Romania Feed

Romania's gross domestic product (GDP) grew by 1.3% in real terms (in unadjusted data) in the third quarter of 2022 as compared to the second quarter of 2022, a flash estimate from the country’s statistics board INS showed on Tuesday (Nov 15).

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has decreased to 7.98% a year on Tuesday (Nov 15) after eight days of decline, in line with central bank data.

Arctic Stream, an integrator of IT infrastructure and security, in the first nine months of 2022 generated RON4.28M net profit, compared with RON1.8 million in the same period of 2021.

In the first ten months of 2022, passenger car production in Romania reached 425.423 units, up 27.7% from the year-earlier period, in line with data from the association of automotive manufacturers in Romania, ACAROM.

Hidroelectrica, Romania’s largest energy producer, ended the first nine months of 2022 with RON3.5 billion profit, 37% higher than in the corresponding period of 2021, amid RON6.8 billion revenues, up 47%.

Romanian state-owned oil transporter Conpet Ploiesti registered RON351.4 million turnover in the first nine months of 2022, 12.2% above the year-earlier result.

Construction materials producer Prefab Bucuresti reported net profit worth RON7.45 million in the first nine months of 2022, down 22.9% from the year-earlier period, amid RON72.9 million turnover, slightly up, by 0.61%.

eMAG, the largest online retailer in Romania and the companies operating on its marketplace, sold products and services worth RON644 million on November 11, in the 12th Black Friday campaign of the retailer.

Vegetable oil producer Argus Constanta (UARG.RO) posted RON36.2 million net profit at the end of September, 12 times higher than the RON3 million of the year-ago period, the company said in its latest financial report submitted to the Bucharest Stock Exchange.

Alro Slatina Group, one of the largest vertically integrated aluminum producers Europe, saw its net losses widen to RON110 million in the first nine months of 2022 from the RON25 million in the year-ago period, due to the rising electricity costs and decline in demand.

Romania's finance ministry raised RON480 million on Monday (Nov 14) selling bonds maturing in October 2028, at annual an average yield of 8.35%.

French-held sporting goods retailer Decathlon is opening a new store in Romania, in Alba Iulia (center-western Romania), its first unit inaugurated in 2022, reaching 29 stores on the local market.

American multinational semiconductor company Advanced Micro Devices (AMD), which develops computer processor and related technologies for business and consumer markets, said would move its design center opened in 2021 in the city of Iasi to Palas Campus, the latest office investment of urban regeneration due to be inaugurated by Iulius Group in the first quarter of 2023.

The global insolvency index, which covers 44 countries that represent 87% of the global gross domestic product (GDP), recorded in April-June 2022 period the first quarterly increase of 8% after 2020, being very close to the moment when it will register a double-digit acceleration, immediately after the third quarter, as per an analysis by Allianz Trade.

Drug manufacturer Biofarm (BIO.RO) recorded a net profit of RON65.7 million in the first nine months of 2022, an increase of 20% on the previous year, according to ZF calculations based on data published on the Bucharest Stock Exchange.

Bittnet (BNET.RO), a group of IT companies listed on the Bucharest Stock Exchange, reported loss of RON3.3 million for the first nine months of 2022 from a net result of RON9.7 million in the year-earlier period, the company said in its financial report.

Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector and who are now targeting “trophy” assets.

Romania's central bank revised upwards its 2022 year-end inflation forecast to 16.3%, from its previous August forecast of 13.9%, central bank governor Mugur Isarescu said Monday (Nov 14) at a press briefing presenting the latest inflation report.

Romanian oil and gas company OMV Petrom said on Monday (Nov 14) that it started the local production of AdBlue, a chemical used to reduce the nitrous oxide emissions of diesel engines, following an investment of EUR800,000.

Romania's current account balance posted a deficit of EUR20.1 billion in January-September 2022, higher by 59% than in the same period in 2021, central bank data published on Monday (Nov 14) show.