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More than 3,600 companies went insolvent in the first half of 2024, which translates into a 5.8% increase compared to the first six months of 2023 when a total of 3,401 company insolvencies were recorded, as per an analysis by insolvency specialist CITR.
Universum Events SRL, the company organizing tech events such as Bucharest Technology Week and GoTech World, ended 2023 with a turnover of RON27.7 million, up 39% versus 2022, as per finance ministry data.
How to Web Media SRL, the company organizing the How to Web tech conference, had a turnover of RON1.98 million in 2023, down 9% from 2022, as per finance ministry data.
New registrations of road vehicles for passenger transport increased by 17.3% in the second quarter of 2024 compared to the second quarter of 2023, data from the country’s statistics institute INS show on Monday (August 5, 2024).
Garanti BBVA, a bank part of Garanti BBVA Romania group, ended the first half of 2024 with net revenues worth RON319.6 million, up 30.6% from the year-earlier period, while net profit overshot RON78.2 million and assets totaled RON15.87 billion.
Law firm Filip & Company assisted the Portugal subsidiary of telecom group Digi in the sealing of a contract to acquire the shares issued by Carbonitel S.A.
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, has obtained the building permit for One Technology District, a project that will host the largest semiconductor R&D centre in the Southeast Europe, operated by German giant Infineon Technologies, a Frankfurt Stock Exchange-listed company and a global leader in semiconductors.
Swedish group OX2, one of the newly entrants on the local green energy market, has sealed its first sale agreement for a 99.2 MW onshore wind project of Romania to Nala Renewables, a joint venture between Trafigura Group, one of the world’s biggest independent commodity traders, and investment fund IFM Net Zero Infrastructure Fund.
In the first half of this year, around 1.5 million smartphones were sold in Romania, flat from the year-earlier period, with the market growing only by value, by around 5-6%, in line with estimates by the local representatives of Chinese mobile phone and gadget brand OnePlus.
STC Partners, the developer run by Adi Steiner, former project manager at Strabag Romania, has signed with Olaru family for the acquisition of a 4,400-sqm land plot on Ferdinand boulevard 72-78.
State-owned airline Tarom, which has been struggling for over a decade to return into the black, in the first half of this year carried only 900,000 passengers and has announced a turnaround plan that envisages route optimization, commercial policy adjustment and fleet renewal.
Local entrepreneur family Mutu, which owns food retailer Annabella and can producer Raureni, has invested EUR5 million in the group’s second retail park, located in Ramnicu Valcea.
Alpha Bank Romania, ranked among Romania's top ten largest banks by assets, ended the first half of 2024 with net profit of EUR23 million, similar to the level reported in the same period of 2023, and its total assets increased by 6% to over EUR4.6 billion.
Albota Law Firm has assisted Nor Real Estate, a real estate developer part of Atenor Group, with signing a loan contract worth EUR21 million and the related guarantee package with OTP Bank Romania, in order to support the development and lease of Phase I of @Expo project, an office building located in Bucharest's Expozitiei area.
Electricity supplier and distributor Electrica (EL.RO) announced in a stock market report on August 2 that its subsidiary Distributie Energie Electrica Romania (DEER) attracted an additional EUR200 million in non-reimbursable financing through the Modernization Fund.
Sphera Franchise Group (SFG.RO), the company that manages KFC, Taco Bell and Pizza Hut restaurants locally, continues the development of its restaurant portfolio with the opening of the first KFC Drive Thru restaurant in the city of Craiova, where the company already has three units.
Fuel wholesaler JT Grup Oil, which owns the newest private oil product terminal in Constanta harbor, announced in a press statement on August 2 that it would be listing its shares on the Multilateral Trading System (the AeRO market) of the Bucharest Stock Exchange, starting Tuesday (August 6).
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the start of construction for the Mondrian Hotel in Bucharest, marking a significant milestone in the development of Romania's first lifestyle hotel under the internationally acclaimed brand Mondrian.
Law firm Filip & Company granted legal assistance to Simtel Team, a Romanian engineering and tech firm, with regard to the transfer of its shares to the main market of the Bucharest Stock Exchange.
Distribution company Delgaz Grid, part of the E.ON group in Romania, signed four new financing contracts worth a total of RON932 million for projects aimed at modernizing and developing the distribution system of electricity in the region of Moldavia where the company operates an electricity distribution network in the counties of Bacau, Iasi, Neamt, Vaslui, Botosani and Suceava counties.18957 items