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COFACE STUDY: RETAIL SALE IN NON-SPECIALIZED STORES SECTOR – POSITIVE EVOLUTION OF REVENUES IN 2018
Wednesday, February 5, 2020
In Bucharest-Ilfov region, retirees spent the most on food and drinks in 2018. Strenghts: The level of indebtedness in the sector of 61% is decreasing compared to the previous years The coverage degree of short-term debt through net cash increased from 9% in 2014, to 22% in 2018 The average duration of ...
KPMG survey : Romania’s M&A market shows strong growth
Wednesday, February 5, 2020
Stakeholders expect a further increase in Mergers & Acquisitions (M&A) activity in Romania in 2020 after one of the most successful years in the last decade. The first edition of a new KPMG publication The M&A Landscape in Romania shows investor confidence is continuing to build up, supported by the GDP growth trend and favorable geopolitical position in the region. Romania has become a significant investment destination, over the last 15 ...
NATO uses technology provided by UTI Grup within the Alliance Ground Surveillance (AGS) System
Wednesday, January 29, 2020
UTI Grup has provided core modules for two important software components of NATO Alliance Ground Surveillance System: the software command and control application for the main command and control center (MOS – Mission Operation Support) and the software application for the Transportable General Ground Stations – TGGS. The software applications provide voice and message communications, data storage, interoperability and data disseminations among the participants in ...
Outsourcing reached EUR 800 M value in Romania în 2019
Wednesday, January 29, 2020
The Business Process Outsourcing (BPO) local market has reached a value of around EUR 800 million last year, up by 8 per cent as against 2018, according to forecasts by Computer Generated Solutions (CGS) Romania. According to this source, the largest volume of projects on the local market currently comes from companies operating on the telecommunications and IT&C sectors, particularly from USA. In terms of geographic regions ...
One in four Romanian employers can afford double digit wage hike
Wednesday, January 29, 2020
While one in four Romanian employers plans no wake hike for this year, there is a significant amount of companies that are ready, therefore they afford, rising the wages by double digit rates: 20% of them would rise the wages by 10%-15% and another 6.5% would accept hiking the wages by more than 15%, according to a poll conducted by online recruiting platform BestJobs.ro. The largest group of employers (35% of total) is formed by those ready to accept ...
Subway Romania posts 2019 financial results
Wednesday, January 29, 2020
Subway restaurants in Romania are among the busiest in the entire Subway network at European level. Last year, the average guest number of the 40 Subway units in our country was 74% higher than the European average, a result that contributed to the strong profit advance in 2019. The tasty, fresh and varied menu convinced the guests of the Subway Romania restaurants to try as many products as possible, and as a result the average check value increased ...
The company WeWork abandons plans to enter RO market
Wednesday, January 29, 2020
U.S. commercial real estate company WeWork, which provides shared workspaces for technology startups and is on the brink of collapse after massive losses, has decided to abandon its plans to enter the Romanian market. Last summer, WeWork reached an agreement with local developer Forte Partners to lease a new office building next to the Telephone Palace on Victoriei avenue. Under the contract signed with Forte Partners, WeWork ...
Ro FinTechs converge to establish the Romanian FinTech Association
Wednesday, January 29, 2020
Sixteen Romanian startups and scale-ups developing proprietary technology in the FinTech sector have signed the accession documents to the Romanian Fintech Association (RoFin.Tech) in Bucharest, on Wednesday, January 22nd. Emerged on the structure of the Fintech Camp community, whose events organized from 2016 introduced the local entrepreneurial environment to the applications of technology in the financial industry, RoFin.Tech is one of the first Romanian professional ...
Online retailer Vivre Deco to raise EUR 3-5 mln in bonds
Wednesday, January 29, 2020
Romania-based Vivre Deco, one of the largest online retailers of home & decor products in Central and Eastern Europe (CEE), is preparing to launch a bond issue of EUR 3-5 million, with a maturity of at least 3 years, to be listed on the alternative system of the Bucharest Stock ...
CMS - EMIS estimates Romania’s M&A market at EUR 3.74 bln in 2019
Wednesday, January 29, 2020
The mergers and acquisitions market in Romania reached around EUR 3.74 billion in 2019, just above half of that in 2018, with the retail, real estate and manufacturing sector generating half of the transactions, shows the Mergers and Acquisitions 2019 report carried by EMIS in partnership with CMS Law firm. Romania continues to prove itself a stable provider of deals and the overall M&A activity in the country went up by 10% year-on-year to 143 ...
