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TX Logistik to link Romania and Germany by a second route

Wednesday, October 9, 2019

TX Logistik, an Italian rail logistic group, ponders launching a new route to link western Romania with Germany as a more economic and environmentally-friendly alternative to the road transportation of ...

Doraly near Bucharest develops retail park

Wednesday, October 9, 2019

Local commercial center Expo Market Doraly, a cash-and-carry format developed in Afumati, near Bucharest, after the fall of communism, where proximity store owners can buy inventory directly from importers, announced plans to develop a modern retail project, Doraly Retail Park, under a EUR 6 million investment. Doraly group recently launched an online retail platform as well. The first tenant of the new retail park is the Danish ...

Unilever buys 75% of Romanian ready-to-eat food producer FruFru

Wednesday, October 9, 2019

British-Dutch group Unilever, one of the biggest players on the local FMCG market, has bought a 75% stake in Romanian company Good People, which owns the ready-to-eat food brand FruFru. The company’s founder Mihai Simiuc has kept a 25% stake in the company and will continue as general manager, according to a report on the Bucharest Stock Exchange. The value of the transaction was not disclosed but the company presented the ...

Turbo Hoet Group gets 50% stake in DAF truck importer in Romania

Wednesday, October 9, 2019

Belgian company Turbo Hoet Group, which specializes in selling new and use trucks as well as truck parts, has acquired earlier this year a 50% stake in EVW Holding, the only importer and distributor of DAF trucks in ...

MFE prepares two financing lines under SOP-HRD, for SMEs, tourist operators

Wednesday, October 2, 2019

The Ministry of European Funds prepares two financing lines with the money still available under the Sectoral Operational Programme Human Resources Development (SOP HRD) for the current financial year, one for the acquisition of digital skills for the employees of the SMEs, but also for students and pupils and, respectively, one for the qualification of the hotel and restaurant staff, Minister Roxana Minzatu announced on Saturday in Brasov."There are two financing ...

Official Oprea: We want to launch Start-Up Nation III by end of year, after budgetary rectification

Wednesday, October 2, 2019

The third edition of the Start-Up Nation government program could be launched by the end of the year, after the budgetary rectification, the Minister for the Environment, Trade and Entrepreneurship, Radu Oprea, who participated in a debate organised by the Brasov Chamber of Commerce and Industry on the new financing opportunities."We are currently debating, we were in Bucharest, with the SME Council, in Timisoara, now we are in Brasov and next month - as we plan ...

Fan Courier becomes postal services' leader with 21pct market share

Wednesday, October 2, 2019

The postal services' total value in Romania in 2018 parked at RON 3.2 billion lei (rd EUR 680 million), up by 13pct against the previous year, and the Posta Romana National Company (CNPR) lost its first position to Fan Courier, the private courier service, which recorded a 21pct market share, show the data released on Tuesday by Romania's National Communications Regulation and Administration Authority (ANCOM).At a general level, the revenues from internal ...

KPMG Romania appoints two new partners 

Wednesday, October 2, 2019

Gabriel Mihai Tanase, Partner, Technology & Cyber Security, and Horatiu Mihali, Audit Partner, will join KPMG in Romania’s partners team from 1 October. The new promotions announced by KPMG in Romania reflect our trust in the success of the Romanian business environment and in Gabriel’s and Horatiu’s abilities to transform new challenges into opportunities for our clients. Horatiu Mihali, Audit Partner, and coordinator of ...

Importing labor: a short-term solution to a historical workforce crisis

Wednesday, October 2, 2019

Local authorities and employers alike are addressing the country’s workforce crisis by adopting a short-term solution long tried in these realms – importing foreign workers, a measure that seems to temporarily ease a long-term problem.  In August, the Romanian government increased quotas for non-EU foreign workers in 2019 by 50 percent to 30,000 work permits, an all-time high, under the pressure of higher demand from local companies ...

Trade Register: Romanians set up over 97,000 companies in first 8 months

Wednesday, October 2, 2019

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Romanians set up 97,364 new companies over January-August, on the rise by 5.8% compared to the same period of 2018, according to statistics published by the National Office of Trade Register (ONRC). Over January-August 2018, Romanians set up 92,030 companies.  The highest dynamics was recorded for public administration and defense, social security in the public system with an increase of 60% in first 8 months, 2019 compared ...

