The European Commission has given a positive assessment of Romania’s modified recovery and resilience plan, which includes a REPowerEU chapter.
Financial investment company Transilvania Investments Alliance (TRANSI, the former SIF Transilvania) has sold its ownership stake in Sphera Franchise Group (SFG.RO), which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, as well as the KFC units in Italy and the Republic of Moldova.
Smartphone sales in Romania will reach almost EUR1.5 billion at the end of 2023, an increase of some 8% on 2022, while the volume will continue to shrink, with the decline estimated at some 6% for the number of units. This is because more and more Romanian consumers are going for premium models, which come with a price tag of more than EUR600, as well as super premium, costing upwards of EUR1,000.
Anchor Grup, one of the most important real estate developers on the local market, announces new names in its retail portfolio, in both shopping centers it owns – Bucureşti Mall-Vitan and Plaza Romania.
The shareholders of the Bucharest Stock Exchange (BVB) have decided in their general meeting of Nov 22 to re-elect Radu Hanga as President of BVB for four more years.
The significant rise in banks’ revenue along with the rise in interest rates and continued lending helped Romania’s banking system make a record net profit of more than RON10 billion (EUR2 billion) in the first nine months of 2023, more than 40% higher than the nine-month profit in 2022 and as much as the entire profit of 2022.
Industrial bakery business Boromir expects to end 2023 with EUR160 million revenue. However, it seeks fast-paced growth in the future, to reach the EUR500 million revenue mark.