Romania | News

Austria’s Enery Power Holding, also present on the energy markets of Czechia, Slovakia and Bulgaria, signed an agreement to buy the renewable energy project portfolio owned by Canada’s Jade Power Trust in Romania, for EUR71 million.

China’s Huawei, one of the world's biggest players on the phone, PC and wearable gadgets market, plans to strongly develop sales on the B2B segment in Romania, from small and medium-sized companies, to large ones and governmental organizations, a step envisaging the setting up of a dedicated team.

Prime Kapital, a real estate developer and investor active in Central and Eastern Europe, and its investment partner MAS PLC, a real estate investor listed on the Johannesburg Stock Exchange, plan to invest EUR1.97 billion in retail, office, and residential developments in Romania with a total area of 1.5 million square meters, by 2029.

The three most profitable large banks in Romania in 1H/2022 were BCR, Banca Transilvania and BRD-SocGen, with overall earnings of above RON2.5 billion, namely more than half of the total profit of the system.

UiPath, Romania’s first IT company that has reached Wall Street, in 2020 also became the country’s largest IT company by turnover reported to the Finance Ministry.

Citi has announced the appointment of Samir Karia as Citi Country Officer for Romania and Managing Director of Citibank Europe plc, Dublin - Romania branch, in charge of developing and implementing the bank's local strategy and ensuring effective risk management and controls.

Romania’s competition watchdog has greenlighted the acquisition by Poultry Integration Farms based in Satu Mare of certain assets related to raising and selling live chicken, day-old chicks and sale of hatching eggs from Sam Mills Europe and Sam Mills Feed.

The European Bank for Reconstruction and Development (EBRD) has invested 26 million euros in Romania’s first sustainability bonds, issued by Raiffeisen Bank Romania.

The four largest video game developers in Romania generated overall turnover worth almost EUR180 million (RON878 million) in 2021, up almost 19% on the year, in line with ZF calculations based on Finance Ministry data.

The annual inflation rate in the European Union was 9.8% in July 2022, up from 9.6% in June 2022 and from 2.5% in July 2021. In Romania, the annual inflation was 13% in July 2022, in line with data from Eurostat, the statistical office of the European Union, on Thursday (August 18).

Romania produced 600,550 tons of cabbage in 2020, making it the third largest producer in the European Union after Germany and Poland, according to statistics of the United Nations’ Food and Agriculture Organization (FAO).

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.

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.

Canadian coffee shop chain Tim Hortons has posted its first job ads for Romania, a move that could indicate the group is preparing to arrive in the country.

The five best-selling bottled mineral water brands in Romania had a combined market share of 78.7% by value last year, data from market research company Market Vektor show.

Germany’s Daimler Group, which owns the Star Assembly company in Sebes and is the third largest exporter in Romania, is seeking RON185 million state aid for a total investment of RO675 million, the Finance Ministry announces in a document on its website.

The VC funding in Romania in the second quarter of 2022 (some EUR30 million) was worth roughly one-third of the funding in Estonia, Ukraine and Hungary - each of them with just over EUR100 million raised in the quarter, as per the VC Funding in CEE Report – 2Q/2022 compiled by Vestbee, the leading platform for startups, VC funds, accelerators, and corporates in CEE.

Global technology and software company Emerson, part of US-based Emerson, reported a turnover of RON1,080 billion (EUR219.6 million) for 2021 in Romania, up 12.3% from 2020, as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

With a score of 30.6 points, Romania lags behind all other EU Member States, according to the European Commission's 2022 Digital Economy and Society Index (DESI) which tracks digital progress in the European Union. The EU average is 52.3 points.

DIY network Brico Depot, with 35 stores on the Romanian market, wants to expand the range of products it sells in Romania and continue investments in the online platform.