Romania Feed

US giant Oracle has acquired Romanian online food ordering start-up Gloria Food, funded in 2013 by German entrepreneur Oliver Auerbach and Romanian entrepreneur Mihai Anghel.

Lender Raiffeisen Bank's second green bond issue, worth over RON1.2 billion, starts trading Friday on the Bucharest stock exchange under the ticker symbol RBRO28.

More than 14,000 new vehicles were registered in Romania in June, an increase of 18% on year-ago period, Romania’s General Directorate for Driving Licenses and Car Registration (DRPCIV) data show.

Swiss-held Novartis, one of the largest international pharmaceutical groups, which also has a plant in Romania, Sandoz Targu-Mures, has chosen this country to boost production capacity and create a testing center for drugs that will then be sold throughout Europe.

Mortar, paint and base coat manufacturer Baumit, held by Austria’s Schmid Industrie Holding, saw its revenue increase 12% to RON335 million in 2020, Finance Ministry data show. The profit stood at RON21.4 million, 35% higher than in the previous year, and the number of employees rose to 264.

Shareholders of chemical producer Chimcomplex Borzesti (CHOB.RO), which owns the Oltchim and Borzesti platforms, on Thursday approved the admission of shares to trading on the main regulated market managed by the Bucharest Stock Exchange, at the standard tier, through transfer from the alternative trading system AeRO, per a stock market report.

BCR Social Finance and the European Investment Fund (EIF) have agreed to provide financing of RON75 million to small- and medium-sized enterprises (SMEs), non-governmental organizations (NGOs) and people engrossed in education and development of professional competencies, per information from Banca Comerciala Romana (BCR).

Retailer Profi, held by buyout investor Mid Europa Partners, has opened 80 new stores since the beginning of 2021, reaching 1,476 units across Romania.

In May 2021, the euro area seasonally-adjusted unemployment rate stood at 7.9%, up from 7.5% in May 2020. At the same time, the EU unemployment rate was 7.3% in May 2021, up from 6.9% in May 2020, according to data from Eurostat, the statistical office of the European Union.

Romania's finance ministry on Thursday raised RON2.2 billion (EUR0.44 billion) selling bonds maturing in August 2021 and November 2024, at average yields of 1.42% and 2.49%, respectively.

Real Estate developer One United Properties, one of the leading players on the Romanian real estate market, has concluded a pre-contract for the acquisition of a plot of land of 25,350 square meters, located on Soseaua Fabrica de Glucoza in Bucharest, and a part of the access road, within a transaction worth a total EUR20.64 million.

Romania's foreign exchange reserves declined to EUR36.831 billion at the end of June from EUR37.570 billion at the end of May, central bank data showed Thursday.

Erste Group, the majority shareholder of Romanian lender BCR, said Thursday it was merging its IT companies to create Erste Digital, one of the largest IT services companies in Austria and the Central and Eastern European region.

Rompetrol Rafinare (RRC.RO), part of KMG International and 44.7% owned by the Romanian state, seeks to reduce its share capital by as much as RON3 billion from the current share capital of RON4.4 billion to balance its book value to its nominal value.

MaxBet Romania, the leading gambling operator on the Romanian market with annual sales of over EUR100 million, has been acquired by private equity firm Novalpina Capital.

Romania manufactured 191,658 vehicles in the first five months of 2021, up 25% on the year, data from the country's carmakers association ACAROM showed Thursday.

Shares of Simtel Team (SMTL.RO), a Romanian engineering and technology company, started trading Thursday on the AeRO market of the Bucharest Stock Exchange.

Special steel producer COS Targoviste (COS.RO) has entered bankruptcy after the local court overruled its reorganization plan proposed by creditor Alphard Financial.

DP World, one of the leading port terminal operators in the world, plans to invest more than EUR50 million in Romania over the next two years, said Cosmin Carstea, CEO of DP World Constanta & DP World Logistics Romania, part of the DP World group.

Romania's seasonally adjusted unemployment rate inched down to 5.5% in May from 5.7% in April, data from the country's statistics board showed Thursday.