Romania Feed

Hotel company Aro-Palace (ARO.RO) said in a stock market report on Tuesday (June 27) that it was teaming up with ACCOR, a world-leading hospitality group, for the reopening of the Capitol Hotel in Brasov, as part of the Mercure global hotel chain.

Redport Capital has completed the second phase of The Level Apartments residential complex in Straulesti-Damaroaia area of Bucharest and is starting the third phase.

The initial public offering of electricity producer Hidroelectrica (H2O.RO) on the Bucharest Stock Exchange has almost been fully subscribed on the tranche of institutional investors since Friday, and it is already oversubscribed now, while interest remains really high, capital market sources told Ziarul Financiar.

French Orange Group, one of the world's largest players on the telecommunications market, granted financing of EUR800,000 for the opening in Romania of a digital education hub for several socio-professional categories - from teenagers passionate about technology and young people at the beginning of their professional career to adults who want a professional conversion with the help of digital skills.

Private equity firm SARMIS Capital has bought into BMF Grup, a family business established in 2023, which now has 1,800 employees and EUR30 million consolidated revenue.

Romania's road freight transport market saw a slowdown in growth rate between January and June 2023 compared to the same period of 2022, against the background of a decline in volumes, which also triggered a stagnation in transport tariffs, as per an analysis by DSV Road, the third largest transport company in Europe.

Belgian company Avesta Battery and Energy Engineering (ABEE) plans to build a factory for electric vehicle batteries in the Galati Free Zone, within an investment of EUR1.4 billion, according to officials of Galati City Hall (eastern Romania).

Lithuania's Apex Alliance group, which manages the Marmorosch Hotel in capital city Bucharest, has appointed Italian Giovanni Valentini to the position of Chief Executive Officer (CEO) of the Apex Alliance Hotel Management (AAHM)

Nuclear power producer Nuclearelectrica (SNN.RO) and Korea Hydro & Nuclear Power (KHNP) signed today, June 27, 2023, in Seoul, Republic of Korea, the Engineering, Procurement and Construction (EPC) contract for the completion of Europe’s first Tritium Removal Facility (CTRF) at Cernavoda Nuclear Power Plant (Cernavoda NPP), Nuclearelectrica announced in a press release on its website.

​Perla Harghitei, one of the largest producers of natural mineral water in Romania and market leader in the category of bottled water in returnable glass bottles, aims to increase its turnover by 18% in 2023, up to RON148.5 million, and to strengthen its position among industry players.

Approximately four years since the expiry of the deadline for transposing Directive 1371/2017 on combating fraud affecting the financial interests of the European Union and over a year since the European Commission initiated action against Romania for incomplete transposition of the Directive, Romania's Parliament adopted Law 125/2023 amending Law No. 241/2005 on preventing and combating tax evasion, which entered into force on May 25, 2023.

A survey by real estate consulting firm CBRE shows there is great demand for high-quality office spaces on the local market, which will keep the demand for development or refurbishment projects at a high level.

Growth in bank lending across the eurozone is forecast to slow from a 14-year peak in 2022 (of 5%) and record modest gains of 2.1% in 2023 and 1.7% in 2024, as demand for loans across the region drops, according to the latest EY European Bank Lending Economic Forecast.

CreditAmanet holding, a Romanian-held provider of pawnbroking and money exchange services, has relocated its offices to SkyTower office building near Bucharest’s Promenada mall, in the wake of a EUR0.5 million investment.

PC Garage, the company managing one of the largest online computer and electronics stores in Romania, part of eMAG group, for 2022 reported net turnover of RON319 million (EUR64.8 million), slightly down from 2021.

Restaurant and club group Fratelli, launched on the market 18 years ago, has for 2023 budgeted RON85 million turnover, up 8% on the year, and RON10 million profit.

Cosmetics retailer Douglas will open three new stores by yearend, cementing its footprint in some cities it is already active in, such as Arad and Craiova, but also launch in a new city, Alba Iulia.

Farmec Cluj, Romania’s biggest cosmetics maker, has budgeted RON13 million investments for 2023, mainly aimed at production, but also at own retail.

Netherland’s Versuni group, the former Philips Domestic Appliances, will invest RON75 million this year to develop the plant of Orastie, Hunedoara, where the company mainly produces coffee machines.

The second day of the initial public offering of the electricity producer Hidroelectrica (H2O.RO) on the Bucharest Stock Exchange ended with higher subscriptions from retail investors than in the first day of the offering, June 23, Ziarul Financiar has found.