Romania Feed

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, increased by 1.01% on the day to 2.99% a year on Thursday, central bank data showed Thursday.

Although the Tax Cuts and Jobs Act has been in effect for four tax seasons now, many taxpayers are still trying to get familiar with all the changes. When you look at the changes that occurred though, it’s understandable how taxpayers can be overwhelmed. State and local tax deductions were capped at $10,000, the standard […]

Winemaker Davino of Dealu Mare, known for operating on the premium segment of the market, is to list some wines in major retail chains, having already signed contracts with two major players, with products set to be found on shelves starting January, says Dan Balaban, co-founder of the company.

Nina Gheorghita, a stakeholder in Triagroexim, a company cultivating 600 hectares of grain in Braila county, says 2021 ends with higher-than-expected revenues owing to the record high prices of grain.

Medisprof Cancer Center, a Romanian-held business, which operates a hospital in Cluj Napoca, providing chemotherapy services, is building a second hospital in Cluj-Napoca, a EUR12 million investment, and is set to also develop an oncological center in Piatra Neamt next year.

CTP, the largest developer and owner of industrial and logistics centers in Romania, which owns about 2 million square meters of industrial space, has bought the Mobexpert project in Targu Mureş from Dan Şucu, CTP said.

Unilever has invested more than EUR120 million in Romania over the past 30 years, since the group's first products entered the local market, says Romanian executive Ana-Maria Paslaru, who became general manager of Unilever South Central Europe this year, running a business worth more than RON1 billion in 2020.

Henri Coanda (Otopeni) Airport, the country's largest airport, served almost 6.8 million passengers this year, 54% more than the 4.4 million passengers of last year, according to the data the company officials sent to ZF.

Open-end investment fund BRD Simfonia, managed by BRD Asset Management, has reached a total 92,942 investors on December 27, 2021, being the fund with the most investors on the local market of open-end investment funds, per data collected from its website.

OTP Bank Romania, the domestic subsidiary of Hungary’s biggest banking group, on Wednesday said it increased its share capital for the second time in 2021, by over RON200 million.

Romania's nuclear power producer Nuclearelectrica (SNN.RO) said in a stock market report Wednesday that it concluded a contract of RON254 million for the wholesale energy sale to E.ON Energie in 2022.

Aquila (AQ.RO), the largest player on the consumer goods distribution market in Romania, benefits starting with December 29, 2021, a month after its listing, from the Issuer Market Maker (IMM) services provided by BRK Financial Group (BRK).

Sphera Group (SFG.RO), owner of KFC, Pizza Hut and Taco Bell franchises in Romania, and of KFC restaurants in Chisinau (Republic of Moldova) and Italy, announced in a stock market report on Wednesday the opening of the first Pizza Hut Express restaurant in Romania, in the town of Buzau.

Sphera Franchise Group S.A., owner of KFC, Pizza Hut and Taco Bell franchises in Romania, said in a stock market report that it received the first tranche of RON1.3 million of state aid from the Romanian Government on the basis of an emergency ordinance providing financial aid to companies in tourism, hospitality and event organizing industries whose activity was affected by the COVID-19 pandemic.

The bet of Constantin Dulute, a major Romanian entrepreneur, on Vinicola Averesti 2000, the company behind Domeniile Averesti wine brand, is ever bigger.

Atenor completed the sale of Dacia One project to Paval Holding, in a sale with a financial impact of EUR50 million, according to the Belgian company.

Luchi Georgescu, the entrepreneur owning cold cuts plant Meda Prod 98, a major player on the market, says she’s seeking solutions to cut electricity costs and wants to generate power from photovoltaic panels for at least 10% of the plant’s daily consumption.

The third clinic under Prevent umbrella is going to be opened in 2022.

Annabella Fabrica de Conserve Raureni, a company part of Annabella group owned by Mutu family of Valcea county, plans to take over Fabka Group, in line with information provided by the Competition Council, which cleared the deal.

Retailer Profi, held by buyout investor Mid Europa Partners, opened a total of 19 new stores in December, 18 of which were in the Loco format used in rural Romania.