Romania Feed

Travel agency Weco Travel, one of the largest on the local market, which provides business travel services to companies, estimates that this year it will overshoot the RON80 million revenue mark, a level reached in the reference year 2019, as well.

Craiova can attract new investments in the automotive industry beyond the almost EUR500 million euros already announced by Ford Otosan after the takeover of the plant.

Romania's finance ministry raised RON937.8 million on Thursday (Nov 3) through two government bond issue, at annual average yields of 8.50% and 9.44%.

The management of One United Properties, the leading investor and developer of residential, mixed-use and office real estate in Romania, on Thursday announced investors of the decision of the Board of Directors dated November 1 whereby it was approved the share capital increase by RON185.1 million.

Turism, Hoteluri, Restaurante Marea Neagra (EFO.RO), a company listed on the Bucharest Stock Exchange and 78.6% controlled by Transilvania Investments Alliance (TRANSI), has called its shareholders for a meeting on November 29, 2022 to approve the lease or sale of assets on the Romanian Black Sea coast as part of a program to turn real estate assets into cash.

IULIUS Group announces that Palas Campus, the largest office building in Romania the group is developing in the city of Iasi, has already been fully leased before its commissioning scheduled for the first quarter of 2023.

Connections Consult (CC.RO), listed on the AERO market of the Bucharest Stock Exchange and the leader of the digital transformation market in Romania, has announced the acquisition of a 25% ownership stake in the edtech company 10 Plus Future Education SRL.

Delgaz Grid, the natural gas and electricity distribution company of German utility group E.ON in Romania, sets off in November a pilot project to test the compatibility and operation of utility facilities and distribution system components with a mixture of natural gas and hydrogen.

The value of the largest real estate investments in Romania exceeds EUR4 billion in the second half of 2022 and the sector of logistics and industrial parks remains the most effervescent with projects engulfing investments worth over EUR500 million.

The Bucharest Stock Exchange will use the eVOTE platform for electronic participation in the General Shareholders' Meetings.

ING Bank Romania said it would continue to grant state-guaranteed and subsidized loans to Romanian entrepreneurs for the third consecutive year, within the IMM Invest Plus 2022 program.

Romanian PR and strategic communications agency Lighthouse has joined Crisis Communication Network Europe (CCNE), becoming the sole Romanian member of the group and the first in Central and Eastern Europe (CEE).

Romania’s unemployment rate stood at 5.2% in September 2022, higher by 0.1 percentage points than 5.1% in August 2022, data from the country’s statistics institute INS shows on Thursday (Nov 3).

The American Chamber of Commerce in Romania (AmCham Romania) welcomes the decision to set up a Romanian Agency for Investments and Trade and expresses its confidence for a swift operationalization of this structure, in an institutional architecture that will ensures a positive impact similar to that in the countries where it such agency works successfully.

Visual Fan, a company listed on the Bucharest Stock Exchange, owner of Allview brand, has increased its stake in Intervision Trading, the exclusive wholesaler of AKAI brand in Romania and CEE, by acquiring a further 10% in its stock. Visual Fan now holds 61% in Intervision Trading.

OMV Petrom on Thursday announced the completion of the share capital increase operation, with the new level of RON6.23 billion, being registered with the Trade Registry.

Raiffeisen Bank, the local subsidiary of the Austrian group of the same name, for the first nine months of 2022 reported RON920 million net profit, up 43% from the year-earlier period.

Local startup easySales, which which set up an automated B2B management and e-commerce platform, expects to reach annual recurrent revenues of around EUR700,000 at end-2022 as its team is now focusing more on medium-sized and large customers.

OMV Petrom, the only local oil and gas producer, posted RON2.9 billion operating result on the gas and energy segment for the first nine months of 2022, almost seven times higher than in the year-earlier period.

Gas production in Romania reached 6.7 billion cubic meters In the first nine months of the year, up slightly from 6.6 billion cubic meters in the same period last year, data provided by the national natural gas transmission company Transgaz show.