Romania Feed

The 500 largest family businesses in the world are vital to the health of and are growing faster than the global economy. Collectively, they generate US$8.02 trillion in revenues and employ 24.5 million people worldwide across 47 jurisdictions, high enough to be the third largest national economy by revenue, behind the US and China, according to the 2023 EY and University of St.Gallen Family Business Index.

Romgaz (SNG.RO), a natural gas producer and supplier controlled by Romania’s Energy Ministry, estimates that it will pay RON906 million as a so-called solidarity tax that the Ciuca Government implemented through an emergency ordinance at the end of 2022 and which taxes the windfall profits of oil and gas companies.

The Bucharest Stock Exchange (BVB) is expanding the BVB Research Hub platform by enlarging the number of companies covered by research reports, to include most of the companies in the BET index, as well as other companies.

Romanians registered 129,328 new passenger cars in 2022, up 6.7% from 2021, placing Romania 13th in Europe, in line with data from the country’s carmakers association ACAROM and ACEA.

Bucharest’s four-star hotel Cismigiu, one of the monument buildings of the city, controlled by Spain’s Hercesa, ended 2022 with EUR1.5 million turnover and for 2023 has budgeted EUR1.7 million, a level close to the 2019 one.

AROBS Transilvania, the biggest technology company listed on the Bucharest Stock Exchange, has announced the acquisition of the entire stake in Centrul de Soft GPS SRL, known on the market under the CDS brand, a Romanian provider of fleet management solutions.

Almost 240,000 square meters of new malls, shopping centers or expansions overall are likely to be delivered this year, triple from 2022, when 82,800 square meters of retail spaces were delivered, in line with Colliers.

Romanian pharmaceutical producer Antibiotice Iasi has budgeted RON580 million revenues for 2023, up 11% year-on-year and RON42 million net profit, 10% higher than in 2022.

Birth rate decline has become one of the most obvious problems Romania is currently coping with.

SafeTech Innovations, a Romanian-held cybersecurity company, received approval from the Financial Supervisory Authority (ASF) on Tuesday to transfer from the AeRO market to the main segment of the Bucharest Stock Exchange.

The Trident dental clinics in Bucharest generated RON20 million revenue in 2022, an increase of 34%, and the plans of entrepreneur Florin Lazarescu, a dentist by profession, are to boost the patient capacity in each clinic. New technology acquisitions - scanners and milling units - are also on the list of targets to continue the digitization strategy in dentistry.

The modern commerce universe exceeded the threshold of 4,000 stores in 2022 after the big retail chains opened more than 400 new units and closed some 20 units.

Romanian regional investment fund SIF Banat Crisana is summoning its shareholders on February 24, 2023 to change its name into Lion Capital.

Brick maker Cemacon Cluj-Napoca (CEON.RO) said in a stock market report on Tuesday (Jan 17) that Paval Holding, the real estate investment vehicle of the Paval family (owners of DIY retailer Dedeman), had bought RON194,000 worth of shares from stock market investors at the trading session of Jan 13, 2023.

Since the pandemic, more companies have adjusted to remote working and despite people being back in the office, employees around the world are looking for more flexible roles.

The Romanian art market followed an upward trend in 2022, supported by the emergence of new generations of collectors oriented towards investment and return, as well as by the accessibility of online auction channels, says Artmark auction house.

NEPI Rockcastle, a leading investor and developer of commercial property in Central and Eastern Europe and the largest shopping mall owner in Romania, obtained a green loan worth EUR60 million, for Ploiesti Shopping City, from a banking syndicate led by BRD Groupe Société Générale.

The vast majority (73%) of Chief Executive Officers (CEOs) expect the global economy to shrink in 2023, according to the PwC CEO Survey.

The capital market in Romania managed to reach new all-time highs on three levels of liquidity after the year 2022 was marked by volatility and uncertainties, registering new highs at the level of total trading value, average daily liquidity, and number of transactions.

The Bucharest Stock Exchange (BVB) informed on Wednesday (January 18) that BNETR16 pre-emptive rights issued for the share capital increase carried out by Bittnet Systems (BNET) will be trading on its Main Market.