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JTI Romania certified as Top Employer for the sixth year in a row
Wednesday, February 20, 2019
For the sixth year in a row, the Top Employers Institute has certified JTI as Top Employer Romania 2019 and Top Employer Europe 2019. This certification highlights JTI’s excellent employment conditions. The prestigious Top Employers Institute assessed JTI Romania on the following criteria: Talent Strategy, Workforce Planning, Talent Acquisition, On Boarding, Training & development, Learning & Development, Performance Management, Leadership Development, Career ...
MedLife ends 2018 with 29% increase in Pro-Forma Sales and EBITDA higher by 33% as compared to prior year
Wednesday, February 20, 2019
MedLife private medical services operator in Romania has announced the end of 2018 with Consolidated Pro-forma Sales of RON 804 million at group level, registering an increase of 29 % as compared to 2017. In terms of EBITDA, the Group achieved an increase of 33% as compared to the previous period, pro-forma EBITDA reported at the level of 2018 being RON 103 million. In terms of pro-forma sales split by business lines, clinics and the corporate division ...
Electroaparataj finished 2018 with losses of 345,611 lei, 4 times lower than in 2017
Wednesday, February 13, 2019
Electroaparataj reported losses of 345,611 lei for 2018, about four times lower than in 2017, to which 1.31 million lei was added, according to preliminary financial data sent to Bucharest Stock Exchange on Tuesday. The business figure of the company was 17.997 million lei, on the rise by 6.8%, compared to 2017. The overall incomes were 18.11 million lei (17.67 million lei in 2017), and expenses were 18.455 million lei (18,981 lei in ...
Blue Air attracts German group Zeitfracht as shareholder
Wednesday, February 13, 2019
The German group Zeitfracht has become a major investor in Romania’s biggest air carrier Blue Air, as it bought 10 percent of the company’s shares. Negotiations began at the end of 2018, while transfer documents were signed on December 12, 2018, according to a Blue Air statement. Subsequently, Zeitfracht performed all procedures provided by German law for acquisitions in foreign companies that were finalized this ...
AFI Europe intends to take over Casa Radio project, in central Bucharest
Wednesday, February 13, 2019
AFI Europe N.V., present since 2005 on the Romanian market through AFI Europe Romania, has signed a non-binding Letter of Intent with Plaza Centers N.V. to take over its entire indirect shareholdings in the Casa Radio project, located in central Bucharest. The total value of the offer is EUR 60 million. Subject to the successful completion of this transaction, AFI Europe will become the majority shareholder in this project, with a share of 75%. The ...
TopShop Topman launches its first store in Romania
Wednesday, February 13, 2019
British fashion brands, Topshop and Topman, will enter the Romanian market with a brand new store design concept that will launch in Bucharest. The impressive 1,000 square meters of retail space will open in the Bucuresti Mall in March 2019. The Voici La Mode Group will oversee the British brands’ expansion into Romania as their official franchise partner in the country. Product is at the heart of the Bucharest Topshop Topman store design; simple ...
Eurostat: Romania ranks above the EU average in terms of birth rate of enterprises
Wednesday, February 13, 2019
Romania is above the European Union average in term of birth rate of enterprises, according to Eurostat. In 2016, the birth rate in Romania was 10.4 percent, compared with an EU average of 9.8 percent. The birth rate of enterprises is the number of newly-born companies as a proportion of the total number of activefirms. The higher birth rates in the EU were registered in Lithuania (18.8 percent), ...
Romanian organic agriculture input producer Norofert Organics expands to neighboring Moldova
Wednesday, February 13, 2019
Norofert Organics, the biggest input producer for organic agriculture in Romania, expands its business in the Republic of Moldova through a partnership with a local distributor, the company said quoted by http://business-review.eu. Norofert Organics also plans to enter this year other markets in Eastern Europe, such as Bulgaria or Croatia. One of Norofert’s leading products is effervescent tablets. In the first phase, ...
Safetech Innovations doubles profits in 2018 to reach RON 1.1 million, considers listing on BVB AeRO
Wednesday, February 13, 2019
Safetech Innovations, the cybersecurity leader on the Romanian information security market, closed 2018 with a net profit of RON 1,100,000, a historical record for the company, double compared to result registered in 2017, of RON 529,000, http://business-review.eu informs. In terms of revenues, the company registered in 2018 a turnover of RON 7 million, a decrease compared to the result from 2017, of RON 8 ...
Morgan Stanley in talks for EUR 150 mln office deal in Bucharest
Wednesday, February 13, 2019
Morgan Stanley Real Estate Romania, the local division of the American group, reportedly considers the acquisition of the Hermes Business Campus office project in ...
