Romania Feed

CFA Society Romania is launching a financial education campaign on TikTok to help Gen Z learn more about how they can organize their travel budget, about the jobs of the future, how they can monetize their passions and what a leisure budget means.

SafeTech Innovations, a Romanian cybersecurity firm with offices in Bucharest, London and Abu Dhabi, expects RON58.1 consolidated turnover and net profit of RON13.9 million for the current year.

BRD Group in 2022 generated RON3.45 billion revenues, up 11.7%, while profit rose by around 1.4%, to RON1.33 billion.

Romania’s largest electricity producer Hidroelectrica could build a solar park of up to 1,500 MW on a plot of land leased directly from the State Domains Agency (ADS) in the Piscul Sadovei-Dabuleni area (Dolj), according to information not confirmed by the company.

Fabrica de Bere Buna, Romania's leading craft beer producer with a brewery in Prahova County, has attracted Vertical Seven Group, an investment fund founded by Iulian Circiumaru and Andrei Cretu, as a shareholder.

BRD - Groupe Société Générale S.A. said in a stock market report on Tuesday (Feb 7) that its Board of Directors appointed Madalina – Otilia Teodorescu to the position of Deputy CEO Retail, for a four-year mandate, starting with March 6, 2023.

Romanian lender CEC Bank on Tuesday (Feb 7) raised over EUR119 million (about RON587 million) in a new international placement of bonds eligible under the Minimum Requirement for own funds and Eligible Liabilities (MREL).

Romania's real estate market saw record investments in 2022, passing a historic milestone of EUR1.25 billion, which translates into an increase of 36% versus 2021, according to the latest CBRE report – “Market Outlook 2023”.

The number of newly established companies increased at a moderate pace in Romania in 2022, with 3% more firms being registered as compared to 2021 (152,809 from 148,294), in line with data from the country's Trade Register, as cited by the National Council of Romanian Small and Medium-sized Enterprises (SMEs), or CNIPMMR.

Law firm Filip & Company has assisted private equity firm Mozaik Investments with the acquisition of a minority stake in the company operating the Untold Group, the largest player on the Eastern European entertainment market.

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Romania’s import-export bank Eximbank a term deposit without extension in the amount of RON209 million, the company informed its shareholders and investors via a report to the Bucharest Stock Exchange on Feb 7, 2023.

The transition toward the net-zero economic model can protect the labor market against climate change related risks and can create up to 300 million new jobs worldwide by 2050 provided that the decarbonization plans bring together concerted action on behalf of governments and businesses, focusing both on the achievement of environmental objectives and on employees’ protection policies, as per Deloitte study “Work toward net zero: The rise of the Green Collar workforce in a just transition”.

Color Smart, sole importer and distributor in Romania and the Republic of Moldova of premium and premium plus brands Novacolor, Color Smart and Pittsburgh Paints, expects a 35%-40% increase in the luxury interior design market in 2023.

Romanian stock market brokerage firm Investimental has been admitted as participant in Bucharest Stock Exchange trading system.

Precast concrete products manufacturer ASA CONS of Turda forecasts turnover worth around EUR30 million turnover for 2023, down from 2022, given that sales prices for steel concrete are on a slightly downward trend.

Sensiblu, the brand of the second largest retail pharmacy network in Romania for 25 years has been fully replaced by Dr. Max, the name owner Penta Investments uses for its pharmacies in Europe.

Builder Concelex focused on organizational and operational development, digitalization and team expansion in 2022, and its revenue stood at more than RON500 million, up from the previous year.

Romania's finance ministry raised RON505 million on Monday (Feb 6 ) selling bonds maturing in October 2028, at annual an average yield of 7.55%.

Austria’s financial group Erste has revised its forecast on Romania’s annual inflation rate down to 8% by end-2023, versus 8.7% in its previous forecast, after the rate touched a record high of 16.8% in November 2022, according to Erste's report released on Monday (Feb 6).