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Trade Register: Over 32,000 companies deregistered in first 8 months

Wednesday, October 7, 2020

The number of companies deregistered nationwide decreased by 59.03% in the first eight months of 2020 compared to the same period of last year, to 32,255 deregistrations, according to statistics from the National Trade Register Office (ONRC).Most deregistrations were recorded in Bucharest - 5,076 (44.05% less than in January-August 2019) and in the counties of Cluj - 1,491 (minus 49.63%), Constanta - 1,428 (minus 35.47%) and Timis - 1,330 (minus 46.63%).At the ...

Up to EUR 37.5 M non-reimbursable funds can be accessed till 2023

Wednesday, September 30, 2020

The Ministry of Public Finance has announced a three-year extension of the GD 807/2014 financing measure,  between 500,000 EUR to 37.5 million EUR of EU funds for Start-ups, SMEs and big companies, the deadline being set to  December 31st, 2023.   According to the 4th revision from ...

Sorin Preda is the new BAT commercial manager

Wednesday, September 30, 2020

British American Tobacco (BAT) has appointed Sorin Preda as commercial manager for Romania and Republic of Moldova. In his new capacity, Sorin Preda will lead a team of 600 people, by coordinating the sales and promotion activities in Romania and in R. Moldova.   Sorin Preda has been working within BAT for over 20 years and he had recently returned home after he was Country Manager in Bulgaria. In 2016 he ...

Meshine Tech, EGV’s first investment in agro startups

Wednesday, September 30, 2020

EGV has announced the completion of an investment round in Meshine Tech (meshine.io), a company that is working on a platform for analyzing data collected from sensors installed on agricultural machinery.   The company is in the prototype’s construction stage, aiming to complete the product (MVP) by the end of the second quarter of next ...

European M&A Outlook 2020: European deal volume fell 31%

Wednesday, September 30, 2020

The COVID-19 pandemic has taken a heavy toll on European dealmaking activity. However, opportunities remain for those willing to take risks, according to the eighth edition of the European M&A Outlook, published by CMS in association with Mergermarket.   The report is a comprehensive assessment of dealmaking sentiment in the European M&A market.  It canvasses the opinions of 230 senior ...

How six months of the COVID-19 pandemic changed Romania’s business environment

Wednesday, September 30, 2020

Six months have passed since Romania imposed a state of emergency on March 16, 2020, a moment that represented a trigger for a series of profound changes in the business environment. Many new trends have emerged and are influencing the way we work, communicate, and grow.  Work from Home – or rather Work from Anywhere (WFA)  It is already clear that the COVID-19 ...

Yovav Carmi , the new President of the Management Board of GTC

Wednesday, September 30, 2020

GTC Supervisory Board has appointed Mr. Yovav Carmi to the position of the President of the Management Board of GTC. Mr. Carmi has over 26 years of professional experience in finance and real estate and has worked for GTC for the last 19 years. The period with the company has given him an in-depth knowledge of GTC’s operations and activities in the region. On joining GTC in 2001, Mr. Carmi was initially responsible for the financial ...

EA Romania marks its 15th anniversary

Wednesday, September 30, 2020

Electronic Arts Romania, one of the largest tech companies and video game developers in Romania, celebrates 15 years of activity on the local market. Since 2005, EA Romania has permanently strengthened its presence in the Romanian Information Technology and Communications industry, has become one of the two studios worldwide where the EA SPORTS FIFA video game franchise is developed, together with EA Vancouver, as well as one of the largest EA quality verification centers and ...

Telekom Romania launches two new hosting data centers following EUR 3.5 M investment

Wednesday, September 23, 2020

Telekom Romania has inaugurated two data centers, a 3.5 million euros investment, after the four in Bucharest and two in Bra?ov, thus becoming the Romanian operator with the largest network of centers for providing data hosting services (HDC). The two data centers in Cluj-Napoca have a total hosting capacity of over 300 racks. Following the inauguration of the centers in Cluj-Napoca, the total ...

Survey: Romanian companies are not prepared for the post-lockdown economic environment

Wednesday, September 23, 2020

Romanian companies need to reposition themselves to find answers to the business challenges posed by the pandemic, according to a Fast Track diagnosis by Valoria. However, at this time, most are not prepared to perform in the post-lockdown economic environment. The most deficient area is the sales and business development area with a score of 6.70.   ”The study launched today by Valoria is based ...

eMAG opens its first showroom in Bulgaria

Wednesday, September 23, 2020

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eMAG continues its international expansion by diversifying its sales channels and opens the first showroom in Bulgaria, Sofia, after the company opened its first showroom outside Romania in Hungary three months ago. The company plans to open three more showrooms in the first part of next year. Located in Serdika Center, one of the largest shopping centers in the Bulgarian capital, the new showroom allows eMAG.bg to expand the services offered to ...

