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Number of start-ups on foreign capital in Romania declines over 41pct in H1 2020

Wednesday, August 12, 2020


 The number of start-ups established on foreign capital in Romania dropped by 41.41% in H1 2020 from H1 2019, to 1,674 units, according to data centralised by the National Companies Registry Office (ONRC).The 1,674 new companies had a subscribed share capital of 3.841 million US dollars in all, down 55.6% from January-June 2019.As of June 30, 2020, the largest number of companies running on foreign capital - 49,168 (3.846 billion US dollars ...

Survey: Half of small local businesses report decrease in revenues in first five months of the year

Wednesday, August 12, 2020

 Half of the small local businesses reported a decrease in revenues in the first five months of this year, while 26 percent of small business owners said that their revenues increased during this period, found a survey conducted by Omnicredit, the first 100 percent online fintech platform dedicated to supporting small businesses in Romania."The financial situation of Romania's small businesses has never been extraordinarily stable. The vulnerabilities of ...

Romanian Post Company debuts auto delivery service to Germany, a company first

Wednesday, August 12, 2020

The Romanian Post Company is opening in a first a post delivery service to Germany on the route Bucharest - Timisoara - Frankfurt and back, given that the SARS-CoV-2 pandemic has proven that air transport is not always accessible, the company announced on last Wednesday.The new service will ensure postal exchanges between Germany and Romania."The situations caused by the closure of airports and the appearance of uncontrollable delays in postal ...

Damen Group to lay off 870 employees in Romania

Wednesday, August 12, 2020

Dutch shipbuilder Damen will cut 1,050 jobs worldwide, with 870 of them in Romania and the rest in the Netherlands (Gorinchem, Schiedam and Bergum), according to Dutch ...

Endava Romania reported RON 647.7 M revenue in 2019

Wednesday, August 12, 2020

Endava Romania, the British software company present on the local market, with 7 delivery centers, reported a revenue of 647.7 million RON in the financial year that ended on 31 December 2019, a 29% growth compared to the previous year. The company also reported a net profit of 62 million RON 24% up from the previous year. This growth was the result of continuously developing the existing delivery centers in Bucharest, Cluj-Napoca, Iasi, Pitesti, Targu ...

Sameday expands in Romania by leasing logistics space in Tunari

Wednesday, August 12, 2020

The delivery company Sameday continues its expansion in Romania by leasing a space with an area of approximately 1,200 square meters in Tunari, near Bucharest, a transaction intermediated by the industrial department of Cushman & Wakefield Echinox. The industrial and logistics market was the most resilient in the first half of the year, when companies rented space with an area of almost 300,000 square meters, in the context of a growing demand from ...

Transport Minister Bode: TAROM airline can be saved, its fleet capable of ensuring a financial flow

Wednesday, August 5, 2020


TAROM airline will be saved because it has a fleet capable of providing a financial flow, but it needs restructuring, the Minister of Transport, Lucian Bode, told Realitatea Plus private television broadcaster on Monday evening."TAROM will be rescued. TAROM currently has a fleet of aircraft capable of providing a financial flow so that the company can be rescued. But not without a restructuring. And I am not talking about just a staff restructuring, I'm talking ...

Foreign shareholders inject over 43 million euros in financial companies in H1 2020

Wednesday, August 5, 2020

Companies operating on the Romanian financial market received capital injections of 43.08 million euros from foreign shareholders in H1 2020, up 20% from H1 2019, when they totalled 35.7 million euros, according to data with the National Companies Registry Office (ONRC).The largest capital infusion, worth 14.26 million euros, was performed in January by the Metropolitan Life, a company that manages a privately-operated pension fund, followed by Omniasig Vienna ...

Number of employees on employment contracts on July 20 falls by 648 from January 1

Wednesday, August 5, 2020


Prime Minister Ludovic Orban said on Sunday evening that, according to data with REVISAL, the general registry of employees, on July 20, 2020 the number of employees on employment contracts fell by 648 from January 1, 2020."I give you data taken from REVISAL. On July 20, compared with January 1, 2020, the number of employees on employment contracts was lower by only 648. Official data from REVISAL," Orban told B1 TV private broadcaster.Asked why some ...

SARKK SA opens the first CALVIN KLEIN JEANS store in Timisoara

Wednesday, August 5, 2020

SARKK SA, the exclusive distributor and franchise partner of CALVIN KLEIN in Romania, announces the opening of the first CALVIN KLEIN JEANS store in Timisoara. The store is the first to be located in the west of the country, in one of the largest Romanian shopping centers – Iulius Mall Timisoara, and is a step forward in implementing the plan for brand development on the Romanian market. Present on the ground floor of the ...

