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Symmetrica grows turnover 20% in 2023
Wednesday, March 20, 2024
Romanian paver manufacturer Symmetrica said its turnover rose 20% year-on-year to 260 million lei ($57.2 million/52.3 million euro) in 2023. The company sold more than 7 million sq m of pavers last year, up by 12% compared to 2022, it said in a press release. Symmetrica attributed its growth in 2023 mainly ...
OECD: Stronger institutions and public finances would help boost productivity, growth and incomes for Romania
Wednesday, March 13, 2024
Romania’s economy has performed well in recent years, driving living standards higher and supporting convergence with OECD countries, but high inflation has put a drag on households’ purchasing power, according to the ...
Government: About 11,500 companies to benefit from IMM Invest Plus state aid
Wednesday, March 13, 2024
Mihai Constantin, spokesman for the government, announced that the Executive had decided to continue applying the support measures set up by the state aid IMM Invest Plus. He pointed out that the emergency order will support business and will facilitate company access to cash. The government decided to continue the application of support measures set yp by IMM Invest Plus änd its components. The new state aid will be applied until June 30, 2024, ...
Alezzi estimates a turnover of over 50 million euros for 2024, up by 150% compared to last year
Wednesday, March 13, 2024
Alezzi, one of the most important local real estate developers in Romania, estimates a turnover of over 50 million euros in 2024, an increase of about 150% compared to 2023, when it recorded a turnover of over 20 million euros. At the same time, the company expects to end the current year with a profit of 12 million euros, higher than last year when it reached 5 million euros. The total value of Alezzi’s investment in its real estate projects has ...
Romania’s Gender Pay Gap is nearly 3 times lower than EU average
Wednesday, March 13, 2024
* nPloy uses AI to engineer equality in the workplace in Romania and the CEE ? Women in Romania earn on average 4.5% less than men, well below the European Union average of 12.7%. Still, the indicator in the private sector is way higher (8.6% on average). ? Over 50% of employees and over 40% of HR ...
US citizen takes over Romanian Allied International Defense Control
Wednesday, March 13, 2024
US citizen Charles Douglas Anderson owns 77% of the Romanian Allied International Defense company after he bought the stakes held in the company by Romanian associates Ionel Rusen, Aurel Cazacu, Marian Neagu, according to a decision of the company, quoted by Economica.net. The company that will produce ammunition wants to buy the shares held by George Becali in the Dragasani Mechanical Plant. In order to be perfected, the transaction must ...
Romania, largest share of female investors on stock exchange of countries where XTB fintech platform is present
Wednesday, March 13, 2024
Romania is the undisputed leader in terms of the share of women among investors in countries where the XTB fintech platform is present, with a rate of 20% as of 2023.According to a press release from the specialized platform, sent on last Friday, eight out of ten XTB clients in Romania are on maternity leave or have children and are looking for ways to increase their savings. At the same time, after Romania, the regions with a significant share of women investors are: ...
Over 609,000 female shareholders or associates in Romanian companies as of late January
Wednesday, March 13, 2024
The number of female shareholders or associates in Romanian companies was standing at 609,470 at the end of January 2024, making up 36.5% of the total shareholders or associates, according to statistics with the National Companies Registry Office (ONRC).According to the same data, male shareholders or associates numbered over 1.06 million (63.5%) in the total of 1,669,759 associates or shareholders in Romania as of the end of January 2024.The total number ...
Romania has the lowest percentage of female investors
Wednesday, March 13, 2024
by eToro analyst for Romania, Bogdan Maioreanu March 8 is International Women’s day that celebrates the achievements of women and pushes for equal rights progress.The first recorded celebration was in 1911 in Austria, Denmark, Germany and Switzerland when over a million people rallied to support women's rights. But the struggle is not over, there are still a lot of misconceptions to fight and they are not limited to the women's places ...
ONRC:12,086 natural and legal persons, registered in January 2024
Wednesday, March 13, 2024
The number of registrations of natural and legal persons increased in January 2024 by 2.07%, compared to the similar period of 2022, up to 12,086, of which 74.7%, respectively 9,035, are limited liability companies (SRL), according to data centralized by the National Trade Registry Office (ONRC).The most registrations were registered in the city of Bucharest, respectively 2,630 (plus 12.83%, compared to January 2023) and in the counties of Cluj - 715 (plus 17.41%), ...
ONRC: 481 companies running on foreign capital established in Romania in January 2024
Wednesday, March 13, 2024
The number of newly established companies running on foreign capital in Romania increased in January 2024 by 0.4%, compared to the same period in 2023, to 481 units, according to data centralized by the National Trade Register Office (ONRC).The 481 new companies had a total subscribed share capital of USD 2.958 million, up 28.1% from the subscribed capital of companies registered in January 2023, of USD 2.309 million.By fields of activity, most ...
