Romania Feed

Romania's economy will grow by only 0.5% in 2023, says Wood, the largest brokerage firm in Central and Eastern Europe, in an analysis. However, there may be pleasant surprises, Wood believes.

Romania's finance ministry raised RON1.55 billion on Thursday (January 12, 2023) through two government bond issues, at annual average yields of 7.60% and 7.49%.

IT services company Inetum Romania, part of French Inetum Group, announces the appointment of Patrice Gautier to the position of Managing Director, replacing Nicolas Boitout, as per a press statement.

The volume of transactions with commercial real estate assets worth at least EUR5 million totaled around EUR1.25 billion in Romania in 2022, 40% more than in 2021, of which almost EUR600 million represents the volume transacted in the fourth quarter of 2022 alone, according to an analysis by real estate consulting firm JLL.

Seven out of ten Romanian employees say they would change their job for a higher salary and almost three out of ten employees would forgo their current job for higher job security, as per a survey conducted by MKOR Consulting.

Three out of four employees want to change their job in 2023 and most of them are worried about having to take on more tasks if employers resort of job cuts, according to a survey by online recruitment platform BestJobs.

The Embassy of Saudi Arabia in Bucharest relocated its Official Headquarters to an iconic building in Dorobanti area of the capital city Bucharest, in the vicinity of the Charles de Gaulle Square.

Digitail, a local startup that developed an all-in-one software platform for veterinarians, on Thursday (Jan12) said it raised an investment of $11 million in a Series A funding round led by UK’s fund Atomico.

Real estate developer Globalworth, one of the leading investors in office space in Central and Eastern Europe, has signed financing contracts for two new credit facilities worth EUR160 million, with Erste Group, through Erste Group Bank and lender Banca Comerciala Romana (BCR).

Modus Create, an international digital transformation consulting firm, has acquired Clarisoft, a Romanian software engineering company with deep expertise in custom product development for enterprises, according to businesswire.com.

Local company Connections Consult (CC.RO), which specializes in providing software solutions and IT services, has appointed Radu Marcu to the position of Executive Director (co-CEO).

Six hotels rated 2*, 3* and 4*, located in the seaside resorts of Eforie Nord and Eforie Sud, will be put up for auction starting with January 25, 2023, according to representatives of investment fund Transilvania Investments.

Raiffeisen Bank is the first bank in Romania to enhance business financing through a synthetic securitization under a new cooperation with the European Investment Bank (EIB) and the European Investment Fund (EIF) which will boost access to finance and strengthen the resilience of small and medium-sized enterprises (SMEs) and mid-caps companies in Romania.

Electric vehicle (EV) sales in the US, China and Europe will outpace all other engines three years sooner than previously expected, according to new EY research and analysis.

Romania's gross domestic product (GDP) grew by 1.2% in real terms (in unadjusted data) in the third quarter of 2022 as compared to the second quarter of 2022, provisional (2) estimates from the country’s statistics board INS showed on Thursday (Jan 12).

The average net salary in Romania increased by 3.3% in nominal terms in November 2022 compared with October 2022, to 4,141 lei (EUR839), data from the country's statistics board INS showed on Thursday (Jan 12).

Romaero Bucuresti, a strategic company for Romania’s aerospace and defense industry owned by the Romanian state, through the Economy Ministry, with 56.7% in stock, wants to boost its share capital by a maximum of RON34.4, to RON51.7 million.

Farmec Cluj, the largest Romanian-held cosmetics maker, in 2022 posted turnover of above RON290 million, higher than in 2021, says Mircea Turdean, the company’s CEO and stakeholder, without providing more specific figures.

Leroy Merlin, a top three player on the Romanian DIY market by revenue, posted RON3.4 billion sales in 2022, which translates into an increase of more than 30% compared with the previous year, the company’s CEO Frédéric Lamy says.

Romania needs more than 2,500 cybersecurity specialists to fill the staff shortage currently faced by companies in the industry after three years of accelerated digitization, Andrei Avadanei, CEO of cybersecurity company Bit Sentinel, told ZF.