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Microsoft Romania CEO: 80 percent of companies are having trouble with workforce

Wednesday, November 7, 2018

Microsoft’s Business Summit opened with the speech of Philippe Rogge, vice-president for the CEE region, who talked about the future of business in Romania and in the world, http://business-review.eu reports. Digitization and Artificial Intelligence are the determining pillars of change and it is very important for everybody to follow and adopt the changes if they are not to be left behind. The use of ...

Competition Council approves transaction between Unilever and Betty Ice

Wednesday, November 7, 2018

Unilever announced that the Romanian Competition Council approved the agreement for Betty Ice on the basis of its commitments, making Betty Ice became the newest member of the Unilever family. The Betty Ice Company was founded in 1994 by Romanian entrepreneur Vasile Armenean and has become the most important local ice cream producer in Romania with a total turnover of EUR 30 ...

Dr. Leahu Clinics to invest EUR 10 mln in network expansion over the next three years

Wednesday, November 7, 2018

Doctor Ionut Leahu, a dental implant specialist and owner of Dr. Leahu Clinics, is planning to allocate over EUR 10 million over the next three years to extend his clinic network in the country. The investment will target the opening of 20 new clinics and the purchase of the necessary equipment stock, but it could double if we take into account the acquisitions of ...

Insolvencies fall by 5.56pct, Jan.-Sept. 2018; suspensions, dissolutions up 13.11pct, 26.49pct

Wednesday, November 7, 2018

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The number of firms and individuals facing insolvency fell by 5.56pct in the first nine months of this year compared with the similar period of 2017, to 6,083, according to data posted on the website of the National Companies Register Office (ONRC).Most of them are in Bucharest, 1,167, down 16.22pct over the same period of 2017. The next largest such insolvencies were reported for the counties of Bihor - 414 insolvencies (+ 17.95pct), Timis - 323 (+ 21.89pct), ...

Deloitte Consulting: Romanian companies are too shy in investing abroad

Wednesday, November 7, 2018

The Romanian companies are rather shy on going international, including state owned companies, and they should take advantage of opportunities like the sale of the port of Giurgiulesti, Moldova’s main gate for oil products, Razvan Nicolescu, a former Energy minister and currently energy consultant at Deloitte said at BR’s Foreign Investors Summit. “Romanian companies are rather shy on going international, including state owned ...

Food & beverages, entertainment to become the new anchors of retail centers

Wednesday, November 7, 2018

There are two new changes happening on the retail market. This is the second consecutive year without a new project in Bucharest and the anchor of a retail project is no longer the hypermarket, but the F&B (food and beverages) and entertainment areas. According to real estate consultant JLL, the total stock of modern retail space reached approximately 3.1 million sqm, resulting in a density of 151 sqm/1,000 inhabitants and more than 1.1 million sqm ...

Ceetrus Romania invests EUR 10 mln in expanding mall in North-Western Romania

Wednesday, November 7, 2018

Ceetrus Romania, the local subsidiary of French real estate investor Ceetrus, the former Immochan, will invest EUR 10 million in expanding its shopping center in Satu Mare, North-Western Romania. The new shopping gallery will have an area of 9,000 sqm and will help the project increase its number of tenants from 24 to 40. The work on this expansion should be completed at the end of the third quarter of 2019, ...

PepsiCo leases 27,000 sqm of new warehouses in Romania

Wednesday, November 7, 2018

Soft drinks and snacks producer PepsiCo has leased two new warehouses totaling 27,000 sqm of logistics space in Southern Bucharest, according to real estate consultancy firm Dunwell, which brokered the deal, quoted by romania-insider.com. The negotiations started in June and ended in October. The spaces were leased in logistics parks owned by CTP Romania and Helios Phoenix Group. The first transaction included 10,000 ...

Romania loses seven places in the World Bank’s Doing Business 2019 ranking

Wednesday, November 7, 2018

Romania went down seven places to 52nd in the World Bank’s Doing Business 2019 ranking, which analyzes the ease of doing business in 190 countries worldwide. Romania has a score of 72.3 points in the new ranking, down 0.53 points compared to last year, when it ranked 45th. “Romania made ...

Big companies in Arad use workers from India,  due to the crisis of the qualified work force

Wednesday, October 31, 2018

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Several companies in Arad use, over the last year, workers from India, to complete their personnel schedule as there is no qualified workforce on the local market.A local company for recruitment specialised exclusively on bringing Indians to the western part of the country, especially for companies in the automotive domains and constructions which ‘work at catastrophe level’ due to the lack of employees. In Arad only,  on Monday there ...

