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Carlo Pignoloni is the new country manager of Enel Romania, replacing Georgios Stassis

Wednesday, August 28, 2019

Enel announces that Carlo Pignoloni, who up until now was head of Enel Green Power’s operations in Italy, becomes the new country manager of Enel in Romania, replacing Georgios Stassis who left the Enel Group to take the helm of Greece’s top utility Power Public Corporation (PPC). “We are very pleased to have Carlo Pignoloni as the new country manager of Enel’s operations in Romania. His knowledge of the conventional part ...

GMB Romania Auto Industry builds EUR 9 mln car parts plant in Romania

Wednesday, August 28, 2019

GMB Romania Auto Industry, a company that is part of South Korean group GMB Korea, will open in 2020 a new factory in Oarja, near Pitesti, where Dacia carmaker operates its spare parts center and Turkish car parts producer Martur operates a production ...

Survey: Romanian employees waste up to two hours daily because of chatty colleagues, long meetings

Wednesday, August 28, 2019

Three out of four Romanian employees say they waste up to two hours every day because of things that distract them from their work, a survey of online recruitment platform BestJobs revealed. Among the most bothersome are the noisy phone conversations of colleagues, the work phone that rings too often, the background noise typical of open-space offices, the chatty fellow employees, and the meetings that run too long. The time spent on ...

As many as 8,715 startups created through EU-funded entrepreneurship schemes

Wednesday, August 28, 2019

As many as 8,715 companies have been created through the Diaspora Start-up, Romania Start-up Plus and Start-Up Nation programs, under EU-funded entrepreneurship schemes, minister of European Funds Roxana Minzatu told a press conference on Thursday.The official said that the situation is dynamic, as new businesses are further being set up with European funding.According to national centralized data, recreational and fun activities (CAEN code 9329) ...

China CEE Investment Fund II completed the acquisition of 15 grain silos and logistics hubs from Brise Group

Wednesday, August 28, 2019

China Central and Eastern Europe Investment Co-operation Fund II completes the acquisition of 15 grain silos and logistics hubs from Brise Group, and aims to create the first open access agriculture infrastructure platform in Romania. CEE Equity Partners, the Investment Advisor to the China Central and Eastern Europe Investment Co-operation Fund II, announces the acquisition of 15 grain silos and logistics hubs from the Brise Group, from now on ...

Silicon Forest plans to open a second location in Cluj-Napoca

Wednesday, August 28, 2019

Silicon Forest, a coworking space and technology hub, is planning to open a second location in Cluj-Napoca. In the first location, from the summer of 2018 until now, Silicon Forest has reached an occupancy rate of 80 to 85 percent, which is great for a business of this type. Most customers are small and very small companies, while the number of freelancers is between 25 and 30, depending on the month. Silicon Forest started out as a space for ...

PwC’s Survey:The Future of Audit – Perspectives on how audit could evolve

Wednesday, August 28, 2019

Companies and investors believe that audit reports should provide more clarity and insight into the company’s potential risks and future prospects and on how well-equipped the auditor thinks the company is to manage them, according to PwC’s Survey The Future of Audit – Perspectives on how audit could evolve. Most of those interviewed appreciate the quality of the present audit activity, but believe it can be ...

UPS appoints Yannick Mooijman as new managing director for Romania

Wednesday, August 28, 2019

UPS (NYSE:UPS) announced the appointment of Yannick Mooijman as its managing director for Hungary, Greece, Romania, and Slovenia, where he is responsibile for UPS’s operations, business development and strategy. He replaces Jim Kearney, who was promoted to vice-president, finance, UPS Emerging Markets. “Yannick has the experience to help UPS customers grow their business by tapping into cross-border and intercontinental trade flows, ...

Bayer names Jorge Levinson to manage the pharmaceutical business for Romania and Moldova

Wednesday, August 28, 2019

Bayer announces another top-level appointment effective starting August 2019. Jorge Levinson will lead the Pharmaceuticals Division, managing the business in Romania and the Republic of Moldova. He takes over ...

Sodexo Romania takes over 7card, becomes largest provider of corporate subscriptions in recreative activities

Wednesday, August 21, 2019

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The full package of shares of 7card was taken over, this month, by Sodexo Romania in a transaction started in 2016, the representatives of the two companies announced in a press conference held on Monday."The transaction we successfully completed this month consolidates the market for extra-salary benefits and allows us to offer companies in Romania even more support in the implementation of their programs for employee retention. The 7card integration between our services, an ...

