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Seven of ten biggest insurance companies in Romania registered profit in 2020, per finance ministry data. The most profitable insurer was Allianz-Tiriac, reporting profit of RON138 million, which, relative to RON1.65 million revenue, translates into a profit margin of 8.36%.

More than half of companies worldwide (58%) expect an increase in taxation in their organization’s country of residence, as a result of the effects produced by the COVID-19 pandemic, and 90% estimate more tax disputes due to the growing government deficits recorded in this context, according to the Deloitte 2021 Global Tax Survey: Beyond BEPS (Base Erosion and Profit Shifting). Almost half (45%) of respondents expect more rigorous tax controls in their parent’s jurisdiction as a result of the pandemic, and 65% say that the tax authorities of those countries are increasing the use of data gathering and data analytics tools.

Today, Business Review launches the fourth phase of its established Call For Leaders interview series, titled #Call4Leaders 4.0. The established 3-questions format has been updated, as the interviews will consist of four main questions that will be answered by some of the most important business leaders in Romania, and centered around the main 4 trends of […]

Health food delivery startup LifeBox is moving operations to a new production facility in the Apaca Complex in western Bucharest and has allocated a total investment of EUR900,000 for it.

Longin Mircea Draghicescu, one of the major landowners in Olt County, has increased his stake in Cerealcom Teleorman (CCOM.RO) to 69% through Longin SRL, according to an announcement published on the Bucharest Stock Exchange (BVB.RO).

Industrial production prices for the domestic and non-domestic markets grew by 6.3% in October 2021 versus September 2021 and by 26.8% in October 2021 versus October 2020, data from Romania’s statistics board INS showed Thursday.

Romania's seasonally adjusted unemployment rate reached 5.3% in October 2021, the same level as compared to September 2021, data from the country's statistics board INS showed Thursday.

Alpha Bank, a top ten lender in Romania by assets, posted pre-tax profit of EUR20 million in the first nine months, more than in the year-ago period.

Ovidiu Ghiman, one of the best-known executives in the local communications industry and former head of B2B unit of Telekom Romania group, has launched together with Felix Crisan and Bogdan Almasi, Ronin, a platform enabling start-ups and companies in other stages of development to launch crowdfunding campaigns where the minimum investment ticket is only EUR100.

Cristina Batlan, founder of Musette brand, a major player in Romania’s footwear sector, with production and retail activities, states that the company is still in dire need of personnel, both unskilled and skilled.

Most large banks reported rising profits in the first nine months of 2021 compared with the same period of 2020 amid the waning fallout of the coronavirus crisis and the declining risk charges and provisions, but also in the wake of rising lending and revenues.

Cluj-based dairy producer Bonas Import Export, listed on the Bucharest Stock Exchange in June 2021, in the first 9 months of this year posted turnover of around RON10 million, up 5.2% from the same period of last year.

Sonimpex Topoloveni, producer of Topoloveni plum jam, a company owned by entrepreneur Bibiana Stanciulov, expects to end 2021 with higher turnover from 2020, of above RON4.5 million, on the development of new products and rising orders during the winter period.

The Petromidia refinery, the most important asset of Kazakhstan’s KazMunayGas in Romania, as well as assets in the hydrocarbon production area of OMV Petrom, are on the radar of Poland’s PKN Orlen, a company in which the Polish government is the largest shareholder (27.5%).

Telecom operator Digi, controlled by businessman Zoltan Teszari of Oradea, announced it sealed the sale-purchase contract for its Hungarian operations with 4iG.

Impact Developer & Contractor, the real estate developer controlled by entrepreneur Gheorghe Iaciu, took out a EUR4.2 million loan from Garanti Bank, due in June 2024, to secure working capital.

Dan Ostahie, founder of computer and electronics retailer Altex, says the company will function on two budgets next year, one built on flat turnover, the second on 15% growth.

A number of 1,044 employees left the Romanian banking system and 184 subsidiaries and branches closed down in the period between the first nine months of 2020 and the first nine months of 2021, in line with NBR data.

Automotive industry wiring producer Leoni, part of Germany’s group Leoni, currently has 222 jobs available.

Cluj-Napoca-based cigarette wholesaler Punctual Comimpex, owned by entrepreneur Vasile Muresan, expects to end 2021 with total turnover worth RON 835 million (around EUR169 million), up 14% from last year, in line with ZF calculations based on company and Finance Ministry data.