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Four startups receive investments of EUR 365,000

Wednesday, December 9, 2020

Four of the eight startups that participated in AdvancingAI, Techcelerator and Google's acceleration program dedicated to artificial intelligence, received combined investments of EUR 365,000.   The money will be invested by the investments funds GapMinder VC and Cleverage VC, the TechAngels network, and the equity crowdfunding platform SeedBlink. The startups that ...

PM Orban: Govt. to use every endowment contract as investment opportunity

Wednesday, December 2, 2020

Prime Minister Ludovic Orban stated, on Friday, during the visit to the construction site associated to the IVECO investment in Petresti, Dambovita County, that he has as an objective to use every endowment contract as an opportunity for investment, in increasing production capacities, as an opportunity for technological transfer.Petresti is the site chosen for the building of an assembly plant for trucks for the Romanian Army."The investment is ...

JYSK sees higher sales and profits in Romania

Wednesday, December 2, 2020

Danish furniture and home decor retailer JYSK recorded a turnover of RON 612.5 mln (EUR 127 mln) in Romania in the 2019-2020 financial year, up by 5.3% compared to the previous year. The gross profit went up by 8.4% to RON 81.9 mln (EUR 17 mln). "The results recorded in this financial year exceeded our expectations. It was a complicated year, with many ups and downs, with moments we hadn't thought we would ...

Only 58 companies from Romania în CEE Top 500

Wednesday, December 2, 2020

Only 58 companies from Romania qualified for the Top 500 Central and Eastern Europe compiled by Coface based on 2019 financial data.The number of Romanian companies in the ranking dropped by three compared to the previous edition. However, the total turnover of the 58 Romanian companies in the ranking increased by 7.6% to EUR 71.4 billion.   Nevertheless, their aggregate net profit fell by 19% to EUR 2.6 ...

Six in ten Romanian SMEs will run out of money within two months

Wednesday, December 2, 2020

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Almost six out of ten small and medium enterprises (SMEs) in Romania (58%) estimate their financial resources will cover their costs for only 1-2 months. Another 22% estimate that they have enough money for two to four months, according to a new barometer on the state of the economy carried by local financial consultancy firms Sierra Quadrant & Frames. Most of the respondents stated that they ...

Zitec consolidates its team and portfolio with new acquisition

Wednesday, December 2, 2020

Zitec, one of the biggest Romanian IT & digital marketing companies, specialized in developing digital transformation solutions and services, acquired the team and portfolio of Under Development Office (Udev).   Udev is a software development agency specializing in mobile applications and one of the most popular blockchain development companies in Europe. It has recorded sales of over EUR 1.5 million ...

Cargus courier opens new warehouse near Bucharest

Wednesday, December 2, 2020

Urgent Cargus, the second-largest courier company in Romania after Fan Courier, inaugurated a second warehouse near Bucharest, in Dragomiresti-Deal, following an investment of EUR 7.4 million.The project generated over 250 jobs and will double the company's sorting capacity in Bucharest.   "The steady growth of the market in recent years, but also the new developments, which have generated a huge leap in ...

2Performant lists its shares on Bucharest Stock Exchange

Wednesday, December 2, 2020

The tech company 2Performant, which presents itself as the leader of the local affiliated marketing market, will list its shares on the Bucharest Stock Exchange’s AeRO market by the end of this year.   The Financial Supervisory Authority (ASF) has already issued the registration certificate for the company’s shares and the next step is the BVB’s forma approval for the shares to start trading on its ...

Carmistin Group gets EUR 90 mln syndicated loan

Wednesday, December 2, 2020

Carmistin Group, one of the leading players in the Romanian agribusiness and meat processing market, has signed a syndicated loan amounting to RON 427 million (EUR 90 mln).   The financing came from a syndicate of banks led by BCR (a member of Erste Group), which also includes CEC Bank, EximBank, Intesa Sanpaolo Romania, and OTP Bank Romania.   Over 20 companies that are ...

Vodafone Romania reports lower service revenue

Wednesday, November 25, 2020

Vodafone Romania announces the key performance indicators for the quarter ended September 30th, 2020, as reported today by Vodafone Group Plc.Vodafone Romania continue to deliver good performance despite the challenging context in the quarter ended September 30th, 2020.   The Service Revenue is at EURO 195.1 million and continues to be stable on ...

