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iHunt ups sales by 71% in 2020
Wednesday, February 17, 2021
Romanian smartphone producer iHunt (HUN), one of the fastest-growing companies listed on the Bucharest Stock Exchange, increased its turnover by 71% last year, to RON 42.6 mln (EUR 8.78 mln), according to its preliminary financial report. The net profit went up almost ten times compared to 2019, to RON 6.15 mln (EUR 1.27 mln). The growth in online retail as well as ...
SmartDreamers aims to accelerate its expansion in the North American market
Wednesday, February 17, 2021
SmartDreamers, a Romanian company that develops recruitment automation software, has appointed Tom Strauss as Vice President of Sales for the Americas, effective February 15. With this appointment, SmartDreamers aims to accelerate its expansion in the North American market. Tom Strauss previously worked for iCIMS, and its subsidiary, ...
Thodoris Dimopoulos is the Novartis Group’s new country president In Romania
Wednesday, February 10, 2021
Novartis Group in Romania announced that Thodoris Dimopoulos has been appointed Country President. Thodoris Dimopoulos is currently Sandoz Country Head Romania and Head Sub-Cluster East. He takes over the role, on top of his current responsibilities, as of the 1st of February 2021. In the Country President role, he will work closely with the other Division Heads (Pharmaceuticals, Oncology, Sandoz) to build Novartis’ reputation externally, whilst divisional independence will ...
TeraPlast has become member of European Plastic Pipes and Fittings Association
Wednesday, February 10, 2021
TeraPlast SA, the parent company of the TeraPlast Group, has become a member of TEPPFA (The European Plastic Pipes and Fittings Association) since February, according to a company statement.As a member, TeraPlast becomes the only Romanian company part of a European community made up of the largest producers of pipes and fittings, suppliers of raw materials and national associations on the European plastic pipe market."Our presence at TEPPFA honors us and allows ...
Trade Register: Almost 52,000 companies deleted last year
Wednesday, February 10, 2021
The number of companies deleted at a national level has gone down last year by almost 49%, in comparison with 2019, to up to 51,715 deletions, according to the National Trade Register Office (ONRC).On activity areas, the largest number of deletions was registered in the retail and wholesale commerce, vehicle and motorcycle repairs - 14,017 (minus 53,18% reported to 2019), constructions - 4,844 (minus 48.51%) and professional, scientific and technical activities - ...
Tesla opened the first office in Romania
Wednesday, February 10, 2021
US company Tesla has opened its first office in Romania. The new office is located on Calea Serban Voda, district 4, Bucharest. Tesla, owned by one of the richest men in the world, Elon Musk, has more investment plans for Romania, as it intends to build more Supercharger charging stations in several cities in Romania, such as Timi?oara, Sibiu, Pite?ti and Bucharest. Other cities like Craiova and Braila could also reach the short ...
Commoditrader expands partnership with the Romanian Corn Producers Association - APPR
Wednesday, February 10, 2021
Commoditrader expands the partnership with APPR – the Romanian Corn Producers Association for ...
Competition Council imposed over EUR 80 M fines in 2020
Wednesday, February 10, 2021
The Competition Council imposed fines of over EUR 82.7 million last year, with 2020 ranking third on terms of total fine revenues enforced by the authority over the years. However, unlike the previous years, over 40% of the total amount of fines was acknowledged by the companies, which means that some firms admitted the deeds and were granted discounts.“We expect that many companies do not challenge the fines in ...
OLX Romania has new General Manager
Wednesday, February 10, 2021
The advertising platform OLX has announced the appointment of Sebastiaan Lemmens as General Manager (OLX Romania, Portugal, Bulgaria, Bosnia) starting this ...
Kostas Papagiannis is the new MSD Romania’General Manager
Wednesday, February 10, 2021
Kostas Papagiannis takes over the general manager position of MSD Romania starting February 1. In the new role, he will focus on further developing the company’s presence in the local market, as well as creating sustainable solutions to increase patients ‘access to innovation and improve patients’ quality of life. For the past three years, Kostas Papagiannis has been the Managing Director of MSD Bulgaria, Northern Macedonia and Kosovo. In this ...
