Romania Feed

Prada last week opened a second plant in Sibiu, while Moncler is building its second production unit in Bacau.

Timisoara-based fuel wholesaler Artoil, held by Alexandra and Alex Bunceanu, posted about EUR110 million revenue in the first half, an increase of almost 62% on the year-ago period, ZF has calculated from the data the company supplied.

A new five-star hotel is planned to be built on a lot right near the Sheraton in Bucharest and is now awaiting the necessary permits, says Daniel Ben-Yehuda, who runs the five-star Sheraton and the Parc Hotels complex, which includes the four-star Ramada Parc and Ramada Plaza in the north of the city.

Revolut Business, the financial app developed for the business client segment, and Sodexo Benefits & Rewards Services Romania, the leader of the local extra salary benefits market, are developing a strategic partnership through which companies will benefit from personalized financial services and extra salary benefits.

Romania's finance ministry on Monday (Oct 24) reopened a bond issue due in September 2032 and borrowed RON428.5 million from banks, at an annual average yield of 9.7%.

EuPlatesc.ro, one of the largest payment processors in Romania, partner with nine banks on the local market, announces the integration of the Apple Pay payment service into its own platform to simplify the payment process in online stores, which is a first on the local market of online payment solutions.

Romania’s office market is going through a period of multiple challenges, reflecting economic uncertainty and inflationary pressures which discourage companies from expanding. Thus, the market’s return to pre-pandemic levels is also delayed, stated Alexandru David, Head of Research JLL Romania.

Romania's capital city Bucharest places seventh among the world’s best cities for fixed broadband, climbing one spot compared to the previous year's ranking, with a record of 195.6 Mbps download speed, outpacing Los Angeles, Tokyo, Abu Dhabi, Zurich, Paris and other cities, according to Ookla's annual Speedtest Global Index.

Specialists say the total number of electric vehicles registered in Romania has exceeded 21,000 units and is expected to reach 25,000 units by the end of 2022, according to the e-mobility index for the first nine months of 2022 presented by LEKTRI.CO, one of the leading players in the field of electric mobility in Romania.

Restart Energy, one of the largest independent electricity suppliers in Romania, recently signed a contract with TED Agro and TED Farm for the installation of 230 kWp photovoltaic generators.

MedLife, leader of Romania’s private healthcare market, has announced it completed the acquisition of an 80% stake in Medici’s, the largest healthcare provider in Timisoara, following competition authorities’ approval.

Bookstore chain Carturesti, controlled by Nicoleta Dumitru and Serban Radu, opened two new bookstores in September and October, in Tagoviste and Piatra Neamt, in shopping centers.

Botosani-based suit manufacturer Formens, controlled by French entrepreneur Losson Gerard Justin Joseph, for 2021 reported turnover worth RON196.7 million (EUR40 million), down around 13% year-on-year.

Furniture maker Artemob International, controlled by French company P3G Industries, with plants in Bucharest, Sovata and Tarnaveni, returned to profit last year, with a net gain of above RON6 million (EUR1.2 million), from net losses of around RON13,700 (EUR2,800).

The outlook of Romania’s joining the Schengen area makes major investors raise their stake for Romania. WDP, a major logistic and industrial space developers locally, says it wants to secure its territory in eastern Europe and plans to reach 2 million square meters in the coming years.

A project worth EUR6 million, due to include several sports grounds, swimming pools, event halls and a hotel, is set to be launched in Feleacu locality, Cluj county.

Golden Foods Snacks, a group held by the Mitzalis Family, has acquired Galati-based bakery and pastry producer Derpan owned by the Ancuta Family.

Six out of ten Romanians say their financial situation has worsened compared to last year and future expectations are not optimistic either, as per CEC Bank’s quarterly financial Barometer developed in partnership with banking comparison maker FinZoom.ro.

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Romania’s import-export bank Eximbank a term deposit without extension in the amount of RON73.1 million, the company informed its shareholders and investors via a report to the Bucharest Stock Exchange on Friday (Oct 21).

The Board of Directors of Romanian shipyard Santierul Naval Orsova (SNO.RO) included on the agenda of the General Ordinary Meeting of Shareholders due on Nov 24 the distribution of dividends in the amount of RON6.05 million from the profit reconstituted by transferring the amount from the balance on Dec 31, 2021 of the "Other reserves" account to the dividend account, as per a stock market report.