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Giulio Bertola, the new Confindustria Romania president

Wednesday, February 5, 2020

Giulio Bertola, an Italian investor present in Romania for over 20 years, has taken over the management of Confindustria Romania for 2020-2022. His name is related to the internationalization of numerous Italian multinational companies in Romania in such sectors as energy, transports and industry. Italy has been for over 10 years the main state that is investing in Romania on the number of registered companies. At the end of 2019, Italy was also the ...

ARIR has published the first VEKTOR results – measure of the communication of listed companies with investors

Wednesday, February 5, 2020

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The Romanian Investor Relations Association (ARIR), with the support of the Bucharest Stock Exchange (BVB), ...

Insolvencies, down 21.44pct in 2019

Wednesday, February 5, 2020

The number of companies and self-employed persons that entered insolvency went down 21.44 percent in 2019, as against the previous year, to 6,524 insolvencies, as shown by the data released on the website of the National Trade Register Office (ONRC) on Thursday.Most companies and self-employed persons that entered insolvency were recorded in Bucharest, namely 1,239, down 24.31 percent compared with 2018. Next in the insolvency ranking are the counties of Bihor - ...

COFACE STUDY: RETAIL SALE IN NON-SPECIALIZED STORES SECTOR – POSITIVE EVOLUTION OF REVENUES IN 2018

Wednesday, February 5, 2020

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In Bucharest-Ilfov region, retirees spent the most on food and drinks in 2018. Strenghts: The level of indebtedness in the sector of 61% is decreasing compared to the previous years The coverage degree of short-term debt through net cash increased from 9% in 2014, to 22% in 2018 The average duration of ...

KPMG survey : Romania’s M&A market shows strong growth

Wednesday, February 5, 2020

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Stakeholders expect a further increase in Mergers & Acquisitions (M&A) activity in Romania in 2020 after one of the most successful years in the last decade. The first edition of a new KPMG publication The M&A Landscape in Romania shows investor confidence is continuing to build up, supported by the GDP growth trend and favorable geopolitical position in the region. Romania has become a significant investment destination, over the last 15 ...

NATO uses technology provided by UTI Grup within the Alliance Ground Surveillance (AGS) System

Wednesday, January 29, 2020

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UTI Grup has provided core modules for two important software components of NATO Alliance Ground Surveillance System: the software command and control application for the main command and control center (MOS – Mission Operation Support) and the software application for the Transportable General Ground Stations – TGGS. The software applications provide voice and message communications, data storage, interoperability and data disseminations among the participants in ...

Outsourcing reached EUR 800 M value in Romania în 2019

Wednesday, January 29, 2020

The Business Process Outsourcing (BPO) local market has reached a value of around EUR 800 million last year, up by 8 per cent as against 2018, according to forecasts by Computer Generated Solutions (CGS) Romania. According to this source, the largest volume of projects on the local market currently comes from companies operating on the telecommunications and IT&C sectors, particularly from USA. In terms of geographic regions ...

One in four Romanian employers can afford double digit wage hike

Wednesday, January 29, 2020

While one in four Romanian employers plans no wake hike for this year, there is a significant amount of companies that are ready, therefore they afford, rising the wages by double digit rates: 20% of them would rise the wages by 10%-15% and another 6.5% would accept hiking the wages by more than 15%, according to a poll conducted by online recruiting platform BestJobs.ro. The largest group of employers (35% of total) is formed by those ready to accept ...

Subway Romania posts 2019 financial results

Wednesday, January 29, 2020

Subway restaurants in Romania are among the busiest in the entire Subway network at European level. Last year, the average guest number of the 40 Subway units in our country was 74% higher than the European average, a result that contributed to the strong profit advance in 2019. The tasty, fresh and varied menu convinced the guests of the Subway Romania restaurants to try as many products as possible, and as a result the average check value increased ...

The company WeWork abandons plans to enter RO market

Wednesday, January 29, 2020

U.S. commercial real estate company WeWork, which provides shared workspaces for technology startups and is on the brink of collapse after massive losses, has decided to abandon its plans to enter the Romanian market. Last summer, WeWork reached an agreement with local developer Forte Partners to lease a new office building next to the Telephone Palace on Victoriei avenue. Under the contract signed with Forte Partners, WeWork ...

