Romania Feed

Almost 500 rooms in hotels set to operate under international brands will be delivered on the market this year in Brasov, Cluj-Napoca and Timisoara in the wake of total investments put at over EUR50 million, in line with a ZF analysis based on market data.

Travel agency Paralela 45 posted about EUR39 million sales last year, 140% higher than in 2020.

Kastamonu Romania (formerly Prolemn), controlled by Turkey's Kastamonu Entegre, posted EUR169 million revenue in 2021, up 24% on the previous year, the company said. Kastamonu’s revenue stood at RON658.7 million (EUR136.7 million) in 2020, according to data on the Finance Ministry website.

Brandocracy, a consulting platform in branding and strategic marketing, has tripled its revenue in the last two years, ending 2021 with a turnover of RON1.3 million.

Shareholders of Romanian electricity supplier Electrica Furnizare, part of state-owned utility group Electrica (EL.RO), plan to discuss approving a total ceiling of short-term financing in the amount of RON1.5 billion to be contracted in 2022, which will be used for the company’s current activity.

Bathroom furniture maker Savini Due, controlled by Italian businessman Piersante Savini, has invested EUR12 million to expand the production capacity with two new industrial halls at its factory in Sebes.

Twenty-two companies listed on the Bucharest Stock Exchange obtained over 9 at VEKTOR evaluation regarding their communication with investors.

Online retailer Elefant Online will start trading its bonds worth almost RON17.5 million on the Multilateral Trading System, under the ticker symbol ELF26, on February 1, 2022.

ALRO S.A. (ALRO.RO), one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, announces that the Company’s management is focusing on finding solutions to restore the electrolytic aluminium production at the 2021 level starting with 2023 subject to energy prices on the market.

Global C-level business leaders are increasingly concerned about climate change, according to Deloitte CxO Sustainability Report, as 79% of respondents see the world at a tipping point for responding to climate change, compared to just 59% eight months ago.

Atout Capital, an independent M&A (mergers and acquisitions) advisory company, specializing in M&A for small and medium-sized enterprises (SMEs), enters the Romanian market.

Real estate developer Iulius, founded by businessman Iulian Dascălu, is investing EUR40 million in the expansion of the Iulius Mall in Suceava by 14,000 square meters. Investment in the project will therefore amount to EUR110 million translated into over 65,000 square meters of retail space.

Serge Offers will take over the position of Head of Business Banking and Deputy CEO of lender ING Bank Romania starting February 1, 2022.

Iulius Mall will have the largest retail area in the northern part of the country, exceeding 65,000 sqm, following the expansion by another 14,000 sqm * new fashion brands present for the first time in this region, restaurants with open-air terraces, leisure facilities, and services * in addition, the park and recreational area *expansion of […]

Httpool strengthens Twitter partnership as the digital giant joins Aleph Group as an equity holder.   Twitter Inc. (TWTR) is the first of Silicon Valley companies to join Aleph Group, a global company bringing together IMS, Httpool, Wise.Blue, AdDynamo as a stakeholder to support Aleph’s educational endeavors in pursuit of their mission to power the […]

Law firm Filip & Company has provided legal assistance to Romania’s Ministry of Finance alongside law firm Linklaters in an early repurchase and partial switch of three series of U.S. dollar-denominated bonds maturing in 2022 (6.750% coupon), 2023 (4.375% coupon), and 2024 (4.875% coupon) and in the launch of a new bond issue in two tranches, worth a total USD$2.4 billion.

 Humans.ai, a deep-tech company building the next-generation blockchain platform that brings together an ecosystem of stakeholders around the use of AI to create at scale, announces its partnership with Next Chymia Consulting HK, one of the main investors in the company and well-known investment fund supporting commercial ventures that aim to revolutionize their industries, using […]

The Bucharest hotel market saw the highest growth among capital cities in the region of Central and Eastern Europe (CEE) in terms of revenue per available room (RevPAR) in 2021, mainly driven an increase in the occupancy rate, in line with an analysis by real estate consulting firm Cushman & Wakefield Echinox.

Mihaela Antonescu, currently Chief Operating Officer (COO) at Wavemaker, will be taking over as Chief Executive Officer (CEO) of the agency, starting April 2022.

The Bucharest hotel market has the highest growth among CEE Capitals in terms of revenue per available room (RevPAR), mainly driven by occupancy, during last year as a result of lift/ease on travel-related restrictions and the re-scheduled event from 2020 to 2021 (i.e. European Football Championship, concerts and other sport events). The dynamic of the […]