Romania Feed

Romania ended 2023 with gross domestic product (GDP) of RON1,605 billion (EUR321 billion), higher by 2.1% compared to 2022, in line with data reconfirmed on April 9, 2024 by the country's statistics board INS in its final statement regarding the evolution of the economy in 2023.

Romania's trade balance posted a deficit of EUR4.1 billion in January-February 2024, lower by 5.2% compared to the same period of 2023, data from the country's statistics board INS showed on Tuesday (April 9).

Altius, a veterinary medicine company controlled by Marius Diaconu, together with PetMart, a business operating on the segment of online wholesaler of pet products, have leased 5,400 square meters of logistic spaces and offices in ELI Park 4, a project part of the portfolio of ELI Parks, a major developer on Romania’s logistic real estate and industrial market.

Teilor Holding SA, a group of companies with bonds listed on the Bucharest Stock Exchange, which includes Teilor luxury jewelry chain, finance company Invest Intermed GF IFN and Teilor Invest Exchange, has expanded its portfolio with a luxury sustainable jewelry brand, DAAR, which uses lab grown diamonds, as well as recycled precious metals, so that to curtail environmental impact.

Awin Global, a company that manages a global martech platform, is expanding its office of Palas Iasi compound and is carrying out a recruitment campaign for various positions.

Filip & Company team assisted DIGI Spain Telecom S.L.U. in the deal sealed with Sota Investments Spain OpCo, S.L.U., a company controlled by a consortium made up of Macquarie Capital, abrdn and Arjun Infrastructure Partners, leading international infrastructure investors, for the sale by Digi Spain of a Fibre-to-the-Home (FTTH) network developed in 12 provinces across Spain.

OMV Petrom, Romania’s largest oil and gas producer, announced total hydrocarbon production in Q1/2024 reached 111,700 barrels of oil equivalent per day (boe/d), up 1.5% from Q4/2023, but down 4% from the same period of 2023.

Telecom solutions provider Centrul pentru Servicii de Radiocomunicatii SRL (CSR SRL), which is a partner for American multinational telecommunications company Motorola too, ended 2023 with a 67.3% increase in turnover, to RON151.7 million compared to RON90.7 million in 2022, as per data available on finance ministry website.

French sporting goods retailer Decathlon has appointed Romanian executive Olivia Mariescu to the position of Chief Financial Officer (CFO) of its operations in Central and Eastern Europe.

TehnoWorld, a Suceava-based company that manufactures polyethylene pipes, increased its revenue by 5% to RON434.4 million in 2023 compared with the previous year, latest data available on the Finance Ministry website show.

The five-star, 270-room Sheraton Hotel in Bucharest expects revenue to increase 10% to 15% in 2024 compared with 2023, when the results were close to the 2019 level, a reference year in tourism.

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, has started the April 8-12 week flat at 6.05% a year, the same as last week.

Ryanair, which operates from airports in Bucharest, Cluj and Iasi, expects a 15% increase in the number of passengers carried to and from Romanian airports this year. Last year, Ryanair carried 3.1 million passengers to and from Romania and this year it expects 3.6 million.

Romania’s only nuclear power producer Nuclearelectrica (SNN.RO) has announced in a stock market report on Monday (April 8) the appointment of Vasile Dascalu to the position of Chief Financial Officer (CFO), with a provisional mandate of five months, starting from April 9, 2024.

eMAG, one of the leading players on the online retail market in the region, is expanding its Genius delivery service to 300 new localities across 36 Romanian counties, company representatives said in a statement. .

Romania's Finance Ministry raised RON1.5 billion from banks on Monday (April 8, 2024), selling discount treasury bills (T-bills) due in March 2025, at an annual average yield of 6.02%.

Law firm Filip & Company is expanding its team of lawyers and promoting one counsel and three senior associates this spring.

NEPI Residential, the residential division of Central and Eastern Europe's largest owner, developer and property manager of shopping centers, NEPI Rockcastle, announces the successful completion of Vulcan Residence, its first residential project, which marks an important milestone in the group's portfolio consolidation.

The office sector in capital city Bucharest shows a positive fluctuation in terms of total leasing activity, after the first three months of 2024, being 71% higher than in the same period of 2023, according to data from real estate consulting firm CBRE.

Imaging clinic network Medima has opened a new clinic, in Deva (in the central-western part of Romania), following an investment of approximately EUR1.7 million.