BAT moves service center from Belgium to Romania
Wednesday, February 13, 2019
British American Tobacco (BAT), the second-largest tobacco producer in the world, will close a Belgian center and move its activities to Romania while the trade unions say it is a “typical case of social dumping.” The 45 employees of the BAT Center in the Molenbeek district of Brussels, were announced about the move on Friday, February 1, according to local ...
Deloitte Romania appoints new director for marketing and business development
Wednesday, February 13, 2019
Deloitte Romania appointed Romanian Ruxandra Bandila as Director for Marketing and Business Development. She will report to Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova. Bandila has decided to rejoin the professional services sector after her career path took her through various fields, from project management, marketing and business development, to strategy and operations in different ...
The Competition Council authorized the taking over of Glokal Dijital Hizmetler Pazarlama by GLQ Holdings and DHI Investment
Wednesday, February 6, 2019
The Competition Council authorized the trading through which GLQ Holdings and DHI Investment takes over Glokal Dijital Hizmetler Pazarlama ve Ticaret through the company Glocal Invest, according to a press release of the institution.DHI Invest BV and Glocal Invest BV, both from the Netherlands are owned by Dogan Sirketler Grubu Holding AS Turkey.In Romania as well as on an international plan, Dogan Sirketler Grubu Holding AS is active in ...
In 2018, every two days a company with impact in the economy got into insolvency
Wednesday, February 6, 2019
The number of insolvencies among the companies of impact was kept constant in the last three years registering a slight drop from 184 of companies in 2017 to 183 in 2018 shows an analysis of CITR company specialized in insolvencies. The total value of assets immobilized of the companies of impact in insolvency reached in 2018 809 million euro, the lowest threshold over the last five years and dropping with 34.44% as compared to the previous ...
Navodari Chemical Fertiliser Plant more successful in 2018
Wednesday, February 6, 2019
Navodari Chemical Fertiliser Plant, the only Romanian manufacturer of technological fertilisers in Romania, concluded 2018 financial year with a business figure of 106 million lei, on the rise by 10% against the previous year, according to a company press release. “2018 was a good year for us and I think this is due to the fact that we are very attentive to farmers’ needs. The latter started changing their options for fertilisers and ...
Competition Council hands down sanctions worth 93 million euro in 2018
Wednesday, February 6, 2019
The Competition Council handed down fines worth a total of 435 million lei (93 million euro) in 2018, this being the second year with the highest fines in the history of the institution, President of the Competition Council Bogdan Chiritoiu told a news conference on Tuesday.By comparison, in 2017, there were handed down fines worth 123 million lei."It was a year with a very intense activity, the second year in terms of the level of sanctions in the ...
Number of newly-established companies running on foreign capital down 2.64 pct in 2018; share capital up 18.2pct
Wednesday, February 6, 2019
The number of newly-established companies running on foreign capital decreased by 2.64 per cent in 2018 against 2017, to 5,683 units, according to data centralized by the National Trade Register Office (ONRC).The 5,683 newly-established companies had a share capital worth a total of 47.559 million US dollars, up 18.2 per cent against 2017.According to the ONRC, in December 2018 there were registered 477 companies running on foreign capital, most of ...
Grants between EUR 1 and 5 million for Romanian companies through Regional Operational Program 2.2
Wednesday, February 6, 2019
Romanian companies are now able to access grants between EUR 1 and 5 million through the Regional Operational Program 2.2, http://business-review.eu informs. The companies must have between 3 and 249 employees and have registered profit in 2018. All info and the Applicant’s Guide are available on the Inforegio website (inforegio.ro). The procedure was simplified for the March – April 2019 ...
Camicissima, Italian shirt brand for men enters Romania
Wednesday, February 6, 2019
Camicissima, a renowned Italian man shirts brand is entering the Romanian market by opening stores in three shopping centers in Bucharest. The new stores present the 2018-19 fall-winter collection. The first stores in Romania will be located in Park Lake Shopping Center, Plaza România and Mega Mall. The brand will expand in other three stores by the end of this year. Camicissima is a brand comprising high-quality ...
WDP posts net result of EUR 328.8 million for 2018
Wednesday, February 6, 2019
Belgian real estate developer WDP (Warehouses de Pauw) recorded in 2018 a net result of EUR 328.8 million at the group level, driven in part by an increase of EUR 208.3 million in the underlying value of its property portfolio. The developer owns over several warehouses around Romania, with a total of over 300,000 square meters. The occupancy rate at the end of 2018 was 97.5 percent and the duration of the lease contracts is 5.8 years. The value of ...