Romania Feed

Romania's central bank on Wednesday decided to hold the benchmark interest rate at a record low of 1.25% a year, despite rising inflation.

A survey by the American Chamber of Commerce in Romania (AmCham Romania) shows that three quarter of US investors in Romania expect increases in revenue in 2021.

Raiffeisen Bank and the European Bank for Reconstruction and Development (EBRD) will extend a syndicated loan totaling EUR37.55 million to Romanian retailer eMag, under an agreement signed Tuesday in Bucharest.

Bit Soft, a company developing and distributing integrated end-to-end solutions for the hospitality industry, has raised EUR1.5 million through a private placement of bonds, maturing in 2025 and bearing an interest rate of 5.5%.

CITR, the leading insolvency practitioner in Romania, part of Impetum Group, was appointed by the Bucharest Court as judicial administrator of Compania Municipala Consolidari, upon a request by creditors to open insolvency proceedings.

Codrut Nicolau has taken over as the new country manager of Edenred Romania, which issues benefit vouchers for employees, starting July 2021.

Economy Minister Claudiu Nasui said in a Facebook post that salt company Salrom, the only salt producer in the country, which is 51% owned by the Romanian State and 49% held by property restitution fund Fondul Proprietatea 49%, would be listed on the Bucharest Stock Exchange in orderf to fund its investments easier.

Builder Arcada Company almost tripled profit from the RON41.1 million of 2019 to RON110.6 milion in 2020, Finance Ministry data show.

The COVID-19 crisis was less severe than bankers feared, and the current scenario is even better than their most optimistic expectations.

A 0.16% stake in lender Banca Transilvania (TLV.RO) changed hands on the stock market Tuesday for RON24.4 million.

The media market in Romania shrank 3.8% in 2020, to EUR462 million, due to the coronavirus pandemic, but, the second half of 2020 and the beginning of 2021 show a strong comeback, with the market being expected to exceed half a billion euros (EUR514 million) in 2021, 11% higher than in 2020 and 7% higher than in 2019, per the Media Fact Book annual report by media agency Initiative Romania.

CEZ Romania, one of the largest players in the field of electricity supply and distribution, said it was planning to access European Union funds, through all programs available, in the amount of EUR500 million, adding it already submitted the list of projects to the energy ministry.

Superbet, the largest sporting bets operator in Romania, with over 1,000 agencies across the country, has opened a new location within the City Gate project in Bucharest in a transaction assisted by real estate consulting company Cushman & Wakefield Echinox.

Deloitte Romania is expanding its management team by promoting Claudiu Ghiurluc as Partner in auditing and assurance operations.

Brokerage company TradeVille has reached some 20,000 clients that carry out transactions on the platform, both the instruments listed on the Bucharest Stock Exchange and on the large global stock exchanges.

Deloitte Romania announces the appointment of Claudiu Ghiurluc, a senior professional with outstanding contributions in serving clients and developing teams, in the role of partner within the audit and assurance practice.

Armchair and sofa manufacturer Italsofa Romania, subsidiary of Italy’s Natuzzi group, made 98% of its revenue from exports last year.

Grocery retail chain Mega Image ended last year with RON7.2 billion sales, an increase of almost 9% on 2019, driven by both offline expansion by almost 90 stores and the growth of the online operations.

Unicarm, the largest entrepreneurial company in Satu Mare and one of the largest actors on the meat market in Romania, plans to open at least 10 to 15 stores this year and increase number of employees to more than 3,500.

E.ON Energie Romania has installed about 100 public and private charging stations for electric cars as part of the E.ON Drive project and plans to expand its network to 300 stations in the next two to three years, said Claudia Griech, who became E.ON Energie Romania CEO at the beginning of May.