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Construction group TeraPlast announces the expansion of its management team with the appointment of Laszlo Vajda as development director. He will start work in December and will coordinate development strategies for all companies within the group.
In 2019, Romania recorded the highest national VAT compliance gap with 34.9% of VAT revenues going missing in 2019, placing it first among European Union Member States, in line with a PwC analysis citing data from the European Commission report released on December 2, 2021.
Libra Internet Bank, the first bank in Romania to offer a 100% online bank account and 100% online loan, continues the financing through the capital market and lists its second bond issue, worth EUR40 million. The bonds are traded on the Bucharest Stock Exchange’s Main Market, under the ticker LIBRA28E, on Friday (December 3).
Cris-Tim, one of Romania’s biggest entrepreneurial businesses, is considering new market segments, but also boosting its operations set to generate around EUR150 million this year, up 17%.
Valcea-based healthy food producer SanoVita, founded in 1995 by three entrepreneurs, ended the first nine months of this year with 12% higher revenues and expects to hit RON85 million turnover in 2021, according to its officials.
Meta Estate Trust, a holding-type company operating in the real estate field, has successfully completed the last private placement ahead of AeRO listing scheduled for 2Q/2022.
Footwear retailer Benvenuti, controlled by local entrepreneur Dan Pavel, opened the sixth Enzo Bertini store in Romania, and the third in Bucharest, in Sun Plaza Bucharest.
Cosmin Buzaianu, a stakeholder in Focsani-based packaging maker Electric, says the company has invested EUR2.5 million to double production capacity for all packaging types.
Agricola Bacau, a major player on Romania’s poultry market, also producing cold cuts, as well as ready meal items and eggs, invested in its own research center to tailor supply to market demand, said Grigore Horoi, the chairman of Agricola group, with revenues of above RON730 million in 2020.
Oradea-based producer of PVC and aluminum windows and doors Optimedia, owned by Romanian entrepreneurs Marius and Simona Pantis, for the first 11 months of 2021 reported turnover of around EUR41 million, 44% higher than in the same period of last year.
Ergonomic chair maker Antares Romania, a subsidiary of Czech group Antares, expects to hit turnover worth RON37.7 million (EUR7.6 million) in 2021, in line with ZF calculations based on company data.
Romania’s economy significantly slowed down its growth rate in the third quarter of 2021 and a slight recession is possible in the fourth quarter of 2021, in the context in which the economy exceeded the pre-pandemic level, the pandemic situation keeps deteriorating and the rising inflation has started to bite on people's household income, according to OTP Bank analysts.
Automotive component manufacturer Compa Sibiu (CMP.RO) said in a stock market report Thursday that private pension fund Vital, managed by Aegon Pensii, owns 12.3 million Compa shares, respectively 5.62% of the company’s voting rights, following several deals carried out on November 24, 2021.
Polish fashion retailer Sinsay, part of LPP Group, will be opening two stores in the Family Market shopping centers developed by Iulius Group in Iasi County.
Claudia Pendred has received the approval of Romania’s central bank for the position of independent member in the Supervisory Board of Raiffeisen Bank.
Law firm Filip & Company has assisted DIGI Group in the process of selling DIGI Távközlési Szolgáltató Ltd. and the subsidiaries Invitel, I TV and DIGI Infrastructure towards 4iG, which operates on the Hungarian IT and telecom market.
New car registrations in Romania dropped by 13% on the year to a total 11,480 units year-over-year in November 2021 and by 0.9% to a total 110.377 units since the beginning of 2021, data from the association of automotive manufacturers in Romania (ACAROM) showed Thursday.
Romania's foreign exchange reserves fell by EUR560 million in November 2021 versus October 2021, to EUR39.2 billion, central bank data showed Thursday.
Forty Management, one of the leading real estate developers of mixed-use and urban regeneration projects in Romania, led by Lucian Azoitei, announces the completion of the international selection for design, engineering and technical assistance services for the construction of the Lagoon City mixed-use complex in Bucharest.
Scandinavian furniture and home accessories retailer JYSK on Thursday said its turnover grew by 30% to RON793.6 million and its profit before tax soared by 82% to RON148.8 million, in Romania, in 2021 financial year ended on August 31.19451 items