Romania Feed

The December issue of Business Review Magazine is out! Read it online by clicking here. To download the magazine in PDF format fill out this form and we’ll make sure to send you your copy.   In this issue: WHO’S NEWS: Mihai Bordeanu (Dacia); Dr. Florinela Cirstina (Medicover); Violeta Luca (Microsoft); Marian V. Popa ( Globalworth); Valentin Vasile (Schneider Electric); Main Cover Story: […]

The current disruption of the European hotel industry will continue until mid-2021 and the recovery period will be significantly longer, as 51% of hospitality owners, lenders, developers and investors expect to reach again the 2019 performance levels in 2023 and 20% believe it will not be until 2024 and beyond, according to the latest edition […]

VARD, one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that Vard Braila and Vard Tulcea shipyards will be brought under one roof as from June 30th, 2021 to become a more supple and efficient organization. The process of integrating the two yards has been launched based on a […]

HP Inc. unveiled HP Amplify™ Impact, an industry-first partner assessment, resource and training program aimed at driving meaningful change across its three Sustainable Impact pillars – Planet, with an emphasis on climate change; People with an emphasis on human rights and social justice; and Community with an emphasis on bridging the digital divide. Partners that […]

Retailer cora Romania, part of French-Belgian group Louis Delhaize, is launching its cora Urban convenience store format, tapping a retail segment that has seen increased activity amid pandemic-related restrictions.

Romania's natural gas transmission company Transgaz (TGN.RO) said in a market report Friday that Allianz SE, parent company of Allianz-Tiriac Pensii Private, has exceeded the 5% holding threshold on February 8.

Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) on Friday reported a net profit of RON3.55 million for 2020, up 47.8% compared with 2019.

Romania's government has set a cap on the country's public debt at 55% of gross domestic product for 2021 under EU methodology.

Online retailer and manufacturer of mobile phones and gadgets iHUNT (HUNT.RO) on Friday listed its first corporate bond issue on the Bucharest Stock Exchange under the ticker symbol HUNT23.

Parcel delivery company Sameday held by online retailer eMAG, last year saw its revenue double both because of the rise in online commerce and because of the investments it has made in the last few years.

Baneasa Shopping City, the mall in northern Bucharest operated by Baneasa Developments, plans to stay fully rented in 2021 and has adjusted the way it calculates rents accordingly, by lowering them.

Romania's 2021 state budget bill targets a budget gap of around RON80 billion, around 7% of the country's gross domestic product, down from a deficit of 9.8% in 2020, based on a GDP growth projection of 4.3%.

Video games developer Firebyte Games held by Cluj-based brokerage firm BRK is starting its private placement on Monday, February 15, to raise funds for development from investors, after which it will go public on the Bucharest Stock Exchange, the company officials say.

Romania's annual inflation rate stood at 3% in January, mainly driven by higher electricity prices due to the liberalization of the country's retail electricity market on January 1, data from the country's statistics board showed Friday.

International rating agency Fitch Ratings has affirmed Garanti Bank S.A.'s (GBR) long-term Issuer Default Rating (IDR) at 'BB-' with a negative outlook and Viability Rating (VR) at 'bb-', per data on the agency’s website.

Agroland Business System, a company that owns the most extended chain of farming product stores in Romania, held by businessman Horia Cardos, has summoned the extraordinary general meeting of shareholders to approve the transformation of Agroland Agribusiness from a limited liability company into a joint-stock company, per a stock market report.

Norway’s VARD Group, one of the major global designers and shipbuilders of specialized vessels, will integrate the shipyards in Braila and Tulcea into a single administrative entity, starting June 30, 2021.

Romania’s private medical services market reported an increase of 18% in turnover on the year to nearly RON14 billion in 2019, and a surge of nearly 330% compared with 2010, per a Keysfin survey.

In a comprehensive report on trends in e-commerce noticed throughout 2020, www.glami.ro the first online fashion search engine in Romania, identified AI (artificial intelligence) as one of the main triggers for fashion e-commerce  innovation in 2021. More than ever before, e-shops are willing to invest in machine learning and AI tools meant to cut losses […]

Digital Stack, the division of the Informal School of IT group, destined for the alternative education segment in the B2B sphere, relies on a return of companies’ investments in staff training in the context in which companies used only 20 % of the amounts they budgeted, focusing strictly on IT and digitization courses related to […]