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The eMAG group continues to drive ecommerce adoption
Wednesday, June 7, 2023
In 2022, eMAG pursued its ambitious investment plan to support the development of the regional ecosystem and respond to the growth potential of e-commerce in the three countries where it operates. Last year, eMAG invested 1.123 billion lei, bringing the total investments in the past two years to over 2 billion lei, in order to meet the needs of its 9 million customers in Romania, Hungary, and ...
Number of insolvencies for firms with more than EUR50mn in revenue, slightly above pre-pandemic levels
Wednesday, May 31, 2023
Corporate insolvencies is picking up speed, according to Allianz Trade Global Insolvency Index which is set to jump by +21% in 2023 and +4% in 2024. Half of the countries we analyzed are likely to exceed their pre-pandemic levels of insolvencies in 2023, and three out of five in 2024. In Europe, we expect insolvencies to reach 59,000 cases in France in 2023 (+41% y/y), 28,500 cases in the UK (+16%), ...
Exim Banca Romaneasca provides 48 ml RON worth of working capital financing to Peris Slaughterhouse
Wednesday, May 31, 2023
As part of the state aid scheme for Ukraine it has been implementing under the mandate received from the Romanian state, Exim Banca Romaneasca granted the Peris Slaughterhouse a working capital loan in amount of 48 million RON."The financing we provide under this program allows local companies to keep their production chains active through the infusion of working capital, but also to continue investment plans, this being a valuable and exploitable resource," ...
PwC Survey: Most companies in Romania plan to adopt the cloud in next two years
Wednesday, May 31, 2023
About three quarters of the companies in Romania (71.4%) have initiated the implementation of the cloud either for several departments or for certain processes and plan a wider adoption in the next two years, shows the data included in the Cloud Business Survey report, made by PwC Central and Eastern Europe.Nationwide, only 12% of the respondents declared that they have all their activities on the cloud (all-in on cloud). At the same time, more than a third ...
Romanian women are shareholders in 47% of companies with over RON 10,000 turnover
Wednesday, May 31, 2023
In Romania’s entrepreneurial environment, women are shareholders in 47% of active companies with a turnover of over 10,000 lei, almost at par with men, according to a survey conducted by Impact Hub and Bravva Angels for ING Bank Romania. In addition, one in four companies is 100% owned by women. As a result, more than 260,000 local companies have a woman shareholder in their structure, and 145,000 are ...
Alstom to provide integrated metro system for the city of Cluj-Napoca in Romania
Wednesday, May 31, 2023
Alstom to provide system integration, signalling and telecommunication, power supply, track work, platform doors, security and control centre and cybersecurity platform Alstom’s Urbalis CBTC solution to enable first fully automated metro project in Romania Alstom’s contract share worth around €400 ...
PROFI ENDED 2022 WITH REMARKABLE FINANCIAL RESULTS
Wednesday, May 31, 2023
Profi is a Romanian company, which show that the strategy, based on the New Profi format, Partnership in store management and Digitization has helped ...
Innova takes the majority stake at the Romanian payment processor Netopia
Wednesday, May 31, 2023
Antonio Eram sold the majority stake in the Netopia group of companies, whose founder he is, to Innova Capital, an important private equity investment fund from Poland, according ...
Bosch is expanding its engineering and research division to Sibiu
Wednesday, May 31, 2023
Bosch announced that it will expand to Sibiu the research and engineering division that also conducts tests with autonomous cars in Cluj and also uses AI technologies. Bosch, which owns several factories in Romania, has approximately 10,000 employees, their number increasing by 12% last year. The company continues to hire in 2023. Bosch officials said at the company’s annual conference that an ...
Various Brands and GRID, announce their financial results for the year 2022 and unveil ambitious plans for 2023
Wednesday, May 31, 2023
Various Brands and GRID, the retail group with 100% Romanian capital, highlights the financial results achieved in 2022 and reveals their ambitious plans for this year. Both brands made progress in the previous year and aim to continue this trajectory in 2023. With a growth rate of approximately 53% compared to 2021, the total turnover of the company has experienced a significant rise. In comparison to 26 million euros in ...
Globalworth signs the largest new rental contract this year in Romania with eMAG
Wednesday, May 31, 2023
Globalworth, the leading office investor in Central and Eastern Europe (CEE) and the leader of the Romanian office market, announces that it has signed an agreement with eMAG, CEE’s ecommerce shopping destination, to set up its headquarters as a tenant in the state-of-the-art building Globalworth Square in Bucharest, one of the highest-ranked buildings in Globalworth`s ...
