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Romania's gross domestic product (GDP) grew by 6.5% in real terms (in unadjusted data) in the first quarter of 2022 as compared to the same quarter of 2021, the country’s statistics board INS said Tuesday.
Patria Bank in 1Q/2022 reported net banking income of RON41.5 million, flat from the year-ago period, determined by the evolution of revenues from financial activity affected by market conditions and which shows a contraction of 47%.
Real estate developer Impact Developer & Contractor in the first quarter of 2022 posted property sales revenues worth RON37 million, down 5%, and net profit of RON6 million, from RON1.3 million losses in 1Q/2021.
Astra Vagoane Calatori, a major player on Romania’s rolling stock market, controlled by Valer Blidar, will bring welders, locksmiths and electricians from Vietnam for the Arad plant, where it started producing trams for Bucharest.
Prime Kapital, one of the most dynamic real estate investors, developers and operators in Central and Eastern Europe, has got the building license for Pleiades Residence, Ploiesti, and is due to start works by the end of spring.
Alexandru Lascar, co-founder of Bucharest’s fitness center network Stay Fit Gym, says this year’s plans envisage taking the network to around 20 centers and hitting turnover of around EUR3.5 million, double the 2021 level.
Swiss-held Clariant is set to officially open at end-May the plant it built in Podari, near Craiova, in the wake of EUR140 million investment.
Aaylex Agro cooperative in Buzau, the largest agricultural cooperative in Romania by revenue in the last two years, increased its revenue 38% to RON232 million 2021, according to calculations made by ZF based on data from the Finance Ministry.
BRK Financial Group (BRK.RO), the only broker listed on the Bucharest Stock Exchange, had a net loss of RON2.8 million in the first quarter of 2022 compared to a profit of RON10.7 million in the same period of 2021, according to the company’s financial report sent to the Bucharest Stock Exchange on Monday (May 16).
Alro Slatina, one of the largest vertically integrated aluminum smelters in Europe and the largest electricity consumer in Romania, posted RON18 million losses in the first quarter, down from the RON62 million in the year-ago period.
Real estate consulting firm Cushman & Wakefield Echinox has appointed Roxana Nicolae to the position of Workplace Manager within the Asset Services Department.
Wine producer Purcari Wineries (WINE.RO) recorded a net profit of almost RON12 million in the first quarter of 2022, up 17% on the year, the company said in its financial report sent to the Bucharest Stock Exchange on Monday (May 16).
Romanian startup Flip.ro, a marketplace for the purchase and sale of refurbished mobile telephones, on Monday announced its entry into the Bulgarian market, as part of its goal to become the leader on the market of refurbished products in Central and Eastern Europe.
The Bucharest Stock Exchange said on Monday (May 16) that the shares of STK Properties would start trading on the AeRO market, the equity segment of the Multilateral Trading System, on Wednesday, May 18.
The European Investment Bank (EIB) and Romania’s natural gas transmission company Transgaz (TGN.RO) have signed an agreement for the provision of advisory services to prepare and develop a decarbonization strategy for Romania’s gas network.
Freight transporter Transport Trade Services (TTS) said in a stock market report on Monday that NAVROM S.A., the main provider of river transport services within TTS Group, completed an investment of EUR2.4 million by purchasing a package consisting of 8 EUROPA 2 barges, with a combined capacity of 13,600 tons, a floating dock, and a pontoon.
Romania’s natural gas transmission company Transgaz (TGN.RO) recorded a consolidated net profit of RON258.3 million in the first quarter of 2022, up 67% from RON154.4 million in the same period in 2021, as per the company’s financial report sent to the Bucharest Stock Exchange.
Fondul Proprietatea (FP.RO) posted RON826.1 million net profit in the first quarter of 2022, an increase of 17.8% on the RON701.4 million of the year-ago period, ZF has calculated from the data in the financial report published on the Bucharest Stock Exchange on Monday.
International capital markets are going through a period of significant volatility, and the Romanian capital market has aligned itself with this trend. Rising interest rates, geopolitical tensions, and persistent inflation are some of the factors behind these fluctuations.
Romania’s economy is expected to slow down its growth to 2.6% in 2022 after advancing 5.9% in 2021, the European Commission (EC) said in its Spring 2022 Economic Forecast report released on Monday (May 16).19043 items