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DT-OTE group reportedly agreed to sell Telekom Romania fixed-line operations to Orange 

Wednesday, September 25, 2019

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The Deutsche Telekom - OTE group has reportedly agreed to sale stake in Telekom Romania to Orange, but they still need green right from the Romanian state, which would have pre-emption rights, sources close to the talks have told HotNews.ro. Romanian Communications minister Alexandru Petrescu offered PM Viorica Dancila on July 22 to create and coordinate a inter-ministerial group uniting representatives of multiple ministries and intelligence service and a first session of the group was ...

Agricover net profit, up 31 pct in H1, 2019

Wednesday, September 25, 2019

Agricover Credit IFN (non-banking financial body, ed. n.), a financial institution aimed at financing Romanian agriculture, ended the first half of 2019 with an operating result of 26.8 million lei and a net profit of 23.3 million lei, up by 31pct compared to the same period last year, according to a press release sent on Friday.In the first six months, Agricover Credit IFN provided financing worth 576.4 million lei to a number of 3,465 farmers, the credit exposure exceeding 1.64 ...

Romania ranks 3rd in Coface CEE Top 500

Wednesday, September 25, 2019

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Romania went up on the 3rd position from the 4th position in the Top 500 companies in Central and Eastern Europe - Coface CEE Top 500, with 61 companies, increasing from 56, this development being due to the expansion of consumption, County Manager of Coface Romania Eugen Anicescu told a news conference ."The development of the Romanian economy was a dynamic one in terms of consumption. We see that we have a significant number of players in the trade sector. This significant ...

Study: Over 70 pct of micro-enterprise activity in Romania generated by firms with turnovers below EUR 250,000

Wednesday, September 25, 2019

According to a new study carried out by Instant Factoring on micro-enterprises in Romania (companies with a turnover of up to EUR 500,000) has found that these firms have continued on a steady growth trajectory: in 2018, there were 524,900 active companies – 2.5 percent more than the previous year. They achieved a total turnover of RON 129 billion and a profit of RON 27.5 billion (21 percent of the turnover and an average of RON 52,390 per company), while 72 percent of the consolidated ...

Vodafone Romania appoints new finance Director starting December

Wednesday, September 25, 2019

Marius Corcoman joins Vodafone Romania as Finance Director and member of the executive management team, reporting to Vodafone Romania’s CEO, Murielle Lorilloux, effective December 2019. Marius Corcoman will replace Sibaji Biswasb who decided to ...

Holde Agri Invest closes first round of financing raising EUR 5 million from Romanian investors

Wednesday, September 25, 2019

Holde Agri Invest, a Romanian agricultural company operating farmland, announces that it has successfully closed its first round of financing, during which it has raised EUR 5 million from a number of notable local investors and investment funds. The money raised during the transaction will be directed into extension of the farming land operated by the company, purchase of farming equipment and the development of the team. Among the investors who participated in the first round of ...

Grandstream enters Romanian market after signing for distribution with Macro International

Wednesday, September 25, 2019

Grandstream, an American company specialized in providing telecom solutions, announces its entry into the Romanian market through Macro International Distribution, which thus becomes the only official distributor for the United States manufacturer’s unified SIP and VoIP communications solutions. Thus, telecom solutions integrators, installation service providers and resellers throughout Romania have immediate access to all solutions in the Grandstream portfolio, without having ...

Kathrein, mobile communications antenna producer, invests in a new unit in Timisoara

Wednesday, September 25, 2019

Dunwell, the biggest Industrial Real-Estate agency in Romania, has assisted the German company Kathrein, specialized in antenna production for mobile communications, broadcast and ground reception, in opening a new 5,000 sqm production unit in Timisoara. In their new unit, Kathrein will produce antennas and telecommunication systems that will be sold both on the local and the global market. Kathrein owns another production unit in Timisoara, with ...

Over 2,600 companies with debts of over 1 million lei in 2018 may enter insolvency

Wednesday, September 18, 2019

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Over 2,600 companies may enter insolvency, according to a Veridio analysis that refers to companies identified in Government order 6/2019 with debts of over 1 million lei on December 31, 2018 which do not present notification on restructuring by September 30, 2019. The authors of the analysis say the competent fiscal body will request the beginning of the insolvency procedure in 60 days after February 8, 2020, according to law 85/2014. Companies that are in special ...

Survey: More than half of Romanian employees will demand a raise or look for a better-paying job by the end of the year

Wednesday, September 18, 2019

Over half of Romanian employees are planning to request a salary increase or look for a new job by the end of this year, with insufficient earnings as their main source of dissatisfaction, a survey conducted by online recruitment platform BestJobs shows. Six out of ten respondents stated that they were planning to actively seek another job, and another 7 percent were considering this possibility. A quarter of respondents said they would not look for another job, but if they received ...

