Romania Feed

The Romanian Government has approved a bill that provides, among others, the establishment of an agency tasked with monitoring and assessing the performance of public enterprises.

Nuclear power producer Nuclearelectrica (SNN.RO) informed its shareholders and investors that it placed with Banca Romaneasca a term deposit without extension in the amount of RON61.4 million, on December 19, 2022, in line with a stock market report.

Electricity distributor and supplier Electrica (EL.RO) announced in a stock market report on Tuesday (Dec 20) that it concluded two agreements for market making services with brokerage companies BRK Financial Group (BRK) and Wood & Company (Wood&Co) for a period of 2 years, starting with January 3, 2023, with the possibility of extension.

Romania’s National Defense Ministry via Compania Nationala Romtehnica has signed a framework agreement with Israel’s Elbit Systems Ltd for up to seven UAS Watchkeeper X systems worth a total of about RON1.891 billion, VAT not included.

Despite solid margin growth, more than half of the world’s banks continue to experience profitability problems and a return on equity that is below their cost of equity, as per the 12th edition of the McKinsey Global Annual Banking Review.

The Board of Directors of Romanian state-owned energy utility group Electrica (EL.RO) has extended the mandate of Cristian Bosoanca as Chairman of the Board starting January 1, 2023 until December 31, 2023.

Accenture's “Payments Gets Personal” report shows that up to $89 billion (4.6%) of global payment revenues could be at risk in the next three years for banks that are slow to offer next-generation payments options.

Romania’s insurance market reached a volume of underwritten gross premiums of RON12.1 billion in the first nine months of 2022, up 23% versus the year-ago period, the country’s Financial Supervisory Authority (ASF) said in its latest report on the evolution of the local insurance market.

FAN Courier, the leader of the local courier services market, has leased 5,000 square meters of storage and office space in the P3 Bucharest A1 logistics park where it plans to develop the main shipping hub in the west of capital city Bucharest, which will serve all FAN Courier customers in this part of the capital.

The net flow of foreign direct investment (FDI) stood at EUR9.4 billion in the first ten months of 2022, in line with data from Romania’s central bank.

In October 2022, the volume of construction works in Romania rose, in unadjusted data, by 34.3% compared to October 2021 and was up 32.9% when adjusted to the number of working days and to seasonality, in line with data from the country’s statistics board INS.

Dent Estet network, part of MedLife group, has taken over stomatology clinic DentaLife of Bucharest, previously part of MedLife portfolio.

Private hospital Sanconfind of Campina, with a 90-bed capacity, will near the RON30 million threshold by yearend.

DHL, one of the largest actors in the courier service market, will end the year with a rise of 20% in revenue compared with last year, when its revenue stood at RON417 million, Finance Ministry data show.

Romania's finance ministry raised RON1.37 billion on Monday (Dec 19) through two government bond issues, at annual average yields of 7.63% and 8.35%.

Shareholders of the Bucharest Stock Exchange (BVB.RO) approved on Dec 19 the conclusion of a contract for a ten-year period with the company Complexul Multifunctional Victoria SRL for the lease of a location designated for BVB’s headquarters and fit-out works within the America House building held by the company, as per shareholders’ decisions published on the website of BVB.

Croatian-held Submarine Burger, which specializes in vegan burgers, opened its first two restaurants in Bucharest this year, following EUR1.5 million investments and will open the third early next year.

Maib, the largest credit institution in the Republic of Moldova, with assets of EUR2 billion, said its Supervisory Board approved the syndicate of investment banking advisors following a decision of Dec 14 to list the company’s shares on the Main Market of the Bucharest Stock Exchange, the international stocks tier, within an offering scheduled in 2023.

The priority for BRD Pension Fund in 2023, as before, is the responsible management of the company's private pension funds, BRD Pension said in a response to ZF’s request for comment on a potential exit from the Pillar II pension fund business.

In 2021, among EU member states, the highest average annual adjusted full-time salary was in Luxembourg (EUR72,200), Denmark (EUR63,300) and Ireland (EUR50,300), and the lowest in Bulgaria (EUR10,300), Hungary (EUR12,600) and Romania (EUR13,000), according to a report by Eurostat, the statistical office of the European Union (EU).