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Donalam Calarasi completes EUR 4 mln investment

Wednesday, May 20, 2020

The Donalam steel mill in Calarasi, southern Romania, part of the Italian group Beltrame, has completed a EUR 4 million investment in a special steel bar treatment equipment. This will allow the company to offer steel bar products with increased added-value (through treatment and finishing) and focus on customized orders. The company has financed the from its cash flow. "Our industry is highly ...

Elbit and Romanian companies, partners in planned programs of Romanian Army

Wednesday, May 20, 2020

Israeli defense electronics company Elbit Systems signed a Memorandum of Understanding (MOU) with Romanian companies Avioane Craiova and Romaero for cooperation in the field of Unmanned Aerial Systems (UAS) for the planned programs of the Romanian Defense Ministry (MApN). The Memorandum of Understanding stipulates that Romanian companies are responsible for assembly, integration, training, maintenance and repairs, and program ...

Vodafone Romania's revenues reached 905 million euros, on March 31, 2020

Wednesday, May 13, 2020

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Vodafone Romania has announced the key performance indicators for the year ended March 31st, 2020, as reported today by Vodafone Group Plc. Following the acquisition of UPC Romania starting with 31st of July 2019, the results for this year include also the reported figures of UPC Romania. Therefore, the consolidated total revenue mounted to EUR 905 million in year ended March 31st, 2020. This fiscal year was an important ...

ZIZIN launches its new image

Wednesday, May 13, 2020

ZIZIN mineral water company announced a new brand image and the launching of a positioning campaign. The main concept of the new brand image and campaign is harmony and urging people to achieve, according to a statement released by the company. The objective of repositioning the ZIZIN brand on a new territory was the start of all the changes to come. ZIZIN has aligned itself with modern life ...

Antibiotice Iasi shows profit higher by 25 pct, after Q1 of 2020

Wednesday, May 13, 2020

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Drug producer Antibiotice Iasi showed a net profit higher by 25 pct, following the first three months of the year, totaling 4.08 million RON, due to the fiscal facility exempting from tax profit invested in technological equipment, a release of the company sent on Tuesday to the Bucharest Stock Exchange shows."Following the income recorded and the expenses conducted, in Q1 of 2020 the gross profit is worth 4.19 million RON, a 1 pct increase in comparison to the ...

Assistance programme for medium, large companies under consideration

Wednesday, May 13, 2020

Prime Minister Ludovic Orban said on Tuesday that an assistance programme for medium and large companies in Romania, similar to the one for SMEs (IMM Invest), is currently under consideration for approval."Regarding assistance for companies, an assistance programme for medium and large companies, similar to IMM Invest, is currently under consideration for approval. Let's provide these companies as well products to guarantee loans for working capital and investment ...

Number of suspended businesses down 72 pct in first quarter of 2020

Wednesday, May 13, 2020

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The number of suspended companies decreased in the first three months of 2020 by 72.28%, compared to the same period last year, and reached 13,791, according to statistics from the National Trade Register Office (ONRC).Most suspensions were registered in Bucharest - 1,873 companies (60.58% fewer than in January-March 2019) and in the counties of Constanta - 615 (minus 43.98%), Cluj - 571 (minus 63.51) %) and Timis - 547 (minus 59.51%).At the opposite ...

MerchantPro reports record activity in April

Wednesday, May 13, 2020

MerchantPro, a Romanian online store developer, tripled the number of new online stores sold in April. Separately, the value of orders received by the stores on its platform doubled in April compared to the same month last year and went up 40% compared to March. MerchantPro also hosts and manages the stores it develops based on a SaaS e-commerce platform. The company has launched a special program, ...

Iulia Ionescu is the new Country Lead of Sanofi Romania and Moldova

Wednesday, May 13, 2020

Sanofi Romania announces that, as of 1 May 2020, Iulia Ionescu is the new Country Lead of Sanofi Romania and Moldova. Educated to be a medical doctor and with an experience of over 20 years in the pharmaceutical industry, Iulia Ionescu, MD is the General Manager of the General Medicines Division of Sanofi Romania and Moldova (diabetes, cardiovascular diseases and mature drugs) and also Execution Excellence Lead South Europe MCO, positions that she will continue to ...

