Romanian authorities issued 3,165 residential building permits in October 2024, 9.3% fewer than in September 2024 and 5.4% more than in October 2023, data from the country’s statistics board INS showed on Friday (Nov 29, 2024).
InterCapital Asset Management, the largest independent investment manager in Croatia, with EUR550 million assets under management, intends to launch a new ETF at the Bucharest Stock Exchange, offering investors easy and liquid access to EUR-denominated government bonds.
Turkish group Koç, Türkiye’s largest private holding, present in Romania via Arctic, Beko, Grundig, Ford and Otokar brands, is bringing the KoçZer platform in Romania, via which it wants to ease trade between Türkiye and Romania.
Vista Bank (formerly Marfin) wants to raise cash over the next five years via senior, subordinated and convertible corporate bonds, denominated in euros, lei or another currency, with a maximum maturity of 10 years, up to a maximum of EUR100 million, according to the decisions of the extraordinary general meeting of shareholders on September 6.
Romania's Competition Council announced on Nov 28 that it had conducted an unannounced inspection at the headquarters of the National Institute of Hydrology and Water Management (INHGA) as part of the investigation aimed at establishing whether institute is abusing its dominant position on the hydrological data supply market.
Softbinator Technologies (stock symbol: CODE), a Romanian provider of full software development services (product management, product design, software development, AI/ML development and product marketing), ended the first nine months of 2024 with profit of RON1.4 million, compared to loss of RON2.3 million reported in the same period of 2023.
IPROEB Bistrita (IPRU.RO), Romania's leading manufacturer of cables and conductors, posted a net profit of RON18 million in the first nine months of 2024, up 63.63% compared with the year-ago period, while revenue stood at RON149.4 million, 3.8% higher.
Constructii Hidrotehnice Iasi (stock symbol: CHIA), specialized in hydrotechnics, has announced in a stock market report on Thursday, Nov 28, the signing of a contract worth RON23.13 million, which is double the company's market capitalization.
Geological surveying company Prospectiuni Bucuresti (PRSN.RO) posted RON120.4 milion revenue in the first nine months of 2024, 36% lower than in the year-ago period and RON6.5 million losses compared with a RON25 million net profit.
OMV Petrom (stock symbol: SNP), the largest integrated energy producer in Southeastern Europe, has announced in a stock market report on Nov 28 a strategic partnership with NewMed Energy Balkan, a subsidiary of NewMed Energy, to advance exploration efforts in Han Asparuh offshore block in Bulgaria.
Türkiye-based Trendyol, which operates an e-commerce fashion marketplace officially launched in Romania too in January 2024, will be opening its first warehouse in Romania, in December 2024.
Redport, one of the leading real estate developers in Bucharest, achieved pre-sales of residential units and pre-leases totaling over RON200 million (approximately EUR40 million), nearly double the total performance for the entire year of 2023, as per the company's record financial results for the first 10 months of 2024.
Romania’s general consolidated budget posted a deficit of RON109.42 billion in January-October 2024, or 6.19% of gross domestic product (GDP), which is 75% higher than the RON62.81 billion deficit (3.91% of GDP) reported in the same period of 2023, in line with finance ministry data.
The Romanian Army, via Romtehnica, a company representing the Romanian Ministry of Defense (MApN), has signed with Turkish land systems manufacturer Otokar a multiannual contract worth RON4.26 billion (around EUR857 million) for the supply of 1,059 COBRA II 4x4 armored vehicles to the Romanian Ministry of Defense.
Electronic device maker Visual Fan, which owns Allview brand, for the first three quarters of 2024 reported RON5.1 million net profit at group level, up 56% from the same period of 2023.
Holde Agri Invest, one of the largest farmland operators in Romania, registered RON16 million losses during the January-September period, from a RON22.9 million negative result in the year-earlier period.
Romania managers expect rising prices in the processing industry, constructions, retail trade and services in the next three months, in line with a survey conducted by the country’s statistics board INS.
CFA Romania financial analysts’ economic growth outlooks continue to deteriorate, with the latest survey pointing to a 1.6% value, while for 2025 the economy is expected to decelerate to a real GDP growth rate of 1.4%. Some respondents also forecast a recession.