Romania Feed

Israel's Elbit Systems will deliver $120 million worth of turrets, weapon stations and mortar systems to the Romanian Military, the company announced on Friday.

Law firm Wolf Theiss assisted Belgium-held real estate developer Speedwell in securing a EUR24.3 million and RON17.6 million green loan from BRD-Groupe Société Générale to build two residential buildings in Timisoara, as part of the Paltim project.

Romanians spent almost EUR5 billion on electronics, home appliances, cell phones and IT products in 2022, a record high for the Romanian market, which stood at only one quarter of the current value in 2010, ZF has calculated from information from the sector. The year 2010 was the lowest point of the industry, which has been growing ever since.

Donna Medical Center, a business set up in 2011 by Elena Claudia Teodorescu, a radiologist specialized in breast imaging, in 2022 posted EUR4.5 million turnover, 15% higher on the year, and expects similar two-digit growth this year.

Dacia is likely to be heading again to annual output of 350,000 cars in Mioveni as the parts crunch is overcome.

By mid-2023, Romania is likely to have its first strategy for the development of local hydrogen production, with Galati and Dobrogea being seen as potential hubs for this new industry.

Francois Coste, the chief executive officer of Groupama Asigurari, which became the insurance market leader in Romania shortly after former leader City Insurance went bankrupt, has received approval from the Financial Supervisory Authority to continue in his position, the Authority said.

State-run Oil Terminal (OIL.RO) received approval from the Energy Ministry to start negotiations with real estate developer Iulius Group on a EUR815 million urban regeneration project in Constanta.

Transelectrica (TEL.RO), the operator of the national energy transmission system, announced in a stock market report the structure of the Supervisory Board after its seven provisional members appointed by the Decision of the Ordinary General Meeting of Shareholders of February 16, 2023 signed, in front of the notary public, the declaration of acceptance of mandates.

Romania's finance ministry raised nearly RON1 billion on Thursday (March 2, 2023) through two government bond issues, at annual average yields of 7.99% and 7.27%, respectively.

Romania’s Financial Supervisory Authority (ASF) has approved the increase of the share capital of Euroins Romania by RON44.7 million, according to ASF representatives.

Evergent Investments (EVER.RO, formerly SIF Moldova) posted RON82.9 million net profit in 2022, an increase of 78.6% year-on-year, ZF has calculated from the preliminary unaudited annual financial report submitted to the Bucharest Stock Exchange.

Metaminds, a Romanian integrator of cybersecurity solutions and complex IT solutions, switched to a new management system and recruited Ovidiu Ghiman, one of the most famed Romanian executives in the IT&C industry, to run one of the newly established bodies, as part of a growth acceleration plan tat also entails raising financing, the company said in an announcement.

Romanian building materials producer COMCM Constanta (CMCM.RO) on Thursday reported total revenue of RON1.2 million for end-2022, down almost 90% versus 2021, as per the company’s annual preliminary results.

P3 Logistic Parks (P3), a long-term investor, developer and manager of logistics properties in Europe, concluded transactions for over 98,500 square meters of logistics and office space on the Romanian market in 2022

E-Distributie companies, the electricity distribution operators within the Enel Group, in 2022 invested approximately RON106 million from own funds in high voltage projects in Bucharest, Ilfov and the regions of Dobrogea and Banat.

Law firm Filip&Company has expanded the team of partners by promoting Cristina Tudoran (Employment and Dispute resolution) and Silviu Vasile (Competition), while Simona Ungureanu (Corporate and M&A) was co-opted into the team of senior associates.

Romania's industrial production prices for the total (domestic market and non–domestic market) increased by 24% in January 2023 compared to January 2022, data from Romania's statistics board INS showed on Thursday (March 2, 2023).

Romania’s unemployment rate stood at 5.6% in January 2023, the same as in December 2022, data from the country’s statistics institute INS shows on Thursday (March 2).

Online supermarket Sezamo, part of Czech group Rohlik, wants to reach 3,000 orders per day, this year as it went beyond the 1,000 orders per day mark four months after its official launch.