Profitable start to 2023 for maib
Wednesday, May 24, 2023
Maib, the largest bank in Moldova, reports solid performance, achieving growth in the first quarter of 2023 amid a challenging economic and geopolitical environment. Net profit in Q1 2023 reached MDL 341 million, equivalent to EUR 16.9 million (average exchange rate Q1 2023: MDL/EUR 20.12), a 26% increase compared to the same period of 2022. Return on equity (ROE) reached 19.9%, driven by improvements in operational efficiency and asset ...
Romanians’ appetite for investments in franchises, increasing by approximately 30% in Q1 2023
Wednesday, May 24, 2023
The franchise market continues its growth at an accelerated pace in 2023, given the high interest of Romanians in opening a franchise business. Thus, in the first quarter of the year, approximately 30% more franchises were opened in Romania than in the first quarter of 2022, according to Franchwise, the largest consulting company in the field of franchises in Romania. Between January and March 2023, most franchises were ...
OCTAVIC expanded into new industries and increased company turnover by 60% in 2022
Wednesday, May 24, 2023
OCTAVIC, provider of digital solutions for factory performance, announces a 50% increase in profit in 2022 and a 60% increase in the company's business, to EUR 265 thousand. OCTAVIC managed to enrich its client portfolio with brands such as Philips, CIE Golde and Solid Food, and also supplemented the international business units in terms of collaboration with Zentiva, Avril Expur and Gedeon Richter. In ...
Bitdefender expands the partnership with Ferrari, on cyber security
Wednesday, May 24, 2023
The Romanian maker of antivirus solutions, Bitdefender, is expanding its partnership with the car maker Ferrari, to provide the Bitdefender Advanced Threat Intelligence solution to the company's global security operations.According to a press release sent on last Thursday, Ferrari S.p.A. will integrate Bitdefender Advanced Threat Intelligence into its Security Operations Center (SOC) to help Ferrari's IT security analysts validate and triage alerts faster, ...
Marsh McLennan opens new IT hub in Cluj, plans hiring 100-plus facility personnel
Wednesday, May 24, 2023
The world's leading professional services firm in risk, strategy and people Marsh McLennan is launching a new IT center in Cluj-Napoca, planning to hire over 100 personnel for the facility, the company said in a release on Wednesday.Through the new hub in Cluj, the consulting giant will offer IT career opportunities for software engineers, cloud data engineers, system analysts and project managers.The new tech hub becomes the company's main IT ...
ROCA Industry planning Electroplast takeover, transfer to main Stock Exchange market
Wednesday, May 24, 2023
Construction materials holding ROCA Industry is planning to integrate electric cables manufacturer Electroplast in its portfolio, with shareholders due to vote in June on the transaction, as well as on the increase of the company's capital by a maximum of 150 million RON and the transfer from the AeRO to the Main Market of the Bucharest Stock Exchange (BVB), the holding said in a release on Tuesday.In light of its intention to strengthen its position on the ...
Evergent Investments records net result of 2.41 million RON in first trimester
Wednesday, May 17, 2023
The investment company Evergent Investments recorded, in the first three months of this year, a net result of 2.41 million RON, composed of 4.6 million RON loss and 7.01 million RON net gain from the sale of financial assets reflected in the retained earnings, according to a press release sent on Monday night.The company reported investments of 151.6 million RON on March 31, 2023 and a total value of assets of 2.419 billion RON. The company distributed ...
Sphera Franchise Group, double-digit sales growth across brands and markets in Q1 2023
Wednesday, May 17, 2023
Sphera Franchise Group, the largest group in the food service industry in Romania, registered in the first 3 months of 2023 consolidated sales of RON 335.1 million, a 20.3% increase compared to the similar period of 2022. The Group ended Q1 2023 with a net profit of RON 7.3 million vs. a net loss of RON 10.9 million in Q1 2022, while EBITDA increased by 526% YoY, to RON 23.5 ...
Six in ten Romanian entrepreneurs want their business to stay in the family
Wednesday, May 17, 2023
Almost 60 percent of Romanian family business owners want to make sure that the business stays in the family in the long term, shows a PwC survey published on Monday.According to the Global Family Business Survey, only 63 percent of Romania-based family enterprises have plans in place for the future of the business, such as shareholder agreements (39 percent), dividend policies (39 percent), emergency plans for handling sudden or unexpected situations ...