Romania Feed

Accenture, a company specializing in management consulting services, technological and outsourcing sources, has appointed Raluca Burghelea to the position of Country Managing Director of Accenture Romania, company representatives said in a statement.

The sale of OTP Bank Romania – submission of final bids, choosing a winner – has been pushed from September into October and those still in talks are Banca Transilvania and Raiffeisen Bank, after EximBank signaled it would back out, banking sources told ZF.

Romania's Finance Ministry raised RON623 million from banks on Thursday (Sept 14) selling treasury bills maturing in 2024, at an annual average yield of 6.21%.

Romania's finance ministry on Thursday (Sept 14) announced that a new issue of Fidelis government bonds for retail investors would launch on September 18, 2023.

The Board of Directors of real estate developer One United Properties (ONE.RO) has decided to implement the share buyback program shareholders approved in April.

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 it completed the share capital increase operation and attracted RON48.9 million from investors in the two stages.

Germany’s Rewe Group, one of the most powerful retailers in Europe, which owns discount store chain Penny Market in Romania, is aiming for EUR2 billion sales a year on this market soon, CEO Lionel Souque says.

Roca Industry (ROC1.RO), a construction material holding company, has notified the Bucharest Stock Exchange of the sale by Board of Directors member Mihai Birliba of 300,000 shares for RON7.2 each.

An integrated team of advisors specialized in transactions from PwC Romania has provided tax, accounting and IT assistance services for Alpha Bank Romania during the process of acquiring the retail operations (namely, the mobile payment application, products and client portfolio) of Orange Money Romania.

Romanian state-run port operator Oil Terminal (OIL.RO) on Thursday (Sept 14) announced in a stock market report that it signed an association agreement with Iulius Real Estate, a real estate development company held by businessman Iulian Dascalu, with a view to carrying out a EUR815 million project of urban regeneration and development in the city of Constanta (southeastern Romania).

certSIGN, a Romanian IT&C company and a leading producer of cryptographic solutions in Romania, announces the integration of Paperless, its remote qualified electronic signature service, into the Adobe Acrobat Sign platform for the signing of electronic documents.

Over 56,000 new limited liability companies (LLCs) have been registered from the beginning of 2023 until present, as the small business sector in Romania has traditionally been highly dynamic, with tens of thousands of LLCs established each year, according to data published by the National Trade Register Office (ONRC).

Accor hospitality group, one of the leading players players on the Romanian hotel market, is opening the Mercure Cozieni Hotel following renovation and construction works on the former Cozieni manor.

Based on the signals received from companies and the analyses conducted, AmCham Romania draws attention in a press statement released on Sept 14 to the fact that the turnover tax will have a negative impact on the Romanian economy for multiple reasons.

CreditAmanet holding, a Romanian-held provider of pawnbroking and money exchange services, registered turnover worth RON42.3 million in the first half of 2023, up 26.2% from the RON33.5 million reported in the same period of last year.

REHAU Romania relocated its offices of Tunari, Ilfov, to Bucharest, to the sixth floor of One Cotroceni Park developed by One United Properties, where all the 46 employees of the Bucharest branch will work.

Nokian Tyres, a major player on the global tire market, operated a RON82 million capital increase this July, a sum added to the capital of Nokian Tyres Europe Operations SRL, in line with Trade Registry data.

Meat processor Vanbet based in Vaslui (East of Romania), controlled by entrepreneur Fanel Bogos, posted RON397.7 million (EUR80.6 million) revenue in 2022, an increase of about 43% on the previous year, ZF has calculated from Finance Ministry data.

Prodalcom Botosani, the producer of the Voronskaya vodka brand, owned by three Romanian entrepreneurs, posted RON27.1 million (EUR5.5 million) revenue in 2022, about 3% lower than the previous year’s RON28 million (EUR5.7 million), ZF has calculated from Finance Ministry data.

Star Assembly din Sebes, which is based in Alba County and is the local division of Mercedes-Benz AG, ended 2022 with a turnover of RON9.049 billion (EUR1.835 billion), up almost 28% from RON7.074 billion (EUR1.437 billion), as per calculations by Ziarul Financiar (ZF) daily based on finance ministry data.