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Romanian apparel manufacturer Braiconf Braila (BRCR.RO) has received a financing of EUR400,000 from lender Raiffeisen Bank, which is guaranteed by EximBank, within the COVID-19 state aid scheme intended for large companies.
Romania's current account balance posted a deficit of EUR4.71 billion in the first four months of 2021, compared with a deficit of EUR2.274 billion in the same period in 2020, central bank data showed Monday.
BlackPeak Capital, a private equity firm focused on investing growth equity in Southeast Europe, successfully completed first closing at EUR68.5 million of its target EUR120 million BlackPeak Southeast Europe Growth Equity Fund.
Even though pension funds generated about RON4.4 billion (EUR900 million) net profit for the employees paying into them, 2020 was a bad year for pension fund managers due to the RON14.6 million losses they posted together, which, however, were six times lower than in 2019.
Metaminds, an integrator of cybersecurity solutions and complex IT solutions, had a turnover of RON156 million in 2020, up 23% on the year, while its net profit grew 20%, to RON8.9 million, finance ministry data showed.
Romanian startup LifeBox, founded by Radu Balaceanu, Florin Scarlat, and Lukasz Kuzniar, is expanding outside Romania and enters the healthy food delivery in Hungary under the brand FrissBox.
Pork producers expect prices will grow 25% this year compared with 2020 as African swine fever dwindles local production boosting imports, and the cost of animal feed recorded double-digit growth.
Oscar Downstream, the largest entrepreneurial business in the oil product sector in Romania, saw its net profit grow 3.4 times to RON155 million, as the company managed toe expand its customer base despite a very difficult market.
Nemo Express Logistic and Nemo Prod Com Impex, the companies of the parcel delivery group Nemo Express, posted RON118.6 million revenue together last year, 16% lower compared with 2019, when the revenue stood at RON142 million, ZF has calculated from Finance Ministry data.
Romania has three home appliances manufacturers with more than RON1 billion revenue for the first time – Arctic, De’Longhi and Philips Orastie. The pandemic gave a boost to the industry, which saw growth of almost 20%.
Paval Holding, the financial investment vehicle of brothers Adrian and Dragos Paval – who own DYI retail chain Dedeman, has acquired 5.3% in river freight transporter Transport Trade Services (TTS) for RON31 million.
Rainwater and roofing systems manufacturer Raiko Transilvania (RKOT.RO) had a turnover of RON6 million in 2020, up 28% on the year, and a net profit of RON373,737, up 70% on the year, it said in its annual earnings report.
German automotive group Continental will be shutting down its ContiTech factory in Nadab, Arad county in western Romania, and will relocate production to Carei, Satu Mare in northern Romania.
NN Pensii, the largest private pension fund manager on the mandatory segment in Romania (Pillar II), has acquired 7.58% in Transport Trade Services (TTS), the biggest freight transporter on the Danube, which means it has invested nearly RON44 million.
Arctic Stream (AST.RO), a provider of services in the field of technologies and telecom equipment, data centers and software solutions, on Thursday raised RON21 million via a private stock placement which was more than seven times oversubscribed.
The average net salary in Romania grew 0.4% in nominal terms in April 2021 compared with March 2021, to 3,561 lei (around EUR723), data from the country's statistics board showed Friday.
Romania's annual inflation rate grew to 3.8% in May 2021, higher by 0.5% from 3.2% in April 2021, data from the country's statistics board showed Friday.
Pharmaceutical producer Antibiotice budgeted RON93 million investments for 2021, RON10 million more than in 2020, mainly to develop new facilities at its plant in Iasi.
Construction material wholesaler Temad Brasov ended the first quarter with better than expected results.
Olimpias Mfg. Romania (formerly Benrom) of Italy’s fashion group Benetton has only six employees left and RON1.5 million revenue.18623 items