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Sercin Giray is the new Managing Director of Bayer Romania

Wednesday, June 3, 2020

As of June 1st, 2020, Sercin Giray takes over the lead of Bayer Romania, Bulgaria and the Republic of Moldova from her predecessor Pascal Cassecuelle, who will continue his activity as Head of Supply Chain EMEA for our Cropscience Division. Sercin Giray is now the new Senior Bayer Representative for the Romania, Bulgaria and Republic of Moldova Country Group and Managing Director of Bayer Romania, adding up to her current responsibilities as CFO for ...

Coronavirus pandemic spurs reduction in steel production in Liberty Steel Group by 20-30 pct

Wednesday, May 27, 2020


   The Liberty Steel Group estimates a reduction of steel production by 20-30 pct, for a period of at least three months and at most a year, reduction which will also affect Romania, announced, on Monday, in Galati (southeast), during a press conference, Sanjeev Gupta, executive chair of GFG Liberty Steel, which also has in its portfolio the steelworks in Galati.Sanjeev Gupta mentioned however that the level and value of ...

Happeo opens office in Cluj-Napoca

Wednesday, May 27, 2020

Finnish startup Happeo, a provider of intranet services for companies, is preparing to enter Romania, with an office in Cluj-Napoca, for which it has already started recruiting. The company has attracted USD 12 million in a Series A financing round led by investment fund INKEF Capital. It will use the money to accelerate product development and expand its teams in the Netherlands, Finland, Romania, and the ...

EBRD launches research hub for listed SMEs in six markets, including Romania

Wednesday, May 27, 2020


The European Bank for Reconstruction and Development (EBRD) has launched a program under which it will provide free research reports about listed companies in six countries, including Romania. The program aims to increase the exposure of medium-sized listed companies in the selected countries. Funded by the TaiwanBusiness-EBRD Technical Cooperation Fund, the program will provide coverage by analysts for several medium-sized ...

Ideologiq - 40% increase in turnover in 2019

Wednesday, May 27, 2020

With over 15 years of experience in digital communication, Ideologiq agency reports a 40% increase in turnover in 2019 compared to 2018. In the current context, Ideologiq had a positive financial evolution in the first quarter of 2020, due to both an increased number of clients compared to the 2019 portfolio and to the fast adjustment to the new market context. “The speed of the change in the digital field is extraordinary and this is the aspect ...

Bonami sales in April reach EUR 6 million, exceeding expectations

Wednesday, May 27, 2020

Bonami, the online store with furniture and decorations, exceeded the initial forecast for April, achieving sales of EUR 6 million in all markets where the company is present, of which EUR 1 million on the Romanian market. ”Even though the growth was initially slower, since mid April sales have followed a steady upward trend. In percentage, Bonami achieved sales 30 percent higher last month than in March, when the pandemic crisis broke out. We ...

Bittnet Systems to move to the primary market of Bucharest Stock Exchange

Wednesday, May 27, 2020

Romanian tech group Bittnet Systems is the first company to move from the alternative trading system AeRO to the primary market of the Bucharest Stock Exchange (BVB). Its shares will start trading on the regulated market on June 3. BVB approved the transfer on Monday. Bittnet Systems (BNET) is a local integrator of I&C solutions and a provider of training services. The company has a market ...

SMEs ask Govt. for clear economic reconstruction calendar

Wednesday, May 27, 2020


The National Council of Private SMEs in Romania (CNIPMMR) has asked the Government to quickly come out with the promised package of measures for economic recovery and set clear deadlines and budgets for each objective. Such an outline would ensure the stability and predictability of the business environment. It would also clarify the drivers of the economic recovery and development over the next period, given that the COVID-19 pandemic has affected the ...

Energy-intensive companies to get EUR 291 mln state aid

Wednesday, May 27, 2020

Some 170 Romanian electricity-intensive companies will get state aid worth around EUR 291 million, related to their electricity consumption in ...

GreenWEEE develops first LCD, LED screen recycling unit in region

Wednesday, May 27, 2020

GreenWEEE, a Romanian company operating on the waste electrical and electronic equipment treatment and recycling market, has inaugurated the first line for recycling TVs and equipment containing flat screens - LCD, plasma and LED, in Central and Eastern Europe. The new facility required an investment of EUR 500,000. "The new line will allow the treatment of over 2,500 tonnes of televisions and equipment containing flat screens ...