Teraplast 9-mo net profit jumps 40%

Wednesday, October 31, 2018

Romanian plastic products manufacturer Teraplast Group [BSE:TRP] said on Tuesday its consolidated net profit rose by 40% on the year to 22.2 million lei ($5.4 million/4.7 million euro) in the first nine months of 2018. The company's consolidated operating result for the first three quarters of 2018 was 32.5 million lei, up from 19.2 million lei in the like period of 2017, Teraplast said in a financial statement. Teraplast's ...

Six companies in ten ask for their insolvency

Wednesday, October 31, 2018

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The number of insolvencies has increased five-time in Romania in the past ten years after the financial crisis, according to latest statistics released by CTIR (former Casa de Insolventa Transilvania) on Tuesda, quoted by romaniajournal.ro.. Most affected companies are from the industry, services and real estate sectors. Romania reported 16,499 new insolvencies in 2008, while the forecast for the end of 2018 is around 8,300, thus half of the number ...

DCA Romania opens its first call centre outside Bucharest

Wednesday, October 31, 2018

Debt Collection Agency (DCA) Romania, a leading company specialized in purchasing and managing receivables in Bulgaria and Romania, has opened its first call centre outside Bucharest in October, romaniajournal.ro reports. Based on several indicators, like the size of the population, the existence of public and private universities, the unemployment rate and the level of the medium net salary, they chose Craiova, Romania’s 6th largest city located on southern ...

Plastics and chemicals distributor Telko enters the Romanian market

Wednesday, October 31, 2018

Plastic and chemical materials distributor Telko, part of the Finnish group Aspo, has announced it will establish a subsidiary in Romania, according to profit.ro. The company has recently begun operations on the local market by opening a warehouse for Romania-based clients. Telko has a history of over 100 years and it distributes plastics, industrial chemicals and lubricants in 18 ...

Medicover reached revenues of EUR 66 mln in Romania at nine months

Wednesday, October 31, 2018

Medicover, the international health and diagnosis company, presented the interim report for the first nine months of 2018, http://business-review.eu informs. In Romania, Medicover revenues increased with 20 percent to EUR 66 million. Medicover recorded a 14.7% percent increase in global revenue over the period similar to the previous year, reaching a total value of EUR 490.4 ...

Liberty, which takes over ArcelorMittal, plans to significantly increase the production of the Galati plant

Wednesday, October 31, 2018

Following the announcement of Liberty House’s binding offer to acquire the Galati Steelworks in Romania from ArcelorMittal, Jon Bolton CEO for Liberty Steel met with Viorel Stefan the Vice Prime Minister on Thursday, 25th October, in Bucharest. A team from Liberty House had spent the day meeting with the leadership team and trade union representatives at Galati describing plans to grow production output from Galati by 1 million tonnes by the ...

National Franchise Registry in the making, to monitor franchise business

Wednesday, October 31, 2018

Under a bill amending Ordinance No. 52/1997 on the legal status of franchising, adopted on Wednesday by the government, Romania will have a National Franchise Registry to monitor franchise businesses and a pilot unit where the franchisor has the possibility to test and fine-tune for one year the business type he plans to sell as a franchise."The role of the National Franchise Registry is to monitor franchise businesses and provide useful statistical data. This ...

Competition Council starts investigation on cement market

Wednesday, October 31, 2018

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Romania’s Competition Council has started an investigation targeting a possible anticompetition deal between cement producers Holcim Romania, CRH Ciment Romania, and Heidelbergcement Romania. The three companies are suspected of having split the local cement market in terms of market shares, offered products, production and sales levels, technical development and investments. This may have also been correlated with a possible price-fixing policy, ...

Ford opens in Craiova its first Resource and Commitment Center in Europe

Wednesday, October 31, 2018

Ford inaugurated its first Resource and Commitment Center in Europe, in Craiova. Designed to support the creation of new locations to improve the economic potential and living standards of the inhabitants of the Oltenia region, the Center is the subject of a USD 1 million total investment over four years by Ford Motor Company Fund in collaboration with its international partner, ...

Romania sees EU's steepest decline in women's leadership share in large caps

Wednesday, October 24, 2018

 Romania saw the steepest decline in the share of women in the management of large companies listed on the stock exchange, which dropped more than 10 percentage points between 2010 and 2017, in stark contradiction with the European trends, Andreea Paul, president of the Competitiveness Initiative (INACO), said in a release."In countries such as France, Italy, Belgium or Germany, the representation of women has improved significantly. Why is that? Because they introduced ...

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