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Rockwool keeps hiring at its new Romanian factory
Wednesday, June 17, 2020
Danish producer of thermal insulation materials Rockwool will expand its activity in Romania by launching the first products made by "Dual Density" technology in Romania, and a new "Monodensity" range. The company will also hire more people at its factory in Prahova, according to an official statement. At the end of last year, Rockwool opened its first factory in Romania after a EUR 50 mln investment. The factory has a capacity of approximately 45,000 tons per year, ...
Number of citizens with employment agreements down by 14,000 in May against same month of 2019
Wednesday, June 17, 2020
Prime Minister Ludovic Orban on Tuesday stated that the number of persons with employment agreements dropped by 14,000 in May 2020 compared with the same period last year."Very many analysts, political leaders from the Opposition predicted the apocalypse in the employment field: a scary unemployment. We have even been accused of not taking measures for it. But I will just give you a few data in exchange. In May, the number of citizens with employment agreements - and not the ...
Bonami opens its first physical retail store
Wednesday, June 17, 2020
Bonami, the furniture and decorations store, which most customers know from the online environment, has opened its first physical store in the shopping area of Cerny Most, in Prague, Czech Republic. Interior design lovers thus have the opportunity to see the ranges to try out the products, but also to order, return, exchange or buy directly, all in one place. In an area of approximately 200 square meters, there is a selection of accessories, lighting fixtures, as well as furniture, ...
Support measures for employees of companies whose activities are still restricted to be extended
Wednesday, June 17, 2020
The support measures granted to employees of companies whose activities are still restricted will be extended while restrictions are being maintained, Labour and Social Protection Minister Violeta Alexandru announced on Friday."Employees of the companies whose activities are still restricted, namely the activities in restaurants, entertainment and activities with a large crowd, theater performances, enclosed playgrounds, for all these areas where persons on childcare leave or ...
Eurostat: Romania, among the states with a high percentage of hairdressers and beauticians
Wednesday, June 17, 2020
In 2019, 1.7 million people aged over 15 were employed as hairdressers and beauticians in the European Union (EU), representing 0.9% of total employment. With their profession often ...
CXO Research: Legacy Technology & Lack of Skills Hindering Digital Transformation and IT Modernization
Wednesday, June 17, 2020
* Veeam 2020 Data Protection Trends Report indicates global businesses are embracing Digital Transformation, but struggle with antiquated solutions to protect and manage their data; data protection must move to a higher state of intelligence to support transformational needs and hybrid/multi cloud adoption. As organizations look to transform their business operations and revolutionize customer service, Digital Transformation (DX) is at the top of most CXOs’ agendas; in ...
Dr. Bock Industries closes factory in central Romania
Wednesday, June 17, 2020
German company Dr. Bock Industries recently announced that it decided to close the RHM Pants factory in Covasna, central Romania, due to fewer orders amid the COVID-19 pandemic, Business ...
BVB: Companies' financing costs can only be minimized through capital market
Wednesday, June 17, 2020
The main purpose of any company operating in the energy sector is to minimize financing costs, and this minimisation will only happen on the capital market, the managing director of the Bucharest Stock Exchange (BVB), Adrian Tanase told the Online Energy Forum ."I don't think we are where we have to be, but we are on the right track in terms of capital market infrastructure. We will be promoted to emerging market status in September this year. Only two companies - Banca ...
AmCHam: Maintaining Romania in the category of countries recommended for investments must be a priority of the economic policy
Wednesday, June 17, 2020
AmCham Romania believes that Standard & Poor’s maintaining of Romania’s sovereign rating at “BBB- with a negative perspective” reflects the realities faced by the national economy after the shock generated by the COVID-19 pandemic. The decision was based on a number of factors, including low levels of public debt and external debt, Romania’s ability to borrow, the NBR’s monetary policy and the programs announced by the European Union. On the ...
German investor sells stake in Romania’s largest air carrier
Wednesday, June 17, 2020
German Airways group sold its 10% stake in Blue Air, the largest Romanian air carrier and the second-largest player on the local market, after Wizz Air. The stake, acquired by the German company at the beginning of last year, has been transferred to Blue Air's majority shareholder, Romanian investor Teodor Cristian ...
Aerostar Bacau estimates sales drop by 100 million lei, to 278 million lei this year
Wednesday, June 10, 2020
Aerostar Bacau, a company specialized in manufacturing aviation products, maintenance for commercial planes and defence systems, estimates a sales drop by 100 million lei to 278 million lei this hyear and a net profit drop by 33 million lei to 10 million lei, according to a report sent to Bucharest Stock Exchange (BVB) which shows that the return to the 2019 situation will last a few years, after the unprecedented economic crisis affected the aviation ...
