Romania Feed

Energy is now top of mind for consumers as it increasingly impacts their lifestyles and their wallet, according to the EY ‘Energy transition consumer insights’ report which surveyed 70,000 residential energy consumers across 18 markets over two years.

A monthly report conducted by Storia.ro in November 2022 considered the top ten cities in Romania which were the most active on the rental market in terms of the number of ads published, listing the cities of Bucharest, Cluj-Napoca, Brasov, Constanta, Timisoara, Iasi, Craiova, Sibiu, Oradea, Arad.

Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, has announced the opening of a subsidiary in Chisinau, the Republic of Moldova, through the setting up of a local company, called Simtel Solar, in which the company owns 100% of the entire share capital.

Automobile Dacia board of directors has convened the general extraordinary meeting of the company’s shareholders for January 5, 2023, with a view to approving in principle a partial break-up of the Company, Automobile Dacia, by splitting off part of its patrimony.

Mediapost Hit Mail group, controlled by a subsidiary of the French Post, expects to generate EUR55 million turnover this year, from EUR47 million last year.

Bucharest continued to see rising housing demand in November as well with 6,435 units being traded in the capital city and Ilfov, up 30% from the 4,946 of November 2021, in line with data from the national cadaster agency ANCPI.

Comalim Arad (MALI.RO), a company engrossed in meat and meat products wholesale, announced in a stock market report the conclusion of a sale and purchase contract worth EUR3.15 million (RON15.5 million).

Irish-held Keywords Studios, a provider of services to the games industry, which entered Romania by acquiring AMC RO Studio - a 3D art and design studio providing creative 3D visual design and development services, in 2021, announces the opening of a studio in Bucharest and plans to hire more than 1,000 people in the first five years in business, its officials said in a press release.

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, stayed put at 7.75% a year on Monday (Dec 5) after being on downward trend at the beginning of December 2022, in line with central bank data.

E-learning company Ascendia (ASC.RO), listed a new bond issue on Bucharest Stock Exchange’s Multilateral Trading System on Tuesday.

Logistics space developer Logicor has completed the development of the last building of approximately 23,000 sqm of the state-of-the-art Logicor Bucharest I Logistics Park in Mogosoaia, 12km northwest of Bucharest city center.

The e-commerce segment has strongly developed in Romania over the last ten years, especially during the pandemic and, according to public data analyzed by Clean Recycle, approximately 10,000 online platforms are active in Romania, selling products from various categories.

Law firm Tuca Zbarcea & Asociatii has assisted US company GlobalLogic Inc. in acquiring Fortech, one of Romania’s leading IT services providers, a transaction which marked GlobalLogic’s entry into the Romanian market.

The Bank Lending Survey released by the European Investment Bank (EIB), with a focus on Central, Eastern and Southeast Europe (CESEE), looked into data collected in September 2022 and outlines the expected trajectory for the next six months regarding the credit demand, supply conditions and credit quality.

Kaufland Group continues to expand its store network in the Republic of Moldova and opened its eighth store in the country.

Shareholders of Grup Serban Holding (GSH), a Romanian entrepreneurial company active in several fields in agriculture, approved in Monday’s general meeting the distribution of RON10.5 million from the remaining undistributed net profit related to the year 2020, in the amount of RON17.4 million, for capitalization and the granting of shares to shareholders.

Tulcea-based bakery producer Lidas in early 2022 started an investment in a bakery plant in Tulcea, worth EUR46 million and announced it sought to hire 200 people. Its number of employees rose from less than 200 at end-2021 to 380 in November 2022.

Output of upholstery and covers, including car covers, topped EUR470 million in Romania, in line with Eurostat data. Thus, Romania ranks first in the EU, also covering a quarter of European production by value, in line with ZF calculations.

Astra Vagoane Calatori plant, one of the biggest players on the local rolling stock market, will operate at full capacity next year, when it is due to deliver 48 streetcars to Bucharest and other cities in Romania.

Flextronics Romania, the local subsidiary of the Singapore-based Flex Group (Flextronics), which manufactures components for communications, IT and medical equipment, currently has over 320 jobs available, the website of the Timis County Employment Agency (AJOFM) shows.