Romania Feed

Local airports registered 6.7 million passengers this summer, a 2.6% decrease compared with the same period in 2019, a reference year for the aviation industry, data from the Romanian Airports Association show.

Romania's finance ministry on Monday (Oct 17) reopened a bond issue due in 2034 and borrowed RON493 million from banks, above the planned level of RON400 million, at an annual average yield of 9.33%.

Romanian high-performance computing startup Amsimcel said on Monday, October 17, that it attracted EUR 4.8 million in blended financing through the European Innovation Council (EIC) Accelerator.

Shareholders of aluminum producer Alro Slatina (ALR.RO) are expected to approve in their Extraordinary General Meeting due on Nov 23 the company’s contribution in cash, in the amount of EUR43.5 million, in establishing a joint venture in order to build a power plant of 850 MW at Isalnita.

Romanian consulting firm Krugman & Partners has opened offices in New York and Bucharest in 2022, entering the market of competitive intelligence and cybersecurity, which has been booming over the last years.

CE Oltenia will hold 59.9% in the company that will build the gas-fired power plant in Isalnita, representing a contribution of EUR65 million to the project, and the selected investor, Alro, will hold 40.1%, accounting for a contribution of more than EUR43.5 million.

Transavia, the largest poultry producer in Romania, has announced the conclusion of a partnership in the field of green energy with electricity supplier Electrica Furnizare, part of Electrica Group, which stipulates, in a first phase, the installation of 6,480 photovoltaic (PV) modules at ten Transavia locations in the area of Brasov (central Romania).

Stock indices posted sharp declines in September 2022, sending most international equity markets into correction territory at the end of the first nine months as investors’ fears about rising interest rates and the possibility of a recession in developed markets gain momentum.

International rating agency S&P maintained Romania's rating at BBB-/A-3, with a stable outlook, due to an expected improvement of the country's fiscal imbalances over the next years and to upcoming reform under the recovery and resilience plan.

Romania's nuclear power producer Nuclearelectrica (SNN.RO) said in a stock market report on Monday (Oct 17) that Unit 1 was reconnected to the national power grid on the evening of October 16, 2022 after the completion of adjustment works.

Automobile Dacia and Ford, Romania’s two carmakers, in the first nine months of 2022 manufactured 381,971 passenger cars, up 21.2% from the year-earlier period, in line with data provided by ACAROM, the association of automotive manufacturers in Romania.

Poland’s PayPo, which provides an alternative payment solution of the buy now pay later type for online retailers, has recently entered Romania’s market with a EUR20 million investment budget.

Austrian group Wienerberger in the first six months of 2022 posted EUR58.1 million revenues in Romania, up 25% from the year-earlier period, in line with ZF calculations based on company data.

US giant Burger King is resuming expansion in Romania, but with a different franchisee after having in early 2022 terminated the agreement to develop the brand on the markets of Poland, Czechia, Slovakia, Bulgaria and Romania with Poland’s AmRest.

AROBS Transilvania Software is continuing its M&A strategy and currently has two deals underway, with one of them likely to be announced as soon as the yearend, explained Voicu Oprea, fonder and CEO of the company.

Allianz-Tiriac, Romania’s second largest general and life insurer in line with the latest financial watchdog ASF data, estimates it will near the RON3 billion threshold in terms of underwritten premiums toward the end of 2022.

The private group Monza, controlled by Italy’s Policlinico di Monza, which has been operating the largest private cardiology hospital in Romania for over a decade, is to sell the hospital it developed in Enayati Medical City in the north of Bucharest, ZF sources say.

The fourth-generation Dacia Duster, to be launched most likely in 2033, will be the first electric car made at Dacia's Mioveni plant, says Dacia Brand CEO Denis Le Vot.

Romania's current account balance posted a deficit of EUR16.9 billion in January-August 2022, higher by 58% than in the same period in 2021, central bank data published on Friday (October 14) show.

Port operator Comvex Constanta (CMVX.RO) plans to disburse RON21,572,871 dividends from its 2021 recorded and undistributed profit, the company said in a report to the Bucharest Stock Exchange.