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Digi agrees to sell Hungarian operations for EUR 625 mln

Wednesday, December 8, 2021

Romanian Dutch-registered telecommunication group Digi Communications, through its Romanian subsidiary RCS&RDS, agreed to sell its Hungarian operations to 4iG - controlled by Konzum Management investment vehicle with influential businessman Lorinc Meszaros among shareholders.   On November 29, the parties completed negotiations and drafted the contract for the transaction for a price of EUR 625 ...

Study: The new world of work calls for an improved compensation strategy: flexible working, mental health programs, and agile leadership

Wednesday, December 8, 2021

Flexible working is the most wanted employee benefit in 2021 Hybrid work arrangements are seen as a boon to employee wellbeing Life insurance and equity shares are among the top benefits for employees in IT companies Assessing the workload of each team and automating recurring ...

France ranks 3rd among foreign investors in Romania, with over 4,150 companies

Wednesday, December 1, 2021

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France ranks 3rd among foreign investors in Romania, with over 4,150 local companies and a stock of foreign direct investment worth 8.7 billion euros, president of the French Chamber of Commerce, Industry and Agriculture in Romania (CCIFER) Francois Coste told the tenth annual conference 'Romania's Economic Perspectives', organized by CCIFER, which addressed topics such as European macroeconomic dynamics, Romania's macroeconomic balance in the European context, as well ...

4,867 companies and self-employed persons go insolvent over Jan - Oct 2021

Wednesday, December 1, 2021

As many as 4,867 companies and self-employed persons (PFAs) went insolvent in the first ten months of 2021, by 5.67 percent higher compared with the year-ago period, shows data published on the website of the National Trade Register Office (ONRC).Most insolvent companies and PFAs were reported in Bucharest City - at 894, down 13.04 percent from the 1,028 reported over January - October 2020.By business activity, the largest number of insolvencies ...

Stera Chemicals posts the highest turnover in 22 years of activity: 35 Million Euros

Wednesday, December 1, 2021

2021 meant record sales for Stera Chemicals, one of the largest Romanian importers and distributors of chemical raw materials. At the end of the first 9 months of the year, the company recorded a turnover of 35 million euros, the highest since its establishment 22 years ago, representing an increase of over 120% compared to the same period last year.   Stera Chemicals sold more than 20,000 tons of goods, ...

Report: 79% of companies in the business services industry believe that their turnover will increase in 2022

Wednesday, December 1, 2021

“Shaping the face of our future” was the theme of the annual conference organized by ABSL (Business Service Leaders Association) between 16 and 18 November 2021. The event was attended by over 500 participants. This year’s theme refers to the individual contribution of each player in the creation and development of the industry during this difficult period.   In the first part of the ...

Endava extends presence in three more Romanian cities

Wednesday, December 1, 2021

Endava (NYSE: DAVA), the British software company active on the local market with seven delivery centers located in Bra?ov, Bucharest, Cluj-Napoca, Ia?i, Timi?oara, Târgu-Mure? and Pite?ti, is expanding its business in Craiova, Sibiu and ...

Bicycle producer Corratec builds factory in western Romania

Wednesday, December 1, 2021

German bicycle manufacturer Corratec entered Romania by buying in Timisoara a plot of land of about 50,000 square meters with the aim of launching the production of bicycles on the local market, starting early next year. The plot of land includes buildings with a total area of 30,000 square ...

Three-quarters of institutional investors say they may divest rom companies with poor environmental track records

Wednesday, December 1, 2021

A burgeoning number of institutional investors around the world are placing greater emphasis on ESG performance in their decision-making and 74% are now more likely to divest from companies with poor ESG track records. However, concrete action is still lacking, and there is an urgent need for better quality disclosure from companies, according to ...

IKEA considers developing smaller-sized stores in Romania

Wednesday, December 1, 2021

Furniture retailer Ikea, which operates two stores on the Romanian market, both in Bucharest, is considering developing units in smaller formats on the local market, as they already exist at the group level.   Developing the network of collection points used for the delivery of merchandise sold in online sales is also envisaged.   "Romania ...

