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Grandstream enters Romanian market after signing for distribution with Macro International

Wednesday, September 25, 2019

Grandstream, an American company specialized in providing telecom solutions, announces its entry into the Romanian market through Macro International Distribution, which thus becomes the only official distributor for the United States manufacturer’s unified SIP and VoIP communications solutions. Thus, telecom solutions integrators, installation service providers and resellers throughout Romania have immediate access to all solutions in the Grandstream portfolio, without having ...

Kathrein, mobile communications antenna producer, invests in a new unit in Timisoara

Wednesday, September 25, 2019

Dunwell, the biggest Industrial Real-Estate agency in Romania, has assisted the German company Kathrein, specialized in antenna production for mobile communications, broadcast and ground reception, in opening a new 5,000 sqm production unit in Timisoara. In their new unit, Kathrein will produce antennas and telecommunication systems that will be sold both on the local and the global market. Kathrein owns another production unit in Timisoara, with ...

Over 2,600 companies with debts of over 1 million lei in 2018 may enter insolvency

Wednesday, September 18, 2019

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Over 2,600 companies may enter insolvency, according to a Veridio analysis that refers to companies identified in Government order 6/2019 with debts of over 1 million lei on December 31, 2018 which do not present notification on restructuring by September 30, 2019. The authors of the analysis say the competent fiscal body will request the beginning of the insolvency procedure in 60 days after February 8, 2020, according to law 85/2014. Companies that are in special ...

Survey: More than half of Romanian employees will demand a raise or look for a better-paying job by the end of the year

Wednesday, September 18, 2019

Over half of Romanian employees are planning to request a salary increase or look for a new job by the end of this year, with insufficient earnings as their main source of dissatisfaction, a survey conducted by online recruitment platform BestJobs shows. Six out of ten respondents stated that they were planning to actively seek another job, and another 7 percent were considering this possibility. A quarter of respondents said they would not look for another job, but if they received ...

IKEA posts losses in Romania in 2018

Wednesday, September 18, 2019

The revenues of Swedish furniture retailer Ikea in Romania rose by 8% in 2018 compared to 2017, to RON 680 million (EUR 146 million), Ziarul ...

More than 55pct of legal entities' associates/shareholders in Romania aged 30 to 49 yr old

Wednesday, September 18, 2019

Most of the shareholders or associates of the legal entities registered in Romania in July were between 30 and 49 years of age, representing 55.3pct of the total, according to the data released by the National Trade Register Office (ONRC).As many as 28.82pct of the associates/shareholders of the active legal entities in Romania (405,814 associates/shareholders) were aged from 40 to 49, while 26.49pct (372,954) were aged between 30-39 years. The ones aged between 50-59 years ...

Wetterbest to take over 100 percent of Cortina WTB

Wednesday, September 18, 2019

Wetterbest, one of the leaders of the local roofing systems industry and part of the TeraPlast Group, the largest Romanian manufacturer of building materials, has reached an agreement for the complete takeover of Cortina WTB, a manufacturer and distributor of metallic tile in the Oltenia area. As a result, Wetterbest increased its stake from 51 percent to 100 percent of the company’s capital. The transaction is to be finalized after obtaining the approval from the Competition ...

Romanian entrepreneurs showing interest in AI development over global growth

Wednesday, September 18, 2019

Entrepreneurs in the artificial intelligence (AI) field are building startups that aim to disrupt large swathes of the economy, ranging from healthcare to telecommunications, retail, finance and transportation. Some USD 1.9 billion worth of venture capital deals involving AI and machine learning companies had been carried out in Europe by the end of summer, already exceeding the funding raised last year.  Globally, AI-based startups from China and the USA have raised billions of ...

State Mint closes year with profit growing to 4 million RON

Wednesday, September 18, 2019

The State Mint Autonomous Administration closed 2018 with a profit of 4 million RON, an increase of 56.5 pct over the previous year when it obtained a profit of 2.55 million RON according to a report of the institution.The State Mint had a turnover of 72.2 million RON, an increase of 41 pct over 2017, when it reported a turnover of 51.24 million RON.The production sold was of 71.28 million RON. The operating income totalled 69.98 million RON. The labor costs totalled ...

Draft law on development of new SMEs through business accelerators and incubators approved by Gov't

Wednesday, September 18, 2019

The Romanian Government on Thursday approved the draft law meant to support the newly-established companies with the help of business accelerators and incubators, informed the Ministry for Business Environment, Trade and Entrepreneurship (MMACA).The draft laws says "the business accelerators" is the "programme carried out as part of the business incubator, which ensures residents a gradual access to financing sources, in order to help them launch a product or a service on the ...

