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Trade Register: Almost 52,000 companies deleted last year

Wednesday, February 10, 2021

 The number of companies deleted at a national level has gone down last year by almost 49%, in comparison with 2019, to up to 51,715 deletions, according to the National Trade Register Office (ONRC).On activity areas, the largest number of deletions was registered in the retail and wholesale commerce, vehicle and motorcycle repairs - 14,017 (minus 53,18% reported to 2019), constructions - 4,844 (minus 48.51%) and professional, scientific and technical activities - ...

Tesla opened the first office in Romania

Wednesday, February 10, 2021

US company Tesla has opened its first office in Romania. The new office is located on Calea Serban Voda, district 4, Bucharest.   Tesla, owned by one of the richest men in the world, Elon Musk, has more investment plans for Romania, as it intends to build more Supercharger charging stations in several cities in Romania, such as Timi?oara, Sibiu, Pite?ti and Bucharest. Other cities like Craiova and Braila could also reach the short ...

Commoditrader expands partnership with the Romanian Corn Producers Association - APPR

Wednesday, February 10, 2021

Commoditrader expands the partnership with APPR – the Romanian Corn Producers Association for ...

Competition Council imposed over EUR 80 M fines in 2020

Wednesday, February 10, 2021

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The Competition Council imposed fines of over EUR 82.7 million last year, with 2020 ranking third on terms of total fine revenues enforced by the authority over the years.   However, unlike the previous years, over 40% of the total amount of fines was acknowledged by the companies, which means that some firms admitted the deeds and were granted discounts.“We expect that many companies do not challenge the fines in ...

OLX Romania has new General Manager

Wednesday, February 10, 2021

The advertising platform OLX has announced the appointment of Sebastiaan Lemmens  as General Manager (OLX Romania, Portugal, Bulgaria, Bosnia) starting this ...

Kostas Papagiannis is the new MSD Romania’General Manager

Wednesday, February 10, 2021

Kostas Papagiannis takes over the general manager position of MSD Romania starting February 1. In the new role, he will focus on further developing the company’s presence in the local market, as well as creating sustainable solutions to increase patients ‘access to innovation and improve patients’ quality of life.   For the past three years, Kostas Papagiannis has been the Managing Director of MSD Bulgaria, Northern Macedonia and Kosovo. In this ...

Vodafone Romania reports the financial results for the Quarter ended December 31st, 2020

Wednesday, February 10, 2021

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* Service revenue was EUR 193 million in the quarter ended December 31st, 2020 lower by -2.1% compared to the same period of last year.   Vodafone Romania announces the key performance indicators for the quarter ended December 31st, 2020, as reported by Vodafone Group Plc.The Service Revenue is €193 million and continue to be stable on quarterly evolution. The reported service revenues compared to the same period of last year is ...

Romania issues ‘memorandum’ blocking Chinese firms from public infrastructure projects

Wednesday, February 3, 2021

The Romanian government has adopted a “memorandum” last week that would block the awarding of public infrastructure contracts to companies coming from countries that do not have a bilateral trade agreement with the EU.   If enacted into law, the memorandum would have the effect of excluding Chinese firms from public contracts for highway or railway projects, euractiv.com ...

Zitec recorded incomes of 10.5 million euros in 2020

Wednesday, February 3, 2021

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Zitec, a market player for IT & digital marketing in Romania, specialized in the development of digital transformation solutions and services, recorded a business figure of 10.5 million euros in 2020, on the rise by 50% compared to the previous year, the company announced.   For this year, Zitec is counting on the development of software development segments, cloud and e-commerce solutions, mobile ...

Trade Register: 10,913 companies suspend activity in 2020

Wednesday, February 3, 2021

The number of companies that suspended their activity has gone down in 2020, by 22.27% from the previous year, reaching 10,913, according to the data published by the National Trade Register Office (ONRC).As regards the business areas, the largest number of suspended companies were in the retail and wholesale commerce, repair of motor vehicles and motorcycles, namely 3,014 (-29.58%), in other service activities - 1,140 suspended companies (-12.38%) and in ...

Investment Plan for Europe supports businesses in Romania affected by the COVID-19 pandemic

Wednesday, February 3, 2021

The new cooperation between the European Investment Bank (EIB), European Investment Fund (EIF) and Deutsche Leasing Romania will enable local companies across Romania to benefit from €370 million of additional leasing finance.   The EIB Group support is backed by a guarantee from ...

