Romania Feed

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.

Romania's state-run natural gas transmission company Transgaz (TGN.RO) has officially taken over on Tuesday (Sept 19) the operation, maintenance, gas transmission and dispatching activities in the Republic of Moldova, through its subsidiary Vestmoldtransgaz SRL (VMTG).

Agroland Agribusiness, a Romanian entrepreneurial company part of Agroland group, specialized in the sale of farming inputs, registered operating revenues of RON28.6 million in the first half of 2023, up 11% from the year-earlier period.

HCLTech, a provider of consulting and IT services, saw turnover go up by over 98% at the end of 2022, to over EUR35.8 million (RON177.9 million).

Stripe, an Irish-American fintech valued at $50 million that has globally developed an infrastructure allowing companies to accept payments by card but also via different local platforms, has opened an IT center in Bucharest, where it plans to recruit several tens of specialists in 2023 alone.

Romanian shipbuilder Santierul Naval Severnav (SEVE.RO) based in Drobeta Turnu-Severin has notified shareholders in a stock market report on Sept 18 that it signed a EUR2.82 million commercial contract with Rensen Driessen Shipbuilding, a Dutch-held shipbuilder.

IT group Bittnet (BNET.RO), an integrator of IT&C solutions and a provider of training services in the IT sector, has informed investors in a stock market report about the signing of a significant contract by Data Consulting, a company part of Bittnet Group.

SANADOR, one of the largest players on the Romanian private medical services market, has opened a Center of Excellence in Diagnostic And Therapeutic Digestive Endoscopy, on Monday (Sept 18).

Investment group Evergent Investments, made up of the company Evergent Investments (EVER.RO) and nine branches, reported a consolidated net profit of RON44 million for the first half of 2023, as per a press statement.