DocProcess opens new office in Brasov

Wednesday, October 2, 2019

DocProcess, the Romanian company specialized in the automation and interoperability of business processes within and between companies, has expanded its national presence by opening an office in Brasov, capitalizing on a part of a recent capital infusion. DocProcess develops cloud digitization solutions to streamline procurement, logistics and financial-accounting processes. The solutions can be used by companies in retail, DYI, production, logistics, ...

Continental to cut thousands of jobs

Wednesday, October 2, 2019

German automotive company Continental AG, which manufactures tyres, brakes and car safety products, said this week that it would cut jobs and close several plants over the next decade as a response to the slowing global auto sector, Reuters reports. The restructuring is expected to cost around EUR 1.1 billion, mainly to be spent between 2019 and 2022. The aim is to save about EUR 500 million in gross costs per year from 2023 ...

ONRC: Number of insolvencies drops 29 pct in first eight months

Wednesday, October 2, 2019

The number of companies and registered sole traders entering insolvency dropped by 29 pct in the first eight months of 2019, compared to the similar period of last year, to 3,978 insolvencies, the data published by the website of the National Office of the Trade Register (ONRC).Most companies and registered sole traders entering insolvency were registered in Bucharest, namely 669, a drop by 39.5 pct compared to the same period of 2018. In the following spots in ...

Study: Five counties in Romania generate 90 pct of IT industry revenues

Wednesday, October 2, 2019

The Romanian IT industry, one of the main pillars of economy, currently has 5 relevant centers in terms of financial results, according to a study conducted by Termene.ro, a platform that offers real-time updated information about Romanian companies. Almost 90 percent of the revenues generated by the IT services industry are concentrated in centers formed around 5 counties in Romania, while the remaining 37 counties ...

DT-OTE group reportedly agreed to sell Telekom Romania fixed-line operations to Orange 

Wednesday, September 25, 2019

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The Deutsche Telekom - OTE group has reportedly agreed to sale stake in Telekom Romania to Orange, but they still need green right from the Romanian state, which would have pre-emption rights, sources close to the talks have told HotNews.ro. Romanian Communications minister Alexandru Petrescu offered PM Viorica Dancila on July 22 to create and coordinate a inter-ministerial group uniting representatives of multiple ministries and intelligence service and a first session of the group was ...

Agricover net profit, up 31 pct in H1, 2019

Wednesday, September 25, 2019

Agricover Credit IFN (non-banking financial body, ed. n.), a financial institution aimed at financing Romanian agriculture, ended the first half of 2019 with an operating result of 26.8 million lei and a net profit of 23.3 million lei, up by 31pct compared to the same period last year, according to a press release sent on Friday.In the first six months, Agricover Credit IFN provided financing worth 576.4 million lei to a number of 3,465 farmers, the credit exposure exceeding 1.64 ...

Romania ranks 3rd in Coface CEE Top 500

Wednesday, September 25, 2019

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Romania went up on the 3rd position from the 4th position in the Top 500 companies in Central and Eastern Europe - Coface CEE Top 500, with 61 companies, increasing from 56, this development being due to the expansion of consumption, County Manager of Coface Romania Eugen Anicescu told a news conference ."The development of the Romanian economy was a dynamic one in terms of consumption. We see that we have a significant number of players in the trade sector. This significant ...

Study: Over 70 pct of micro-enterprise activity in Romania generated by firms with turnovers below EUR 250,000

Wednesday, September 25, 2019

According to a new study carried out by Instant Factoring on micro-enterprises in Romania (companies with a turnover of up to EUR 500,000) has found that these firms have continued on a steady growth trajectory: in 2018, there were 524,900 active companies – 2.5 percent more than the previous year. They achieved a total turnover of RON 129 billion and a profit of RON 27.5 billion (21 percent of the turnover and an average of RON 52,390 per company), while 72 percent of the consolidated ...

Vodafone Romania appoints new finance Director starting December

Wednesday, September 25, 2019

Marius Corcoman joins Vodafone Romania as Finance Director and member of the executive management team, reporting to Vodafone Romania’s CEO, Murielle Lorilloux, effective December 2019. Marius Corcoman will replace Sibaji Biswasb who decided to ...

Holde Agri Invest closes first round of financing raising EUR 5 million from Romanian investors

Wednesday, September 25, 2019

Holde Agri Invest, a Romanian agricultural company operating farmland, announces that it has successfully closed its first round of financing, during which it has raised EUR 5 million from a number of notable local investors and investment funds. The money raised during the transaction will be directed into extension of the farming land operated by the company, purchase of farming equipment and the development of the team. Among the investors who participated in the first round of ...

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