Romania Feed

Romanian property restitution fund Fondul Proprietatea (FP.RO) plans to buy back 325 million own shares, the equivalent of 5.1% of the share capital, at a price of RON2.19 per share, between May 18 and June 24, 2022, as per a tender document approved by the financial supervisory authority ASF and published on the capital market.

Tobacco company Philip Morris International (PMI) on Wednesday said the sales of Philip Morris products on the Romanian market generated RON1.9 billion in excise taxes and RON0.6 billion in value-added tax (VAT), in 2020.

Learning platform Adservio, developed by entrepreneur Alexandru Holicov from Iasi, has raised an investment of EUR2 million from Catalyst Romania Fund II, one of the leading venture capital funds in the region and the funds will be used to scale the business and expand on other markets in Europe.

The number of metro passengers grew by 53% year-over-year in the first three months of 2022, with March seeing a record high of the last two years as pandemic-related restrictions were lifted, which shows a gradual resumption of activity in Bucharest-based office buildings, as per a report by real estate consulting firm Cushman & Wakefield Echinox based on data from Bucharest underground system operator Metrorex.

Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), has recently completed a USD$4.2 million investment in the modernization of the Vacuum Distillation Plant (DV) within the Vega Ploiesti refinery, the company said in a stock market report on Wednesday.

First Bank (the former Piraeus Bank), held by American private equity investment firm J.C. Flowers, on Wednesday said it recorded a net profit of RON57.1 million for 2021, significantly higher than the level reported in 2020, and operating revenues of RON354 million, up 7% from 2020.

Revolut, the global financial superapp with over 18 million customers, has appointed Aleksej Koscejev as Head of Growth CEE. Koscejev will be based in the Berlin office, where he will be responsible for growth activities in the CEE region.   Aleksej Koscejev has many years of experience in marketing. With his expertise, he will scale […]

The number of metro passengers increased by 53% in Q1 2022 compared with the same period of 2021, a record for the last two years being registered in March, once the pandemic related restrictions were lifted, which indicates a gradual resumption of activity in the Bucharest office buildings, according to an analysis performed by the […]

Kané Group specialized in unique hospitality concepts for craftspeople and small producers, has reached a valuation of RON20 million after receiving a financing of RON1.8 million from Autonom Ventures, the investment division founded by brothers Dan and Marius Stefan, the owners of Integrated mobility services provider Autonom Services.

The Deloitte Foundation and World Vision opened a center that will provide educational and recreational activities for Ukrainian children, as well as psychological, legal and occupational counseling for their mothers, located in Tei Student Sports and Cultural Complex in Bucharest.   A second similar center, located in the fifth district of the Capital, is in […]

The employment rate of people with disabilities in Romania is much lower than that of people without disabilities, and well below the average of other European Union countries, according to recent studies.   According to the National Authority for People with Disabilities In Romania, if 74% of people between 20 and 64 years old without […]

RESinvest Conference is now around the corner with only a few days left, and it comes at a historic time —the EU Commission is about to vote on its REPower EU plan, meant to ensure Europe’s energy independence, and thus accelerate solar and wind power development.   Recent events in Ukraine have made it clear […]

Romania has made great strides over the last three decades and has come a long way, with better-than-perceived progress and major potential for further growth still remaining. The growth of Romanian economy and society is the starting point for EY Romania to sum up its active involvement in that progress throughout the 30 years since […]

Stay Fit Gym, the second largest chain of gyms in Romania by the number of fitness centers opened, together with private equity fund Morphosis Capital, announces the setup of an Advisory Board.

Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), recently completed a 4.2 million USD investment in the modernization of the Vacuum Distillation Plant (DV) within the Vega Ploiești refinery. The project will help to improve operational processes and will also have a positive impact in terms of increasing the protection of the […]

UiPath Foundation, an organisation that supports access to quality education for children in vulnerable communities, supports the 15th edition of the international documentary and human rights festival, One World Romania.   As part of the “Adopt a Documentary” program, which this year has reached its eighth edition, the foundation has adopted the film Les enfants […]

Stay Fit Gym, the second largest chain of gyms in Romania, after the number of open centers, together with Morphosis Capital, announces the formation of an Advisory Board composed of three top executives in the Romanian business environment – Vlad Ardeleanu, CEO at Medima Health, Iulian Cîrciumaru, Managing Partner of V7 Capital and Mikael Fredholm, […]

Globalworth, the leading office investor in Central and Eastern Europe (CEE) and the leader of the Romanian office market, announces the signing of a new lease contract for Globalworth Square.   GambIT Digital, a fintech consulting services company, became a tenant of Globalworth Square, the most technologically advanced office building in the Globalworth portfolio. Starting […]

Fintech consulting services company GambIT Digital is relocating its offices to the Globalworth Square building after signing a lease contract for a five-year period, starting September 2022.

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, climbed to 5.37% a year on Wednesday (May 11), higher by 3.07% than 5.21% a year on Tuesday (May 10), as per central bank data.