Romania Feed

Individuals searching for new jobs registered some 650,000 applications on the Bestjobs recruitment platform in July 2023, which is 30% more than in June 2023 and 20% more than in July 2022.

Romania’s unemployment rate stood at 5.4% in June 2023, lower by 0.1 percentage points than 5.5% in May 2023, data from the country’s statistics institute INS shows on Tuesday (August 1).

Online retailer eMAG is launching the first shop-in-shop destined to dermocosmetics, which will bring together more than 3,000 items listed on the platform, from international and local companies active in the cosmetics and beauty industry.

Farmacia Tei and Bebe Tei, two of the most powerful brands on Romania’s pharma market, are undergoing a rebranding process and changing their visual identity under the umbrella of Grupul Tei, which includes the two identities.

Deutsche Bahn (DB) Cargo Romania, the rail freight transportation unit of German giant Deutsche Bahn, ended 2022 with RON356 million turnover, up from the RON273 million level of 2021.

Raiffeisen Bank Romania ended the first half of 2023 with RON874 million profit, against RON602 million in the year-earlier period, while banking assets topped RON66 billion, up 10%.

Czech group Packeta, operating the delivery platform of the same name, will continue expansion and development plans on the Romanian market after having chosen to strengthen and watch economy and business evolution in the first half of the year, explained Alexandr Jeleascov, CEO of Packeta Romania.

Arad-based builder PAB Romania, particularly known for having built tens of stores for DIY retailer Dedeman, boasted record high turnover in 2022, hitting the RON461 million threshold, more than double the 2021 level.

Car parts wholesaler Unix Auto of Cluj-Napoca, controlled by entrepreneur Zombori Antal, for 2022 reported turnover of RON359.1 million (EUR72.8 million), up 11.3% from the previous year, in line with ZF calculations based on Finance Ministry data.

The three largest mutual fund managers in Romania had RON11.2 billion worth of net assets under management at the end of June 2023, accounting for over 60% of the total net assets managed by the top ten mutual fund managers, up 14.1% in the first half of 2023, but down 28.2% in the last year ended on June 30, 2023.

Michelin Romania, part of the French Michelin Group, one of the world's largest tire manufacturers, ended 2022 with a turnover of RON5.178 billion (over EUR1 billion), up 23% from RON4.213 billion (EUR856.3 million) in 2021, as per finance ministry data.

Sphera Franchise Group (SFG.RO), which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, and for the KFC restaurants in the Republic of Moldova and Italy, has convened its shareholders on August 24, 2023 to put to a vote the approval of the Board of Directors' proposal to distribute dividends in the amount of RON45 million from the undistributed net profit of financial years 2020-2022.

Grup Serban Holding, a Romanian entrepreneurial company operating in the agribusiness sector, announced in a stock market report on Monday (July 31) that two entities that are part of Grup Serban Holding concluded two credit facility agreements with BRD Soc Gen for investments and for financing the activity in the vegetable sector.

Romanian lighting equipment wholesaler Elbi Electric & Lighting, held by businessman Cristinel Sandu, ended 2022 with a turnover of RON348.8 million (EUR70.7 million), up 15.8% on the year, in line with calculations by Ziarul Financiar (ZF) based on finance ministry data.

NN Pensii, the manager of the largest private pension fund operating on the mandatory segment in Romania (Pillar II), in June 2023 liquidated the investment it had held in the company Prosus (PRX.AS) since fall 2020, on the Amsterdam Stock Exchange, as per NN data analyzed by Ziarul Financiar (ZF) daily.

Representatives of the Foreign Investors Council (FIC), an association that brings together the leading foreign-held investors in Romania, support the strategic, medium- and long-term approach to key areas, as is the case with the tax regime, which must be analyzed from the perspective of the results recorded at the level of collection and contribution to the state budget, but also in terms of economic development.

The transaction whereby alcoholic beverages producer Zarea, controlled by Polish Ambra Group, is acquiring a majority stake of 70% in wine maker Domeniile Dealu Mare Urlati (DDMU), has been completed and the seller is the Radulescu Family.

SAP Romania, the local subsidiary of Germany's business software solutions producer of the same name, announces the launch of SAP Labs Site in capital city Bucharest, a digital innovation hub aimed at contributing to the expansion of SAP’s product and services portfolio and at fostering local digital talent and boosting ecosystem and community engagement, company representatives said in a statement.

Enel Green Power Romania, Enel Group’s renewable energy business line in Romania, has commissioned the Lumina solar photovoltaic (PV) park in Calugareni (Giurgiu County), and completed its takeover from the company MYTILINEOS.

MedLife, the leader of the private medical services market in Romania and the medical provider with the greatest know-how in M&A, has announced in a stock market report the acquisition of the entire stake in Policlinica Sfantul Ilie in Craiova, as well as the majority stake of 51% in Union Medical Clinic in Cluj.