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Start-ups on foreign capital decline 37pct seven months into 2020

Wednesday, September 9, 2020

The number of start-ups running on foreign capital in Romania decreased in the first seven months of 2020 by 37%, y-o-y, to 2,110 according to data with the National Trade Register Office (ONRC).The 2,110 new companies had a subscribed share capital of 4.574 million US dollars in all, down 66.3% from January-July 2019.As of July 31, 2020, the largest number of companies on foreign capital was run by Italian investors, namely 49,286, with 3.854 billion ...

Companies with 10% turnover decline can receive subsidies for 'flexible hours'

Wednesday, September 2, 2020

  The financial governmental package for completing the employees revenues whose working hours have been reduced can be accessed by companies having registered this year a monthly decline of 10% of the turnover, compared with the similar month of 2019, Labour and Social Protection Minister Violeta Alexandru said on Friday.The Labour Minister pointed out that the Government decided on Thursday's meeting to adopt ...

Compa Sibiu swings to loss of 4.05 ml lei in H1

Wednesday, September 2, 2020

Car parts manufacturer Compa Sibiu swung to a loss of 4.05 million lei in H1 2020 from a profit of 23.75 million lei in the same period last year, shows the report published on the website of the Bucharest Stock Exchange."Compa, a company operating in the automotive industry, has been and is affected by this health crisis, as the global car industry and the European car industry in particular witnessed an unprecedented contraction in the first part of 2020. ...

Sphera Franchise Group's H1 consolidated sales slump 31.6 pct

Wednesday, September 2, 2020

Sphera Franchise Group posts consolidated sales of 304.6 million lei in H1 2020, 31.6 percent lower YoY due to the lockdown period, shows data provided by the company."The Group's consolidated sales in the second quarter stood at 106.3 million lei, 54 percent lower compared to Q2 2019; the most significant impact was in April, when most restaurants were completely closed and deliveries were limited. The loss in Q2 was offset by rapid and firm cost-cutting ...

Deloitte Survey:Companies spend less than 5% of their revenue on technology

Wednesday, September 2, 2020

Organizations around the world spend less than 5% of their revenues on technology, even so-called tech vanguards – companies with a well-defined vision and strategy and a mature tech function -, according to the 2020 Deloitte Global Technology ...

Companies in several areas affected by COVID should receive European money

Wednesday, September 2, 2020

The National Council for Private Small and Medium-sized Enterprises in Romania (CNIPMMR) proposed that Parliament expand the list of areas of activity that will benefit from foreign non-reimbursable funds related to the Competitiveness Operational Program 2014-2020, in the context of the crisis caused by COVID-19.Thus, according to a release, the CNIPMMR proposals were addressed to the Economic, Industry and Services Committee regarding Emergency Ordinance ...

Grant of 200,000 euro offered by the Romanian Government with EU Funds through the Support Scheme “Grants for investments”

Wednesday, September 2, 2020

Any company with a 70,000 euro profit in the last two years can access the maximum grant of 200,000 euro offered by the Romanian Government with EU Funds through Action 3 of the Support Scheme “Grants for investments”. Moreover, new eligible activities have been introduced to Action 2, supporting the companies that have been affected by the Pandemic.   The ordinance 130 that was adopted on the ...

Building materials manufacturer Leier announces investments of over25 million euros in Romania

Wednesday, August 26, 2020

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  The Austrian building materials manufacturer Leier announced on Monday that the group was having cumulated investments of over 25 million euros in Romania and will open two concrete factories în Simand, Arad county and Catcau, Cluj county next year, while other investments will be made to build a new concrete prefab section in Iasi and developing and upgrading of production processes in the present factories of the group. The two factories ...

Huawei reached 30% market share in Romania in semester 1

Wednesday, August 26, 2020

The business of Huawei in Romania reached a market share of 30% în the first semester of the year, while the number of Romanian applications within AppGallery grew from zero to 700, according to data published on Friday by officials of Huawei Consumer Business Group.   According to the source, Huawei reported a market share of 29.3% (May 2020) on the smartphone segment, being the highest value recorded until now in ...

Competition watchdog sanctions GlaxoSmithKline with 11.9 ml lei

Wednesday, August 26, 2020

The Competition Council sanctioned pharmaceutical company GlaxoSmithKline SRL (GSK) with 11.9 million lei (rd 2.45 million euro, ed. n.) for failure to comply with the commitments undertaken during an investigation into a possible abuse of dominant position, the competition authority said in a release on Tuesday.In 2017 the Competition Council closed an investigation into a possible abuse of dominance by GSK, after the company took a set of commitments regarding ...