Airbus Helicopters Romania services Bulgaria’s fleet as production project lingers
Wednesday, January 29, 2020
Airbus Helicopters Romania (AHRO), part of the Airbus group, recently signed a five-year framework agreement with the Bulgarian Ministry of Defense for the provision of integrated logistical support services to ensure the capacity of the Panther and Dauphin helicopters, the company announced in a press release on Thursday, January 23. In the meantime, the project of a helicopter factory developed at the same location, inaugurated in 2016, is still ...
Companies from 12 CEE countries, including Romania, sign Memorandum to set up Business Council of Growing Europe
Wednesday, January 29, 2020
Representatives of 12 Central and Eastern Europe (CEE)’s biggest and most dynamic companies have signed a memorandum establishing the Business Council of Growing Europe, PAP Press Center reports quoted by romaniajournal.ro. The objective of the initiative is to promote Central and Eastern Europe as an attractive investment destination for global investors and encourage cooperation between business leaders of the region. The initiative has been ...
ALRO Slatina to get 40 ml euro yearly via aid scheme for industrial consumers
Wednesday, January 29, 2020
Aluminium smelter ALRO Slatina will receive about 40 million euros annually through the aid scheme for the support of industrial consumers through greenhouse gas emission allowances; other industrial units in the country will also benefit from this aid scheme, Environment Minister Costel Alexe announced on Wednesday in Slatina, after a visit to the aluminum production plant.The minister said that without this support ALRO was at risk to shut down, and that the ...
Brewers of Romania designate new president
Wednesday, January 29, 2020
The members of the Association Brewers of Romania have elected a new President, Dan Robinson, Managing Director Heineken Romania starting January 1, 2020. Dan Robinson took over this position from Lucian Ghinea, Director-General Bergenbier, part of Molson Coors, who represented the Brewers Association during 2018-2019. “We are proud that HEINEKEN Romania is one of Brewers of Romania Association’ founders and it is an honor for me to ...
Electrogrup enters the Bucharest construction market with EUR 5.6 M residential project
Wednesday, January 29, 2020
Electrogrup, member of the E-INFRA holding, announces the start of works for the third phase of the residential project CITTA’ Residential Park, developed by Nusco Imobiliara, one of the largest industry operators in Romania, worth over 5.6 million euro. “Our proven experience in the construction area in Romania and other European states is highlighted by the company’s first project in Bucharest. We kick off, along with our ...
Miele Appliances, 2019 turnover in Romania exceeds 10 mln euros
Wednesday, January 22, 2020
German Miele Group's business in Romania increased by 20 percent in 2019, exceeding 10 million euros, with vacuum cleaners topping the bestsellers list, followed by washing machines and clothes dryers, shows company data published on Tuesday in a press release."The year 2019 was generous for Miele also due to the number of applications launched. Thus, at IFA 2019, Miele introduced four new products that, through innovations, are technologizing the public's homes: ...
Imagination Technologies opens development and testing center in western Romania
Wednesday, January 22, 2020
British company Imagination Technologies, focusing on semiconductor and related intellectual property licensing, has opened a new center in Timisoara, western Romania. The center will focus on intellectual property designed for artificial intelligence (AI) and computer vision. The team will initially focus on software development and testing activities, expanding into areas such as system architecture and design in the ...
As many as 534,278 female shareholders/business associates in Romanian companies as of late Nov. 2019
Wednesday, January 22, 2020
The number of female shareholders or business associates in Romanian companies was, at the end of November 2019, 534,278, or 37.48% of the total shareholders or associates.According to data with the National Trade Registry Office (ONRC), male shareholders or associations were 891,129, in the 982,976 operating companies in Romania.At the same time, there were over 1.425 million business associates/shareholders in Romania that were natural persons during ...
Ford, the second brand on Romanian car market
Wednesday, January 22, 2020
The market share of Ford on the Romanian car market (including passenger cars and commercial vehicles) reached 8.58% in 2019, and the number of registrations reached 16,168 units, the company said in a statement released on Friday, January 17. The U.S. car producer, which operates a factory at Craiova, in southern Romania, was thus the second-largest player on the market (after local producer Dracia), the largest foreign brand, and the leader of the ...
Artesana to raise EUR 3 mln from the stock market for new dairy plant
Wednesday, January 22, 2020
The owners of Artesana, a dairy producer based in Tecuci (Galati county, eastern Romania), are planning to raise EUR 3 million from the Bucharest Stock Exchange for building a new factory by the end of this year. "We are very committed to making this new investment. We want to have the new factory set up by the end of 2020. The business has been growing, the outlook is very good and we thought it would be good to make another investment,” said ...