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Tech-Con Industry Romania, a member of the Tech-Con Group, a leading player in the automation market, has relocated its offices and warehouse to VLPark Bucharest West, where it leased a space of approximately 2,500 square meters.
Romania's Finance Ministry has raised RON518 million from banks on Thursday (June 20), selling government paper at an annual average yield of 6.27%.
Although the number of foreign direct investment (FDI) projects in Romania in 2023 decreased by 13%, investor optimism remains strong, with 67% anticipating an increase in the country’s attractiveness as an investment destination over the next three years, compared to 41% in the previous year, as per the EY Romania attractiveness study conducted in the first part of 2024.
Delgaz Grid, part of E.ON Romania group, has so far submitted 20 investment projects which total RON3.3 billion and target SMART metering, the modernization of transformer stations, high, medium and low voltage networks, and the increase of the network capacity.
Romania continues to face major challenges in managing and recycling packaging waste, with the latest data showing that the country has recycled only 38.31% of packaging waste, marking a decline of 1.56 percentage points, in line with information put together by the National Institute of Statistics (INS).
Agir Global, a steel producer of Turkey, has entirely acquired Steel Service Center Sidma Romania SRL, a subsidiary of Greek Sidma Group.
inHEART, a medical devices company, in early May 2024 raised $11 million to to drive commercial growth of its therapeutic software solution for cardiac ablation procedures and advance the development of its predictive cardiac models for heart failure, sudden cardiac death, and cardio-embolic stroke.
NY’ER Romania based in Cluj-Napoca, the operator of the local New Yorker stores, reported a turnover of RON586.6 million (EUR118.6 million) for 2023, up 13% from a turnover of RON518.5 million (EUR105.1 million) reported in 2022, in line with calculations by Ziarul Financiar (ZF) daily based on finance ministry data.
eMAG, one of the largest online retailers in the region is nearing one million customers for its Genius service launched four years ago, which provides subscribers access to free delivery if certain conditions are met, as well as special offers via the eMAG app and via other platforms of the group such as Tazz, Fashion Days and Freshful.
Furniture maker Artemob International, controlled by French company P3G Industries, ended 2023 with a turnover of RON111.7 million (EUR22.6 million), down 16.8% from a turnover of RON134.3 million (EUR27.2 million) in 2022, in line with calculations by Ziarul Financiar (ZF) daily based on finance ministry data.
Libra Internet Bank expects Romania's gross domestic product (GDP) to grow 2.6% in 2024, Lucian Anghel, the bank's deputy chief executive officer and chief economist, told a press conference.
Clifford Chance Badea, the Bucharest office of global law firm Clifford Chance, is advising Greek-based Motor Oil Renewable Energy Single Member S.A. (MORE), leader in the Eastern Mediterranean energy sector, in the acquisition of two photovoltaic projects in Buzau County, with an installed capacity of 86 MW and an additional power storage capacity of 18 MWh.
Romania’s central bank (BNR) has approved the direct acquisition by Dan Ostahie (90.10%), Altex owner, and Real Estate Srl (9.89) of the 100% stake in the share capital and voting rights of Porsche Bank Romania SA.
Real estate developer One United Properties (BSE:ONE) has announced in a stock market report on Wednesday (June 19) that its subsidiary One United Tower had contracted a bank financing of EUR47 million from lender Banca Transilvania.
In April 2024, the volume of construction works increased, in unadjusted data, by 10.3% compared to March 2024 and was up 8.0% when adjusted to the number of working days and to seasonality, data from the country’s statistical office INS showed on Wednesday (June 19).
Developer Genesis Property, owned by Liviu Tudor, the biggest Romanian owner of offices, has announced the electricity for all projects in the portfolio, namely the office buildings of business parks West Gate Business District and YUNITY Park, as well as residential buildings West Gate Studios, comes entirely from renewable sources.
Romanians’ intention of buying a house in the next 12 months is close to the levels of the 2006-2008 period, before the global financial crisis, and the housing market started 2024 with a 19% increase in the number of deals with apartments in the first quarter, nationwide, reveals a recent analysis by Colliers based on Eurostat data.
Alexandrion group has launched a new vodka brand, Omu, named after Omu Peak in Romania.
OMV Petrom, Romania’s biggest company, has announced significant changes in its 2030 Strategy, a document published in 2021, with green transition project investments due to be stepped up.
ADA Fabrica de Mobila, a major local furniture producer, for 2023 reported turnover worth RON203.5 million (EUR41.2 million), up 3% from 2022, in line with ZF calculations based on Finance Ministry data.19015 items