Romania Feed

Raiffeisen Bank, the local subsidiary of the Austrian group of the same name, for the first nine months of 2022 reported RON920 million net profit, up 43% from the year-earlier period.

Local startup easySales, which which set up an automated B2B management and e-commerce platform, expects to reach annual recurrent revenues of around EUR700,000 at end-2022 as its team is now focusing more on medium-sized and large customers.

OMV Petrom, the only local oil and gas producer, posted RON2.9 billion operating result on the gas and energy segment for the first nine months of 2022, almost seven times higher than in the year-earlier period.

Gas production in Romania reached 6.7 billion cubic meters In the first nine months of the year, up slightly from 6.6 billion cubic meters in the same period last year, data provided by the national natural gas transmission company Transgaz show.

Fashion brand Louis Vuitton, one of the most important names in the luxury industry, is preparing to go to the ground floor of the Athénée Palace Hilton Hotel on Calea Victoriei in Bucharest.

Paval Holding (Dedeman) is about to close a EUR350-390 million deal to acquire CA Immo office space portfolio.

New car registrations in Romania increased by 8.19% to a total 105,817 units in the first ten months of 2022 versus 97,870 units in the same period of 2021, data from the association of automotive manufacturers in Romania (ACAROM) and of Romania’s General Directorate for Driving Licenses and Car Registration (DRPCIV) showed on Wednesday (Nov 2).

Romania’s logistics and industrial market is close to touching a new record high in 2022 in terms of demand, which is reflected in the average vacancy rate that stood at 4.3% at the end of the first nine months of the year, one of the lowest levels of the last ten years, as per data from consulting firm Cushman & Wakefield Echinox.

Inflation and recent changes in the Tax Code prompt Romanian entrepreneurs to invest in the digitization and automation of processes in their companies in order to reduce expenses by up to 35%.

Ultragreens, a Romanian producer of microgreens and aromatic plants, set off its regional expansion by placing the first two Microgreens in the Kaufland Bulgaria network and preparing to open a Green Hub in the capital city of Sofia.

The Romanian mergers and acquisitions (M&A) market recorded 169 transactions in the first nine months of 2022, seeing an increase of 18% compared with the same period of 2021, according to an EY analysis.

Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised Rezolv Energy, the portfolio business of global investment fund in sustainable infrastructure Actis, on the acquisition of the 1,044 MW solar plant in Romania’s Arad County from Monsson Group.

The Energy Deal Advisory team of KPMG in Romania assisted Monsson, the leading developer of renewable energy projects in Romania, with the sale of the largest solar project development in Europe to Rezolv Energy, a leading CEE energy transition platform backed by EUR500 million funding from Actis, a top global investor in sustainable infrastructure.

Courier services company Cargus has appointed Yannick Mooijman as the company's new Chief Executive Officer (CEO), starting November 1, 2022.

Raiffeisen Bank, a major player in Romania’s banking sector, is listing on Wednesday (Nov 2) its second issue of sustainable bonds worth RON325.5 million, on the Bucharest Stock Exchange.

Industrial production prices for the total (domestic market and non–domestic market) increased by 46.7% in September 2022 compared to September 2021, data from Romania's statistics board INS showed on Wednesday.

Monsson group, the biggest green energy project developer in Romania, has signed an agreement with Rezolv Energy, a company owned by British investment fund Actis, for the development of a 1,044 MW solar park in Arad.

Romanian entrepreneur Gigi Becali, owner of football team FCSB, the formerly Steaua, wants to develop an integrated agricultural business on the 850 hectares of land in Tulcea county he leased from the State Domains Agency (ADS).

Bucharest’s four-star Cismigiu hotel, one of the city’s monument buildings, controlled by Spain’s Hercesa, expects to generate EUR1.45-1.5 million turnover in 2022, according to Mirela Cojocaru, the hotel’s general manager.

Philips Orastie, part of Dutch giant Philips, currently has 60 jobs available at the home appliances plant of Hunedoara, where the company produces coffee machines and oral hygiene products.