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Competition body slaps heavy fine on Corsar Online retailer

Wednesday, January 9, 2019

Romania’s Competition Council issued a RON 1.6 million (EUR 0.34 mln) fine against local firm Corsar Online, the operator of cel.ro online shop, for having operated three other online shops (www.marketonline.ro, www.mediadot.ro and www.azerty.ro) before receiving formal approval for their takeover. Corsar Online has displayed on products and operated the sales related to the said internet domains, previously operated by other companies, the ...

Over 16,000 companies suspend activity 11 months into 2018

Wednesday, January 9, 2019

The total number of companies having suspended their activity went up 14.21 percent in the first 11 months of 2018 as against the similar period of 2017, reaching 16,663 from 14,590, according to the data centralised by the National Trade Register Office (ONRC).The largest number of companies having suspended their activity were registered in Bucharest - 1,767, and in the Counties of Bihor - 957, Cluj - 745 and Constanta - 675.In comparison to the ...

Dacia made over 335,000 cars at Mioveni in 2018, worth EUR 5 billion

Wednesday, January 9, 2019

Automobile Dacia produced 335,262 cars in 2018, 7 percent more than 2017 (21,000 more vehicles), http://business-review.eu informs. Most of the production was covered by the Duster with 236,921 units coming out of the Mioveni factory, according to ACAROM data. The Duster, the model that can have four-wheel drive, is also the most expensive car produced at Mioveni by Dacia-Renault. At an average price of about ...

Romaqua Group gets EUR 6 mln state grant for development

Wednesday, January 9, 2019

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Romania’s Romaqua Group, best known as the producer of Borsec mineral water, will receive a RON 28.8 million (some EUR 6 million) state grant, according to data from the Finance Ministry quoted ...

Penta Investment to buy another pharmacy chain in Romania

Wednesday, January 9, 2019

Czech-Slovak group Penta Investments, which bought in 2018 A&D Pharma, including the Sensiblu pharmacy chain, reached an agreement at the end of last year to purchase the Belladonna pharmacy chain in ...

Over 73k companies deregistered at end of November 2018, with Bucharest at top

Wednesday, January 9, 2019

The number of the deregistered companies dropped at the end of November 2018 by 0.93pct as compared to the similar period of 2017, reaching 73,088, the data of the National Trade Register Office (ONRC) inform.Most of the removals from the ONRC were recorded in Bucharest (11,739 companies), by 2.53pct less than in the first 11 months of 2017, seconded by the counties of Cluj (3,468, plus 7.3pct), Timis (2,894, plus 2.19pct), and Iasi (2,875, minus ...

Morphosis Capital holds first closing for Romanian SMEs Growth Capital Fund

Wednesday, January 9, 2019

Morphosis Capital, a newly established private equity firm focused on growth capital investments in Romanian Small and Medium Enterprises (SMEs), has announced the successful first closing of Morphosis Capital Fund I at EUR45 million. The Fund’s main investor is the European Investment Fund, with resources from the Regional Operational Programme, co-financed through the European Regional Development Fund. Morphosis Capital Fund I plans to invest ...

The 9 key challenges of Romania within the next decades

Wednesday, January 2, 2019

The World Bank has drafted a chart of challenges we face and that will shape the world of tomorrow – and Romania will certainly be fundamentally changed by these global trends. Business Review presents the main challenges that will change Romania and the businesses in the country within the next decades. 1. In 1990, more than a third of people in the world lived in extreme poverty – living on EUR 1.90 a day or less. In 2015, the most recent year with ...

Applications for Start-Up Nation 2018 have started

Wednesday, January 2, 2019

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Application for Start-Up Nation program has started December 27, http://business-review.eu informs Over 4,000 users registered in the first two hours, and over 1.400 business plans were uploaded, according to Business Environment minister, Radu Oprea. The procedure for implementing the minimis scheme for Start-Up Nation 2018, where the state is offering non-refundable funds of up to RON 200,000 (EUR 43,000), was published in the Official Gazette last week. Start-Up Nation 2018-2019 ...

Young Romanian entrepreneurs to follow

Wednesday, January 2, 2019

Diversity, innovation and enthusiasm are the most common ingredients of the Romanian start-ups analysed by the Business Review team. There are many businesses that impressed us mainly because of the entrepreneurial behaviour of their founders and of their vision and strategy which are completely different from what the Romanian economy has given so far. Business Review team chose young entrepreneurs who have businesses with huge potential of becoming iconic for the national ...

