Romania Feed

The furniture industry, one of Romania’s main export sectors, saw a 2% decline in production in the first ten months of 2022 as compared to the same period of 2021, amid price increases and loss of customers against the backdrop of the war in Ukraine which “erased” customers from Russia.

Romania’s airports reported a total 21 million passengers for 2022, 87.53% more than in 2021 and almost threefold more than in 2020, in line with data from the Romanian Airports Association, or AAR.

Romanian business managers expect relative stability of activity and in the number of employees in manufacturing and services sectors, alongside robust price increases in retail trade, in line with a survey by the country’s statistical board INS.

Retailers are preparing for a possible economic crisis, according to an analysis by Romanian email marketing agency White Image.

Blugento, a company based in Cluj-Napoca and specialized in providing e-commerce solutions based on the Magento platform, expects a 40% increase in turnover at the end of 2023.

The National Commission for Strategy and Prognosis (CNSP) said in its winter forecast that it expects a slowdown in Romania’s economic growth to 2.8% in 2023 and a significant decline in the annual inflation rate to 8% at the end of 2023.

Europe emerges as the largest producer of green hydrogen, with a 30 percent share in the world production, due to its ample, low-cost renewables capacity, in a race for decarbonization aiming at transforming by 2030 industries with high carbon footprint such as heavy industry, refinery, aviation, road freight and sea transports, according to the Deloitte study “Hydrogen. Making it happen”.

Paver maker Elis Pavaje plans to have its new plant in Arad, which it opened in 2022, operate at capacity this year.

The management of real estate developer Impact Developer & Contractor (IMP.RO) notified the capital market about the establishment of Impact Alliance Moldova, a construction company responsible for all the group's projects in the Moldavia.

Romania's finance ministry raised almost RON8 billion on Thursday (January 26, 2023) through two government bond issues, at annual average yields of 7.39% and 7.10%.

Wizz Air has announced new routes from Romania’s capital city Bucharest to Luxembourg and Skiathos, and from the country’s western city of Timisoara to Zakynthos.

The year 2023 will probably be a period of rebalancing on the real estate investment segment, after the record highs in 2022, and the logistics and industrial segment remains one of the most dynamic real estate sectors, according to consultants of real estate consulting firm Colliers.

The Bucharest Stock Exchange has announced that the shares of Safetech Innovations, a company present on the capital market since 2021, will start trading on the Main Market on Monday (Feb 6, 2023), following the transfer from the AeRO market, the equity segment of the Bucharest Stock Exchange’s Multilateral Trading System.

eduKiwi, an online course platform launched by digital marketing agency Kiwi based in Romania's western city of Timisoara, reported a turnover of EUR5.71 million in 2022, up over 320% year-over-year, company representatives said in a statement.

Exonia Holding, a group that includes the biodegradable paper packaging manufacturer by the same name, plans to list on AeRO market of the Bucharest Stock Exchange, following a private placement in September and October this year, says founder and CEO Tiberiu Stoian.

Romania’s national guarantee fund for small and medium-sized businesses (FNGCIMM) and the Association for the Development of Local Entrepreneurship (ADAA) concluded a collaboration protocol to mutually promote their programs and projects in support of SMEs, entrepreneurs and the entire business environment.

8 Romanians out of 10 would change their job for higher incomes and better development opportunities, according to a study carried out by Boston Consulting Group, one of the world's largest business consultants, and The Network, supported in Romania by BestJobs, partner of The Network for 12 years.

Wolf Theiss acted as legal advisor to Raiffeisen Bank International AG (RBI) and its subsidiaries in CEE in nine Debt Capital Markets trades in three jurisdictions, Austria, Romania and Hungary, in the second half of 2022, with a total issue volume of over EUR 2.5 billion.

Over half of Romanian employees (59%) are worried about the impact of economic uncertainty on their job security, according to the twentieth edition of Randstad Workmonitor.

Financial analysts part of the CFA Romania association expect the Romanian leu will depreciate to an average of 5.0636 units to the euro in the next 12 months, while the annual inflation is seen averaging 10.27% during the same period.