Romania Feed

Scandinavian furniture and home products retailer JYSK is continuing its expansion in Romania by opening a new store on Thursday (October 6) in the locality of Motru (Gorj County).

Deloitte celebrates 30 years of presence on the Romanian market, during which time it has reached a team of some 3000 advisors from an initial team of five employees.

Romanian ERP (enterprise resource planning) software development company Pluriva, founded in 1998, ended 2021 with a turnover of RON8.3 million, up 10% on the year, company representatives said in a statement.

UTI Group, made up of six companies and founded by businessman Tiberiu Urdareanu, expects a turnover of EUR100 million in 2022, up 15% from 2021.

Romania records an energy loss to operators and consumers of almost 50% of the entire production and the bulk of losses is due to energy inefficiency in buildings, Dumitru Chisalita, President of the Intelligent Energy Association said at the launch of the Pact for Clean Energy Resilience in Romania.

An integrated team of specialists of PwC Romania and D&B David si Baias, the connected law firm of PwC in Romania, has assisted Belgian-based Ceres Pharma held by investment fund NAXICAP, in the transaction whereby it acquired the majority stake in Romanian dietary supplements manufacturer Dacia Plant.

Liberty Galati is to accelerate its programs aimed at improving energy efficiency and driving its increased use of renewable energy as part of its GREENSTEEL transformation plans and CN30 vision.

Romania's central bank has decided at its board meeting on Wednesday (October 5) to raise its benchmark interest rate by 0.75% percentage points to 6.25% a year from the current rate of 5.5% a year, starting October 6, 2022.

Reff & Associates| Deloitte Legal obtained, in the administrative appeal stage with the Ministry of Finance, a favorable solution for a taxpayer operating in the agribusiness sector, namely the annulment of a tax decision issued during a tax inspection for operations carried out during a period for which the statute of limitation occurred, and which had been the subject of a previous tax inspection.

The European Bank for Reconstruction and Development (EBRD) is lending EUR50 million to UniCredit Leasing Corporation to support micro, small and medium businesses (MSMEs) in Romania.

Fiscal deficits will remain elevated in Romania in the medium term: 4.7% of GDP (cash basis) in 2024, compared to the 2.9% target set by the country's Government, according to the World Bank’s Regional Economic Update.

Local software producer Softbinator Technologies, listed on the AeRO market of the Bucharest Stock Exchange, announced the implementation within the company of a financial-accounting system that accepts payments with stablecoins, thus becoming one of the first blockchain providers in Romania to accept payment with such cryptocurrencies.

Special steel producer COS Targoviste, a company managed by judicial liquidator Mastro SPRL, will officially launch bankruptcy procedures, in the wake of a court ruling of October 4.

2Performant, the main player on Romania’s affiliated marketing market, listed on the AeRO market of the Bucharest Stock Exchange, has announced sales generated by its own platform reached EUR24 million (VAT not included) in the third quarter of 2022, up 42% from the year-earlier period.

MedLife, leader of Romania’s private healthcare market, controlled by Marcu family, has signed an agreement to take over 51% in Provita group stock.

Lithuania’s car sharing company Spark, which started operating in Bucharest in 2019, expects its number of clients to rise by around 10% during 2022 and plans to further develop its services in the corporate area, said Cristian Prichea, the new country manager of Spark Romania.

Software services company Qualysoft Romania, part of the Austrian group of the same name, ended 2021 with turnover of above EUR3 million, up around 95% on the year and expects over 65% turnover growth in 2022, according to Radu Postolache, the company’s general manager.

Timis family, founder of cold cuts empire CrisTim, plans to invest EUR7 million in a winery in Chitorani locality, Prahova county, where Casa Timis is also located.

Paval Holding, the Paval brothers' company that also owns Dedeman, is close to buying the first phase of the U Center office space development in the Tineretului area in Bucharest from Forte Partners, real estate market sources say.

With almost 0.5 million square meters under construction and 44% of the surface area under construction already pre-leased, the modern industrial space stock in Romania stood at 5.9 million sqm in the first half of 2022, as per data from real estate consulting firm CBRE Romania.