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Regina Maria takes over 4 Hiperdia centers in a transaction imposed by Competition Council

Wednesday, September 5, 2018

Affidea, formerly Euromedic, has transferred four of the 23 Hiperdia diagnostic centers in Romania, taken over last year in a conditional transaction Competition Council (CC) imposed, to the Regina Maria health network, http://business-review.eu reports. Affidea is controlled by Swiss billionaire Ernesto Bertarelli, and the sold clinics are from Arad, Orastie and Cluj-Napoca ...

Swiss Ameropa to buy a base of Comcereal Fundulea

Wednesday, September 5, 2018

Swiss Ameropa Group, the owner of Azomure, prepares to acquire the Sarule?sti base from Comcereal Fundulea, company controlled by Constantin Dumitru, in a deal estimated of around EUR 3-4 million, http://business-review.eu reports. The base includes a total land area of almost 86,000 sqm, warehouses, silos, dwellings and offices. Ameropa, one of the largest grain traders and chemical ...

Fondul Proprietatea, still not willing to invest in the Romanian Post

Wednesday, September 5, 2018

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Johan Meyer, Fondul Proprietatea (FP) Portfolio Manager and CEO of Franklin Templeton Investments Ltd, has stated on Tuesday during the press conference following FP’s General Shareholders Meeting that FP is still not willing to invest the Romanian Post company, while contesting the capital increase, arguing „they have not been presented with a credible plan to develop the business”, romaniajournal.ro reports. In March this year, the ...

ONRC: 48,532 companies radiated between Jan. -July of 2018, up 2.04pct

Wednesday, September 5, 2018

The number of radiated companies increased by 2.04 percent in the first seven months of 2018 compared to the same period of 2017, reaching to 48,532, according to the statistics of the the National Trade Register Office (ONRC).Most of the radiations were registered in Bucharest - 7,500 companies (9.29 percent less than the first seven months of 2017), and in Cluj - 2,063 (minus 8.07 percent), Timis - 1,981 (plus 11.04 percent) and Iasi - 1,951 (minus 5.29 ...

Competition Council starts probing into the market of non-prescription medicines and food supplements

Wednesday, September 5, 2018

The Competition Council has launched an investigation into the production and sale of non-prescription medicines and of food supplements, romaniajournal.ro informs. The inspectors will probe into the structural conditions of the markets, the existing contracts in this sector, while also conducting a detailed analysis of the enforceable legislative framework. If malfunctions which affect the competition environment are identified, the Council will ...

Business Environment Ministry launching online Business Romania platform to promote Romanian companies

Wednesday, September 5, 2018

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The Business Environment Ministry launched on Thursday the online Business Romania platform, where business people and companies can join and interact to exchange information and create partnerships, Paula Pirvanescu, senior official with the Ministry of Business Environment, Commerce and Entrepreneurship (MMACA), said Thursday.She attended the opening of the International Business Forum, which takes place at Parliament Palace in Bucharest, August ...

Immofinanz reports EUR 23.6 mln rental income in Romania

Wednesday, September 5, 2018

Austrian real estate investor Immofinanz’s rental income in Romania totalled EUR 23.6 million, which represents 19.8 percent of total rental income at group level, in the first half of the 2018 financial year, http://business-review.eu informs. The company’s properties in Romania have a value of EUR 807.7 million and represent 19 percent of the company’s total ...

ONRC: Insolvencies drop by 2.39pct, suspensions up 25.98pct, dissolutions up 35.33pct, Jan.-July, 2018

Wednesday, August 29, 2018

Commercial and individual insolvencies in Romania dropped by 2.39 percent in the first seven months of 2018 from the same period of 2017, to 5,237, according to data posted on the website of the National Trade Registry Office (ONRC).Most of the insolvencies, or 1,034, were reported in Bucharest city, down 13.33 percent over the same period of 2017. The count continues with the counties of Bihor - 349 insolvencies (+ 17.91 percent); Iasi - 286 (-14.63 percent); ...

Six economic sectors in Romania shrank by over 50 pct in the last decade

Wednesday, August 29, 2018

An analysis by Iancu Guda, the president of the Association of Financial-Banking Analysts in Romania (AAFBR), shows that holding activities is the economic sector in Romania that had the largest drop in revenues in the past decade, of over 70 percent, reaching just RON 149 million, http://business-review.eu informs. The sectors with the second largest drop in revenues are construction demolitions and the growing ...

Bucharest airports posts 19 pct increase of operational profits in H1

Wednesday, August 29, 2018

The National Company Bucharest Airports (CNAB), the administrator of airports Baneasa and Henri Coanda, said it recorded a turnover of RON 425 million (EUR 91.6 million) in the first semester, up 10 percent compared to the same period of last year, http://business-review.eu informs. In the same period, the operation profit grew by 19.1 percent to RON 269.3 million (EUR 57.9 million). The company said the result ...

