CEC Bank, a lender held by the Romanian government via the Finance Ministry, climbed to 4th place in the ranking of the largest banks in Romania by assets at the end of the first half of 2023, from 6th place at the end of 2022, overtaking ING Bank and Raiffeisen Bank.
Italian luxury fashion group Moncler has invested EUR10 million in expanding production in Bacau and in a kindergarten for employees' children, completing the project a year after the start of construction.
Romanian startup firm MEDIjobs, which developed an online recruitment platform in the medical field, plans to attract an investment worth EUR650,000 through SeedBlink, the financing and equity management platform for European tech startups, according to an announcement made by SeedBlink representatives.
Taxing incomes over a gross RON10,000, a measure expected to be implemented this autumn, puts pressure on recruitment and may prompt employers to lean towards younger candidates who fall within the non-taxable salary limit, according to an analysis by recruitment platform Bestjobs.
Zarea, one of the most important players on the alcoholic beverages market in Romania, posted RON167.7 million (EUR34 million) revenue in 2022, up 14.8% compared with the previous year’s over RON146 million (EUR29.7 million), according to calculations made by ZF based on Finance Ministry data.
ING Bank, the local subsidiary of Dutch ING Group, reported a net profit of RON750 million for the first half of 2023, up 29% on the year, and revenue of RON1.63 billion, up 15% compared to the six months of 2022.
Nokian Tyres, one of the major players on the global tyre market, has appointed Susanna Tusa to the position of General Manager and Vice-President of the local operations, allowing her to also coordinate the project of the factory in Oradea (western Romania).
Romania’s state-owned natural gas producer Romgaz’s (SNG.RO) announced in a stock market report on Thursday (Sept 28) the conclusion of a new transaction with E.ON Energie Romania, a company part of Germany’s E.ON Group.
Pharmaceuticals company Sanofi Romania, the local division of French giant Sanofi, has announced the appointment of Thomas Bosment as Country Head of its Consumer Healthcare (CHC) business unit.
DN Agrar Group, the largest integrated farm in Romania and leader in cow milk production, in the first six months of 2023 saw net profit top RON15 million, up over 200% from 1H/2022.
Financial analysts part of CFA Romania association estimate the Romanian currency will decline to an average exchange rate of 5.0753 units/euro in the coming 12 months, while the average inflation rate is expected to reach 7.58%, sightly higher from the 7.52% level anticipated in July.
Autonom group, founded by brothers Marius and Dan Stefan, is readying to launch, in October, a new ridesharing service, called Blue, which will thus enter competition with players such as Uber, Bolt or Elec.
Local startup Youni, which develops the platform of the same name for pupils who want to study at universities abroad, will open its second education hub of Romania, in Craiova.
TMD Friction Romania, which owns the Textar brake pads brand, posted RON311.8 million (EUR63.2 million) revenue in 2022, up 20% compared with the previous year’s RON259.7 million (EUR52.8 million), ZF has calculated from Finance Ministry data.
SIF Imobiliare (SIFI.RO), a company operating in the real estate sector and 99% held by Lion Capital (LION.RO), on Wednesday (Sept 27) reported a net profit of EUR12.45 million for the first half of 2023, more than fivefold higher than the EUR2.35 million level reported in the same period of 2022.
Devero Impex posted RON16.5 million (EUR3.3 million) revenue in 2022, up 16.3% on the previous year’s RON14.1 million (EUR2.8 million), ZF has calculated from Finance Ministry data.
ABN Systems International (ABN.RO), which distributes IT&C products and accessories and owns the Tellur brand, had a net profit of RON693,000 in the first half of 2023, from RON1.9 million in the year-earlier period, as per calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year financial report published at the Bucharest Stock Exchange.
Agroserv Mariuta (MILK.RO), a Romanian agricultural company and owner of the Laptaria cu Caimac dairy brand, posted sales of RON36.3 million in the first half of 2023, an increase of 23% compared with the year-ago period.