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Romania's finance ministry on Thursday raised 571.8 million lei (EUR115.9 million), versus its RON600 million target, selling bonds maturing in November 2024 at an average yield of 2.43%, central bank data showed.
Scandinavian furniture and home décor retailer JYSK is continuing its expansion in Romania by opening a new store, in south-eastern city of Constanta, reaching a 100-unit network in Romania after 14 years of activity locally.
ALTEN Romania, the local division of French group Alten, which specializes in engineering and IT consulting services, ended 2020 with a turnover of RON126.5 million (over EUR26 million), up 5% on the year, and a net profit of RON17,8 million (approximately EUR3.7 million).
Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, fell to 1.52% a year on Thursday (June 3), after just two days of stagnation at 1.53% threshold.
The first stage of the Athenee Palace Hilton hotel renovation, whereby the new 132-room hotel wing was refurbished, has been completed and works on the second stage are to start in October 2021. Investments may exceed the initial budget of EUR25 million depending on the evolution of works on the second renovation stage.
The Foreign Investors Council (FIC), which includes over 120 multinational companies, thinks Romania currently has both the potential and the chance to implement key reforms for a strong and long-lasting economic recovery.
Romanian developer Iulius Group estimates it will invest around EUR35 million in infrastructure and urban mobility works that will serve its Palas Campus project in Iasi, northeastern Romania.
Spanish-owned Pons Ro Prodcom, which produces floor detergents, will invest EUR5 million in a new headquarters, which includes production and storage facilities, in Branesti, Ilfov county.
Austrian-held construction group Strabag posted a turnover of RON870 million in Romania in 2020, 12% higher compared with 2019, finance ministry data showed.
Demand for consultancy services related to project monitoring activities and conducting technical due diligence and commissioning reports has increased as financing banks, investors and real estate owners pay more attention to reports on construction and the impact of buildings.
Investments on the Romanian property market dropped 50% on the year in the first quarter of 2021, to EUR73.5 million, with varying demand across market sectors.
The first year of the COVID-19 pandemic came with a change of leader in Romania’s grocery retail, so discount store chain Lidl took the top spot, overtaking Kaufland after a decade. The change happened ten years after the arrival of Lidl in Romania by buying Plus Discount.
Holcim, HeidelbergCement and Romcim (formerly CRH Ciment) were at the top of the local construction materials market with the Romania subsidiaries, after having posted growth in revenue compared with 2019.
Farmacia Tei and Bebe Tei brands of entrepreneur Roxana Maftei have overshoot the RON1 billion sales mark together in 2020, Finance Ministry data show.
Outsourcing services provider Genpact Romania, the local division of India’s Genpact Group, had a turnover of RON483 million in 2020, down nearly 9% on the year, per finance ministry data.
Heineken Romania, one of the largest brewers on the local beer market, ended 2020 with a turnover of RON1.26 billion, similar to RON1.23 billion reported in 2019, considering that beer sales in the hospitality industry decreased in 2020 and the beer market stagnated.
Romania’s largest lender Banca Transilvania said Wednesday evening in a stock market report that it acquired Idea Bank from Poland’s Getin Holding Group within a transaction worth EUR43 million which also includes the leasing and brokerage operations of Idea Leasing IFN and Idea Broker de Asigurare, respectively.
Prime Minister Florin Citu said Wednesday that Romania’s consolidated budget deficit returning below the European Union’s 3% ceiling in 2024 was accepted as principal strategy by the European Commission.
The One Tower office building, developed by One United Properties in Bucharest’s Floreasca area, will also have an “office hospitality”-type center, the first of its kind on the Romanian market.
Mesopotamia restaurant chain is speeding up its expansion in 2021 in order to reach the 80-unit target in Romania in coming years, from 45 units at present, located in Romania’s main cities.20531 items