Romania Feed

The Filip & Company team is assisting residential developer Alesonor in partnering with Pescariu Sports & Spa to develop the sports center and leisure areas in the Amber Forest project.

Dr. Fischer Dental (DENT.RO), leader on the Romanian dental equipment market, whose shares started trading on the Bucharest Stock Exchange in 2022, on Friday (Sept 30) announced in its financial report a net profit of RON190,080 for the first half of 2022, down 80% from RON924,215 from the same period of 2021.

Pharmaceutical manufacturer Biofarm (BIO.RO) has reached total investments of over EUR44 million in its new plant inaugurated in capital Bucharest in 2021, which is the largest greenfield investment in the Romanian pharmaceuticals sector.

Electrica Group said in a report intended for stock market investors that is in the process of evaluating the impact of the latest legislative and regulatory changes on the Group's performance and results.

Romania attracted foreign direct investments (FDI) totaling EUR8.9 billion in 2021, with enterprises’ equity standing at EUR6.7 billion (equity capital worth EUR2.16 billion, plus reinvestment of earnings worth EUR4.58 billion), an analysis by the country’s central bank and the statistics board INS shows Friday (Sept 30).

Romanian authorities issued 30,620 residential building permits in January-August 2022, 10.5% fewer than in the same period of 2021, data from the country’s statistics board INS showed Friday.

The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, grew to 4.06%, higher by 53% than the previous level of 2.65%, in line with central bank data released on Friday (Sept 30).

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, ends the September 26-30 week at 7.93% a year after stagnating at 7.93% a year over the last three trading days, as per central bank data.

Romania’s unemployment rate stood at 5.1% in August 2022, lower by 0.1 percentage points than 5.2% in July 2022, data from the country’s statistics institute INS shows on Friday (Sept 30).

Kosarom group, a major meat producer in Romania, majority owned by entrepreneur Neculai Apostol, will invest EUR278,000 to install 400 kWp photo-voltaic generators.

Promateris (PPL.RO), a manufacturer of biodegradable and compostable packaging, announced on Thursday evening that Paval Holding - controlled by Adrian and Dragos Paval, shareholders of DIY retailer Dedeman, had acquired a 24% stake in the group from businessman Florin Pogonaru and Promateris CEO Tudor Georgescu.

Banks have seen the highest growth in customer satisfaction scores this year and have become the leader in terms of customer satisfaction and experience in Romania, outranking grocery retail, which was last year’s leading industry, as per the second edition of The McKinsey Customer Experience Romania Survey.

International Finance Corporation (IFC), a member of the World Bank Group, ramped up support for Romanian companies with a record investment of $458 million between July 2021 and June 2022 in order to protect jobs, support small businesses and accelerate a green and resilient recovery.

Renewable energy is mentioned by 75% of the respondents to the “Romanian perspective on the impact brought by climate change” study when asked which form of energy should be prevalent in Romania.

Low-cost carrier Wizz Air on Thursday (Sept 29) announced the launch of two new routes from Romania to Leeds (Great Britain), starting October 2022.

The US dollar has depreciated slightly against the Romanian currency on Thursday (Sept 29), for the first time in the last week, as the central bank’s average reference rate stood at 5.1027 lei to the dollar.

Romanians’ spending habits have not changed a lot since before the pandemic, and expenses are uniformly spread across the week, with slight differences between working days and weekend days, a report of Mastercard Economics Institute, which looks at how consumers across the world are holding tight to habits that offer convenience, experience or both, says.

Lender Raiffeisen Bank has provided financing of RON5 million for the construction of the RoCordis hospital in Timisoara (western Romania).

Gaetan Pacton will take over the position of Chief Executive Officer (CEO) of grocery retailer Profi starting October 1, 2022, according to company officials.

Real estate developer Impact Developer & Contractor (IMP.RO) completed in the Greenfield Baneasa project a new stage of development, Panoramic Apartments, with a total market value estimated at over EUR16 million.