Vodafone fined in Romania on charges of abuse of dominant position

Wednesday, November 24, 2021

Romania's High Court (ICCJ) ruled in the case of Vodafone against the competition body Consiliul Concurentei (CC) and sustained a RON 111 mln (EUR 22 mln) fine to be paid by the telecom operator on charges of abuse of dominant ...

Survey:UiPath, the most appreciated company in Romania by its employees

Wednesday, November 24, 2021

UiPath, Zitec, Softbinator Technologies, JYSK Romania and Nobel Romania are the most appreciated companies in Romania by their employees, according to “Top Angajatori 2021”, ranking made by the Undelucram.ro platform. This is the only top in Romania made according to employees’ opinions and not according to the public image of companies.   In its sixth edition, the top was made between November 16, 2020 – November 15, 2021, ...

Nestlé Romania has invested over 250 Million Lei in the last 10 years

Wednesday, November 24, 2021

Community investments, taxes and contributions, added value along the entire value chain – these are the main coordinates of Nestlé’s presence in Romania. On the occasion of the 25th anniversary of its activity on the local market, the largest food and beverage company in the world presents the first socio-economic impact study.   “For us, a quarter of a century is measured in the value we ...

Dan Sucu, elected the new president of the Concordia Employers' Confederation

Wednesday, November 24, 2021

Dan Sucu, the president of the Employers Federation of Trade Networks in Romania, was elected president of Concordia Confederation, and replaced Steven van Groningen, president and general manager of Raiffeisen Bank.  “Concordia grew during Steven van Groningen's mandate, was reformed and started laying the bases of modernizing social dialogue. The confederation has been consolidated and has now 2,000 companies, 14 activity sectors, with a 26% GDP ...

Berg Software Timisoara joins AROBS Group

Wednesday, November 24, 2021

AROBS Transilvania Software, a Romanian IT company, announces the acquisition of Berg Software, a local custom software development and outsourcing company, with offices in Timisoara, Lugoj, and Oradea. Following the completion of the transaction, the AROBS Group will consolidate its presence in the Western part of Romania and intends to increase its presence in Germany, Austria, and Switzerland. To carry out this transaction, AROBS will use part of the capital raised from the BVB ...

One United Properties enters an agreement to buy a majority stake in Bucur Obor S.A.

Wednesday, November 24, 2021

One United Properties, one of the green developers of residential, mixed-use and office real estate in Romania, announces the conclusion of an agreement to buy a majority stake in Bucur Obor S.A., a company listed on the AeRO market of the Bucharest Stock Exchange under symbol BUCU.   “The decision to acquire the majority stake in Bucur Obor is in line with One United Properties’ strategy to increase the weight of profits from rental activity in a sustainable ...

Retailer TEDi to enter Romanian market

Wednesday, November 24, 2021

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TEDi chain of stores, one of the largest in Germany, previously branded T€Di to more clearly illustrate the concept, namely selling a large number of non-food products at a price of only EUR 1, will enter the Romanian ...

The supermarket Rohlik to launch operations in Bucharest

Wednesday, November 24, 2021

The Czech online supermarket Rohlik.cz will launch its online food delivery services under the new Sezamo brand in Romania and Italy, respectively in Bucharest and Milan, in the first half of next year.   In Romania, Sezamo will be able to deliver approximately 8,000 food items within 2 hours starting from the first day of operations, according ...

Top performinng companies in Romania employ over 1.2 million people

Wednesday, November 17, 2021

 In a ranking of the top performing companies in 2020, at the national level, there are 12,393 occupying the top ten spots - economic operators from different sectors of activity, such as: industry, services, commerce, tourism, research-development, agriculture, forestry, fishing, and constructions, announced the Chamber of Commerce and Industry of Romania (CCIR), on Monday.According to the quoted source, CCIR has finalized the ranking of the most performing companies ...

IAR Brasov records net profit of 22.88 million RON in first nine months, up by 53 pct

Wednesday, November 17, 2021

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IAR Brasov has recorded a net profit of 22.88 million RON in the first nine months of this year, increasing by 53 pct over the same period of last year, according to a report sent on Monday to the Bucharest Stock Exchange (BVB).The company had a net turnover of 235.83 million RON, in the first nine months of this year, larger by 10 pct over the figures accomplished in the same interval of 2020.The exploitation costs of the company in the first nine months rose ...

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