Romania Feed

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.

Romania’s industrial production fell by 1% in unadjusted data in January-September 2022 versus the same period of 2021 and by 1.6% when adjusted for seasonality and number of working days, data from the country’s statistics board INS showed Monday (Nov 14).

Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) said in a stock market report on Monday (Nov 14) that it ended the first nine months of 2022 with a net profit of RON28.7 million, up 51% from the same period of 2021.

The second issue of Golden Foods Snacks corporate bonds, worth EUR1.1 million, starts trading on the Multilateral Trading System (SMT) of the Bucharest Stock Exchange on Monday (Nov 14) under the stock ticker GFS25.

Transelectrica (TEL.RO), the operator of the national energy transmission system, in the first nine months of 2022 reached total operating revenues worth RON4.88 billion, double the year-earlier period, and RON418 million net profit, from RON81 million in Jan-Sept 2021.

Romania’s natural gas transmission company Transgaz in the first nine months of 2022 posted net profit worth RON273 million, more than twice the RON112 million registered in the same period of 2021, amid RON1.1 billion revenues, up 16%.

Aerostar Bacau, a manufacturing and maintenance company in the aviation industry, registered a 30% revenue increase in the first nine months of this year from the year-earlier period. Thus, the company reached RON317 million turnover.

Daniela Jordanovski, a marketing, procurement and sales manager at dm drogerie markt Romania, says the company has invested around RON45 million in new store openings and the refurbishment of existing ones and is set to continue expansion at a faster pace next year.

Romania’s economy is expected to expand by 5.8% in 2022, as compared to a 3.9% growth rate projected in July, the European Commission (EC) said in its Autumn 2022 Economic Forecast report released on Friday (Nov 11).

Chimcomplex, the leading producer and supplier of vital chemical substances in the region, is launching a public offering for the purchase of one million own shares, respectively 0.32% of the share capital, and the total price offered nears RON23 million.

Romanian pharmaceutical manufacturer Antibiotice Iasi (ATB.RO) said in a stock market report on Friday that it ended the first nine months of 2022 with sales revenue of RON361.7 million, up 47% on the year.

Zimmer Biomet, an American medical device company, is opening an office in Romania where it plans to hire at least 25 people in the first year of activity and has announced investments of EUR3.5 million in 2023.