Romania Feed

Eldrive Romania, the company owning the charging station network of the same name, has started installing EV charging stations in the parking lots of shopping centers owned by Austrian real estate group Supernova.

The hotel market of Cluj-Napoca has added a new five-star hotel. With a EUR15 million investment, Cristina and Claudiu Petrut have opened Vibre hotel aimed at the business segment.

Hard Rock Café of Bucharest’s Herastrau park ended 2022 with turnover worth almost RON27 million, a record high level for the restaurant-café opened around 15 years ago.

Bookstore chain Carturesti, controlled by Nicoleta Dumitru and Serban Radu, is further accelerating expansion and is set to open new bookstores in Cluj-Napoca, Arad, Craiova and Vaslui.

Mogotel group, a Latvia-based international hotel operator, wants to enter Romania market and plans to open 20 hotels in Bucharest and countrywide.

Romanian producer of organic farming inputs Norofert (NRF.RO) ended the first half of 2023 with a turnover of RON20.17 million at group level, down 32.52% compared to the same period of 2022, in line with the half-year financial report published at the Bucharest Stock Exchange on Friday (Sept 8).

Airline Wizz Air announces that it will close its base in Suceava starting October 28, 2023, but will continue to operate flights on five current routes from Suceava to London Luton, Rome, Milan Malpensa, Dortmund and Memmingen.

CPI Property Group, one of the largest real estate owners in Europe, has signed a ten-year lease, for an area of 3,070 square meters in myhive Victoria Park office building, with The Home interior design brand.

Private investment firm McWin Capital Partners has become the sole franchisee of the Popeyes brand in Romania, via fast food restaurant platform Rex Concepts.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, continued to stagnate at 6.40% a year, the same as in the second half of August 2023.

Arggo Software Development & Consulting, a Romanian company specialized in providing consulting services and software solutions for enterprise resource planning (ERP) for companies operating in various industries and sectors, ended 2022 with a turnover of over EUR5.5 million (over RON27.3 million), up over 27% from EUR4.3 million (RON21.4 million) in 2021, as per finance ministry data.

Cristina Obreja M.D., a dentist with 15 years of experience and co-founder of the Life Dental Spa chain of dental clinics, has taken over the position of Chief Executive Officer (CEO) of the chain, starting September 2023.

The Romanian land market remained highly active in the first half of 2023, reaching an estimated turnover of around EUR250 million, as per a report by Colliers regarding the evolution of the real estate market in the first half of 2023.

Deloitte Romania is consolidating its Tax Practice by promoting Ana Sabiescu, Daniel Grigore, Loredana Ilea and Simona Mergeani to the position of directors, effective September 1, 2023.

Entrepreneur George Adragai has become the sole shareholder of Luca's pretzel shop chain after Cosmin Postole retired from the business, official data shows. The two co-founded the business in 2010 and owned equal shares in Tinervis Group, the company that operates the chain of pretzel shops.

Simtel Team (SMTL.RO), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in renewable energy, made RON6.5 million net profit in the first half of 2023, up 119% on the year-ago period, while revenue reached RON122.5 million, up 226%, the company said in a report to the stock market on Thursday.

Yazaki Group, one of the largest automotive component suppliers, on Thursday announced it would adjust production capacity given the current situation of the global market, where the electrification trend is gaining speed, by closing the automotive component plant in Brasov and cutting the number of jobs in Ploiesti.

Romania's Finance Ministry raised RON550 million from banks on Thursday (Sept 7), selling government paper with a nominal value of RON500 million at an annual average yield of 6.44%.

Romania’s Competition Council carried out unannounced inspections at the premises of several commercial banks suspected of having colluded to set loan interest rates, according to sources on the financial market.

Romania’s gross domestic product (GDP) grew by 1.7% in real terms (in unadjusted data) in the first half of 2023 compared to the same period of 2022, and by 2.8% in seasonally adjusted data, data from the country's statistics board INS showed on Thursday (Sept 7).