Romania Feed

The staff policies of companies around the world increasingly rely on technology to fill the workforce shortage, with almost 60% of them estimating an increase in the use of artificial intelligence (AI), robots or chatbots and 37% foreseeing a more intensive collaboration with mobile app developers and providers over the next two years, as per the Orchestrating Workforce Ecosystems study conducted by Deloitte and MIT Sloan Management Review.

Software solutions provider LIFE IS HARD (LIH.RO), listed on the AeRO market of the Bucharest Stock Exchange, on Wednesday (August 31) said it ended the first half of 2022 with a turnover of RON12.4 million, up 20% on the year, and a net profit of RON1.6 million, up 335% versus the first six months of 2021.

eMAG Group is consolidating its management team in Hungary by appointing Daniel Spiridon to the position of CEO, effective September 1, 2022.

Romanian property restitution fund Fondul Proprietatea (FP.RO) ended the first half of 2022 with a net profit of RON4.1 billion, as compared to RON1.8 billion in the same period of 2021, the Fund said in its financial report sent to the Bucharest Stock Exchange.

Romania imported a quantity of electricity of 3.845 billion kWh in the first six months of 2022, higher by over 12% than in the same period of 2021, as per data from the country's statistics board INS.

More than 30% of company executives in Romania believe the new ways of working that have become more prevalent in the pandemic context, especially remote work, have made it easier to recruit talent from abroad, according to the EY Tax and Finance Operations Survey.

Czech investment management company EMMA Capital Group on Wednesday (Aug 31) announced that it successfully completed negotiations to acquire a 67% stake in the companies Get’s Bet and Club King which operate in the Romanian gambling market.

The number of Romanian companies and authorized private individuals (APIs) that filed for insolvency proceedings in the first seven months of 2022 was 11.14% higher than the level reported in the year-earlier period, with a total 3,932 insolvencies being recorded in January-July 2022, as per Trade Register data.

Romania's nuclear power producer Nuclearelectrica (SNN.RO) has announced that Unit 1 was reconnected to the National Power System on August 31, 2022 after the completion of repair works of the filtration system.

Lender Raiffeisen Bank listed on the Bucharest Stock Exchange on Wednesday (Aug 31) the first sustainability bonds issue worth RON500.85 million.

Meta Estate Trust, a holding company operating in the real estate sector, on August 29 entered the equity segment of the AeRO market which is the Multilateral Trading System of the Bucharest Stock Exchange.

Autonom Services, a mobility network controlled by brothers Marius and Dan Stefan, ended the first half of this year with RON239 million revenues, up 35%, and net profit of RON17.8 millio, 42% above the level of the year-ago period.

Romanian cable manufacturer Romcab Targu-Mures, a company undergoing judicial reorganization, for the first half of this year reported RON1.12 billion operating revenues, up 30%, amid 34% higher sales of end products.

Hidroelectrica, Romania’s largest state-owned energy producer and the most profitable state-run company, ended the first half of 2022 with RON4.7 billion revenues, up 48% year-over-year, and a net profit of RON2.6 billion, up 56% on the year, triggering a profitability margin of 55%.

Pharmaceutical manufacturer Sandoz SRL, owned by Swizz pharma company Novartis, ended 2021 with turnover worth RON451 million (EUR92 million), up 6% on the year, in line with ZF calculations based on Finance Ministry data.

Packeta Romania, part of the Czech group of the same name, has a EUR5 million investment budget for this year, with the money to be largely used to expand its pick-up point network.

Aquila, the leading player in the local market for integrated distribution and logistics services, in the first half of this year posted RON961 million revenues, up around 11% from the year-earlier period.

Transport Trade Services (TTS), the biggest integrated freight shipper on the Danube, listed on the Bucharest Stock Exchange (BVB) last year, generated net profit of RON61.3 million in the first half of 2022, up 124.5% from 1H/2021, in line with calculations based on BVB data.

Foraj Sonde Craiova (FOSB.RO), a local drilling company for the oil and gas industry, recorded a net profit of RON1.7 million in the first half of 2022, compared with a net loss of RON2.9 million in the same period last year.

Sipex (stock symbol SPX), a construction materials and finishes distribution company, ended the first six months of 2022 with a net profit of RON8.4 million, up 49.6% compared with the first half of 2021.