Romania Feed

Romania placed last in the European Union by research and development (R&D) expenditure as a percentage of GDP in 2021, the statistical office of the European Union, showed on Friday (Dec 2).

Commerce, manufacturing and agriculture are the economic sectors that received the bulk of corporate financing from lender Banca Transilvania, as the combined balance of loans granted for the three fields exceeded RON14.3 billion at the end of the first nine months of 2022, up nearly 27% on the year.

Romania's foreign exchange reserves decreased by EUR697 million in November 2022 versus October 2022, to EUR45.5 billion, central bank data showed Friday.

Insurance companies set up gross technical reserves of RON22.6 billion in the first half of 2022, up 8% on the year, as per data published in the report of Romania’s financial supervisory authority (ASF) regarding the evolution of the insurance market in the first half of 2022.

UiPath (NYSE: PATH), the first Romanian company listed on Wall Street, announced $262.7 million revenue in the third quarter of its 2023 fiscal year ended October 31, a 19% increase year-over-year.

The volume of air passenger transport in Romania increased by 96.9% in January-September 2022 to over RON15.7 million compared to just under RON8 million in the same period of 2021, in line with data from the country's statistics office INS.

The turnover of companies operating in the Romanian software industry increased by nearly 14.5% compared to 2020 and was 246% higher than in 2012, reaching a record high of almost EUR10 billion in 2021, as per finance ministry data.

QFort door and window maker Casa Noastra (Dolj County) will start production in a new plant next year, which it is now developing using state aid secured at the beginning of 2020. State aid accounts for EUR9 million of the EUR20 million investment.

German manufacturer of wiring harnesses for the automotive industry and electrical systems Kromberg & Schubert Romania NA, the local subsidiary of the German group Kromberg & Schubert, currently has 100 jobs available for unskilled workers in the assembly and installation of parts at the factory in Nadab, near Arad, according to information on the AJOFM (County Agency for Employment) Arad website.

The coming period will be a busy period for institutional investors as two banks, Banca Comerciala Romana and UniCredit Bank, are expected to release bond issues they will later have listed on the Bucharest Stock Exchange.

Fapaco, a Bucharest-based construction company owned by the Fleancu family, increased its revenue by 36% to RON160.9 million in 2021, which makes it one of the fastest-growing businesses year-on-year in the construction sector.

Alexandrion Group, the largest producer and distributor of spirits and wines in Romania, announces the expansion of its imports portfolio with the brand “Chopin”, an ultra-premium vodka created in a craft spirits distillery in Poland.

Electricity supplier Electrica Furnizare, part of Electrica Group, concluded a partnership with Zentiva Romania for the installation of photovoltaic (PV) panels at the Labormed Pharma production and storage unit in capital city Bucharest.

Raiffeisen Bank on Friday (Nov 25) placed a new corporate bond issue in lei, raising almost RON369 million from institutional investors for a five-year maturity, the bank said on Tuesday.

Cluj-based dairy producer Bonas Import Export, listed on the Bucharest Stock Exchange in June 2021, reported a loss of RON144,196 for the first nine months of 2022 from a net profit of RON135,000 in the same period of 2021, as per data from the company’s financial report.

Chimcomplex (CRC.RO), the leading producer and supplier of vital chemical substances in the region, has approved the payment of RON127 million as interim dividends (gross amount), based on midyear financial reports, as per a decision of the Ordinary General Meeting of Shareholders.

STK Properties (STKP.RO), an investment vehicle founded by the STK Emergent investment fund for the development of a real estate project in Cluj-Napoca, announced a loss of RON37,788 for January-September 2022, from a loss of RON13,528 in 2021.

The majority (54) of countries worldwide, including Romania, want a cashless society, while the 32 countries remaining in the survey conducted by Merchant Machine reject the idea.

Polish retailer Smyk Group, specialized in selling children’s products, will be opening its first store in the town of Roman, on Thursday (Dec 1), reaching a total 27 units in Romania.

Romanian authorities issued 37,790 residential building permits in January-October 2022, 13% fewer than in the same period of 2021, data from the country’s statistics board INS showed Tuesday.