Deloitte CIO Survey: The interest in emerging technologies is growing in Romania

Wednesday, August 29, 2018

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According to Deloitte’s CIO Survey, the demand for cyber security specialists and data analysts is growing. In Romania, both local companies and service centers of major global corporations are competing for these two types of resources. Over one third of the respondents build their budgets in Euro, and almost half of them are based in Europe, the survey said. Moreover, approximately 10 percent of the organizations surveyed differentiate ...

INSOLVENCIES ARE THE MINIMUM LEVEL OF THE LAST TEN YEARS, BUT THE LEVEL OF LOSSES GENERATED TO CREDITORS IS CLOSE TO THE MAXIMUM IN THE LAST DECADE

Wednesday, August 29, 2018

The number of large companies with the turnover over EUR 1 M becoming insolvent registered a growth of almost 5%, reaching 189 insolvent companies in the first semester of the current year. Increasing insolvency among large companies is a systemic problem as they spread greater financial and social shock in the already highly polarized business environment. Although the number of insolvencies registered in the first semester of the current year is at the lower level of the ...

Gral Medical H1 revenues up 24 pct to 71 ml lei

Wednesday, August 29, 2018

 H1 revenues of privately-owned medical services group Gral Medical amounted to 71.1 million lei, up 24 percent compared to the same period of the previous year, and past budget projections based on an organic growth of 20 percent.All service categories saw double-digit growth, while growth for Gral Laboratories and the OncoFort Hospital was above initial estimates at 27 percent and 30 percent, respectively, compared to the year before. The Gral Laboratories ...

Investments doubled Carmistin Group’s profits in the first six months of 2018

Wednesday, August 29, 2018

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After hefty investments in new production capacities and technology, Carmistin’s Group EBITDA rose significantly in H1 2018, says a press release from the company quoted by http://business-review.eu. Carmistin Group, one of the biggest players in the Romanian agribusiness sector, owned by the Paraschiv family, consists of more than 10 companies including Avicarvil, Avicarvil Foods, Avirom, Porcellino and Pajo Holding. The group registered an operational profit of over ...

Valcov: Draft ordinance on tightening insolvency legislation, under discussion at Government

Wednesday, August 22, 2018

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Darius Valcov, Prime Minister's economic advisor, has announced that a draft ordinance on tightening of the legislation for insolvency filing is under discussion in the Government.He told Antena 3 TV station that the tax amnesty is "being done," "it is not discussed," and if a decision is made in this respect, it was however included in the governance program. "In terms of insolvency - it is a compulsory and there is a draft discussed in the Government, so that in ...

Romaero says it could become profitable next year

Wednesday, August 22, 2018

State-owned company Romaero Bucuresti, which specializes in production, services and R&D services in the field of aeronautics for the civil and military sector, both for pasengers and freight, reported losses of RON 14.13 million in the first semester, http://business-review.eu reads. This is half the amount approved as ...

Dent Estet reported EUR 4.8 mln turnover in H1 2018 

Wednesday, August 22, 2018

The Dent Estet Clinic Group, owned by MedLife, reported a 15 percent increase in turnover in the first half of 2018 compared to the same period last year, reaching EUR 4.8 million, http://business-review.eu reports. ”The results achieved by Dent Estet in the first half of 2018 confirm its position as the absolute leader in the ...

Farmec posts 10 pct year-on-year turnover growth for the first half of 2018

Wednesday, August 22, 2018

Farmec, the largest Romanian cosmetics manufacturer, ended the first half of 2018 with a turnover of RON 116 million (around EUR 25 million), a 10 percent growth from the same period of 2017, http://business-review.eu informs. The growth was sustained mostly by the 67 percent higher sales in the brand store network, as well as their online sales, which had a 16 percent increase compared to the first half of ...

Romania’s ASF looks into IPO of Digi Communications after PM counselor comment | Company accuses “defamation campaign”

Wednesday, August 22, 2018

The Romanian Financial Supervision Authority (ASF) said it started an investigation after Darius Valcov, PM counselor and a close ally of PSD head Liviu Dragnea, claimed that pension funds bought shares in Digi Communications although the company was criminally prosecuted, http://business-review.eu informs. The ASF said that the listing prospectus of Digi Communications was approved in The Netherlands and the ...

IBM nominates a new country manager for the Romanian branch

Wednesday, August 22, 2018

The American giant IBM nominated Mitka Avramova as country manager for the Romanian branch,announced the company in a press release sent on Monday.Avramova was formerly the Chief Operating Officer (COO) of the Romanian branch and in  her new position she will be responsible for all the activities which concern clients in Romania, covering the whole portfolio of IBM products and services for the activity on a local plan. According to ...

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