Romania Feed

Luxury jewelry chain Teilor is reopening the store of shopping center AFI Cotroceni after a complete revamp under a new format, with this being the 13th unit included in the Oragne Concept Store concept.

Star Assembly and Star Transmission, the local units of Mercedes-Benz AG, will manufacture electric motors for the new EV range EQ.

Nestor, a local startup that developed a people intelligence platform, expects to end 2022 with twice as high revenues as in 2021 as 2022 has been a lucrative year for the company.

Furniture producer Taparo, part of Taparo group of firms founded by entrepreneur Ioan Filip, currently has 60 jobs available for the plants located in Borcut and Targu Lapus localities of Maramures county.

Cluj-based cosmetics manufacturer Cosmetic Plant reported RON11.9 million turnover last year, 6% above the 2020 level. This is the best level since the company was founded back in 1991.

Aerostar Bacau, a manufacturing and maintenance company in the aviation industry, currently has 280 jobs available.

Health insurance provider Signal Iduna plans to increase its revenues by over 15% in 2023, with efforts largely to focus on integrating the two companies it has acquired, namely Erdo Asigurari and Ergo Asigurari de Viata, maintains Tiberiu Maier, chairman of the company’s board of directors.

Roxana Manolescu, CEO of cold cuts producer Caroli Foods Group, says the company in 2022 has improved its logistic chain, so that a major project envisaged investments in a new logistic center, in Oarja.

Franklin Templeton International, the manager of Fondul Proprietatea (FP.RO), announced the start of an accelerated bookbuilding offering of its entire stake in OMV Petrom (SNP.RO), Romania’s only oil and natural gas producer, on the Bucharest Stock Exchange.

Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) said in a stock market report on Tuesday (Dec 13) that its Board of Directors decided to extend the mandate of Viorel-Sorin Ciutureanu as the company's interim Chief Executive Officer (CEO) for four months, starting January 1, 2023.

The e-commerce (electronic commerce) market in Romania, which witnessed an unprecedented boom in online sales during the pandemic, saw slower growth in 2022, as it was dominated by trends of “resettlement” in sales and “moderation” on the part of Romanian consumers, shows an analysis comprising the main findings of some of the leading providers of e-commerce solutions.

OMV Petrom and Romgaz submitted the statement of commercial discovery for the Neptun Deep block with Romania’s national agency for mineral resources ANRM, market sources said. The statement is important in the final decision-making process about an investment, attesting the economic viability of the project.

72% of Romanian employees say they already have flexible jobs and 97% consider flexibility to be one of the most important aspects, as per the latest survey by Mindspace, the global flexible office provider, which polled 1,470 employed people in Romania, Poland, the Netherlands, Germany, Israel, the UK and the US.

Green Genius, one of the main European renewable energy developers, part of Lithuania’s Modus Group, has signed the first solar power development contract in Romania, a EUR8 million project in Ulmi, Dambovita County (south of the country).

Automotive component manufacturer Hella Romania, the local unit of German-held company Hella, is set to open an engineering design and development center in the Palas Campus office project in the city of Iasi where it leased 1,300 square meters of office space.

Beyond the increasing of uncertainty, the conflict in Ukraine did not have visible effects on the local office market, but its aftermath – particularly the higher inflation and the rising cost of risk – is relevant, said Silviu Pop, Director CEE & Romania Research at Colliers.

Enel X Romania, part of Enel X Global Retail, the advanced energy services division of Italy’s Enel Group, will build a photovoltaic (PV) park with a total installed capacity of 2.5 MW for Romanian pharmaceutical manufacturer Antibiotice Iasi.

Romania registered again the highest value-added tax (VAT) gap among European Union (EU) Member States, with 35.7% of VAT revenues going missing in 2020, according to the European Commission's recent VAT Gap report for 2020.

The average net salary in Romania increased by 0.1% in nominal terms in October 2022 compared with September 2022, to 4,008 lei (EUR817), data from the country's statistics board INS showed on Tuesday (Dec 13).

Romania's annual inflation rate climbed to 16.8% in November 2022 as compared to November 2021, data from the country's statistics board INS showed on Tuesday (Dec 13).