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In 2021, European Union member states lost around EUR61 billion in uncollected VAT, of which over EUR8 billion in Romania alone, placing the country third among European states in terms of non-collection of VAT, i.e. the difference between forecasted and actual VAT revenues, according to a European Commission report.
Belgium’s Bekaert has signed an agreement to buy 100 GWh worth of wind power from Romania with electricity generation company Rezolv Energy, held by UK investment firm Actis.
Investment company Omnia Capital, founded by Matei Ladea and Bogdan Georgescu, is continuing its consolidation process and buying 44.67% in Cargo Buddy, a a comprehensive online platform offering logistics and transportation solutions in Romania.
Romania's Ministry of Finance has attracted over RON2.1 billion (EUR435.5 million) through the third primary offer of Fidelis government bonds, intended for the population, held this year through the local capital market, as per a stock market report published at the Bucharest Stock Exchange on July 4.
Maria Boldor, who was promoted to Partner within the international management consultancy group Horváth this spring, has also become the Managing Director of the Bucharest team after 17 years with the company.
French real estate group Catinvest is investing EUR36 million to expand ElectroPutere Parc from Craiova, along with the opening of the new Leroy Merlin store and the acquisition of the former Leroy Merlin store, which will be converted into a 11,000-square meter extension of the ElectroPutere Mall.
Over half (56%) of non-financial companies in Romania have perceived a worsening of the economic situation nationally in the past six months, reveals a survey conducted by the central bank BNR, but sentiment has improved compared with previous reports (64% in December 2023, 61% in March 2023 and 70% in March 2021).
Fidelis issues, via which Romania’s government sells government bonds to retail investors at non-taxable interest rates that are often more attractive than banking offers, will have a higher frequency during a year since, as authorities say, demand is rising.
Bio Eel, specialized in drug production and wholesale, with a plant in Targu-Mures, in 2023 posted turnover worth around RON905 million (EUR183 million), up 33.6% from 2022, in line with ZF calculations based on Finance Ministry data.
Technical plastic solutions developer Reinert Junststofftechnik, acquired in late 2019 by Germany’s CCBA Vewaltungs, for 2023 reported turnover worth RON185.8 million (EUR37.6 million), up around 19% from 2022, in line with ZF calculations based on Finance Ministry data.
Israeli-held Sinaia SA, which manages two hotels in mountain resort Sinaia, in 2023 reached RON66 million turnover, up 20% from 2022, and managed to also boost its net profit to RON24.5 million. Thus, the company had a 37% profit margin in tourism.
Infomed Fluids, one of the largest drug makers with a local plant, ended 2023 with RON277 million turnover, up 45% from 2022.
Video game development industry in Romania has been dominated by multinationals for many years, as the top actors are still Electronic Arts (US), Ubisoft (France) and Gameloft (France), but two Romanian-held companies, Amber Studio and Green Horse Games, made it into the top five last year.
Promateris (PPL.RO), a leading Romanian industrial group that manufacturers biodegradable and compostable packaging, has proven that accessing Norwegian funds can turn an innovative idea into a success story.
Asbis Romania, the local subsidiary of Cyprus-based ASBIS, a developer and provider of ICT and IoT products, solutions and services for the Europe, Middle East and Africa (EMEA) markets, returned to net profit in 2023 and its turnover soared, as per data from the company's balance sheet submitted at the finance ministry.
Forvis Mazars Group, the international audit, tax and advisory services partnership, releases its latest CEE Tax Guide 2024, providing comprehensive insights into the tax systems of 22 European and 3 Central Asian countries.
ROCA Industry, the Romanian holding of construction materials companies, aims to achieve a turnover of RON655.4 million in 2024, through its subsidiaries, up 54% compared to the consolidated result of 2023.
Pharma company group Direct Pharma Logistics, made up of Direct Pharma Logistics, Pharmalink and Farmatop, is expanding its drug wholesale operations and is readying to enter the market of the Republic of Moldova in 2025.
Romanian state-owned airline TAROM has signed the leasing contract for the acquisition of two Boeing 737 MAX 8 planes, due to be delivered during December 2025-January 2026 period.
State-owned Nucleaelectrica (SNN), Romania’s sole nuclear power producer, has announced it received a request from the Energy Ministry to supplement the agenda of the Ordinary and Extraordinary General Meeting of Shareholders set for 18.07.2024/19.07.2024.18995 items