Romania Feed

Startup Nooka Space, which created a platform that connects companies and their employees to a network of offices, has announced the appointment of Irina Leca as Chief Executive Officer of the company.

Do-it-yourself (DIY) retailer Dedeman, the most powerful Romanian entrepreneurial business, is opening its second store in the town of Craiova, on Thursday (October 5), reaching 60 units in Romania.

TBI Bank, with operations in Romania, Bulgaria, Germany, Greece and Lithuania, reported revenue of EUR95 million for the first half of 2023, up 28% on the year, and a net profit of EUR18.4 million.

Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) inched up 0.6% in unadjusted data and grew 1.1% when adjusted for seasonality and number of working days, in August 2023 compared to August 2022, data from the country’s statistics institute INS showed on Wednesday (October 4).

German-held builder Geiger expects 20-25% higher turnover this year at the level of Romania operations, after having reported EUR70 million revenues in 2022, up 31% year-on-year.

Accor, a leading hotel group in Europe, is expanding and entering with its first hotel on the market of Cluj, where an ibis Styles-brand hotel will be opened in the second quarter of 2025.

Private hospital Sanconfind of Campina, with a 90-bed capacity, wants to add new medical specialties to the 20 already existing ones.

Drug store chain Tei, one of the most dynamic on Romania’s market, founded by entrepreneur Roxana Maftei, continues to expand outside Bucharest and has opened a new store together with Bebe Tei in Pitesti, according to the company’s officials.

Car parts manufacturer Joysonquin Automotive Systems Romania, the local subsidiary of Chinese concern Joyson, for 2022 reported turnover worth RON584.4 million (EUR118.5 million), up 2.3% on the year, in line with ZF calculations based on Finance Ministry data.

Vitesco Technologies, a leading company in the field of modern powertrain technologies and electrification solutions and a spin-off of the Continental Group and former Continental Powertrain, has opened a new qualification and validation lab in business center Vox Technology Park of Timisoara, in the wake of EUR13.1 million investments.

Romanian brand 5 to go has advanced to the ninth place in the European top of coffee shops for 2022, according to the annual ranking recently published by Food Service, Europe & Middle East.

Airline Wizz Air has announced that it will bring two more aircrafts at its base in Bucharest, which is one of its largest bases.

Hidroelectrica (H2O.RO), the largest company at the Bucharest Stock Exchange and the most profitable state-run firm, said in a stock market report that Petre Iulian Nicolescu was appointed Chairman of the Supervisory Board on October 2.

Softone Group, present on the local market through its subsidiary SoftOne Romania, announces a strategic investment in Global Sustain, the main company specialized in consulting services and ESG (Environmental, Social and Governance) solutions on the Greek market, with a view to setting up a new company for the design of the ESG platforms.

Veolia Romania Integrated Solutions, a member company of Veolia Romania and a provider of water, sewage, and thermal energy system operation, maintenance, and management services, has concluded a partnership with Holde Agri Invest, an entrepreneurial company engaged in agricultural land exploitation.

The Bucharest Stock Exchange (BVB) is investing in students' future through the modernization project of Amphitheater 2101 within the Bucharest University of Economic Studies (ASE).

The net flow of foreign direct investment (FDI) in the financial intermediation and insurance sector saw a 47.4% decline due mostly to removing restrictions on dividend payouts, which was imposed by Romania's central bank at the onset of the COVID-19 pandemic, in order to ensure the capital resources essential in dealing with the impact of the pandemic on the balance sheets of credit institutions, as per central bank data.

Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, and the Technical University of Cluj-Napoca (UTCN), through the Energy Transition Research Center (EnTREC), have concluded a new active partnership, within an international research-innovation project.

Total assets of insurance companies in Romania stood at RON26.3 billion at the end of the first quarter of 2023, up 2.5% on the year, while debts stagnated at RON19.4 billion, up just 0.1% on the year, as per data from the country's Financial Supervisory Authority (ASF) in its report on the evolution of the insurance market in Q1/2023.

Electrica Furnizare has announced the signing of a partnership with the Romanian fintech Finqware for accessing the services offered by the FinqTreasury platform, which is based on open banking technology.