The most important fiscal changes in 2019 that you should know about if you are doing business in Romania

Wednesday, January 2, 2019

The Government has approved on December 21, in spite private environment’s opposition, a ordinance that brings significant fiscal changes starting 2019. One of the most controversial new tax that has been approved through this ordinance is the tax on bank assets, the so-called  ...

Competition Council fines Orange Romania for ”discriminatory treatment”

Wednesday, January 2, 2019

The Competition Council has finalized an investigation opened in 2016 against Orange Romania for possible “discriminatory treatment” in relation to SMS service providers and SMS ads with a fine of over 1 percent of the company’s turnover – over EUR 10 million – for “abuse of a dominant position”, according ...

2018 Start-Up Nation programme application to be available as of 27 December

Wednesday, December 19, 2018

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The application for signing-up with the Start-Up Nation 2018 programme opens on 27 December 2018 and it's available for 30 business days, a release of the Ministry for Business Environment, Trade and Entrepreneurship informs.The non-reimbursable financial allocation, worth a maximum of 200,000 lei per beneficiary, can represent 100 percent of the value of eligible costs (including the VAT for non-payer companies) related to the project.The score of the business plan ...

KPMG study : Big data needs a big re-think: consumers are more anxious, but businesses can restore trust with greater transparency

Wednesday, December 19, 2018

Global KPMG study of 25,000 consumers reveals that we are embracing new technology, but are concerned about the types of data held by businesses. Three-quarters of consumers are willing to share their data, but over half are concerned with identity theft, and almost three-quarters don’t trust anyone with their social media data. According to a study released recently by KPMG International, consumers are more ...

Vodafone Romania, OMV Petrom, Banca Transilvania and Auchan: Top best employers in 2018

Wednesday, December 19, 2018

Vodafone Romania, OMV Petrom, Banca Transilvania and Auchan are considered the best employers in 2018, according to a survey conducted by the BestJobs recruiting platform, after assessing 100,000 employees. The BestJobs top ranks the employers by the evaluations of their own employees. Romanian employees have granted marks from 1 (lowest level of satisfaction) to 5 (highest level of satisfaction) to the companies they work for, based on criteria such as degree of satisfaction at ...

Deloitte study: What are the expectations of the employees and how can the employers adapt to the new trends?

Wednesday, December 19, 2018

Demographic and technological changes are the two major trends that transform the workforce, according to the Deloitte study “Voice of Workforce in Europe”, which reached out to more than 15,000 people from ten European countries, namely France, Germany, Italy, the Netherlands, Poland, Spain, Sweden, Switzerland, Great Britain and Romania. Demographic trend. The decline in birth rates and the late entry of young people into the labor market lead to a ...

Fondul Proprietatea asks full transparency and safeguards against potential conflict of interest in the board of Portul Constanta

Wednesday, December 19, 2018

Fondul Proprietatea has voiced its disapproval of the lack of transparency from the Ministry of Transport, as majority shareholder who proposed the revocation and appointment of members to the Board of Directors of Portul Constanta, without providing any information or supporting documents to the minority shareholder. Shareholders will express their vote on this proposal during the GSM scheduled on 17 December 2018. FP says that the Ministry of Transport has not disclosed the ...

EY: Economic growth in emerging markets still facing corruption-related challenges

Wednesday, December 19, 2018

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In the past five years, emerging markets have seen significant changes and a strong development, having become centres of economic strength and stimulating global development, http://business-review.eu reads. However, changes in regulation and a more intense fight against corruption are changing perspectives when it comes to risks, according to an analysis by Simona Radu, Associate Partner, Forensic & Integrity Services at EY Romania. ...

Blue Air expects 10 pct turnover growth in 2018, to EUR 460 million

Wednesday, December 19, 2018

Blue Air estimates its 2018 turnover at EUR 460 million, a growth of about 10 percent compared to the previous year, according to its latest press release, http://business-review.eu reports. Celebrating its 14thanniversary, the company said it has transported over 26 million passengers since it became operational, making it the largest Romanian airline by the number of passengers transported. To mark Romania’s Centenary, Blue Air ...

Wielpütz Automotive gives up factory in Craiova

Wednesday, December 19, 2018

The Germans had signed a lease of 3 hectares of land in the High-Tech Industry Park, a business platform owned by the County Council, to build a car parts factory, with the investment planned to mount to EUR 10 million. The plant was supposed to start production on September this year. In May, the land take over ceremony marking ...

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