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Revo Technologies announces its entrance on the Romanian market

Wednesday, July 29, 2020

Revo Technologies, a CEE-based fintech company, operating under the Mokka brand, specialized in “Buy Now Pay Later” services announces its entrance on the Romanian market. Mokka allows customers to buy instantly and pay for the products or services on their own, favourable terms. In 2019 alone, Revo financed over 750,000 purchases in more than 7,000 online and offline stores across Eastern Europe. “Buy Now Pay Later” ...

Alum Tulcea, beneficiary of a non-reimbursable financing of 8.8 million euros from the European Commission

Wednesday, July 29, 2020

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ALUM S.A., the only calcined alumina producer in Romania, is one of the stakeholders of the ReActiv project, an initiative aiming to reduce waste and CO2 emissions by transforming bauxite residue, the main by-product of the alumina sector, into an active material suitable for developing new cement products, with low CO2 footprint. Coordinated by LafargeHolcim through its Research and Development Center („Lafarge Centre de Recherche SAS”), the project is ...

Continental Romania invests 27 million euro in modernizing research and development center in Iasi

Wednesday, July 22, 2020

Continental Romania has finalized works to expand the research and development center in northeastern Iasi, in which it invested 27 million euro, the company informs in a release sent on Monday.The new construction has 8 levels, a capacity of up to 1,700 places and comprises a complete testing and validation area of products developed within the company, as well as relaxation spaces, conference halls and dining halls, Continental Romania says.The manager of the ...

DESI Study: SMEs investments in technology în 2019, the lowest in the EU

Wednesday, July 22, 2020

The European Commission published at the end of June the 2020 edition of the Digital Economy and Society Index (DESI), an annual study that assesses Europe’s digital performance and tracks the evolution of EU member states in digital competitiveness. Romania was ranked 26th out of 28 Member States, based on five key criteria – connectivity, human capital, use of internet services, integration of digital technology and digital public services. Despite its strong IT sector and ...

Telekom Romania launches the #FanAfaceriMici campaign to help local businesses

Wednesday, July 22, 2020

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Telekom Romania launches #FanAfaceriMici campaign, through which it promotes local businesses with the help of Romanians. While social network users are invited to promote small businesses using #FanAfaceriMici, Telekom Romania will promote on its socializing pages 20 businesses proposed by users.  This period marked by uncertainty was very difficult for all businesses, regardless of their size, and local companies were forced to discontinue their business or find new ways to ...

Amber achieves the best turnover in its history at USD 13.6 million în 2019

Wednesday, July 22, 2020

Amber, the largest independent game development company in Romania, reported the highest turnover in its history for 2019: RON 57.85 million (USD 13.65 million), representing an 80 percent growth YoY. The company’s profit margin in 2019 was 12 percent. The main driver for this growth was the focus on full game development services, revenues in this segment increasing by 300% in 2019 compared to the previous year. This growth is expected to continue strongly this year as ...

ARCA and Govt. to set up labor exchange

Wednesday, July 22, 2020

The Romanian association of highway construction companies (ARCA), the Labor Ministry and the Labour Bureau (ANOFM) have decided to set up a platform for construction jobs. "The return of Romanians to the country in the context of the COVID-19 pandemic and the lack of labor on the construction sites, the labor deficit being estimated at 500,000 people, were just two of the arguments for the decision to create the labor exchange," reads ARCA's press release, quoted ...

Moroccan phosphate fertilizer producer enters on the Romanian market

Wednesday, July 22, 2020

Abu Dhabi-based Al Dahra Agriculture, which operates the biggest farm in Romania and OCP group (formerly Office Chérifien des Phosphates) of Morocco, will set up a joint venture to distribute chemical fertilizers on the Romanian market. The investors already got the green light from the competition body for setting up this joint venture. OCP is a world leader on the phosphate concentrates market thanks to its access to more than 70% of the world's phosphate rock ...

Smithfield Romania shuts down due to COVID-19 outbreak

Wednesday, July 22, 2020

At least 100 employees of the Freidorf slaughterhouse operated by Smithfield Romania have been infected with COVID-19 and the processing capacity suspended operations. The company suspended the activity of all its three processing plants in Timis county, western ...

Ringhel raises EUR 0.5 mln on crowdfunding platform

Wednesday, July 22, 2020

Ringhel, a Romanian software company specializing in the electricity and gas industry, hit its EUR 400,000 target funding on the first day of a planned 30-day financing session on the local crowdfunding platform SeedBlink. Moreover, the company increased the offer to EUR 500,000 amid high interest from investors. The company's main project is PROCESIO, a platform that allows people with no coding experience to use ready-made software blocks and develop ...

