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TEILOR opens its fourth store in Hungary
Wednesday, January 18, 2023
TEILOR, the chain of luxury jewelry stores with presence across the CEE region, continues its international expansion by opening its fourth location in Hungary. The new unit has a total area of 150 sqm, making it the largest TEILOR store to date, and is located in Budapest, as the brand’s other three stores in the ...
Allianz Risk Barometer 2023: Cyber and business interruption top threats as economic and energy risks rise
Wednesday, January 18, 2023
Allianz Global Corporate & Specialty (AGCS) publishes 12th annual survey of key business risks around the world, according to 2,700+ respondents Natural catastrophes and Climate change drop down the rankings as companies prioritize pressing macroeconomic concerns – inflation, the energy crisis and possible ...
Romania becomes a strategically important market for WEBCON
Wednesday, January 11, 2023
WEBCON, one of the leading global companies that deliver an Enterprise Low-code Application Platform (LCAP) for business process automation and management, has decided to expand its operations in Romania and increase its market presence, both organically and together with Romanian partners and clients. The company has ongoing partnerships with Romanian system integrators, who deliver solutions for their clients using the ...
Optimism back in the markets on labor and inflation cooldown
Wednesday, January 11, 2023
Macro commentary by eToro analyst for Romania, Bogdan Maioreanu Financial markets at the beginning of 2023 are not very different from the ones in 2022. But the latest inflation and labor data in the US is bringing some hope. However, we might still be very far from the reversal of current interest rate policies. Attention of the markets goes to the elements that may determine Central Banks to shift their current ...
2Performant exceeds the EUR 100 million threshold in sales generated in 2022
Wednesday, January 11, 2023
2Performant, a technology company and the leader of the affiliate marketing market in Romania, announces sales of 101.9 million euros (without VAT) generated by its platform in 2022, a 39% increase compared to the previous year, surpassing for the first time the 100 million euros threshold in the value of sales generated in a single year. Of this amount, 35.6 million euros were generated in the 4th quarter alone, ...
QUALITANCE becomes part of the ALTEN Group
Wednesday, January 11, 2023
QUALITANCE, the international technology and innovation company founded in Romania becomes part of the ALTEN Group, following the approval of the acquisition transaction by the Romanian Competition Authority. Furthermore, the company founders will be pursuing the directions they have focused on for the past few years. Radu Constantinescu will continue to lead the company operations as Managing Director ...
Number of delisted companies go up by 10.88% during first 11 months of 2022
Wednesday, January 11, 2023
The number of companies delisted at national level increased by 10.88% in the first 11 months of 2022, compared to the same period of the previous year, up to 65,503 delistings, according to the statistics of the National Trade Registry Office (ONRC).The most deletions were registered in the city of Bucharest - 10,852 (plus 11.97% compared to January-November 2021) and in the counties of Cluj - 3,104 (plus 23.71%), Constanta - 2,851 (plus 8.9%) and Timis - ...
Board of Directors of Altur Slatina approve opening of general insolvency procedure
Wednesday, January 4, 2023
The Board of Directors of Altur SA Slatina approved on Tuesday the opening of the general insolvency procedure according to the provisions of Law 85/2014, according to a report submitted to the Bucharest Stock Exchange (BVB)."The Board of Directors of Altur SA Slatina (...) informs the shareholders and investors that it has approved the opening of the general insolvency procedure according to the provisions of Law 85/2014 on insolvency prevention and ...
Electrolux announces collective layoffs, more than 100 personnel to be made redundant
Wednesday, January 4, 2023
Home appliance producer Electrolux Satu Mare notified the authorities that it is initiating collective layoff procedures due to the sales slump caused by the war in Ukraine, the Prefect's Institution informs on Facebook on Tuesday.As many as 100 of a total of 740 employees are facing redundancy in the first stage.SC Electrolux Romania SA has seen a decline in the number of orders starting in March 2022 as a result of a significant loss of orders ...
More than 35,000 companies were dissolved by the end of November
Wednesday, January 4, 2023
The number of dissolved companies increased by 23.02%, between January 1 and November 30, 2022, up to 35,368, compared to 28,749 in the same period of 2021, according to the data centralized by the National Trade Registry Office (ONRC).The most dissolutions were registered in Bucharest, respectively 6,581 companies (number increasing by 25.62%), and in the counties of Constanta (1,828, +22.68%), Cluj (1,698, +31.83%), Timis (1,674, +23.18%) and Ilfov ...
