Romania Feed

German generics manufacturer Stada, which is building a plant in Turda, Cluj, in 2022 generated RON247 million turnover in Romania, 37% higher than in 2021.

The Bucharest Stock Exchange (BVB), the operator of Romania’s around RON223 billion capital market, is convening its shareholder in April 26 for the approval of the distribution of 2022 net profit, totally worth RON11.3 million, of which RON637,327 for legal reserve and RON10.3 million under the forms of dividends.

Winemaker Cramele Recas, a major player on the Romanian market, for 2023 expects growth of around 7% by volume and of around 15% by value from 2022.

French building materials manufacturer Saint-Gobain in 2022 overshot the 2,000-employee mark in Romania in 2022, after it recruited further amid the expansion of local production capacities.

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, stagnated at 6.90% a year on Tuesday (March 14), in line with central bank data.

Raiffeisen Bank International and Raiffeisen Bank Romania have granted a loan worth EUR40.5 million to a company from the Shikun and Binui Energy Group in Israel for the construction of a photovoltaic (PV) power plant, with a total installed capacity of approximately 70 MW, in Satu Mare.

Orange Romania is taking important steps for the global standardization of 5G technology, the sustainable development of mobile networks, ensuring cyber security and defining the future generations of 6G networks, by getting involved in six research projects within Horizon Europe, company representatives said in a statement.

Shareholders of Libra Internet Bank have approved in their general meeting the re-election of Radu Ghetea, Ionel Umbres, Emilian Bituleanu and Eugen Goga as members of the bank's Board of Directors, for a four-year period, until 2027.

Shareholders of Romanian natural gas producer and supplier Romgaz (SNG.RO) appointed seven members of the company’s Board of Directors for four-year terms, effective March 16, 2023.

The management of One United Properties S.A. on Tuesday (March 14) informed the market that the Vienna Stock Exchange announced that the company’s shares would be included in the ROTX Index, starting March 20, 2023.

Investment fund VR Business Capital, held by Victor Angelescu, has bought a 40% stake in advertising agency Tuio Social Media, as part of a plan aimed at expanding the agency into the digital world.

Poultry producer Oncos Transilvania based in Cluj County has finalized an investment of EUR500,000 in a smart lighting project carried out in partnership with E.ON Energie Romania and implemented in the company’s 45 halls of its farms in the counties of Cluj and Salaj.

Nuclear power producer Nuclearelectrica on Tuesday (March 14) said it was welcoming the adoption of the law approving the signing of the Support Agreement with the Romanian State for the development of the National Strategic Project Units 3 and 4 at the power plant in Cernavoda.

The four-day workweek is coming back to the attention of the players on the labor market, as the largest international experiment in this regard has recently ended and had positive results. Employees in Romania want a four-day workweek, but six in ten companies are reluctant, according to a recent survey conducted by recruitment platform BestJobs.

Dacia Mioveni and Ford Otosan Craiova, the two car plants in Romania, manufactured 87,328 vehicles in January and February 2023, 10% more than 79,282 units produced in the first two months of 2022, as per data from the country's carmakers association ACAROM.

TeraPlast shares have been included by the Vienna Stock Exchange in the ROTX EUR index following the review of its composition. The new structure takes effect starting March 20, 2023.

Confidence in the economy is slowly improving in Central Europe (CE) although risks such as inflation, supply chain issues and the rising costs of energy, materials and labor continue to impact businesses, as per the Deloitte Private Equity (PE) Confidence Survey.

OTP Bank Romania and OTP Bank Plc have sealed a EUR57.8 million loan agreement with Exigent Property Investment for the construction of phase 5 of housing compound Exigent Plaza Residence located in Bucharest’s Militari district.

Romania’s hotel market boasted an accelerated recovery in 2022 and the tendency is set to continue in 2023 as well. Bucharest registered much more intense tourism activity, which reached pre-pandemic levels.

Around 19,000 houses and apartments are likely to be delivered in 2023 in Bucharest and neighboring areas, down by 11% from last year, in line with a market report published by real estate consultancy SVN Romania.