Flaros Bucuresti (stock symbol: FLAO), a company specialized in leasing own spaces from the portfolio of Infinity Capital Investments (formerly known as SIF Oltenia), reported net profit of RON1.7 million for the first half of 2024, up 43% from the year-earlier period, as per its half-yearly financial report.
Fuchs Condimente Romania, part of Germany's Fuchs Group and one of the largest spice producers in the local market, has invested EUR14 million to expand its factory in Curtea de Arges and automate production processes.
Israel’s Nofar Energy, one of the leading renewable energy investors in Romania, has signed a loan facility agreement and a VAT facility agreement totaling EUR122 million with the European Bank for Reconstruction and Development (EBRD) and Raiffeisen International, as lenders.
Romania's Competition Council is assessing the transaction through which Arctic Stream S.A., together with the Manescu family, intends to take over Data Core Systems S.R.L.
Romania's Competition Council has fined six publishing houses and the Romanian Publishers Association a total RON5.9 million (approximately EUR1.2 million) for participating in anti-competitive agreements regarding sale prices, following a complaint filed by Bookster.
Macofil Targu-Jiu, a building material producer listed at the Bucharest Stock Exchange under the stock symbol MACO, ended the first half of 2024 with net profit of RON6.9 million, up 26% from the year-earlier period, as per its half-yearly financial report.
German-held discounter PENNY, which has some 380 stores in Romania, has started works on its fifth warehouse in the country, located in Mihailesti, in the county of Giurgiu, and the investment is estimated at EUR35 million.
French fintech iBanFirst, a leading global provider of foreign exchange and international payments for businesses, has appointed Alin Latu as Country Manager for Hungary, where the company launched operations last year.
Law firm PeliPartners assisted Austrian group Immofinanz AG in the sale of myhive Victoriei (formerly known as Bucharest Financial Plaza) to AFI Europe, in a transaction worth over EUR27 million.
Romanian artificial intelligence and blockchain technology provider Humans.ai announced the acquisition of Cluj-Napoca-based Starfish Technologies, inventor of TensorChain and part of Home of Prodigy, in a cash and shares deal, Humans.ai. representatives said in a press statement.
Florin Melinte has been recently appointed as Deputy CEO of optical retailer Lensa, a position from which, together with Daniel Craciun, Lensa founder and CEO, will support the expansion of the business.
IT and digital marketing services provider Zitec, in which giant online retailer eMAG owns 25%, in 2023 posted an over 40% net profit decline, while its turnover rose by almost 20%.
HELL Energy, one of the biggest players in the energy drinks market, posted RON358.3 million (EUR72.4 million) revenue in 2023, up 12.4% from the RON318.7 million (EUR64.6 million) of 2022, according to ZF calculations based on data from the Finance Ministry website.
Banca Transilvania (TLV.RO), the largest lender in Romania, ended the first half of 2024 with a consolidated net profit of RON2.1 billion, up from the RON1.59 billion in the first half of 2023, while operating income increased to RON4.6 billion from RON3.7 billion.
Cluj-Napoca-based start-up SocialBee, which developed an AI platform for managing social media accounts, has been acquired by Luxembourg’s WebPros Group, a player specialized in providing web hosting, billing and automation solutions.
TAROM continues implementation of its restructuring plan and one of the goals is the sale of the take-off and landing slots on the Heathrow Airport in London to Qatar Airways, a step necessary to ensure economic sustainability of the company.
The European Union member countries with the highest inflation rates in July 2024 were Romania (5.8%), Belgium (5.4%) and Hungary (4.1%), according to data provided by Eurostat, the statistical office of the European Union.
Romania’s central bank expects the inflation to go down to 4% in December 2024 and 3.4% in the last month of 2025, a better outlook than in the previous forecast, particularly for the end of 2024, the institution says in the minute of the monetary policy meeting of August 7.
BRD Groupe Société Générale has concluded a new partnership agreement with the European Investment Fund (EIF) which will enable it to guarantee loans used to fund sustainable projects.