Romania Feed

The International Monetary Fund (IMF) predicts an economic growth of 2.2% for Romania in 2023, lower than in its previous spring projection of 2.4%, according to its latest report released on Tuesday (October 10).

tbi bank, a Southeastern Europe leading challenger bank, operating in Bulgaria, Romania, Greece, Germany, and Lithuania, was assigned an investment rating, reflecting Counterparty Risk – Baa3, and Ba2/NP long- and short-term deposit rating from Moody’s Investors Service (Moody’s).

Garanti BBVA has decided to extend its lease contract for five more years, maintaining the 7,200-square meter office space for its headquarters in the YUNITY Park, a project developed by Genesis Property.

More than half (56%) of executives say their current business transformations aren’t working, according to an analysis from global consulting firm Kearney.

Romania's trade balance posted a deficit of EUR18.2 billion in January-August 2023, lower by 17.2% compared with January-July 2022 period, data from the country's statistics board INS showed on Tuesday (October 10).

EVOLOR has finalized the acquisition of former pain plant Chempro, located on the Oltchim Ramnicu Valcea platform, and has a EUR3 million investment program to modernize it, part of its strategy of regional expansion via the development of new production and logistic capacities.

Aluminum producer Alro Slatina has approved the start of three new investment projects worth EUR15 million aimed at decarbonizing the technological process and increasing competitiveness, in parallel with alignment with the latest requirements and recommendations in the field of environmental, according to the company’s representatives.

Romania M&A market in the first nine months of 2023 registered 183 deals, down 6.2% from the same period of 2022, a trend also visible in terms of value, with a 19% decline to $4.2 billion, reveals a E&Y survey.

The shareholder of real estate developer ONE United Properties have greenlights the payments of a 0.01/share half-year dividend, namely a total sum of RON38 million, meaning a 1% return, in line with ZF calculations based on the current trading price.

Store chain dm drogerie markt wants to expand the warehousing area of Timisoara center amid the expansion of the network and the increase in the number of products.

The ten most active brokers at the Bucharest Stock Exchange intermediated deals worth RON3.22 billion in September 2023, accounting for 88.5% of total intermediations, as per calculations by Ziarul Financiar (ZF) daily based on stock market data.

Chemical fertilizer wholesaler Solarex Impex reported a turnover of RON258.3 million (EUR52.4 million) for 2022, up 10.2% from a turnover of RON234.3 million (EUR47.6 million) reported in 2021, as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.

PepsiCo, one of the leaders in the food and beverage industry, has announced the appointment of Radu Berevoescu as General Manager & Senior Commercial Director East Balkans.

Romania's Finance Ministry raised RON600 million from banks on Monday (October 9), selling treasury bills maturing in 2031, at an annual average yield of 7.18%.

Romanian entrepreneurial company Secom, a dietary supplements, teas and cosmetics importer, wholesaler and retailer, will be investing over EUR530,000 in its own retail network, in 2023.

Zambelli Metal, part of Germany's Zambelli Group, a company operating in the field of metal processing, has selected Romanian electricity supplier Electrica Furnizare to carry out a turnkey solar (PV) photovoltaic power plant project at Zambelli factory in Sfantu Gheorghe (Covasna County).

The total hydrocarbon production of OMV Petrom (SNP.RO), Romania's largest oil and gas company, stood at 113,500 barrels of oil equivalent (boe) per day in the third quarter of 2023, down 3.2% from the same period of 2022 and slightly lower versus the previous quarter, as per data aggregated by Ziarul Financiar (ZF) daily from a report published by Petrom at the Bucharest Stock Exchange.

Insurance company Omniasig, part of Austria’s Vienna Insurance Group (VIG), reported gross written premiums of over RON1.1 billion in the first half of 2023, higher by 5% from the same period in 2022.

Vodafone and Orange have achieved a significant milestone by successfully conducting a pilot project involving real 4G calls over shared commercial network sites in rural Romania, utilizing Open Radio Access Network (RAN) technology.

Romania's finance ministry has raised RON534.8 million and EUR191.3 million (values amounting to just almost RON1.5 billion – EUR300 million) through the 13th primary offer for the sale of government securities dedicated to retail investors (FIDELIS) held in the last four years, using the Bucharest Stock Exchange (BVB) systems.