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Groupama Asigurari, the leader of the entire insurance market and the largest on the third-party liability insurance RCA market, ended 2023 with gross underwritten premiums of over RON4 billion, up 37% from 2022, of which nearly 60% targeted the RCA segment and 24% the segment of comprehensive auto insurance Casco, as per data from the company's representatives.
Diana Mihai will take over the role of Head of Marketing, Communication and Brand Experience of ING Bank Romania, starting June 17, 2024, in line with data from the bank's representatives.
The Medimfarm retail pharmacy chain in Prahova, one of the largest regional networks in the local pharmaceutical retail, reached a turnover of RON163 million in 2023, up 10% on the year, in line with calculations by Ziarul Financiar (ZF) daily based on finance ministry data.
Holde Agri Invest (HAI.RO), one of the largest players in the Romanian agribusiness sector, has announced in a stock market report on May 9 the signing of several sale-purchase contracts worth a total of nearly EUR4 million (some RON20 million).
Norofert, leader in regenerative agriculture research and one of the largest input producers in Romania, listed on the Bucharest Stock Exchange, has announced in a stock market report on May 9 the completion of the fertilizer production line in the USA.
Romania's Prime Minister Marcel Ciolacu has announced on May 9 that the government approved a financing scheme of nearly EUR100 million, using funds from the National Recovery and Resilience Plan (NRRP), for the development of fixed or mobile high-speed communication networks across some 1,000 localities with access to poor quality services.
Romania's Finance Ministry raised RON800 million from banks on Thursday (May 9), selling government paper in two auctions, at annual average yields of 6.35% and 6.70%, respectively.
The Board of Directors of the European Investment Bank (EIB) on May 9 endorsed a revised definition for dual-use goods and infrastructure eligible for EIB Group funding.
Natural gas producer and supplier Romgaz (SNG.RO) on Thursday notified the Bucharest Stock Exchange of having made a RON200 million term deposit without auto-renewal option with Exim Banca Romaneasca. The interest rate negotiated is 5.87% and the maturity is July 15, 2024.
The Bucharest Stock Exchange (BVB) and European Bank for Reconstruction and Development (EBRD) and the will work together to review the Romanian market’s corporate governance code, aligning it with recent regulatory changes and updated global standards, BVB said in a report on May 9.
Real estate developer Hagag Development Europe, controlled by businessman Yitzhak Hagag, has acquired housing project Obor Est Residence, located in eastern Bucharest, on the platform of former “Izolatorul” plant.
Law firm Filip & Company has assisted Centrokinetic network, specializing in orthopedy and medical recovery, aided in the deal by investment fund Agista as shareholder, in acquiring an almost 70% staje in the share capital of the company that operates Socrates clinic of Timisoara.
Polish retailer Zabka, which has more than 10,000 stores back home, is officially entering the Romanian grocery retail market by opening its first store under the Froo brand. This is the brand the group will use in Romania.
Early Game Ventures on April 25 finalized the necessary documents for the official launch of its second investment fund, with a total value of EUR60 million, the firm said in a press release.
The Bucharest Stock Exchange, the operator of Romania’s capital market, in the first three months of 2024 posted RON2.96 million net profit at group level, 68% higher than in the same period of 2023, while the net margin rose from 14% to 17%.
Companies in the first three months of 2023 leased around 200,000 square meters of logistic and industrial spaces, with demand mainly coming from production firms, FMCG and logistic operators, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.
Aquila Part Prod Com, an entrepreneurial company providing distribution and logistic services for the consumer goods market, ended the first quarter of 2024 with 11% higher revenues than in the year-earlier period, at RON624 million, while profit shrank by 26% to RON19.6 million.
Romanian company Axes Software, specialized in developing software solutions for the logistics sector for over 18 years, ended 2023 with a turnover of RON9.7 million (nearly EUR1.9 million), up 12% versus 2022, below its initial target for a nearly 20% increase, in line with finance ministry data.
American company PDQ, which provides management solutions for active software, has paid over EUR20 million to acquire the entire package of shares of CODA Intelligence, a Romanian startup specialized in cybersecurity solutions, from its founders and from the two funds which had invested in the project, namely Early Game Ventures and RocaX, several sources familiar with the deal told Ziarul Financiar (ZF) daily.
Oradea-based Criboser, the second most dynamic road carrier in Romania by revenue in 2022, expects business to grow this year after buying 20 more trucks to carry goods from Belgium, Germany and the Netherlands.19015 items