Romania Feed

Real estate developer Impact Developer & Contractor (IMP.RO) notified the Bucharest Stock Exchange on Friday, December 30, that its second largest shareholder Adrian Andrici’s stake had dropped below 15% to 13.11% on July 27, 2022.

EximBank completed the merger by absorption with Banca Romaneasca and will enter the retail market in Romania on December 31, 2022, becoming a full-service bank.

The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, will grew to 5.71% starting January 1, 2023, from 4.06% at present, in line with central bank data.

In 2022, Romania’s finance ministry has approved financial state aid worth RON2.8 billion for 65 investment projects that will generate more than 9,500 new jobs, the ministry announced on Friday (Dec 30).

The number of newly established companies went up by 3% in the first 11 months of 2022, to almost 144,000 entities, a result that will turn 2022 into a benchmark year in terms of entrepreneurship, with the mark of 150,000 firms and PFAs set to be reached at yearend, in line with ZF estimates.

Raiko Transilvania (RKOT.RO), a rainwater and roofing systems manufacturer listed on the AeRO market of the Bucharest Stock Exchange, said on Dec 29 that the company’s sole administrator, Tomasz Kurcin, who controls the company via other company, sold his holding of 18.34% within multiple sale and purchase deals carried out between February and October 2022.

Tech startups in Romania got EUR79.27 million funding in 2022, 7.35% less than the EUR85.56 million of 2021 attracted in 93 rounds, a report by Activize shows.

Dumitru Popescu, 45, a Romanian entrepreneur with experience in the hospitality industry and constructions, wants to build a bread factory in the locality of Carcea (Dolj County) and expects the total investment to amount to EUR12-15 million, which will be covered from bank loans and own funds.

Romania's Transport Minister Sorin Grindeanu announced on Thursday (Dec 29) the signing of a contract aimed at expanding the passenger terminal of the international airport in Oradea (western Romania).

After 2020 and 2021 were affected by the effects of the coronavirus pandemic, the year 2022 came with new challenges, such as a war on the borders of Romania, energy crisis, inflation, rise in interests and loan installments.

Romanian state-owned energy utility group Electrica (EL.RO) said in a stock market report that its Board of Directors decided in its meeting of Dec 29, 2022, to extend the appointment of Alexandru-Aurelian Chirita as interim Chief Executive Officer (CEO) and of Stefan-Alexandru Frangulea as interim Chief Financial Officer (CFO).

Romania’s Competition Council has approved a transaction whereby US company The Sherwin-Williams Company, a manufacturer of paints and coatings also present in Romania, is acquiring Italy’s Industria Chimica Adriatica active on the Romanian market through a wholesaler.

Romania’s finance ministry is launching new government bond issues for the general population only, on Tuesday (January 3, 2023), through the TEZAUR program.

The number of insolvencies globally is set to go up by around 2% in 2023 against 2019, reveals an analysis by Allianz Trade. In Romania, the number of insolvencies will be 20% higher than in 2019.

Calipso, the producer of spring water brands Miraqua and Codrii Vlasiei, owned by Siderache family, is entering retail with a coconut-flavored natural juice range.

E-INFRA group, controlled by businessman Teofil Muresan, is ending 2022 with a solar project portfolio of 45 MW, with the target for 2023 envisaging installed capacity of 100 MW.

SIF Hoteluri (CAOR.RO) has notified its shareholders of the sale of the Eurohotel Hotel in Baia Mare, including real estate, fixed assets, inventory items, stocks of goods, intangible movable assets, employees and contracts with customers and suppliers, as per a stock market report.

Romania’s general consolidated budget posted a deficit of RON58.70 billion in the first eleven months of 2022, Finance Ministry data showed.

Romania's nuclear power producer Nuclearelectrica (SNN.RO), which operates the country's sole nuclear power plant, said in a stock market report that it completed the takeover of the uranium concentrate processing line at the Feldioara Branch of the insolvent National Uranium Company on Dec 28.

Bucharest Stock Exchange recorded two transactions with 550,000 shares of biodegradable packaging manufacturer Promateris (PPL.RO) worth RON4.2 million on the deal market on Wednesday, December 28, Bucharest Stock Exchange data show.