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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

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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

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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

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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 ...

TeraPlast Group increases its operating margin by 49 percent in the first half of 2020

Wednesday, July 29, 2020

  TeraPlast Group, the largest Romanian construction materials manufacturer, opens the half-year financial reporting at BSE and announces a 17 percent increase in turnover for the first half of 2020, compared to the same period of last year. At the same time, the EBITDA increased by 49 percent, from over RON 35 million to over RON 52 million. „We open the half-year ...

Survey: July business sentiment mostly positive

Wednesday, July 29, 2020

Most company managers in Romania expect growth in manufacturing, construction and retail in the next three months, while in the services sector, a relative stability is forecast, the National Statistical Office (INS) said on Tuesday. The managers of companies operating in the manufacturing industry expect a moderate increase in production volumes, with a positive 11% balance, during the next three months, INS said in a monthly business sentiment ...

Wilo opens EUR 6.9 mln regional centre near Bucharest

Wednesday, July 29, 2020

German water pump system producer Wilo has invested EUR 6.9 million in building a regional headquarters in Otopeni, near Bucharest, Ziarul ...

The competition council approves RCS&RDS deals to run three telcos networks

Wednesday, July 29, 2020

Digi Communications [BSE: DIGI] said on Monday that its Romanian subsidiary RCS&RDS has received the anti-trust body's approval to take over the rights to operate the networks of local peers Digital Cable Systems, AKTA Telecom and ATTP Telecommunications. RCS&RDS will operate  will operate the electronic communications networks of the three companies and will provide electronic communications services to the clients, in exchange ...

Agnieszka Blas, DHL Express new managing director for Romania

Wednesday, July 29, 2020

DHL Express Romania has a new Managing Director effective July 1 2020. Agnieszka Blas will be responsible for over 500 employees, providing services for nearly 6000 account customers, across 25 facilities in Romania. Agnieszka had previously held management board positions at DHL Express Poland, being Senior Director of Operations in the last 8 years. She has joined DHL team in 2001 and has a vast experience in operational infrastructure and customs ...

Robotics, the new trend to watch in post-pandemic Romania

Wednesday, July 29, 2020

The COVID-19 pandemic will accelerate new trends in Romanian business environment, including robotics. Whether we are talking about robotic process automation (RPA) or the automation of certain production processes, the post-COVID-19 reality in Romania will be based on new business models. As an example, the pandemic has generated a lot of demand for UiPath’s software robots to assist hospitals with processing medical tests. Health care is ...

Zitec becomes a Google Cloud Premier Partner

Wednesday, July 29, 2020

Starting with July 2020, Zitec, a Romanian market leader in IT & Digital Marketing, became a Google Cloud Premier Partner, the highest achievable status reserved for Google Cloud partners. For the past 2 years, Zitec developed a strong partnership program with Google Cloud, improving the business impact of its clients, using cloud services, facilitating access to cutting edge services and technologies, and specializing Zitec team members through intensive training ...

Vodafone Romania reports the financial results for the Q1 2020

Wednesday, July 29, 2020

* Service revenue is at EUR 189.7 million in the quarter ended June 30th 2020 lower by -1.2% compared to the same period of last year. Vodafone Romania announces the key performance indicators for the quarter ended June 30th, 2020, as reported today by Vodafone Group Plc. The service revenue is at EUR 189.7 million and continues to be stable on quarterly evolution. Compared to the same period of last year, the reported ...

UiPath plans to list its shares next year

Wednesday, July 29, 2020

UiPath, the first unicorn set up by Romanian entrepreneurs, is preparing to list its shares under an initial public offering (IPO) next year, announced the company's co-founder Daniel Dines. In February, Dines only indicated that UiPath was approaching the listing of its shares without mentioning a date. Now, Dines announces 2021 as a firm deadline. "We had plans for listing on the stock exchange even before the pandemic, but we ...

Romanian startup Neurolabs raises EUR 1 mln in Scotland

Wednesday, July 29, 2020

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The Neurolabs startup, founded by a team of Romanians and operating in Romania and Scotland, announced the successful conclusion of a EUR 1 million financing round. The round was led by Lunar Ventures and Techstart Ventures, alongside 7percent Ventures, ID4 Ventures, Charles Songhurst, and Andreas Wiese. Mick Halsband from Lunar Ventures will be joining the company's board. Neurolabs was founded by a ...

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 ...

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