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Romanian cosmetics manufacturer to launch franchise for Farmec and Gerovital brands

Wednesday, February 28, 2018

During 2014-2017, Romanian cosmetics manufacturer Farmec has recorded an increase of almost 36 percent in sales on the foreign market, romaniajournal.ro reads. According to Ioana Turdean, Foreign Sales Manager Farmec, this growth is due to the implementation of new trade policies for foreign partners, the development of products tailored to the particularities of certain markets, and the expansion of the portfolio, capital.ro ...

Amadeus and Routehappy by ATPCO partner to bring flight shopping to life for travelers across the world

Wednesday, February 28, 2018

When buying any product online, it’s expected that you will see what you are getting. Currently that isn’t always the case when booking a flight. Often you see information that relates only to price and schedule. Now imagine booking a long-haul flight and being able to see what type of seat you will have, the cabin and amenities you’ll receive during the flight or deciding whether you want to add lounge access based on photos of the facilities or upgrading ...

Insolvencies up 47%, suspensions by 133%, in January (ONRC data)

Wednesday, February 28, 2018

The number of commercial companies and authorized individuals in insolvency rose in January by 47.07% compared to January 2017, to 753, according to the data posted on the website of the National Trade Register Office (ONRC).Most of the companies and PFAs in insolvency are in Bucharest, 163 respectively, up 60.07% compared to January 2017. The capital city is followed by Bihor County, with 68 (+100%) and Timis County, with 43 cases (+86.96%). Most insolvencies ...

Greek toys retailer AS Company enters Romania to compete Jumbo, Noriel

Wednesday, February 28, 2018

AS Company, an important player on the Greek toys and games market, expands its business in Romania, where it will open the second subsidiary outside ...

Telekom Romania sees slight decrease in revenues in 2017

Wednesday, February 28, 2018

Telekom Romania recorded total revenues of EUR 972 million in 2017, down from EUR 985 million in the previous year, according to the annual report of Deutsche Telekom, the group’s indirect shareholder, romania-insider.com informs. The adjusted operating profit (EBITDA) went down by 5.1% year-on-year, from EUR 175 million in 2016 to EUR 166 million in 2017. Telekom ...

OMV Petrom records net profit worth 2.489 bl lei in 2017, up almost 2.4 times

Wednesday, February 28, 2018

OMV Petrom Group recorded in 2017 a net profit worth 2.489 billion lei, almost 2.4 times higher (140 percent) compared to the net result recorded in 2016, namely 1.038 billion lei, according to the unaudited financial results released on Wednesday by the company.The net profit corresponding to the OMV Petrom shareholders in 2017 stood at 2.491 billion lei, higher by 139 percent compared to the same period of 2016. The earnings per share amounted to 0.0440 ...

Orange sees 7.7% higher turnover in Romania in Q4 2017

Wednesday, February 28, 2018

Telecom operator Orange Romania registered a turnover of EUR 280 million in the fourth quarter of last year (October-December), up 7.7% year-on-year. The total turnover for 2017 thus went slightly over EUR 1 billion, the company announced. “The increase was mainly driven by the positive evolution of the use of mobile data, fixed-mobile packages, and mobile equipment sales,” reads the press release. At December ...

Huawei Consumer Business Group Romania appoints Zachary Jianglinchao as country manager

Wednesday, February 28, 2018

Zachary Jianglinchao has been appointed country manager at Huawei Consumer Business Group Romania, the smartphones producer on second place in the local market according to the market share, business-review.eu informs. Jianglinchao has worked for over 10 years at Huawei and he has been product manager for 2 years at the headquarter of the company, in Shenzhen, China, and during 2015-2017 he has been country manager in Mexico, where he had good results ...

Palumbo Group opens new site in Romania

Wednesday, February 28, 2018

* Palumbo Group's latest acquisition on the banks of the Black Sea in Romania comes on the back of a €10 million takeover of a marine facility in Savona, Italy, maltatoday.com.mt informs Palumbo Group, which runs the Bormla shipyard, has just opened a new site in Costanza, Romania, as it continues with its rapid expansion. The development comes just a month after it invested more than €10 ...

Italy’s Fincantieri, interested in taking over Mangalia Shipyard, sources

Wednesday, February 28, 2018

Trieste-based Fincantieri shipbuilding company, one of the world’s the largest shipbuilding groups, with over EUR 4 billion annual turnover, also controlling the Norwegian group Vard, the owner of the shipyards in Tulcea and Braila, sent the Romanian Government an operational management offer for the Mangalia Shipyard and then, buying 49 percent of its shares, sources said ...

