Romania Feed

Romanian natural gas producer and supplier Romgaz (SNG.RO) on Tuesday (August 1) announced its shareholders in a stock market report that it placed with Romania’s import-export bank Eximbank a term deposit without auto-renewal option in the total amount of RON44 million, with the interest rate negotiated on July 31, 2023.

Germany's Allianz Group is switching to an integrated approach of its corporate operations in Central and Eastern Europe (CEE), including Romania, under the ”Allianz Commercial” concept, in order to better cover the corporate insurance segment.

The number of Romanians who manage to save a reasonable amount of money (between 20% and 50% of their income) each month has increased by 35% in 2023 vs. 2022, to around 30% of the population, yet half of Romanians manage to put aside only a small amount of money, the same as the previous year.

Romanians are willing to invest an average monthly budget of RON190 in sports activities and the main cities with high demand for fitness services are Bucharest, Cluj, Brasov, Craiova, and Iasi, as per a survey by SanoPass, a provider of fitness subscriptions.

Romania's foreign exchange reserves stood at EUR53.9 billion in July 2023, higher by EUR519 million versus June 2023, central bank data showed on Tuesday (August 1).

Industrial space and logistics developer WDP bought, in the first half of 2023, a warehouse in Mioveni under a sale-and-lease-back contract through which the seller remained tenant in the space that made the object of the transaction

tbi bank, one of the most dynamic banks in Southeast Europe, is expanding its partnership with electronics retailer Flanco, which started in 2018, by integrating a Buy Now Pay Later payment solution in offline stores.

Individuals searching for new jobs registered some 650,000 applications on the Bestjobs recruitment platform in July 2023, which is 30% more than in June 2023 and 20% more than in July 2022.

Romania’s unemployment rate stood at 5.4% in June 2023, lower by 0.1 percentage points than 5.5% in May 2023, data from the country’s statistics institute INS shows on Tuesday (August 1).

Online retailer eMAG is launching the first shop-in-shop destined to dermocosmetics, which will bring together more than 3,000 items listed on the platform, from international and local companies active in the cosmetics and beauty industry.

Farmacia Tei and Bebe Tei, two of the most powerful brands on Romania’s pharma market, are undergoing a rebranding process and changing their visual identity under the umbrella of Grupul Tei, which includes the two identities.

Deutsche Bahn (DB) Cargo Romania, the rail freight transportation unit of German giant Deutsche Bahn, ended 2022 with RON356 million turnover, up from the RON273 million level of 2021.

Raiffeisen Bank Romania ended the first half of 2023 with RON874 million profit, against RON602 million in the year-earlier period, while banking assets topped RON66 billion, up 10%.

Czech group Packeta, operating the delivery platform of the same name, will continue expansion and development plans on the Romanian market after having chosen to strengthen and watch economy and business evolution in the first half of the year, explained Alexandr Jeleascov, CEO of Packeta Romania.

Arad-based builder PAB Romania, particularly known for having built tens of stores for DIY retailer Dedeman, boasted record high turnover in 2022, hitting the RON461 million threshold, more than double the 2021 level.

Car parts wholesaler Unix Auto of Cluj-Napoca, controlled by entrepreneur Zombori Antal, for 2022 reported turnover of RON359.1 million (EUR72.8 million), up 11.3% from the previous year, in line with ZF calculations based on Finance Ministry data.

The three largest mutual fund managers in Romania had RON11.2 billion worth of net assets under management at the end of June 2023, accounting for over 60% of the total net assets managed by the top ten mutual fund managers, up 14.1% in the first half of 2023, but down 28.2% in the last year ended on June 30, 2023.

Michelin Romania, part of the French Michelin Group, one of the world's largest tire manufacturers, ended 2022 with a turnover of RON5.178 billion (over EUR1 billion), up 23% from RON4.213 billion (EUR856.3 million) in 2021, as per finance ministry data.

Sphera Franchise Group (SFG.RO), which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, and for the KFC restaurants in the Republic of Moldova and Italy, has convened its shareholders on August 24, 2023 to put to a vote the approval of the Board of Directors' proposal to distribute dividends in the amount of RON45 million from the undistributed net profit of financial years 2020-2022.

Grup Serban Holding, a Romanian entrepreneurial company operating in the agribusiness sector, announced in a stock market report on Monday (July 31) that two entities that are part of Grup Serban Holding concluded two credit facility agreements with BRD Soc Gen for investments and for financing the activity in the vegetable sector.