Vodafone Romania reports the financial results for the Quarter ended December 31st, 2020
Wednesday, February 10, 2021
* Service revenue was EUR 193 million in the quarter ended December 31st, 2020 lower by -2.1% compared to the same period of last year. Vodafone Romania announces the key performance indicators for the quarter ended December 31st, 2020, as reported by Vodafone Group Plc.The Service Revenue is €193 million and continue to be stable on quarterly evolution. The reported service revenues compared to the same period of last year is ...
Romania issues ‘memorandum’ blocking Chinese firms from public infrastructure projects
Wednesday, February 3, 2021
The Romanian government has adopted a “memorandum” last week that would block the awarding of public infrastructure contracts to companies coming from countries that do not have a bilateral trade agreement with the EU. If enacted into law, the memorandum would have the effect of excluding Chinese firms from public contracts for highway or railway projects, euractiv.com ...
Zitec recorded incomes of 10.5 million euros in 2020
Wednesday, February 3, 2021
Zitec, a market player for IT & digital marketing in Romania, specialized in the development of digital transformation solutions and services, recorded a business figure of 10.5 million euros in 2020, on the rise by 50% compared to the previous year, the company announced. For this year, Zitec is counting on the development of software development segments, cloud and e-commerce solutions, mobile ...
Trade Register: 10,913 companies suspend activity in 2020
Wednesday, February 3, 2021
The number of companies that suspended their activity has gone down in 2020, by 22.27% from the previous year, reaching 10,913, according to the data published by the National Trade Register Office (ONRC).As regards the business areas, the largest number of suspended companies were in the retail and wholesale commerce, repair of motor vehicles and motorcycles, namely 3,014 (-29.58%), in other service activities - 1,140 suspended companies (-12.38%) and in ...
Investment Plan for Europe supports businesses in Romania affected by the COVID-19 pandemic
Wednesday, February 3, 2021
The new cooperation between the European Investment Bank (EIB), European Investment Fund (EIF) and Deutsche Leasing Romania will enable local companies across Romania to benefit from €370 million of additional leasing finance. The EIB Group support is backed by a guarantee from ...
Number of dissolved companies decreases 25.52% in 2020
Wednesday, February 3, 2021
The number of dissolved companies decreased by 25.52% in 2020, compared to the previous year, to 25,384, versus 34,080 companies in 2019, according to data centralized by the National Trade Register Office (ONRC).The most dissolutions were registered in Bucharest, respectively 4,914 companies (decreasing by 16.78% compared to 2019) and in the counties of Timis (1,295, minus 24.58%), Cluj (1,251, minus 23.72%) and Constanta (1,233, minus 28.19%).In no ...
Trade Register: 5,694 companies go insolvent last year
Wednesday, February 3, 2021
The number of companies and authorized individuals (PFA) who became insolvent dropped by 12.72% in 2020, in comparison with the previous year, being registered 5,694 insolvencies, according to the data published on the website of the National Trade Register Office (ONRC).Most companies and PFAs that became insolvent were registered in Bucharest, namely 1,286, rising by 3.79% as opposed to 2019.By activity areas, last year, most insolvencies were ...
Haier to open Ploiesti-based 70 ml-euro refrigerator plant this spring
Wednesday, February 3, 2021
Haier Tech Romania, a member of the world-leading appliance manufacturer Haier Group, the largest home appliance company in China, announced that works on the first Haier refrigerator production facility in Europe advance according to schedule and that production will start at the end of spring 2021."This large-scale investment project exceeds 70 million euros. The 63,000 sqm plant sits on a 130,000-sqm plot in the Allianso Industrial Park in Aricestii ...
KeysFin Macro Update : The resistance of the Romanian business environment in the pandemic
Wednesday, February 3, 2021
However, the challenges of Romanian managers continue in 2021 and their success depends on the performance of the local authorities in balancing the fiscal adjustment with supporting the economy, according to the latest edition of the KeysFin Macro Update report. The number of insolvencies, suspensions, dissolutions or strikes off of companies ...
Assa Abloy to invest EUR 10 mln in Romania by 2025
Wednesday, February 3, 2021
Assa Abloy, a Swedish manufacturer of locks that exports 95% of the production from its Romanian plant, drafted an investment plan of EUR 10 mln to be implemented by 2025.The company will consequently increase its employment in Romania, currently of 450-550. The products made here reach over 20 European countries such as Sweden, England, France, Spain, Germany, Belgium, the Netherlands, Italy. Only 5% of the production is ...