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Survey: Romania’s labor market, more prudent in the first quarter of 2019

Wednesday, December 19, 2018

More than two thirds (70%) of employers in Romania anticipate no changes in the size of their payrolls in the first quarter (Q1) of 2019, the largest percentage in over two years, and this suggests the labor market is more prudent than it has been in recent quarters, according to the ManpowerGroup Employment Outlook Survey for the January-March 2019 interval. About 20% of Romanian employers anticipate adding to their payrolls in the first quarter of 2019, while 9% anticipate ...

WDP extends its investment in Romania by EUR 45m project

Wednesday, December 19, 2018

Belgium-based WDP has signed an agreement for the development and lease of 77,000 m²of logistics warehouse space at its existing site in Bucharest for retailer Auchan. The investment budget amounts to about EUR 45 million. This new development emphasizes WDP’s strategy of creating long-term relationships and cross-border partnerships, a press release informs. After a first collaboration between WDP and the French international retail group Auchan in Luxembourg, WDP will ...

Lenovo to expand its Data Center in Bucharest, double the team by the end of 2019

Wednesday, December 19, 2018

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Lenovo is developing a research center in Bucharest, one of the few such centres it has in the world, and looking to hire another 125 people in 2019, doubling the current number of employees, http://business-review.eu reports. Three years after the acquisition of the IBM server division, Lenovo Data Center Group has doubled its market share and is among the top three manufacturers of local data center solutions. Lenovo DCG recorded a 12 ...

Regina Maria Opens EUR18M Hospital in Cluj

Wednesday, December 19, 2018

Regina Maria, the second largest player on the Romanian private medical services market, has opened a 148-bed hospital in Cluj-Napoca, following an investment of EUR18 million. The private hospital will hire 94 doctors at first, ten of whom also work in state hospitals, but its strategy is to hire doctors to work solely for the private network. The hospital will be ready for patients starting January 2019 and company representatives expect the hospital will serve 20,000 ...

Almost 117,000 companies in Romania closed down or got into insolvency in the first 10 months of the year

Wednesday, December 12, 2018

Almost 117,000 companies in Romania closed down or were in difficulty in the first 10 months of the year up by over 5,600 against the same period of 2017, shows a specialty analysis published by the analysts in Sierra Quadrant. Thus, out of the total of 116,952 companies in difficulty between January and October 2018 a number of 7,026 companies got into insolvency, 15,014 suspended their activity, 65,631 were written off and 29,278 ...

Business people: the state budget for 2019 must rely on the freezing of salaries in the budgetary sector

Wednesday, December 12, 2018

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The Association of Business People of Romania (AOAR) announced on Monday that the state budget for 2019 should rely on the freezing of the salaries in the budgetary sector as the aggressive increase of salaries in the central administration and local administration is one of the major causes for the attractiveness of the workplaces in this sector as compared to the private sector. AOAR is concerned by the proposals referring to the state budget and the ...

TAP Air Portugal Leaves Romania

Wednesday, December 12, 2018

Portuguese airline TAP Air Portugal will no longer operate direct Lisbon-Bucharest flights starting January 27, 2019, citing lack of profitability for the route, it said Monday. Flight ticket holders will be redirected to other flights or could get their money back, the company said. This is TAP's second attempt to operate direct flights to and from Romania but the route has proved unprofitable ...

Five new companies to benefit from state aid scheme for stimulating investments

Wednesday, December 12, 2018

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On Monday, financing agreements were granted to the following companies Automobile Dacia SA, Sogefi Suspensions Eastern Europe SRL, Swoboda Sibiu SRL, Martur Automotive Seating and Interiors SRL, Omnia Europe SA. Minister of Public Finance Eugen Teodorovici on Monday handed over to representatives of five companies financing agreements granted based on the state aid scheme for boosting investments with a major impact in economy, so that the number of ...

Oltchim receives EUR 127 mln payment from Chimcomplex, transfers its assets to new owner

Wednesday, December 12, 2018

Oltchim announced its shareholders that it had received the full EUR 127 million transaction with Chimcomplex S.A. Borzesti, a company controlled by businessman Stefan Vuza, and it completed the transfer of ownership, http://business-review.eu informs. ”It’s an unprecedented success. We demonstrated that a correct reorganization, as the one that has been done for ...

City Grill owner Dragos Petrescu looking to expand to the hospitality industry, buy several hotels

Wednesday, December 12, 2018

Dragos Petrescu, the owner of City Grill restaurant chain in Bucharest, is negotiating the takeover of two boutique hotels in Bucharest. The businessman told Business Review that the expansion of his business into the hospitality industry is inevitable and that a transaction is expected next year. “We know for sure thay we want to enter this industry. We consider it an extension of our current business. We are ...

