Romania Feed

As part of Groupe Renault’s Renaulution strategy, Dacia unveiled Thursday its 5-year plan and presented the Bigster Concept, a 4.6 meters SUV.

Only 4.4 million passengers passed through the Otopeni (Henri Coanda) Airport in Bucharest in 2020, compared with almost 15 million in 2019. The decline therefore stood at 70%, reflecting the disastrous impact of the pandemic on the travel industry.

The road transportation industry suffered as a result of the pandemic, as well as due to the new European regulations in 2020. It dropped 13% to 43.6 billion lei compared with 2019, according to ZF estimates based on market data.

NN Pensii, the largest Pillar II pension fund in Romania, bought into Prosus, which owns eMAG, the largest online retailer in Romania, with 127 million lei and invested RON97 million in French payment processor Worldline, as well as RON92 million in Spanish pharmaceutical company Grifola in the third quarter of 2020 (July, August, September), its quarterly report shows.

ThoughtWorks, a global software consultancy company based in the US, announced Thursday it has acquired Gemini Solutions, a software development and consulting services firm whose development center is in Romania.

Romania's annual inflation rate stood at 2.1% in December 2002, the same as in November, and in line with the central bank's forecast, data from the country's statistics board showed Thursday.

The Board of Directors of Romania's state-owned natural gas producer Romgaz Medias (SNG.RO) on Wednesday revoked Adrian Volintiru from the position of Chief Executive Officer of the company.

Pharmaceutical distributor Farmaceutica Remedia Deva (RMAH.RO) said Wednesday in a stock market report that Valentin Norbert Tarus, the company’s CEO and majority shareholder, and SC Tarus Media SRL, a company 51% held by Norbert Tarus and 49% by Ashton Monica Manuela, sold 10.6 million shares (10% of the share capital) on January 12, at RON0.6 per share, within deals worth RON6.4 million, per calculations by Ziarul Financiar.

Romanian nuclear power plant operator Nuclearelectrica (SNN.RO) said Wednesday in a stock market report that it would receive a non-refundable grant of $1.3 million from US-TDA that aims to fund the cost of services required in connection with the delivery of technical assistance related to identifying and performing a preliminary assessment of new potential small and modular nuclear technologies (SMR) compatible nuclear sites in Romania.

ENGIE Romania, the largest player on the Romanian natural gas distribution and supply market, has completed the acquisition of a photovoltaic park, consisting of two farms, with a total installed capacity of 9.3 MW.

Confidence among private equity (PE) firms has hit its lowest level since the global financial crisis as a result of the COVID-19 pandemic, but deal-doers these days are more optimistic than they were during the 2008 crisis. By Claudiu Vrinceanu   Private equity specialists forecast a decline in market activity and worsening economic conditions given […]

Foreign direct investments (FDI) have had a consistent contribution to the modernisation of the Romanian economy over the last 21 years, but they are no longer on the radar of decision makers or large private organisations in Romania today. We hear a lot of talk about entrepreneurship, which is healthy for the economy, but Romanian […]

Macromex, leader in the food industry in the temperature-controlled segment, announces the construction of the second warehouse, Corso Distribution Center, located in Chitila. The cost of the investment amounts to EUR 15 million and is financed both from personal funds and from a long-term investment loan offered by Alpha Bank Romania.   Logistic and distribution […]

Romanian carmaker Automobile Dacia, owned by French group Renault, saw a 30% decline in its worldwide sales, down to 520,765 vehicles, per company data, as quoted by Ziarul Financiar (ZF).

Cristiana Belodan, one of the top Romanian executives in advertising, joins Oxygen as Strategy & Transformation Director. Her responsibilities include integrating all resources under the company’s new positioning as a full-service agency, developing and strengthening Oxygen’s services, as well as managing the Strategy and Creative departments.   As a member of Effie Romania’s jury and […]

The activity of entities from the United Kingdom, including those authorized in Gibraltar, which notified the provision of banking, payment and electronic money services in Romania, through branches/agents/distributors or directly, has ceased on lack of an authorization granted by the National Bank of Romania or by an authority in the European Union.

Macromex, a food distribution business held by Romanian Dan Minulescu, on Wednesday said it would start the construction of a second distribution center, named Corso Distribution Center.

Romania's current account balance posted a deficit of EUR9.763 billion in January-November, compared with a deficit of EUR9.655 billion in the same period in 2019, central bank data showed Wednesday.

Real estate developer Iulius Group is developing a new retail concept, Family Market, and will invest EUR16 million for two such projects in the city of Iasi and Miroslava, a neighboring township.

Romania's finance ministry has drafted an emergency decree extending a nine-month moratorium on bank loan repayments for debtors affected by the pandemic, after the previous moratorium expired at the end of 2020.