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Niro Investment Group Appoints New General Manager

Wednesday, July 27, 2022

Niro Investment Group, specialized in investments and real estate asset management, announced the appointment of Anca Simionescu as General Manager, with the role of coordinating and developing the group’s investment projects both locally and internationally.   With over 15 years of experience in the commercial and residential real estate investment market, asset management and business development, Anca Simionescu is a graduate of the Faculty of Robotics of the ...

Microsoft to open first data center in Romania, sources say

Wednesday, July 27, 2022

  American tech corporation Microsoft bought a parcel of land in the north of Bucharest, in Otopeni, that is meant to host its new data center, according ...

ONRC: 62,777 natural and juridical persons registered in first 5 months of 2022

Wednesday, July 20, 2022

The number of natural and juridical persons registered in the first five months of 2022 dropped by 6.5%, compared to the same period of 2021, to 62,777, of which 46,783 are limited companies, according to data centralized by the National Office of Trade Registrar (ONRC).   Most registrations were recorded in Bucharest – 11,623 (plus 14.21%, compared to January-May 2021) and in the counties of Cluj ...

Foreign shareholders inject over 34 million euros in companies of financial market in first five months

Wednesday, July 20, 2022

Companies activating in the Romanian financial market received from foreign shareholders capital injections of 34.05 million euros in the first 5 months, on the drop by 40% compared to the same period of 2021, amounting to 56.9 million euros, according to the National Office of Trade Registrar ...

Competition Council recommends entrusting Constanta Port's railway infrastructure management to single operator

Wednesday, July 20, 2022

 The degraded railway infrastructure and the lack of investments in the Constanta seaport are affecting freight traffic, is the conclusion of a study published on Monday by the Competition Council, which recommends the Ministry of Transport and Infrastructure to analyse the timeliness of putting the Maritime Ports Administration National Company S.A. in charge of the management of the port's rail service, under observance of railway safety ...

Nordis Group has started delivering the units of Nordis Mamaia ensemble 

Wednesday, July 20, 2022

Nordis Group, the only developer of 5-star hotel and residential complexes, started on July 15, 2022, the process of handing over the Nordis Mamaia apartments, through a marathon of signing the sales contracts, over 50 units being delivered during the first day.   Nordis Group brought to the Romanian market a new investment concept, through which buyers invest in a ...

The hybrid work model tests the interpersonal skills of IT team leaders

Wednesday, July 20, 2022

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In the context in which the greatest extent of the telework phenomenon is visible in the field of technology & IT, Equatorial, a company that supports the development of software skills through dedicated leadership programs and adapted to the specific needs of ...

Meta Estate Trust kicks-off the IPO and aims to increase its share capital by RON 25 million

Wednesday, July 20, 2022

Meta Estate Trust, a holding company operating in the real estate sector, with an innovative investment model for the first time on the Romanian market, announces that the Financial Supervision Authority (ASF) has approved the company’s Initial Public Offering (IPO) prospectus.   Therefore, Meta Estate Trust will organize the IPO to increase the share capital and, subsequently, ...

MedLife takes over largest private hospital in Romania's Arges County

Wednesday, July 20, 2022

Major private medical services provider MedLife (BVB: M) announced that it signed the contract for the acquisition of the majority stake (99.76%) in Muntenia Hospital, the largest private hospital in Arge? County. The transaction pends approval from the Competition Council.   Rival player Regina Maria, which announced a month earlier the takeover of Muntenia ...

African Industries Group has taken over the World Class Romania fitness network

Wednesday, July 20, 2022

Deloitte Romania assisted the African Industries Group (AIG) holding, present in Romania through investments in agriculture, distribution of agricultural equipment and real estate, in the acquisition of the fitness network World Class Romania from the Polish investment fund Resource Partners.   The transaction was signed in April 2022 and has been closed on July 15, after obtaining all ...

Almost 13,700 companies were dissolved in the first five months of this year

Wednesday, July 20, 2022

The number of dissolved companies increased by 19.56% in the first five months of this year, to 13,694, compared to 11,454 in the same period of 2021, according to data centralized by the National Office of the Trade Register (ONRC).The most dissolutions were registered in Bucharest, respectively 2,551 companies (increasing by 19.82%), and in the counties of Constanta (686, + 28.46%), Cluj (658, + 34.01%), Timis (600, + 12.36%) and Ilfov (568, + ...

