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PwC’s Survey:The Future of Audit – Perspectives on how audit could evolve

Wednesday, August 28, 2019

Companies and investors believe that audit reports should provide more clarity and insight into the company’s potential risks and future prospects and on how well-equipped the auditor thinks the company is to manage them, according to PwC’s Survey The Future of Audit – Perspectives on how audit could evolve. Most of those interviewed appreciate the quality of the present audit activity, but believe it can be ...

UPS appoints Yannick Mooijman as new managing director for Romania

Wednesday, August 28, 2019

UPS (NYSE:UPS) announced the appointment of Yannick Mooijman as its managing director for Hungary, Greece, Romania, and Slovenia, where he is responsibile for UPS’s operations, business development and strategy. He replaces Jim Kearney, who was promoted to vice-president, finance, UPS Emerging Markets. “Yannick has the experience to help UPS customers grow their business by tapping into cross-border and intercontinental trade flows, ...

Bayer names Jorge Levinson to manage the pharmaceutical business for Romania and Moldova

Wednesday, August 28, 2019

Bayer announces another top-level appointment effective starting August 2019. Jorge Levinson will lead the Pharmaceuticals Division, managing the business in Romania and the Republic of Moldova. He takes over ...

Sodexo Romania takes over 7card, becomes largest provider of corporate subscriptions in recreative activities

Wednesday, August 21, 2019


The full package of shares of 7card was taken over, this month, by Sodexo Romania in a transaction started in 2016, the representatives of the two companies announced in a press conference held on Monday."The transaction we successfully completed this month consolidates the market for extra-salary benefits and allows us to offer companies in Romania even more support in the implementation of their programs for employee retention. The 7card integration between our services, an ...

DB Global Technology increases equity capital by EUR 14.6 M

Wednesday, August 21, 2019

DB Global Technology S.R.L. (DBGT), Deutsche Bank’s technology centre in Bucharest, has increased its equity capital by EUR 14.6 million to further develop the business in Romania. Deutsche Bank opened the technology centre in Bucharest six years ago, developing financial ...

GEZE Romania reports growing business of EUR 4.4 M in the financial year 2018-2019

Wednesday, August 21, 2019


GEZE Romania, a company operating in the premium door, window and security technology, has announced financial results of 4.4 million euros for the fiscal year 2018-2019, up to 10% compared to similar period of last year. The category of automatic sliding door systems has the highest share in the total business, followed by the segment of revolving doors, which have made the most progress due to the launch of new ranges of large revolving doors. “The business successes of ...

Electrica Group posts H1 consolidated net profit of 109 mln lei

Wednesday, August 21, 2019

The Electrica Group registered, in the first six months of this year, a consolidated net profit of 109 million lei, a figure that represents 90pct of the annual budgeted value, informs the company in a release .According to the quoted source, the first quarter loss, in the amount of 41 million lei, was covered by a net profit of 150 million lei registered in the second quarter.The consolidated net profit budgeted for the year 2019 amounts to 121 million lei, so that ...

Safetech Innovations reached RON 4.9 million in revenues in the first semester

Wednesday, August 21, 2019

Safetech Innovations, one of the most important players on the Romanian information security market, ended the first half of 2019 with RON 4.9 million in revenues, a 22 percent increase compared to the same period of 2018. The net profitability has doubled in the first semester of 2019, reaching RON 279,000 compared to RON 133,000 in the first half of last year, thus becoming the best semester ever registered in the company’s history. The increase in the revenues in the first ...

Vox Technology Park to invest EUR 1.1 million in fitness club

Wednesday, August 21, 2019

Vox Technology Park from Timisoara leased 2,100 square meters to Nextfit, which will open in November an fitness club within the office project. This will be one of the largest fitness clubs from Timisoara after it will be opened at the first floor of Vox Technology Park. Nextfit will invest EUR 1.1 million in the space fit out and also in the purchasing of the Technogym equipment, global leader on the fitness equipment segment that integrates technology. Technogym is the official ...

The Competition Council authorized the partnership between Dedeman and Element Invest Partners

Wednesday, August 14, 2019

The Competition Council announced on Monday that they authorized the trading through which Dedeman and Element Invest Partners took over jointly the companies Element Distribution and Element Distribution Faza Doi, with a view to developing a real estate project. The trading is the association of Dedeman and Element Invest Partners with a view to developing a real estate project – the building of three logistics warehouses for renting. The ...

