Romania Feed

The private pension funds operating on the mandatory segment in Romania (Pillar II) had record assets of RON92.4 billion in August 2022, higher by RON5 billion than the level at mid-2022, recovering over half of the loss amassed in 2022, as per calculations by the Romanian association for private pensions APAPR.

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, inched up to 7.98% a year on Wednesday (August 17), higher by two basis points than 7.96% recorded on Tuesday (Aug 16), as per central bank data.

Romania's gross domestic product (GDP) grew by 2.1% in real terms (in unadjusted data) in the second quarter of 2022 as compared to the first quarter of 2022, the country’s statistics board INS said on Wednesday (August 17).

SeedBlink, a local company founded in early 2020 that created a platform for co-investing in tech start-ups, has fully acquired Symbid, one of the world's first crowdvesting platforms founded in the Netherlands in 2011. This is its first acquisition for accelerated expansion in Europe.

Capital city Bucharest is expected to deliver 134,000 square meters of office space in 2022 and 2023, way below the level of deliveries recorded over the last years, in line with an analysis by real estate consulting firm Cushman & Wakefield Echinox.

Alten Romania, the local subsidiary of the French company of the same name, which carries out engineering and technical consulting activities for players in various industries, such as banking, chemical, IT, retail, technology and digital commerce, wants to recruit at least 50 IT specialists by the end of 2022 and thus grow to 750 employees locally.

Slovenian company Isosport, a manufacturer of plastic products for the ski and snowboard industry, has bought a factory in Oradea, with an annual revenue of RON62 million and 91 employees.

SIF Oltenia (SIF5.RO) has completed procedures to exit the shareholder structure of EximBank and collected RON42.4 million for its 3.27% stake, the company notified the Bucharest Stock Exchange on Tuesday.

Electricity distributor and supplier Electrica (EL.RO) Board of Directors has extended the interim CEO term of Alexandru Chirita until the end of 2022 or until the appointment of a new CEO, the company announced on the Bucharest Stock Exchange on Tuesday.

Romanian deep-tech startup OxidOS has raised EUR1.2 million in a seed funding round led by Early Game Ventures (EGV) and joined by renowned business angels, company representatives said in a statement on Tuesday.

Belgian logistics space developer WDP has acquired the industrial park Arad Business Park which covers almost 42,000 square meters.

PwC Romania expands its management team by promoting seven new directors within the company’s three service lines: Tax and Legal Consulting, Assurance and Advisory, starting September 1, 2022.

Approximately half of million square meters of logistics spaces was leased in Romania in the first half of 2022, according to a report real estate consulting firm CBRE Romania.

Romania’s courier services market continues its upward trend in 2022 but is expected to see more moderate growth versus the last two years, of just 10%, to over RON6 billion, as per estimations by Ziarul Financiar (ZF) daily based on market data.

Airbag manufacturer TRW Automotive Safety Systems, part of Germany’s ZF Group, on Tuesday reported a net profit of RON55.3 million (EUR11.3 million) in 2021, double from RON26.3 million (EUR5.4 million) in 2020, as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

Skiptrans, part of Jost Group, an international carrier located in Luxembourg and Belgium, had a turnover of RON329.2 million (almost EUR67 million) in 2021 in Romania, down 2.5% from RON337.4 million (EUR69.7 million) in 2020, as per calculations by Ziarul Financiar (ZF) based on finance ministry data.

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, continued its downward trend, dropping further to 7.96% a year on Tuesday (August 16) from 7.98% a year on Friday (Aug 12), as per central bank data.

Aquila (AQ.RO), the leading player in the local market for integrated distribution and logistics services, announces that its own brands Gradena and LaMasa saw a 33% increase in value in the first half of this year compared with the same period last year.

WIP Industries Romania, a supplier of components for the furniture industry and the local division of Sweden’s WIP Holding, on Tuesday said it had a turnover of RON52.7 million (EUR10.7 million) in 2021, up 37.5% on the year, in line with calculations by Ziarul Financiar (ZF) based on finance ministry data.

Romanian state-owned lender CEC Bank posted RON110.8 million unaudited estimated profit in the first half of 2022, compared with RON208 million in the year-ago period, while assets increased by 20% to RON53.3 billion.