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Building materials producer Cemacon says 2023 brought, for the second year in a row, a significant contraction of the market it operates on, mainly amid slowing housing sector. Nevertheless, the company made further investments and plans to continue to do so.
The company Termoplast, based in Roman (Neamt County), a producer of PVC and aluminum doors and windows, controlled by local entrepreneurs, ended 2023 with a turnover of EUR18.5 million, up 23% from 2022.
Romanian state-owned oil transporter Conpet Ploiesti (COTE.RO) has announced in a stock market report on Thursday (Jan. 11) a contract worth RON101.58 million concluded with the Petrotel-Lukoil refinery.
Plastic packaging maker Romcarbon (ROCE.RO) has signed a financing agreement with the Ministry of Energy for the implementation of an electricity production capacity from renewable solar energy sources, the company said in a stock market report on Thursday (Jan. 11).
Romanian natural gas producer and supplier Romgaz (SNG.RO) on Thursday (Jan.11) announced its shareholders in a stock market report that it opened a term deposit with Exim Banca Romaneasca, in the amount of RON50 million.
Pastry shop chain LUCA is expanding with a new location right in the center of Bucharest, on the ground floor of the Unirea Shopping Center in Piata Unirii. The new shop will open by the end of January.
The European Commission has approved a EUR126 million Romanian scheme to support investments in ports facing increased trade flows after Russia’s war against Ukraine.
Lithuania’s Spark, a car-sharing service that allows people to rent electric cars via a mobile application, has informed its users in Romania via an in-app notification about plans to shut down the operations in the country on February 1, 2024.
Romania's Finance Ministry raised RON2.62 billion from banks on Thursday (January 11), selling government paper in two auctions, at annual average yields of 6.17%.
KPMG, one of the world’s largest audit and consulting companies, sees Romania’s economy growing by 2.5% in 2024, while inflation should reach 6.9%. Its forecasts were included in the ‘Global Economic Outlook’ report, which in this year’s edition included a review of Romania, along 36 other countries from all continents, such as US, Switzerland, Brazil and Japan.
Bogdan Vaduva, a former partner within KPMG Romania, has been appointed to the position of Group Chief Financial Officer of eMAG Group.
The economic context of 2023 has massively mobilized candidates who are looking for better-paying opportunities that allow them to live comfortably, in line with an analysis carried out by Bestjobs.
Farmland operator Holde Agri Invest (HAI.RO) announced in a stock market report on Thursday (Jan. 11) the appointment of Daniel Adam as the company's Chief Financial Officer (CFO), effective February 1, 2024.
Over 92.5 million tons of freight went through Romanian seaports in 2023, an increase of 22.5% compared to 75.5 million tons recorded in 2022, according to officials of the Maritime Ports Administration Constanta.
The volume of deals with land plots for commercial real estate projects (industrial one and for and traditional warehouses) dropped by less than 10% from the 2022 level of EUR450 million and remains considerably above the pre-pandemic level, in line with Colliers estimates.
Macroeconomic uncertainties, consumption decline and borrowing costs, but also inflation evolution are the main factors due to impact the local real estate market, but nevertheless investors remain upbeat, with most of them having expansion plans in Romania in the next three years, reveals a survey conducted by Cushman & Wakefield Echinox.
AQUILA (symbol AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, announces the signing of a preliminary transaction agreement to acquire 100% of the shares of Parmafood Trading SRL and Parmafood Group Distribution SRL, companies placed among the leading distributors of fast-moving consumer goods.
Car parts maker Optibelt Power Transmission, the local subsidiary of German-held Arntz Optibelt, expects EUR88.3 million turnover in 2024 as the company ended 2022 with turnover of EUR74.4 million (RON367.1 million), net profit of EUR2 million (RON9.9 million) and an average number of 626 employees. For 2023, the company had projected flat turnover.
Romania’s e-commerce market revolved around EUR10 billion at the end of 2023, of which 65% represents goods and products and 35% online services, said Elena Gheorghe, country manager at PayU GPO Romania, a major online payment services provider locally.
Lidas, controlled by entrepreneur Elena Anastase, which owns a bakery plant in Mineri, Tulcea, as well as its own store network, has already hired 140 people for the new plant it is building in Cataloi, Tulcea county, and will continue recruiting to 200 people.19075 items