Romania Feed

Romania’s modern industrial and logistics space market reached 4.72 million square meters at the end of the first half of 2020, up 5% on the year, accounting for over 9% of the stock of the 17 largest markets in Central and Eastern Europe (CEE), per a Colliers International report, which expects the market to exceed 5 million sqm until the end of 2020.

Most companies (80%) say that adopting remote work is the new norm on the labor market, and over 53% currently have created and implemented arrangement policies in this respect. Of the remainder (47%), more than 50% of companies anticipate that they will refine or implement a remote work arrangement policy by the end of 2020, a PwC global survey shows.

Home appliances wholesaler Marelvi Impex in Radauti, Suceava, posted more than 328.2 million lei (EUR69.3 million) revenue in 2019, about 26% higher than in 2018, ZF has calculated from Finance Ministry data.

A number of 37 deals for 62,500 square meters of office space were signed in the third quarter, an increase of 14% on the year-ago period, real estate consultant Knight Frank says.

Romania's trade balance posted a deficit of EUR11.5 billion in January-August 2020, EUR642 million higher (+10%) compared with the same period in 2019, data from the country's statistics board showed Monday.

Legrand Romania, the subsidiary of France’s Legrand group, a global electrical and digital building infrastructure specialist, ended last year with growth of 6% in revenue to more than 115.7 milion lei (EUR23.7 million), Finance Ministry data show.

Romania's annual inflation rate inched down to 2.5% in September 2020 from 2.7% in August, data from the country's statistics board showed Monday.

The number of new studios delivered in Romania has doubled in the past two years, with 5,528 such homes completed in 2019, 28% more than in 2018. The growth rate was high in 2018, as well, when 4,308 studios were delivered, 61% more than in 2017, National Statistics Institute data centralized by ZF show.

Romania’s central bank has approved the appointment of Pedro Miguel Weiss as independent member of the Supervisory Board of lender Raiffeisen Bank.

Romanian state-owned hydropower producer Hidroelectrica has announced the commissioning of a 110 kV electric station belonging to Bradisor hydropower plant, as part of Lotru hydropower retrofitting, following modernization works worth a total RON5.41 million.

Real estate developer Impact Developer & Contractor (IMP.RO) is entering the local real estate market in the city of Iasi (north-eastern Romania), with the acquisition of a plot of land of 19,068 square meters, in the city’s Copou area.

NN Romania, the leading life insurer and private pension fund manager in Romania, will expand its portfolio into home insurance starting October, the company announced Friday.

Romania's gross domestic product grew 4.5% in real terms in 2018 compared with 2017, final data from the country's statistics board showed Friday.

Romania will sign a financing agreement totaling $8 billion with the United States for the refurbishment of one nuclear reactor and the building of two new reactors at the Cernavoda nuclear facility in Romania, US ambassador Adrian Zuckerman said.

Holcim Romania, the largest construction material manufacturer in the country by revenue, continued to operate in sync with the construction market in the last few months, despite the pandemic.

Sphera Group (SFG.RO), which manages restaurants under the KFC, Pizza Hut and Taco Bell brands, on Friday announced it has appointed Calin Ionescu as chief executive officer.

Vanbet, a poultry producer in Vaslui (eastern Romania) held by entrepreneur Fanel Bogos, ended last year with 219 million lei (some EUR46 million) revenue, an increase of 5% on 2018.

The summer months came with a rebound in corporate loans after lending plunged by annual rates of 20% to 30% in the spring due to the lockdown required by the COVID-19 pandemic.

The average net salary in Romania fell 2.9% in both nominal and real terms in August compared with July, to 3,275 lei (around EUR672), data from the country's statistics board showed Friday.

Romania's gross domestic product took an annual plunge of 10.2% in real terms in the second quarter, less than the previously estimated 10.5%, a second reading from the country’s statistics board showed Friday.