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Private lending in Romania went up 5.7% to RON384.7 billion in January 2024 compared with January 2023, central bank data showed on Friday (February 23, 2024).
Electricity and electrical equipment producer Electromagnetica (ELMA.RO) made a net loss of RON31.7 million for 2023, from a profit of RON23 million in 2022, the company said in a report to the Bucharest Stock Exchange.
Aerostar Bacau (ARS.RO), a supplier of aerostructures, components, assemblies for hydraulic systems for global manufacturing programs, posted RON93 million net profit in 2023, 3% higher than in 2022.
Romania has a total modern retail space stock of more than 4.3 million square meters, of which over 2.7 million square meters are malls and the rest mainly retail parks, the annual market report published by real estate consultant Colliers shows.
OVES Enterprise, a software development company and drone manufacturer, is expanding its drone production and investing EUR100,000 in a new line dedicated to manufacturing small-sized drones equipped with Artificial Intelligence, capable of operating in larger groups (swarms) and coordinated through centralized control systems.
US-held Uber, which operates one of the largest mobility platforms worldwide, on Thursday announced the launch of UberX Share service in Romania, in Bucharest, at the same time as in Poland, Warsaw and Sweden, Stockholm.
Fashion discount store chain Pepco, Romania's leading fashion retailer by sales in 2022, according to the latest public data, could end the year with 500 stores in the country if it continues expansion at the same pace.
German-held retailer Kaufland has opened its fifth store in Constanta, bringing its network to 175 stores in Romania.
Blankfactor, a global provider of technology and end-to-end digital transformation services for financial services, has leased the 35th floor of the SkyTower building in Bucharest, the tallest office building in Romania.
Fashion group C&A, which has over 1,300 stores in 17 countries around the world, is still working with only five partner factories in Romania that make clothes for the Dutch brand. The number has steadily declined, from around 40 in 2016, to 20 production facilities in 2019, to eight the following year and five today.
Nestlé Romania posted organic growth in sales of 18.8% in 2023 compared with the previous year, the company said.
Transilvania Broker de Asigurare (TBK.RO), one of the largest insurance brokers in Romania, ended 2023 with a net profit of RON7.6 million, down 34.3% compared with 2022, on operating revenue of RON111 million, down14.5%, its preliminary 2023 financial report shows.
Danube freight carrier Transport Trade Services (TTS.RO), on Thursday notified the Bucharest Stock Exchange about its management having approved the start of the 2024-2025 buyback program on February 26, which will see the company repurchase 420,000 shares or 0.7% of its share capital.
Romania's Finance Ministry raised RON340 million from banks on Thursday (February 22, 2024), selling benchmark bonds with a scheduled value of RON200 million due in February 2038, at an annual average yield of 6.57%.
Technology startups from Romania, the Republic of Moldova, Serbia, Croatia, Slovenia and Bulgaria will be able to get funding through GapMinder Fund II, the EUR80 million investment vehicle launched by GapMinder Ventures, the venture capital fund management company that invests in technology startups created in Romania and Eastern Europe, on February 14.
Active Plus, a fund managed by Swiss Capital Asset Management, has reduced its stake in investment fund Lion Capital (LION.RO) from 5.12% to 0.19%, Lion said in a report to the Bucharest Stock Exchange (BVB.RO).
Telekom Romania Mobile (TKRM), the fourth mobile telephony operator in Romania, posted EUR77.5 million revenue in the fourth quarter of 2023, up 6.2% year-on-year, mainly reflecting the sharp increase in other revenue due to revenue recognition of ICT projects in the quarter, the operator’s owner, Greece’s OTE, said in financial results report.
DRUID AI, the tech startup founded by entrepreneur Liviu Dragan in 2018, in 2023 registered annual recurrent revenues worth $13 million.
Deals with commercial real estate assets worth above EUR600 million are currently under advanced negotiations, so that the volume traded in 2023 is likely to be matched in the first half of the current year, in line with data released by real estate consultancy Cushman & Wakefield Echinox.
Tech company 2Performant Network, the biggest player on Romania’s affiliated marketing market, reported net profit of RON869,432 at the end of 2023, vs RON258,454 profit in 2022.19075 items