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Real estate developer STC Partners is expanding its team, with the positions of Sales Manager and Technical Director being taken over by Elena Palade and Bogdan Bazarea, respectively.
Cartofisserie, a Romanian-held fast-food restaurant chain established by the founders of the Delaco dairy brand, ended 2023 with RON100 million sales, an increase of 50% on the previous year, Finance Ministry data show.
Austrian transport and logistics company Gebrüder Weiss has invested nearly EUR90 million in the last 30 years to expand its infrastructure in Romania, inflation adjusted value, reaching nine large logistics centers in the cities of Bucharest, Arad, Sibiu, Cluj, Bacau, Brasov, Constanta and Craiova, and some 700 employees.
The Competition Council approved the transaction through which Clayton, Dubilier & Rice, LLC intends to take over Presidio, Inc., through CD&R Fund XII.
Traian Baicu was nominated for the position of chief executive officer of Credex Bank, formerly Porsche Bank, which businessman Dan Ostahie bought, while Misu Negritoiu should serve as the chairman of the board, financial market sources say.
Businessman Nicolae Bucovala, who owns Steaua de Mare hotel complex in Eforie Nord, Tomis Hotel in Mamaia and Oltenia Hotel in Olimp, says the investments made in refurbishment and services attract tourists to his hotels on the Romanian seaside.
Digital Keez SRL, the accounting tech startup held by Norway’s Visma, posted significant increase in revenue, by 62% to RON13.2 milion (EUR2.6 million), in 2023 compared with 2022., Finance Ministry data show.
Romania’s public debt, in both lei and foreign currency, increased by RON69.3 billion to RON852.8 billion in April 2024 and to 52.1% of the GDP from 48.8% of the GDP at the end of 2023, above the maximum admitted limit, Finance Ministry data show.
Sphera Franchise Group (SFG.RO), the operator of franchised KFC, Pizza Hut and Taco Bell restaurant chains in Romania and of the KFC restaurants in Chisinau, Republic of Moldova and Italy, on Friday notified the Bucharest Stock Exchange that Razvan Lefter, board member, and Valentin Budes, chief financial officer, sold RON3.2 million worth of shares together.
Romania’s exports could overshoot the EUR100 billion mark this year, with Germany, Italy, Poland, Slovakia, Czech Republic and Hungary being the main destinations for Romanian products, shows an analysis by Moneycorp Romania.
Law firm Filip & Company advised AROBS Transilvania Software, the largest technology company listed on the Bucharest Stock Exchange, in the share capital increase operation in which it raised EUR28.7 million.
A year after the biggest listing in the history of the Bucharest Stock Exchange, the EUR2 billion one of Hidroelectrica (H2O), Bogdan Badea, chief investment officer at the green energy producer, says the company will announce new investment projects in the coming period.
Monsson, the main green energy developer in Romania, controlled by businessman Emanuel Muntmark, has sealed an agreement with Nala Renewables, a joint venture between Trafigura Group, a major independent commodity trader globally, and investment fund IFM Net Zero Infrastructure Fund, for the sale of a 61 MW photovoltaic park in Caras-Severin county.
Romania’s industrial production shrank by 11.1% in May 2024 against the same month of 2023, in unadjusted data, amid declines registered by production and supply of electricity, steam, gas and air conditioning (-12.1%), processing industry (-11.5%) and mining industry (-1.8%), data from the country’s statistics board INS showed on Friday, July 12, 2024.
The average net salary in Romania went down by 1.9% (RON99) in May 2024 compared to April 2024, to RON5,118, data from the country’s statistics board INS showed on Friday, July 12, 2024.
Arobs representatives will continue to grow the group via acquisitions, but also through organic expansion, Voicu Oprean, Arobs CEO, told ZF.
Viorica Cosmetic Romania, a cosmetics producer of the Republic of Moldova, with 12 own brand stores locally, ended 2023 with turnover of almost RON11 million, double the 2022 level. However, losses also doubled to almost RON5 million.
The retail sector continues to be appealing both to major investors, with investment funds willing to develop projects of hundreds of million euros, and for Romanian ones, who increasingly choose to develop retail schemes in secondary or tertiary cities.
Computer and electronics retailer Altex and furniture manufacturer and retailer Mobexpert are teaming up for a EUR16 million to EUR17 million project to be developed in the Pallady area in the east of Bucharest.
The year 2023 came with a number of changes in the dairy industry. Danone reached the RON1 billion mark for the first time, something Albalact had done the year before, but the growth rate of Danone’s revenue was double Albalact’s last year.19015 items