Romania Feed

Quadrant Amroq Beverages, the bottler of the PepsiCo beverages in Romania, ended 2021 with a turnover of RON1.154 billion, up almost 22% from 2020, as per finance ministry data.

Romania’s leading online retailer eMAG has a new chief marketing officer as of July 1, the company announced. The new manager, Irina Pencea, will supervise the brand and marketing strategy of eMAG and the marketing teams in Romania, Hungary and Bulgaria in her new role.

Romania’s industrial production decreased by 0.8% in unadjusted data in January-May 2022 compared to the same period in 2021 and was down 2.4% when adjusted for seasonality and number of working days, data from the country’s statistics board INS showed Wednesday.

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 6.99% a year on Wednesday (July 13) from 6.93% a year on Tuesday (July 12), as per central bank data.

Fratelli group of restaurants and clubs targets a turnover of RON70 million in 2022, up 25% compared to 2021 and almost double versus 2020.

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).