Romania Feed

Romania's finance ministry raised RON423.1 million and EUR120.6 million, respectively (values amounting to just over RON 1bn – EUR 206.6mn) through the ninth primary offer for the sale of government securities dedicated to retail investors (FIDELIS) held in the last three years using the Bucharest Stock Exchange systems.

Meta Estate Trust, a holding company operating in the real estate field, listed on the Bucharest Stock Exchange in late August, registered net profit of around RON700,000 in the first six months of this year, marking the transition from the loss of the first 9 months of activity.

Radu Timis Jr., CEO of CrisTim, one of Romania’s largest meat producers by turnover, controlled by Radu and Cristina Timis, expects the company’s turnover to go up by around 18-20% this year, also due to inflation.

The pet food and accessories market in Romania appears to be immune to the looming economic crisis, as specialist retailers continue development, even doing it at a fast clip, and when it comes to consumer spending, Romanians are buying cheaper food for them but not for their pets.

The latest BestJobs survey shows that 53% of Gen Zers and 45% of Millennials prefer earning more money in order to maintain a comfortable, carefree lifestyle to enjoying more vacation days.

Aquila Part Prod (AQ.RO), the leading player on the fast-moving consumer goods (FMCG) distribution market, has summoned its shareholders for October 14 to approve the distribution of a special gross dividend of RON0.02632 per share, as per the summoning note published at the Bucharest Stock Exchange.

Car parts producer Preh Romania, a division of the global supplier to the automotive industry, has leased 4,500 square meters of office space within the United Business Center (UBC), the Class A office component of the Palas Iasi mixed-use project developed by IULIUS Group.

PwC Romania has assisted grocery retailer Profi in the process of digital transformation and optimization of its Human Resources Department by implementing the SAP SuccessFactors solution which supports the basic HR processes such as recruitment, administration, performance and talent management.

Local start-up XVision, which has developed a platform based on artificial intelligence algorithms that helps radiologists in reviewing and interpreting medical images, whose products are used by 100 public and private institutions in Romania, Poland, Hungary, Slovakia and Croatia, is changing its brand identity to Rayscape, its officials said.

AVBS Credit, a Romanian broker for banking services, intermediated sales of bank and non-bank loans in the amount of EUR42.5 million in the first seven months of 2022, 17% more than in the same period of 2021, for some 1,000 customers, in line with data provided by the company.

MedLife, the largest private medical services operator on the Romanian market, on Wednesday (Sept 21) announced the appointment of Alina Irinoiu as MedLife’s Chief Financial Officer (CFO), starting with October 1, 2022.

Romanian state-run lender CEC Bank has launched a multicurrency card whereby customers have direct access to accounts in ten currencies and can make payments to merchants and withdrawals without fees and costs associated with currency exchange.

The share of employees across the globe who have seen their roles change following the implementation of intelligent automation solutions continues to rise and reaches 34% versus 23% in 2020 as per the latest edition of Deloitte Automation with Intelligence survey conducted in 34 countries, including Romania.

Agra Asigurari, the company that introduced digitalization in the agricultural insurance sector, has announced the launch on the Romanian market of a platform intended for brokers for issuing agricultural policies.

Sun Wave Pharma, a company specializing in the production of natural supplements, set up in 2008, has ambitious growth plans locally, in Romania, but also in the region, in ECE, where it wants to expand. For the next 3-4 years, the company’s plan is to open its own plant in Romania, said Bedros Kalfayan, Sun Wave Pharma CEO, in an interview with ZF.

Car parts manufacturer Coindu Romania, part of Portuguese group Coindu, currently has 75 jobs available for unskilled workers in the textile industry at its plant of Curtici, Arad county.

Sortilemn Gherla, a major local supplier to Sweden’s IKEA, in the first half of this year generated EUR21.3 million turnover, up 19% from the year-earlier period, in line with ZF calculations based on company data.

Freight forwarder IB Cargo, which delivers freight for clients in the automotive, FMCG, pharma, agriculture sectors and others, estimates it will end 2022 with EUR70 million turnover, from EUR60 million last year, according to the company’s officials.

Real estate developer Impact Developer & Contractor (IMP.RO) has signed loan agreements with OTP Bank NYRT and OTP Bank Romania, it said in a report to the Bucharest Stock Exchange.

Bioclinica, one of the largest players in the market of medical laboratories and collection centers, posted RON230 million (EUR47 million) last year, up 46% on the previous year, ZF has calculated based on information reported to the Finance Ministry by the two largest companies in the group.