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eMAG is expanding to 5 countries following merger with Hungarian e-commerce company
Wednesday, March 27, 2019
eMAG Hungary and Extreme Digital from Hungary has announced their merger, with eMAG thus expanding in five other countries: Czechia, Slovakia, Slovenia, Croatia and Austria. eMAG Hungary aims sales of EUR 1 billion on the Hungarian market through the merger with Extreme Digital. „This partnership represents an acknowledgement of technologies’ quality eMAG has developed in the past ten years. We are sure that eMAGs expansion in the ...
Chinese rail vehicle company CRRC Sifang to submit bid in Bucharest City Hall’s tender for new trams
Wednesday, March 27, 2019
With a sales figure of over USD 5 billion in 2018 and more than 32,000 rail vehicles sold worldwide, the Chinese at CRRC Sifang want to capture the Romanian market as well. CRRC Sifang, the core subsidiary of CRRC Corporation, the largest supplier of rail transit vehicles in China, joins hands with Astra Vagoane Calatori, a renowned Romanian car-builder, to attend the bidding for a tram project issued by the Bucharest ...
Thales opens a center of excellence in Bucharest
Wednesday, March 27, 2019
French software company Thales has inaugurated a center of excellence in engineering in Bucharest, where more than 750 engineers will be hired over the next three years, said Silviu Agapi, the CEO of Thales Romania. The company now has over 250 engineers employed. “Thales already has a solid presence in Romania as a partner of the Romanian Armed Forces for more than 40 years and with industrial operations established here since 2007. The group ...
A&D Pharma buys 46 Belladonna pharmacies
Wednesday, March 27, 2019
A&D Pharma Group continues strengthening their position on the retail pharma market after buying and integrating 46 Belladonna pharmacies, http://business-review.eu reads. The pharmacies will be rebranded as Punkt, the retail chain operated by the company along Sensiblu, the other pharma retail chain. The announcement came right after ...
Aroundtown acquires 11.8 pct stake in Globalworth, the largest office owner in Romania
Wednesday, March 27, 2019
German Aroundtown has acquired an 11.8 percent stake in Globalworth real estate investor and developer. Aroundtown is a real estate company with a focus on properties with added value potential in central locations in top tier cities, primarily in Germany and the Netherlands. With a commercial real estate portfolio worth more than EUR 13 billion, Aroundtown is the largest and highest rated commercial real estate company in Germany and the 4th largest ...
John Stynes appointed as Bitdefender's new CFO
Wednesday, March 27, 2019
Cybersecurity solutions provider Bitdefender has announced the appointment of John Stynes as its new CFO. Stynes is Irish and has almost two decades of experience as a CFO of technology companies. Previously, Stynes was the CFO of Verifone for Europe and Russia, where he had a key role in the financial department’s transformation, the strategic supervision of the business and relations with European investors. His activity allowed the company to ...
eJobs recorded a turnover of EUR 9.6 million in 2018, up 20 percent
Wednesday, March 27, 2019
eJobs, the online recruitment platform part of Ringier Romania, ended 2018 with a turnover of EUR 9.6 million, up 20 percent over the previous year, http://business-review.eu informs. For the third consecutive year, the company remains the industry leader, with a market share of over 50 percent and a base that exceeded the threshold of 4 million candidates. The main growth engine of last year was job listings, ...
Labour force deficit reduces productivity: seven out of ten employers affected
Wednesday, March 20, 2019
About seven out of ten employees say they had smaller profits and business figures, because of the labour force deficit and the shortage of specialists, data of the latest opinion poll made by BestJobs recruiting site. The impossibility of finding and recruiting the best employee in due time does not only lead to rising pressure on the other employees, but also to losing important contracts with certain clients, productivity stagnation or reduction, restricting company ...
Eurostat: Romania, among the EU states with low job vacancy rates despite claims of workforce crisis
Wednesday, March 20, 2019
The impressive economic growth Romania has been experiencing during the last few years has put increasing pressure on employers to find skilled workers in order to expand their businesses, but recent official data show Romania is far from being considered to be in a “workforce crisis” situation. The job vacancy rate in Romania fell 0.1 percentage point in the last quarter of 2018 compared with the previous quarter, to 1.2 percent, the eighth lowest rate among the 28 EU ...
EU to provide EUR 2 billion for innovative startups and SMEs in 2019-20
Wednesday, March 20, 2019
Startups and small and mid-sized enterprises (SMEs) in EU member states, including Romania, will be able to access EU funds totalling EUR 2 billion in 2019 and 2020, according to a press release by the European Commission. As it wants to become a global champion in new markets based on innovation, the European Commission is creating a European Innovation Council (EIC) to turn Europe’s scientific discoveries into businesses than can scale up faster. Currently in its pilot phase, ...
