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Grand Plaza Hotel company, which controls Bucharest’s Sheraton hotel, in 2020 saw turnover slump by 80% to RON 12 million, from RON61 million in 2019, in line with Finance Ministry data.
TMD Friction Romania, owner of Textar brake pads brand, for 2020 reported a turnover worth RON227.1 million (EUR47.1 million), up 2.5% from the previous year, according to Finance Ministry data.
Sales of non-alcoholic or low-alcohol beer rose by 5.1% last year, to RON236 million, according with ZF calculations based on Euromonitor data. The growth pace slowed down significantly in 2020, a pandemic year, but the segment was however the only one of the overall beer market to go up during the pandemic.
Pentalog Romania, a French-owned provider of software development and consultancy services, present in Romania for over two decades, in 2020 went beyond the EUR36 million (RON178.1 million) threshold in terms of turnover, posting over 5% growth against the previous year.
Drywall products maker Etex Building Performance (Siniat Romania), part of the Etex Group, posted RON145 milion revenue in the first half, an increase of almost 10% on the year-ago period, as a result of the strategy to expand in retail and residential segments with products and solutions for new projects and renovations.
Romania’s Finance Ministry has reopened a bond issue due in 2028 and raised RON706 million from banks on Monday, RON406 million more that it set out to, at a yearly yield of 3.65%.
More than one million firms (1,056,574) have been deregistered in Romania over the past 30 years, with most of them vanishing from the market in 2002, 2006 and 20119, reveals an analysis by Termene.ro platform.
Agroland Business Systems (AAB.RO), which operates a chain of farm and garden supplies stores, ended the first half with RON128 million revenue, an increase of 5% on the year-ago period, as well as RON6.5 million net profit, 22% lower than the RON8.4 million in the corresponding period of 2020.
Austrian giant ALPLA, with annual turnover of EUR3.7 billion and 178 plants in 45 states worldwide, is to build a recycling plant in Targu Mures in the wake of EUR7.5 million investments.
Romanian state-owned lender CEC Bank is investing further in technology and digitalization and announces the launch of current account packages that can be accessed entirely online, with qualified electronic signature, by SMEs and PFAs.
The shares of real estate developer One United Properties (ONE.RO) became part of the BET index of the Bucharest Stock Exchange on Monday. The BET index tracks the performance of the most liquid shares on the Bucharest Stock Exchange and includes 19 companies.
Romanian executive Marius Dorner will become global subsidiaries group head of Citi’s Russia, Ukraine and Kazakhstan (RUK) cluster and of Citi Russia on November 1, 2021, subject to approval by the relevant regulatory authorities.
The management board of real estate developer Impact Developer & Contractor (IMP.RO) approved a share capital increase by a maximum of RON194 million via the issue of 775 million shares.
Romania’s modern retail landscape is an exact copy of the Romanian economy as most stores are opened in the most economically powerful counties, led by Bucharest.
Alin Radasanu, chairman of the managing board of Brasov-based Sf. Constantin private hospital told ZF the player targets revenues worth RON110 million in 2021, 25% higher than in 2020.
Swiss-held Clariant upholds its plan to start bioethanol production by the end of 2021, four years after beginning the construction of the EUR140 million plant of Podari, near Craiova.
Vista Bank (the former Marfin), controlled by Greek-held group Vardinogiannis, is set to reach total assets worth above EUR1.4 billion, loans of EUR800 million, deposits of EUR1.2 billion and over EUR105 million in CET1 capital after completing the takeover of Romanian operations of French-held Credit Agricole, in line with the bank’s estimates.
Ares medical centers, specialized in cardiology, taken over in 2019 by US-held Highlander Partners, aim to reach EUR12 million turnover this year, up 30% from last year, after opening two new centers domestically, according to the company’s officials.
Romania’s Financial Supervisory Authority (ASF) on Friday evening announced it would start bankruptcy proceedings against City Insurance, the largest auto liability (RCA) insurance provider in the country, with a market share of 45%, for failing to restore capital indicators because no investor came to its rescue.
ICMA Bucuresti (ICMA.RO), a company with a capitalization of merely RON665,700 on the Bucharest Stock Exchange, has announced regional investment fund SIF Muntenia (SIF4.RO) sent notification about the sale its 84,463 shares or 7.66% in ICMA on September 13.19702 items