Romania's central bank has decided at its Board meeting on Friday (July 5) to lower its benchmark interest rate to 6.75% a year from 7% a year, starting July 8.
tbi bank, active in Bulgaria, Romania, Greece, Germany and Lithuania, has decided to reinvest its entire net consolidated profit of 2023, worth RON42.5 million.
RCI Holding, a major player in the engineering, financial solutions, technology, energy markets and management Consulting, held by businessman Dan Stratan, has promoted Frank Hajdinjak to the position of Chief Strategy Officer.
Real estate developer One United Properties (stock symbol: ONE) has announced in a stock market report on July 5 that its daughter company, ONE Gallery Floreasca, signed a lease contract with Tomcat Comserv SRL, the operator of the brands Treevi, Elephante, Sagakura, BaoHouse and others.
Romania's Competition Council approved the transaction through which France's Ardian France S.A.S. intends to acquire Alstef Group S.A.S. and its subsidiaries, including Alstef Roumanie S.R.L.
The Romanian M&A market registered 124 deals in the first half of 2024, with a total estimated value of $2.3 billion, marking a 6% decline by volume, from the 132 deals ($3.7 billion) posted in the same period of 2023, reveals an EY survey.
Hungary’s startup Munch, which entered Romania this March with its app that aims to aid curb food waste, has reached 128 partners and 194 locations locally, with its mobile app having more than 10,000 downloads so far.
Trend Furniture has started a EUR3 million investment in the building of a 4,000-sqm space in Gilau, Cluj county, where it will in 2025 move production, warehousing, offices and the showroom, explained Vlad Florea, the company’s CEO.
Germany’s BMW Group expects its new IT and software it opened in Cluj-Napoca together with Japan’s NTT Data Group to reach 1,000 employees in a few years from the current 120 at the moment, as a result of the high demand for digitalization solutions, the representatives of the two partners said a press conference.
Phonetastic GSM a local distributor of smartphones, gadgets and other IT&C equipment, posted RON200.3 million (EUR40.3 million) revenue last year, 27% lower than in 2022, Finance Ministry data show.
The most important investment project for pharmaceutical group Zentiva Romania in 2024 is to manufacture at its two plants in Bucharest medical drugs included in the parent company's portfolio.
Aripi, BCR Pensii, BRD Pensii and Metropolitan Life Pensii Private are the Pillar II private pension funds that sold about 3.4 million Banca Transilvania (TLV.RO) shares in May, as their investment in this issuer was close or above the 5% of the net asset value cap.
Aramis Invest, the largest local furniture producer, held by local entrepreneurs Vladimir Iacob and Marius Selescu, reported a net profit of RON74.6 million (EUR15 million) for 2023, up nearly 73% from a net gain of RON43.1 million (EUR8.7 million), according to calculations by Ziarul Financiar (ZF) daily based on finance ministry data.
In 2021, European Union member states lost around EUR61 billion in uncollected VAT, of which over EUR8 billion in Romania alone, placing the country third among European states in terms of non-collection of VAT, i.e. the difference between forecasted and actual VAT revenues, according to a European Commission report.
Belgium’s Bekaert has signed an agreement to buy 100 GWh worth of wind power from Romania with electricity generation company Rezolv Energy, held by UK investment firm Actis.
Investment company Omnia Capital, founded by Matei Ladea and Bogdan Georgescu, is continuing its consolidation process and buying 44.67% in Cargo Buddy, a a comprehensive online platform offering logistics and transportation solutions in Romania.
Romania's Ministry of Finance has attracted over RON2.1 billion (EUR435.5 million) through the third primary offer of Fidelis government bonds, intended for the population, held this year through the local capital market, as per a stock market report published at the Bucharest Stock Exchange on July 4.
Maria Boldor, who was promoted to Partner within the international management consultancy group Horváth this spring, has also become the Managing Director of the Bucharest team after 17 years with the company.