DB Global Technology increases equity capital by EUR 14.6 M

Wednesday, August 21, 2019

DB Global Technology S.R.L. (DBGT), Deutsche Bank’s technology centre in Bucharest, has increased its equity capital by EUR 14.6 million to further develop the business in Romania. Deutsche Bank opened the technology centre in Bucharest six years ago, developing financial ...

GEZE Romania reports growing business of EUR 4.4 M in the financial year 2018-2019

Wednesday, August 21, 2019

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GEZE Romania, a company operating in the premium door, window and security technology, has announced financial results of 4.4 million euros for the fiscal year 2018-2019, up to 10% compared to similar period of last year. The category of automatic sliding door systems has the highest share in the total business, followed by the segment of revolving doors, which have made the most progress due to the launch of new ranges of large revolving doors. “The business successes of ...

Electrica Group posts H1 consolidated net profit of 109 mln lei

Wednesday, August 21, 2019

The Electrica Group registered, in the first six months of this year, a consolidated net profit of 109 million lei, a figure that represents 90pct of the annual budgeted value, informs the company in a release .According to the quoted source, the first quarter loss, in the amount of 41 million lei, was covered by a net profit of 150 million lei registered in the second quarter.The consolidated net profit budgeted for the year 2019 amounts to 121 million lei, so that ...

Safetech Innovations reached RON 4.9 million in revenues in the first semester

Wednesday, August 21, 2019

Safetech Innovations, one of the most important players on the Romanian information security market, ended the first half of 2019 with RON 4.9 million in revenues, a 22 percent increase compared to the same period of 2018. The net profitability has doubled in the first semester of 2019, reaching RON 279,000 compared to RON 133,000 in the first half of last year, thus becoming the best semester ever registered in the company’s history. The increase in the revenues in the first ...

Vox Technology Park to invest EUR 1.1 million in fitness club

Wednesday, August 21, 2019

Vox Technology Park from Timisoara leased 2,100 square meters to Nextfit, which will open in November an fitness club within the office project. This will be one of the largest fitness clubs from Timisoara after it will be opened at the first floor of Vox Technology Park. Nextfit will invest EUR 1.1 million in the space fit out and also in the purchasing of the Technogym equipment, global leader on the fitness equipment segment that integrates technology. Technogym is the official ...

The Competition Council authorized the partnership between Dedeman and Element Invest Partners

Wednesday, August 14, 2019

The Competition Council announced on Monday that they authorized the trading through which Dedeman and Element Invest Partners took over jointly the companies Element Distribution and Element Distribution Faza Doi, with a view to developing a real estate project. The trading is the association of Dedeman and Element Invest Partners with a view to developing a real estate project – the building of three logistics warehouses for renting. The ...

Ciech Soda Romania announces that they will stop the production in the factory în Ramnicu Valcea starting next month

Wednesday, August 14, 2019

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The leadership of the company Ciech Soda Romania, the owner of the only factory of sodium carbonate in the country, announces that, starting with September they will stop production in the unit in Valcea,  hundreds of employees being in danger of being laid off. The representatives of the company with Pole capital informed on Friday in a press release that  the main reason for which they have to take such a measure is the increase of the ...

Conpet H1 net profit up by 44.2 pct to 31.18 ml lei

Wednesday, August 14, 2019

National transporter of oil and petroleum products Conpet posted a net profit of 31.180 million lei in H1 2019, by 9.554 million lei (44.2 percent) higher compared to the 21.626 million lei reported in the same period of the previous year, shows a company report submitted to the Bucharest Stock Exchange.The operating profit as of June 30, 2019 was by 9.804 million lei (42.1 percent) higher compared to the same period of 2018.The company reported in H1 ...

Sphera Franchise Group's H1 profit up 6.2pct from restaurant business

Wednesday, August 14, 2019

Sphera Franchise Group reported a 6.2pct increase in profit from restaurant business in the first half of this year, to 49.4 million lei, and consolidated sales of 446 million lei, higher by 27.3pct compared to the same period of the previous year."The profit from operating restaurants increased by 6.2pct compared to the same period of last year, up to 49.4 million lei, supported by an annual increase of 35pct in Q2. EBITDA advanced by 17.0pct up to 36.7 million ...

Over 6.4 mln individual employment contracts registered end-March

Wednesday, August 14, 2019

The number of individual employment contracts registered in the General Registry of employees increased in March by 29,934 compared to the previous month, at the end of the first quarter being recorded 6,425,112 CIM, according to the data centralized by the Ministry of Labor and Social Justice.Of the total individual labour contracts registered, 91.5 pct (5,879,167 contracts) were for an indefinite period, of which 5,195,670 full-time and 683,397 ...

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