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Over 49,200 natural and legal persons registered in first four months of 2024
Wednesday, June 12, 2024
The number of registrations of individuals and legal persons decreased in the first four months of 2024 by almost 5%, compared to the similar period of the previous year, totaling 49,210, of which 73.5%, respectively 36,172, are limited liability companies (SRL), and 11,042 (22.4%) are authorized natural persons (PFA), according to data centralized by the National Trade Registry Office (ONRC).According to ONRC, most of the newly entered were in wholesale and retail trade; ...
Ericsson cut 900 jobs in Romania, 25% of workforce, in 2023
Wednesday, June 12, 2024
The two Romanian subsidiaries of the Swedish telecommunications giant Ericsson gave up a combined 892 employees in 2023, while one of the companies had a record profit, and the second went into losses, according to the accounting balance sheets submitted to the Ministry of Finance. The business of Ericsson Telecommunications Romania decreased by 8%, to 885.7 million lei, while the profit rose by 4%, to 33.45 million lei, the highest so ...
Nearly 7,600 firms suspend operations in first four months of the year, up 38 pct
Wednesday, June 12, 2024
The number of companies that suspended their activity in the first four months of 2024 was 7,594, an increase of more than 38% compared to the same period last year, according to data published by the National Trade Register Office (ONRC).Most companies that suspended their activity were in Bucharest, namely 927 (up 28.75% compared to January-April 2023).By activity sector, the highest number of suspensions was recorded in wholesale and retail trade, ...
Romania seeks investors for insolvent strategic company Romaero
Wednesday, June 12, 2024
The debts owed to the Treasury by Romaero, a strategic state defense company specializing in aeronautics and insolvent since January, will be assumed by the Authority for the Administration of State Assets (AAAS). This institution, which operates under the Ministry of Economy and is the majority shareholder of Romaero, will take on the debts following a government decision today. The goal of this measure is to attract investors to the company. The ...
Antibiotice SA will benefit from 100M-euro worth European investment
Wednesday, June 12, 2024
The minister of investments and European projects, Adrian Caciu, on Thursday told a press conference in Iasi that drug maker Antibiotice SA will benefit from an investment of 100 million euros, European money, for the production of critical drugs.On a visit to the company Antibiotice SA Iasi, minister Caciu told journalists that this investment in the field of critical medicines was negotiated with the European Commission."The investment will have three ...
Over 2,500 companies, registered individuals enter insolvency 4 months into 2024
Wednesday, June 12, 2024
The number of companies and registered individuals (PFA) that became insolvent in the first four months of this year was 2,526, an increase of almost 15% compared to the same period in 2023, when 2,199 insolvencies were registered, according to data published on the website of the National Trade Registry Office (ONRC).In April alone, 723 insolvencies were recorded.The most companies and PFA that entered insolvency, between January 1 and April 30, ...
FlixBus to launch new routes from Romania
Wednesday, June 12, 2024
Germany-based intercity bus service FlixBus said on Wednesday that it will expand its operations in Romania by launching new summer routes from the capital Bucharest to several resort destinations in Bulgaria and Greece. FlixBus will operate day and night routes from Bucharest to Greece's Thessaloniki starting on June 19 and to Bulgaria's Sunny Beach, Varna, Albena, Balchik, Golden Sands, Byala, and Obzor starting on June 20, the company said in a ...
Glissando Garden Center has debuted on AeRO market of Bucharest Stock Exchange
Wednesday, June 5, 2024
Glissando Garden Center, a company in the Home & Garden sector in Romania and the largest in the west of the country specialized in the trade of flowers, plants and garden items, debuted on Monday on the AeRO market of the Bucharest Stock Exchange, being the third company to list on the stock exchange since the beginning of the year and the second on the AeRO market."Every company that comes to the stock exchange, whether through an IPO, private placement ...
Damen Holding requests insolvency of Damen Shipyards Mangalia
Wednesday, June 5, 2024
The minister of Economy, Entrepreneurship and Tourism, Stefan-Radu Oprea, stated, on last Wednesday, that Damen Holding requested the insolvency of Damen Shipyards Mangalia, which "is not a bad thing" and can create opportunities, but the government must defend the interests of the state and Romanian employees."In the morning I had a meeting with the directorate and with the representatives of the Navalistul union from Damen. Damen Holding requested insolvency and that's ...
