Romania Feed

Computer and electronics retailer Altex will end 2021 with higher growth in sales than 24% of last year.

The European Commission on Wednesday said it has approved a Romanian scheme worth EUR358 million aimed at supporting small- and medium-sized enterprises (SMEs) active in sectors affected by the Covid-19 pandemic and the restrictions imposed lately.

Scandinavian furniture and home décor retailer JYSK is continuing its expansion in Romania by opening a new store, in the city of Baia Mare, on Thursday (October 28), reaching a 108-unit network on the local market.

Romanian airline Blue Air on Wednesday said it would launch ten new routes from capital Bucharest and the cities of Cluj Napoca and Iasi, within its 2022 summer schedule.

Impetum Group is currently carrying out a new Confidex survey, which will feel “the pulse” of the economy in the second half of 2021.

Alser Forest continues the financing process via the stock market and plans to raise nearly RON3 million in the coming period via a private placement of shares which will be subsequently listed on the Multilateral Trading System of the Bucharest Stock Exchange, according to a statement by Intercapital Invest, as consultant in the financing process.

Romania’s gaming industry posted EUR218.5 million revenue in 2020, an increase of 19.1% year-on-year, a report of the Romanian Game Developers Association (RGDA) shows.

Real estate developer Hexagon, based in Cluj-Napoca and held by Florin Maris and Raul Ciurtin, is building a mixed-use compound on the Policolor platform in capital city Bucharest, with a surface area of 13.9 hectares.

Investment fund GapMinder Ventures, one of the largest players on the local profile market, is selling its 42.2% ownership stake in startup Flip.ro to investment fund eMAG Ventures.

Mihaela Biciu, the longest-serving Chief Executive Officer (CEO) of a brokerage company on the Bucharest Stock Exchange, is leaving Tradeville after almost 24 years.

eMAG Ventures, the investment fund created by eMAG – leader on the Romanian online retail market, with a strong foothold in the region too, has announced its first investment, of EUR1.5 million, in Flip.ro, a startup firm that buys and sells refurbished phones.

Romanian pharmaceutical company Biofarm Bucuresti (BIO.RO) on Wednesday said it registered an aggregate growth of 8% in turnover and of 15% in profit during 2017 – 2020 period.

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, continued its upward trend on Wednesday (Oct 27) and grew to 2.34% a year, per central bank data.

Steel mill Liberty Galati (former Sidex Galati), the largest steel producer of integrated steel in Romania, has launched a series of projects to digitize and automate processes, ensuring the cyber monitoring and management of steel production, as well as improving the interaction with customers and employees.

Romanian engineering and technology firm Simtel Team, listed on the AeRo market of the Bucharest Stock Exchange, announced it acquired a 837,866-sqm industrial land plot in Giurgiu, where it is set to develop a large photovoltaic farm.

In a period when small entrepreneurs were among those who needed support the most, it was not just e-commerce that has come to the rescue. In the domestic retail market there have also been big players that decided to aid new businesses active in the production and services area.

Major shopping center developers and owners have new nationwide expansion plans, but are now hurt by rising energy costs and the falling purchasing power on the market is likely to hinder their business plans for the coming period. Thus, they’re seeking to make green energy investments.

Logistics operator KLG Europe Logistics plans to make investments to expand its hub network in Romania from nine to 20 units in the next five years, explained Daniel Radu, national transport manager with KLG Europe Logistics.

Simpa, one of the oldest bakery plants of Sibiu, majority held Maria Agarbicean (98%) and managed by Alexandru Agarbicean, is set to invest RON1.5 million in machinery to expand its activity.

Swedish-held private medical service provider Medicover Romania, the third largest private medical service providers in the country, said it would open four imaging centers inside its centers in the cities of Bucharest, Iasi, Constanta and Craiova in 2022.