ArcelorMittal resumes operations at its Hunedoara unit

Wednesday, May 13, 2020

The steel plant operated by ArcelorMittal group at Hunedoara in Romania resumed its production activity on May 3, observing the protection norms of the employees to prevent the spreading of the new ...

RCS&RDS wins court case over price hiking

Wednesday, May 13, 2020

Romanian telecommunications operator RCS & RDS obtained in court the annulment of an order of the National Authority for Consumer Protection (ANPC) dating from June ...

CEZ Romania operates working capital adjustment before planned divestment

Wednesday, May 13, 2020

The Romanian subsidiaries of Czech utility group CEZ transferred at the end of last year CZK 2.5 billion (EUR 92 million) to the parent company in a [working] capital adjustment before the planned divestment of the subsidiaries. The move aims to smooth the sale of the assets, the Czech company explained. "It is a capital adjustment in four of the CEZ companies [in Romania]. This is standard procedure in the case of a divestment ...

EvoMag expands warehouses capacity by 40%

Wednesday, May 13, 2020

Romanian electro-IT retailer evoMag announced that it would expand the capacity of its warehouses by 40%, in response to the market expansion estimated at 25% in the year-to-date period. The retailer says that its sales rose by 35% over the past couple of months. Out of the total orders in April, 40% came from first-time customers of the retailer. The number of natural persons buying from the evoMag online store has driven the ...

Altex invests EUR 27 mln in stores, warehouses

Wednesday, May 13, 2020

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Altex Romania, a major Romanian electro-IT retailer, which also operates an online marketplace, will invest over EUR 27 million in expanding its logistics network and opening at least three new stores by the end of the year. It will fund the expansion from its sources and also from other sources of financing that the company seeks to identify in the immediate future. The retailer has already started the construction works for the new stores in the ...

Continental Romania keeps hiring despite coronavirus epidemic

Wednesday, May 13, 2020

One of the largest factories in Sibiu, central Romania, operated by German group Continental, has continued hiring during the COVID-19 pandemic. The factory is also among the few local employers that test their employees for COVID-19, using the same method applied to patients at the County Emergency Clinical Hospital. The electronic components Continental factory in Sibiu is the largest in the West Industrial Zone of the city, ...

President Iohannis: A fundamental objective of economic relaunch plan - massive investments in all infrastructure types

Wednesday, May 6, 2020

President Klaus Iohannis on Tuesday stated that one of the objectives of the economic relaunch plan after the COVID-19 pandemic is to "massively" increase public investments in all types of infrastructure, with a strong emphasis to be placed from now on on the Romanian products."A fundamental objective of the economic relaunch plan I am working on together with the Orban Government is to massively increase public investments in all types of infrastructure, from ...

Quarter of Europe’s jobs at risk from coronavirus crisis: report

Wednesday, May 6, 2020

* Unemployment could almost double in the coming months, McKinsey predicts. More than a quarter of all jobs in Europe could be impacted by the economic fallout of the coronavirus pandemic, according to an analysis from McKinsey quoted by politico.eu. The consultancy estimated that up to 59 million jobs are at risk of things like reduced working hours, temporary furloughs or permanent job losses. Unemployment could ...

Eurostat: Online sales continue to grow for EU enterprises

Wednesday, May 6, 2020

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Enterprises in the European Union (EU) are increasingly relying ...

Economic agents will see the shutdown rate increases from 9, 8 pct in March 2020 to 13.8 pct in April 2020

Wednesday, May 6, 2020

The share of economic agents that will see their activity reduced by more than 25 pct goes up from 33.3 pct in March 2020 to 45 pct in April 2020, and the shutdown rate increases from 9, 8 pct in March 2020 to 13.8 pct in April 2020, according to a research conducted by the National Institute of Statistics (INS). One of the aspects revealed by the ad-hoc statistical research carried out to evaluate the impact of the COVID-19 epidemic on the volume of ...

Despite COVID-19 crisis, labour market sees increased demand in certain areas

Wednesday, May 6, 2020

While many areas of the labour market have been dramatically affected by the recent developments of the Coronavirus pandemic, with retail and HORECA suffering the most, as Business Review recently reported in an exclusive analysis, other ...

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