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Transilvania Broker de Asigurare (TBK.RO), one of the largest insurance brokers in Romania, announced a change in its executive management team, as Gabriel Loghin, the current general manager and legal representative of the company, decided to step down as of February 1, 2024 to “contribute more significantly to the company's strategic direction and the implementation of new projects, based on the administrator's mandate entrusted by the General Meeting of Shareholders.”
Financial analysts with CFA Romania association says the public budget deficit expected for this year will be 5.7% of GDP and will reach 5.2% in 2024.
Sweets are an essential item of holidays in the homes of Romanians and Bulgarians, reveals a report by Colliers based on a survey among respondents of Romania, Bulgaria, Czechia, Hungary and Slovakia (CEE-6).
HiSky airline plans to start operating Bucharest-New York flights in June 2024, with this being the first time in recent years that transatlantic flights exist in Romania.
Private hospital Sanconfind of Campina, opened in 2015, will end 2023 with RON28-29 million, from RON24 million in the previous year.
Romania's state-run natural gas transmission company Transgaz (TGN.RO) wants to borrow EUR350 million from banks for natural gas infrastructure projects and therefore plans to resort to the services of a loan arranger.
Five-star Radisson Blu in the city of Cluj-Napoca, developed by Winners Park Invest and opened in June 2022, will end 2023 with a turnover of EUR7.3 million-EUR7.4 million, in line with the projected level, and it has started the construction of the foundation for a new hotel wing.
Real estate investment trust Star Residence Invest (REIT.RO), established by real estate developer Impact (IMP.RO), has informed the local capital market in a report about the purchase of a 25,024-sqm land in Bucharest, on Dec 20.
The net assets of the 248 domestic and foreign open-end and closed-end investment funds operating in Romania grew by 2.1% in November 2023 up to RON39.5 billion (EUR7.9 billion), but fell by 14% since the beginning of 2023, in line with the latest data from the Association of Fund Managers (AAF).
Cathedral Group, based in Buzau and held by Romanian entrepreneur Alin Zamfira, is joining the shareholding structure of Abatorul Peris, with an ownership stake of 40%, in exchange for three meat processing and commercialization units.
The combined installed power of photovoltaic panels owned by prosumers was 1,300 MW at the end of October 2023 and, according to Romania's National Energy Regulatory Authority (ANRE), it is expected to reach 1,500 MW by the end of 2023.
Romania's Finance Ministry raised RON572.5 million from banks on Thursday (December 21) selling bonds with a nominal value of RON400 million due in July 2034, at an annual average yield of 6.35%.
Polish-held retailer Żabka, one of the largest grocery retailers in Poland, is entering the Romanian market with the acquisition of the majority stake in distribution company DRIM Daniel Distributie FMCG. The deal will be completed once all regulatory requirements have been met.
Data from the country's statistics board INS provided on December 21, 2023 show that Romania has high prices for the arable land.
Law firm PeliPartners assisted the Gymboland Group, which operates a network of 13 indoor playgrounds in Bucharest, Ploiesti and Constanta, to sell the majority stake to the Black Sea Fund at the same time with the implementation of a significant investment from the investment fund.
SeedBlink, the investment & equity management platform dedicated to European tech startups, has announced a strategic partnership with Capital Cell, Spain’s leading investment platform specializing in Biotech and Healthtech.
Romania's Ministry of Finance has attracted RON933.4 million and EUR310 million (values amounting to RON2.47 billion – EUR497.7 million) through the 14th primary offer for the sale of government bonds dedicated to retail investors (Fidelis) held in the last four years using Bucharest Stock Exchange (BVB) systems.
The gross domestic product estimated for 2022 (semi-final data) stood at RON1,401 billion, an increase of 4.1% in real terms compared with 2021, Romania’s National Statistics Institute announced on Thursday.
Tatika Investments Limited, the largest shareholder of Sphera Franchise Group (SFG.RO), bought 363,823 Sphera shares on December 19 for RON9 million, according to a report to the Bucharest Stock Exchange on Thursday.
The four-star hotel Cismigiu in Bucharest, one of the city's landmark buildings, controlled by the Spanish Hercesa, will end this year with EUR1.9 million revenue, higher than in 2019, the benchmark year in tourism.19759 items