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Farmec pours EUR 2 mln in upgrading production line

Wednesday, June 5, 2019

Farmec, a 100% Romanian-owned cosmetics manufacturer, earmarked over EUR 2 million to modernize its production capacities, planning to open new brand stores and develop its distribution network at the same time. Farmec’s network of brand stores comprises eight units, located in Cluj-Napoca (three stores), Arad, Brasov, Sibiu, Târgu-Mure? and Timi?oara and 19 Gerovital stores in Cluj-Napoca, Bucharest, Constan?a, Timi?oara, Craiova, ...

TotalSoft 2018 turnover at 19 ml, Q1 2019 revenue up 16 pct

Wednesday, June 5, 2019

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TotalSoft, one of Central Europe's leading providers of business software solutions, reported a turnover of 19 million euro in 2018, while its revenues in Q1 2019 were 16 percent up YoY to 5.4 million euro, the company said in a release on Tuesday.For the end of 2019 TotalSoft - which turns 25 this year - estimates revenues of 23 million euro and EBIDTA of 3.7 million euro.Charisma ERP solutions accounted for the largest share of the company's 2018 ...

Damen To Build Two Hybrid Ferries For Canadian Company At Mangalia Shipyard

Wednesday, June 5, 2019

Two hybrid Roll-on/Roll-off ferries will be built for the Canadian company Seaspan Ferries at the Damen Shipyard in Mangalia, on the Romanian Black Sea coast. The ships, boasting a ...

Romania among emerging markets most vulnerable to a US-China trade war

Wednesday, June 5, 2019

Romania is one of the countries that are vulnerable to a possible global trade war, according to a Bloomberg analysis of 21 emerging economies, Economica.net reports quoting Bloomberg's analyse. Romania ranked 18th out of the 21 states in terms of their potential for resistance when faced with the effects of the trade war, while the Philippines and Egypt ranked first and second. Most of the states that ranked high on the ...

Wizz Air expects higher profit, more passengers in 2019

Wednesday, June 5, 2019

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Low-cost airline Wizz Air is expecting a growth in profit this year after delivering solid results for the 12 months to March 31 on Friday, Reuters reports. The air carrier is optimistic that it will do better than competitors in a context of a challenging operating environment and higher fuel costs in the coming year. Wizz Air is mainly focused on eastern and central Europe, meaning that it avoids the intense competition on ...

Profit of DIY chain Dedeman up 14%

Wednesday, June 5, 2019

Dedeman, the largest Romanian do-it-yourself (DIY) chain controlled by local investors Adrian and Dragos Paval, announced that its turnover rose by 14% year-on-year to RON 7.22 billion (EUR 1.55 billion) in 2018. The company's net profit hit RON 1.013 billion (EUR 218 million ), rising by a similar annual rate of ...

eMag revenues reach 4.77 bln lei in 2018

Wednesday, June 5, 2019

The revenues of the eMag group increased by 17.5 percent in 2018 to 4.77 billion lei, compared to the previous year, according to the company's results, presented on Wednesday in a press conference.The results were backed by the expansion of the product offer, by the increase in the number of customers throughout the region, and the investment in human resources, logistics, technology and international development.Currently, eMAG has reached 9.44 ...

Over 400,000 sign petition for regulation of ridesharing platforms in Romania

Wednesday, June 5, 2019

Over 400,000 Romanians have signed a petition for the regulation of ridesharing services in the country, an association of digital platforms Uber, Clever and Bolt said on Tuesday, seenews.com informs. The association called Coalition for Digital Economy deposited the signatures collected within less than a week at the government's registration office, it said in a press release. "Romanians - drivers and users, have shown to the ...

Net sales of Bosch in Romania went up by 29% last year to 5.6 billion lei

Wednesday, May 29, 2019

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Bosch, the global leader in technology and services provider finalised the fiscal year 2018 with an advance of net total sales of 29% against the previous year, reaching 5.6 billion lei (1.2 billion euro) in Romania, and the company announced that they invested 25 million euro in research/development in the unit in Cluj, according to the data presented on Thursday in a press conference. At the same time, the company finalised the fiscal year 2018 with ...

Deficit of people in online marketing

Wednesday, May 29, 2019

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The Romanians who work in the domain of optimisation of the sites for search engines (Search Engine Optimisation, SEO) have salaries between 500 and 1000 euro, but the heads of the SEO departments of the big western companies can earn, in exchange, five times more, according to a press release of a company in the sector. According to the press release, Romania has a big deficit of SEO specialists. Although the domain is no longer a new one, the number of those who work in SEO ...

