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OTE to increase capital of Telekom Romania Mobile Communications by EUR 800 million
Wednesday, June 26, 2019
Hellenic Telecommunications Organization (OTE), the owner of the Telekom Romania group, decided at the general shareholders’ meeting in April to increase the capital of Telekom Romania Mobile Communications by EUR 800 million (RON 3.71 billion), meaning 371.87 million shares at the nominal value of RON 10. The shareholders of the mobile division of Telekom Romania are OTE with 70 percent of shares and Telekom Romania with 30 percent, while a few ...
R22 to take over Romanian producer of e-commerce solutions
Wednesday, June 26, 2019
Polish company R22, which has already bought several web hosting companies in Romania reaching a market share of about 25% on this market, will take over the Cluj-Napoca-based Blugento, a provider of e-commerce solutions based on the Magento platform. The transaction will be carried out in several stages out if which the first stage will involve an investment of about EUR 1 million, ...
Dacia-Renault: Auto industry accounts for 14 pct of Romania’s GDP and 26 pct of exports
Wednesday, June 26, 2019
The auto industry is one of the most important economic forces in Romania, with a contribution of 14 percent to the GDP and 26 percent to exports, said Christophe Dridi, the general manager at Automobile Dacia and Groupe Renault Romania, during a CCIFER conference on last Wednesday. “The Romanian car industry represents 14 percent of GDP and contributes 26 percent to exports. It is the largest industry in Romania, one of the country’s main ...
Regina Maria acquires Genetic Center labs in Bucharest and Cluj
Wednesday, June 26, 2019
Private healthcare network Regina Maria has announced that it would take over Genetic Center, a medical lab chain specialised in genetic tests, with centers in Bucharest and Cluj and harvesting points in several Romanian cities. The Cluj Genetic Center was opened in 2009 and was the second genetics lab in Romania. The Bucharest center was opened in 2016, following a research project related to male infertility. Currently, this lab provides pre- and ...
GapMinder Venture Partners BV decided to give EUR 50,000 funding to 2 new startups
Wednesday, June 26, 2019
GapMinder Venture Partners BV decided to give an additional EUR 50,000 funding to 2 new startups, part of the Techcelerator program. Seven of the startups in the program were present on Upgrade 100 stage for a pitching session and 2 of the Techcelerator’s alumni held presentations to get an additional round of investment. During the Demo Day event, xVision from Timi?oara, one of the Techcelerator alumni got a new round of investment totaling EUR ...
Oracle recorded total revenues of USD 39.5 billion in fiscal year 2019, up 3 percent
Wednesday, June 26, 2019
Oracle Corporation announced 2019 Q4 fiscal results and fiscal 2019 full year results, http://business-review.eu reads. Total Quarterly Revenues were USD 11.1 billion, up 1 percent in USD and up 4 percent in constant currency compared to Q4 last year. Cloud Services and License Support revenues were USD 6.8 billion, while Cloud License and On-Premise License revenues were USD 2.5 billion. Total Cloud Services and License Support plus ...
Georges Durdilly, appointed Head of Airbus Romania
Wednesday, June 19, 2019
Georges Durdilly, a former French Army combat helicopter pilot, has been appointed as Head of Country for Romania, replacing in this role Serge Durand who has retired. Durdilly, aged 60, will represent Airbus as one company towards the country’s key stakeholders, and support the development of commercial operations. Georges Durdilly will also hold the position of General Manager at Airbus Helicopters ...
Endava opens two new software centres in Timisoara and Brasov
Wednesday, June 19, 2019
Endava, one of the 5 biggest software companies in Romania by 2018 turnover (RON 501.8 million) has announced the opening of two new offices in Timisoara and Brasov, reaching a total of seven development centres in Romania. Its five existing offices are in Cluj-Napoca, Iasi, Bucuresti, Pitesti and Targu-Mures. The company had over 2,790 employees in Romania at the end of March 2019. It has already started to recruit more people in areas like software ...
Alina Stavaru, promoted partner at RTPR Allen & Overy
Wednesday, June 19, 2019
After 10 years of dedicated business activity and dozens of successful M&A projects, particularly Private Equity, complex corporate projects and Employment and Benefits, Alina Stavaru receives official recognition being promoted Partner within RTPR Allen & Overy, joining by that the team of five partners: Costin Taracila, Victor Padurari, Alexandru Retevoescu, Mihai Ristici and Valentin Berea. "It's a first ...
