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The seven private pension funds operating on the mandatory segment in Romania (Pillar II) had assets of RON82.6 billion (EUR16.8 billion) at the end of May 2021, a new record high and RON7.5 billion (EUR1.6 billion) higher compared with December 2020, financial regulator (ASF) data showed Wednesday.
Murat Buyukerk, Chief Executive Officer of home appliances manufacturer Arctic, owned by Turkey's Arcelik, which has two plants in Romania, on Wednesday said the company’s future plans target investments in several factories in Romania.
Lender EximBank has extended until end-2021 the financing program within the COVID-19 state aid scheme intended for large companies and small and medium-sized enterprises (SMEs), whose turnover exceeded RON20 million in 2019.
Romania's competition authority said Wednesday it has authorized the acquisition by Sandoz AG of the sale activity of cephalosporine-based antibiotics from GlaxoSmithKline (GSK).
Lender Patria Bank (PBK.RO), held by private equity fund Emerging Europe Accession Fund (EEAF), announced Wednesday that Burak Yildiran, a seasoned banker with more than 25 years of experience, has received central bank approval for the position of CEO.
Bucharest has been the top FDI destination in Romania for more than a decade but investors are showing new interest for other regions, particularly the Western region of Romania, as well as South-Eastern region of Muntenia, according to the EY Romania Attractiveness Survey released Wednesday.
TeraPlast group, Romania's largest local construction materials producer, owned by businessman Dorel Goia, is currently implementing investments of EUR32 million.
Depanero, the main service and repair firm for electronics and appliances in Romania, part of eMAG group, is accelerating its digitization process using the low-code platform developed by Aurachain to automate business processes and smart contract applications.
Getica 95, the biggest local energy supplier on the competitive energy market, has filed for insolvency at the local court in Buzau on June 15.
Spanish-held Inditex group, the owner of Zara and other fashion brands, saw its sales shrink by 27% to RON1.3 billion last year. The group lost the top position on the fashion retail market to Polish-held discount store chain Pepco, whose sales rose slightly, 2%.
The owner of the largest Romanian-held grain trader Cerealcom Dolj, Mihai Anghel, hopes to make the first RON1 billion in grain trade revenue this year, after having posted growth of 15% over 2020, the company officials say. The expectations are for the fiscal year started July 2020 and ending June 2021.
Sanador, the fourth largest private medical services operator in Romania by turnover, has opened a new clinic, on the groundfloor of the One Tower office building in Bucharest’s Calea Floreasca area, which engulfed EUR6 million.
Cameron Romania, the largest supplier of equipment and services for the local oil industry, had a turnover of RON1.17 billion in 2020, down 10% from 2019 level, per finance ministry data.
River freight transporter Transport Trade Services (TTS) said in a stock market report on Tuesday that British investment trust Utilico Emerging Markets PLC has reached the 5% threshold of the share capital of TTS.
Farmec Cluj-Napoca, the biggest local cosmetics manufacturer, said Wednesday it has invested over the last year a total EUR500,000 in the manufacturing of biocides for personal and medical use and it has sold over 2 million sanitizer-type items.
Shares of agricultural company Agroland Agribusiness (AAB.RO) started trading Tuesday on the AeRO market of the Bucharest Stock Exchange, reaching a price of RON36/share by noon, 33.3% higher than the private placement price.
Verona Cojocaru, specialist with over 20 years of experience in financial audit, has been named Partner within EY Romania's Audit department starting July.
Local startup easySales, which set up a B2B platform for automating and centralizing e-commerce activities, announced it has integrated merchant access to online furniture and home décor retailer Vivre.
Porsche's local engineering division will be opening a second office in Romania, in Timisoara, after the one established in 2016 in Cluj-Napoca.20531 items