Romania Feed

President and Chairwoman of Exim Bank US Kimberley Reed will arrive in Bucharest Monday to discuss the agreement between the bank and the Romanian government for the financing of energy and infrastructure project, said US ambassador Adrian Zuckerman.

Druid, the only company in Romania specialized in developing AI chatbots, and PwC Romania announced Friday an agreement with supermarket chain Profi for the automation of its HR processes using chatbots.

Hidroconstructia, one of the largest builders in Romania, plans to hire more than 100 foreign workers next year, to add to those it is already employing.

Mailing services company Pink Post expects growth of 10% in revenue year-on-year in 2020 and expanded its range of services so it also delivered cards for the customers of the banks it works with, says chief executive Cristi Petcu.

Romania is one of the main European suppliers of the major British fashion brands Debenhams, Topshop, Dorothy Perkins and Wallis, which have announced store closures or filed for insolvency in the past week.

Insurance companies Groupama Asigurari, Uniqa Asigurari, Uniqa Asigurari de Viata and the Pool of Insurance against Natural Disasters (PAID) Romania have established the Romanian Employers Association in the Insurance Industry (PIAR).

Romanian airline Blue Air on Thursday said it would launch flights from the “Avram Iancu” Cluj international airport to London Heathrow and Amsterdam starting March 1, 2021.

Investment fund GapMinder Venture Capital has carried out an additional investment of $550,000 in local startup Deepstash, which facilitates the identification, collection and organization of ideas of interest for companies, and also tracks negative feedback in social media.

TradeVille, a broker with an experience of over 25 years on the stock market, reduces the minimum trading commission from EUR15 to EUR7 for transactions carried out on a series of large global stock markets in North America, the eurozone and UK.

A survey by Romania’s Competition Council shows the use of Big Data technologies is becoming more important for enhancing the competitiveness of companies, but, at the same time, it may lead to establishing and artificially keeping prices high.

“As for every industrial company, business viability is essential. This explains the 16 helicopters order needed to move forward", affirms to HotNews.ro Georges Durdilly, Airbus Head of Country Romania, who remarks “it would also be an important message that Romania, as a host country, is the launching customer and has trust in a product that will be, after all, produced locally – made in Romania".

Media agency Mindshare has taken over the media planning and buying account of oil and gas company OMV Petrom (SNP.RO) on the Romanian market and it will be providing Petrom with consulting and medial strategy services for all media (TV, Online, Print, Radio, Out of Home media).

Romania's finance ministry on Thursday raised a planned RON500 million (EUR102.6 million) selling bonds maturing in October 2030 at an average yield of 3.34% a year, central bank data showed.

eMAG, the leading online retailer in Romania, is launching a program aimed at supporting retailers on the offline segment to digitalize their business.

Real estate developer Hagag Development Europe has selected Global Vision to provide property management services for its H Pipera Lake residential project.

Developers delivered 410,000 square meters of industrial and logistical space in the first nine months of 2020, nearly fully absorbed by demand which stood at 392,000 sqm, JLL said in its Bucharest City Report Q3 2020.

The occupancy costs of office spaces represent on average 3% to 4% of the turnover of service companies in Bucharest, and may fall even below 2% in some cases, according to an analysis by real estate consultancy company Cushman & Wakefield Echinox.

Real estate developer Portland Trust has leased 4,000 square meters on the ground floor of its J8 Office Park project in Bucharest.

Retail sales in Romania grew 1.3% on the month in October and 1.8% when adjusted for seasonality and number of working days, as sales of non-food items grew 3.3%, food sales grew 3.8% and fuel sales dropped 6.5%, data from the country’s statistics institute showed Thursday.

Germany, France and Italy were the top three export destinations for Romania’s furniture production in January-July 2020, data from Romania’s association of furniture manufacturers APMR show.