Romania Feed

Covasna-based Balvanyos Resort will complete in late 2022 an investment project worth around EUR9 million meant to expand the accommodation capacity and area of the spa center.

Private healthcare services provider MedLife aims for EUR340 million pro-forma turnover in 2021 after the company has had a strong focus on acquisitions and clinched several deals that are now visible in its revenues.

Fondul Proprietatea (FP.RO), an issuer with exposure to strategically important companies in the Romanian economy, such as Hidroelectrica and OMV Petrom, on Monday evening notified the Bucharest Stock Exchange that Henry Mark Gitenstein had resigned from his positions in the fund’s Board of Nominees and all consultative committees.

Kazakhstan’s KMG International, which owns Rompetrol Rafinare (RRC.RO) notified the Bucharest Stock Exchange that no transaction was currently in a definitive stage with any of the potential partners.

tazz by eMAG delivery platform (the former online food delivery platform EuCeMananc) has put Daniel Kovats, Razvan Acsente and Mihai Brenda in charge of the Strategy, Business Development and Marketing Departments, effective December 2021.

On Tuesday (Dec 14), the Bucharest Court admitted the insolvency request of Romania’s National Uranium Company put in by Tinmar Energy, a firm held by businessman Augustin Oancea, according to Ziarul Financiar daily.

Liberty Steel Group has allocated EUR5.5 million towards the consolidation and automation of the Liberty Galati Hot Strip Mill, which this year celebrates half a century of continuous activity.

The Bucharest Stock Exchange on Monday announced that TEILOR Holding would list two bond issues on Tuesday (December 21).

The shares of One United Properties (ONE.RO) and Transport Trade Services (TTS.RO) shares are included in FTSE Russell indices for Emerging Markets, FTSE Global All Cap and FTSE Global Micro Cap, respectively, starting Monday (December 20).

Access to digital resources is essential today, when the pandemic is having an impact on all individuals as well as on the business world. That’s why digital inclusion campaigns are key to providing equal opportunities for everyone, regardless of background, age or physical ability.   Orange Romania has launched a campaign called Making technology accessible […]

Romanian ice cream producer Alpin 57 Lux on Monday said it appointed Petru Sopa to the position of commercial manager, effective December.

REHAU Group has appointed Uwe Böhlke to the position of Chief Executive Officer (CEO) of REHAU Industries, the new umbrella company that brings together the Building Solutions, Window Solutions, Furniture Solutions and Industrial Solutions divisions.

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, grew to 2.89% a year on Monday (Dec 20), up 2.4% from the level reported on Friday (Dec 17), per central bank data.

Ford’s assembly facility in Craiova has produced one million vehicles between 2009 and 2021, in the amount of EUR18 billion, of which over 95% went to export, in line with calculations by Ziarul Financiar daily, considering an average market price of EUR18,000, VAT included.

Evergent Investments (formerly known as SIF Moldova) wants to operate a reduction of the share capital by RON1.9 million and to carry out a buyback program of maximum 23.1 million shares, representing 2.402% of the share capital.

Financial analysts expect the Romanian leu will depreciate to an average of 5.1145 units to the euro in the next 12 months, while inflation is seen averaging 5.8% during the same period, a monthly poll by CFA Romania showed Monday.

Holiday spending resumes growth this year, with a 5% advance compared to 2020, after a 7% decline last year, but 68% of consumers expect higher prices than the previous season, according to Deloitte 2021 Holiday Retail Survey. On the other hand, a third of the traders participating in the survey are counting on a double-digit increase in holiday orders, while 43% estimate increases below 10%.

For this Christmas, Business Review has started a list of Romanian entrepreneurs and businesses offering Christmas packages and gifts. For those interested in some unusual jewelry, Business Review talked with Mihaela Speranța Cherciu, founder and designer of Atelierul de Portelan.   Mihaela creates small sculptures of leaves, arches, spirals and spheres climbing down from the walls […]

Foreign tourists who came on holiday in Romania in January-October 2021 spent around EUR2 billion, in line with data provided by the National Bank of Romania.

CTP, the biggest developer and manager of industrial and logistics space in Romania, has over 270,000 square meters under construction in Bucharest and in multiple regional cities, with Romania being a growth engine for the group, weighing 26% in total spaces underway at the level of its entire network.