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IKEA Pallady, officially opened

Wednesday, July 3, 2019

The second IKEA store in Romania has opened its gates, welcoming the first customers on the beats of “We will rock you” hit on Monday morning, June 24. This is the largest IKEA store in Southeastern Europe and the 431st one in the world. “We are happy to continue our journey here in Romania, and to celebrate today the opening  of IKEA Pallady, the largest IKEA store in Southeastern Europe and the second one in Romania. We are ...

Insolvencies down by over 28pct, Jan.-May 2019, to 2,636

Wednesday, July 3, 2019

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The number of companies and individuals facing insolvency declined by 28.49 percent in the first five months of 2019 compared to the same period of 2018, to 2,636 insolvencies, according to data posted on the website of the National Companies Register Office (ONRC).Most of them were in Bucharest, 468, down 36.5 percent from the same period of 2018. The ranking continues with the counties of Bihor, 211 insolvencies (-10.97 percent), Constanta, 147 (-24.23 percent) ...

Regina Maria, McCann PR & McCann Bucharest win Silver award at Cannes Lions 2019

Wednesday, July 3, 2019

The “Internet’s residency exam”, the Regina Maria Health Network’s campaign created along with McCann PR and McCann Worldgroup, has won a Silver award in the PR category at Cannes Lions 2019. The category recorded 1,857 entries from 67 countries, of which 242 arrived on the shortlist announced one evening before the award ceremony. “We boldly – some would even say insanely – approached an idea that could only ...

FIC elected a new Board of Directors

Wednesday, July 3, 2019

The Foreign Investors Council – FIC elected on 13 June its new executive team after having had elections for a new Board of Directors at the end of May. Ramona Jurubi??, Country Managing Partner KPMG Romania ...

The Renault Romania group will inaugurate the new headquarters in Bucharest on 28th June

Wednesday, June 26, 2019

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The Renault Romania group will inaugurate on 2th June its new headquarters in Bucharest, in the presence of Viorica Dancila as well as Thierry Bollore, CEO of the Renault Group, stated on Wednesday for News.ro Christophe Dridi, general manager of Automobile Dacia and of Groupe Renault Romania, while mentioning that all 3,200 employees in the capital city will work in the same place. ‘We have a new headquarters, which is at the metro station ...

The Competitiveness  Council won definitely in the court the trial with Parmalat Romania

Wednesday, June 26, 2019

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The High Court of Cassation and Justice (ICCJ) confirmed definitely the breach of law of competence by Parmalat Romania, shows a press release of the Competitiveness  Council.The Competitiveness Council showed that Parmalat took part in an anti-competition agreement with the purpose of fixing prices between retailers and their suppliers.At the same time, the High Court mentioned the fine applied to the company worth 269,852 lei (61,330 euro).In ...

OTE to increase capital of Telekom Romania Mobile Communications by EUR 800 million

Wednesday, June 26, 2019

Hellenic Telecommunications Organization (OTE), the owner of the Telekom Romania group, decided at the general shareholders’ meeting in April to increase the capital of Telekom Romania Mobile Communications by EUR 800 million (RON 3.71 billion), meaning 371.87 million shares at the nominal value of RON 10. The shareholders of the mobile division of Telekom Romania are OTE with 70 percent of shares and Telekom Romania with 30 percent, while a few ...

R22 to take over Romanian producer of e-commerce solutions

Wednesday, June 26, 2019

Polish company R22, which has already bought several web hosting companies in Romania reaching a market share of about 25% on this market, will take over the Cluj-Napoca-based Blugento, a provider of e-commerce solutions based on the Magento platform. The transaction will be carried out in several stages out if which the first stage will involve an investment of about EUR 1 million, ...

Dacia-Renault: Auto industry accounts for 14 pct of Romania’s GDP and 26 pct of exports

Wednesday, June 26, 2019

The auto industry is one of the most important economic forces in Romania, with a contribution of 14 percent to the GDP and 26 percent to exports, said Christophe Dridi, the general manager at Automobile Dacia and Groupe Renault Romania, during a CCIFER conference on last Wednesday. “The Romanian car industry represents 14 percent of GDP and contributes 26 percent to exports. It is the largest industry in Romania, one of the country’s main ...

Regina Maria acquires Genetic Center labs in Bucharest and Cluj

Wednesday, June 26, 2019

Private healthcare network Regina Maria has announced that it would take over Genetic Center, a medical lab chain specialised in genetic tests, with centers in Bucharest and Cluj and harvesting points in several Romanian cities. The Cluj Genetic Center was opened in 2009 and was the second genetics lab in Romania. The Bucharest center was opened in 2016, following a research project related to male infertility. Currently, this lab provides pre- and ...

