Hungary | Romania Feed

Romania ranks 21st among the 27 EU member states in terms of GDP per capita expressed in purchasing power, respectively 22% below the EU average, beating Hungary, Croatia, Slovakia, Latvia, Greece and Bulgaria, in line with Eurostat data.

5 to go coffee shop plans to reach 10 units in Hungary, where the Romanian business already operates four.

The total investment in commercial real estate assets, encompassing office spaces, retail establishments, logistics and industrial spaces, and hotels, across Poland, Czech Republic, Hungary, Slovakia, and Romania, amounted to just EUR5.1 billion in 2023, the lowest annual amount of the last decade, but 2024 outlook shows renewed optimism, as per a report drafted by iO Partners in collaboration with JLL.

eMAG has appointed Mircea Tomescu to the position of Chief Marketing Officer for Romania, Hungary, and Bulgaria.

Cargus, a major player on Romania’s courier services market, is expanding its foothold on the markets of Czechia, Slovakia, Germany, Hungary, Bulgaria and Greece after entering Poland, where it has a cross-dock operational facility for international players wanting to sell their products to Romanian consumers.

Hungary’s OTP Bank Group, one of the largest banking groups in the region, has started to discreetly probe the market to assess interest from other banks to buy OTP Bank Romania, banking sources told ZF.

eMAG, the biggest online retailer in Romania, has got long-term funding worth almost EUR70 million from Alpha Bank, which will support the construction of a state-of-the-art logistic center near Budapest, Hungary, with a capacity of as much as 120,000 square meters, an over EUR100 million investment.

Luxury jewelry chain Teilor is expanding further on foreign markets by opening its four store in Hungary.

In 2021, among EU member states, the highest average annual adjusted full-time salary was in Luxembourg (EUR72,200), Denmark (EUR63,300) and Ireland (EUR50,300), and the lowest in Bulgaria (EUR10,300), Hungary (EUR12,600) and Romania (EUR13,000), according to a report by Eurostat, the statistical office of the European Union (EU).

eMAG Group is consolidating its management team in Hungary by appointing Daniel Spiridon to the position of CEO, effective September 1, 2022.

Luxury jewelry store chain Teilor, with bonds listed on the Bucharest Stock Exchange, is further expanding in Hungary by opening its third store in Budapest and reaches a 62-unit network in five countries of Central and Eastern Europe.

MOL Romania Petroleum Products, the local subsidiary of Hungary’s MOL, for 2021 reported turnover of above RON7.9 billion (EUR1.6 billion), up 42.6% from 2020, in line with ZF calculations based on Finance Ministry data.

Filip & Company Law Firm assisted DIGI in the sale of DIGI Távközlési Szolgáltató Ltd. and of its subsidiaries Invitel, I TV and DIGI Infrastructure towards 4iG, active on the IT and telecommunications market in Hungary. The transaction was concluded on Monday, 29 November, the value of the investment reaching EUR 625 million.   “DIGI […]

Cooking equipment retailer Kitchen Shop will grow to 19 stores after opening its second store in Hungary. The other 17 offline stores are in Romania.

Hungary’s roof tiles producer Terran opened a solar roof tile factory in Hungary wherefrom it will bring products to Romania as well, starting 2022.

Jewelry chain Teilor plans to invest RON30 million by yearend to develop its store network in Romania, Poland and Hungary, with the amounts earmarked per project averaging RON3.5 million.

BMW’s EUR1 billion investment in a plant in Debrecen, Hungary, will attract new investments in automotive component manufacturing in Romania, as well. The first two such investments went to plants in Arad and Oradea, which Global Vision built for two suppliers.

Romanian startup LifeBox, founded by Radu Balaceanu, Florin Scarlat, and Lukasz Kuzniar, is expanding outside Romania and enters the healthy food delivery in Hungary under the brand FrissBox.

European fashion platform Zalando plans to expand to Romania and Hungary in 2022, after tapping new markets in Croatia, Estonia, Latvia, Lithuania, Slovakia and Slovenia in 2021.

Szallas.hu, the largest online hotel reservation platform in Hungary, merged last year with the Romanian hotel reservation platform, Travelminit.ro. The process began two years ago and was accelerated in 2020, despite the pandemic situation and general uncertainty in the global tourism industry. The value of the transaction remains confidential, but in these two years of […]