Romania Feed

Romania’s Financial Supervisory Authority, or ASF, has approved the request of the investment management firm Patria Asset Management to license a new open-end investment fund, called ETF Energie Patria-TradeVille, and register it in the public register of ASF, as per a press statement.

Lowe Group, one of the most important communications agencies in Romania, is launching Path, a unit specialized in analyzing and interpreting strategic data for its customers.

Adrian Negru will take over as the new Chief Executive Officer (CEO) of Raiffeisen Asset Management (RAM), which specializes in managing the investment funds of Raiffeisen Group in Romania, starting with February 1, 2023, the financial institution said in a statement.

Scandia Food, leader of the meat-based canned food market and a famed player in the local food industry, may fully acquire the company Carniprod Tulcea, one of Romania's leading meat processors held by entrepreneur Nicolae Ciuleac, with 282 employees and a turnover of RON68 million in 2022.

Innovation Labs – the national pre-acceleration and mentoring program for young entrepreneurs in the field of technology, said it would run the eleventh edition of the educational program in 2023, implementing a pre-program pilot component in Bucharest.

Romania's economy is expected to grow by 2.6% in 2023 and by 4.2% in 2024, according to the World Bank's Global Economic Prospects report.

Citi Romania has relocated its 200 employees in capital city Bucharest to its new headquarters in the capital, located in the Tiriac Towers office building.

The number of real estate deals in Romania stood at 59,864 in December 2022, 1,795 fewer than in November 2022, data from the national cadaster agency ANCPI showed on Wednesday (Jan 11).

Transelectrica (TEL.RO), the operator of the national energy transmission system, has announced the first tests with LiDAR technology as part of a project aimed at improving the development and maintenance processes of Romania’s electric transmission network (RET).

Luxury jewelry chain Teilor is expanding further on foreign markets by opening its four store in Hungary.

Romanian-held real estate developer Alsin Management will invest over EUR40 million in developing First Estates Pipera, the first housing project in Romania set to offer free heating to all its residents.

5 to go coffee shop chain, the biggest player in the field, ended 2022 with over EUR30 million turnover at group level, twice as high as the 2021 level and above early-2022 expectations.

Nova Vita hospital of Targu-Mures, one of Romania’s largest private hospitals, a business founded by entrepreneur Virgil Mailat, in 2022 generated EUR7.7 million turnover, 15% higher than in 2021.

Solarex Impex, a chemical fertilizer wholesaler, with over RON230 million turnover in 2021, is building a fertilizer plant in Preajba, Dolj county.

The mild winter so far, but also efforts to boost energy consumption efficiency in particular, have led to continued declines in electricity demand in 2023 as well.

MedLife (M.RO) has added another hospital to its portfolio after completing the acquisition of Muntenia Hospital in Pitesti, Arges County, from SIF Muntenia(SIF4.RO).

Fortis Games, a new US game studio established by global industry heavyweights, which made several acquisitions in 2022, among which the Metagame startup in Bucharest, plans to expand in Romania and grow its team to about 100 people.

GreenWeee, a home appliance recycling company, part of the Green Group, will open a new plant to collect such waste in the first part of this year.

Casa Noastra, the Dolj-based company that manufactures windows under the QFort brand, got 80% of its 2022 revenue from exports. The revenue stood at EUR170 million for Romania, Italy, France and Switzerland, an increase of almost 40% on the previous year, which makes 2022 "the best year in the company's history", according to Stefan Cherciu, the company's owner.

Precast concrete products manufacturer ASA CONS, based in Turda, ended 2022 with a more than EUR33 million revenue, its best performance ever. the company's history.