GapMinder Venture Partners BV decided to give EUR 50,000 funding to 2 new startups

Wednesday, June 26, 2019

GapMinder Venture Partners BV decided to give an additional EUR 50,000 funding to 2 new startups, part of the Techcelerator program. Seven of the startups in the program were present on Upgrade 100 stage for a pitching session and 2 of the Techcelerator’s alumni held presentations to get an additional round of investment. During the Demo Day event, xVision from Timi?oara, one of the Techcelerator alumni got a new round of investment totaling EUR ...

Oracle recorded total revenues of USD 39.5 billion in fiscal year 2019, up 3 percent

Wednesday, June 26, 2019

Oracle Corporation announced 2019 Q4 fiscal results and fiscal 2019 full year results, http://business-review.eu reads. Total Quarterly Revenues were USD 11.1 billion, up 1 percent in USD and up 4 percent in constant currency compared to Q4 last year. Cloud Services and License Support revenues were USD 6.8 billion, while Cloud License and On-Premise License revenues were USD 2.5 billion. Total Cloud Services and License Support plus ...

Georges Durdilly, appointed Head of Airbus Romania

Wednesday, June 19, 2019

Georges Durdilly, a former French Army combat helicopter pilot, has been appointed as Head of Country for Romania, replacing in this role Serge Durand who has retired. Durdilly, aged 60, will represent Airbus as one company towards the country’s key stakeholders, and support the development of commercial operations. Georges Durdilly will also hold the position of General Manager at Airbus Helicopters ...

Endava opens two new software centres in Timisoara and Brasov

Wednesday, June 19, 2019

Endava, one of the 5 biggest software companies in Romania by 2018 turnover (RON 501.8 million) has announced the opening of two new offices in Timisoara and Brasov, reaching a total of seven development centres in Romania. Its five existing offices are in Cluj-Napoca, Iasi, Bucuresti, Pitesti and Targu-Mures. The company had over 2,790 employees in Romania at the end of March 2019. It has already started to recruit more people in areas like software ...

Alina Stavaru, promoted partner at RTPR Allen & Overy

Wednesday, June 19, 2019

After 10 years of dedicated business activity and dozens of successful M&A projects, particularly Private Equity, complex corporate projects and Employment and Benefits, Alina Stavaru receives official recognition being promoted Partner within RTPR Allen & Overy, joining by that the team of five partners: Costin Taracila, Victor Padurari, Alexandru Retevoescu, Mihai Ristici and Valentin Berea. "It's a first ...

Neogen Group buys stake in boat rental marketplace Sailo.com

Wednesday, June 19, 2019

Neogen Group, the parent company of several brands including BestJobs and Vivre, has acquired a 9.4 percent stake in Sailo.com, a boat rental marketplace founded by a Romanian entrepreneur in the US and active in over 100 countries in North and South America, Europe and Asia. Sailo’s post-investment market cap reaches USD 9 million. Neogen is thus entering the still small, but highly dynamic boat rental market, which is expected to reach a value ...

Romania Blockchain Summit to take place on June 21-22 in Bucharest

Wednesday, June 19, 2019

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Romania Blockchain Summit promises to be one of the most important conferences dedicated to innovative technologies in the South-Eastern European region, bringing together the public sector, political decision-makers, developers, researchers, global entrepreneurs, leaders and innovators.  Business Review is happy to announce that our Editor-in-Chief, Sorin Melenciuc, will host one of the conference panels – “Blockchain as an ...

OLX reports 43% higher earnings in 2018

Wednesday, June 19, 2019

OLX, the largest online classifieds platform in Romania, reported its net profit margin hit roughly 25% in 2018. Last year, OLX introduced much stricter limits for publishing free ads for selling electronics and home appliances. OLX.ro attracts about 700,000 to 1,000,000 unique visitors a day. Its turnover crossed the RON 100 million (EUR 22 mln) threshold for the first time in 2018 when it reported the largest net profit so far ...

MAS RE shifts focus from Western to central and Eastern Europe

Wednesday, June 19, 2019

South African developer and real estate investor MAS RE, which owns and develops, in partnership with Prime Kapital, 12 real estate projects in Romania, decided to exit the Western European markets to focus on the Eastern markets, particularly ...

Kaufland launches new hypermarket concept in Romania

Wednesday, June 19, 2019

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German retailer Kaufland revamped its store on Soseaua Colentina in Bucharest and brought there a new concept of hypermarket that offers clients “a completely modernized shopping experience inspired by shopping malls.” The revamping process increased and diversified the store’s offer, which now includes a Sushi Bar, a Fresh Bar and a Sandwich Bar, as well a self-service bar and new assortments of fresh products ready to serve. The ...

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