Infosys opens a Digital Innovation Center in Bucharest
Wednesday, March 20, 2019
Infosys, one of the global leaders in consulting and state-of-the-art digital services and also one of the biggest companies in India, announced the opening of a Digital Innovation Center in Bucharest, with a ceremony attended by government officials and academics. The center will focus on developing projects for customers who need cutting-edge digital technologies, including Cloud, Big Data, Artificial Intelligence and Automated Learning. The center was opened in The Mark building ...
Ibanesti cheese producer Mirdatod Prod to invest EUR 7 million in new factory
Wednesday, March 20, 2019
Mirdatod Prod, the company in Mures County that owns the Telemea de Ibanesti brand, controlled by brothers Mircea and David Todoran, will increase its production capacity this year through a EUR 7 million investment for a new factory, using EU funds, according to Ziarul Financiar. The company is also planning to develop new products and expand its distribution network. Currently, the products are sold through horeca partner – mostly ...
Zentiva Group, Siyiara Enterprises ake over Romanian company Solacium
Wednesday, March 20, 2019
Zentiva Group and Siyiara Enterprises have signed a sale contract to buy Romanian-based Solacium, together with its subsidiary Be Well Pharma. Solacium is currently part of the Dr. Maz group and owned by Siyiara Enterprises together with Trasca Alexandru-Tony. „Zentiva is happy to announce the first acquisition after the separation from Sanofi in the last quarter of 2018. Solacium completes our generic medicines business and helps us develop the OTC division and the offer ...
UiPath may soon become most valuable startup in AI with possible USD 7 bn valuation
Wednesday, March 20, 2019
Robotic Process Automation (RPA) company UiPath, founded by Daniel Dines and Marius Tirca in Bucharest, is reportedly in talks to obtain a major new financing round that could take the company’s valuation to USD 7 billion, more than doubling the current value, according to Business Insider quoted by http://business-review.eu. The valuation is not yet very ...
ABSL Report: The EUR 4 billion outsourcing industry is employing 125,000 people, but has a potential of 300,000
Wednesday, March 20, 2019
Business Service Leaders Association (ABSL) launches the annual salary and benefits report for employees in the outsourcing industry. Among other findings, the report shows that the salary for the entry level of employees with no industry experience can in many cases be up to 30 percent higher compared to the economy minimum of higher education employees. The study conducted in partnership with KPMG examines seven processes / types of items in the ...
Over 513,000 women were shareholders or associates to the companies in Romania at the end of January
Wednesday, March 13, 2019
The number of women shareholders or associates in the companies in Romania was,at the end of January 2019 of 513,195, a share of 37,44%, a total of shareholders or associates says the data of the National Office of the Commerce Register (ONRC).According to the presented data,the male shareholders or associates were a total of 857,384 (share of 62.56%) in the 936,706 active companies of Romania. At the same time, the total number of ...
Many SMEs in Romania will be affected by Brexit and they have no backup plans
Wednesday, March 13, 2019
Many small and medium-sized entreprises (IMM) in Romania will be affected by the exit of the UK from the European Union, and SMEs, by comparison to the big entreprises have no backup plans for this situation, said on Tuesday night the adviser in the Ministry for Business environment,commerce and entrepreneurship (MMACA) Bogdan Mihailescu.According to his opinion, the Romanian SMEs do not take into consideration the Brexit.‘We had a survey ...
TAROM- 25% business increase in January 2019
Wednesday, March 13, 2019
National air operator TAROM reports a 25% business increase in January 2019 compared to the same period of 2018 and announced incomes higher by 19 million lei. “The number of passengers transported by TAROM grew by 17% in the same period analysed,” says a TAROM press release. The company also announces a plus of 19 million lei in January 2019, compared to the same period of 2018 to the overall income chapter. For ...
Competition Council authorises takeover of Belladona pharmacies by Sensiblu
Wednesday, March 13, 2019
The Competition Council authorised the transaction by which Sensiblu took over 46 drug stores belonging to Belladona group. Sensiblu activates in the retail trade market of pharmaceutical and para-pharmaceutical products, also carrying out occasional distribution activities. The company is part of the group of companies controlled by Penta Investments, a group specialised in long term investments in different sectors. Penta ...
PwC poll: Half of companies faced fiscal inspections in 2018
Wednesday, March 13, 2019
About a quarter (22%) of the 139 companies in Romania participating in a PwC poll faced fiscal inspections in 2018, while 56% of those who received negative or partially favorable solutions in contesting documents chose to go to court to solve the matter, a press release of the company released on Thursday shows. According to the poll, inspections made by the Fiscal Anti- fraud Department were, in the first 9 months of 2018, 45% more compared to ...