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Romania’s media market is expected to generate advertising revenue of EUR642 million in 2022, up 7% on the year, according to media agency Initiative Romania.
The surprise of the end of the year on the IT, as well as the M&A market in Romania was the acquisition by GlobalLogic of Fortech Cluj, a Romanian IT services entrepreneurial company.
The International Finance Corporation (IFC), a member of the World Bank Group, is granting a loan of EUR20 million to Patria Bank, a bank listed on the Bucharest Stock Exchange, as part of its larger efforts to spur economic growth and support small-scale entrepreneurs in Romania.
Euromoney, an English-language monthly magazine focused on business and finance, has named UniCredit Bank Romania as Market Leader in Corporate Banking in its 2022 European Markets Leaders Survey, an independent global assessment of the leading financial service providers conducted across 100 markets.
Agroland Business System (AG.RO), the Romanian retail, agriculture and food entrepreneurial group which owns the largest network of agricultural stores in Romania, on Thursday said it was strengthening its management team by appointing Adrian Gafita to the position of Chief Financial Officer (CFO) and Lucian Luca as National Retail Director.
New car registrations in Romania grew by 7.4% on the year to 116.891 units in January-November 2022, placing the country 13th in the European Union (EU), data from the European Automobile Manufacturers Association (ACEA) and the association of automotive manufacturers in Romania (ACAROM) showed on Thursday (Dec 15).
Considering the current context of the energy market and the Government Ordinance no 153/11 November 2022, which sets the mechanism for the centralized purchasing of electricity, by capping revenue of the electricity producers from the market, Fondul Proprietatea analyzed the impact on the valuation of the 19.94% stake in Hidroelectrica and updated the valuation accordingly.
Undelucram.ro, the largest online community of employees in Romania, plans to raise EUR400,000 on SeedBlink, an investment platform for European startups.
TBI Bank, with operations in Romania, Bulgaria, Germany, Greece and Lithuania, had a net profit of EUR30.2 million in January-September 2022, up 33% on the year, the bank said in a statement.
The fifth edition of the Financial Reporting of European Banks report by Mazars, the international audit, tax and advisory services company, focuses on European banks’ expected credit loss (ECL) levels in the first half of 2022.
Retailers will see declines of 5% to 20% in the number of products sold in December 2022 compared to the same month of 2021, but they are expected to see almost 5% higher revenues amid rampant inflation, as per an analysis by White Image, the largest email marketing agency in Romania.
Companies across industries direct more than half of their marketing budgets (58%) towards digital activities, according to the latest edition of the Chief Marketing Officer (CMO) Survey conducted by Duke University with the support of Deloitte.
The Bucharest Stock Exchange currently has 370 listed companies, registering total capitalization of around RON150 billion, as well as 140 listed bond issues, says Radu Hanga, BVB president.
Consulting services company PwC Romania will include the solutions developed by the Romanian fintech Finqware in its automation services portfolio amid companies’ rising demand for solutions related to banking liquidity efficient management, real-time account reconciliation and treasury management.
Paper manufacturer Pehart Tec, controlled by private equity fund Abris Capital, is extending to EUR78 million the syndicated loan contracted in 2020.
Romania’s software and services market suddenly slowed down toward yearend, from an average annual increase of 15-17% to 5% in the past two months, as many projects traditionally wind down before yearend and companies are reluctant to start new ones at this moment, reveals an analysis by OVES Enterprise, a software developer of Cluj Napoca.
Minifarm pharmacy chain, which has opened units in Tulcea and Constanta counties, estimates it will end 2022 with 27% higher turnover and thus reach RON317 million, in line with the company’s officials and ZF calculations.
Karlovo-based Altimir BS EOOD, owned by Svetoslav Bozhidarov Ilchovski, one of Bulgaria’s biggest landowners, has bought Rural Capital company, a grain grower, from Mihai Rotary, owner of Universitatea Craiova, in line with Trade Registry data.
The war that broke out in Ukraine in February led to a record number of Ukrainian-held companies established in Romania this year, with trade and IT & C as the most active sectors.
Republic of Moldova’s largest lender, MOLDOVA-AGROINDBANK (Maib), which has a market share of 36.3% and about MDL39 billion (EUR2 billion) assets, got the shareholders’ approval to go public on the Bucharest Stock exchange in 2023. The move will enable it to raise the cash it needs for development.19080 items