RSS
Companies
Joint venture of BMW Group and NTT Data Romania in Cluj-Napoca
Wednesday, March 6, 2024
BMW Group and NTT Data Romania have signed an agreement for the establishment of a joint venture in central-western Cluj-Napoca, which will employ approximately 250 software developers until the end of 2024, according to a press release from the two companies."BMW Group continues to expand its global network of IT centers and benefits from the talent and experience in the software sector. The joint venture agreement is subject to review and approval by the relevant ...
Mogo Romania announces team development perspectives for 2024
Wednesday, March 6, 2024
Mogo Romania, the fintech specialising in used car financing and a member of the international Eleving Group, announces its development plans for 2024. This year, the Romanian subsidiary reached a 13.1% share of the multinational company's portfolio, with 7.9% profit growth in the first half of 2023 compared to the previous year. Given the steady development in the ...
Coface Romania study : 6,650 new insolvency procedures were opened in 2023
Wednesday, February 28, 2024
The latest Coface Romania study shows that 6,650 new insolvency procedures were opened in 2023 compared to 6,649 in 2022. The refused payment instruments increased both in value (+37%) and in number (+17%) compared to 2022, but below the levels recorded in 2019. The construction sector reports the highest number of insolvencies, respectively 1,446. The economic context – 2023, a year of ...
Over 39k dissolved companies recorded in 2023 countrywide
Wednesday, February 28, 2024
The number of companies that were struck off decreased by 0.73%, in 2023, to 39,031, compared to 39,320 in the previous year, according to data centralized by the National Trade Register Office (ONRC).The most dissolutions were registered in Bucharest, respectively 8,191 companies (number increasing by 10.96% compared to 2022).The business that recorded the most dissolutions of companies, last year, is wholesale and retail trade, seconded by the repair of ...
Orsova Shipyard ends 2023 making profit
Wednesday, February 28, 2024
The Orsova Shipyard ended 2023 with a net profit of 3.454 million lei, compared to losses of 4.215 million lei in the previous year, and a turnover of 99.495 million lei, up 72.26%, according to the preliminary financial results as of 31.12.2023, sent to the Bucharest Stock Exchange (BVB) on Monday."The year 2023, marked by the challenges of inflation manifested in the general economic environment, but also by geopolitical developments determined by the war ...
Raiffeisen Bank International Will Be TeraPlast’s Second Issuer Market Maker
Wednesday, February 28, 2024
TeraPlast SA (TRP symbol) announces the signing of an issuer market making agreement with Raiffeisen Bank International AG (RBI). The services will be active starting 1st of March, 2024, with the main objective of increasing the liquidity of TRP securities, which will also attract enhanced visibility of the company both domestically and internationally. The collaboration with RBI also includes a coverage component of the issuer (Sponsored Research), ...
Telekom Romania Mobile in Q4 2023: total revenues of EUR 77.5 million and an increase in Post paid subscriber base of 3.3% year-on-year
Wednesday, February 28, 2024
At the end of 2023, the number of Post paid subscribers grew by 3,3% as compared to the previous year. The revenues for the year 2023 reached EUR 286.9 million, while in Q4 2023 revenues increased by 6.2%, compared to Q4 2022. Annual EBITDA Adj. AL at €17.0 million (Q4 €4.1million). Telekom Romania Mobile recorded 1.92 million postpaid subscribers ...
BASF’s financial strength supports proposed stable dividend of €3.40 per share for the 2023 business year
Wednesday, February 28, 2024
EBITDA before special items: €7.7 billion (minus 28.7 percent) Cash flows from operating activities of €8.1 billion (plus 5.2 percent); free cash flow of €2.7 billion (minus 18.5 percent) Outlook 2024: EBITDA before special items of between €8.0 billion and €8.6 billion expected Free cash flow of between €0.1 ...
KÉSZ Enters The Romanian Residential Market
Wednesday, February 28, 2024
KESZ Group has selected Fortim Trusted Advisors, company specialized in consulting and real estate management, as the exclusive agent for Corallis, the first own residential project developed in Romania. “Kesz Romania is well-known as one of the most competitive builders on the market, being involved in several successful premium projects, including retail, ...
Microsoft Eyes To Hire 400 People In Romania
Wednesday, February 28, 2024
Microsoft aims to hire more than 400 people this year, announced Bogdan Putinica, the general director of Microsoft Romania. The manager said that the main reason for hiring is Romania’s economic potential. “In France, if you want to hire 400 people, it’s much more difficult. You need 5 years to reach this figure,” said the ...