Consumer protection authority fines Blue Air 2 million euros for canceling over 11,000 flights

Wednesday, July 20, 2022

 The National Authority for Consumer Protection (ANPC) fined Blue Air 2 million euros for canceling more than 11,000 flights between April 30, 2021 - April 30, 2022, and obliges the company to return to customers the money in maximum ten days for all the canceled flights, according to a press release of the institution, sent on last Thursday."Following the complaints submitted by consumers and as a result of media reactions, the National ...

Romanian companies have smallest number of employees in 2021

Wednesday, July 20, 2022

 The number of employees fell for the first time below the threshold of 4 million, last year, 2021 thus continuing the trend from 2020, according to a termene.ro study.Thus, if in 2019, 4.2 million people were employed in Romania (similar to 2018), in 2020 their number decreased to 4.1 million people, and in 2021 it reached approximately 3.811 million people. Although it is a widespread phenomenon, visible in all industries, HoReCa and ...

ProductLead expands into Bulgarian market

Wednesday, July 20, 2022

Romanian digital marketing platform ProductLead said on Tuesday that it is entering the market in Bulgaria as part of a previously announced expansion drive, which attracted as backer Bulgarian venture capital firm Eleven Ventures.   ProductLead, which is a cloud-based user-generated content (UGC) creator, already collaborates with dozens of influencers and opinion ...

Study: Buyers show low confidence and opt for purchase price mechanisms which allow adjustments at M&A transactions closing date

Wednesday, July 20, 2022

Buyers show low confidence in the financial statements or accounting policies and systems of the companies they want to acquire or in their financial prospects due to seasonality, volatility or market distortions caused by external events such as the COVID-19 pandemic, indicates the “Dealmaking in Central Europe” study, conducted by the Deloitte Legal network in 16 countries, so they opt for purchase price mechanisms ...

PwC Barometer: 75 pct of Romanian companies have adjusted or will adjust salaries to account for inflation

Wednesday, July 13, 2022

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Most companies in Romania (75%) point to the fact that they have adjusted or will adjust wages to account for inflation or by a percentage between the rate of inflation and the initially planned growth, the average being 9.4%, while the rest have decided to maintain the payroll increase budget established in 2021, reveal the results of the HR Barometer conducted by PwC Romania.According to the survey, 41% of companies have revised upwards their salary ...

Number of companies with foreign capital in Romania jumps 35% in first part of 2022

Wednesday, July 13, 2022

Almost 3,000 new businesses with foreign capital were created in the first five months of 2022 in Romania, a 35.1% increase relative to 2021.   However, the foreign capital of the new companies amounted to USD 17.2 million, which is 20.2% lower than the one of companies registered in the same period last year. Back then, despite the pandemic, foreign investors created companies in Romania with a ...

Holcim expanding its concrete plants business by acquiring General Beton Romania

Wednesday, July 13, 2022

 Cement and prefabricated producer Holcim Romania has announced the acquisition of General Beton Romania, a leading local concrete producer and trader, as the transaction received the approval of the competition authority.According to a press statement by the company released on Friday, with the acquisition of General Beton Romania, the network of Holcim Romania concrete plants reaches 27, located in the counties of Arad, Constanta, Iasi, Brasov, Cluj, ...

Company strike-offs in Romania increase by over 9pct five months into 2022

Wednesday, July 13, 2022

The number of companies stricken off in Romania nationwide increased by 9.25% in the first five months of 2022, as against the same period in 2021, to 29,634 strike-offs, according to statistics with the National Companies Registry Office (ONRC).Most strike-offs were recorded in Bucharest - 4,576 (up 8.36% against January-May 2021) and in the counties of Timis - 1,344 (up 5.58%), Cluj - 1,322 (up 13.67%) and Constanta - 1,312 (up 12.23%).On the ...

Simultec Magurele to deliver flight simulators to Asia-Pacific country

Wednesday, July 13, 2022

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Simultec Magurele, a subsidiary of the Elbit Systems manufacturer of simulators for the air force, army and navy, has been appointed to supply flight simulators for the Blackhawk S-70i and Bell 412EP helicopters for a country in the Asia-Pacific region.In a press statement released on Thursday, the company says this confirms the capabilities of Simultec engineers to design, build, develop and supply technology at the highest level for both the domestic market and ...

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