Ro FinTechs converge to establish the Romanian FinTech Association

Wednesday, January 29, 2020

Sixteen Romanian startups and scale-ups developing proprietary technology in the FinTech sector have signed the accession documents to the Romanian Fintech Association (RoFin.Tech) in Bucharest, on Wednesday, January 22nd. Emerged on the structure of the Fintech Camp community, whose events organized from 2016 introduced the local entrepreneurial environment to the applications of technology in the financial industry, RoFin.Tech is one of the first Romanian professional ...

Online retailer Vivre Deco to raise EUR 3-5 mln in bonds

Wednesday, January 29, 2020

Romania-based Vivre Deco, one of the largest online retailers of home & decor products in Central and Eastern Europe (CEE), is preparing to launch a bond issue of EUR 3-5 million, with a maturity of at least 3 years, to be listed on the alternative system of the Bucharest Stock ...

CMS - EMIS estimates Romania’s M&A market at EUR 3.74 bln in 2019

Wednesday, January 29, 2020

The mergers and acquisitions market in Romania reached around EUR 3.74 billion in 2019, just above half of that in 2018, with the retail, real estate and manufacturing sector generating half of the transactions, shows the Mergers and Acquisitions 2019 report carried by EMIS in partnership with CMS Law firm. Romania continues to prove itself a stable provider of deals and the overall M&A activity in the country went up by 10% year-on-year to 143 ...

Airbus Helicopters Romania services Bulgaria’s fleet as production project lingers

Wednesday, January 29, 2020

Airbus Helicopters Romania (AHRO), part of the Airbus group, recently signed a five-year framework agreement with the Bulgarian Ministry of Defense for the provision of integrated logistical support services to ensure the capacity of the Panther and Dauphin helicopters, the company announced in a press release on Thursday, January 23. In the meantime, the project of a helicopter factory developed at the same location, inaugurated in 2016, is still ...

Companies from 12 CEE countries, including Romania, sign Memorandum to set up Business Council of Growing Europe

Wednesday, January 29, 2020

Representatives of 12 Central and Eastern Europe (CEE)’s biggest and most dynamic companies have signed a memorandum establishing the Business Council of Growing Europe, PAP Press Center reports quoted by romaniajournal.ro. The objective of the initiative is to promote Central and Eastern Europe as an attractive investment destination for global investors and encourage cooperation between business leaders of the region. The initiative has been ...

ALRO Slatina to get 40 ml euro yearly via aid scheme for industrial consumers

Wednesday, January 29, 2020

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Aluminium smelter ALRO Slatina will receive about 40 million euros annually through the aid scheme for the support of industrial consumers through greenhouse gas emission allowances; other industrial units in the country will also benefit from this aid scheme, Environment Minister Costel Alexe announced on Wednesday in Slatina, after a visit to the aluminum production plant.The minister said that without this support ALRO was at risk to shut down, and that the ...

Brewers of Romania designate new president

Wednesday, January 29, 2020

The members of the Association Brewers of Romania have elected a new President, Dan Robinson, Managing Director Heineken Romania starting January 1, 2020. Dan Robinson took over this position from Lucian Ghinea, Director-General Bergenbier, part of Molson Coors, who represented the Brewers Association during 2018-2019. “We are proud that HEINEKEN Romania is one of Brewers of Romania Association’ founders and it is an honor for me to ...

Electrogrup enters the Bucharest construction market with EUR 5.6 M residential project

Wednesday, January 29, 2020

Electrogrup, member of the E-INFRA holding, announces the start of works for the third phase of the residential project CITTA’ Residential Park,  developed by Nusco Imobiliara, one of the largest industry operators in Romania, worth over 5.6 million euro. “Our proven experience in the construction area in Romania and other European states is highlighted by the company’s first project in Bucharest. We kick off, along with our ...

Miele Appliances, 2019 turnover in Romania exceeds 10 mln euros

Wednesday, January 22, 2020

German Miele Group's business in Romania increased by 20 percent in 2019, exceeding 10 million euros, with vacuum cleaners topping the bestsellers list, followed by washing machines and clothes dryers, shows company data published on Tuesday in a press release."The year 2019 was generous for Miele also due to the number of applications launched. Thus, at IFA 2019, Miele introduced four new products that, through innovations, are technologizing the public's homes: ...

Imagination Technologies opens development and testing center in western Romania

Wednesday, January 22, 2020

British company Imagination Technologies, focusing on semiconductor and related intellectual property licensing, has opened a new center in Timisoara, western Romania. The center will focus on intellectual property designed for artificial intelligence (AI) and computer vision. The team will initially focus on software development and testing activities, expanding into areas such as system architecture and design in the ...

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