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SEROUSSI brand opened its first outlet in Bucharest
Wednesday, March 27, 2024
The SEROUSSI brand announces the opening of its first outlet in Bucharest. The outlet come up with significant discounts of over -70% for all clothing, be it suit for special events, a shirt for the office or casual clothing. “The opening of the new SEROUSSI outlet is more than a simple expansion of the company’s presence on the ...
SII Romania has a new CEO
Wednesday, March 27, 2024
SII Romania, a multinational company specialized in software engineering and technology consulting, announces the appointment of a new General Manager – Iulia Surugiu, who has extensive expertise in business operations and management, and over a decade of experience within the company. She takes the lead from Manel Ballesteros, who ran the local branch for the past 15 ...
Practic posts 29% drop in net profit in 2023
Wednesday, March 27, 2024
Romanian real estate leasing company Practic [BSE:PRBU] said on Monday it recorded a net profit of 26.9 million lei ($5.8 million/5.4 million euro) in 2023, down from 37.8 ...
One United Properties eyes 16% rise in profit in 2024
Wednesday, March 27, 2024
Romanian real estate developer One United Properties [BSE:ONE] said on Monday it expects its net profit to grow by 16% year-on-year to 105 million euro ($113.6 million) in ...
ROMATSA expects net profit of 3.744 million RON for 2024
Wednesday, March 20, 2024
The Autonomous Directorate "Romanian Air Traffic Services Administration - ROMATSA" has foreseen for this year a gross profit of 4.416 million RON and a net profit of 3.744 million RON, according to the project on the budget of revenues and expenses, published on the website of the Ministry of Transport.The total revenues of the director are estimated at 1.6 billion RON, of which almost 1.593 billion RON are operating revenues. Revenues from ...
3,905 company dissolutions registered in January 2024
Wednesday, March 20, 2024
The number of dissolved companies increased by 15.74%, in January 2024, to 3,905, compared to 3,374 in the same period last year, according to the data centralized by the National Trade Registry Office (ONRC).The most dissolutions were registered in Bucharest, respectively 800 companies (number increasing by 17.47% compared to January 2023) and in the counties of Constanta (226, plus 35.33%), Ilfov (203, plus 47.1 %), Cluj (165, minus 14.58%) ...
2,450 companies suspend activity in January 2024
Wednesday, March 20, 2024
The number of companies that suspended their activity in January 2024 reached 2,450, an increase of 46.88% compared to the same period last year, according to data published by the National Trade Registry Office (ONRC).The most companies that suspended their activity were from Bucharest, respectively 277 (number increasing by 30.66% compared to January 2023).By field of activity, the largest number of suspensions was ...
PwC Romania: The volume and value of transactions completed last year were the lowest in the last three years
Wednesday, March 20, 2024
The Romanian M&A market recorded 189 completed deals worth EUR 4.3 billion last year, down by around 20% from 2022, when it reached EUR 5.2 billion, according to analysis by PwC Romania. Last year's result was largely underpinned by the deal in which Greek group PPC bought Enel Romania, a transaction worth EUR 1.3 billion, ...
M&A Report 2024: Romania
Wednesday, March 20, 2024
Market overview The Romanian M&A environment remains volatile. A number of smaller deals are happening, but there are few big projects, and limited expectations for the remainder of 2024. This reserved trend is accentuated by the Ukraine war, and 2024 being an election year not only in Romania but also for the European Parliament and in the US, circumstances that appear to have ...
Two major Romanian IT companies prepare layoffs
Wednesday, March 20, 2024
Two large Romanian companies specializing in IT have announced to their employees that layoffs will be made. NTT Data Romania, formerly EBS Romania, would lay off several employees, and the process seems to be similar at Cognizant, formerly Softvision, both companies being established in Cluj, according to mass media ...
NETOPIA in the industry spotlight: 14% increase in group turnover
Wednesday, March 20, 2024
NETOPIA Group, the innovation leader in the online payment processing industry, presents its financial results for the year 2023, confirming significant growth in both turnover and processed transactions. “We are proud of last year’s results. The accelerated growth trend of the past 3 years motivates us to develop new payment services and solutions to support our business partners. The ...