IKEA posts losses in Romania in 2018

Wednesday, September 18, 2019

The revenues of Swedish furniture retailer Ikea in Romania rose by 8% in 2018 compared to 2017, to RON 680 million (EUR 146 million), Ziarul ...

More than 55pct of legal entities' associates/shareholders in Romania aged 30 to 49 yr old

Wednesday, September 18, 2019

Most of the shareholders or associates of the legal entities registered in Romania in July were between 30 and 49 years of age, representing 55.3pct of the total, according to the data released by the National Trade Register Office (ONRC).As many as 28.82pct of the associates/shareholders of the active legal entities in Romania (405,814 associates/shareholders) were aged from 40 to 49, while 26.49pct (372,954) were aged between 30-39 years. The ones aged between 50-59 years ...

Wetterbest to take over 100 percent of Cortina WTB

Wednesday, September 18, 2019

Wetterbest, one of the leaders of the local roofing systems industry and part of the TeraPlast Group, the largest Romanian manufacturer of building materials, has reached an agreement for the complete takeover of Cortina WTB, a manufacturer and distributor of metallic tile in the Oltenia area. As a result, Wetterbest increased its stake from 51 percent to 100 percent of the company’s capital. The transaction is to be finalized after obtaining the approval from the Competition ...

Romanian entrepreneurs showing interest in AI development over global growth

Wednesday, September 18, 2019

Entrepreneurs in the artificial intelligence (AI) field are building startups that aim to disrupt large swathes of the economy, ranging from healthcare to telecommunications, retail, finance and transportation. Some USD 1.9 billion worth of venture capital deals involving AI and machine learning companies had been carried out in Europe by the end of summer, already exceeding the funding raised last year.  Globally, AI-based startups from China and the USA have raised billions of ...

State Mint closes year with profit growing to 4 million RON

Wednesday, September 18, 2019

The State Mint Autonomous Administration closed 2018 with a profit of 4 million RON, an increase of 56.5 pct over the previous year when it obtained a profit of 2.55 million RON according to a report of the institution.The State Mint had a turnover of 72.2 million RON, an increase of 41 pct over 2017, when it reported a turnover of 51.24 million RON.The production sold was of 71.28 million RON. The operating income totalled 69.98 million RON. The labor costs totalled ...

Draft law on development of new SMEs through business accelerators and incubators approved by Gov't

Wednesday, September 18, 2019

The Romanian Government on Thursday approved the draft law meant to support the newly-established companies with the help of business accelerators and incubators, informed the Ministry for Business Environment, Trade and Entrepreneurship (MMACA).The draft laws says "the business accelerators" is the "programme carried out as part of the business incubator, which ensures residents a gradual access to financing sources, in order to help them launch a product or a service on the ...

The first MARC O ‘POLO store opens in Romania

Wednesday, September 18, 2019

Scandinavian retailer MARC O ‘POLO is opening the first store in Romania at Mall-Vitan in Bucharest on September 12. The store will host premium casual clothing for men and women, footwear and accessories. MARC O’POLO benchmark style is following the mindset of its founders: the freedom to be yourself. Set up in Stockholm in 1967, the brand is now comprising collections such as MARC O’POLO Modern Casual, MARC O’POLO DENIM, MARC O’POLO Shoes and ...

Cognizant Softvision accelerates expansion in Romania adding 500 new positions by the end of the year

Wednesday, September 18, 2019

Cognizant Softvision, a global leader in product engineering, is expanding its Romania operations to meet demand for its digital development and transformation solutions used by leading financial services, insurance, retail and travel, and other companies. At least 500 new positions are being added for creative technologist roles and are expected to be filled by the end of the year.  With approximately 1,700 employees now in Romania, Cognizant is already recognized as one of the ...

Commons opens its 3rd coworking space in Bucharest

Wednesday, September 18, 2019

Commons will open in October its third coworking space in Bucharest in the Victoria Business Park building owned by Immofinanz, located in Baneasa area. The new move strengthens the company’s position in the Bucharest office space market. The other two spaces operated by the Commons have already gained popularity among small and medium-sized companies in Bucharest, currently hosting over 250 members. Among the clients of the network are ...

Competition Council analyzes transaction by which Edenred Romania takes over companies of Benefit Group

Wednesday, September 11, 2019

The Competition Council announced on Tuesday that it would analyze the transaction by which Edenred Romania takes over Benefit Systems, Benefit Admin and Benefit Private Pension Broker. “According to provisions of the competition law (21/1996), this operation is an economic concentration exceeding the boundaries stipulated by law and is subject of control by Competition Council. The  latter will evaluate the economic concentration to ...

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