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Delphi Technologies, big producer of auto parts, opens an IT centre in Bucharest

Wednesday, October 10, 2018

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A company producing propulsion systems for the automotive industry -Delphi Technologies opened the first IT center in Bucharest, with 150 employees, which will provide services for the company's technology centers, factories and support service divisions of the company. "The Bucharest team will develop innovative technical solutions and services to support more than 20,000 employees worldwide," said Edward Mandic, Vice President and Chief Information ...

The business people in Hong Kong interested in the IT&C sector in Romania

Wednesday, October 10, 2018

The business people in Hong Kong are interested by the IT&C of Romania state the officials of the Chamber of Commerce and Industry of Bucharest (CCIB) which organised in the capital city an economic mission to facilitate an exchange of ideas and information.The economic  mission organised by the Chamber of Commerce Hong Kong of China (HKCCC) was led by Warren Law, executive manager of COV Capital Group, investment company with offices in Beijing Hong ...

Report: About 1.5pct of Romania's economically active population work in outsourcing industry

Wednesday, October 10, 2018

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The outsourcing industry is employing approximately 125,000 persons in Romania, which is about 1.5 percent of Romania's economically active population, according to the annual report of the Association of Business Service Leaders Romania (ABSL) released on Tuesday at the sixth edition of the ABSL annual conference "Romania at the Forefront of Innovation".The study conducted by ABSL together with KPMG estimates that the outsourcing industry generated revenues of ...

Dacia increases production in Romania by 4.6 pct in Jan-Sep to 242,602 cars

Wednesday, October 10, 2018

Romanian carmaker Dacia, controlled by French group Renault, has increased its production at the local plant in Mioveni by 4.6 percent in the first nine months of this year compared with the same period of 2017, up to 242,602 vehicles, according to the Association of Automobile Constructors in Romania (ACAROM) quoted by http://business-review.eu. The model with the highest production was Dacia Duster (166,087 units), followed by Dacia Sandero (35,371 ...

Romania is losing its lohn auto and textiles companies în favour to Republic of Moldova, Macedonia or Serbia

Wednesday, October 10, 2018

The companies working in a lohn system have started to leave Romania, and they are choosing The Republic of Moldova, Macedonia or Serbia, says Valentin Malaescu, the CEO of packaging and relocation company Modpack. He believes that under the current wage pressures, in 5-10 years Romania’s lohn industry in automotive and textiles will no longer be competitive.  ”There are many signals that factories working in lohn, generally in the ...

Study: Romanian companies lower forecast regarding turnover, profit and investment in 2018

Wednesday, October 10, 2018

Romanian companies have adjusted downward their estimates regarding turnover, profit and investment in this year as a consequence of higher costs and difficulty to find workers, according to a study released by Valoria. The study is based on answers from 475 managers operating in 14 major sectors. According to the study, 29 percent of companies expect their turnover to increase by 5-10 percent this year against 2017, while 30 ...

Statistics: 1.7 mln people work in agriculture to produce 4.4 pct of GDP while the 200,000 employed in IT&C add over 5 pct to national income

Wednesday, October 10, 2018

Romania’s workforce is severely unbalanced as more than 1.7 million people work in agriculture with very low productivity, while other 200,000 contribute more to the gross domestic product (GDP) by working in high value-added IT&C sector. According to an official report released by the National Institute of Statistics, 1.74 million people, representing 20.8 percent of Romania’s total workforce (8.37 million), worked in agriculture at ...

Alro continues the USD 61 mln investment programme

Wednesday, October 10, 2018

Alro, one of Europe’s largest vertically integrated aluminium producers by capacity, continues its USD 61 million investment programme for 2018, focusing on extending the client portfolio, enhancing the quality of hot rolled products and reducing energy dependency. ”We continue to implement our complex investment strategy, which covers three major areas: products quality and production mix with a focus on sophisticated markets, operational ...

One in four Romanian employers planning to recruit students between October and December

Wednesday, October 10, 2018

One in four Romanian employers are planning to recruit students between October and December 2018, according to the most recent study by HR platform BestJobs, http://business-review.eu informs. Currently, 58 percent of employers say that up to 5 percent of their employees are still students, while in the case of 22 percent of employers, one in five employees is a student. Half of employers estimate that they ...

Vardinogiannis Group Oks social capital increase of Marfin Bank by EUR 30 M

Wednesday, October 10, 2018

Vardinogiannis Group has concluded the process of increasing the social capital of Marfin Bank by EUR 30 million, with the aim of supporting the bank’s growth on the local market. At the same time, the bank has fully paid back the loan subordinated to the Bank of Cyprus, following the go-ahead granted by the National Bank of Romania. “We believe in the local market’s potential and we are determined to ...