Number of dissolved companies decreases 25.52% in 2020

Wednesday, February 3, 2021

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The number of dissolved companies decreased by 25.52% in 2020, compared to the previous year, to 25,384, versus 34,080 companies in 2019, according to data centralized by the National Trade Register Office (ONRC).The most dissolutions were registered in Bucharest, respectively 4,914 companies (decreasing by 16.78% compared to 2019) and in the counties of Timis (1,295, minus 24.58%), Cluj (1,251, minus 23.72%) and Constanta (1,233, minus 28.19%).In no ...

Trade Register: 5,694 companies go insolvent last year

Wednesday, February 3, 2021

The number of companies and authorized individuals (PFA) who became insolvent dropped by 12.72% in 2020, in comparison with the previous year, being registered 5,694 insolvencies, according to the data published on the website of the National Trade Register Office (ONRC).Most companies and PFAs that became insolvent were registered in Bucharest, namely 1,286, rising by 3.79% as opposed to 2019.By activity areas, last year, most insolvencies were ...

Haier to open Ploiesti-based 70 ml-euro refrigerator plant this spring

Wednesday, February 3, 2021

Haier Tech Romania, a member of the world-leading appliance manufacturer Haier Group, the largest home appliance company in China, announced that works on the first Haier refrigerator production facility in Europe advance according to schedule and that production will start at the end of spring 2021."This large-scale investment project exceeds 70 million euros. The 63,000 sqm plant sits on a 130,000-sqm plot in the Allianso Industrial Park in Aricestii ...

KeysFin Macro Update : The resistance of the Romanian business environment in the pandemic

Wednesday, February 3, 2021

However, the challenges of Romanian managers continue in 2021 and their success depends on the performance of the local authorities in balancing the fiscal adjustment with supporting the economy, according to the latest edition of the KeysFin Macro Update report.   The number of insolvencies, suspensions, dissolutions or strikes off of companies ...

Assa Abloy to invest EUR 10 mln in Romania by 2025

Wednesday, February 3, 2021

Assa Abloy, a Swedish manufacturer of locks that exports 95% of the production from its Romanian plant, drafted an investment plan of EUR 10 mln to be implemented by 2025.The company will consequently increase its employment in Romania, currently of 450-550.   The products made here reach over 20 European countries such as Sweden, England, France, Spain, Germany, Belgium, the Netherlands, Italy. Only 5% of the production is ...

Safetech Innovations starts trading on BVB's alternative market

Wednesday, February 3, 2021

 Romanian cybersecurity company Safetech Innovations [BSE:SAFE] started trading on AeRO, the alternative market of the Bucharest Stock Exchange (BVB), the bourse announced on Friday.   "The Bucharest Stock Exchange remains at the center of our strategy for the coming years. We have ambitious plans for the future, and we are confident that, following today's listing, we will be able to grow at an even ...

Atu Tech to allocate 1 million Euro for business development, in 2021

Wednesday, February 3, 2021

The online security system store Atu Tech will allocate 1 million Euro in 2021 for business development support, according to a press release sent by the Romanian company."The company continues, thus, the investment plan started last year, when it allocated over 2 million Euro, as a part of a 2-year investment strategy, meant to bring the business to a new level. So, in 2021, the company will continue the investment in its new logistic headquarters and in ...

Datacor eyes 15% rise in turnover in 2021

Wednesday, February 3, 2021

 Romanian integrator of intelligent infrastructure solutions Datacor said on Thursday it plans to launch its products on the European market and expects a 15% rise in turnover this year, to 51.75 million lei ($12.86 million/10.62 million euro). The main objectives for the company in 2020 were to develop the necessary capabilities in order to be able this year to launch its products on the European market and maintain ...

ARIR: 15 listed companies receive over 9 VEKTOR 2020 evaluation, double from 2019

Wednesday, February 3, 2021

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The Romanian Investor Relations Association (ARIR) published for the VEKTOR indicator for the second time, for the companies listed in the Regulated Market within the Bucharest Stock Exchanges (BVB)'s website.According to ARIR, VEKTOR is the communication indicator with investors for the companies listed in the stock exchange and is calculated based on a methodology which includes 15 criteria, in line with the best international practices in relation with ...

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