Romania Feed

Bookstore chain Carturesti, held by Nicoleta Dumitru and Serban Radu, ended 2022 with EUR55 million sales and expects growth of 10% to 20% in 2023, its officials say.

Publicis Groupe, a marketing, communications and digital transformation group, present on the Romanian market for over 25 years, has announced the acquisition of Advertise BG, one of the leading performance marketing agencies in Bulgaria.

The volume of deals with land intended for commercial real estate projects in Romania (excepting the traditional industrial and logistics projects) reached approximately EUR450 million in 2022, lower than EUR800 million in 2021, according to estimates by real estate consulting firm Colliers.

The General Assembly of the Romanian Banking Association (ARB) convened on Monday (January 10, 2023) and voted on the new structure of the Board of Directors following the filling of a vacant member position.

Low-cost airline Wizz Air on Tuesday (Jan 10) said it would close its base in Bacau (eastern Romania) and will relocate its capacity to other routes with higher demand.

WEBCON, one of the leading global companies that deliver an Enterprise Low-code Application Platform (LCAP) for business process automation and management, has decided to expand its operations in Romania and increase its market presence, both organically and together with Romanian partners and clients.

Romania’s finance ministry has signed three financing contracts worth over EUR260 million with the European Investment Bank (EIB) for the modernization of roads and the rehabilitation and expansion of 26 hospitals to prepare them for potential future pandemics and also to support the overloaded public hospital sector.

Romania's central bank has decided at its board meeting on Tuesday (January 10), its first monetary policy meeting of 2023, to raise its benchmark interest rate by 0.25% percentage points to 7% a year from the current rate of 6.75% a year, starting January 11, 2023.

Delgaz Grid, the natural gas and electricity distribution company of German utility group E.ON in Romania, is investing RON79 million in upgrading the power distribution network and implementing SMART meters in Neamt County, using European Union funds.

Romanian startup Vatis Tech, which created a speech recognition platform for audio-video content processing, announces a new funding round worth EUR650,000, company representatives said in a statement.

Half (53%) of employees expect their salaries to increase in 2023 and 40% plan to look for another job unless this happens in the context of rampant inflation, according to a survey conducted by Undelucram.ro, Romania’s largest online employee community.

The Bucharest Stock Exchange has updated the selection criteria for BET, BET-TR and BET-TRN indices by including a new mechanism through which new companies can be added to the indices.

The shift to hybrid work from remote work, together with the fact that a rising number of employees will be tempted to take up a second job to boost their revenues on the long term are the main labour market directions in 2023, reveals an eJobs report.

German manufacturer of wiring harnesses for the automotive industry and electrical systems Kromberg & Schubert Romania NA, the local subsidiary of the German group Kromberg & Schubert, currently has 80 jobs available at the plant of Nadab, Arad.

Comes of Savinesti, Neamt county, a supplier of heat-transfer and pressure equipment and spare parts for chemical, petrochemical, oil and gas industries, ended 2022 with EUR15.5 million turnover and for 2023 projects 20% higher turnover amid new contracts.

Cristian Preotu, founder of Le Manoir group, active in the field of fine gastronomy, is set to invest EUR2 million this year in three new projects.

The rising number of deals in the second half of 2023 and the declining supply, at least in Bucharest, will lead, on a longer-term basis, to a new price increase, with effects particularly in 2024 and 2025, believes Daniel Crainic, a marketing manager at Imobiliare.ro platform.

Automotive wiring maker Leoni Wiring Systems Pitesti, part of Germany’s Leoni, has 250 jobs available for unskilled workers and engineers, among others, at its wiring plant in Bascov (near Pitesti), Arges County, the county employment agency (AJOFM) website says.

Romania's finance ministry raised RON1.9 billion on Monday (January 9, 2023) through two government bond issues, at annual average yields of 7.73% and 6.8%.

Law firm Dentons advised a syndicate of lenders - Erste Group Bank, Banca Comerciala Romana, Raiffeisen Bank International, Raiffeisen Bank Romania and Alpha Bank Romania, in the granting of a EUR450 million non-recourse secured loan to companies in the AFI Europe group to refinance their portfolio of shopping centers in Bucharest, Brasov and Ploiesti.