Cugir Mechanical Plant To Hire For 50% Increase In Ammunition Production
Wednesday, February 21, 2024
The Mechanical Plant in Cugir intends to hire “urgently” 88 people, in order to be able to honor a series of new contracts for the supply of ammunition. The factory must increase monthly production by 50%, from 500,000 pieces to 750,000 pieces of ammunition, according to a memorandum on the agenda of the Government ...
Dealmaking in CEE held up strongly in 2023 – a testament to the region’s maturity as an attractive M&A destination
Wednesday, February 21, 2024
Against a backdrop of falling global M&A activity, dealmaking in Central and Eastern Europe (CEE) held up relatively well. The number of transactions in the region in 2023 equals 1,097. The total value of M&A activity reaches €37.3bn, according to the reported data and taking into account the criteria set out in the methodology. Romania is increasingly catching ...
ARTROM STEEL TUBES invests more than six million euros in 2024 to accelerate decarbonisation
Wednesday, February 21, 2024
Artom Steel Tubes, one of Europe's leading pipe manufacturers with operations in Resi?a and Slatina in Romania, announces investments of more than six million euros in 2024 to optimise measures to reduce carbon emissions and fuel consumption. To this end, it has partnered with a number of established suppliers to the European metalworking industry, which will ensure the re-engineering of certain production processes. “Over ...
Pepsi Max changes its name to Pepsi Zero: new design, same taste!
Wednesday, February 21, 2024
PepsiCo, one of the leaders in the food and beverage industry, announces a name change for one of the most popular soft drinks in its portfolio: Pepsi Max now becomes Pepsi Zero Sugar. It's a perfect drink for those who want to enjoy a refreshing experience without consuming sugar. "We listened to our consumers and understood that they want more direct and transparent communication about the products they consume. With this change, we're focusing on ...
PepsiCo Romania appoints a new director to lead the Organized Trade division
Wednesday, February 21, 2024
PepsiCo Romania, one of the leaders in the food and beverage industry, announces the appointment of Alexandra Ristariu as Organized Trade Director. Alexandra will report to Radu Berevoescu, General Manager and Senior Commercial Director East Balkans. With an impressive career extend over 15 years in the fast-moving consumer goods (FMCG) industry, Alexandra Ristariu has held various roles and managed ...
Competition Council analysing SD Worx People Solutions NV taking over Romanian Software
Wednesday, February 21, 2024
The Competition Council is analysing the operation by which SD Worx People Solutions NV intends to take over Romanian Software.According to a press release the competition authority sent on Friday, SD Worx People Solutions NV is a provider of intelligent software solutions for the human resources component, in particular for the management and payroll of personnel in companies worldwide.Romanian Software is a technology company providing software services for ...
US Software Company TaxDome Enters The Romanian Market
Wednesday, February 21, 2024
TaxDome, an American provider of practice management solutions for tax and accounting professionals, enters the Romanian market, as the local business landscape indicates accelerated growth and considerable progress in digitalization. With a strong presence in the United States and a powerful international footprint, TaxDome brings its innovative platform to serve the needs of tax and accounting firms in Romania. With a portfolio of 10,000 clients, ...
Four New Companies Listed On The Bucharest Stock Exchange
Wednesday, February 21, 2024
Romania’s equity market presence in the MSCI indices will increase to 26 companies from 1st of March 2024, following the quarterly index review conducted by global index provider MSCI in February this year. According to the announcement, Romania will have four new companies listed in the MSCI Frontier IMI and MSCI Romania IMI indices in the small cap category. They are: 2B ...
Flanco Acquires Land For Store Construction
Wednesday, February 21, 2024
Flanco announced the acquisition of its first two real estate projects for new greenfield stores. They are located in commercial areas of Botosani and Brasov and were purchased in the last six months, each with an area of 5,000 square meters. “Starting this year, we are also interested in real estate acquisitions, in order to build Flanco stores from scratch, adapted to our needs ...
Net profit of RON 232.26 million for Transilvania Investments in 2023
Wednesday, February 21, 2024
Transilvania Investments recorded at 31.12.2023 a net profit worth RON 232.26 million, according to the preliminary financial results, unaudited. The profit is 264.5% higher compared to the previous year, this being the best result achieved in the last 5 years. The net income, totalling RON 279.16 million at the end of 2023, is 205.6% higher compared to the income afferent to the previous year. On 31 December 2023, the Company’s total assets are worth RON ...