Romania Feed

Romanian state-owned hydropower producer Hidroelectrica proposes the distribution of RON1.3 billion as dividends from its 2020 accounting net profit of RON1.45 billion, which means a distribution rate of 90%, per calculations by Ziarul Financiar from data included in the summoning note released Monday on the company’s website.

Telecom systems integrator Deltatel, based in western city of Timisoara, has accessed a financing of RON5 million from Raiffeisen Bank, which is 90% guaranteed by EximBank, within the COVID-19 state aid scheme intended for large companies.

Counsel Group Frankfurt (CGF), specialized in providing software services and solutions, which owns offices in the cities of Bucharest and Iasi, continues its local expansion and is about to invest EUR700,000 in buying a new office space, of about 400 square meters, in Iasi.

The Romanian capital market is breaking record high after record high this year as investors trading on the Bucharest Stock Exchange (BVB) have contributed to the growth of the market to new all-time highs. Romania’s benchmark index, BET, and its equivalent including dividends, BET-TR, reached new all-time highs at the end of the first quarter this year.

Insolvent fiber optic cable producer Romcab Targu Mures (MCAB.RO) said in a stock market announcement on Monday that Valtecia Development, a company based in Targu-Mures and engrossed in buying and selling own real estate assets, filed a new bankruptcy request for Romcab.

The average net salary in Romania fell 0.9% in nominal terms in February 2021 compared with January 2021, to 3,365 lei (around EUR683), data from the country's statistics board showed Monday.

Roofing manufacturer Wetterbest seeks to expand to new export markets, after having become part of Ireland’s Kingspan group last year, following the sale of the Steel division by TeraPlast.

Germany’s Kaufland group, the leader of the local retail by sales in 2019, according to the latest publicly available data, has a more than EUR375 million investment budget for this year, 25% higher than in 2020 and almost double the 2019 level.

Italy’s De’Longhi beat Arctic for the first time in 2020 and became the leading exporter of home appliances in Romania.

Brasov-based real estate developer Qualis Properties start trading its first bond issue on the Multilateral Trading System (MTS) of the Bucharest Stock Exchange on Friday (April 9), under the ticker symbol QUAL24E.

Rompetrol Well Services (PTR.RO), the oil services division of Rompetrol Group, said in a stock market report Friday that it had received from KMG International NV, as its majority shareholder owing 73% of the share capital, a request completing the Agenda of the Ordinary General Meeting of Shareholders convened on April 26 (27), 2021 regarding the distribution of dividends.

Moody´s Investors Service ("Moody´s") on Friday upgraded to A3 from Baa2 the rating of the mortgage covered bonds issued by Alpha Bank Romania S.A., worth EUR200 million and launched by the lender in 2019.

OMV Petrom (SNP.RO), the largest Romanian oil and gas company, said Thursday in a report its total hydrocarbon production stood at 138,900 boe/day in the first quarter of 2021, down 7.5% compared with the first quarter of 2020.

Romania's state-owned natural gas producer Romgaz Medias (SNG.RO) said Friday it has suspended for two weeks its notice of termination for the construction of the Iernut power plant.

The number of job seekers in Romania grew 70% in the first quarter of 2021, while the number of job openings remained stable at around 70,000, data from recruitment website eJobs showed Friday.

The pandemic dealt a serious blow to the exercise industry in 2020, when the entire market shrank by 40% to 50%, and 10% of the companies in this business did not make it, the representatives of Romania Active, the association of employers in the health and fitness sector say.

Romania's trade balance posted a deficit of EUR3.07 billion in the first two months of 2021, higher by EUR456 million compared with the first two months of 2020, data from the country's statistics board showed Friday.

Household consumers became the stars of the energy system in 2020, as working and learning from home or the newfound love of cooking took the residential demand for power to record volumes.

Alstom Transport, Spedition UMB and Sa & Pe Construct are the winners of the three largest public procurement contracts last year, when the top 20 such contracts were worth more than RON6.5 billion.

The stores in Romania and Cyprus of Greek-held toy retailer Jumbo doubled their sales in the first quarter of 2021, compared with the same period of 2020.