Romania Feed

Oradea-based producer of PVC and aluminum windows and doors, owned by Romanian entrepreneurs Marius and Simona Pantis, saw its turnover go up by 60% in the first four months of 2022 from the same period of last year.

Carmo Lact Prod, a dairy and cheese producer of Monor, Bistrita-Nasaud, controlled by entrepreneurs Eugen Creosteanu, Ioan Neagos and Alin Neagos, reached RON158.4 million turnover in 2021, after a 19% increase from the previous year, in line with ZF calculations based on Finance Ministry data.

CrisTim group, one of Romania’s biggest meat producers by turnover, controlled by Radu and Cristina Timis, is set to invest RON50 million this year to retool the cold cuts plant of Filipestii de Padure, Prahova county, in the accommodation capacity of Casa Timis mansion of Chitorani locality and in energy production for self consumption.

The Foreign Investors Council (FIC) believes the current budgetary challenges must be tackled through sustainable measures for the Romanian economy targeting to address current problems without jeopardizing the country’s economic future by overburdening companies or generating a perception of regulatory instability.

French hotel group Accor has recently signed a franchise agreement with local company Leader D.G.S. Construct for the opening of an ibis Styles hotel in the town of Fagaras.

PwC Romania on Thursday announced that Adriana Costea and Radu Badiceanu were promoted as Partners in the Tax and Legal Advisory Practice and the Technology Consulting Practice, respectively, effective July 1, 2022.

Energy supplier Getica 95, held by businessman Viorel Tudose, ended 2021 with a turnover of RON1.9 billion, up 25% from RON1.5 billion in 2020.

Trustul de Montaj Utilaj Chimic Bucureşti (TMUCB) - Bucharest Chemical Equipment Assembly Trust - one of the oldest privately-held Romanian companies and one of the largest companies in the construction sector, is exiting insolvency after eight years, insolvency practitioner CITR, part of Impetum Group, said on Thursday (June 2).

ABIT Puresoft and Efecte have concluded an official partnership in Romania whereby a Service Management and Identity and Access Management Platform will be launched on the Romanian market.

Shareholders of lender Banca Transilvania (TLV.RO) unanimously approved at their general meetings of April 28, 2021 and of April 28, 2022, respectively, the lender’s purchase of own shares on the capital market as part of a stock option plan program, in line with a stock market report.

The Bucharest Stock Exchange (BSE) saw a 1.7% decrease in May 2022, as measured by BET (Bucharest Exchange Trading index) -the first index developed by BSE which includes the most traded stocks on the local market-, but gained 0.45% if dividends are priced in BET-TR (the total return version of BET), as per calculations by Ziarul Financiar (ZF) daily based on stock market data.

Romania’s airports reported a total three million passengers for the first three months of 2022, over three times more than in the same period of 2021, in line with data from the Romanian Civil Aviation Authority (AACR), as quoted by Ziarul Financiar (ZF) daily.

British American Tobacco (BAT), with a market share of 50% on the local tobacco market, on Thursday said it had contributed over EUR125 billion to Romania’s economy during its 25 years of activity on the local market.

TEILOR Holding on Thursday announced the appointment of Mircea Varga as Chairman of its Board of Directors.

Revolut, the financial super-app with more than 18 million customers globally and over 1.7 million in Romania, and Bringo, the e-grocery app specialized in personal shopper and fast delivery services, today announced a new partnership to offer new benefits to their Romanian customers.   Starting from June 2022, Revolut users in the Romanian market will […]

Results of the latest international study ‘Attitudes towards payment methods’ commissioned by eService and other EVO Group entities reveal that almost 6 out of 10 Romanians declare to pay digitally due to ease of use and convenience. Visa is a partner of the study, in the Central Eastern European region, including Romania.   The study […]

Japan Tobacco International (JTI), one of the largest cigarette manufacturers in Romania, on Thursday said it appointed Alexander Pitchka to the position of General Manager of JTI Romania, Moldova and Bulgaria.

Industrial production prices for the domestic and non-domestic markets grew by 47% in April 2022 versus April 2021, but were 1.9% lower compared to March 2022, data from Romania’s statistics board INS showed Thursday.

The perspective of Russian supplies to Europe being halted does not alter the EU’s energy transition agenda; on the contrary, it further underlines the importance of switching to renewable fuels that are not subject to the kind of geopolitical blackmail we are currently witnessing, nor vulnerable to the volatility of the gas market. By Ramona Chiriac, […]

Just as the global economy started to move steadily towards recovery from the covid-19 pandemic, there was another major systemic shock. Russia’s invasion of Ukraine marked a tectonic shift in geopolitical risk levels. Beyond triggering a horrific humanitarian crisis in Eastern Europe, the economic effects of the conflict and the associated sanctions will be felt […]