Romania Feed

Local start-up XVision, which has developed a platform based on artificial intelligence algorithms that helps radiologists in reviewing and interpreting medical images, whose products are used by 100 public and private institutions in Romania, Poland, Hungary, Slovakia and Croatia, is changing its brand identity to Rayscape, its officials said.

AVBS Credit, a Romanian broker for banking services, intermediated sales of bank and non-bank loans in the amount of EUR42.5 million in the first seven months of 2022, 17% more than in the same period of 2021, for some 1,000 customers, in line with data provided by the company.

MedLife, the largest private medical services operator on the Romanian market, on Wednesday (Sept 21) announced the appointment of Alina Irinoiu as MedLife’s Chief Financial Officer (CFO), starting with October 1, 2022.

Romanian state-run lender CEC Bank has launched a multicurrency card whereby customers have direct access to accounts in ten currencies and can make payments to merchants and withdrawals without fees and costs associated with currency exchange.

The share of employees across the globe who have seen their roles change following the implementation of intelligent automation solutions continues to rise and reaches 34% versus 23% in 2020 as per the latest edition of Deloitte Automation with Intelligence survey conducted in 34 countries, including Romania.

Agra Asigurari, the company that introduced digitalization in the agricultural insurance sector, has announced the launch on the Romanian market of a platform intended for brokers for issuing agricultural policies.

Sun Wave Pharma, a company specializing in the production of natural supplements, set up in 2008, has ambitious growth plans locally, in Romania, but also in the region, in ECE, where it wants to expand. For the next 3-4 years, the company’s plan is to open its own plant in Romania, said Bedros Kalfayan, Sun Wave Pharma CEO, in an interview with ZF.

Car parts manufacturer Coindu Romania, part of Portuguese group Coindu, currently has 75 jobs available for unskilled workers in the textile industry at its plant of Curtici, Arad county.

Sortilemn Gherla, a major local supplier to Sweden’s IKEA, in the first half of this year generated EUR21.3 million turnover, up 19% from the year-earlier period, in line with ZF calculations based on company data.

Freight forwarder IB Cargo, which delivers freight for clients in the automotive, FMCG, pharma, agriculture sectors and others, estimates it will end 2022 with EUR70 million turnover, from EUR60 million last year, according to the company’s officials.

Real estate developer Impact Developer & Contractor (IMP.RO) has signed loan agreements with OTP Bank NYRT and OTP Bank Romania, it said in a report to the Bucharest Stock Exchange.

Bioclinica, one of the largest players in the market of medical laboratories and collection centers, posted RON230 million (EUR47 million) last year, up 46% on the previous year, ZF has calculated based on information reported to the Finance Ministry by the two largest companies in the group.

Franklin Templeton, the manager of Fondul Proprietatea (FP.RO) has called shareholders for an Extraordinary General Meeting (EGM) and an Ordinary General Meeting (OGM) on November 15, a move approved by its Board of Nominees on September 20, a report sent to the Bucharest Stock Exchange shows.

Grup Serban Holding (GSH.RO), a Romanian entrepreneurial company active in several fields in agriculture, on Tuesday said in a stock market report that it registered consolidated revenue of RON275.2 million in the first half of 2022, up 71% on the year, and a turnover of RON240 million, up 97% on the year.

Poland’s software engineering company Spyrosoft Solutions plans to reach 100 IT experts on the Romanian market by the end of 2022, company representatives said in a statement.

EY Romania’s Strategy and Transactions team assisted Austria’s investment company Enery in acquiring the portfolio of renewable energy projects owned by Canada’s Jade Power Trust in Romania.

HEINEKEN Romania, the second largest brewer on the local market by 2021 turnover, on Tuesday announced its intention to cease the activity at its brewery in Constanta (south-eastern Romania) sometime in September 2023.

With over 10,000 job applications since September 1, 2022, this is shaping up to be the month with the most applicants looking to work abroad.

Romania's finance ministry is going to tap external markets for the fourth time in 2022, selling euro-denominated bonds with four and seven-year maturities.

Pet shop chain Animax, part of the group Pet Network International, on Tuesday announced the opening of two new units, one in capital city Bucharest and one in Turda, following a total investment worth over EUR100,000.