Millennia Aviation to develop the first drone test corridor in Romania

Wednesday, September 23, 2020

Millennia Aviation, a Dublin based drone education and infrastructure company is to begin developing the first drone test corridor in the south west of Romania, a press release reports. It’s scheduled to launch in Q1 2021, employing a phased approach methodology. The initial phase will involve a netted facility, enabling beginners to develop their flying skills in a safe and secured environment. The second phase will involve a larger corridor, scheduled for launch ...

Realpad Software has recently entered the Romanian market

Wednesday, September 23, 2020

The Czech proptech Realpad Software, founded by Marian Skvarek in 2012, has recently entered the Romanian market. The company develops technology solutions for the real estate market and its flagship product, Realpad CRM, helps residential developers to manage the sales process in new residential developments.  The Romanian branch of Realpad Software will be run by Jakub Licak (32 years old), from the position of Business Development ...

5 startups were rewarded with the 100.000-euro prize at the grand finale of Innovators for Children 2020

Wednesday, September 23, 2020

The grand finale of Innovators for Children took place on the 15th of September and was organized by Impact Hub Bucharest in partnership with Botnar Fondation and Impact Hub Basel. Ten teams made it to the finale where they pitched for their ideas and solutions. KIDoc, Emoface, AutismON (Help Autism Association), Peditel and Brio were the winners of the day. This online event completed the selection process and the winning start-ups will now move ...

Vodafone changes tv experiences and video consumption with new service Vodafone TV

Wednesday, September 23, 2020

Vodafone launches Vodafone TV, the brand that will replace UPC and also an innovative service that brings users a completely new television and entertainment experience. The company also launches new fixed-mobile convergent offers under Vodafone One umbrella.  From the start of the pandemic, all the communication operators were busy keeping the services offered to the highest levels. Vodafone made no exception and managed to cover the 40 to ...

Donalam invests over 11 million euro in modernising the rolling mill in Calarasi

Wednesday, September 23, 2020

AFV Beltrame Group, the main shareholder of the company Donalam,one of the biggest producers of steel rods and special steel announced on Wednesday that they will invest over 11 million euro in modernising the rolling mill in the siderurgical unit in Calarasi ‘AFV Beltrame Group, the main shareholder of the company Donalam, one of the biggest European producers of steel rods and special steels invests over 11 million euro in modernising the ...

Internal market ready for new delivery startups

Wednesday, September 16, 2020

As the market for delivery services hit the EUR 1 billion mark in 2019, the industry is going through a series of challenges triggered by the ongoing coronavirus epidemic. Delivery platforms, some operated by startups, have relieved some of the pressure on firms that were worst hit by the lockdown orders, especially in the food business. Players are gradually adapting to the new market demands generated by the medical ...

Cornelia Nicolae joins FASHION HOUSE Group in Romania

Wednesday, September 16, 2020

FASHION HOUSE Group, has appointed retail veteran Cornelia Nicolae to the position of Retail Operations Director in Bucharest. Cornelia Nicolae will be responsible for launching the Group’s new flagship development, its second in Bucharest, while continuing to drive footfall and sales at its established outlet centre in the capital. With 24 years of fashion retail experience, Cornelia joins FASHION HOUSE Group from Italian fashion brand ...

Cacharel opens a store in Fashion House Outlet Centre Bucharest

Wednesday, September 16, 2020

International fashion retailer Cacharel has recently opened a new 26 sq. m. store in Fashion House Outlet Centre Bucharest. This is currently the only Cacharel brand store in Romania retailing exclusively menswear collections. Created in 1962, in Nimes, by Jean Bousquet, Cacharel is now an internationally renowned brand, associated with the idea of youth, lightness and refinement. Cacharel was one of the first fashion ...

The Competition Council analyses the taking over of Glass Container by Vetropack Austria Holding AG

Wednesday, September 16, 2020

The Competition Council announced that they analyse the trading through which the glass packaging producer Vetropack Austria Holding AG intends to take over Glass Container Company and Glass Container Prim from the Republic of Moldova and its branches. Following this trading, Group Vetropack will acquire indirectly the two Romanian branches Glass Container Company –SP and Glass Container Prim = SP as well as the ...

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