Romania ranks 21st among the 27 EU member states in terms of GDP per capita expressed in purchasing power, respectively 22% below the EU average, beating Hungary, Croatia, Slovakia, Latvia, Greece and Bulgaria, in line with Eurostat data.
Financial analysts part of the CFA Romania association estimate the Romanian currency will decline to an average exchange rate of 5.0500 units/Euro in the next 12 months, while the inflation rate will average 5.46%, the lowest level since November 2021.
The Bucharest Stock Exchange, the operator of the Romanian capital market, has budgeted RON12.6 million net profit for this year, below the RON21.8 million profit of 2023, which was influenced by Hidroelectrica listing, but above the profit adjusted without the impact of the listing, of RON9.9 million.
SIF Muntenia (SIF4.RO) on Tuesday notified the Bucharest Stock Exchange that the Financial Supervisory Authority (ASF) had approved the modifications to its articles of incorporation to reflect the change of the company’s name to Longshield Investment Group.
Scandinavian home furnishing retailer JYSK continued expansion in Romania by opening two new stores in Husi and Bistrita this week for a total of 140 in the country.
Geological surveying company Prospectiuni Bucuresti (PRSN.RO), mostly held by businessman Ovidiu Tender and SIF Muntenia, has called shareholders of April 29 to vote on establishing a subsidiary in the United Arab Emirates.
Private medical service provider MedLife (M.RO) notified the Bucharest Stock Exchange on Tuesday that the private pension fund Metropolitan Life had reported owning more than 5% of the voting rights.
Private lending in Romania went up 4.9% to RON383 billion in February 2024 compared with February 2023, central bank data showed on Tuesday (March 26, 2024).
CreditAmanet, a a Romanian-held provider of pawnbroking and money exchange services, is expanding further on the international market via the pre-owned goods unit, which has witnessed constant growth in recent years.
Ford Otosan Romania, a subsidiary of Turkey’s Ford Otosan, has sealed a 7-year loan agreement worth EUR435 million with a bank syndicate to finance the future generation of Ford Transit Courier and Ford Tourneo Courier and for the launch of the new Ford Puma.
Simtel Team, a Romanian engineering and tech company and a national leader in renewable energy, in 2024 targets, at a consolidated level, RON394.3 million operating revenue, RON49.2 million EBITDA and net profit worth RON35.1 million.
Furniture retailer Mobexpert is expanding its logistics and warehousing operations by leasing 1,400 square meters in logistic park Oresa Industra Park of Iasi owned by Oresa Industra, the real estate arm of Oresa family office.
Banca Transilvania, Romania’s largest lending institution by assets under management, has budgeted 20% higher net profit and a 10% asset increase for 2024.
The Bucharest technology and operations center of London Stock Exchange Group (LSEG) has reached 1,000 employees and the company has expansion plans for 2024 as well.
Ultragreens, a Romanian producer of microgreens and aromatic plants, is in advanced talks with a strategic investos and in the six months after sealing an agreement is likely to complete the 6,500-sqm vertical agriculture greenhub of Prahova, explained Cristian Tudor, its CEO and founder.
Five-star hotel Radisson Blu of Cluj-Napoca, developed by Winners Park Invest, has for 2024 budgeted turnover similar with 2023 level, of EUR7.5 million, according to the company’s officials.
CC Trust Group, a family business founded and held by Swiss entrepreneur Claudio Cisullo, sold 10 million shares of real estate developer One United Properties (ONE.RO) on March 21.