Romania Feed

A multi-disciplinary team made of experts from Deloitte Romania’s Financial Advisory practice and from Reff & Associates | Deloitte Legal provided assistance to Chimcomplex in obtaining the EUR 90 million funding for refinancing existing loans and for investment. The chemicals producer borrowed EUR 26.7 million from CEC Bank and EUR 30 million from Alpha Bank on September 30, 2021, which the company will use for fully refinancing existing loans from VTB and Credit Suisse/Argentum Netherlands BV, for the takeover of Oltchim assets, and for continuing development projects. The EUR 56.7 million amount will be supplemented by a EUR 33.3 million loan from CEC Bank, which will be contracted in October 2021, totalling EUR 90 million.

DB Schenker, a global provider of transport and logistics services, is set to open a new cross-dock terminal in Tetarom III industrial park, Jucu-Herghelie, 15 km away from Cluj-Napoca (northwestern Romania), in early 2022.

Book market players strove in 2020 to keep the market from plummeting and adjustment to the new context and the new reality of online sales brought a mere 7% market decline, compared with a 20% drop forecast at the pandemic onset, explained Laura Teposu, founder of online bookstore Libris.

Siemens Energy, the energy solutions giant spun off from Germany’s group Siemens, turns Romania's capital city Bucharest into its biggest recruitment center globally.

Farm and forestry equipment manufacturer IRUM, held by the Oltean family in Reghin, has invested over EUR7 million in retrofitting works and has launched a new forestry machine model, called TAF 690 S5, intended for the Romanian market and for the European and American markets.

Low-cost airline Wizz Air on Monday said it would operate flights on a new route, from capital Bucharest to Aqaba (Jordan), starting December 2021.

Bucharest-based Hagag H Victoriei 109 building will host the future headquarters of the European Cybersecurity Competence Center (ECCC), according to real estate data.

Romania's finance ministry on Monday rejected all bids for two treasury bonds worth a total RON900 million (EUR181.9 million) maturing in October 2034 and November 2024, respectively, central bank data showed.

Tens of thousands of users started reporting issues with social media platforms Facebook, Instagram and Whatsapp (which are also owned by Facebook), starting with 18:43 (GMT +3) this evening, reports DownDectector.com. Other platforms such as AT&T, Google, or Amazon, are also experiencing issues around the world, according to the same source.   “We’re aware that […]

Continuing its successful track record, the international media group Antenna, with investments and operations in North America, Europe and Australia, has agreed with Sony Pictures Television to acquire the CEE AXN, Sony and Viasat Pay TV channels and On Demand services as part of a major investment in the region.    The multi-territory, multi-channel deal […]

Scandinavian furniture and home décor retailer JYSK is continuing its expansion in Romania by opening a new store, in the city of Pitesti, on October 7, reaching a 107-unit network.

Enrico Perini, the majority shareholder of Romstal Group, is providing EUR100,000 financing to Romanian startup Sypher within a financing round on crowdfunding platform SeedBlink, at the end of which Sypher aims to raise EUR550,000.

Green Resources Management, an organization that implements the extended responsibility of packaging waste producers (OIREPs) and is part of recycling group Green Group, has announced the appointment of Constantin Bratu to the position of general manager, effective October 1, 2021.

The Bucharest Stock Exchange (BVB) will have a new brand identity starting October 2021. Its new identity aims to reposition the brand as a suitable choice for the investments of each Romanian and a catalyst for the development of companies in Romania.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, continued its upward trend and surged to 1.81% a year on Monday (October 4), from 1.79% a year on Friday (October 1).

KPMG in Romania on Monday announced two new appointments through internal promotions at management level, and a new hire. Starting October 1, 2021, Daniel Pana has become a Partner in Tax, Victor Iancu was promoted to Associate Partner in Advisory and Inga Tigai joined KPMG as a new hire in Tax, also as an Associate Partner.

Business Review talked to Virgil Stanescu, the Executive Director of CEO Clubs Romania and President of Sports HUB, to find out more about Romania’s former captain of the National Basketball Team, his transition from sports to business, his thoughts on leadership, performance mentality, digitalization in sports, and more; all of which you can read below […]

For many people, the idea of going solar seems like a big investment that may or may not pay off. However, it’s important to understand that this is actually an investment in your future. Going solar offers a way for you to save money and live greener at the same time! Read this article to […]

2Performant (2P.RO), the main player on the Romanian affiliate marketing market, listed on the AeRO market of the Bucharest Stock Exchange, will grant the company’s shareholders registered on October 28, four free shares for one share held, through a share capital increase by RON495,970.4, which corresponds to a total 4,959,704 new shares with a nominal value of RON0.1 per share.

The European Bank for Reconstruction and Development (EBRD) and Aquila, the market leader in consumer goods distribution and logistics, announced that they agreed on the terms of a loan of 5 million Euros and an EBRD option to buy shares of up to 5 million euros from the founders of Aquila, at a pre-agreed price. […]