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eMag invests over 1.5 million Euro in refurbishing head office

Wednesday, April 7, 2021

Online retailer eMag will invest over 1.5 million Euro for refurbishing its head office into a collaborative space, given that 3,000 employees expressed their intention that in the following period they wish to work in a hybrid system, according to a press release sent by the company, on Monday.In the context determined by the COVID-19 pandemic, the company carried out a series of internal studies, both quantitative and qualitative, through which it analyzed ...

Chimcomplex turns to profit in 2020

Wednesday, April 7, 2021

Chimcomplex, the largest chemical group in Romania, announced a net profit of RON 95 million (EUR 20 mln) for 2020, while its EBITDA reached RON 257 mln (EUR 54 mln) or 22% of its turnover.   The group targets RON 330 mln (EUR 67 mln) EBITDA and plans RON 120 mln (EUR 24.5 mln) investments this year. The operating revenues for 2021 are estimated at RON 1.6 bln (EUR 326 mln), based on exports of RON 1 bln, ...

Telekom Romania - the group of companies with the fastest growth rate of mobile subscribers

Wednesday, April 7, 2021

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Telekom Romania stood out last year with a significant increase in the number of mobile postpaid subscribers, of 6.3%, to 1.65 million, a trend that seems to continue in 2021.   At the same time, according to the “Study which measures the market share of mobile service providers for individuals”, conducted by the Mia Marketing Institute, on a nationally representative sample, in ...

JTI invests EUR 60 million in its Romanian factory

Wednesday, April 7, 2021

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JTI will invest EUR 60 million to upgrade the Romanian factory’s production capacities. As a result of the investment program which will be deployed over the next three years, the volume of cigarettes manufactured in our country will increase, and within the Pipera platform our factory will play a key role in JTI’s sourcing to the European Union Markets. At present approximately 70% of JTI’s manufacturing production is exported to ...

ONRC: 2,089 companies have suspended their activity in Jan-Feb 2021

Wednesday, April 7, 2021

 The number of companies that suspended their activity in the first two months of 2021 decreased by 5.73pct, compared to the same period in 2020, down to 2,089, according to data published by the National Trade Register Office (ONRC).Most of the companies that suspended their activity in January-February 2021 were from Bucharest, respectively 233 (up by 27.32pct compared to the same period of 2020), the Capital City being followed by the Bihor county, ...

Study: Employment restarts in Romania

Wednesday, April 7, 2021

The biggest career fair in the country, TOP Employers, returns this spring in an online format, on Hipo.ro and aims to once again support both people who are looking for a job, regardless of level experience as ...

US slashes anti-dumping tax for RO aluminum producer Alro from 84% to 37%

Wednesday, April 7, 2021

The United States Department of Commerce (DoC) announced its final decision on the anti-dumping tariffs for aluminum sheets imported from 18 countries, including Romania.The DoC revised its original position and reduced the tariff for the Romanian producer Alro from 83.94% to 37.26% of the value of the imported sheets, the Romanian aluminum producer announced in ...

ONRC: 803 companies partially running on foreign capital registered in Jan-Feb 2021

Wednesday, April 7, 2021

  The number of newly established companies partially running on foreign capital has dropped by 10 per cent in the first two months of 2021, compared to the same period last year, to 803 units, according to data centralized by the National Trade Register Office (ONRC).The 803 newly established companies had a total share capital of 10.94 million US dollars, by 6.5 higher than the number of companies registered in Jan-Feb 2020, of 1.68 million US ...

ONRC: 24,851 authorised individuals and legal entities registered in first two months of 2021

Wednesday, April 7, 2021

 The number of registrations of authorised individuals and legal entities increased by 17.74% in the first two months of 2021 compared to the similar period of the previous year, to 24,851, of which 17,997 SRL (limited liability company), according to data centralized by the National Trade Register Office (ONRC).The areas in which most registrations have been made are wholesale and retail; repair of motor vehicles and motorcycles - 5,721 (plus 23.8%), ...

Despite the challenges caused by the Covid-19 pandemic, M&A deal making in Central & Eastern Europe remained robust in 2020.

Wednesday, April 7, 2021

Thanks to its strong fundamentals, the CEE region continued to attract international investments, doing quite well in comparison with other emerging markets. This publication offers an overview of the inbound M&A activity in the CEE region throughout 2020 and looks ahead to the opportunities and challenges in the coming months. Key ...

