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PwC global survey: 64% of companies plan new safety measures when reopen work sites
Wednesday, May 6, 2020
Almost two-thirds (64%) of the respondents globally plan new safety measures and requirements for employees in order to return to work, according to the most recent edition of PwC’s COVID-19 CFO Pulse Survey, from 28 April. In this context, 55% want to reconfigure work sites to promote physical distancing and 22% to reduce real estate footprint. ”Most companies have moved beyond the short-term, reactive phase of the novel coronavirus ...
Over 20,000 applications on SME Invest portal, sent to banks
Wednesday, May 6, 2020
Over 37,000 SMEs have so far registered on the SME Invest portal, and 20,139 applications have been sent to the banks chosen by the participants, the general manager of the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM), Dumitru Nancu said on Monday."The banks are going to send us for guaranteeing as of today and we hope to start signing the first contracts tomorrow," Nancu said, adding that 150 employees processed applications during ...
Number of foreign capital newly established companies drop by rd 20 pct in Q1 2020
Wednesday, May 6, 2020
The number of foreign capital newly established companies drop by 19.7 pct pct in the first quarter of 2020, compared to the same period of 2019, to 1,201 units, according to the data released by the National Trade Register Office (ONRC).The 1,201 new companies had a total subscribed share capital of USD 2.015 million, down 48.9 pct from January-March 2019.As of 31 March 2020, the largest number of foreign-owned companies were with investors from ...
Transylvania Bank reported net profit 40% lower in Q 1
Wednesday, May 6, 2020
Transylvania Bank, the largest bank in Romania reported a net profit of 260.99 million lei, dropping by 40.15% in quarter 1, to net incomes of 660.07 million lei from interest rates, 1.31% lower, according to the report sent to Bucharest Exchange (BVB) on Thursday. Transylvania Bank financial group reported a net result of 303.94 million lei, lower by 40.11% and net incomes from interest rates of 737.7 million lei, on the drop by ...
Zentiva invests 25 mln lei in 2019 in modernization of its existing capacities
Wednesday, May 6, 2020
Zentiva Romania, a local producer of generic drugs, invested last year approximately 25 million lei in new equipment and in the modernization of existing capacities, especially when it comes to pellet and injection solutions manufacturing, according to a press release .The company has also invested in laboratory equipment and other manufacturing areas to accommodate new products in the factory. Over 50 pct of the production is made for export, to countries such as ...
Orange Romania posts EUR 257.4 turnover in Q1 2020, down as against the same period în 2019
Wednesday, May 6, 2020
According to the financial results available for Q1 2020, Orange Romania has registered a turnover of EUR 257.4 million, which means a decline by 2.9% as against the same period in 2019, amid moderate sales of equipment prompted by the COVID-19 crisis, the company announced in a press release today. At March 31, 2020, Orange Romania provided mobile, fixed and TV services for 10.768.700 customers, up by 1% as the end of ...
IT company DocProcess opens office in Paris
Wednesday, May 6, 2020
DocProcess, a Romanian company developing digital solutions that help automate business processes, has opened a commercial office in Paris, France. The company, which already has a research and development center in Grenoble, plans to reach 25 employees in France and EUR 1 million in booked revenues from French clients by the end of this year. "France has always been a strategic market for DocProcess, and we believe its ...
Over 32 million euro foreign capital injections in financial market in Q1
Wednesday, April 29, 2020
Companies operating on the Romanian financial market received from foreign shareholders capital injections of 32.55 million euros in the first quarter, 2.6 times more than in the same period in 2019, when they amounted to 12.52 million euros, according to data of the National Office of the Trade Register (ONRC).The largest capital infusion was received in January by the Metropolitan Life Societate de Administrare a unui Fond de Pensii Administrat Privat SA, of ...
Mobexpert opens stores, factories to follow
Wednesday, April 29, 2020
Mobexpert Group, one of the biggest furniture retailers in Romania, reopened its standalone stores on Monday, April 27, after it has operated only online since March 19. The stores that are part of shopping malls or commercial galleries will remain closed as an effect of the restrictions under the state of emergency. The group will also reopen its furniture factories, four of them next week, and three others around ...
Business dissolutions in Romania, down 8.6pct in Q1 2020
Wednesday, April 29, 2020
The number of business dissolutions decreased by 8.63% in the first three months of 2020, y-o-y, to 7,773 from 8,507 companies in Q1 2019, according to data with the National Companies Registry Office (ONRC).Most dissolutions were reported in Bucharest City - 1,368 companies (down 5.33% from Q1 2019) and in the counties of Constanta (436, + 3.07%), Timis (403, - 4.73%) and Brasov (391, + 72.25%).Against Q1 2019, the largest increases in dissolutions ...
