Romania Feed

Shareholders of regional investment fund SIF Muntenia (SIF4.RO) decided in their general meeting of November 15 to reject the request submitted by individual investor Behboud Madadi, aged 42, for the distribution of RON350 million as dividends from the retained result.

TEILOR, the chain of luxury jewelry stores present across the CEE region, has received a credit line and an investment credit in the total amount of EUR8.47 million from EximBank.

Luminita Florea, People & Culture Director at Philip Morris Romania, will be a speaker at BR’s upcoming Working Romania HR Conference, where she will talk about how PMI, an organization with more than 71,000 employees worldwide, of which 1100 only in Romania, has transformed over the years in order to perform in the new #futureofwork.   Luminița Florea is […]

Telecom operator Vodafone Romania on Tuesday reported service revenue of RON196.6 million for the third quarter of 2021, up 0.9% from the same period in 2020, according to results reported Tuesday by Vodafone Group Plc.

Hotel consultancy and valuation company Horwath HTL has valued the Nordis Brasov project and estimates a market value of more than EUR40 million after the hotel opens in November 2023

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 2.60% a year on Tuesday (November 16) from 2.59% a year on Monday (Nov 15), per central bank data.

Romanian brick manufacturer Cemacon Cluj Napoca (CEON.RO) said in its financial report released Tuesday that it ended the first nine months of 2021 with a turnover of RON133.6 million, up 40% on the year, and a net profit of RON42.6 million, up 88% from the level reported in the same period of 2020.

Andrei Frunza, CEO at BestJobs, will be a speaker at BR’s upcoming Working Romania HR Conference, on November 18. He will be part of Panel 1: Keeping an eye on the #futureofwork, starting at 10:00 AM.   Andrei Frunza is the CEO of BestJobs, one of the leading online recruitment companies in Romania, since September 2021. Andrei […]

Romania’s national commission for prognosis and statistics kept its projections for the country’s GDP growth at 7% in 2021, but it revised downwards its GDP forecast for 2022, at 4.6%, from 4.9% envisaged in its summer forecast.

Long gone are the days when business processes were slow and manual, and nothing could have been done regarding it. Just by taking a quick look into how today’s businesses operate, it’s quite obvious there has been a big shift to automation and decentralization. Companies are automating their processes as they understand there are numerous […]

Romania's gross domestic product (GDP) grew 7.2% in real terms (in unadjusted data) in the third quarter of 2021 as compared with the third quarter of 2020, and by 8.0% in seasonally adjusted data, the country’s statistics board INS said Tuesday.

Patria Bank ended the first nine months of 2021 with net profit worth RON7.2 million, up 20% from the same period of 2020, mainly supported by the favorable trend of operating revenues and the lower operating expenses that led to 66% higher operating profit.

Large wind and solar energy projects worth above EUR400 million got the green light in October to connect to Transelectrica grid.

Uber Romania has expanded its services to 7 new cities in 2021, getting to a total number of 13 cities, and in the next two years the expansion pace should be similar with this year’s, explained Ana Maria Borlovan, country operations manager at Uber Romania.

Computer and electronics retailer Altex plans to expand its logistics area by at least two regional centers, in Moldavia and Banat.

Hilton Garden Inn hotel located in Bucharest’s old town, controlled by Lithuania’s Apex, expects turnover to reach EUR3 million this year, from EUR2 million in 2020, according to the company’s officials.

Maria Necsulescu, Jidvei deputy general manager, expects RON200 million turnover from wine sales alone in 2021.

Ford Europe wants to bring a shared services center to Bucharest and will lease 6,000 square meters of office space at first, adding more as it develops, according to property market data.

Financial investment company SIF Banat Crisana (SIF1.RO) sold shares in Erste Bank (EBS.RO) - the Austrian group that owns BCR in Romania - for about EUR15 million euros (RON75 million) in the third quarter of 2021, according to ZF's calculations from the quarterly report sent to the Bucharest Stock Exchange on Monday evening.

Corrugated cardboard manufacturer Vrancart Adjud (VNC.RO), a company in which the Paval brothers - founders of the most powerful Romanian entrepreneurial business, Dedeman, have a 17% stake, ended the first nine months of 2021 with RON270 million revenue and RON10.5 million net profit.