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Crisis in the labour market: 10,000 workers from outside the EU in Romanian restaurants in one year

Wednesday, October 24, 2018

The number of workers from outside the European Union in local restaurants will exceed 10,000 within a year, Daniel Mischie, CEO of the restaurant group City Grill, estimated in an interview ...

Sanjeev Gupta, the Indian businessman who buys Sidex Galati

Wednesday, October 17, 2018

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The British group Liberty part of the World Alliance GFG belonging to the business man Sanjeev Gupta announced on Friday 12 October an agreement for the purchase of four siderurginal units in Europe: the Czech Republic, Skopie, Italy and Sidex Galati. Sanjeev Kumar Gupta, a businessman of Indian origin, is the founder and CEO of the company Liberty House, which had in 2017 a turnover of almost 15 billion Dollars. He also  leads GFG (Grupta Family Group), with over 14,000 ...

Epta takes over Romanian commercial refrigeration suppliers

Wednesday, October 17, 2018

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Italian group Epta, which specializes in commercial refrigeration services, has purchased a majority stake in Romanian company Daas, a supplier of commercial refrigerators and one of the biggest suppliers in the local HoReCa sector, according to an official announcement. Following this deal, Epta will control 90% of Daas and local investors Lucian Negroiu and Daniel Mocanu will hold 5% each. Daniel Mocanu founded the company 25 years ago and has been managing it as general ...

Bosch moves service center in Timisoara to new office building

Wednesday, October 17, 2018

Bosch Service Solutions, the local BPO (business process outsourcing) division of German group Bosch, has moved its center in Timisoara to the ISHO office project. Located in the center of the city, the project has been developed by Mulberry Development, a company controlled by local investor Ovidiu Sandor. Bosch has leased 6,600 sqm of office space on four floors and has invested about EUR 1 million in furnishing the new offices, which will accommodate about 850 work ...

Only one Romanian company in Deloitte’s Fast 50 ranking 2018

Wednesday, October 17, 2018

Only one Romanian company was included this year in Deloitte’s Technology Fast 50 Central Europe ranking of the most dynamic IT companies in the region, down from three in 2017, four in 2016 and ten in ...

Saint-Gobain reopened the EUR 5 mln. Fiberglass mineral wool from Ploiesti

Wednesday, October 17, 2018

The Saint-Gobain Group in Romania announces the resumption of production at the Fiberglass mineral wool line at the Isover plant in Ploiesti, following an investment of EUR 5 million, http://business-review.eu reports. After a massive technological upgrading, the glass fiber mineral fiber production line re-opened in August almost two years after the temporary cessation of activity, creating 50 new direct jobs and ...

Medicover completes acquisition of Phoenix Medical Center

Wednesday, October 17, 2018

Medicover has completed the acquisition process of the Phoenix Medical Center, a network of eight private medical units offering services in the Oltenia area, http://business-review.eu/ informs. As a result of this transaction Medicover expands its presence in a region with a high potential for growth. This is the third largest transaction of the Swedish group in Romania this year after the Pelican Hospital in Oradea ...

Jumbo reaches EUR 100 million in sales in Romania

Wednesday, October 17, 2018

Greek toys and decorations retailer Jumbo increased its sales in Romania by more than 53 percent in the fiscal year ended on June 30, up to EUR 100.6 million, http://business-review.eu reports. Its Romania activities contributed to about 13.4 percent to the group’s sales. In the 2017-2018 fiscal year, ended in June, Jumbo had a pre-tax profit of EUR 33.45 million – almost 58 percent higher than the profit ...

Women make up slightly more than a third of Romanian shareholders

Wednesday, October 17, 2018

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According to data from the National Trade Registry Office (ONRC), there were 496,970 women who were shareholders or associates in Romanian companies – a 37.23 percent share of the total shareholders in the country. In the 904,337 companies in Romania, 837,976 shareholders were men. In terms of regions, the data showed that Tulcea County had the highest share of women shareholders, with 41,25 percent (of the 6,996 companies), while the lowest number of female ...

Number of newly set up foreign capital companies down 5.14 pct, 8 months in

Wednesday, October 17, 2018

 The number of newly set up companies running on foreign capital in Romania went down by 5.14 percent in the first eight months of 2018, compared with the same period of the previous year, to 3,748 units, according to data with the National Companies Registry Office (ONRC).The 3,748 new companies had a paid-up capital of more than 38.8 million US dollars, up 13.8 YoY.According to ONRC, there were 411 startups running on foreign capital, founded in August, most of ...