Ciech Soda Romania announces that they will stop the production in the factory în Ramnicu Valcea starting next month

Wednesday, August 14, 2019


The leadership of the company Ciech Soda Romania, the owner of the only factory of sodium carbonate in the country, announces that, starting with September they will stop production in the unit in Valcea,  hundreds of employees being in danger of being laid off. The representatives of the company with Pole capital informed on Friday in a press release that  the main reason for which they have to take such a measure is the increase of the ...

Conpet H1 net profit up by 44.2 pct to 31.18 ml lei

Wednesday, August 14, 2019

National transporter of oil and petroleum products Conpet posted a net profit of 31.180 million lei in H1 2019, by 9.554 million lei (44.2 percent) higher compared to the 21.626 million lei reported in the same period of the previous year, shows a company report submitted to the Bucharest Stock Exchange.The operating profit as of June 30, 2019 was by 9.804 million lei (42.1 percent) higher compared to the same period of 2018.The company reported in H1 ...

Sphera Franchise Group's H1 profit up 6.2pct from restaurant business

Wednesday, August 14, 2019

Sphera Franchise Group reported a 6.2pct increase in profit from restaurant business in the first half of this year, to 49.4 million lei, and consolidated sales of 446 million lei, higher by 27.3pct compared to the same period of the previous year."The profit from operating restaurants increased by 6.2pct compared to the same period of last year, up to 49.4 million lei, supported by an annual increase of 35pct in Q2. EBITDA advanced by 17.0pct up to 36.7 million ...

Over 6.4 mln individual employment contracts registered end-March

Wednesday, August 14, 2019

The number of individual employment contracts registered in the General Registry of employees increased in March by 29,934 compared to the previous month, at the end of the first quarter being recorded 6,425,112 CIM, according to the data centralized by the Ministry of Labor and Social Justice.Of the total individual labour contracts registered, 91.5 pct (5,879,167 contracts) were for an indefinite period, of which 5,195,670 full-time and 683,397 ...

Telekom Romania reports performance indicators for Q2’19

Wednesday, August 14, 2019

Telekom Romania group announces key performance indicators in the second quarter of 2019, ended June 30, 2019, as reported today by OTE Group. Consolidated revenues of Telekom Romania group in Q2’19 reached EUR 231.2mn, which represents an increase by 6.7% compared to Q1’19 and a slight decrease by 2.8% YoY, also driven by lower handset revenues, ...

Insolvencies down, strike-offs up in H1 2019 in Romania; big companies facing hardships

Wednesday, August 14, 2019


Company insolvencies in Romania declined 33pct in H1 2019 , but the decrease is nullified by an increase in stricken-off companies, while delays in payment increased significantly, and big companies are facing with a difficult economic environment, according to a recent Coface study."A new study conducted by Coface Romania in the development of insolvencies in Romania in H1 2019 points to a decrease in the number of insolvent companies in by 33pct amidst a ...

Antibiotice Iasi posts 11 pct higher year-on-year net profit in H1 2019

Wednesday, August 14, 2019

Medical drugs manufacturer Antibiotice Iasi (ATB) reported a net profit of RON 22.3 million in the first six months of 2019, an 11 percent increase compared to the same period of 2018, with sales revenues of RON 172.3 million, 9 percent higher than the corresponding period of the previous year, according to the report published by the company on the Bucharest Stock Exchange website. At the end of June 2019, spending on raw materials and consumables had ...

MEDIjobs opens first US office, gets USD 900,000 investment

Wednesday, August 14, 2019

MEDIjobs, the biggest medical recruitment platform in Romania, has obtained USD 900,000 in a new funding round led by Gapminder VC and other business angel investors. The company’s first angel investor was doctor Wargha Enayati last year. In July, MEDIjobs opened its first office in New York, US, and already has 63 clients who together need to recruit over 1,000 people annually. The company plans to consolidate its presence on the US East Coast ...

Antibiotice Iasi becomes the 15th member of the Association for Relations with Investors on the Stock Exchange

Wednesday, August 7, 2019


Antiobiotice Iasi has become the 15th member of the Association for Relations with Investors on the Stock exchange of Romania (ARIR), organization set up in November 2018,a press release of the drugs producer says. Antibiotice has in its portfolio over 150 generic medicaments for infectious diseases, as well as for those who suffer from cardio-vascular, derma, digestive pathologies, of the central nervous system and women’s ...

Uber opens in Bucharest its biggest driver & courier support center in CEE 

Wednesday, August 7, 2019

Uber has opened the largest driver support center in Central & Eastern Europe in Bucharest, following an investment of a quarter million dollars, http://business-review.eu/ informs. The new 320 sqm space has been designed based on international standards for Uber support centers, the company announced on Tuesday. It will host a team of 11 experts and has the capacity to serve up to 2,500 drivers and couriers per ...

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