Romania Feed

The global economy seems to be settling into a regime of “stagflation” in the short term, where economic stagnation and rapid price rises coexist and, at the same time, the possibility of a global recession is becoming clearer, as per a Coface analysis.

Online supermarket Sezamo, part of Czech group Rohlik, has launched its e-groceries services in Bucharest and part of Ilfov county in the wake of EUR6 million investments.

Romanian cosmetics producer Farmec Cluj Napoca is opening a new Gerovital store in Bucharest, in Mega Mall shopping center, thus reaching 21 units under the brand.

TESLA Group, a producer of energy equipment and energy storage systems, is set to bring Terra storage battery for commercial use to Bucharest next Friday during the Solar Energy Bucharest Summit event.

Dacia’s Mioveni plant is still “on the cards” for a production capacity increase from 350,000 to 400,000 units, but decisions to this end are delayed by car part supply chain problems still hurting production.

Fast-food restaurant chain Mesopotamia has already set its name on the space of Bucur Obor where an Auchan unit operated previously.

The cosmetics and perfumery market in Romania will grow by 2.3% on average a year until 2026, an analysis by Virtual Board, a management information democratization platform that integrates artificial intelligence solutions into management consulting, shows. By comparison, the average annual pace in 2015-2021 was 3.1%, according to the same source.

Local airports registered 6.7 million passengers this summer, a 2.6% decrease compared with the same period in 2019, a reference year for the aviation industry, data from the Romanian Airports Association show.

Romania's finance ministry on Monday (Oct 17) reopened a bond issue due in 2034 and borrowed RON493 million from banks, above the planned level of RON400 million, at an annual average yield of 9.33%.

Romanian high-performance computing startup Amsimcel said on Monday, October 17, that it attracted EUR 4.8 million in blended financing through the European Innovation Council (EIC) Accelerator.

Shareholders of aluminum producer Alro Slatina (ALR.RO) are expected to approve in their Extraordinary General Meeting due on Nov 23 the company’s contribution in cash, in the amount of EUR43.5 million, in establishing a joint venture in order to build a power plant of 850 MW at Isalnita.

Romanian consulting firm Krugman & Partners has opened offices in New York and Bucharest in 2022, entering the market of competitive intelligence and cybersecurity, which has been booming over the last years.

CE Oltenia will hold 59.9% in the company that will build the gas-fired power plant in Isalnita, representing a contribution of EUR65 million to the project, and the selected investor, Alro, will hold 40.1%, accounting for a contribution of more than EUR43.5 million.

Transavia, the largest poultry producer in Romania, has announced the conclusion of a partnership in the field of green energy with electricity supplier Electrica Furnizare, part of Electrica Group, which stipulates, in a first phase, the installation of 6,480 photovoltaic (PV) modules at ten Transavia locations in the area of Brasov (central Romania).

Stock indices posted sharp declines in September 2022, sending most international equity markets into correction territory at the end of the first nine months as investors’ fears about rising interest rates and the possibility of a recession in developed markets gain momentum.

International rating agency S&P maintained Romania's rating at BBB-/A-3, with a stable outlook, due to an expected improvement of the country's fiscal imbalances over the next years and to upcoming reform under the recovery and resilience plan.

Romania's nuclear power producer Nuclearelectrica (SNN.RO) said in a stock market report on Monday (Oct 17) that Unit 1 was reconnected to the national power grid on the evening of October 16, 2022 after the completion of adjustment works.

Automobile Dacia and Ford, Romania’s two carmakers, in the first nine months of 2022 manufactured 381,971 passenger cars, up 21.2% from the year-earlier period, in line with data provided by ACAROM, the association of automotive manufacturers in Romania.

Poland’s PayPo, which provides an alternative payment solution of the buy now pay later type for online retailers, has recently entered Romania’s market with a EUR20 million investment budget.

Austrian group Wienerberger in the first six months of 2022 posted EUR58.1 million revenues in Romania, up 25% from the year-earlier period, in line with ZF calculations based on company data.