Romania Feed

Romania's industrial production prices for the total (domestic market and non–domestic market) decreased by 3.3% in August 2023 compared to August 2022, data from Romania’s National Statistics Institute INS showed on Tuesday (October 3, 2023).

Vodafone, one of the largest players on the local IT&C market, has appointed Ciprian Zamfirescu to the position of Head of Innovation and Business Development.

Polish company Wittchen, a retailer of travel bags, cases and accessories and leather goods, will enter Romania’s market, with the first store located in Bucharest’s ParkLake shopping center.

Tech company 2Performant Network, the main player on Romania’s affiliate marketing market, intermediated sales worth EUR33.5 million (VAT not included) in its own platform in July-September period, 38% above the level of 3Q/2022, generating fees worth EUR2 million for its affiliates, up 31%.

September brought more than one million applications on the labor market, the highest level since the start of the year, but also around 10% more than in September 2022, reveals an analysis by eJobs, Romania’s largest online recruitment platform.

Suceava-based wrought iron producer Trutzi, controlled by entrepreneur Ciprian Nutu, in 2022 generated turnover worth RON425.4 million (EUR86.2 million), up around 21% from 2021, in line with ZF calculations based on Finance Ministry data.

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.

Modern store networks now cover 33 localities of Romania, with a total of 4.24 million square meters, and will reach another five new cities in the next two years, with the top positions held by Bucharest (1.24 million square meters), Timisoara (234,799 square meters) and Cluj-Napoca (194,709 square meters), stated Nicolae Ciobanu, managing partner-head of advisory and Fortim Trusted Advisors.

Romanians last year spent RON11.7 billion (EUR2.4 billion) in casinos, gambling halls, with the sum being a record high one, around 15% higher than in 2022.

Private pension fund Metropolitan Life Pensii Private, with assets worth RON16.2 billion invested on behalf of 1.1 million Romanians, made five acquisitions at the Bucharest Stock Exchange in August 2023, as per data aggregated by Ziarul Financiar (ZF) daily.

Irish-American fintech Stripe has signed a lease contract for 1,000 square meters of office space in the co-working space The One within Bucharest's One Cotroceni Park project, as per data on the real estate market.

Real estate developer Impact&Developer, an entrepreneurial company held by businessman Gheorghe Iaciu, said in a stock market report Monday evening that it raises EUR8 million from investors through a bond issue.

Orange Romania, the largest player on the Romanian telecommunications market, announces the inclusion in the Orange Fab acceleration program of six new startups that were selected following the call for 5G projects announced in spring 2023.

Audit and consulting firm KPMG in Romania & Moldova has announced new promotions at the level of the management team, starting October 1, 2023.

The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, stays below 6% until the end of 2023, at 5.96%, as announced by the country's central bank for the fourth quarter of 2023 (computed based on data from the second quarter of 2023), comparable with the IRCC value of 5.94% for the third quarter of 2023.

Romania's Finance Ministry raised RON348 million from banks on Monday (October 2), below the targeted level of RON500 million, selling treasury bills maturing in October 2026, at an annual average yield of 6.63%.

New car registrations in Romania increased by 15.46% to 110,011 units in January-September 2023 compared to the same period of 2022, but fell by 11.59% on the year to 10,545 units in September 2023, Romanian carmakers’ association ACAROM data show.

Online retailer eMAG announces the launch of Drinks & Coffee Shop, an online shop-in-shop concept of beverages, wines and coffee, with more than 21,000 products available immediately from the eMAG supply and more than 700 sellers present on the online commerce platform eMAG Marketplace, according to company representatives.

Romania's foreign exchange reserves stood at EUR59.23 billion in September 2023, higher by EUR5.3 billion versus August 2023, after Romania had received a tranche of the National Recovery and Resilience Plan (NRRP) and the state budget had been fueled with money from the finance ministry's eurobond issues, central bank data showed on Monday (October 2).

Law firm Filip & Company is expanding its Real Estate Practice by recruiting Ioana Grigoriu, a lawyer with over 15 years of experience in real estate sector, to the position of counsel.