Gov't adopted GEO on insolvency procedure: We believe constitutional exigencies were met

Wednesday, October 3, 2018

The Government on Thursday adopted an emergency ordinance (GEO) on the modifications brought to the law regarding the insolvency procedure, Minister of Justice Tudorel Toader has made the announcement at the Victoria Palace, specifying that "the constitutional exigencies were met" by this normative act."We adopted the emergency ordinance regarding the modifications brought to the law regarding the insolvency procedure. (...) The economic, social, cultural life has ...

The first three countries in the top of the foreign investors in Romania in 2017

Wednesday, October 3, 2018

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The first three countries in the top of foreign investors in Romania had 51.3%of the balance of direct foreign investments (FDI) since the end of last year up to38.917 billion euro, a growth of 12.3% against the previous year, says the study presented by the BNR quoted by ‘Ziarul financiar’ daily news. In the top of the FDI balance on 31 December 2017 the first country is the Netherlands – with a share of 25.9% growing from 24.3% in ...

ONRC: 12,168 companies suspended their activity in the first eight months of 2018

Wednesday, October 3, 2018

The total number of companies which suspended their activity increased in the first eight months of this year with 21.16% against the similar period of 2017 from 10.043 companies to 12,168 companies according to the data centralised by the National Office of the Trade Register.The biggest number of companies which suspended their activity was registered in Bucuresti – 1,413 and in Bihor county – 657, Cluj – 557 and Prahova – ...

42,139 companies SRL-D functioned at the end of August

Wednesday, October 3, 2018

The number of limited liability companies, start-ups (SRL-D) in operation at the end of August amounted to 42 139, with 3.56% more than the same period last year, says the statistics published on The web the National Trade Register Office (NTC). In August this year were established 141 such companies, most in Cluj (18). Regarding all SRL-D set up in Romania were in August, 45 788 such companies, of which 3.649 radiated. Also, 1,342 companies ...

Competition Council authorised takeover of Argo Greece and Argo Romania by Alpla Pharmaholding

Wednesday, October 3, 2018

The Competition Council announced on Tuesday that it had authorised the transaction by which pharmaceutical distributor Alpla Pharmaholding, a member of Alpla Group, took over the manufacturer of rigid plastic packings Argo Commercial and Industry, Anonymous Society of Plastics from Greece (Argo Greece) and Argo Rom Plastics (Argo Romania). The decision will be published on the site of the competition authority, after eliminating confidential ...

Smart Start USA is launched, with USD 500 M for Romanian companies

Wednesday, October 3, 2018

The Smart Start USA programme with a 500-million USD budget to finance the Romanian companies that wish to extend to the US market was launched on Tuesday, the initiator and coordinator of the programme, Ilan Laufer, also Vice President for the relation with the US of the National Coalition for Romania's Modernization (CNMR) told a news conference.The said programme's main target is to create Romania's first ecosystem dedicated to the increase of the export and ...

German-Romanian Chamber of Commerce and Industry inaugurates in Cluj a branch for Transylvania region

Wednesday, October 3, 2018

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Problems related to the human resource, bureaucracy and lack of predictability are the most important facing the German investors in Romania, according to the President of the German-Romanian Chamber of Commerce and Industry AHK Romania, Dragos Anastasiu.He participated on Friday in Cluj Napoca in the inauguration of an AHK branch in Transylvania.According to the AHK representatives in Romania, Germany is one of the most important economic partners of ...

ONRC:About 24,000 companies dissolved Jan.-Aug. 2018, up 31.75 pct

Wednesday, October 3, 2018

The number of dissolved companies in Romania increased by 31.75 percent in the first eight months of 2018, to 23,958 companies, compared with 18,185 in the same period of 2017, according to data with the National Companies Registry Office (ONRC).Most dissolutions were recorded in Bucharest - 4,799 companies (plus 31.05 percent as against the first eight months of 2017) and in the counties of Timis - 1,256 (plus 38.63 percent), Cluj - 1,241 (plus 45.49 percent) and ...

Abris to sell Urgent Cargus, the #2 courier business in Romania

Wednesday, October 3, 2018

Abris Capital Partners, the Central & Eastern European private equity fund manager, has sold 100% of its shares in its Romanian portfolio company, Urgent Cargus S.A., to Mid Europa Partners, romaniajournal.ro informs. Abris CEE Mid-Market Fund II acquired Cargus in 2013, attracted by the growth potential of both the company and the sector in which it was operating. Two years later, Abris merged Cargus with one of its direct competitors, Urgent ...

Insolvencies fall by 2.48pct, Jan.-Aug. 2018; suspensions, dissolutions up 21.16pct, 31.75pct

Wednesday, October 3, 2018

The number of firms and individuals facing insolvency fell by 2.48 percent in the first eight months of 2018 compared with the similar period of 2017 to 5,615, according to data posted in the on the website of the National Companies Register Office (ONRC).Most of them are in Bucharest - 1,105, down 10.02 percent over the same period of 2017. The next largest such insolvencies were reported for the counties of Bihor - 386 insolvencies (+ 21 percent), Timis - 300 (+ ...

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