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Orange, the telecom market leader in Romania, has announced appointment of Carl Al Khawand chief financial officer (CFO) of the Orange Romania Group, as of July 1, 2024. He will take over from Adela Guedon, who will continue in the Orange Group as CFO of the cybersecurity division, Orange Cyberdefence.
Romania's Finance Ministry raised RON961 million from banks on Monday (April 29), selling government paper in two auctions, at annual average yields of 6.14% and 6.57%, respectively.
The European Commission has approved, under EU State aid rules, Romania's plans to grant its state-owned flag carrier TAROM restructuring aid of up to EUR95.3 million (RON473.69 million). The measure will enable the company to restore its long-term viability, while minimizing competition distortions.
Premier Energy Group, held by Czech investment fund Emma Capital, founded by Czech entrepreneur Jiří Šmejc, has acquired the Mihai Viteazu wind park in Constanta (southeastern Romania), with a total capacity of 80MW.
Virgil Ichim, CEO of Allianz-Tiriac Pensii Private, is stepping down from his role effective April 30, 2024, in order to pursue other career opportunities and challenges, as per a press statement.
Germany, France and the United States of America hold the top three spots among countries that control enterprise subgroups in Romania, as per the latest report on enterprise groups released by Romania's statistics board INS, on April, 29.
Romania remains at the bottom of the European Union rankings in terms of innovation, with the proportion of Romanian companies introducing new or improved products or business processes to the market standing at 8.8% in 2020-2022 period, marking a decline of 1.9 percentage points compared to 2018-2020 period, in line with data released by Romania's statistics board INS on Monday (April 29).
Romanian executives forecast growth of activity in construction and retail trade, relative stability in the number of employees in manufacturing industry and services, and price growth in construction and retail trade, for the period April – June 2024, in line with a survey carried out by the country’s statistics board INS.
Online retailer eMAG is launching a new shop-in-shop, with hair care, styling devices and make-up products, Hair & Make-up Shop.
Prima Development Group, a real estate developer of Oradea, signed for the acquisition of an over 6-ha land plot in Bucharest’s Soseaua Gheorghe Ionescu Sisesti, part of the portfolio of Austrian real estate developer Immofinanz.
CANCOM Romania, a subsidiary of CANCOM SE, one of the leading integrated IT services providers in Germany, in 2023 registered RON6 million net profit, up 79% from the previous year.
SoftOne group, a leading business software provider in Greece and SE Europe, which operates in Romania via SoftOne Romania, wants to expand nationwide and is looking at potential acquisitions, Radu Opris, who has recently taken over as international general manager of SoftOne Group, told ZF.
SW Umwelttechnik Romania, the local subsidiary of the Austrian company of the same name, a maker of precast concrete products, boosted turnover by 21% in 2023, to RON230.2 million.
Alpin 2003, the company that manages hotel compound Alpin Resort Hotel, a major tourism player in Poiana Brasov resort, ended 2023 with turnover worth RON66.5 million (EUR13.5 million), up 22% from 2022.
The Board of Directors of natural gas transmission company Transgaz (TGN.RO) has convened on June 5 the extraordinary general meeting of shareholders to vote on establishing a limited liability company for hydrogen transmission, the company said in a stock market report on April 26.
Romania's Competition Council announced on April 26 that it had approved the transaction through which Ubitech Constructii SRL intends to take over Copraag Entrepreneur SRL.
Romania's Competition Council announced on April 26 that it had approved the transaction whereby AEQH24 GmbH intends to take over NIFCO Germany, including its subsidiaries, SEGO GmbH, Germany, NIFCO Germany d.o.o., Serbia and NIFCO KTW America Corporation, USA.
Aquila Part Prod (AQ.RO), an entrepreneurial company providing distribution and logistics services for consumer goods in Romania, has finalized the acquisition of 100% in Parmafood Trading SRL and Parmafood Group Distribution SRL, following fulfillment of all suspensive conditions stipulated in the contract, it said in a release.
The shareholders of port operator Socep Constanta (SOCP.RO) have rejected the proposal of shareholder Sammarina Imobiliare SA regarding the distribution of dividends in the amount of RON50 million, from the 2023 net profit, the company announced in a stock market report on April 26.
Government budget spending increased by 23% to RON168 billion in the first quarter of 2024, data on the execution of the general consolidated budget of Romania released by the Finance Ministry on Friday show.19058 items