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ONRC: Number of insolvencies up by 28.07 pct, and suspensions by 66.52 pct, in first two months

Wednesday, March 28, 2018

The number of commercial companies and authorized persons in insolvency increased in the first two months by 28.07 percent, as compared to the similar interval in 2017, to 1,492, according to data posted on the website of the National Trade Register Office (ONRC). Most companies and authorized persons in insolvency are in Buzau County, with 280 (+35.27 pct, Y-o-Y), Bihor, with 104 cases (plus 31.65 pct) and Covasna, with 87 (+77.55).By fields of ...

Economy Ministry: Romanian state to become majority shareholder in DMHI Mangalia Shipyard

Wednesday, March 28, 2018

The negotiations between the Romanian state and the strategic investor interested in the DMHI Mangalia Shipyard were finalized on Wednesday, and the state will become a major shareholder in this industrial objective, according to a press release issued on Thursday by the Ministry of Economy."It is for the first time in the last 28 years when the Romanian state takes control over a privatized strategic industrial objective. From the capacity of majority shareholder ...

ArcelorMittal Galati, close to be sold, in exchange for taking over Italy’s Ilva, media

Wednesday, March 28, 2018

ArcelorMittal has offered to sell plants across Europe, including its unit in Galati, Romania, considering that the world’s largest steelmaker is also looking to acquire the Ilva steel plant in Italy, foreign media read, quoting a person familiar with the matter told Reuters, romaniajournal.ro informs. This comes in order to address the European regulator’s antitrust concerns over its EUR 1.8 billion bid for loss-making Europe’s ...

OSF Global continues its Romanian and global expansion and opens two new offices in Pitesti and Craiova

Wednesday, March 28, 2018

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 Software development, cloud and eCommerce solutions provider OSF Global has inaugurated their seventh Romanian office, located within the Carol Office Center, 11 Carol I Blvd., Craiova, the company informs în a press relese sent to ACTMedia. This event is followed by the opening of a new office in Pitesti, within the Coral Center on 30 Calea Craiovei, nr. 30. The opening of these two new business locations marks the continuous expansion of ...

Iovu (CEC Bank): One in three SMEs in Romania is unprofitable, 45 pct of these companies have negative own capitals

Wednesday, March 21, 2018

One in three SMEs in Romania is unprofitable, taking into account that out of the 700,000 companies registered in the Trade Registry, 99.82 percent are SMEs, says Mirela Iovu, vice-president of CEC Bank quoted by business-review.eu. “Also, 45 percent of these companies have negative own capitals and 82 percent have a maximum debt level. All these represent structural issues that not only the banking system has to be solved, but it’s necessary a co-working at national ...

Top 10 exporters in Romania increase their exports by 17% in 2017

Wednesday, March 21, 2018

Romania’s ten biggest exporters reached total exports of EUR 11.7 billion in 2017, up by EUR 1.7 billion (17%) compared to 2016, according to provisional data from the National Statistics Institute (INS), cited by ...

Survey: 92 pct of business leaders do not endorse Romania’s consumption-based economic growth

Wednesday, March 21, 2018

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92 percent of business owners who took part in the survey ‘The barometer of the Romanian business environment’ conducted by EY in partnership with DoingBusiness.ro said they do not endorse Romania’s consumption-based economic growth, business-review.eu reads. 92 percent of the business owners polled said they do not support the growth model of the Romanian economy, which is based on consumption. A share of 45 percent of respondents say they are either pessimistic or ...

Coca-Cola HBC Romania appoints new GM

Wednesday, March 21, 2018

Coca-Cola HBC appointed Jovan Radosavljevic as new general manager of Coca-Cola HBC Romania, the company announced, romania-insider.com informs. He will take over the new position on May 1, 2018, replacing Jaak Mikkel, who will take over as general manager of Coca-Cola HBC Poland. Jovan Radosavljevic began his career at Coca-Cola HBC more than 16 years ago in the Serbian sales team. Since 1998, he has ...

Sennheiser to open factory in Brasov, Romania

Wednesday, March 21, 2018

German audio company Sennheiser will to open in Brasov its fourth factory, after Germany, Ireland and the US, business-review.eu reports. The new production base will provide Sennheiser with flexibility to cover market demand.  The company specialises in design and production of high fidelity products, including microphones, headphones, telephony accessories and avionics headsets for personal, professional and business ...

Four in ten Romanian millennials want to work in corporations

Wednesday, March 21, 2018

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More than four in ten (43.5%) young Romanian university graduates want to work in a big corporation and only 17.3% want to become entrepreneurs, according to Deloitte ‘First Steps into the Labour Market’ 2018 report quoted by romania-insider.com. The study describes the views on work, life and education of more than 5,700 students and recent graduates from leading universities in 14 countries across the region. Only 15.6% of Romanian ...

