Romania Feed

New registrations of road vehicles for passenger transport in Romania decreased by 2.8% in the second quarter of 2023 compared to the second quarter of 2022, data from the country’s statistics institute INS showed on Friday (August 5).

Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) increased by 1.5% in unadjusted data and by 2% when adjusted for seasonality and number of working days, in June 2023 compared to June 2022, data from the country’s statistics institute INS showed on Thursday (August 4).

Almost half of the artificial intelligence (AI)-based startups that want to attract funding in the next two years target amounts of over EUR1 million, according to the second edition of “RO AI MAP 2022/2023” report conducted by Techcelerator and Google for Startups to promote AI startups in Romania and South-Eastern Europe.

Dutch group Damen Shipyards, which in mid-2018 entered the shareholding structure of Damen Mangalia shipyard, is calling for the termination of the legal contract related to the functioning of the joint venture between Damen Holding BV and the Romanian state regarding Mangalia shipyard.

Private healthcare operator MedLife has informed the local capital market with regard to the decision of the company’s Extraordinary General Shareholders Meeting of August 3 in line with which the company will carry out a share capital increase of RON99.65 million.

The Bucharest Stock Exchange (BVB), the operator of the Romanian capital market, registered consolidated operating revenues worth RON25.71 million in the first half of this year, down 16% from the RON30.4 million level of 1H/2022, amid the evolution of trading revenues.

Doicesti-Sotanga photovoltaic park, with a 80 MW installed power, has become operational. The investment is part of Doicesti energy project that will include the first SMR in Europe, the second one in the world after the US, developed by US-held NuScale.

UiPath, the first Romanian IT company listed on Wall Street, has cemented its position as the biggest tech company on the local market by turnover after raking in a RON2.27 billion result in 2022, up 86% from 2021.

Belgian-held corrugated fiberboard maker VPK Packaging, with a plant in Bihor, plans to invest RON3.3 million this year. It has a five-year investment plan underway.

Romanian startup YLOAD, which developed an artificial intelligence (AI)-based platform for the digitalization of transport operations, has entered into a joint venture partnership with Swiss Fracht Group, an international freight forwarder with operations in 70 countries and over 140 offices worldwide.

Romanian natural gas producer and supplier Romgaz (SNG.RO) announced in a stock market report that the National Agency for Mineral Resources has confirmed the development plan of the Domino and Pelican South natural gas commercial fields.

OMV Petrom (SNP.RO), Romania’s sole oil and gas producer and the operator of the Neptun Deep project, announced in a stock market report Thursday evening the signing of a EUR1.6 billion contract with Italy's Saipem and Saipem Romania SRL for the development of the Neptun Deep project in the Black Sea.

Cement producer Romcim, held by Ireland's CRH Group, has acquired the company Bauelemente, a producer of precast-prestressed concrete structures, enclosures- facades and roofing, from businessman Michael Dietrich, according to an announcement posted on Romcim website.

Exim Banca Romaneasca launched a new guarantee product in the name and on behalf of the Romanian state that facilitates access to finance for companies implementing investment projects in the field of renewable energy (wind, solar and geothermal energy, hydroelectric energy, biomass etc.).

The new fiscal measures, the amplest of at least the last decade, must be correlated with Romania’s objectives of attracting capital and strengthening it as a strategic investment destination, but also with the legislation already applicable in the field, the American Chamber of Commerce in Romania (AmCham Romania) said in a statement in the context of public debates on fiscal consolidation measures.

Romania's Finance Ministry raised RON438 million from banks on Thursday (August 3), selling government paper in two auctions, at annual average yields of 6.64% and 6.74%.

Law firm Filip & Company is assisting Alesonor, a company with over 20 years of experience in developing sustainable communities in Romania, with concluding a partnership with Verita International School & Kindergarten for the development of the second Verita campus in Romania, in the Amber Forest suburbia located in the Tunari area in northern Bucharest.

Salary benefits and the work environment are both the main motivational factors influencing the intention to change jobs, with six in ten Romanians feeling the urge to look for a new job due to a hostile work environment, which is more than those who would change jobs for better salaries elsewhere (55%), as per a survey launched by MSL The Practice, a PR agency part of Publicis Groupe Romania, and the recruitment platform eJobs Romania.

The company Miller Centre SRL has filed a petition with the Bucharest Court requiring the insolvency of online retailer Elefant.ro, with bonds listed at the Bucharest Stock Exchange, the retailer has informed investors in a stock market report on Thursday (August 3).

Electromontaj Group has won a contract with the Finnish national electricity transmission operator, Fingrid, for the construction of a new high-voltage line on the territory of Finland.