Macron, Orban urge EU to ‘actively support’ nuclear power

Thursday, April 1, 2021

A group of seven European leaders fronted by French President Emmanuel Macron has called on the European Commission to stop hindering nuclear power and consider ways of bringing atomic energy into the EU’s green finance rule book ahead of an EU summit on Thursday (25 March), euractiv.com informs.   In a letter addressed to the EU executive, the seven leaders openly declared their support for nuclear ...

Hidroelectrica takes a loan of 1.25 billion lei from BRD for wind and solar power projects

Thursday, April 1, 2021

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BRD Groupe Societe Generale offered Hidroelectrica a loan of   1.25 billion lei for the projects of renewable energy, this being the biggest green loan offered in Romania, according to the bank press release.Financing, offered for a period of seven years, has as an object the acquisition of shares and direct investments in operational projects based on energy produced by wind and solar power. ‘Hidroelectrica  takes into ...

Transelectrica and electricity distribution operators announce total investments of 1.68 billion lei this year

Thursday, April 1, 2021

The National Authority for Regulation in Energy (ANRE) approved total investment of at least 1.684 billion lei for the transport and system operator Transelectrica and electricity distribution operators which are concessioned for 2021, announced ANRE on Wednesday.   Similarly, the operators of electricity transport grids and distribution had in 2020 total investments worth 1.563 billion lei, meaning over ...

Romania’s natural gas consumption to rise by 50% within ten years

Thursday, April 1, 2021

În Romania, the natural gas consumption may increase by 50% in 2020-2030 if the authorities plan to replace coal with natural gas in the energy basket, according to estimates voiced by Dumitru Chisalita - the president of the Smart Energy Association.   Under the baseline scenario sketched by the authorities, Romania will retrofit its coal-fired power plants to burn natural gas and will connect ...

HIGHER WATER TAX WILL BURDEN HIDROELECTRICA

Thursday, April 1, 2021

Fondul Proprietatea (“the Fund”) expresses its serious concern regarding the potential adverse impact on Hidroelectrica of the increased water tax the company should pay to the National Agency Apele Romane (“ANAR”), according to Law Project PL-x 97/2021 for the approval of Government Emergency Ordinance no. 225/2020 on amending certain normative acts and establishing measures in the field of agriculture, a press release sent by the company ...

Christina Verchere, CEO OMV Petrom: We are at the core of the shift towards a low-carbon energy system

Thursday, April 1, 2021

For many years now, the Romanian O&G market is taking one blow after another, as local legislation changed rapidly, and not only for the better, as European targets placed more and more burdens on the O&G sector, as the international prices varied from under 17 to over 74 dollars pe barrel. At the same time, new technologies helped the group to improve its operational performances; the wide and synergic activities, from Upstream, to Downstream, processing and ...

Giles Dickson, WindEurope: Romania needs to invest for a power grid fit for the green transition

Thursday, April 1, 2021

New onshore wind installations in 2020 were around 20% less than WindEurope had predicted pre-COVID, however, offshore wind installations were not affected much by the crisis. European manufacturers have adapted to the situation, and we don’t see significant supply-chain disruptions any longer. And Contracts for Difference are one of the best solutions to revive Romania’s wind energy impetus, but Romania needs to invest in grid infrastructure and make its ...

Double budget compared to 2020 for Administration of the Environment Fund

Thursday, April 1, 2021

  The Ministry of Environment announced a double budget for the programs carried out through the Administration of the Environment Fund (AFM) in 2021, of 2.8 billion lei.   The draft Government Decision for the approval of the budget of revenues and expenditures for 2021 of the Environment Fund and the Administration of the Environment Fund (AFM) was published for public consultation on the ...

CARMEN smart grid project, which could connect Hungary, Romania and the Republic of Moldova, on the list of EC priorities

Thursday, April 1, 2021

A comprehensive modernization project of the electricity network in northern Romania has been included by the European Commission on the fifth list of project proposals of common interest (PCI). If approved, it will receive direct funding from Brussels from grants. The smart grid project will better connect networks in Hungary, Romania and the Republic of Moldova and, among other things, will allow a greater integration of producers from renewable sources, according to ...

KPMG study : Nearly half of global CEOs don’t expect to see a return to ‘normal’ until 2022

Wednesday, March 31, 2021

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A majority of CEOs will wait for more than 50 percent of the population to be vaccinated before returning to the office. Nine out of 10 leaders intend to ask their employees to report when they have been vaccinated in order to protect the wider workforce. There has been a steep decline in the appetite of global executives to downsize their company’s physical footprint as global CEOs reconsider the ...

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