NEPI Rockastle and Globalworth’s yearly revenues more than EUR 100 million above other players

Wednesday, December 12, 2018

NEPI Rockastle, the major investor on the Romanian real estate market, with a portfolio close to EUR 2 billion comprising mostly retail projects, made around EUR 100 million from rents in the first three quarters of the year, and will probably reach EUR 120 million by the end of the year. Other important investors are AFI Europe with more than EUR 40 million in income in the first 9 months, and Globalworth. Globalworth, with an EUR 1.2 billion ...

CrowdStrike Inc., US cybersecurity technology company opens Centre of Excellence in Bucharest

Wednesday, December 12, 2018

 CrowdStrike Inc., one of the most important US cybersecurity technology companies will open on 11 December A Center of Excellence in Bucharest, Romania's Embassy in the United States of America informs in a press release.According to the cited source, Romanian Ambassador to the US George Cristian Maior had a meeting on Wednesday with Dmitri Alperovitch, co-founder and CTO (Chief Techonology Officer) of CrowdStrike Inc., one of the most important providers of ...

Sportisimo opens 16th store in Romania

Wednesday, December 12, 2018

Sportisimo, an important sports retailer founded almost 20 years ago in the Czech Republic, present on the local market since 2015, will open a new store at Botosani Shopping Center, north-eastern Romania. The store in Botosani will open by the end of the year, will cover an area of over 800 square meters and it will be the retailer’s 16th unit in Romania. Sportisimo is one of the largest retailers of sports articles in ...

Colt included Bucharest in the expansion of its IQ Network in the CEE region

Wednesday, December 12, 2018

Colt Technology Services has announced on Thursday the expansion of the Colt IQ Network in Central and Eastern Europe, further ...

Hiring subsidies of about 480 euro per job for companies taking in jobless, young graduates

Wednesday, December 12, 2018

 The companies hiring jobless people or young graduates will receive a monthly subsidy of about 480 euro (2,250 lei) for each such employee for 12 months, the Ilfov Employment Agency (AJOFM) said in a release on last Wednesday.These incentives are intended for businesses that hire for an indefinite period unemployed aged over 45, single parents who are the family's sole breadwinners, long-term unemployed or young people who are not in education, employment or ...

P3 Logistic Parks buys plot for new logistics park near Bucharest

Wednesday, December 12, 2018

Pan-European logistics developer P3 Logistic Parks has purchased a 16 hectare land plot near Bucharest, in Dragomiresti Vale – a prime location for logistics activity on the north-western outskirts of the capital city. A new 80,000 sqm logistics park, which will be named P3 Bucharest NW Ring Road, will be developed on this land. It will have immediate access to Bucharest’s new ring road and will allow for easy connections with all parts of ...

Competition watchdog slaps EUR 53 ml worth of fines on nine insurers, trade association UNSAR

Wednesday, December 5, 2018

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The Competition Council handed down fines worth a total of 246.74 million lei (approximately 53 million euro) to nine insurers and the National Union of Romania's Insurers and Reinsurers (UNSAR) for having coordinated their market behavior in order to trigger the increase of RCA mandatory civil liability insurance fees."Following the conducted investigation, the competition authority found that insurers Allianz - Tiriac Asigurari SA, Asigurarea Romaneasca - Asirom ...

Start-Up Nation 2018: Business plans online registration platform to open in second half of December

Wednesday, December 5, 2018

The government will adopt at this week's sitting the Ordinance on the Start-Up Nation Program, and the business plans online registration platform will open in the second decade of December, the Ministry for Business Environment, Trade and Entrepreneurship said in a release.The updated version of the procedural documents required for the online registration with the 2018 edition of the Start-Up Nation Program was released on the Ministry's website, the business ...

Analysis: 17,000 companies in the Romanian software industry generate EUR 5.4 billion in turnover and employ 106,000 people

Wednesday, December 5, 2018

There are over 17,000 companies active in the Romanian the software industry today, nearly 3,000 more than in 2012. Last year, their turnover went up to EUR 4.9 billion, and this year it will exceed EUR 5.4 billion, according to an analysis conducted by KeysFin cited by http://business-review.eu.  Compared to 2007, software business grew by 150 percent, and compared to 2016 by 5.4 percent, a sign that the market has ...

Decathlon opens its 23th store in Romania in Veranda Mall

Wednesday, December 5, 2018

Decathlon, the leading European sporting goods retailer, opened the fifth store in Bucharest and its 23rd in Romania in Veranda Mall, http://business-review.eu reads.  By implementing the new Borna Plus service, shop visitors have the ability to order online products from several points on-site, other than those available in the commercial space, which ...

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