Romania Feed

Romania lending institutions in the first quarter of 2023 tightened lending standards for all loan categories amid expectations about the overall economic situation, monetary or macroprudential policy decisions and the current or expected situation of bank capital, reveals Romania central bank’s quarterly survey.

Tesla Motors Romania, the company Tesla uses to sell cars in Romania, posted almost RON267 million (EUR53 million) sales in 2022, Finance Ministry data show. Last year was Tesla’s first full year in business in Romania.

SoftOne Romania, the local subsidiary of Greek software solution provider of the same name, has acquired the company QBS Retail & Logistics based in Brasov (central Romania).

US-held paint producer PPG Romania posted RON357 million revenue in 2022, following a 17% increase in sales, while profit went up, as well, to more than RON50 million and the average number of employees remained at about 385, the latest data on the Finance Ministry website show.

Romania's Finance Ministry raised RON2.6 billion from banks on Thursday (June 8), selling government paper maturing in 2038, at an annual average yield of 7.04%.

UniCredit Bank has participated, alongside other banks in Romania, to the granting of a syndicated loan worth a total EUR250 million to RCS-RDS Group.

Gebrüder Weiss Romania, one of the leading players on the local transport and logistics solutions market, has started the construction of a new logistics hub in Popesti Leordeni, in the south-eastern part of Bucharest, and the investment reaches EUR20 million.

PwC Romania has promoted Ana Maria Iordache to the role of Partner in the Tax and Legal Advisory practice, starting July 1, 2023.

IKEA Romania, one of the largest furniture and home décor retailers, part of Swedish IKEA Group, has opened on Thursday (June 8) its third store in Romania, in the locality of Dumbravita, near Timisoara (western Romania).

SII Romania, a company specializing in IT services and solutions, ended the 2022 – 2023 fiscal year with a turnover of EUR33 million, up nearly 68% versus the previous fiscal year, according to company representatives.

tbi bank has concluded a partnership with payment processor EuPlatesc.ro, which works with almost 2,000 merchants, in order to offer consumers the possibility of paying their purchases in installments.

The latest survey carried out by eJobs Romania shows that 86% of employees felt at least once during their professional career that their rights were violated by employers.

Romania’s gross domestic product grew by 2.3% in real terms (in unadjusted data) in the first quarter of 2023 as compared to the first quarter of 2022, due primarily to commerce, IT&C, constructions and net taxes, while the industry had a negative contribution to the GDP evolution, provisional (1) estimates from the country's statistics board INS showed on Thursday (June 8).

Romania’s real estate investment market ended the first quarter of 2023 with deals worth EUR120 million, accounting for almost 10% in CEE-6 volume, reveals a Colliers analysis.

SeedBlink platform is expanding its presence in Germany, Austria and Switzerland, where it wants to invest over EUR1.5 million in 2023 in eight startups and twice as much in 2024.

Cristina Batlan and Roberto Batlan, the founders of footwear and accessories brand Musette, are investing in Energoloop startup, founded in partnership with Eduard Fariseu, which operates as a photovoltaic hub providing solutions for the completion of self-consumption projects in the industrial field, but also for photovoltaic parks.

Sweden’s fashion retailer H&M has set up a new company in Romania, this time an IT one.

DCH International, a Danish holding specialized in pork production, which controls Premium Porc Group in Romania, has a EUR10 million investment budget.

E-P Rail, the rail freight transport company controlled by Radu Gheorghiu, in 2022 reached RON492 million turnover, slightly up from 2021, according to the company’s officials.

Expanded polystyrene producer Hirsch Porozell ended 2022 with RON240 million turnover after a 17% increase on the year.