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Euro area economic growth surprised on the upside, with stagnant GDP in Q4/2022 and likely modest growth in Q1/2023, quelling previous expectations of an imminent recession, as per the EY European Economic Outlook.
The world’s largest semiconductor companies will spend US $300 million in 2023 on artificial intelligence-based solutions dedicated to chip design, an investment that will increase by 20% annually over the next four years, according to the Deloitte TMT (Technology, Media and Telecommunications) Predictions 2023 report.
The uptrend of listings continued on the Romanian capital market in the first quarter of the year amid a volatile period for international capital markets. The seven financing rounds carried out through the Bucharest Stock Exchange (BVB) totaled EUR428 million, of which six bond issues with a combined value of EUR427 million and one equity issue of almost EUR1 million.
Andrei Sarbu, CEO and founder of real estate consulting firm SVN Romania, one of the largest real estate consulting firms in Romania and leader of the housing segment, with over 15 housing projects in its portfolio, has taken over control of the company, becoming its sole stakeholder by acquiring the stake held by Ionut Nicolescu, former chairman and co-founder of SVN Romania.
Suceava-based paving stone manufacturer Symmetrica, owned by Stanciu family, is building a new plant due to be located in Ovidiu locality of Constanta county, with Dobrogea being an area the company has not yet covered.
Telecommunications operator Digi (DIGI.RO) on Monday night notified the Bucharest Stock Exchange that its RCS&RDS subsidiary signed an agreement for several loan facilities worth EUR500M to refinance debt and use to investments and other purposes on April 21.
Romania's Finance Ministry raised RON1.1 billion from banks on Monday (April 24) selling government paper in two auctions at annual average yields of 7.33% and 7.53%.
National power grid company Transelectrica (TEL.RO) has appointed Stefanita Munteanu chief executive officer as of April 25, the company said in a decision of its Supervisory Board sent to the Bucharest Stock Exchange.
Romania’s largest lender Banca Transilvania (TLV.RO) on April 24 published a report to the Bucharest Stock Exchange detailing the EUR500 million financing concluded at a yield of 9% per annum and a four-year maturity on Friday.
Tema Energy, a technology provider specializing in construction of data centers, going from design to delivery, installation, start-up and maintenance and support services, ended 2022 with more than EUR12.7 million (RON63 million) revenue, an increase of 47% year-on-year, the company said in a release.
Law firm Filip & Company assisted Fondul Proprietatea (FP.RO) in the sale of its minority stake in E-Distributie Muntenia SA, Enel Energie Muntenia S.A., E-Distributie Dobrogea S.A., E-Distributie Banat S.A., and Enel Energie S.A.
OMV Petrom, Romania’s largest oil company, has started general revision works at Petrobrazi, which will be carried out during six weeks and for which the company will earmark RON400 million.
Navodari Chemical Fertilizers Plant (Combinatul de Ingrasaminte Chimice (CICh) Navodari, registered RON300 million turnover in 2022, up almost 70% from 2021, amid rising fertilizer demand.
Autoklass group, a Mercedes-Benz, smart and Honda authorized dealer, ended 2022 with EUR233 million turnover.
Vodafone Romania SA, the main entity the British telecom group owns on the local market, in 2022 registered RON4.695 billion turnover, up 2.3% on the year.
South Korean giant Samsung kept its leading position on the local mobile phone market last year with a 53% share by unit number and around 45% by value.
WIP Industries, a supplier of components for the furniture industry, has completed the plant of Campia Turzii, Cluj county, in which it has invested over EUR35 million.
Prahova-based DIY stores Artsani ended 2022 with RON175 million turnover, flat on the year, but profit halved, reaching RON5.6 million, a seven-year low.
Pharmacy chain Tei, one of the most dynamic businesses in Romania, controlled by entrepreneur Roxana Maftei, ended 2022 with RON950 million turnover, up 9.4% from the previous year, according to the company’s officials.
Banca Transilvania (TLV.RO) on Friday night sold EUR500 million worth of bonds at a yield of 9% per annum, as part of the EUR1 billion bond issue the shareholders approved in order to meet the minimum requirement for own funds and eligible liabilities (MREL).19080 items