Digi sees higher operating results

Wednesday, November 25, 2020

Romanian telecom group Digi Communications (DIGI), the biggest provider of fixed internet and cable TV services on the local market, reported total revenues of EUR 950 million in the first nine months of this year, up by 8.7% compared to the same period of 2019.  The growth was supported by a 12% increase in the total number of revenue generating units (RGUs), to 17.7 million (RGUs are services provided to clients, where one client can get one or ...

The fifth edition of the Top Employers 2020 in Romania

Wednesday, November 25, 2020

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Microsoft România, 2Checkout (now Verifone), Nobel, Softbinator Technologies, and Cornerstone Technologies are the most appreciated companies in Romania by their employees, according to “Top employers 2020”, ranking made by the Undelucram. ...

Telekom continues its promise "Telekonomy - Cut costs, not benefits"

Wednesday, November 25, 2020

Under the concept of "Telekonomy in all Romania", Telekom Romania launches the commercial offer dedicated to the winter holidays, through which the promise "Cut costs, not benefits" continues. Telekom is taking another important step in offering what Romanians want, significant discounts on telecommunications products and services, smart technology, and entertainment to spend quality time with the loved ...

PUPA Milano opens 3 mono-brand stores in Romania

Wednesday, November 25, 2020

PUPA, the Italian cosmetics brand present in Romania since 2015 through a network of six stores located in four cities, opens three new stores in the AFI Palace Cotroceni shopping center in Bucharest, AFI Palace Ploie?ti and AFI Palace Bra?ov, following a lease agreement intermediated by the real estate consulting company Cushman & Wakefield Echinox.   The opening of the three new stores was scheduled ...

Austrotherm has obtained State aids for a project worth EUR 3 million

Wednesday, November 25, 2020

REI Finance Advisors, one of the most dynamic consultancy companies specialized in attracting European funds and state aids for companies with activity in Romania, has successfully managed to get financing for a project worth 3 million euros for Austrotherm Romania, one of the biggest producers of construction materials in Romania. Earlier this year, Austrotherm decided to extend the production capacity of extruded polystyrene (XPS) at the Roman ...

MPF: Non-reimbursable financing extended for three years:

Wednesday, November 25, 2020

The Ministry of Public Finance (MPF) announced in September this year the extension by another 3 years of GD 807/2014, which grants up to 37,5 million euros for start-ups, SMEs and large companies, until 31.12.2023, with the session being open continuously. This means that projects can be submitted at any time and financing agreements will be issued up to 31.12.2023 with the possibility of implementing projects by ...

Acronis opens local office in Romania

Wednesday, November 25, 2020

Acronis, a global leader in cyber protection, today announced a new office opening in Bucharest. Located in Orhideea Towers — an office building in one of the most prestigious business areas of the city — and led by Cristian Manea, the Romanian team will support global Acronis development, raise the service level for local customers, and help the company to establish a deeper presence in the Balkans with ...

Luxuria Residence received ‘Best Upscale Project’ award offered by THE TIMES - Investing in Property

Wednesday, November 25, 2020

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Luxuria Residence, the first residential project in the country with BREEAM Excellent certification, won the ‘Best Upscale Residential Project’ award given by the prestigious real estate publication “THE TIMES - Investing in Property”. The award is a recognition of the unique housing concept, with integrated facilities, which Impact Developer & Contractor implements in the luxury compound from ...

Impact : 35% increase in sales revenue in the first 9 months of the year

Wednesday, November 18, 2020

Impact Developer & Contractor closed the first 9 months of 2020 with revenues from the homes sales with a total value of 135,349 million lei, increasing by 35% compared to the similar period of 2019. The evolution is due a 23% increase in sales volume, reaching a total of 258 units traded (apartments, plus parking lots and yard lands related to the package).   Of the 258 homes sold during this period, ...

TeraPlast Group builds new plant within 10M euro project

Wednesday, November 18, 2020

The TeraPlast Group will build a new factory within the TeraPlast Industrial Park in Saratel, northeastern Bistrita-Nasaud County, as part of a project with a total value of 9.8 million euro, according to a company statement submitted to the Bucharest Stock Exchange on Monday.For this project the company submitted an investment project under the State aid scheme, the amount of aid requested being 4.9 million euro.The products manufactured in the new ...

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