State companies will be required to participate in public auctions

Wednesday, March 21, 2018

The government approved a memorandum which includes a series of measures regarding companies with a full or majority state ownership, business-review.eu reports. In short, these companies will be required to participate in public auctions organised by publicly financed institutions and authorities. According to Finance minister Eugen Teodorovici, the memorandum will lead to “increased competitiveness of state-owned companies, through public acquisition ...

MedLife enters ambulatory medical services market in Arges, acquiring Solomed clinic network

Wednesday, March 21, 2018

MedLife continues to accelerate its expansion and development plan and announce a new acquisition, marking the entrance to the ambulatory segment in a new area of Romania, romaniajournal.ro informs. Romania’s largest private medical operator bought the 80 percent majority stake in Solomed, a group of medical services clinics present on the Arges County, a press release informs. The Solomed Group was set up in 1997 and is one of the leading local medical operators in the ...

 Allied Telesis invests EUR 100,000 in IoT Excellence Center in Bucharest

Wednesday, March 21, 2018

Japan-based Allied Telesis, a leading provider of networking hardware and software products, has signed an investment of EUR 100,000 in the IoT Excellence Center in Bucharest, and will provide support for Smart Communities projects in Europe and the Middle East, zf.ro informs quoted by romaniajournal.ro. Allied Telesis has chosen Europe and especially Romania to test its dedicated Smart City platform amid the consistent and continuous development of this market ...

Raiffeisen Bank - net profit of 491 mln lei in 2017

Wednesday, March 21, 2018

Raiffeisen Bank's net profit increased by 9%, from 452 million lei in 2016 to 491 million lei in 2017, and the ROE was 15.8%, based on a sustainable model of organic growth, the bank has announced.The bank's assets increased by 8% in 2017 to 36.1 billion lei. The main driver of this positive trend was represented by the loans extended to customers, which rose by 8%, from 19.8 billion lei (end of 2016) to 21.4 billion lei in 2017."Our responsible and balanced growth ...

DENT ESTET’s turnover up by 30 pct in 2017, plans to open two clinics in 2018

Wednesday, March 21, 2018

The dentistry operator, DENT ESTET, a company member of MedLife group, posts a turnover increase by 30 percent in 2017 to EUR 8.5 million and plans to open two clinics in 2018, business-review.eu informs. The number of patients treated in the DENT ESTET clinics reached over 8,500 last year, out of which 4,000 were children and teenagers. Since opening until now there were 75,000 people visited the clinics and currently 530 patients access daily the DENT ...

Study reveals: 67 percent of Romanian women dream of owning a business

Wednesday, March 14, 2018

The experiences of women owning a business are at the centre of the second part of the “Own Business Study”, an international study commissioned by METRO in ten countries, business-review.eu reads. Romania is one of the participating countries, showing surprising insights.  Overall, the study found that, while nearly one in two women (45 percent) dream of starting their own business, only 12 percent believe that they will fulfill this ambition. The ...

AFI Romania reported 10 pc increase in NOI to over EUR 51 M last year

Wednesday, March 14, 2018

According to AFI Europe financial results for 2017, the Net Operating Income (NOI) from its income producing assets in Romania reached to over EUR 51 million in 2017, up by 10.1 percent year-on-year, as a press release informs, romaniajournal.ro reads.  AFI Cotroceni shopping mall in Romania reported a NOI of over EUR 34 million representing a 2 percent increase compared to 2016 though taking into consideration the extensive expansion construction ...

Romanian ice cream maker goes bankrupt

Wednesday, March 14, 2018

Kobo Ice Cream, one of the biggest ice cream producers in Romania, announced its bankruptcy two years after going into insolvency, romania-insider.com informs. The Neamt Court ruled that the company will be liquidated, which means its assets will be sold to pay off some of the debts. The company’s creditors include Orkla Foods Romania, Kaufland Romania, Unilever Bulgaria, Mol Romania and Eco-Rom ...

Bosch is hiring for its factory in Cluj and runs an internship program for students

Wednesday, March 14, 2018

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On Automotive Technology Day marked on March 24, German group Bosch organizes the ’ Discover Bosch Cluj’ campaign to persons seeking for a job within company’s plant in Jucu, a press release informs quoted by romaniajournal.ro. Those interested may attend one of the two events that will take place this month, at the Bosch factory campus., Since 2013, the German investor manufactures at Jucu electronic control units for global ...

Turkish textile retailer to expand to Romania

Wednesday, March 14, 2018

Kig?l?, the largest retail chain of men’s clothing in Turkey, is planning to enter Romanian market soon. The expansion strategy targets to open 100 stores around the world over the next 5 ...

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