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Genesis Property has announced the completion of works on Phase 2 of the YUNITY Park project following an investment of EUR20 million.
OMV Petrom, the largest integrated energy company in Southeastern Europe, has signed an agreement to purchase 50% of the shares of the Romanian company "Respira Verde SRL," a local leader in the collection of used cooking oil, the company announced in a stock market report on November 2023.
51.1% of the total active enterprises had as main activity market services in 2022 and the highest average number of employees was registered in the market services sector, representing 38.0% of total, data from Romania's statistics board INS showed on Thursday (Nov 23).
The Ministry of Energy has signed 15 contracts for investments in new electricity production capacities from renewable sources, through the National Recovery and Resilience Program.
Geological prospecting company Prospectiuni Bucuresti, majority owned by businessman Ovidiu Tender, ended the first three quarters of 2023 with RON25.3 million net profit, 166% above the level of the year-earlier period. Turnover reached RON187.3 million, up 54% year-on-year.
Farmland operator Holde Agri Invest reported RON22.87 million for the first nine months of 2023, against RON430,000 profit on September 20222, an 84% decline from January-September 2021.
Alro Slatina, one of the largest vertically integrated aluminum producers in Europe, measured by production capacity, is implementing two investment projects worth 4.22 million to increase product quality control capacities.
Eduard Alexianu, commercial manager at Merlins Beverages, the producer of Vitamin Aqua and Limonade, says the company has sealed an international partnership and started selling abroad.
2B Intelligent Soft (BENTO.RO), a Romanian entrepreneurial company specializing in development and implementation of software solutions and the provision of IT and Cloud infrastructure services, reported operating revenues worth RON39 million for the first nine months of 2023, 103% above the year-earlier level.
The European Commission has given a positive assessment of Romania’s modified recovery and resilience plan, which includes a REPowerEU chapter.
Financial investment company Transilvania Investments Alliance (TRANSI, the former SIF Transilvania) has sold its ownership stake in Sphera Franchise Group (SFG.RO), which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, as well as the KFC units in Italy and the Republic of Moldova.
Smartphone sales in Romania will reach almost EUR1.5 billion at the end of 2023, an increase of some 8% on 2022, while the volume will continue to shrink, with the decline estimated at some 6% for the number of units. This is because more and more Romanian consumers are going for premium models, which come with a price tag of more than EUR600, as well as super premium, costing upwards of EUR1,000.
Anchor Grup, one of the most important real estate developers on the local market, announces new names in its retail portfolio, in both shopping centers it owns – Bucureşti Mall-Vitan and Plaza Romania.
The shareholders of the Bucharest Stock Exchange (BVB) have decided in their general meeting of Nov 22 to re-elect Radu Hanga as President of BVB for four more years.
The significant rise in banks’ revenue along with the rise in interest rates and continued lending helped Romania’s banking system make a record net profit of more than RON10 billion (EUR2 billion) in the first nine months of 2023, more than 40% higher than the nine-month profit in 2022 and as much as the entire profit of 2022.
Industrial bakery business Boromir expects to end 2023 with EUR160 million revenue. However, it seeks fast-paced growth in the future, to reach the EUR500 million revenue mark.
The National Bank of Romania approved the appointment of Maria Rousseva for the position of Chief Executive Officer (CEO) of BRD-Groupe Societe Generale, for a four-year term, in line with a report submitted to the Bucharest Stock Exchange.
56% of respondents in the latest eJobs survey plan a job change in 2024, 17% are undecided, while 27% are satisfied with their current job and are not considering making a change.
Alternative investment fund Evergent Investments (EVER.RO), with a market value of RON1.2 billion and net assets of RON2.5 billion, reduced its ownership stakes in Romgaz (SNG.RO) and Nuclearelectrica (SNN.RO) in the third quarter of 2023, namely, ovet he course of the months of July, August and September, as per data analyzed by Ziarul Financiar (ZF) daily based on the fund's stock market reports.
Entrepreneur Adrian Tomsa, who leads a group of investors negotiating the takeover of mobile telephony operator Telekom Romania Mobile from Greece’s OTE and Germany’s Deutsche Telekom, says that if the deal is successfully completed, he plans to focus on the IT&C market, as well, becoming a provider in the major digitalization projects of the government.19075 items