Romania Feed

Pavel, Margarit and Associates Romanian Law Firm assisted a major company in the energy industry, part of a well-known group with a high reputation on the international market, in an insolvency case following an abusive request of a business partner for opening the insolvency procedure.   This request was, in fact, a way of forcing […]

OTP Bank Romania registered a loss of RON24 million in the first quarter of 2022, predominantly impacted by risk costs, according to the report published in Budapest, which presents the consolidated results adjusted in accordance with the Group’s standards.

The Board of Directors of Electrica SA revoked Georgeta Corina Popescu from the position of Chief Executive Officer, without cause, starting with 16 May 2022, this being the last day when the mandate contract takes effect.   “The Board of Directors thanks Mrs. Corina Popescu for her activity, for the significant changes she drove within Electrica Group, […]

OTP Group announces the financial results for the first three months of 2022. According to the report published in Budapest, which presents the consolidated results adjusted in accordance with the Group´s standards, OTP Bank Romania has registered a RON 24 million loss during the first quarter of 2022, predominantly shaped by risk costs.   Operating […]

On Equal Opportunities Day, FREE NOW, the European Mobility Super App offering taxi and ridesharing services in Romania, supports both diversity and inclusion, as well as safe mobility for all passengers, regardless of gender. In addition, the company announces that Stella Penso has been appointed FREE NOW’s new Chief Marketing Officer (CMO) from 1 April […]

The European Union’s national promotional banks and institutions and the European Investment Bank have today launched the EUR 2 billion Quick Response — Care for Ukrainian Refugees in Europe initiative. The joint initiative aims to provide immediate relief this year for refugees fleeing the war in Ukraine and promote the rapid and humane integration of Ukrainian […]

Blue Air reports 180% more passengers transported vs last year and also 22% more passengers to/from Romania have travelled with the airline in April 2022 versus pre-pandemic 2019. The company expects rising fuel prices to impact demand during summer travel and is encouraging passengers to book their summer holidays early.   Blue Air carried 236,000 passengers […]

Law firm Filip & Company assisted Medicover, one of the largest private healthcare providers in Romania, in the acquisition of Laurus Medical, which owns a network specializing in niche medical services covering proctology and venous system disorders.

On the occasion of  Youth Day, the Youth Council of Romania, PONT Group, the Youth Federation of Cluj and the Romanian Commercial Bank (BCR), as members of the Governance of the “Youth Capital of Romania” Program, presented the study “Young people after the pandemic: Happy Cities” and “Young people at home” analysis.   They highlight […]

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 5.20% a year on Friday (May 6) from 5.16% on Thursday (May 5), as per central bank data.

Romanian deep-tech startup Humans.ai and its SaaS synthetic video production platform Tovid.ai are partnering with Booming Jobs, the fastest growing career platform in the Netherlands which will use Humans.ai’s artificial intelligence and innovative synthetic media technology within the recruiting process.   “We are excited to announce Tovid.ai’s partnership with Booming Jobs, as we continue to […]

Law firm Filip & Company assists Medicover, one of the largest private healthcare providers in Romania, in the acquisition of Laurus Medical S.R.L., which owns a network specializing in niche medical services covering proctology and venous system disorders.   The transaction was signed on Thursday 28 April and is still subject to obtaining clearance from […]

Amazon Development Center, the development center US giant Amazon owns in Romania, with offices in Bucharest, Iasi and Timisoara, in 2021 posted turnover worth RON555 million (EUR112.9 million), up 20% on the year.

US Apple and South Korea’s Samsung, two companies with high ambitions on the wearable gadget market, in 2021 suffered a surprising defeat by China’s Huawei, which managed to grab around a quarter of the market, by the number of delivered units, market sources told ZF.

Car parts producer Optibelt Power Transmission of Tautii-Magheraus locality, Maramures county, the local subsidiary of Germany’s Arntz Optibelt, projects EUR70.4 million turnover for this year, up 12% from 2021, in line with ZF calculations based on company data.

Fashion retailer H&M, which owns in Romania the brand of the same name and premium brand COS, in 2021 generated turnover of almost RON850 million in Romania, up 25% from the previous year.

Hotel company THR Marea Neagra, which manages 11 seaside hotels and several restaurants, doubled its turnover in 2021 against 2020.

Promed System, which controls two Wellborn hospitals in Bucharest, including in vitro fertilization centers, will open, in June, a maternity with two surgery halls and a third fertilization center in Targoviste next year,

Electrica (EL.RO) the largest actor on the electricity distribution and supply market in Romania, on Thursday night announced Corina Georgescu had been revoked from her position as chief executive officer. The interim CEO is Alexandru Chirita, data protection manager of Hidroelectrica, according to his LinkedIn profile.

The leasing activity of industrial and logistics spaces in Romania increased by 50% in the first quarter of 2022 versus the year-earlier period, exceeding the 300,000 square meter threshold and creating the premises for a new record year in terms of demand for this type of spaces, according to real estate consulting firm Cushman & Wakefield Echinox.