Norofert enters US market

Wednesday, August 5, 2020

Romanian organic fertilizer producer Norofert, listed on the Bucharest Stock Exchange (BVB), announced that it registered with the US regulatory body in Ohio state four of its products that it can sell on the state's territory between July 1, 2020, and June 30, 2021, upon the payment of a fee. "The four organic products, fertilizers, and pesticides registered in the state of Ohio are ...

Lidija Milicevic is the New General Manager of Sanofi Pasteur Romania and Moldova

Wednesday, August 5, 2020

Sanofi Romania announces the appointment of Lidija Milicevic as the General Manager of the Vaccines Division, one of the 4 business divisions of the branch in Romania and Moldova (The 4 global business units of Sanofi are: General Medicines, Specialty Care (Sanofi Genzyme), Vaccines (Sanofi Pasteur) and Consumer HealthCare). Educated to be a medical doctor and with over 18 years of experience in the pharmaceutical industry, Dr. Lidija Milicevic joined the Sanofi ...

Sinsay opens its biggest store in Romania

Wednesday, August 5, 2020

Fashion retailer Sinsay, part of the Polish group LPP, will open its largest store in Romania. With an area of 2,000 sqm, the store will be located in the Colosseum Mall, in northern Bucharest. Sinsay sells clothing and accessories for women, children, and household items. The LPP Group owns 18 Sinsay stores in Romania and targets to reach 20 stores by the end of this year. LPP has been operating on the ...

Orange Romania, turnover smaller by 10 pct for Q2 this year

Wednesday, August 5, 2020


Orange Romania has reported a turnover that is 10 pct smaller for the second quarter of 2020, compared to the similar period of last year, and a decline of 1.8 pct in regards to subscriber numbers.The group announced on Thursday the financial results for the second quarter of 2020, available on June 30."In the April-June interval, Orange Romania had a turnover of 242 million euro. Compared to the same period of last year, the turnover is smaller by 10 ...

Number of deregistered companies drops by 27.5 pct in H1 2020

Wednesday, August 5, 2020

The number of deregistered companies decreased by 27.55 pct in the first six months of 2020, compared to the same period of the previous year, to 12,046, compared to 16,626 companies in January - June 2019, according to data centralized by the National Trade Registry Office (ONRC).Most of the deregistrations were recorded in Bucharest City, i.e. 2,202 companies (down 23.86 pct from the first six months of 2019) and in the counties of Timis (638, - 18.31pct), ...

EMS FLOOR GROUP wants to double its business in the next five years

Wednesday, August 5, 2020

EMS Floor Group, the largest resin-based flooring company, headquartered in Romania, estimates for the current year a turnover of 11.4 million euro, up by 22% as compared to 2019, an advance generated by the projects it performs on the five European markets in which it operates – Romania, Belgium, Luxembourg, France and Hungary. Set up in 2010 by brothers Claudiu and Marius Baciu, EMS Floor ...

ONRC: Insolvencies down 26.16 per cent in Q1 2020

Wednesday, August 5, 2020


The number of companies and legal entities that entered insolvency dropped by 26.16 per cent in the first six months of 2020, compared with the same period last year, down to 2,360 insolvencies, according to data published on the Website of the National Trade Register Office (ONRC).Most companies and legal entities that entered insolvency were registered in Bucharest, 423, down by 23.23 per cent against January-June 2019. Coming next in the insolvency ranking are ...

PM Orban discusses with TAROM, Blue Air representatives solutions for economic recovery

Wednesday, July 29, 2020


Prime Minister Ludovic Orban on Monday discussed at the working meetings he had at the Victoria Palace with the representatives of TAROM and Blue Air airlines, which were strongly affected by the COVID-19 pandemic, a series of measures the Executive is currently considering in helping the two companies to recover.According to a Government's post on Facebook, the PM, alongside the Minister of Transport, Lucian Bode, and the Minister of Finance, Florin Citu, have ...

All state-owned companies, to receive notification to comply with corporate governance law

Wednesday, July 29, 2020

The Ministry of Public Finance will send a notification to state-owned companies to comply with Ordinance 109/2011 on corporate governance of public enterprises, because professional management, with a clear mandate is needed, the relevant Minister, Florin Citu, told private TV broadcaster Realitatea Plus."We are having discussions with all companies. I assure all Romanians that all state companies will receive a notification from the Ministry of Public Finance to ...

Sotheby’s enters Romanian art market

Wednesday, July 29, 2020

Sotheby’s global art business has launched in Romania, under the name of Romania Sotheby’s International Realty. Therefore, Sotheby’s International Realty Affiliates LLC is entering the Romanian art market through a partnership with Artmark Historical Estate. Romania Sotheby’s International Realty will focus on the acquisition of historical and luxury properties in Romania, providing global ...

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