The first MARC O ‘POLO store opens in Romania

Wednesday, September 18, 2019

Scandinavian retailer MARC O ‘POLO is opening the first store in Romania at Mall-Vitan in Bucharest on September 12. The store will host premium casual clothing for men and women, footwear and accessories. MARC O’POLO benchmark style is following the mindset of its founders: the freedom to be yourself. Set up in Stockholm in 1967, the brand is now comprising collections such as MARC O’POLO Modern Casual, MARC O’POLO DENIM, MARC O’POLO Shoes and ...

Cognizant Softvision accelerates expansion in Romania adding 500 new positions by the end of the year

Wednesday, September 18, 2019

Cognizant Softvision, a global leader in product engineering, is expanding its Romania operations to meet demand for its digital development and transformation solutions used by leading financial services, insurance, retail and travel, and other companies. At least 500 new positions are being added for creative technologist roles and are expected to be filled by the end of the year.  With approximately 1,700 employees now in Romania, Cognizant is already recognized as one of the ...

Commons opens its 3rd coworking space in Bucharest

Wednesday, September 18, 2019

Commons will open in October its third coworking space in Bucharest in the Victoria Business Park building owned by Immofinanz, located in Baneasa area. The new move strengthens the company’s position in the Bucharest office space market. The other two spaces operated by the Commons have already gained popularity among small and medium-sized companies in Bucharest, currently hosting over 250 members. Among the clients of the network are ...

Competition Council analyzes transaction by which Edenred Romania takes over companies of Benefit Group

Wednesday, September 11, 2019

The Competition Council announced on Tuesday that it would analyze the transaction by which Edenred Romania takes over Benefit Systems, Benefit Admin and Benefit Private Pension Broker. “According to provisions of the competition law (21/1996), this operation is an economic concentration exceeding the boundaries stipulated by law and is subject of control by Competition Council. The  latter will evaluate the economic concentration to ...

Reynaers Aluminum will invest 1.4 million euros in Romania in next five years

Wednesday, September 11, 2019

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Reynaers Aluminum Romania, part of the European aluminum solution group for constructions, announced on Thursday an investment plan of 1.4 million euros for the next 5 years for local expansion and development. “The latest action is the relocation of the new  headquarters, which includes a 200 square meters showroom, which supposes a total budget of over 500,000 euro,”a company press release reads. On a medium ...

Competition Council analyzes transaction by which Formel Dtakes over CPS SAS

Wednesday, September 11, 2019

The Competition Council announced on Thursday that it analyses the transaction by which the German company Formel D takes over the French company CPS SAS, service suppliers supporting vehicle and vehicle  part manufacturers to ensure the quality of their products. “According to the provisions of Competition Law (no.21/1996) this operation is an economic concentration that has to be authorized by the Competition Council. The competition ...

Shane Dowling returns as general manager of ALD Automotive Romania

Wednesday, September 11, 2019

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The operational leasing company  ALD Automotive announced on Thursday the nomination of the Irish Shane Dowling as general manager of  ALD Automotive Romania as of September 1. He had the same position between 2011 and 2016. At the same time, Dowling will continue to hold the position of regional   ALD Automotive manager for South-Eastern Europe, coordinating the activity of four countries, Romania, Bulgaria, Greece and ...

Elena Pap, CEO of Up Romania, appointed regional director within the French group

Wednesday, September 11, 2019

The CEO of Up Romania, Elena Pap, was appointed as regional director within the French group, supervising the businesses in Romania, Bulgaria, Moldova, Serbia and Greece. Elena Pap is the first female director of an international subsidiary within the group appointed to the executive board. Elena Pap takes over the duties from her predecessor, Julien Anglade, who recieved a new role within the executive board of the French ...

EY Romania appoints Alice Ivanovici as Partner in the Audit department

Wednesday, September 11, 2019

EY Romania has announced the appointment of Alice Ivanovici as the newest Partner in the company’s Audit department. Ivanovici has 17 years of experience in financial audit, of which 13 have been spent at EY. She specializes in audit for companies in the oil & gas, shared services and industrial products sectors. Over the years, Ivanovici has been involved in auditing major multinational companies which were listed on ...

Colliers International appoints Andy Hay as Head of EMEA Real Estate Management Services

Wednesday, September 11, 2019

Leading global commercial real estate services and investment management firm Colliers International announced the appointment of Andy Hay as its new Head of EMEA Real Estate Management Services (REMS), effective immediately. In this new role, Hay will focus on driving the continued growth and success of the firm’s REMS division, improving client experience, developing relationships and optimising its EMEA service delivery model. “I am ...

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