Romania Feed

The Carfix App was launched in April 2021, after two years of development and an investment of RON 3 million, to help car owners to save time. Sorin Iacob, founder, and CEO of GT Managing Services spoke in an interview about the development journey of the app and the demand of Romanians for digitalization in […]

Achilleas Kanaris, the CEO of Vodafone Romania, sat down with Business Review to share his views on Romania as a society and a growing economy. He also brought up two scenarios for the local economy in light of the National Recovery and Resilience Plan (PNRR) and revealed the company’s main strategic directions on the local […]

The February 2022 issue of Business Review Magazine is now available in digital format, featuring the main story titled “Vodafone Pursuing Full Convergence On Romanian Market”. Read it online by clicking here. To download the magazine in PDF format fill out this form and we’ll make sure to send you a PDF copy.   In this issue: Growth […]

Romanian DRUID, a local startup specialized in developing chatbots, has concluded a partnership with Omnix International, a leading provider of end-to-end digital solutions in the Middle East, part of the strategy to expand on external markets.

The Romanian State refunded RON5.9 billion in value-added taxes to companies in the fourth quarter of 2021, a record amount for this period of the year and 14% higher than in the fourth quarter of 2019, in line with data from Romania's tax administration agency ANAF.

Romania’s insurance market ended 2021 with underwritten gross premiums of RON14.3 billion (nearly EUR2.86 billion), seeing the biggest annual growth of the last decade, of 24%, versus 2020, said Cristian Rosu, vice-president of the country’s financial supervisory authority (ASF) on the insurance segment.

The majority of consumer products multinational companies (93%) have set revenue growth as their main objective this year compared to the previous year, as a result of the bold decisions adopted in 2021 which are now paying off, according to Deloitte 2022 Consumer Products Industry Outlook. They also estimate some challenges posed by persistent supply chain disruptions, labor shortages and rapidly rising costs. On the other hand, most respondents believe that 2022 will mark a battle for trust - 95% of them consider organizations that have high consumer trust are more resilient.

TEILOR, the chain of luxury jewelry stores present across the CEE region, on Tuesday announced the appointment of Giani Kacic as the Chief Financial Officer (CFO) of the company.

Natural gas producer and supplier Romgaz (SNG.RO) on Tuesday said its hydrocarbon production grew by 11% and its electricity production declined by 31.7% year-over-year in 2021, in line with the company’s preliminary report.

Construction material manufacturer TeraPlast Bistrita (TRP.RO) ended 2021 with consolidated net profit (which does not include the impact of 2021 exits) of RON44.6 million, 40% higher than in 2020. Revenue rose by 55% to RON615 million, TeraPlast’s financial report published by the Bucharest Stock Exchange on Monday evening shows.

VoxiKids, a platform dedicated to parents and speech therapists that aims to accelerate the recovery of children with speech sound disorders, has attracted a new bridge-type investment worth EUR100,000 that will be used to support sales growth and also communications and marketing plans, company officials said in a statement.

Sales of dermo-cosmetics in pharmacies in Romania increased by 27% to a total of RON360 million (EUR73.2 million) last year and the market was dominated by facial care products, which accounted for 38% of the total, body care (19.8%) and hair care (19.4%) products, according to a Cegedim report.

Romania's finance ministry on Monday rejected all bids for treasury bonds maturing in 2036, as it deemed the bid price unacceptable, central bank data showed.

Coca-Cola HBC Romania, the leader of the local soft drinks market, has appointed Mihaela Hoffman to the position of Business Director of the company’s Coffee & Premium Spirits Division.

ING Bank was involved in a new green bond issue worth EUR500 million for NEPI Rockcastle, the largest owner of shopping centers in Central and Eastern Europe, also present in Romania, and the funds will be used to refund the portfolio and fund the energy efficiency projects.

Romanian startup Qoobiss, which offers digital identity verification services and automates the KYC (Know-Your-Customer) process for Romanian ID cards, has signed a partnership with online sports betting company Get’s Bet, for the provision of digital identity verification services.   With the Qoobiss software automatically verifying customer identification data, the Get’s Bet online betting platform ensures […]

Pago, the Romanian mobile app through which almost 10 million utility bills worth over 1.1 billion lei have been paid, announces the launch of the money transfer, simple and real-time, to any card issued by a bank in Romania, only based on the phone number.   Thus, Pago users can transfer money via the app […]

Shareholders of Sphera Franchise Group (SFG.RO), the operator of the KFC, Taco Bell and Pizza Hut brands in Romania, on Friday approved a new Board of Directors, with mandates until May 30, 2023, and a monthly remuneration of EUR4000 for each member.

At the end of last year, Mihaela Hoffman took over the position of Coffee & Premium Spirits Business Director within Coca-Cola HBC Romania, the leader of the local beverages industry. In her new role, she will lead the growth of the coffee and premium spirits portfolio. Mihaela’s role is a strategic one, significantly contributing to […]

Shareholders of Sphera Franchise Group (SFG.RO), the operator of the KFC, Taco Bell and Pizza Hut brands in Romania, on Friday approved the distribution of a gross dividend of RON0.9021 per share, with the total amount reaching RON35 million, from the undistributed profit of 2020.