Romania Feed

Romania's antitrust regulator said on Wednesday that it carried out unannounced inspections at Enel Romania, at the electricity distribution companies within Enel Group and at the electricity supply companies part of the Group.

The Board of Directors of building materials holding company ROCA Industry (ROC1.RO) has reelected Ioan-Adrian Bindea as Chairman of the company's Board of Directors for a two-year period, from September 19, 2023 until September 17, 2025.

Romanian technology startup theCoRD.ai is launching the world’s first AI (artificial intelligence) team coaching solution exclusively designed for remote teams, the company said in a press statement.

The volume of construction works in Romania increased, in unadjusted data, by 15.8% in July 2023 compared to July 2022 and was up 15.9% when adjusted to the number of working days and to seasonality, data from the country’s statistics board INS showed on Wednesday (Sept 20).

Prodal 94, a major producer on the spirits market, ended 2022 with RON175.5 million (EUR35.6 million) revenue, up 50.7% from the previous year’s RON116.5 million (EUR23.7 million), according to ZF’s calculations from Finance Ministry data.

Sameday, one of the largest players in the courier market, with RON736 million revenue at the end of 2022, announced that it had invested over EUR1 million in the development of a mobile application through which customers can track parcels in real time, pay by card or postpone delivery, company representatives said in a statement.

2B Intelligent Soft (BENTO.RO), a Romanian entrepreneurial company specializing in development and implementation of software solutions and the provision of IT and Cloud infrastructure services, posted operating revenue of RON23.2 million in the first half of 2023, an increase of 71% on the year-ago period.

Austria’s Kontron Group has bought a piece of the former UTI empire – one of the groups that used to be a key player in the area of IT and security solution contracts awarded by the public sector, the Altimate company, to be precise.

IMPACT Developer & Contractor, the first real estate developer listed on the Bucharest Stock Exchange, will benefit, starting September 28, from the Issuer Market Maker (IMM) services provided by Raiffesen Bank International.

Romanian state-run CEC Bank is launching a new product for the local agriculture sector, namely, the loan with instant approval intended for cereal farmers.

Less than one in five digital households (16%) have reduced or plan to reduce their spending on home broadband, mobile connectivity or streaming, according to the latest EY Decoding the digital home study.

Olympus, the third largest dairy producer in Romania, is investing over EUR40 million in the construction of a logistics center in Halchiu, in the country's central county of Brasov, where there is also a factory built in 2011.

AAylex One of Buzau, the company behind the poultry meat brand Cocorico, has contracted a syndicated credit facility worth EUR15 million which will be used to fund its current activity and support the company's growth plans.

The number of sold income - generating real estate properties (office, retail, industrial & logistics spaces and hotels) during the first half of 2023 increased by 30% when compared with the same period of last year, but the average price per property decreased from EUR24 million to EUR11 million, as per data from real estate consulting firm Cushman & Wakefield Echinox.

Cluj-based AB Systems, which specializes in making RFID and barcode tags, posted more than EUR2.7 million revenue in the first half and the full-year target is EUR5.6 million, an increase of 7.5% on 2022, amid rising demand, especially from abroad.

Corrugated cardboard manufacturer Vrancart Adjud (VNC), a company in which the Paval brothers, the founders of DIY retailer Dedeman have a 17.16% stake, said in a stock market report that Nicolae – Paul Dumitrescu was appointed General Manager of the company, effective September 19,2023.

Paper packaging producer DS Smith Packaging is investing over EUR13 million in its factory in Ghimbav in order to reduce its carbon footprint.

Flip Technologies, a Romanian startup which operates as a marketplace for refurbished smartphones, has expanded operations to Greece, after having previously entered Bulgaria and Hungary.

A total 3,358 new insolvency proceedings were opened in Romania in the first half of 2023, down 4% compared to the same period of 2022, as per the latest survey by Coface Romania conducted in August 2023.

Half of the Romanian employees say they have been contacted on vacation by colleagues and managers to solve situations arising at the office, a third of them take their laptops on their holidays, and about 60% check their work email while on vacation, as per a survey conducted by Undelucram.ro, an online employee community in Romania.