The economic impact of the Romanian banking sector is estimated at RON2,247 billion in the period 1990-2020, according to the survey ″The contribution of the banking sector to the economy in the last 30 years″, conducted by KPMG Advisory at the request of the Romanian Banking Association (ARB).
Glow2Go, a beauty and wellness on-demand platform that connects people with experts providing manicure, pedicure, hairstyle, massage, and make-up services, has raised EUR192,000 in a pre-seed funding round.
Garanti BBVA Consumer Finance, part of Garanti BBVA Group Romania, has signed a loan agreement of EUR10 million with the International Finance Corporation (IFC), the investment arm of the World Bank Group, aiming to help Romanians reduce their homes’ carbon footprints.
One United Properties (ONE.RO), a developer of sustainable residential, office and mixed-use projects in Romania, on Thursday (June 7) published the Sustainability Report for 2021.
State-owned company Salrom, the only salt producer in Romania, could be listed on the Bucharest Stock Exchange between April and May 2023, according to economy minister Florin Spataru.
Romania’s financial supervisory authority ASF on Wednesday approved a draft enabling investment manager BT Asset Management, jointly with several funds and persons acting in concert, to obtain the quality of significant shareholders by acquiring, in concert, a direct qualified ownership stake representing at least 10% of the share capital and of the total voting rights of Evergent Investments (EVER.RO).
Romanians’ real estate assets have continued to grow in 2020 and 2021, the two years of the COVID-19 pandemic, by RON360 billion, respectively 20.7% above the 2019 level, reaching a record high of almost RON2,095 billion at end-2021, in line with central bank data.
Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has increased to 6.76% a year on Thursday (July 7) from 6.63% on Wednesday (July 6), as per central bank data.
Romania’s overall media market will reach EUR640 million by yearend, with a 6% advance against 2021, including a 20% increase on the digital media segment, in line with the Media Fact Book annual report by media agency Initiative Romania.
Local startup InstantSpace, which has developed a Booking.com platform for the online booking of hotel conference halls for the organization of corporate events, aims to have over 200 hotel units registered on its platform and over 100 events per month managed with the aid of its solution.
In Craiova we see the first investment by Ford Otosan outside Turkey. There’s interest in Romania and the investments are set to continue, said Fusun Aramaz, Turkey’s ambassador to Romania.
One of the most powerful investment bankers in Romania, Doru Lionachescu, currently president of BT Capital Partners board, has teamed up with the founders of One United, Victor Capitanu and Andrei Diaconescu, in an investment company that will have several tens of million euros available for firms with high growth potential.
Safety Broker remained the leading general insurance broker with a gross written premium volume of RON293 million and 9.6% market share in the first quarter, the Financial Supervisory Authority (ASF) said in its first quarter 2022 insurance market report.
Romania’s central bank expects the annual inflation rate will stick to an upward path until mid-Q3, yet at a visibly slower pace, thus climbing moderately above the levels projected in May 2022 over the short-term horizon.
Romania's nuclear power producer Nuclearelectrica (SNN.RO) & small modular reactor (SMR) technology provider NuScale organized a working meeting with Romanian authorities in Dambovita County and Doicesti on July 6, 2022.
Electricity distributor and supplier Electrica (EL.RO) informed the shareholders and investors that on July 6, 2022 it signed a shares sales and purchase agreement (“SPA”) in one project company having as main object of activity the production of energy from renewable sources.
The founder of How to Web, an event dedicated to startups and innovation in Eastern Europe, Bogdan Iordache has launched Underline Ventures, a venture capital firm set to invest in tech startups in Central and Eastern Europe, the company said in a release on Wednesday.
Computer Generated Solutions (CGS) Romania, operating on the local business process outsourcing (BPO) market, plans to hire in 2022 more than 800 specialists in positions of customer relations representatives, back office, technical support.
The inflation and the rising interest rates will certainly impact the residential real estate market as the market is strongly linked to lending policies, according to Bogdan Sergentu, Head of Valuation & Consulting within real estate consulting firm Cushman & Wakefield Echinox.
Romania's central bank on Wednesday (June 6) raised its benchmark interest rate to 4.75% a year from the current rate of 3.75% a year, starting July 7, 2022.