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Economic

Study: Food service market will double to 20 billion lei in 2021

Tuesday, December 15, 2020

The food and drink service market ( standards restaurants, fast food, coffee shops, pubs and supermarkets) will double in 2021 to 20 billion lei, double against 2020 and on the drop by 20% against 2019, according to estimates of Hospitality Culture Institute.   “The main growth vectors of the food service market in 2021 will be developing delivery and take away services and opening interior areas ...

COVID-19 is changing consumer behavior worldwide; business needs to adapt rapidly

Tuesday, December 15, 2020

COVID-19 is having a lasting, worldwide impact on consumer needs, preferences and behaviors, according to a new report from KPMG International, “Responding to consumer trends in the new ...

Agriculture: Slaughters in sheep, goats increase in October

Tuesday, December 15, 2020

The number of slaughters in sheep and goats increased in October this year compared to the same period in 2019, while in the case of cattle, pigs and poultry there were decreases, according to the data made public on last Wednesday by the National Institute of Statistics (INS).At the same time, during the analyzed period, the carcass weight increased in sheep and goats, decreased in cattle, pigs and poultry.Official statistics show that, in ...

Agriculture: În wine industry, 550 companies generate revenues of EUR 370 mln per year

Tuesday, December 8, 2020

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Romania is one of the biggest wine producers in Europe and worldwide. However, the country is far from being a global or European powerhouse when it comes to its wine industry.In 2019, Romania produced 4.1 million hectoliters of wine, ranking sixth in Europe and among the top 15 wine producers in the world.   Meanwhile, the 550 companies in the local grape and wine industry recorded a combined turnover of ...

More than 6.37 million lei pay as state aid in livestock breeding sector

Tuesday, December 8, 2020

The Agency for Payments and Intervention for Agriculture (APIA) announces the authorization of the amount of over 6.37 million lei for the payment of state aid in the livestock breeding sector, following the applications submitted in October and related to services provided in September and in the third quarter of the year.According to a press release sent by APIA, the payments will be made through the county centres of the Agency.The total ...

Over 731,000 farmers receive the OK for disbursement of advance payments for 2020 Campaign

Tuesday, December 8, 2020

Over 731,000 farmers received the Agency for Payments and Intervention in Agriculture's OK for the disbursement of the advance payment for the 2020 Campaign; a total of 1.43 billion euros has been approved for payment, the Agency informs."The Agency for Payments and Intervention in Agriculture (APIA) informs having completed the advance payment campaign for the beneficiaries who filed a single payment application in 2020. In accordance with the Commission's ...

Tourism : Arrivals in tourist accommodation units, 54.4 pct decrease in October

Tuesday, December 8, 2020

Compared to the corresponding month of the previous year, the arrivals in the establishments of tourists’ reception with functions of tourists’ accommodation decreased by 54.4%, while the overnight stays decreased by 54.8% in October 2020. Compared to October 2019, in October 2020 customs registered a decrease in the arrivals of foreign visitors of 65.4% and a decrease of 57.3% in the departures abroad ...

Trade: EBRD: Romanian retailers are ready for the start of the holiday shopping season

Tuesday, December 8, 2020

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EBRD, EIAH and EU help small businesses go online through pilot initiative When Albin Maior started producing socks ...

Jan - Oct retail turnover up 2 pct YoY in unadjusted terms

Tuesday, December 8, 2020

Romania's retail turnover (except for trade in motor vehicles and motorcycles) over the interval January - October 2020 was 2 percent up from the same period of the year before in unadjusted terms, and 1.9 percent higher as workday and seasonally adjusted series, the National Institute of Statistics (INS) informed.The 2 percent YoY growth as raw series was the effect of the 5.7 pct advance in sales of food, beverages and tobacco, and of the 4.9 pct increase in ...

Telecom. IT: Report: Romanian internet users spent less time on PCs and tablets in H1 2020

Tuesday, December 8, 2020

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Internet users in Romania spent less time on PCs and tablets in the first half of 2020, compared to the same period last year, despite the coronavirus pandemic and the restrictions it brought with it, according to the Global Media Intelligence Report. On the other hand, the mobile time has increased.   Romanian internet users spent 4 hours daily on PCs and tablets in H1 2020, down from 4 hours and 20 minutes in the same ...

