Romania Feed

Freight forwarder Dumagas is set to launch a process of investing in AI-based solutions, digitalization and automation, with a focus on boosting the operational efficiency of the business.

Online supermarket Sezamo, part of Czech group Rohlik, has posted increases of around 50% monthly by volume lately, but the growth potential on the Romanian market is even biggest, particularly on the segment of families, but also pensioners and persons with special diets.

Oyl Company Holding, a company operating in the field of road construction and held by entrepreneur Corneliu Dragomir, ended 2022 with a turnover of RON229.1 million (EUR46.5 million), up 18.3% from RON193.5 million (EUR39.3 million) in 2021, as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

Concrete prefab manufacturer Prebet Aiud (PREB.RO) has announced in a stock market report on October 24 the conclusion, as seller, of a contract for the supply of prestressed products, whose value exceeds 10% of the net turnover.

Orange Romania, one of the leading players on the local telecom market, registered revenue of EUR384 million for the third quarter of 2023, down 4.7% on the year, as per data provided by the company.

The Supervisory Board of Romania's national grid company Transelectrica (TEL.RO) has approved in its October 24 meeting the extension of mandates for the members of Directorate for Stefanita Munteanu, Catalin Constantin Nadulu, Florin Cristian Tataru and Bogdan Toncescu.

Fondul Proprietatea (FP.RO) has received approval from the Financial Supervisory Authority (ASF) for a new buy-back program of up 12% of its share capital, the Fund’s manager, Franklin Templeton International Services, said in a report to the Bucharest Stock Exchange on Tuesday.

Grain producer Prodcereal in Calarasi County, majority owned by Vasile Stoica (73%) and Lucia Stoica (27%), posted RON93.4 million (EUR19 million) revenue in 2022, up 147% from the previous year’s RON37.8 million (EUR7.7 million), according to ZF calculations based on data from the Finance Ministry website.

The electric vehicle (EV) battery recycling sector in the European Union (EU) will require EUR9 billion investment to expand capacity by 2035 to keep pace with increased production, according to the “EU recycling market” report by strategy&, PwC's global strategy practice.

Online travel agency Vola.ro is entering the Bulgarian market under the brand Vola.bg, which is the first step in the international expansion strategy under this name. Vola is already present in Poland under the name of FRU.pl.

Romania could raise its national income by almost three times in the next three decades while taking action to improve resilience against climate change and reduce carbon emissions, if it continues broader economic reforms, according to the World Bank Group’s Romania Country Climate and Development Report (CCDR) released on October 24.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has decreased to 6.38% a year on Tuesday (Oct 24), after staying put at 6.40% for 53 days, as per central bank data.

In its 2024 Foreign Exchange Market Outlook released this week, iBanFirst provides Romanian companies, especially those doing international payments, with an overview of key trends for the upcoming year, helping them shape their currency risk management strategy for 2024.

Eszter Martin is the new Chief HR Officer of NN Romania starting November 15, 2023, succeeding Meliha Yardim who has taken over the role of Chief HR Officer in NN Spain.

Ford Otosan has officially started the production of Courier models at its plant in Craiova on Tuesday (October 24), being the first new models produced since the plant was taken over in summer 2022 by Turkey-based holding company Koc Holding.

Over and above the risks that have already been mentioned many times, some of which continue to intensify (financial stability, social and political risks), the fight against inflation has not yet been won: excluding energy, inflation remains well above the targets set by central banks, while the situation on the oil market has became tense again following the attacks in Israel.

Building materials maker TeraPlast Bistrita for the first nine months of 2023 reported net profit worth RON6.8 million and RON517 million revenues.

Giant PepsiCo is building an automated warehouse next to the snacks plant of Popesti-Leordeni, near Bucharest.

Romanian state-run port operator Oil Terminal (OIL.RO) is starting the selection process for the construction of a bitumen terminal in the Black Sea Port of Constanta.

Real estate consulting firm Cushman & Wakefield Echinox has coordinated the BREEAM Excellent certification process for the portfolio of almost 550,000 square meters of logistics parks owned by eMAG in Romania and Hungary.