Romania Feed

Romania is on the investment radar of Italian companies, as a number of Italian businesses operating in Russia and Ukraine are looking into options to relocate their plants abroad, not just because of the war but also to shorten their value chains and ensure greater resilience, says Italian Ambassador in Bucharest Alfredo Durante Mangoni.

Only 28% of Romanians have benefited from pay raises in 2022, 47.1% of them have received salary increases of up to 5% and 36.8% have seen increases of 5% to 10%, as per a survey conducted by CEC Bank in partnership with banking comparator FinZoom.ro.

Hidroelectrica celebrated 50 years since the commissioning of the most important objective on Romania’s inland rivers – the Lotru hydropower plant.

Fortech, one of the leading providers of software services in the region of Transylvania, with regional offices in Romanian cities of Iasi, Oradea and Brasov, has signed an agreement to sell the business to GlobalLogic, a Hitachi Group company and Digital Engineering leader.

Sodexo Benefits & Rewards Services (BRS) Romania has appointed Florentina Ciontea to the position of Human Resources (HR) director.

Porsche Engineering, a supplier of technological services and the local subsidiary entirely held by Porsche, has announced the opening of an office of over 2,000 square meters within the United Business Center building of Iulius Town, a project developed in the city of Timisoara by IULIUS Group and Atterbury Europe.

SafeTech Innovations, a Romanian cybersecurity company listed on the AeRO market of the Bucharest Stock Exchange, for the first nine months of 2022 reported RON5.3 million net profit, up 134% year-on-year.

International Finance Corporation (IFC), the World Bank’s private investment arm, has granted a EUR40 million loan to Garanti BBVA Romania (GBRO) for the funding of mortgages destined to green housing and green loans for house refurbishment.

Corrugated cardboard manufacturer Vrancart Adjud, a company in which Paval brothers, the founders of Dedeman, hold a 17% stake, registered RON410.1 million total revenues in the first nine months of 2022, up 51.5% above the 2021 level.

Dumagas, one of the largest freight forwarders on the local market, controlled by investment fund Bancroft, will end 2022 with EUR38 million turnover and switch to profit after reporting losses in 2021.

Paint maker Köber of Neamt county has bought a 20,000-sqm land plot in the industrial area of Deva with the aim of developing a regional logistic hub.

The Board of Directors of Sphera Franchise Group (SFG.RO), the operator of the franchised KFC, Pizza Hut and Taco Bell restaurants in Romania, called a General Meeting of Shareholders for December 8, 2022, a document submitted to the Bucharest Stock Exchange shows.

Impact Developer & Contractor (IMP.RO), the first real estate company listed on the Bucharest Stock Exchange, announced establishment of its own architecture and design firm – Impact Alliance Architecture (IAA).

The probability of a major cyberattack ranks second, after the global recession, in the top five scenarios that Central and Eastern Europe (CEE) CEOs, including those in Romania, are integrating into their resilience plans for 2023.

Blue Air announced that the company's shareholders had been contacted by representatives of the Authority for State Assets Management (AAAS) to hand over 75% in the airline to the Romanian government.

Romania’s Competition Council has approved a transaction whereby Electromontaj, which specializes in constructions for energy projects, acquired in September construction company Hidroconstructia and the companies it controls, respectively Hidroturism and Hidroedil.

Nine Romanian entrepreneurial companies with a combined turnover of over EUR335 million and some 3,150 employees received the Deloitte Best Managed Companies certification for management excellence assessed against international best practices, at the end of the program’s first edition in Romania, organized in partnership with Banca Transilvania.

The European Commission has approved an aid scheme worth approximately EUR500 million (RON 2.5 billion) notified by Romania to support businesses across all economic sectors in the context of the war in Ukraine.

The Romanian public sector accounted for 23% of total job vacancies in the third quarter of 2022 and the manufacturing industry accounted for just over one quarter of the total number of vacancies (11.6 thousand vacancies), as per a survey published by the country's statistics board INS.

Agricultural holding ROCA Agri RDF, which owns the companies RDF Agricultura and Adidana Agricultura, estimates consolidated revenue of EUR132 million at the end of 2022.