Neogen Group buys stake in boat rental marketplace Sailo.com
Wednesday, June 19, 2019
Neogen Group, the parent company of several brands including BestJobs and Vivre, has acquired a 9.4 percent stake in Sailo.com, a boat rental marketplace founded by a Romanian entrepreneur in the US and active in over 100 countries in North and South America, Europe and Asia. Sailo’s post-investment market cap reaches USD 9 million. Neogen is thus entering the still small, but highly dynamic boat rental market, which is expected to reach a value ...
Romania Blockchain Summit to take place on June 21-22 in Bucharest
Wednesday, June 19, 2019
Romania Blockchain Summit promises to be one of the most important conferences dedicated to innovative technologies in the South-Eastern European region, bringing together the public sector, political decision-makers, developers, researchers, global entrepreneurs, leaders and innovators. Business Review is happy to announce that our Editor-in-Chief, Sorin Melenciuc, will host one of the conference panels – “Blockchain as an ...
OLX reports 43% higher earnings in 2018
Wednesday, June 19, 2019
OLX, the largest online classifieds platform in Romania, reported its net profit margin hit roughly 25% in 2018. Last year, OLX introduced much stricter limits for publishing free ads for selling electronics and home appliances. OLX.ro attracts about 700,000 to 1,000,000 unique visitors a day. Its turnover crossed the RON 100 million (EUR 22 mln) threshold for the first time in 2018 when it reported the largest net profit so far ...
MAS RE shifts focus from Western to central and Eastern Europe
Wednesday, June 19, 2019
South African developer and real estate investor MAS RE, which owns and develops, in partnership with Prime Kapital, 12 real estate projects in Romania, decided to exit the Western European markets to focus on the Eastern markets, particularly ...
Kaufland launches new hypermarket concept in Romania
Wednesday, June 19, 2019
German retailer Kaufland revamped its store on Soseaua Colentina in Bucharest and brought there a new concept of hypermarket that offers clients “a completely modernized shopping experience inspired by shopping malls.” The revamping process increased and diversified the store’s offer, which now includes a Sushi Bar, a Fresh Bar and a Sandwich Bar, as well a self-service bar and new assortments of fresh products ready to serve. The ...
Number of companies suspending their activity in January-April down 21.16 pct
Wednesday, June 12, 2019
The number of companies that suspended their activity in the first four months of the year dropped by 21.16 per cent compared with the same period of 2018, down to 5,486, according to data published by the National Trade Register Office (ONRC).In April, 1,052 companies suspended their activity.Most companies that suspended their activity in the first four months of this year are in Bucharest, namely 538, down by 37.8 per cent compared with the same ...
Study: Labor market crisis forcing companies to invest in digitization
Wednesday, June 12, 2019
Two-thirds of Romanian companies are determined to invest significantly in digitization over the next 3 years, with 80 percent facing, among other things, the problem of skilled human resources. 79 percent target investment in production, 50 percent in control and 46 percent in planning, according to a survey of more than 300 companies in the Romanian industry. The problem of lack of work-force affects the entire Romanian labor market, and the ...
Clariant opens EUR 140 mln bioethanol plant in Romania
Wednesday, June 12, 2019
Clariant, a world leader in specialty chemicals, opened in Podari, southern Romania, its most innovative plant where it will produce bioethanol. The investor poured EUR 140 million in the plant, out of which EUR 40 million was covered with a grant from the European ...
Bongard, interested in insolvent Romanian cable producer Romcab
Wednesday, June 12, 2019
Bongard, a German family-owned producer of equipment for the cable industry, wants to buy the production lines of the Romanian power and fiber optic cable producer Romcab, which went into insolvency in ...
MedLife to spend EUR 20 million on acquisitions in Romania and abroad
Wednesday, June 12, 2019
The administrative board of MedLife, one of the biggest private healthcare services provider in Romania, has announced that it would increase its credit limit by EUR 15 million, to which other company liquidities will be added to reach EUR 20 million that would be used to develop its national and international expansion strategy through acquisitions, according to news.ro. The bank union through which the credit will be accessed includes BCR as ...
Uzina Mecanica Plopeni to produce Beretta assault weapons in six months
Wednesday, June 12, 2019
Uzina Mecanica Plopeni, a subsidiary of the Romanian National Company for Military Technique Romarm, will start to produce Beretta assault weapons in about six months. Production will start based on a memorandum of understanding signed on June 10 with the Italian company Beretta Holding, economy minister Niculae ...