Romania Feed

Romanian company Footprints for Retail, which operates a Retail Media platform, has closed its first funding round and attracted a EUR500,000 investment, with the company being now valued at EUR5 million.

Financial analysts part of CFA Romania estimate the Romanian currency will decline to an average exchange rate of 5.1021 unit per euro in the next 12 months, while the estimated inflation rate will register an average value of 10.68%, slightly up from October, when the analysts anticipated it would hit an average value of 10.56%.

Romania is on Polish retailer Answear’s shortlist for the development of a logistic hub in southeast Europe, together with Bulgaria, explained Raluca Radu, country manager at Answear Romania.

Businessman Claudiu Aron, owner of Alpin 2003 company, which manages hotel compound Alpin Resort hotel, one of the biggest tourism players in Poiana Brasov resort, says 2022 has been a good year for tourism and the compound he runs will generate EUR11.5 million turnover, above the budgeted level.

In 2022, SHC group of restaurants will generate turnover worth RON50 million (EUR10 million), 30% above the 2019 level.

Home appliances manufacturer De’Longhi Romania, the largest exporter in Cluj County has 240 jobs available, mostly for unskilled workers at its espresso machine plant in Jucu, the Cluj county employment agency (AJOFM) data show.

Romanians spend RON4.3 billion on cold cuts a year, an indicator that has increased in the last few years and first half data of research company Market Vector show a slight rise of 2.2%.

A new IFC investment in UniCredit Bank S.A.senior bonds issues, representing a part from the total of $80 million approved amount in relation to UniCredit Bank’s Euro Medium Term Notes Program, will help increase access to finance for green housing in Romania, including green mortgages and green home improvement loans, supporting the country’s climate goals.

Law firm Wolf Theiss has advised AFI Europe on obtaining a EUR450 million credit facility for the purposes of refinancing its three shopping centers in Romania – AFI Cotroceni in Bucharest, AFI Ploiesti and AFI Brasov.

Elit, one of Romania’s biggest cold cuts producers, ends 2022 with a total number of 2,000 employees at its four production units in Alba, Arad and Bucharest and plans to keep boosting its staff along with the development of the future high-capacity logistics platform in Alba Iulia.

GoIT, the international company for beginner IT training courses, which started its activity on the Romanian market almost two months ago, estimates a turnover of EUR50,000 at the end of 2022.

The shareholders of Sphera Franchise Group (SFG.RO), the operator of the KFC, Pizza Hut and Taco Bell franchises in Romania, have approved the proposal of the Board of Directors to distribute dividends worth over RON20 million from the undistributed net profit of 2020.

Orange Romania has expanded its 5G network coverage to two more towns, namely, Targu Mures and Miercurea Ciuc.

The lawyers of the Capital Markets practice of law firm Clifford Chance Badea, the local office of global law firm Clifford Chance, assisted UniCredit Bank in the launch of its latest corporate bond issue.

German-owned discount store chain Penny, one of the most active retailers in Romania, continues its expansion plans by opening 13 new stores in December 2022, reaching a total 36 new units in 2022.

Romanian wine producer Crama Liliac, owned by amb Wine Company, expects a 17% increase in turnover in 2022 after selling 383,000 bottles of wine in the first eleven months of 2022, close to total sales of 2021 when its turnover reached EUR1.7 million.

The financing for tech startups in Romania reached EUR226 million in the first ten months of 2022, 36% more than in 2021, despite the high inflation and the macroeconomic situation, a report by SeedBlink and Horvath Consulting on the market trends, the main actors and the impact of the platform in Central and Eastern Europe shows.

One United Properties (ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, continues its investments in urban regeneration with a new acquisition: an unfinished, abandoned building in Bucharest's old town, which will be turned into a five-star lifestyle hotel – One Plaza Athénée.

The rampant inflation has affected Romanians’ budgets for holiday presents, as the amount allocated in 2022 is 40% lower than last year’s, according to the latest survey carried out by online recruitment platform BestJobs.

The increase in labor, real estate and energy costs places Romania eighth as the most attractive manufacturing markets in Europe, after the Czech Republic, Poland, Hungary or Portugal, according to the Manufacturing Risk Index 2022 survey conducted by real estate consulting firm Cushman & Wakefield.