Authorities to organise 5G auction in Q2 of 2021

Tuesday, December 8, 2020

ANCOM (telecom market regulator) published on December 4 for public consultation its action plan for 2021.According to the document, it wants to organize the auction for 5G frequency bands in the second quarter of ...

Infrastructure: 15 bidders for most difficult section of Sibiu-Pitesti motorway

Tuesday, December 8, 2020

Some 15 bidders compete to get the contract for the construction of the third section of the Sibiu-Pitesti motorway in Romania, estimated at RON 5.3 billion (EUR 1.1 bln).   Among them, there are construction companies from China and Turkey, as well as Astaldi, Strabag, and Aktor - companies already involved in local projects, according ...

Air France, KLM maintain flights from Bucharest to Amsterdam and Paris, this winter

Tuesday, December 8, 2020

Air France and KLM airlines will continue to operate flights from Bucharest to Paris and Amsterdam, and back, this winter, reads a press release of the Group formed by these two companies.Thus, Romanian passengers have at their disposal four weekly flights linking Bucharest to Paris and two daily flights between the Romanian Capital and Amsterdam, which ensures a minimum of connectivity with the most important university and business centres.Ticket ...

Real Estate: Colliers: Three effects of the pandemic on the housing rental market in Bucharest

Tuesday, December 8, 2020

More than half (55%) of Bucharest residents currently living on rent do not plan to buy an apartment next year and want to continue renting, according to a recent study conducted by Unlock Research for Colliers International, leader in the Romanian residential evaluation and consultancy market with nationwide analyzed residential properties worth over 15 billion euros in the last three years alone. However, 45% of them consider changing their rented ...

Buyers' own funds - financing source for 69 pct of post-emergency property purchases

Tuesday, December 8, 2020

Funding for roughly 69 percent of the real estate transactions concluded from June 2020 to date came from the buyers' own resources and only 31 percent were financed from loans, found a RE/MAX survey conducted based on its nationwide network intermediation deals.The typical real estate buyers in the reporting period were individuals or families with pre-approved loans or liquidity, who sought larger homes. Single-family homes are currently the most attractive ...

The occupancy costs of office spaces represent 3-4 pct. of the turnover of services companies in Bucharest

Tuesday, December 8, 2020

The occupancy costs of office spaces represent, on average, between 3 and 4 percent of the turnover of services companies in Bucharest, and they may fall even below 2 percent, in some cases, according to an analysis of the real estate consultancy company Cushman & Wakefield Echinox.   The analysis takes into account the results from 2019 achieved by companies in various fields, such as software development, advertising ...

Cars: New car registrations in Romania, down 25.3% in first 11 months

Tuesday, December 8, 2020

The number of new car registrations in Romania decreased by 25.3% in the first 11 months of the year, compared to the same period in 2019, while in the used segment the decline was 15%, at comparative level, according to an analysis of the Association of Automobile Makers and Importers (APIA), based on the statistics of the Driving Licences and Vehicle Registration Directorate (DRPCIV).According to the data centralized by APIA, between January and November 2020, ...

Healthcare: First batch of OROSTIM-HV immunomodulatory product, launched by Cantacuzino Institute

Tuesday, December 8, 2020

The Cantacuzino Institute is launching the OROSTIM-HV immunomodulatory product, which will be available for purchase starting December 2, at the retail point of the Institute on Splaiul Independentei 103, the National Defence Ministry (MApN) informs.A press conference on the launch of the first batch of the product will take place at the Cantacuzino National Military - Medical Institute for Research - Development. Prime Minister Ludovic Orban and National Defence ...

Real Estate: Rental income increases 5.7% in Q1-3 2020, FFO 1 10.1% over previous year

Tuesday, December 1, 2020

IMMOFINANZ recorded an increase in rental income and in the results of asset management and property sales during the first three quarters of 2020 despite the Covid-19 crisis. FFO 1 (before tax) was only slightly lower than the previous year at EUR 89.2 million. After an adjustment for the straight-lining of a bond coupon payment in Q1 2020 over 12 months, FFO 1 improved by 10.1% to EUR 92.4 million.  The capital measures carried out in ...

Trade: Retailers, pharmaceutical chains reportedly fined in Romania for selling non-compliant masks

Tuesday, December 1, 2020

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Some of the largest retailers and pharmacy chains in Romania are on the list of companies fined for selling non-compliant masks, according to a report of the National Authority for Consumer Protection (ANPC) obtained by ...

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