Symmetrica grows turnover 20% in 2023
Wednesday, March 20, 2024
Romanian paver manufacturer Symmetrica said its turnover rose 20% year-on-year to 260 million lei ($57.2 million/52.3 million euro) in 2023. The company sold more than 7 million sq m of pavers last year, up by 12% compared to 2022, it said in a press release. Symmetrica attributed its growth in 2023 mainly ...
OECD: Stronger institutions and public finances would help boost productivity, growth and incomes for Romania
Wednesday, March 13, 2024
Romania’s economy has performed well in recent years, driving living standards higher and supporting convergence with OECD countries, but high inflation has put a drag on households’ purchasing power, according to the ...
Government: About 11,500 companies to benefit from IMM Invest Plus state aid
Wednesday, March 13, 2024
Mihai Constantin, spokesman for the government, announced that the Executive had decided to continue applying the support measures set up by the state aid IMM Invest Plus. He pointed out that the emergency order will support business and will facilitate company access to cash. The government decided to continue the application of support measures set yp by IMM Invest Plus änd its components. The new state aid will be applied until June 30, 2024, ...
Alezzi estimates a turnover of over 50 million euros for 2024, up by 150% compared to last year
Wednesday, March 13, 2024
Alezzi, one of the most important local real estate developers in Romania, estimates a turnover of over 50 million euros in 2024, an increase of about 150% compared to 2023, when it recorded a turnover of over 20 million euros. At the same time, the company expects to end the current year with a profit of 12 million euros, higher than last year when it reached 5 million euros. The total value of Alezzi’s investment in its real estate projects has ...
Romania’s Gender Pay Gap is nearly 3 times lower than EU average
Wednesday, March 13, 2024
* nPloy uses AI to engineer equality in the workplace in Romania and the CEE ? Women in Romania earn on average 4.5% less than men, well below the European Union average of 12.7%. Still, the indicator in the private sector is way higher (8.6% on average). ? Over 50% of employees and over 40% of HR ...
US citizen takes over Romanian Allied International Defense Control
Wednesday, March 13, 2024
US citizen Charles Douglas Anderson owns 77% of the Romanian Allied International Defense company after he bought the stakes held in the company by Romanian associates Ionel Rusen, Aurel Cazacu, Marian Neagu, according to a decision of the company, quoted by Economica.net. The company that will produce ammunition wants to buy the shares held by George Becali in the Dragasani Mechanical Plant. In order to be perfected, the transaction must ...
Romania, largest share of female investors on stock exchange of countries where XTB fintech platform is present
Wednesday, March 13, 2024
Romania is the undisputed leader in terms of the share of women among investors in countries where the XTB fintech platform is present, with a rate of 20% as of 2023.According to a press release from the specialized platform, sent on last Friday, eight out of ten XTB clients in Romania are on maternity leave or have children and are looking for ways to increase their savings. At the same time, after Romania, the regions with a significant share of women investors are: ...
Over 609,000 female shareholders or associates in Romanian companies as of late January
Wednesday, March 13, 2024
The number of female shareholders or associates in Romanian companies was standing at 609,470 at the end of January 2024, making up 36.5% of the total shareholders or associates, according to statistics with the National Companies Registry Office (ONRC).According to the same data, male shareholders or associates numbered over 1.06 million (63.5%) in the total of 1,669,759 associates or shareholders in Romania as of the end of January 2024.The total number ...
Romania has the lowest percentage of female investors
Wednesday, March 13, 2024
by eToro analyst for Romania, Bogdan Maioreanu March 8 is International Women’s day that celebrates the achievements of women and pushes for equal rights progress.The first recorded celebration was in 1911 in Austria, Denmark, Germany and Switzerland when over a million people rallied to support women's rights. But the struggle is not over, there are still a lot of misconceptions to fight and they are not limited to the women's places ...