The net assets of the 233 domestic and foreign open-end and closed-end investment funds operating in Romania grew by 3.2% in September 2021, to RON52.9 billion (EUR10.7 billion), and by 19% since the beginning of 2021, the Association of Fund Administrators said Tuesday.
TeraPlast Group on Tuesday reported a net profit of RON43.3 million for January-September 2021, up 41% on the year, a performance that reflects both the volume increases and the efficiency of the activity.
Grup Serban Holding, a Romanian entrepreneurial company founded by Nicolae Serban, active in several fields in the agricultural sector, seeks to list on the AeRO market of the Bucharest Stock Exchange until the end of 2021 and to raise RON25 million through a private placement of shares in order to speed up expansion plans.
Telecom operator Orange Romania on Tuesday reported a turnover of EUR273 million for the third quarter of 2021, similar with the level recorded in the same period in 2020, and a slight increase in customer numbers (+1.75) up to 10.79 million, per financial data provided by French Orange Group.
Bucur Obor (BUCU.RO), the company that owns the Bucur Obor shopping center in capital Bucharest, on Tuesday said it ended the first nine months of 2021 with a turnover of RON25 million, up 9.82% on the year, and a net profit of RON8 million, up 13% on the year, per a stock market report.
Romanian real estate developer Impact Developer&Contractor has contracted a loan of EUR4 million from lender Libra Bank in order to refinance investments.
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, continued its upward trend on Tuesday (Oct 26) and grew to 2.33% a year, per central bank data.
Financial analysts expect the Romanian leu will depreciate to 5.0547 units to the euro in the next 12 months, while the annual inflation rate is seen at 5.01% during the same period, a monthly poll by CFA Romania showed Tuesday.
Romania's general consolidated budget posted a deficit of RON44.29 billion in January-September 2021, or 3.77% of the gross domestic product, lower than RON67.27 billion, or 6.37% of GDP, in the first nine months of 2020, finance ministry data showed Tuesday.
Royal Hospital in 2020 generated turnover worth RON15.7 million, 23% higher than in the previous year. The hospital has 3,600 square meters and 50 beds.
The soaring building materials costs are being strongly felt in the agribusiness field as well, for investors have construction projects underway and are even likely to delay project completion, considers Calin Musca, owner of Porkprod, which is investing EUR10 million in an integrated production line.
Amid rising inflationary pressures, largely generated by the deepest energy crisis of recent years, but also by investors’ expectations that both Romania’s central bank and other central banks will start a more aggressive interest rate hike cycle, mutual funds have just witnessed the first withdrawals since August 2020.
Continental Hotels chain, one of the largest in Romania, with almost 2,000 rooms, has operated at a 49% average occupancy rate so far, compared with 72% in 2019, its best year ever, the chain’s officials say.
Real estate developer Hagag Development Europe was successfully listed on the Tel Aviv Stock Exchange, following an initial public offering for 25% of its shares, through which the developer attracted funds of approximately 28 million euros. The company’s anticipated capitalization reached a value of over EUR 112 million after the raise. During the active […]
Nagarro, a global leader in digital engineering and technology solutions, announced the appointment of Andrei Doibani as Managing Director for Eastern Europe. He will be responsible for developing and implementing the company’s strategy in Service Region Eastern Europe, including Romania and Poland. Nagarro continues to strengthen its position in this region, and medium-term development plans […]
Romanian employees who had to work more from home in the last 18 months due to the COVID-19 pandemic want to return to the office, given that more than half of them associate coming back to the office with “the return to normality” and experience a lack of socializing with their colleagues, according to the […]
Romania could recover over 60% of the GDP (gross domestic product) loss caused by the COVID-19 pandemic and could generate approximately 1000 jobs per one million inhabitants, through investment projects in renewable energy, said Mihai Draghici, Director, Business Consulting at EY Romania.
Dateio, a fintech company founded in 2013 in Prague, developed a card-linked marketing white-label platform offering bank customers deals directly in their mobile banking app. They’ve now recently launched their platform in cooperation with UniCredit Bank Romania. The ShopSmart program is available directly in UniCredit Bank’s SmartBanking mobile application, offering their clients rewards in the […]
Romania’s Competition Council has approved a transaction whereby Austria’s ALPLA Group, a world leader in the development, production and recycling of plastic packaging, acquires Wolf Plastics Verpackungen based in Austria and, indirectly, Wolf Plastics Ambalaje in Romania.