Romania Feed

Airline Blue Air on Tuesday said Steven Greenway would be its new Chief Executive Officer (CEO) starting March 1, 2022.

Globalworth Industrial, the company that owns Oarja logistic platform, where the only presence had been that of Dacia logistic center, is bringing Caroli next to the biggest warehouse of the Mioveni carmaker.

Austrian group Raiffeisen Bank International reported net profit worth EUR173 million from Romanian operations in 2021, up 31.8% from the 2020 gain.

Pharma group Bioeel, owned by businessman Albert Attila, a founding member, and Jean Scheftsik de Szolnok, a French citizen, in 2021 generated turnover worth RON562 million (EUR114.2 million), 18% higher than in 2020.

Catalin Mahu, owner of restaurant chain La Mama, plans to open six restaurants this year to exclusively serve the delivery segment.

Luzan Logistic, a major player on Romania’s distribution market, last year went beyond the RON1 billion mark in terms of revenues, up 17% on the year.

River shipping company Transport Trade Services (TTS.RO), an entrepreneurial business listed on the Bucharest Stock Exchange announced its financial results for 2021 on Monday evening. Thus, the company had total consolidated revenues of RON598 million, an increase of 15%, and a net profit of RON66 million, 38% higher than in 2020.

International freight forwarding and logistics group International Alexander based in Arad expects 15% growth in revenue in 2021 and will continue investments in expansion, its officials say.

Scandinavian furniture and home products retailer JYSK is continuing its expansion in Romania by opening three new stores on Thursday (Feb 24) in the towns of Ploiesti and Resita and the Floresti commune near the city of Cluj-Napoca.

Romania’s life insurance market reported underwritings of RON2.6 billion at the end of 2021, up 17.6% from 2020, but, in terms of the weight held in the overall market, this segment seems to be going downwards, in line with preliminary data from the country’s financial supervisory authority (ASF).

Romania's finance ministry on Monday raised RON571 million (EUR115.4 million), close to the planned level, selling bonds maturing in 2029 at an average yield of 5.44%, central bank data showed.

Retail sales grew by 7.5% in Romania in 2021, above the European average of 3.3%, but below the 10.6% increase in Eastern Europe, in line with data from Retail Audit NielsenIQ.

Grup Şerban Holding (GSH.RO), a Romanian entrepreneurial company active in several fields in the agricultural sector, on Monday announced the signing of a significant contract with PepsiCo Romania regarding the development of a program for the delivery of potatoes for Lay’s chips produced in Romania.

Greenglass Recycling based in Popesti- Leordeni (Ilfov County) is investing EUR10 million in a new post-consumer waste glass recycling factory and in upgrades on existing installations, thus boosting its production capacity to 260,000 tons recycled per year.

Romania’s economic growth is expected to decelerate considerably in 2022 and 2023, after having reached very high dynamics from a historical perspective in 2021, yet significantly lower than previously forecast (in November 2021), the minutes of the monetary policy meeting of Romania’s central bank (BNR) say.

Romanian cybersecurity company SafeTech Innovations (SAFE.RO), listed on the AeRO market of the Bucharest Stock Exchange, ended 2021 with a turnover of nearly RON23 million, up 56% from 2020, and a net profit of RON6.1 million, up 99% on the year, in line with its preliminary financial report.

“A significant trend will be convergence and its adoption on a larger scale by users,” believes Florin Popa, Business to Business Director at Orange Romania, who sat down with Business Review to talk about the evolution and main trends of the technology and telecom sectors, two of Romania’s star sectors in 2022.   What will […]

Within the first subscription period, investors have injected over EUR 30 million into APS CREDIT FUND SICAV. The fund focuses on investments into so-called distressed debt transactions is expected to bring an average annual return of 12%. The APS Group has already identified investment opportunities totaling EUR 8 million for the fund and a substantial […]

Venture capital fund ROCA X on Monday a first round of investment in FilmChain, a fintech company dedicated to the film industry, with headquarters in London and New York, founded by Romanian entrepreneurs Maria Tânjală and Irina Albiţa.

Five new companies listed on the Bucharest Stock Exchange will be included in the FTSE Russell index series dedicated to Emerging Markets, namely, MedLife (M), Purcari Wineries (WINE), Conpet (COTE), IMPACT Developer & Contractor (IMP) and Sphera Franchise Group (SFG).