Noark Electric opens first regional logistics center in Romania
Wednesday, March 13, 2024
Noark Electric Romania, a subsidiary of Noark Electric Europe, a company that develops, manufactures and markets electrotechnical components and low voltage equipment for residential, commercial and industrial applications, announces the inauguration of their logistics center in Romania, which will serve the countries in the region. Through its location in a strategic area near Bucharest, located at FM Logistic, Noark’s partner, the center ensures high ...
The new Vice President at Samsung Romania & Bulgaria is Tiberiu Dobre
Wednesday, March 13, 2024
Samsung Electronics Romania & Bulgaria announces the appointment of Tiberiu Dobre, Head of Mobile eXperience for Romania & Bulgaria, as Vice President of the company. As Vice President, Tiberiu will be responsible for coordinating and implementing commercial strategies to strengthen Samsung’s position in the local and European markets. “I feel honored to take up this position and I am grateful ...
As many as 509 companies, sole traders in Romania become insolvent in January 2024
Wednesday, March 6, 2024
There were 509 companies and sole traders (PFA) that became insolvent in January 2024 in Romania, up 16.74% from January 2023, when 436 insolvencies were reported, according to data published on the website of the National Companies Registry Office (ONRC).Most insolvent companies and sole traders were recorded in Bucharest - 76, down 20.83% from January 2023.Next in the insolvency ranking were the counties of Cluj, with 53 insolvencies (plus 60.61%), Timis - 51 ...
AROBS Transilvania Software to be added to FTSE Russell's Emerging Markets indices beginning March 18
Wednesday, March 6, 2024
AROBS Transilvania Software (AROBS), the largest Romanian technology company listed on the Bucharest Stock Exchange (BVB), will be included in FTSE Russell's Emerging Markets indices beginning March 18, 2024, the BVB said in a release.AROBS will enter the FTSE Micro Cap indices, the global index provider announced on February 16, following its quarterly review."Through FTSE Russell's latest decision to include a new company in the emerging markets stock indices, ...
Samsung Expands Presence In Romania With Launch Of Construction Division
Wednesday, March 6, 2024
Samsung expands its presence in Romania, by launching the construction division. Samsung C&T Corporation, the construction division of the South Korean giant Samsung, with total business of over 36.8 billion dollars in 2023, entered Romania, according to data published in the Official Gazette. Samsung C&T built the Burj Khalifa in Dubai, the Petronas Towers and other famous buildings Samsung C&T Corporation Romania is fully ...
Chimcomplex Borzesti achieved, in 2023, an operating profit margin of 8%
Wednesday, March 6, 2024
Chimcomplex, the leading producer and supplier of vital chemicals in the region, generated total revenues for 2023 of 1.367 billion lei, out of which 1.344 billion lei represent operating revenues and 23 million lei financial revenues. As of December 31, 2023, the company recorded an operating profit (operating result) of 112 million lei. On a total activity basis, the net result was a profit of 76 million lei. In the context of a continued decline in consumption that ...
LEMET business increased, in 2023, to RON 330 million
Wednesday, March 6, 2024
LEMET, one of the largest furniture manufacturers at the national level and one of the largest retailers through the LEMS brand, recorded sales of 329.9 million lei in 2023. “The figure represents a single-digit increase compared to 2022”, said Alexandru Rizea, LEMET general director. LEMET, a 100% Romanian company that operates the industrial platform in Brebu commune, Prahova county, carried out investments of 10.2 million lei in 2023, in production ...
Fondul Proprietatea ends 2023 with net loss of 896.1 million RON
Wednesday, March 6, 2024
Fondul Proprietatea recorded a net loss of 896.1 million RON in 2023, compared to a net profit of 2.769 billion RON obtained in 2022, according to a company's report sent to the Bucharest Stock Exchange on Thursday."The losses related to the participations at fair value through profit or loss in 2023 were mainly determined by the decrease in the value of the participation in Hidroelectrica SA following its evaluation before the reclassification in the category of ...
Biofarm records in 2023 net profit worth 77 million lei
Wednesday, March 6, 2024
Biofarm recorded in 2023 a net profit worth 77 million lei, up 9% from the previous year, and a turnover of about 280 million lei, according to preliminary unaudited results released the company released on Thursday."In 2023, we have successfully implemented cost optimisation strategies, focusing in particular on two of the company's values: performance and care for the end consumer. Thus, we managed to identify efficient ways to control our expenses, even in the context of ...