Romania Feed

Stomatology clinic network Life Dental Spa has budgeted investments of above EUR2 million to open at least five new clinics and aims to double its turnover, to more than EUR20 million, in 2023.

Real estate developer STC Partners got a EUR6 million funding from Banca Transilvania to develop the first phase of housing compound Quartier Azuga located in Doamna Ghica area, with the phase due to be completed in the first half of 2024.

Andrei Rusu, general manager of Ensana Health Spa Hotels group, the former Danubius, which owns three hotels in Sovata resort, says the group expects RON82 million turnover in 2023.

One United Properties is now focusing on developments in the office, commercial and housing segments, but also plans to expand on the hotel one, says Victor Capitanu, co-founder and co-CEO of the company, and Bucharest is the primary location for these developments.

Romanians spent EUR6.5 billion on vacations abroad in the first eleven months of last year, and the whole-year spending will most likely overshoot the EUR7 billion mark, ZF has calculated from the latest central bank data for January-November 2022.

Hidroelectrica, Romania's largest energy producer, will put several investment projects in several of its key units worth more than RON1 billion to a vote at a general meeting of shareholders in the middle of next month, public data show.

Eazy Asigurari, the first insurtech in Romania to recently receive the approval of the Financial Supervisory Authority (ASF), plans to invest EUR50 million over the next three years, with the main lines of business being the auto, property and health areas and could start issuing policies in the second quarter of 2023, Theodor Alexandrescu, chairman of the Board of Directors of Eazy Asigurari, said on ZF Live.

Romania’s Competition Council is looking into a transaction by which Elit SRL plans to acquire the company Good Meat Production SRL

Romania's finance ministry raised RON2.2 billion on Monday (Jan 16, 2023) selling bonds maturing in February 2032, at annual an average yield of 7.68%.

Sergiu Oprescu, Executive President of Alpha Bank Romania and General Manager of the International Network of the Alpha Bank Group has been appointed Deputy Chairman of the European Mortgage Federation (EMF) for the mandate 2023-2024.

Dubbed ‘Blue Monday’, the third Monday of the new year is considered by experts as the most depressing day of the year due to frequent weather changes, the end of the festive season and low motivation levels, as per a survey conducted by online recruitment platform BestJobs.

UK’s Vodafone Group, one of the largest global players in the communications industry, decided on November 22, 2022 to increase the share capital of its Romanian subsidiary by RON500 million, a document it published in the Official Gazette of January 13, 2023 shows.

Romanian software producer Softbinator Technologies said it recruited and appointed Vlad Deliu as Chief Financial Officer on a group level.

America House, the Iconic Class A office building, located in the heart of Bucharest CBD, is the first – Class A office building in Bucharest to obtain an OUTSTANDING rating according to BREEAM In-Use certification methodology, after a major investment of 10 million euros.

The European Bank for Reconstruction and Development (EBRD) and the Bucharest Stock Exchange (BVB) are launching a new Investor Relations and Liquidity Support Program in Romania, to improve capital market visibility and stock exchange liquidity of up to three selected issuers.

The investors already active on the local real estate market are interested to consolidate their positions, but one can notice the absence of investors from a specific part of the world, says Mihnea Serbanescu, general manager of real estate consultant Cushman & Wakefield Echinox.

Romania's final electricity consumption reached 47 billion kilowatt-hours (kWh) in January-November 2022, lower by 6.8% year-over-year, while the final electricity consumption in the local economy fell by 5.9%, the country's statistical office INS said on Monday (Jan 16, 2023).

UniCredit Bank, which is part of the UniCredit Group and one of the major banks in Romania, is listing on Monday (January 16,2023) the first corporate bonds issued this year, worth RON488.5 million.

Dacia Mioveni and Ford Otosan Craiova, the two car plants in Romania, manufactured more than 509,000 vehicles in 2022, 21% more than in 2021 and 3.9% more than in 2019, as per data from the country's carmakers association ACAROM.

Kosarom group, founded by Neculai Apostol, ended 2022 with EUR94 million turnover and expects EUR101 million turnover in 2023, according to the founder.