Romania | News

Trace Group Hold, a Bulgarian construction company involved in the execution of highway A7 to Moldavia, generated RON41 million turnover in Romania in 2022 with just seven employees. A year before, the same company reported zero turnover, RON270,000 losses and a single employee.

Ukraine has started negotiations with Moldova and Romania regarding the creation of a "green corridor" between the border crossing points "Reni (Ukraine) – Giurgiuleşti (Moldova) – Galați (Romania)" to speed up the movement of goods and the export of Ukrainian agricultural products.

Romania remains 14th in the European Union in terms of new car registrations in January-September, 110,711 units, an increase of 16.2% on the year-ago period, 11,759 of which full electric and 32,597 hybrid cars, data from Romania’s and Europe’s carmaker associations (ACAROM and ACEA) released on Friday show.

Footwear retailer Benvenuti, held by local entrepreneur Dan Pavel, has inaugurated the 47th store in Romania and the sixth in capital city Bucharest, within Bucuresti Mall.

Hypermarket chain Kaufland, owned by German group Schwarz, has inaugurated its second hypermarket in the town of Alba Iulia, reaching a network of 170 stores in Romania.

Cooperation between Ukraine and Romania, which is a reliable economic partner, reaches a qualitatively new level.

Seven documents, including on the expansion of Ukraine's export capacity, were signed at a joint meeting of the governments of Ukraine and Romania.

Clothing retailer Modivo, part of the Polish CCC group, which owns the footwear brand of the same name, epantofi stores and HalfPrice, a low-cost fashion retailer active in the outlet segment, has opened its third store in Romania. The new 400 square-meter store will operate in Promenada Craiova and is Modivo’s first in the country located outside Bucharest, where it has two stores in AFI Cotroceni and Mega Mall.

Israeli real estate developer AFI Europe will be opening on Nov 1, 2023 its first retail park in Romania, located in the center of the western city of Arad.

Deputy Head of the Ukrainian President’s Office, Ihor Zhovkva, says Romania will provide its airfields for training Ukrainian war pilots. The training center will be launched by year-end.

Mihaela Lupu, currently Chief Financial Officer for Central and Eastern Europe within UniCredit Group, will be the new Chief Executive Officer (CEO) and Chairman of the Board of Directors of UniCredit Bank in Romania, starting with October 16, 2023.

The passenger car output of the two automotive plants of Romania, Dacia and Ford, dropped by 1.8% year-on-year to 375,860 units in the January-September 2023 period, in line with data provided by the country’s carmakers association ACAROM.

President Volodymyr Zelensky has announced the preparation of a joint meeting of government officials of Ukraine and Romania in the coming weeks.

Almost 60% of the total volume of grain exports from Ukraine is transported through Romania. Since the beginning of the full-scale war, the volume of transit has already exceeded 27 million tonnes.

President Volodymyr Zelensky announced that a new "grain corridor" for the export of Ukrainian grain through Moldova to Romania will be launched soon.

Romania M&A market in the first nine months of 2023 registered 183 deals, down 6.2% from the same period of 2022, a trend also visible in terms of value, with a 19% decline to $4.2 billion, reveals a E&Y survey.

Polish fashion retailer Answear.com is likely to open physical stores in Romania as well, after the group in early 2023 acquired brands PRM and Sneakerstudio in Poland, brands which have also come with physical stores, explained Raluca Radu, Answear Romania country manager.

The total monthly average income in Romania stood at RON6,910 per household, in nominal terms, and at RON2,770 per person in Q2/2023, a decrease of 1.0% compared to Q1/2023.

IKEA Romania, one of the largest furniture and home décor retailers, part of Swedish IKEA Group, is set to build its fourth store in Romania, in the north-eastern city of Iasi, within the future Moldova Mall (the current ERA Shopping Park), according to www.iasi4u.ro.

Do-it-yourself (DIY) retailer Dedeman, the most powerful Romanian entrepreneurial business, is opening its second store in the town of Craiova, on Thursday (October 5), reaching 60 units in Romania.