Over 28,000 companies shut down in first seven months of 2020

Wednesday, August 26, 2020

The number of companies shut down in the first seven months of 2020 has dropped by 62.15 pct compared to the similar period of last year, down to 28,082 deregistrations, according to the statistics of the National Office of the Trade Register (ONRC).Most shut downs took place in Bucharest - 4,329 companies (48.32 pct less than in January-July 2019) and in Cluj - 1,312 (minus 52.31 pct), Constanta - 1,221 (minus 39.94 pct) and Timis - 1,174 (minus 49.44 ...

Insolvencies decrease by 14.8pct seven months into 2020

Wednesday, August 26, 2020

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The number of companies and authorised individuals (PFAs) going insolvent decreased by 14.84% in the first seven months of 2020, compared with the same period in 2019, to 3,179, and according to data published on the website of the National Trade Register Office (ONRC).Most insolvent companies and PFAs were reported in Bucharest City, at 663, up 4.91% from January-July 2019. The next places in the insolvency ranking are the counties of Bihor - 241 insolvencies ...

Competition Council analyzes takeover of Erber by Koninklijke DSM

Wednesday, August 26, 2020

The Competition Council is analyzing the transaction by which Koninklijke DSM NV and its branch DSM International Participations BV intend to take over the company Erber Aktiengesellschaft, according to a press release of the Council. Koninklijke DSM produces chemical substances and is specialized in biological and material sciences. The Romanian branch of the group will produce preparations to feed farm animals. Erber is the ...

Deloitte study: companies redirected almost half of the marketing budgets towards social media and mobile activities during the COVID-19 pandemic

Wednesday, August 26, 2020

During the COVID-19 pandemic, companies redirected almost half of the marketing budgets (46%) towards social media and mobile activities, according to the latest edition of Deloitte Chief Marketing Officer (CMO) Survey, twice as much as before the pandemic. The study also emphasizes that marketers anticipate a ...

Posta Romana is fined RON 35K for not delivering internal priority mailings on time

Wednesday, August 26, 2020

The National Company "Posta Romana" (CNPR) has been fined by the National Authority for Administration and Regulation in Communications (ANCOM) with 35,000 RON (rd 7,200 EUR, ed. n.) for the failure to deliver internal priority mailings on time. According to a release of ANCOM, as a universal service provider in the field of postal services in Romania, for the period from 1 January 2014 to 31 December 2019, Posta Romana had the obligation to comply with a ...

M&A trends in the first half of 2020

Wednesday, August 26, 2020

While the Romanian mergers and acquisitions (M&A) market saw 19 deals with a cumulative value of EUR 600 million signed in the first three months of the year, the number of transactions halved in the second quarter, when fewer than 10 deals were closed, http://business-review.eu/ reads Although the first quarter of 2020 was better than the same period of 2019, the mergers and acquisitions market collapsed as ...

Romania, one of the leaders in European tech’s fastest-growing regions

Wednesday, August 19, 2020

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Central and Eastern Europe is catching the attention of foreign investors and Romania could become an important European tech ecosystem,http://business-review.eu/ reads Romania and Estonia rank first among Central and Eastern European (CEE) countries in terms of the value of investments in local startups in the last seven years, according to a Dealroom study. Romanian ...

Holde Agri wants EUR 40 mln financing for expansion

Wednesday, August 19, 2020

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Farming holding Holde Agri Invest is preparing loans and leasing contracts totaling over EUR 38 mln to finance its working capital, the purchase of agricultural equipment and land, and the expansion of its storage ...

Daimler’s business in Romania, down for the second year in a row

Wednesday, August 19, 2020

Star Assembly, German group Daimler’s division in Romania that produces automatic gearboxes, recorded a turnover of EUR 1.52 billion in 2019, down by 2.2% compared to the previous year, according to data from the Finance Ministry. This was the company’s second business decline in Romania. Star Assembly recorded its biggest turnover in 2017, little ...

Digi Communications Group revenues up 5 percent in the second quarter of 2020

Wednesday, August 19, 2020

Digi Communications NV Group published its financial results for the second quarter ended June 30, 2020, increasing revenues by 5 percent compared to the same period of the previous year (EUR 310 million compared to EUR 294 million) and achieving + 9 percent RGU growth, up to 16.9  million from 15.5 million as at June 30, 2019. Adjusted EBITDA was EUR 115 million (including IFRS 16), a 6 percent increase compared to previous ...

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