Romania Feed

The European Commission (EC) has approved a Romanian scheme worth EUR100 million to support the regeneration of damaged forests and the scheme will be funded through the Recovery and Resilience Facility (RRF).

The data center built near Craiova (southern Romania) by Cluster Power with the help of Tema Energy’s engineering team has officially achieved the Tier III Design certification from the US Uptime Institute.

The global Great Resignation phenomenon will continue next year with even more pressure on wage growth. In Romania, 40% of employees plan to ask for a pay raise over the next year and 16% want to change employers, according to the results for Romania of the PwC Workforce Hopes and Fears global survey released on May 24.

An International Monetary Fund (IMF) team headed by Jan Kees Martijn, the IMF mission chief for Romania, will visit Bucharest between May 30 and June 10 to undertake the periodic review of Romania's economy, known as the Article IV consultation, as per an announcement by Nadeem Ilahi, IMF Senior Regional Representative for Central, Eastern and South-Eastern Europe.

NEPI Residential, the residential division of NEPI Rockcastle, on Wednesday said it sold 35% of the apartments of the Vulcan Residence complex, only seven months from the start of construction works.

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, increased to 5.90% a year on Wednesday (May 25) from 5.83% on Tuesday (May 24), as per central bank data.

Promateris (PPL.RO), a Romanian industrial group and the main producer of biodegradable packaging in CEE, announced it obtained a new grant from the part of EEA & Norway Grants within the project Green Energy Production for the manufacturing of bio-based and compostable packaging, developed in partnership with Norway’s Norsk Energi.

Agroland Agribusness (AAB.RO), a Romanian entrepreneurial business, part of Agroland group, specializing in the sale of farming inputs, ended the first quarter of this year with operating revenue worth RON15.9 million, up 86% from the same period of last year, RON1.5 million EBITDA, up 201%, and net profit worth RON0.84 million, 110% higher than in 1Q/2021.

Freight carrier World Mediatrans of Timis, one of the most dynamic companies in this field, founded in 1997 by Gabriel Lungu, with 23 offices locally and logistic warehouses in Budapest, Barcelona and Bratislava, ended the first three months of this year with 15% higher turnover than in the corresponding period of last year.

Duvenbeck Logistik, one of the largest transport and logistic companies in Romania, for 2021 reported turnover worth RON366.5 million (EUR74.5 million), up 12.4% year-on-year, in line with ZF calculations based on Finance Ministry data.

Grain trader Promat Comimpex of Tasnad, Satu Mare, controlled by Swiss group Ameropa and by entrepreneur Cristian Moldovan, in 2021 generated net profit worth RON43.3 million (EUR8.8 million), up 31% from the previous year.

Bookstore chain Carturesti, controlled by Nicoleta Dumitru and Serban Radu, in the first quarter of 2022 saw sales rise by 20% from the same period of last year.

Farmaciile Myosotis, one of the strongest regional pharmacy brands, reached turnover worth RON243 million (EUR49 million) in 2021, up 9% from 2020.

Nuclear power producer Nuclearelectrica (SNN.RO), small modular nuclear reactor (SMR) technology provider NuScale and the E-Infra group of companies on Tuesday signed a memorandum of understanding for the development of the first SMR reactor in Romania on the site of the former Doicesti thermal power plant, in Dambovita County.

Farmec, one of the largest Romanian companies, is investing EUR500,000 in the relaunch of its brand of the same name and the funds will go towards research, design and communication.

Romania's public debt will be nearing 73% of GDP within ten years, in 2032, under the baseline scenario, from just above 50% of GDP currently, as per the debt sustainability analysis carried out by the European Commission in the Semester Report on the country's economy.

Austria’s Uniqa Group, which owns in Romania general insurance division Uniqa Asigurari and life insurance division Uniqa Asigurari de Viata, ended the first three months of 2022 with gross underwritings of EUR27 million, up 7% from the same period in 2021, in line with data provided by Uniqa representatives.

Today Enel published the new website dedicated to Integrated Reporting 2021 “Towards stakeholder capitalism”, a digital platform which the Group uses to illustrate, in an innovative and integrated way, its vision, 2021 performance, medium- and long-term prospects, strategy and sustainable business model.  This concept is inspired by “Stakeholder Capitalism” aimed at highlighting the sustainable value […]

Junior Achievement Romania, in partnership with Nestlé Romania, continues the professional development program “Your professional success”. Within this project, the two partners carry out a series of learning by doing activities. In May, Nestlé volunteers met virtually with more than 170 students from 10 counties.   The theme of the webinar held by the volunteers […]

Romania’s natural gas transmission company Transgaz (TGN.RO) on Tuesday said it concluded a roadmap agreement with The Three Seas Initiative Investment Fund S.A. SICAV-RAIF (3SIIF), a dedicated commercial fund targeting infrastructure investments in Central and Eastern Europe, to collaborate on the construction of planned greenfield gas infrastructure in Romania.