As many as 13,528 businesses suspend their activity over Jan - Nov 2022
Wednesday, January 4, 2023
The number of companies that suspended their activity in the first eleven months of 2022 was up by 16.58 pct from the same period of 2021 to 13,528, shows data released by the National Companies Registry Office (ONRC).As many as 1,341 businesses suspended their activity this November - 150 based in Bucharest, 74 in Cluj County, and 61 in Brasov County.Most companies that put their business on hold in the first eleven months of 2022 were from ...
Softronic, first beneficiary of de minimis aid for increasing competitiveness of industrial products
Wednesday, January 4, 2023
The Softronic company from Craiova, which produces locomotives, is the first beneficiary in Romania of the de minimis aid for increasing the competitiveness of industrial products, the financing contract being signed on Tuesday, at the company's headquarters, by its representatives and Minister of Economy Florin Spataru."It is the first financing contract for the state aid scheme for increasing competitiveness and I am glad that the first ...
Bittnet Group raises EUR 2 M from BVB Investors in a private placement for corporate bonds
Wednesday, January 4, 2023
Bittnet (BNET), a group of IT companies listed on the Main Market of the Bucharest Stock Exchange, announces the successful closing of a private placement for corporate bonds. The private placement ran between December 21st and 27th, during which 53 investors subscribed 20,596 euro-denominated bonds. The offer was oversubscribed as it overpassed the targeted maximum threshold of 20,000 bonds and was therefore ...
AROBS shareholders approve the takeover of the entities from the Republic of Moldova, AROBS Software and TrackGPS
Wednesday, January 4, 2023
AROBS Transilvania Software, a technology company listed on the Bucharest Stock Exchange, announces the complete takeover of the entities from the Republic of Moldova, AROBS Software SRL and AROBS TrackGPS SRL (TrackGPS by AROBS Moldova), owned by Voicu Oprean. The company’s shareholders approved the two transactions during the General Shareholders’ Meeting held on December 22, 2022. Voicu Oprean abstained from voting on the two items on the ...
143,828 individuals, legal persons, registered in the first 11 months of 2022
Wednesday, January 4, 2023
The number of registrations of individuals and legal persons increased, in the first 11 months of this year, by 2.99 pct, compared to the similar period in 2021, up to 143,828, of which 107,828 are limited liability companies (SRL), according to centralized data by the National Trade Register Office (ONRC).The most registrations were registered in the Municipality of Bucharest, respectively 27,428 (plus 23.47 pct, compared to January-November 2021), and in the ...
ONRC: 6,022 companies and freelancers face insolvencies in Jan-Nov 2022
Wednesday, January 4, 2023
The number of companies and authorized natural persons (PFA) that went into liquidation increased by 10.64% in the first 11 months of 2022, compared to the similar period last year, with 6,022 insolvencies being recorded, according to the data published on the website of the National Trade Register Office (ONRC).The most companies and PFAs facing insolvency were recorded in Bucharest, respectively 1,040, increasing by 4.42% compared to January-November ...
Cargus aims for expansion on large international markets in 2023
Wednesday, January 4, 2023
The main growth factors in 2022 were: the domestic ecommerce market, international partnerships, increase in the subscription segment, fueled by a mature service portfolio, investments in logistics and efulfillment solutions, technology and omnichannel solutions. The subscription segment had the most impressive increase and is expected to increase with over 70% by November ...
Mercedes plant in Sebes will build engines for electric cars from 2024
Wednesday, January 4, 2023
German car group Mercedes-Benz on last Wednesday presented a plan worth more than one billion euros to adapt its global production capabilities to the manufacture of electric propulsion systems, including the assembly of batteries, motors and electric axles, starting in 2024, reports Reuters. In ...
Limitless Agency closes down the year with a turnover of approximately 4 million euro
Wednesday, December 21, 2022
The Romanian digital marketing company Limitless Agency closes down the year with a turnover of approximately 4 million euro and would like to extend next year in the US and the UK. Besides getting on new markets, the company will invest in the improvement of services and consolidation of the teams of SEO, PPC and Data Analytics. The representative of the company says ...
Roca Agri RDF holding finalizes the acquisition Dachim and Supliment
Wednesday, December 21, 2022
Roca Agri RDF, the agricultural holding of Roca Investments finalizes the acquisition of Dachim and Supliment, authorized transaction by the Competition Council. The agricultural surface exploited by Roca Agri RDF gathers 4,000 ha, and the consolidated turnover at the level of the holding gets to 150 million euro, with a level of EBITDA of 7.5 million euro. With a developing portfolio, Roca Agri RDF consolidates its ...