Romania Feed

The shareholders of BT Leasing Transilvania IFN approved on August 16 the merger in principle with Tiriac Leasing IFN SA.

Dorin Mateiu, the former owner of Elit Cugir, one of the most important firms on the local meat and cold cuts market, subscribed 99.6 million shares within the share capital increase operation of real estate developer One United Properties (ONE.RO), a stock market report showed on Friday.

Electronic component manufacturer Plexus Services Ro, the local subsidiary of the US Plexus Group, currently has 76 job openings at its plant in Oradea located in Romania's western county of Bihor.

Romania, with an annual inflation rate of 13% in July 2022 (based upon the harmonized consumer price index of the European Commission), has the second lowest rate in the European Union (EU), as per data from the EU’s statistical office Eurostat.

State-owned natural gas producer and supplier Romgaz (SNG.RO) borrowed EUR325 million from Raiffeisen Bank at an interest of three-month EURIBOR plus 0.05% per annum, ZF has found from the company’s first half report.

Lantmännen Unibake Romania, the local division of Sweden’s Lantmännen Unibake, plans to build a production unit from scratch where it will produce bread specialties.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, stagnated at 7.97% a year on Friday (August 19), as per central bank data.

Even with the tremendous volatility in the sector, there are many more traditional hedge funds investing in crypto and more specialist crypto funds being created as the digital asset class gains acceptance, according to PwC’s 4th Annual Global Crypto Hedge Fund Report 2022, produced together with the Alternative Investment Management Association (AIMA) and Elwood Asset Management (now part of CoinShares).

Omniasig, Asirom and BCR Asigurari de Viata, the three Romanian insurance companies owned by Austria’s Vienna Insurance Group (VIG), reached combined underwritings of EUR412.4 million at the end of the first six months of 2022, up 54.8% on the year, VIG said in its half-year financial report.

Car parts supplier Autonet Import, held by businessmen Zoltan Kondor and Mihaly Lieb and by Switzerland’s Swiss Automotive Group (SAG), had a net profit of RON79.4 million (EUR16.1 million) in 2021, 2.4-fold higher than RON33 million (EUR6.8 million) in 2020, in line with public data.

Cognyte Romania, the local division of Cognyte, a global leader in security analytics software, plans to hire 33 IT experts at its office in capital Bucharest for the positions of database administrator, devops engineer, devops team leader, director of software development, IT infrastructure system integrator, Java deve­loper and senior Java developer, project delivery manager and system architect.

Romania's finance ministry raised RON823 million on Thursday (August 18) from banks via two government paper auctions at annual average yields of 7.68% and 7.45%.

The annual inflation rate in the European Union was 9.8% in July 2022, up from 9.6% in June 2022 and from 2.5% in July 2021. In Romania, the annual inflation was 13% in July 2022, in line with data from Eurostat, the statistical office of the European Union, on Thursday (August 18).

The Romanian leu has further gained ground against the euro by midday Thursday (August 18) and the central bank set the leu’s reference rate versus the euro at 4.8793.

The number of job vacancies in Romania stood at 46 thousand in the second quarter of 2022, decreasing by 1.3 thousand as against the previous quarter, data from the country’s statistics board INS showed Thursday.

MAM Bricolaj (MAM.RO), a supplier of materials and furniture accessories, held by the Gavan family, on Thursday reported an operating income of RON27.8 million for the first half of 2022, up 9% on the year, as per data from the company’s half-year financial report.

Real estate developer Impact Developer & Contractor (IMP.RO), held by businessman Gheorghe Iaciu, on Thursday informed the capital market about the opening of a private placement for the subscription of up to 125 million ordinary new shares.

Law firm RTPR has assisted Catalyst Romania Fund II in relation to the acquisition of a minority stake in Evolution Prest Systems S.R.L., the company that owns the e-commerce website www.evoMAG.ro specialized in IT&C, telecoms and FMCG products.

The volume of Romanian construction works increased, in unadjusted data, by 4.3%, in January-June 2022 as compared to the same period of 2021, and by 1.9% when adjusted to the number of working days and to seasonality, data from the country’s statistics board INS showed Thursday.

Low-cost airline Wizz Air has announced the opening of a new base, in Suceava (north-eastern Romania), and the launch of five new routes from Suceava to France, Belgium, Italy, Cyprus and The Netherlands.