Over 1,000 employees at Mangalia Shipyard enter furlough as Damen files for bankruptcy
Wednesday, June 5, 2024
More than 1,000 of the 1,500 employees of the Mangalia Naval Shipyard have entered technical unemployment by the end of this year, Rador Press Agency announces, quoting Radio Constanta. The “Navalistul” Free Trade Union and the management of the construction site have agreed to extend the Collective Labor Agreement until March next year and to resume collective bargaining in January. The first contracts could also appear from next ...
Adrian Valentin Pascu appointed as General Manager of Danone Central and Eastern Europe
Wednesday, June 5, 2024
Danone Romania announces the appointment of Adrian Valentin Pascu as General Manager of Danone Central and Eastern Europe, starting on June 1, 2024. In addition to the new role, Adrian Valentin Pascu also retains the position of General Manager of Danone Ukraine. Adrian Valentin Pascu started his career at Danone Romania in 2004, as Regional Sales Manager. Throughout his career he made a significant contribution to the growth and ...
Tavex Romania announces a turnover of almost EUR 22 million in 2023
Wednesday, June 5, 2024
Tavex Group, the largest trader of investment gold in Northern Europe and an increasingly important player in the Romanian and Southeastern European market, announces a turnover of almost 22 million euros in 2023 in Romania. The company estimates a 30% increase in business at the end of 2024. Also, last year, Tavex Romania sold more than 30,000 gold bars and over 10,000 gold coins. Thus, the company continues to strengthen its position on both the national and international market regarding ...
TeraPlast enters the Hungarian market with two plants
Wednesday, June 5, 2024
One of the largest plastics processors in the region has arrived in ...
SYMMETRICA marks 30 years of activity with 10 national factories and total investments of over 135 million euros
Wednesday, May 29, 2024
First factory inaugurated in Veresti, Suceava county in 1999 Company business has grown four times in last 10 years Investments of about 50 million euros in the largest pavement and tiles factory in SE Europe. Symmetrica, the leader of the local tile market has constantly developed in its 30 years of activity, benefitting from national ...
Marshall and Romanian manufacturer Bluespace Technology plan to open a factory in Romania
Wednesday, May 29, 2024
Marshall Company (Great Britain) and Romanian manufacturer Bluespace Technology plan to quickly develop a prototype of a military containerized solution and discuss the potential of setting up a production unit in Romania. According to a press release, Marshall signed a Memorandum of Understanding (MoU) with Bluespace Technology, through which they will explore partnership opportunities for the design, development and integration of electromagnetic ...
Digi Romania acquires Telekom Romania Mobile from Greeks
Wednesday, May 29, 2024
Digi Romania concluded on Monday an agreement in principle for the acquisition, through the West Network Invest vehicle, of a holding of over 99.99% of the share capital of Telekom Romania Mobile Communications, from the Hellenic Telecommunications Organization, according to a report submitted to the Bucharest Stock Exchange (BVB)."The company informs the market that, on May 27, 2024, Digi Romania SA (Digi) concluded an agreement in principle regarding the main terms ...
Competition Council looking at impact of Blue Air's market exit and of TAROM scaling down activity
Wednesday, May 29, 2024
The Competition Council is looking at the impact of low-cost airline Blue Air's exit from the market and of TAROM scaling down its activity, as well as at the reason why Wizzair, Ryanair and others have increased their fares so much, Competition Council president Bogdan Chiritoiu declared on Saturday."The fact that Blue Air is out of the market and TAROM reduces its activity, so out of four major actors we have about two and a half left, causes sensible effects on the ...
DP World Romania opens a new branch and expands business area in Romania
Wednesday, May 29, 2024
One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, is pleased to announce that DP World Romania, a global leader in logistics and supply chain solutions, is expanding its business operations within Romania and is opening an office in the prestigious One Cotroceni Park class A office building. The new lease ...
Ford Investing in Romanian Plant With Eye on New LCV, BEV
Wednesday, May 29, 2024
* The plant in Craiova in southern Romania will become Ford’s third European production facility to build an all-electric vehicle, following recent investments in its plants in Cologne, Germany, and Kocaeli, Turkey https://www.wardsauto.com/ informs. Ford ...
Amazon to open game development studio in Bucharest
Wednesday, May 29, 2024
Amazon will open a game development studio in Bucharest where they will work on current projects, but also on those that the company plans to initiate. Amazon is also going to hire new people for the new headquarters in the ...