ONRC: Insolvencies drop 12.52 pct in Q1 2020
Wednesday, April 29, 2020
Insolvencies of trading companies and self-employed persons were 12.52 percent down in Q1 2020 from the same period of the year before, at 1,320, shows data released on the website of the National Trade Register Office (ONRC).Bucharest tops the list with most insolvencies - 140, down 46.56 pct compared to January - March 2019, followed by Bihor County with 135 insolvencies (+13.45 pct), Constanta with 84 (the same as the year before), and Timis with 78 (+21.88 ...
Most companies operating virtually strongly affected by COVID-19 crisis
Wednesday, April 29, 2020
Most companies that are conducting their economic activity in the virtual environment were powerfully affected by the crisis generated by the COVID-19 pandemic, shows a study conducted in the April 1-20, 2020 period, on a sample of 592 companies.Thus, 28.6 pct stated that they had a decrease in income between 20 and 40 pct, and almost as high a percentage (26.3 pct) noted drops in income between 60 pct and 100 pct, reveals the study made by online marketing and ...
Renault's Q1 revenues down 19 pct, Dacia registrations plunge 40.1 pct
Wednesday, April 29, 2020
French automaker Renault posted on Thursday a 19.2 percent plunge in first quarter revenue to 10.125 billion euros and said it is still too early to assess the impact the coronavirus pandemic will have on the group's results this year, Reuters reports.The Dacia plant owner, which has already scrapped the payment of dividends for 2019 as well as its targets for 2020, was severely affected by the health crisis that has prompted a collapse of demand for cars and the ...
Michelin Romania resumes production at the tire plant in Zalau
Wednesday, April 29, 2020
After Dacia, another automotive plant is resuming activity in Romania. French group Michelin has announced that they had resumed activity in their second plant in Romania, the tire ...
TeraPlast Group posts 20% increase in revenue in Q1-2020
Wednesday, April 29, 2020
TeraPlast Group, the Romanian construction materials manufacturer, registered a 32% growth in EBITDA in Q1-2020 versus Q1-2019, up to RON 17,4 million, despite the outbreak of the coronavirus crisis in March. The Group’s turnover rose by 20% in the same period, up to RON 208,9 million. TeraPlast SA and TeraSteel Serbia were the main drivers of growth. „Our Group implemented extensive investment projects in 2019, worth almost RON 100 ...
Holde Agri Invest buys Romanian firm operating farmland in Calarasi
Wednesday, April 29, 2020
Holde Agri Invest SA, a Romanian farmland operator announces it has signed an agreement for the acquisition of Agromixt Buciumeni, a Romanian company established in 1991 that operates farmland in the Calarasi county. The transaction will result in Holde Agri Invest operating over 7,000 hectares of land. The acquisition of Agromixt Buciumeni represents a strategic investment for Holde Agri Invest, which will list in the coming months on the AeRO market ...
500 ml lei available for local administrations, SMEs under 2014 - 2020 Regional Operational Programme
Wednesday, April 29, 2020
Development and Administration Ministry announces the signing of 24 investment contracts financed under the 2014 - 2020 Regional Operational Programme; 17 contracts refer to projects that will be initiated in several Romanian administrative-territorial units and 7 are intended for small and medium-sized enterprises."An amount of 490,562,950 lei will be invested in projects consisting of integrated sustainable transport systems, public transport ...
Bittnet Group enters the E-Commerce market, launches IT&C Solutions Online Store
Wednesday, April 29, 2020
Romanian Company Dendrio Solutions, an IT&C integrator that is part of Bittnet Group, enters the e-commerce market as it launches Dendrio Shop – an online platform where companies can purchase software, licenses, IT solution, and hardware. The product offer of Dendrio Store particularly targets the SME segment, providing them with tailored solutions and a dedicated sales channel where their orders can be handled with priority. In the current context of the COVID-19 ...
CME's OIBDA from Romanian operations falls 14% in Q1
Wednesday, April 29, 2020
Central European Media Enterprises (CME) said on Wednesday that its first-quarter operating income before depreciation and amortization (OIBDA) from business in Romania fell by 14% year-on-year at actual rates to $15.06 million (13.9 million euro). Net revenues from operations in Romania increased 1.8% on the year in the January-March period to $39.5 million, the international broadcaster said in an interim financial ...
80% of Romanian firms will still hike wages this year
Wednesday, April 29, 2020
About 60% of the 160 companies polled by Mercer Marsh Benefits in Romania have already increased wages based on targets agreed for this year, or are about to implement increases. Another quarter of them, which had decided to raise wages later in the year, are waiting for the economic ...