Romania Feed

Blue Air announced on Tuesday it did not expect new flight reschedulings or cancellations over the next few months, except for those caused by notifications from airports or related to flight safety, the airline said, after the Bucharest Court of Law extended the preventive composition procedure the company started in 2020 by 12 months.

The recovery of the Bucharest office space market continued in the first half of 2022 too, despite uncertainty and fears of an economic slowdown, according to real estate consulting firm Colliers.

Romania ranks first in Europe in terms of investment intentions, if we talk about supply and logistics chains, according to Bogdan Ion, country managing partner EY Romania and Moldova.

Romania's largest lender by assets, Banca Transilvania (BT.RO), has obtained a very good ESG Risk Rating (17) and is included in the Low Risk category following the Sustainalytics analysis in terms of ESG (Environment, Social, Governance) initiatives and performances.

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, has increased to 6.79% a year on Friday (July 8) from 6.76% on Thursday (July 7), as per central bank data.

Romania's gross domestic product (GDP) grew by 5.1% in real terms (in unadjusted data) in the first quarter of 2022 as compared to the fourth quarter of 2021, the country’s statistics board INS said on Friday (July 8).

Euro Vial Residence, a major developer active on the real estate market of Constanta, has acquired Clos des Colombes domain located in 23 August-Olimp area, in a EUR1.5 million deal.

Holcim Romania, Romania’s biggest building materials producer by turnover, active in cement manufacturing, announced it acquired General Beton Romania, a local player on the concrete market, with the deal already greenlighted by Romania’s competition authorities.

Frederic Lamy, CEO of Leroy Merlin Romania, says the company wants to reach 25 stores by end-2025 and hit EUR1 billion turnover in 2025.

Builder CON-A of Sibiu, owned by entrepreneur Mircea Bulboaca, estimates turnover will rise in 2022 from 2021, having upbeat expectations for this year.

Ophthalmology hospital Infosan of Bucharest, set up in 2002 by two medics, expects turnover to rise by 10-20% this year, after having ended 2021 with RON16 million (EUR3.2 million).

Fitbit, one of the world’s largest makers of smartwatches and wearable gadgets, which in 2021 became part of US giant Google, is likely to reach around 400 employees by yearend at the Bucharest center, which has become a key one, involved in all the company’s activities, stated James Park, Fitbit CEO and co-founder, and Majd Bakar, Google VP of engineering, in an exclusive interview with ZF.

TBI Bank, the largest provider of Buy Now Pay Later (BNPL) solutions, has concluded a partnership with Spotawheel, one of the fastest growing used cars platforms in Europe, to help customers from Romania and Greece with car purchasing.

Romania's finance ministry raised RON419 million on Thursday (July 7), above the planned level of RON300 million, selling bonds maturing in October 2034, at an annual average yield of 9.13%.

The economic impact of the Romanian banking sector is estimated at RON2,247 billion in the period 1990-2020, according to the survey ″The contribution of the banking sector to the economy in the last 30 years″, conducted by KPMG Advisory at the request of the Romanian Banking Association (ARB).

Glow2Go, a beauty and wellness on-demand platform that connects people with experts providing manicure, pedicure, hairstyle, massage, and make-up services, has raised EUR192,000 in a pre-seed funding round.

Garanti BBVA Consumer Finance, part of Garanti BBVA Group Romania, has signed a loan agreement of EUR10 million with the International Finance Corporation (IFC), the investment arm of the World Bank Group, aiming to help Romanians reduce their homes’ carbon footprints.

One United Properties (ONE.RO), a developer of sustainable residential, office and mixed-use projects in Romania, on Thursday (June 7) published the Sustainability Report for 2021.

State-owned company Salrom, the only salt producer in Romania, could be listed on the Bucharest Stock Exchange between April and May 2023, according to economy minister Florin Spataru.

Romania’s financial supervisory authority ASF on Wednesday approved a draft enabling investment manager BT Asset Management, jointly with several funds and persons acting in concert, to obtain the quality of significant shareholders by acquiring, in concert, a direct qualified ownership stake representing at least 10% of the share capital and of the total voting rights of Evergent Investments (EVER.RO).