Romania Feed

Aluminum aircraft parts manufacturer Universal Alloy Corporation, a member of the Montana group controlled by Austrian entrepreneur Michael Tojner, ended last year with RON411 million (EUR85 million) revenue, compared with RON471 million (EUR97.8 million) the previous year, Finance Ministry data show.

SIF Hoteluri (CAOR.RO), a company in which SIF Banat-Crisana (SIF1.RO) owns the majority stake, has notified shareholders of the sale of the DoubleTree by Hilton Hotel in Oradea, according to a report to the Bucharest Stock Exchange.

The Profi chain has reached an almost equal number of partner and integrated stores, after the company signed the contract for its 800th partner store in Viseu de Sus, Maramures County.

Alpha Bank Romania joins the four new governmental programs whose main priorities are to dynamize local production, support constructions, including the “green” area, to stimulate productivity and competitiveness in the agricultural sector, and to support projects with innovative and digital components: IMM Prod, Garant Construct, Rural Invest and Innovation.

Most German-held companies in Romania currently have a good financial situation and continue to rate their business expectations as unchanged, but are pessimistic about the local economic development over the next 12 months, as per data from a business questionnaire conducted by the Romanian-German Chamber of Commerce and Industry (AHK Romania) in April 2022.

VOS Logistics Cargo, the local subsidiary of Netherlands’s VOS, posted RON473.6 million (EUR96.3 million) revenue in 2021, an increase of 9% on the previous year, ZF has calculated from Finance Ministry data.

Romanian company Alira Grand Vins, founded in 2016 by entrepreneur Patrik Simek, has opened a winery in Constanta County (south-eastern Romania) following an investment of over EUR5 million.

Agroland Business System (AG.RO), the Romanian retail, agriculture and food entrepreneurial group which owns the largest network of agricultural stores in Romania, has obtained nearly EUR120,000 in grant funding under the SME AGRI-FOOD program (working capital grants) launched by the Ministry of Entrepreneurship and Tourism.

Antoniu Panait, the Managing Director of Vastint Romania, is set to become a speaker at Business Review’s Rising Cities. Smart Future 2022, where he will open the first panel of the day titled “Challenges and opportunities for a sustainable environment within a modern city.” Join him and an entire line-up of top speakers at the premier smart […]

Glovo will be moving its head office in Romania to a space leased in the second phase of the U•Center office project developed by Forte Partners in Bucharest’s Tineretului area.

Home appliances producer Arctic, held by Turkey’s Arçelik Group, ended 2021 with a record turnover of RON3.5 billion (EUR700 million), 30% higher than in 2020.

Automotive parts and accessories wholesaler Inter Cars Romania, part of Poland’s Inter Cars Group, posted about RON1.3 billion (EUR264.2 million) revenue in 2021, an increase of 35.6% on the about RON958.3 million (EUR198.1 million) of 2020, Finance Ministry data show.

Romanian parcel delivery company Sameday, owned by eMag, expects revenue of over RON700 million in 2022, up almost 18% from the level recorded in 2021, in line with data from company representatives.

Liberty Galati, the largest steel producer in Romania, ended 2021 with a turnover of RON9.3 billion (EUR1.9 billion), double against RON4.6 billion (EUR964 million) in 2020, as per finance ministry data.

Ramona Chiriac, Head of the European Commission’s Representation in Romania, is set to become a keynote speaker at Business Review’s upcoming Rising Cities. Smart Future 2022 edition, on June 9 at the Courtyard by Marriott Bucharest Floreasca. Register here for the on-site event, and join her and an entire line-up of top speakers at the premier smart city event in Romania! […]

BCR, TradeVille and Swiss Capital were the most active brokers on the Bucharest Stock Exchange in May 2022, jointly accounting for 42.9% of total intermediations, respectively brokered deals worth RON820 million, as per calculations by Ziarul Financiar (ZF) daily based on stock market data.

I think we all agree that we are going through a complicated situation for the economy and society, characterized by growing risks and uncertainty, and in the near future, the chances of this situation changing are relatively low, because of the overlapping crises we face. By Leonardo Badea, Deputy Governor of the National Bank of […]

Telekom Romania Communications, the former fixed telephony monopoly Romtelecom, returned to net losses and posted lower revenue in 2021, the year it became part of France’s Orange Group, which bought the majority stake from Deutsche Telekom, after the latter’s decision to leave the Romanian market.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, surged to 6.05% a year on Monday (June 6) from 6.01% a year on Friday (June 3), as per central bank data.

The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading asset management company in Lithuania, on Monday said it would set off activities in Romania as it plans to invest almost EUR120 million in the development of solar photovoltaic (PV) parks it has recently acquired.