Holde Agri Invest to launch second private placement to raise RON 12 M for investments in irrigation and storage
Wednesday, June 10, 2020
Holde Agri Invest SA, a Romanian agricultural company operating farmland, will launch in June 2020 a new private placement for its shares. It will be the second capital markets operation for Holde, which in December 2019 sold approximately 9 million new shares in a private placement and attracted 10 million lei from 27 Bucharest Stock Exchange investors. “In uncertain times, when stock markets are volatile, and the threat of a recession is ...
Kaufland Romania's business increased in 2019 by 9%
Wednesday, June 10, 2020
The business of the German retailer Kaufland Romania increased last year by 9%, to 11.87 billion lei, and the net profit by 7.5%, to 847.66 million lei, according to the data reported by the company to the Ministry of Finance. Kaufland Romania is the fourth largest player on the local retail market, with an approximate turnover of RON 11.87 billion and one of the largest private employers on the local market, reads the latest impact study released by ...
Number of newly established companies on foreign capital down 35% four months into 2020
Wednesday, June 10, 2020
The number of newly established companies on foreign capital went down 34.46% in the first four months of the year, as against the similar interval of 2019, to 1,288 units, according to the data centralised by the National Trade Register Office (ONRC).The 1,288 new companies had a total subscribed share capital worth 2.145 million dollars, down 56% from Jan-April 2019.On April 30, 2020, the highest number of foreign shareholding companies was with ...
29,780 individuals, companies, registered in Jan-April 2020, 46.99pct drop over similar period of 2019
Wednesday, June 10, 2020
The number of registrations of individuals and companies has dropped in the first four months of 2020 by 46.99 pct over the similar period of 2019, to 29,780, of which 21,115 (71 pct) are LLCs, according to the data centralized by the National Office of the Trade Register (ONRC).Most registrations were recorded in Bucharest, namely 5,011 (minus 19.86 pct compared to January-April 2019), and the counties of Cluj - 1,560 (minus 38.02 pct), Ilfov - 1,392 (minus 22.92 ...
FinMin Citu: 8 bln lei available through large companies support program
Wednesday, June 10, 2020
The support program for large companies has an allocation of 8 billion lei, with a multiplier effect of almost 28 billion lei in the economy, and it will be operational in three weeks or maximum one month, Finance Minister Florin Citu announced on last Thursday evening after the government meeting."We approved the Memorandum for the large companies support program. As you know, we announced from the very beginning that Romanian large companies will benefit from ...
BAT expands factory in Ploiesti under EUR 175 mln project
Wednesday, June 10, 2020
British American Tobacco (BAT), the largest tobacco company in Romania, has completed a EUR 175 million investment in its factory in Ploiesti, the company announced. "The major component of this investment was the transformation of Romania into a center for the production of consumables for tobacco heating products for the European Union," said Ram Addanki, director of Asia, Central and Southern Europe, BAT. The investment added ...
Terapia eyes 10% growth this year
Wednesday, June 10, 2020
Romanian pharmaceutical producer Terapia targets a 10% rise in revenues this year, assuming that the exports return to the levels seen before the coronavirus pandemic, according to the company's CEO Dragos Damian. The company's revenues improved marginally to RON 736 million (EUR 155 mln) last year. Damian expects the new clawback law to have a positive impact on revenues and profitability. He expressed hopes for more aggressive ...
IMM Invest programme: 3,083 companies took funds
Wednesday, June 10, 2020
Minister of Public Finance Florin Citu on Thursday stated that the IMM Invest programme (SMEs Invest) works very well and 3,083 companies took funds until now."We have eliminated several barriers a couple of weeks ago, we have approved an emergency ordinance and today we have the Government decision that approves the norms. The IMM Invest programme works very well. We already have 3,083 companies which took funds. (...) This means that we have already granted 2.45 ...
McDonald's restaurants reach record sales and profits in Romania
Wednesday, June 10, 2020
Premier Restaurants, the company that operates the McDonald's fast-food restaurant chain in Romania, recorded a turnover of RON 927 mln (EUR 195 mln) in 2019, up by 21% compared to the previous year. The net profit went up by 40%, to RON 123 mln (EUR 25.9 mln), according to official financial data reported at the Finance Ministry. These are the best results McDonald's has seen in Romania since the opening of its first restaurant ...