Romania Feed

Garanti BBVA Leasing, part of the Garanti BBVA Group, has signed a new EUR20 million loan agreement with the International Finance Corporation (IFC), a member of the World Bank Group.

Deloitte Romania assisted Innova Capital, a leading private equity firm in Central and Eastern Europe, with the acquisition of the majority stake of NETOPIA Group, one of the longest-established payment service providers in Romania.

Dental clinic network Dr. Ardeleanu is opening a new stomatology center in Slobozia, in the wake of a EUR600,000 investments, thus reaching five centers nationwide.

Continental group has reached total investments of EUR600 million in the tire plant of Timisoara after 25 years of activity. And production has topped 300 million tires.

Bacau-based group Agricola, a major producer of poultry, cold cuts and ready meals in Romania, has come to get almost one quarter (22%) of sales from abroad, with foreign receipts rising 6% from 2022.

Private equity fund Mid Europa Partners has mandated investment bank Citi to find a buyer for store network Profi, one of the biggest retailers locally by turnover (EUR2.4 billion last year) and network (over 1,600 stores), according to ZF sources.

Termoplast company of Roman, Neamt county, a producer of PVC and aluminum doors and windows, controlled by local entrepreneurs, aims for EUR18 million turnover this year, from EUR15 million in 2022, when it doubled its business.

Only 11% of Romanians could financially cope with the costs of repairing or replacing goods affected by a potential climate-related disaster that would affect their home, as per the latest sociological survey carried out by IRES for the National Association of Insurance and Reinsurance Companies in Romania (UNSAR)

EY Romania has recruited Carmen Sauer for the position of SAP Practice Director within the Technology Consulting Department.

More than a third of Romanians (34.3%) want to take out a loan in the coming months, of which almost 62% want a personal loan, according to a tbi bank survey among 1,057 respondents across the country.

E.ON Energie Romania has completed the construction and installation of a solar power generation system for the company Printmasters (in Maramures County), in the wake of a nearly EUR500,000 investment.

Romania's current account balance posted a deficit of EUR13.7 billion in January-August 2023, lower than the EUR18.5 billion level reported in the same period of 2022, central bank data showed on Friday (October 13, 2023).

Mihaela Lupu, currently Chief Financial Officer for Central and Eastern Europe within UniCredit Group, will be the new Chief Executive Officer (CEO) and Chairman of the Board of Directors of UniCredit Bank in Romania, starting with October 16, 2023.

Employees in the IT sector are considering looking for new jobs in order to mitigate the financial impact of the government's latest tax measures, as per a survey by online recruitment platform Bestjobs.

Instant.ro, the first AI-based platform in Romania that mediates second-hand car sales, has closed its first funding round, raising EUR300,000 from several investors.

Romania will in 2024 become a regional logistic hub for Noark Electric Europe, part of Chinese conglomerate CHINT, and the coming years are also likely to bring Noark production facilities in the local economy, explained Eugen Toma, country manager at Noark Electric Romania.

Donna Medical Center of Bucharest, a business set up in 2011 by Elena Claudia Teodorescu, a radiologist specializing in breast imaging, has opened a new clinic in Romania’s capital city, a women’s oncology center, in the wake of EUR250,000 investments.

In November 2013, PepsiCo’s plant of Popesti-Leordeni had 288 employees and one million snacks bags were churned out. Today, a decade later, the plant’s output has doubled, its number of employees tops 500 and in recent years the unit has been the target of EUR100 million investments in production lines, new technologies and a bigger warehouse.

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, continued to stagnate at 6.40% a year since early October, just like in September and in the second half of August 2023.

The seven mandatory private pension funds in Romania (Pillar II) generated an annual average yield of 18% between September 2022 and September 2023, for the 8 million Romanian participants.