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Danube freight carrier Transport Trade Services (TTS.RO) announced in a stock market report on Nov 6, 2023 that NAVROM, the main provider of river transport services within TTS Group, continues the EUROPA 2 type barge construction program started in the spring of 2023 by signing an additional contract with Romanian shipbuilder Santierul Naval Severnav (SEVE.RO).
Flip, the Romanian start-up that encourages circular economy by refurbishing phones and tablets that are reintroduced on the market as good as new, expects sales of EUR3.5 million for this year’s Black Friday campaign held between Nov 9 and 12, which would translates into a 30% increase compared to last year.
Romania’s largest online retailer eMAG projects sales of RON680 million on Black Friday, on November 10, almost RON36 million higher than in the 2022 edition of the sales campaign.
Romania's Finance Ministry raised RON1.3 billion from banks on Monday (November 6), selling government paper in two auctions, at annual average yields of 6.83% and 6.03%, respectively.
The average office transaction size in the first nine months of 2023 was 1,810 square meters, the highest average recorded in the last four years and close to the record level of 1,900 sqm set in 2019, according to data from real estate consulting firm Cushman & Wakefield Echinox.
Craiova-based Softronic, the only manufacturer of electric locomotives and multiple units in Eastern Europe, is in advanced talks to sell locomotives to the largest private rail carrier in Slovakia.
Romania has been elected as member of the Executive Committee of the International Organization of Pension Supervisors (IOPS) for the 2024-2025 period.
Organic farm input producer Norofert (NRF.RO) posted RON1.1 million consolidated net profit in the first nine months of 2023, down 85% on the same time in 2022, while revenue stood at RON30.9 million, 42.1% lower, the company said in a report to the Bucharest Stock Exchange on Monday.
Croatia-based pet care company Pet Network International (PNI), a European pet care retail group of companies, currently operating in South Eastern Europe, has recruited Andreea Grigorescu for the position of Chief Executive Officer (CEO) of Animax and Maxi Pet, starting January 2024.
Karoly Borbely, a former telecommunications minister and the man who supervised the largest share sale in the history of Romania, the RON9.3 billion sale Fondul Proprietatea used to exit Hidroelectrica (H2O.RO), was appointed chief executive of Hidroelectrica, the company said in a report to the Bucharest Stock Exchange.
A new global survey called “GenAI: What consumers want” shows there is consumer appetite for businesses using generative AI (GenAI) in the innovation of products and services, yet only where businesses are transparent and proactively communicate how they are using it.
New registrations of road vehicles for passenger transport in Romania decreased by 3.8% in the third quarter of 2023 compared to the third quarter of 2022, data from the country’s statistics institute INS showed on Monday (November 6).
The simplification of customs operations is critical for economic operators involved in the supply chain. In 2023, specifically starting from December 1, 2023, export customs operations will be carried out through the new IT system called AES-RO, developed by the Romanian customs authority.
Infineon Technologies Romania, the local division of Germany’s Infineon, a world leading semiconductor manufacturer, has decided to go with One United Properties (ONE.RO) for a building to accommodate 2,000 employees, which will be developed on Dimitrie Pompeiu Boulevard, across the street from the Pipera subway station in Bucharest.
International rating agency Moody’s Investors Service (Moody’s) has affirmed the Romanian Government's long-term Issuer and Senior Unsecured Ratings at Baa3 and has also affirmed the Senior Unsecured MTN program Rating at (P)Baa3.
German group Geiger, one of first German construction firms in Romania, known for road and highway construction, is entering a new market segment via a turnkey construction department, which already weighs 23% in turnover.
The volume of investments on Romania office segment reached EUR15 million in the third quarter of 2023, with the overall volume expected to revolve around EUR69 million for 2023, in line with data provided by real estate consultancy CBRE Romania.
Sibiu-based Simpa, a producer of bread, cookies and other patisserie products, has reached 30 own stores, which generated around 70% of the 2022 turnover of RON119 million.
Romania’s e-commerce market will maintain its growth pace, being strongly supported by the yearend, according to the representatives of PayU GOP Romania, a major online payment services provider locally.
Alpha Bank, a top ten lender by assets in Romania, posted EUR34 million net profit in the first nine months of 2023, while its assets reached EUR4.48 billion at the end of September, an annual increase of 10%, Alpha Bank’s latest financial report shows.19080 items