Romania Feed

merXu, an online B2B trading platform for companies in Central and Eastern Europe, has announced a Series A funding round led by Prosus Ventures, with participation from existing investors Accel and Point Nine.

September brought a corporate lending rebound, after the August slowdown. Banks operating on the Romanian market granted new RON-denominated loans of RON3.77 billion to companies, up 31.6% from August 2021.

Romania’s hotel industry is in full swing and by 2024 another 15 hotels are due to be opened, with a total number of 2,000 rooms, reveals a ZF analysis based on a report by STR hospitality industry research company.

Belgium-held real estate developer Speedwell, which built Record Park mixed project of Cluj and Triama housing project of Bucharest, wants to enter the industrial space market and develop platforms in major cities of Romania.

Businessman Ovidiu Tender, owner of Vulcan platform of southern Bucharest, is in talks to sell the 25-ha land plot to a group of investors, according to real estate market sources.

Catalin Grigoriu, the entrepreneur who owns Bacau-based Moldova Farming, a grain farming and agricultural input distribution business together with Paval brothers, says he’s not considering expanding the agribusiness activity to other countries, but strengthening its nationwide position in the next 3-5 years.

Building materials producer Megaprofil, controlled by Joris Ide, part of Kingspan group, one of the biggest companies in the field, boosted turnover by 83% in the first 9 months of this year and is aiming for EUR44 million by yearend, according to the company’s officials.

Four-star hotel Capital Plaza, opened in 2009 and controlled by Romanian entrepreneurs, forecasts flat turnover in 2021 year-on-year.

ArcelorMittal Hunedoara (SIDG.RO), a steel mill owned by ArcelorMittal, ended the first nine months of 2021 with a net loss of RON17.9 million, compared with a net loss of RON31.4 million in the same period of 2020, on sales of RON485.9 million lei, 76.6% higher than in the year-ago period, according to calculations by ZF.

Lender Banca Comerciala Romana has lowered its economic growth projection for Romania to 6.4% in 2021, versus 7.4% previously, after the country’s statistics board INS revised its GDP data on Tuesday (Nov 16).

Lender Raiffeisen Bank has revised downwards its economic growth projections for Romania to 6.2% from 7.5% previously after the country’s statistics board INS released the GDP data for the third quarter of 2021, on Tuesday (Nov 16).

Romanian state-run oil transporter Conpet Ploiesti (COTE.RO) on Tuesday said it ended the first nine months of 2021 with a net profit of RON42 million, up 14.2% on the year, a turnover of RON313.3 million, up 3.1% on the year, per stock market data.

AFFIDEA ROMANIA launches a strategic partnership with SanoPass, the largest digital platform that integrates medical prevention and fitness services in Romania and the Republic of Moldova. The 1 million patients of Affidea and Hiperdia centers will now be able to access all medical services directly from the digital platform.   The partnership between the two […]

La Lorraine Romania, one of the largest bakery and pastry factory in the country, celebrated 10 years of activity at a time marked by new expansion plans with regards to both the production capacity and the team. The event took place on Thursday, November 11, in Câmpia Turzii, with the participation of the Belgian Embassy […]

Romania manufactured 333,179 vehicles in the first ten months of 2021, fewer by 6.5% than 356,491 units in the same period of 2020, data from the country's carmakers association ACAROM showed Tuesday.

TEILOR, the chain of luxury jewelry stores present across the CEE region, received a credit line and an investment credit in the total amount of 8.47 million euros from EximBank. The capital granted by the bank will be used for the acquisition of jewelry stocks and investments in the premium setup of stores that TEILOR […]

Marius Antonie is the new Associate Partner in our Technology Consulting practice. In his role of Digital Transformation Lead and Head of Intelligent Automation CoE, Marius will enhance our existing capabilities in the area of Intelligent Automations taking hyper-automations to the next level of digital transformations, extending the use of cloud and new technologies and […]

Real estate developer Hagag Development Europe consolidates its local portfolio and announces the acquisition of Susai Hotel, a property located in Predeal, Romania’s most proeminent mountain resort. The company is considering investments of about 60 million euros for the renovation and modernization of the asset, which continue to serve the hotel segment.   Currently in […]

EVERGENT Investments, the investment company with the largest capitalization (1.417 billion lei), reports a historical result: the total value of assets of 2.599 billion lei. While the net result is 180.3 million lei, composed of 82.4 million lei net profit and 97.9 million lei net gain from the sale of assets reflected in the carried […]

Shareholders of Elefant Online, which operates online retailer elefant.ro, on Tuesday approved an increase in the company’s share capital by the equivalent in lei of EUR2 million and the unfolding of a private placement of leu-denominated bonds which will be held in the coming period with the support of Tradeville.