TradeX and Transilvania IT Cluster represent Romania at most important contest for SMEs organized by EC

Wednesday, July 22, 2020

Romania will be represented, this year, in Berlin, in the most important competition for SMEs organized by the European Commission, by TradeX - Transfer Afaceri (Brasov) and Transilvania IT Cluster together with the Cluj Napoca City Hall."The Ministry of Economy, Energy and the Business Environment has selected the participants on behalf of Romania for this year. Our country is competing for two competition categories: improving the business environment and promoting entrepreneur ...

50 largest technology companies in Romania have quadrupled their businesses and teams in 10 years

Wednesday, July 22, 2020

The turnover and teams of the top 50 largest technology companies in Romania have increased four times in the last ten years (2009-2019), according to a Cushman & Wakefield Echinox analysis. They reached a combined turnover of EUR 3 billion and over 50,000 employees in 2019.  Most of these companies, such as Amazon, IBM, HP, Microsoft, or Oracle, are also in the top of the largest technology companies globally, which reconfirms Romania’s position in the top of the most ...

Calin Ile, appointed GM of new ibis hotel in Timisoara

Wednesday, July 22, 2020

Accor, the world’s leading augmented hospitality group, has announced the appointment of Calin Ile as general manager of ibis Timisoara, which is set to open this autumn.  With 20 years of experience within Accor, Ile will be in charge of building the new hotel’s team.  Calin Ile, whose career within the hospitality business has been strongly related to Accor Group and ibis network, will now oversee team-building, ...

Covid-19 changes employee benefits in Romania

Wednesday, July 22, 2020

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According to “Companies reactions to COVID-19, 2nd Edition,” a new study by Mercer Marsh Benefits, over 41% out of 154 Romanian companies surveyed have not resumed their office activity. The survey was conducted in the late May – early June period.Due to the lockdown, the most affected benefits offered by Romanian companies were team building/hangouts: 34% of the companies surveyed have decreased their budgets for this, while 43% have eliminated them completely. ...

Ford finances five new programmes for social entrepreneurship for the community in Craiova

Wednesday, July 15, 2020

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Five new programmes for social entrepreneurship for the community in Craiova will be developed by Ford Motor Company Fund in the Centre for Resources and Employment Ford in Craiova (CRAF) inaugurated in October 2018, announced on Friday the auto constructor in a press release. According to the company representatives, the five winning projectes, which will receive grants with a value between 15,000 and 30,000 dollars to be developed are: Ebis Clus ...

EconMin Popescu: Grant projects for SMEs

Wednesday, July 15, 2020

The three state aid schemes from the overall envelope of one billion euros from the EU will be distributed to micro-enterprises without employees, medical offices, PFAs (Authorized Individuals) of physicians caught in the fight against the pandemic, NGOs with economic activity affected by the pandemic, but also in the form of working capital and finally for investments, the Minister of Economy, Virgil Popescu, said in an interview for Agerpres."Basically, the ...

Over 10.22bn lei extended through SME INVEST in almost two months

Wednesday, July 15, 2020

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The program to support small and medium-sized enterprises SME INVEST Romania has entered the fourth phase of implementation, that of granting state aid, which will ensure zero financing costs for the program applicants, announced on Monday the National Credit Guarantee Fund for SMEs (FNGCIMM).The number of loans approved by the 21 financiers participating in the program is 11,589, and the volume of guaranteed financing is over 10.22 billion lei.This ...

Communications watchdog issues 995,900 lei worth of fines as of mid-year, Orange Romania fined 500,000 lei

Wednesday, July 15, 2020

In the first half of this year, the National Communications Administration and Regulation Authority (ANCOM) fined telecom, postal service and radio equipment providers an aggregate 995,900 lei, of which more than half was the fine handed down to Orange Romania for the security incident on January 14, 2020, which affected 1.92 million connections nationwide, the authority said in a release.As of mid-year, the telecom market watchdog conducted 1,735 controls, issued ...

UiPath hits USD 10.2 bln valuation after new financing round

Wednesday, July 15, 2020

UiPath, the leading enterprise Robotic Process Automation (RPA) software company, founded by Romanian entrepreneurs Daniel Dines and Marius Tirca, announced that it closed a USD 225 million Series E investment round, reaching a valuation of USD 10.2 billion. Alkeon Capital Management led the financing round. Others participating include Accel, Coatue, Dragoneer, IVP, Madrona Venture Group, Sequoia Capital, Tencent, Tiger Global, Wellington, and funds ...

Deloitte Romania appointed two new directors and one partner within Reff & Associates

Wednesday, July 15, 2020

Deloitte Romania strengthens its management team by promoting Ioana Boca to Financial Advisory Director, Sorin Elisei to Director within the specialized practice in the energy and natural resources industry, and Mihnea Galgotiu-Sararu to Partner within Reff & Associates, the law firm member of Deloitte Legal global network. “It am proud to witness the ...

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