PwC Survey: No authority in place in Romania directly tasked with coordinated implementation of economy digitization strategy

Wednesday, October 17, 2018

Romania doesn't have an authority in place that is directly responsible for the coordinated and consistent implementation of the economy digitization strategy, concludes a Survey on national digital governance by PricewaterhouseCoopers (PwC) presented on Thursday at a specialist conference organized by the Romanian Banks Association. According to the document, the implementation of digital governance has been negatively influenced by existing legislation gaps, as national ...

Policolor will double production capacity with new factory

Wednesday, October 17, 2018

Policolor, one of the biggest varnishes and paints producers in Romania, will increase its production capacity 2.3 times with the opening of a new factory in Western Bucharest. The new unit, which requires an investment of EUR 5.4 million, should be completed in April 2019. It will be located on a land plot of 2.5 hectares on Timisoara Boulevard, in the western side of the city. The new factory will increase the company’s production capacity from 11,000 tons to 26,000 ...

Over half of the biggest 100 SEE companies are from Romania

Wednesday, October 17, 2018

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Romania has 51 companies in the ranking of the biggest 100 companies in Southeastern Europe (SEE), based on 2017 revenues, romania-insider.com informs. Slovenia has 13 companies, Serbia has 12, Croatia – 11, Bulgaria – 10, Bosnia – 2 and Macedonia – 1. Romanian car maker Dacia maintained its top spot in this ranking, with a turnover of EUR 5.02 billion, up by 12% compared to 2016. Dacia has been first in this ranking ...

Delphi Technologies, big producer of auto parts, opens an IT centre in Bucharest

Wednesday, October 10, 2018

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A company producing propulsion systems for the automotive industry -Delphi Technologies opened the first IT center in Bucharest, with 150 employees, which will provide services for the company's technology centers, factories and support service divisions of the company. "The Bucharest team will develop innovative technical solutions and services to support more than 20,000 employees worldwide," said Edward Mandic, Vice President and Chief Information ...

The business people in Hong Kong interested in the IT&C sector in Romania

Wednesday, October 10, 2018

The business people in Hong Kong are interested by the IT&C of Romania state the officials of the Chamber of Commerce and Industry of Bucharest (CCIB) which organised in the capital city an economic mission to facilitate an exchange of ideas and information.The economic  mission organised by the Chamber of Commerce Hong Kong of China (HKCCC) was led by Warren Law, executive manager of COV Capital Group, investment company with offices in Beijing Hong ...

Report: About 1.5pct of Romania's economically active population work in outsourcing industry

Wednesday, October 10, 2018

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The outsourcing industry is employing approximately 125,000 persons in Romania, which is about 1.5 percent of Romania's economically active population, according to the annual report of the Association of Business Service Leaders Romania (ABSL) released on Tuesday at the sixth edition of the ABSL annual conference "Romania at the Forefront of Innovation".The study conducted by ABSL together with KPMG estimates that the outsourcing industry generated revenues of ...

Dacia increases production in Romania by 4.6 pct in Jan-Sep to 242,602 cars

Wednesday, October 10, 2018

Romanian carmaker Dacia, controlled by French group Renault, has increased its production at the local plant in Mioveni by 4.6 percent in the first nine months of this year compared with the same period of 2017, up to 242,602 vehicles, according to the Association of Automobile Constructors in Romania (ACAROM) quoted by http://business-review.eu. The model with the highest production was Dacia Duster (166,087 units), followed by Dacia Sandero (35,371 ...

Romania is losing its lohn auto and textiles companies în favour to Republic of Moldova, Macedonia or Serbia

Wednesday, October 10, 2018

The companies working in a lohn system have started to leave Romania, and they are choosing The Republic of Moldova, Macedonia or Serbia, says Valentin Malaescu, the CEO of packaging and relocation company Modpack. He believes that under the current wage pressures, in 5-10 years Romania’s lohn industry in automotive and textiles will no longer be competitive.  ”There are many signals that factories working in lohn, generally in the ...

Study: Romanian companies lower forecast regarding turnover, profit and investment in 2018

Wednesday, October 10, 2018

Romanian companies have adjusted downward their estimates regarding turnover, profit and investment in this year as a consequence of higher costs and difficulty to find workers, according to a study released by Valoria. The study is based on answers from 475 managers operating in 14 major sectors. According to the study, 29 percent of companies expect their turnover to increase by 5-10 percent this year against 2017, while 30 ...

Statistics: 1.7 mln people work in agriculture to produce 4.4 pct of GDP while the 200,000 employed in IT&C add over 5 pct to national income

Wednesday, October 10, 2018

Romania’s workforce is severely unbalanced as more than 1.7 million people work in agriculture with very low productivity, while other 200,000 contribute more to the gross domestic product (GDP) by working in high value-added IT&C sector. According to an official report released by the National Institute of Statistics, 1.74 million people, representing 20.8 percent of Romania’s total workforce (8.37 million), worked in agriculture at ...

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