Mega Image opens 11 new stores in Romania this month

Wednesday, May 27, 2020

Dutch-Belgian retailer Mega Image continues expanding in Romania by opening 11 new units in May. Eight stores will operate under the Mega Image label and three others as part of the proximity-store chain Shop & ...

Support programmes for SMEs could run from second half of June

Wednesday, May 20, 2020

Minister of Economy, Energy and Business Environment Virgil Popescu stated that support programmes for small and medium-sized enterprises will probably start in the second half of June."At the Ministry of Economy and Business Environment we still have the micro-industrialization programme, which is addressed to SMEs, and here we are talking about micro-grants of up to 450,000 lei for investment, for technological equipment. We have the trade and services programme ...

57,800-plus SMEs with a total of about 726,200 jobs sign up for dedicated IMM Invest program

Wednesday, May 20, 2020

More than 57,800 small and medium-sized enterprises with a total of about 726,200 jobs have signed up for the IMM Invest program, and about 5,000 files have received the banks' approval so far, Dumitru Nancu, director general of the National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM) said on Tuesday."We got 57,807 files, and the banks have processed and approved about 5,000 of them. This is the first and only program to produce effects ...

ONRC: self-employed, sole proprietors and family-owned businesses at 381,152 as of end-March

Wednesday, May 20, 2020

Romania had 381,152 self-employed persons / sole proprietorships / family-owned businesses registered as of March 31, 2020, by 634 (0.16 percent) more than in the previous month, shows data centralized by the National Trade Register Office.Most of these entities were registered in Bucharest (26,640) and in the counties of Cluj (17,850), Bihor (17,152) and Iasi (14,212).The total number of business owners was 417,037 most of whom (53 percent) were aged ...

Bittnet Group reports revenues of RON 19 M in the Q1 of 2020

Wednesday, May 20, 2020


Bittnet (BNET), a group of IT companies, listed on the AeRO market of the Bucharest Stock Exchange reported 19,3 million lei in consolidated revenues as of March 31st, 2020, an increase of 21% compared to the revenues from Q1 2019, and tripling of a gross margin. BNET shares will float on the Main Market of the Bucharest Stock Exchange in the next weeks, as the company has already submitted all the documentation required for the transfer to take place to the ...

MedLife Group expands syndicated loan by another EUR 20 mln

Wednesday, May 20, 2020

MedLife, the leader of the private medical services market in Romania, has expanded its syndicated credit facility by another EUR 20 million to approximately EUR 110 million. The group will use the extra funds for the development of several projects in the context of COVID-19. The projects are in the area of prevention, research, and refurbishment. MedLife also plans to continue its program of acquisitions, both nationally and ...

Romanian startups and scaleups that raised capital during pandemic times

Wednesday, May 20, 2020

Some venture capital firms and business angels are looking to the new trends that have come up and invest in Romanian tech startups and scaleups. SanoPass: 400.000 euro (Cleverage Venture Capital, Founders Bridge, SeedBlink) SanoPass, a Romanian start-up that aggregates independent medical service providers to sell preventive medical packages to firms, has raised 400,000 euro just at the ...

Digi Communications revenues in Q1 2020 up by 11 percent to 313.2 million

Wednesday, May 20, 2020

Digi Communications Group registered increasing revenues in the first quarter of 2020 by 11 percent compared to the same period of previous year (from EUR 281.2 million to EUR 313.2 million). Adjusted EBITDA was EUR 114.7 million (including IFRS 16), 26.4 percent increase compared to previous period. Digi Group delivered a strong overall performance in the first quarter of 2020. Given the general public health context, since mid-March, the company ...

Stable performance for Telekom Romania in Q1 2020

Wednesday, May 20, 2020

Telekom Romania group announces key performance indicators in the first quarter of 2020, ended March 31, 2020, as reported today by OTE Group. With a year-on-year growth on the major financial KPIs – Revenue & EBITDA – the company managed to improve the results in Q1 2020, compared to the same period in the previous year. Consolidated revenues increased to EUR 237.1 million, a growth of 9.5 percent over the result of Q1 2019. At the same time, Adjusted ...

Study: Romania should capture investors disappointed by China

Wednesday, May 20, 2020

Romania must focus on encouraging domestic production for local and foreign markets, according to an analysis conducted by experts from Moneycorp Romania, quoted ...

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