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This article deals with the main elements introduced by Directive 1828/2020 on representative actions for the protection of the collective interests of consumers, the impact it has on various business areas, as well as the potential measures that could be taken by companies to limit the negative impact of class actions. By George Trantea (counsel), Andrei […]

The Romanian logistics and industrial market has accelerated its expansion in 2020 both in terms of demand, which neared the 1 million square meters mark, and deliveries of new spaces, which reached a record 649,000 sqm, real estate consulting company Cushman & Wakefield Echinox said Thursday.

The Measure 3 – “Investment grants for SMEs” budget, intended for companies affected by the pandemic period but wishing to continue their development projects this year or diversify their activities, should be supplemented by at least EUR 500 million or even EUR 1 billion, REI Finance Advisors, one of the largest and most dynamic consultancy […]

Kastamonu Romania (formerly Prolemn), held by Turkey’s wood processing group Kastamonu Entegre, posted EUR136 million revenue in 2020, an increase of 7% year-on-year.

Having recently been appointed as the General Manager of Medicover Romania, Florinela Cirstina has big plans for the company and sees 2021 in a positive light, encouraged by the widespread adoption of telemedicine and the development of innovative new services for patients. By Anda Sebesi   2020 has been a challenging year for everybody. It […]

Romanian state-owned lender CEC Bank has granted a RON60 million loan to Damen Shipyards Mangalia, one of the largest shipbuilders in Europe, operated by Dutch Damen Shipyards Group, to fund current operations.

Hungarian-held construction materials wholesaler Masterplast ended 2020 with RON67 million sales in Romania, an increase of 15% on the previous year.

Telecom operator Orange Romania on Thursday reported a turnover of EUR1.076 billion for 2020, down 3% compared with 2019, while customer numbers grew 1%, to 10.72 million.

French Carrefour Group has announced sales of EUR2.3 billion for its Romanian store chain in 2020, up 2.1% on the year, for similar activities, per a financial report released Thursday.

Real estate consultancy company JLL Romania has recruited Ciprian Sirbu, former logistics manager at Vivre, to manage its Supply Chain Services business line, expanding its services on an increasingly dynamic industrial and logistics property market.

The National Sanitary Veterinary and Food Safety Authority (ANSVSA) has notified The Anticorruption Department (DNA) in connection with suspicions of the crime of abuse of office, corruption and service offenses, crimes against the financial interests of the EU and frustration of disease control, the approach being made following epidemiological controls carried out at Premium Porc […]

The year 2020 came with good things, too, one of which was the decline in personnel turnover in the local outsourcing industry, says Vladimir Sterescu, country manager of CGS Romania, a provider of outsourcing services on the local market.

TeraPlast Group, with its two Plastics and Steel Divisions, exceeded the turnover of RON1 billion in 2020 and its net profit doubled, to RON79 million, company representatives said Thursday.

Family businesses are optimistic about their recovery over the next two years, with 86% anticipating a return to pre-pandemic growth rates by 2022, according to PwC's Family Business Survey.

Ford’s Romanian assembly plant in Craiova could produce electric vehicles in the coming years, in the context of Ford of Europe’s new strategy to reduce carbon dioxide emissions.

Online retailer evoMAG, held by entrepreneur Mihai Patrascu, ended 2020 with sales of over EUR32 million, up 43% on the year.

The number of company insolvencies in Romania reached the lowest level of the last five years. In 2020, over 5,500 companies went insolvent, 13% fewer on the year, and the bulk of insolvencies were in the wholesale sector in 2020 per the latest survey by Coface Romania, Ziarul Financiar (ZF) reports.

TDCX, a leading provider of business process outsourcing (BPO) services based in Singapore, is opening in Bucharest its first office in Central and Eastern Europe and the second in Europe, after launching operations in Spain two years ago.

In the context of Covid – 19 pandemic and with the amount of time spent at home having increased in the past year, together with the increase of Romanians` purchasing power, the Bucharest residential market is undergoing an effervescence period. Developers active in Bucharest are investing a total of 1 billion euros in middle & […]

Managers’ confidence in the Romanian economy has increased in Q4/2020, in conditions in which the decrease in turnover is half compared to the pessimistic expectations at the beginning of the pandemic, according to CONFIDEX Q4 2020 results made public by Impetum Group. CONFIDEX index, which measures managers’ confidence in the economy, grows from 41 in […]