Romania Feed

Around 95% of the companies in the outsourcing industry in Romania will implement a hybrid working system after the pandemic and 55% of industry employees will work 8-12 days a month from the office, a survey by Romania Business Service Leaders Association (ABSL) showed Wednesday.

Euro Auto Plastic Systems, the local subsidiary of French-held Faurecia, posted RON332.5 million (EUR69 million) revenue in 2020, 32% below the RON488.9 million (EUR103.2 million) in 2019, Finance Ministry data show.

IT giant Tech Mahindra, present in Romania since 2019, has extended its office space in Vox Technology Park Timisoara by an additional 1,500 square meters, reaching a total office area of 2,100 sqm.

KMG Rompetrol, the management and support division of KMG International Group, has extended its lease until the end of 2026 for offices in the City Gate compound in northern Bucharest.

Coffee shop chain Starbucks operated in Romania by Poland’s Amrest group ended last year with 54 stores, after three new openings and one closure, the annual report of the group says.

Belgian industrial developer WDP is investing EUR29 million acquiring land for new projects in the Bucharest area and the Transylvania region in Romania, it said in its first quarter earnings report released Wednesday.

The logistics and industrial space market has a potential for another 2.5 million to 3 million square meters over the next economic cycle, says Andrei Jerca, managing director of developer Element Industrial.

Feelings of isolation and loneliness, stress and uncertainty have affected people’s health during the pandemic, with 36% of the respondents to a PwC global survey stating that they had experienced symptoms of anxiety and depression. Of the survey respondents, 44% said they were interested in using virtual care solutions for resolving those issues, per the PwC report on Global Top Health Industry Issues 2021.

The net assets of the 224 domestic and foreign open-end and closed-end investment funds operating in Romania grew by 4% in March 2021, to RON47.6 billion (EUR9.7 billion), and by 7.1% since the beginning of 2021, the Association of Fund Administrators said Tuesday.

Lender EximBank has granted a financing of RON100 million to Prahova-based company Oltina Impex Prod Com, which operates in the milling and bakery sector.

Insolvent fiber optic cable producer Romcab Targu Mures (MCAB.RO) said in a stock market announcement on Tuesday that Valtecia Development, a company based in Targu-Mures and engrossed in buying and selling own real estate assets, filed a new bankruptcy request for Romcab.

The European Investment Bank (EIB) will grant a EUR250 million 27-year financing to Romania for a regional 850-bed hospital in Iasi, northeastern Romania.

The Bucharest Stock Exchange is a platform with useful information about BVB-listed companies, essential in the investment process, through which Bucharest Stock Exchange aims to increase the visibility of listed companies and facilitate investors' access to quality resources.

FintechOS, global technology provider for banks, insurers and other financial services companies, announced Tuesday it has raised $60 million (EUR51 million) in Series B funding.

Life insurance company Aegon Romania, part of Dutch group Aegon, had underwritings of RON134.5 million in 2020, up 13% on the year.

ASBIS Romania, the local subsidiary of Cyprus-based IT product distributor ASBIS, ended 2020 with EUR45.85 million revenue, an increase of 29% on the previous year, fueled by the greater demand for IT and cyber security products.

Restart Energy, the second largest independent supplier of electricity to household consumers in Romania, is listing its first bond issue on the Bucharest Stock Exchange Wednesday.

The second-hand fashion market in Romania is developing like the regular fashion market, so retail and chains are emerging. This market started taking shape in Romania more than a decade ago but did not go beyond the stand-alone no-name store phase for a long time.

International Finance Corporation (IFC), member of the World Bank Group, has granted a EUR72 million green loan to Romanian developer Iulius Group for the development of Palas Campus, an eco-friendly 60,000-sqm information technology complex in Iasi, northeastern Romania.

Romania's unemployment rate stood at 5% in 2020, compared with 3.9% in 2019, data from the country's statistics board showed Tuesday.