's, the largest network of coffee & Greek delis from Greece, announces its entry into the Romanian market with the opening of a unit in the northern area of Bucharest. The unit, operational from the beginning of July, offers its customers a wide variety οf coffee and food selections made from ...