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Lufthansa Group has new General Sales Manager for Romania

Wednesday, April 3, 2019

Lufthansa Group appointed Zlatko Zlatic as their newly General Manager Sales Romania and Moldova starting March. He will be based in Bucharest, handling all the commercial and sales activities of the Lufthansa Group Airlines in Romania and Moldova. Zlatko Zlatic, aged 52, brings a wealth of knowledge to his new position from his many years of airline management experience. With a diploma in Economics, Zlatic started his career at the Lufthansa Group in ...

Euler Hermes posts highest earnings in 10 years

Wednesday, April 3, 2019

Euler Hermes accomplished very strong results in 2018, with revenues rising 7% to EUR 2,705 million and volume-driven growth spread across most regions. Operating profit increased by 17% to EUR 431 million, due to a combination of revenues growth, higher service margins, and a lower net combined ratio. The last, which stands at 77.9%, is decreasing (-3.3%-p) thanks to higher claims run off and a lower expense ratio. Net income increased by 8% to EUR ...

Zentiva Group announces acquisition of UK based Creo Pharmaceuticals

Wednesday, April 3, 2019

Zentiva Group announces the acquisition of Creo Pharmaceuticals Ltd, a UK based company, a subsidiary of Amneal Pharmaceuticals. “We are excited to announce the acquisition of Creo Pharma, which will strengthen Zentiva’s position in the UK. The decision reflects confidence in this market and our firm commitment to the development, production and distribution of affordable, high-quality medicines. We welcome Creo Pharma team and its solid ...

Globant opens development centre in Cluj-Napoca

Wednesday, April 3, 2019

Globant, a company specialised in digital services and headquartered in Argentina, has announced the opening of a new development centre in Cluj-Napoca, where it will expand its digital and cognitive expertise to serve its portfolio of global clients. Globant was established in 2003 and has 40 development centres in 32 cities across 14 countries, and employs over 9,000 people. Its main activity centres around the digital and cognitive transformation of ...

The Romanian entrepreneurs and the names of their own companies: Last Neuron SRL or Abyss SRL

Wednesday, April 3, 2019

The National Office of Trade Registry (ONRC) has registered many companies with weird names, which have been analysed by the KeysFin specialists. According to the information from ONRC, there are 22,000 companies with names that include the word ‘Trans’, then ‘Impex’ (17,702), Construct (17,582), Consulting (11,339), Group/Grup (10,443), Invest (9,210), Euro (7,322), Top (5,122), International (5,084) and Business ...

Huawei Romania 2018 balance-sheet

Wednesday, April 3, 2019

Huawei Romania reported revenues from sales worth over USD 400 million in 2018. The acquisitions on the local market mounted to USD 150 million last year, while the taxes paid to the state accounted for USD 75 million. Huawei Romania had 2,053 employees at the end of 2018, with 81% of them being Romanians. The products and telecommunication services provided by Huawei Romania reach over 72% of the Romanian population, also serving over 35 European ...

Swissôtel Bucharest to open by end of 2021

Wednesday, April 3, 2019

Accor hospitality group has announced the opening of the first Swissôtel hotel in Romania, in Bucharest, following the signing of a management contract with the local partner and investor, Business Hotels Investment, a member of the Niro Investment Group. Upon completion, the development operated under the Swissôtel brand will feature 225 rooms distributed on 18 floors, restaurants, a pool, a Spa & Sport facility and a designated area ...

Six out of ten Romanians want to have own business, youth stand for 77pct

Wednesday, April 3, 2019


Six out of 10 Romanians, namely 63 percent want to have their own business, the percentage being significantly higher among men (72 percent), 18-23 year old youth (77 percent) and adults aged between 24 and 38 (75 percent), according to a study carried out by a market research company.The data were collected in January this year and are representative at urban level.Also, for 8 out of 10 Romanians, being independent means not being financially dependent on ...

Over 13,5k companies removed from Trade Register in Jan-Feb 2019

Wednesday, April 3, 2019

The number of the companies removed from the Trade Register dropped in the first two months of 2019 by 11.16pct against the same period of 2018, reaching 13,551 operators, according to the National Trade Register Office (ONRC).By activity fields, the highest number of deregistered companies was recorded in the wholesale and the retail trade, the motor vehicles and motor bikes' repairing, agriculture, forestry, fishing and constructions.February 2019 ...

Regina Maria put up for sale by Polish investment fund Mid Europa

Wednesday, April 3, 2019

Polish investment fund Mid Europa is looking to sell the second-largest private healthcare provider in Romania, Regina Maria, in a process that should be finalised this year, according to sources cited ...

AHK Romania's General Manager: We want to contribute to Romania's competitiveness, friendlier business environment

Wednesday, March 27, 2019

 A country's improved competitiveness results in a friendlier business environment for both Romanian and foreign companies, Sebastian Metz, General Manager of the Romanian - German Chamber of Commerce and Industry (AHK Romania) told the conference "Cities of Tomorrow" on Tuesday."Cities of Tommorow" has proven its top efficiency for the business milieu, in short for all stakeholders in urban development. The common goal of this conference, in its seven years ...

Octagon, a major Romanian construction firm, goes insolvent

Wednesday, March 27, 2019


Octagon, one of the major construction companies in Romania, has filled last week for court protection against its creditors due to growing costs, http://business-review.eu informs. Octagon is owned by two Greek citizens, Alexandros Ignatiadis and Paschalis Paganias. Octagon is currently working as construction contractor on several real estate projects in Bucharest.Constructions and real ...

Lactag recorded a turnover of RON 59 million in 2018

Wednesday, March 27, 2019

Lactag, the largest milk processor in Romania, recorded a net turnover of RON 59 million in 2018, up 36 percent compared to 2017. The Romanian company, now under the judicial administration of CITR, registered an operating profit of RON 800,000. “We are delighted that the financial restructuring strategy is starting to pay off and Lactag’s figures are improving as we expected for the first reorganization trimesters. We will continue to ...

Huercasa to open new factory in Romania, investment of EUR 3m

Wednesday, March 27, 2019

Spanish food company Huercasa is planning to open a new factory in Romania to increase its sales in Central and Eastern European countries, a region that has earned 80% of its revenues in 2018, ‘Fresh Plaza’ reports on Friday. Huercasa, part of the Anecoop fruit and vegetable producer, plans to develop a new organic product category, ‘Express Slow Food’, for the European market. The new factory will be ...

Study: Consulting services market in Romania reached 200 million euro in 2018

Wednesday, March 27, 2019

The consulting service market in Romania grew by 6% to 200 million euro in 2018 against the previous year and the trend will maintain the same this year too, a market study released on last Thursday shows. According to results reported by the main consulting companies in the area, Romania ranks second after Poland, as value of consulting services offered by the most important players in the world, in 2018. Thus, in the Polish market, consulting ...

 Florin Susanu , TAROM's interim director general

Wednesday, March 27, 2019

 Florin Susanu was appointed on Thursday by the TAROM Board of Directors as interim director general and accountable manager of the company, the air operator informs in a press release ."The Board of Directors of the National Company TAROM has appointed in today's meeting, 21 March, a new interim director general and accountable manager in the person of the commanding flight instructor Florin Susanu who is currently director of the national company's Flight ...

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 ...

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