Farmaceutica Remedia has a new CEO

Wednesday, May 29, 2019

The Board of th retailer for pharma products Farmaceutica Remedia (RMAH) decided to nominate Valentin-Norbert Tarus as general manager, shows a press release sent on Monday to BVB. This change is necessary to consolidate the retail structures, according to the company. ‘We consider as necessary this change at the leading level of the company to consolidate the retail structures through the efficiency of the activity of ...

The Regina Maria health network takes over Premiere Hospital in Timisoara

Wednesday, May 29, 2019

After three years in Timisoara, the Health Network Regina Maria, the only to have three hospitals with international accreditation, announced on Monday they will consolidate their medical expertise through the taking over of Premiere Hospital. The value of the trading is not specified. The trading is under the process of notification at the Competition Council. The Premiere Hospital has an integrated ambulatory, own medical ...

Number of dissolved companies in first four months of 2019, record-level in last 10 years

Wednesday, May 29, 2019

More than 55,900 companies were dissolved in the first four months of this year, the largest number of companies in the last 10 years, according to a special analysis .According to the National Office of Trade Registry (ONRC), quoted in the document, 55,942 companies were dissolved in the first four months of this year at national level, up 94.3 percent over the same period of the previous year."It is the largest number of dissolved companies in the ...

Insolvencies fall by 30.22pct, Jan.-April 2019, to 2.069

Wednesday, May 29, 2019

The number of firms and individuals facing insolvency fell by 30.22 percent in the first four months of 2019 compared with the same period of 2018, to 2,069, according to data posted on the website of the National Companies Register Office (ONRC).Most of them were in Bucharest, 366, down 36.01 percent from the same period of 2018. The ranking continues with the counties of Bihor, 155 insolvencies (-26.92 percent), Constanta, 106 (-34.16 percent) and Iasi, 104 (- ...

MedLife takes over Badea Medica centre in Cluj-Napoca

Wednesday, May 29, 2019

Private medical services provider MedLife has announced the acquisition of the majority stake (65 percent) of the Badea Medica excellence centre in Cluj-Napoca, which provides a wide range of medical services, with a special focus on the abdominal pathology segment: gastroenterology, internal medicine, dermatology, and pain therapy.   “Cluj represents one of the most important interest points in our development plan. We first opened a ...

Automobile Dacia posts all-time high profit in 2018

Wednesday, May 29, 2019

Romanian carmaker Automobile Dacia, a subsidiary of France’s Renault group, has registers a all-time high profit last year of EUR 162 million, up 40 percent compared to 2017. The group posted a total turnover of EUR 5.3 billion in 2018, an increase by 5 percent compared to the previous year. The results include only the Romanian businesses, excluding the Morocco factory that produces cars under Dacia ...

Analysis: 7 out of 10 companies in Romania postpone invoice payment, 53pct have no financial resources

Wednesday, May 22, 2019

Seven out of 10 companies in Romania postpone the payment of their invoices, while the average duration to cash an invoice at the level of the economy reached almost 120 days, a poll-based select analysis says.According to the data by Frames & Train Your Brain, 68pct of the managers of the companies operating in Romania have admitted that they postpone the payment of their invoices to the maximum limit, to ensure their cash flow necessary to continue their ...

Turkish company Martur increases production capacity of Arges factory

Wednesday, May 22, 2019

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The Turkish manufacturer of parts for Martur Automotive Seating and Interiors has inaugurated works for capacity extension of the factory în Oarja, Arges county, where 481 jobs will be created following an investment of 82.85 million lei. The investment is co-financed by state aid, according to a press release of the Ministry for Business, Trade and Entrepreneurship. The company increases its present production capacity for the manufacture of new ...

Analysis: Romanian economy needs 1 million workers, 10,000 industrial robots

Wednesday, May 22, 2019

Romania’s economy needs 1 million more workers as well as 10,000 industrial robots, according to an analysis by Frames on the country’s workforce needs, in the context of many industries facing a significant labour crisis, news.ro reports. “As in western countries, beyond recruiting and training employees, companies are seeking solutions that can reduce ...

Adobe Romania reaches 600 employees, wants 100 more

Wednesday, May 22, 2019

Adobe Romania, with 13 years of presence on the local market, exceeded the 600-employee milestone this month and has 100 more open positions for new team members. The current available roles are mostly related to software engineering. “The Romanian team has grown constantly over the last few years and our objective is to permanently reach out to the best people available for hire, the top 5 percent. The products we work on have global impact, ...

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