Codrin Scutaru appointed Deputy Managing Director for McGuireWoods Romania

Wednesday, February 28, 2018

Codrin Scutaru is the new Deputy Managing Director of McGuireWoods Romania, which recently celebrated its 10th anniversary of doing business in the country, as a press release informs, romaniajournal.ro informs. “Codrin’s appointment as deputy managing director of McGuireWoods Romania office is a clear recognition of his great management and advocacy skills, as well as his ability to provide exemplary client service,” said Nadia ...

Euro Construct Trading ’98 got into insolvency

Wednesday, February 21, 2018

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The construction company Euro Construct Trading ’98 controlled by Sorin Vulpescu and Dan Besciu got into insolvency due to a crisis of liquidity, the company announced on Wednesday that they received the approval on the part of the tribunal at the request for judicia reorganisation, lodged to the Tribunal Bucuresti, sectia VII Civila. Euro Construct Trading ‘98is the third among the local construction companies on a market where other ...

P&G Urlati: we recorded an advance of over 40% of the production over the last two years

Wednesday, February 21, 2018

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The factory Procter&Gamble of Urlati, Prahova county registered over the last  two years, an advance of over 40% of the production, at half-year of the fiscal year has an advance of 10-15% against the initial estimate, in the context of the growth of consumption on the markets,and the units produces over a billion of consumers stated for News.ro the general manager of the factory,Christopher Jones. The factory in Urlati started its activity in ...

Florin Jianu: the fiscal “pseudo-revolution” has affected all private sector salaries

Wednesday, February 21, 2018

All salaries in the private sector have been affected by the fiscal pseudo-revolution, according to Florin Jianu, president of the National Council for Private SMEs (CNIPMMR), who added that the increase in the minimum wage from RON 1,450 to RON 1,900 and the mandatory renegotiation of collective work contracts meant higher costs for entrepreneurs, business-review.eu reads. Jianu said that transferring contributions from employer to employee was a ...

Kaufland has budgeted EUR 200 M for expanding and upgrading its network in Romania this year

Wednesday, February 21, 2018

German retailer Kaufland is going to invests EUR 200 million to expand and upgrade its stores network in Romania this financial year starting March 1, 2018, double the budget of the previous financial year, Loredana Samoila, PR manager Kaufland Romania, announced on the occasion of the official opening of a new store in the southern part of Bucharest, romaniajournal.ro informs. In the next 12 months, Kaufland will open 10 new stores in Romania after ...

Digi Communications records five times higher profit than last year

Wednesday, February 21, 2018

Digi Communications NV, one of the most important telecommunication suppliers in Romania and Hungary reported a net profit of 61.7 million euros in 2017, five times higher than in the previous year, according to the preliminary financial report published on BVB website. In 2016, the company reported a total net profit of 11.78 million euros. In 2017, the company registered a significant income increase. On December 31, 2017, we ...

Companies breaching Labor Code rules for overtime can be fined by up to RON 3,000

Wednesday, February 21, 2018

The legal regime of the supplementary work is stipulated in the Labor Code, where it’s written also the context for overwork, how the employees have to receive compensations and who can never work in these conditions, business-review.eu informs. For the part-time contracts there is a tough sanction for the employers who oblige the employees to do overtime; there are several fines proposed for not following the overwork regulations, according ...

MedLife mulls expansion into Bulgaria, Hungary, Serbia

Wednesday, February 21, 2018

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Romanian privately-owned medical services provider MedLife [BSE: M] is considering expansion into several neigbouring countries and new acquisitions at home in 2018, the company CEO, Mihai Marcu, has said, seenews.com informs. "We have taken steps so as to see to what extent we can be present with our own units in neighbouring countries like Bulgaria, Hungary or Serbia. In a first stage, we want to test the market, so we will not have far-reaching ...

Romanian IT company Tremend buys U.S.-based 648 Group

Wednesday, February 14, 2018

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Romanian software engineering supplier Tremend said on Tuesday it has finalised the acquisition of U.S.-based web and mobile company 648 Group for an undisclosed sum, seenews.com informs. Tremend has customers in 14 US states and the acquisition is an important step in the company's strategy to expand presence in the US, among other regions like the UK and the Scandinavian countries, it said in a press release. "648 shares the ...

Food Machinery Corporation with annual turnover of over USD 3 bln opens a branch in Romania

Wednesday, February 14, 2018

American group Food Machinery Corporation with annual turnover of over USD 3 billion in agricultural sector and chemicals industry, has opened a branch in Romania, FMC Agro Operational, according to profit.ro.quoted by business-review.eu The company ...

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