Romania Feed

Garden Inn Bucharest Airport Hotel, controlled by Lithuania’s Apex Alliance, in July posted a 70% occupancy rate, with demand on an upward trend in recent months.

Poland’s Solaris Bus & Coach, one of the largest public transportation electric vehicle manufacturers, has completed delivery of 16 electric buses to Craiova and of three trolleybuses to Medias, following contracts signed with the two municipalities in 2020.

Belgian-held developer Speedwell has started work on the second building of residential project The Ivy on Strada Jandarmeriei in northern Bucharest.

BRK Financial Group (BRK.RO) said in a stock market report Tuesday that, starting August 25, 2021, it will benefit from the Issuer's Market Maker (IMM) services provided by Wood & Company Financial Services, a top ten brokerage firm on the local stock market.

Deloitte Romania expands its management team by promoting four employees to the position of directors in the risk advisory, tax advisory, financial advisory and audit and assurance practices, following their contribution and commitment to serving clients and developing their teams.

Bankata.ro, an independent and digital platform providing complete financial product aggregation services, has received a financing of EUR180,000 for the development and implementation of its business plan.

Brick Romania, a local DIY and home improvement retailer based in Constanta, will be developing a network of regional centers to ensure supply to small localities.

Simtel Team (SMTL.RO), a Romanian engineering and technology company, has built for Kaufland Romania, one of the largest retail companies in Europe, two power plants which entailed the installation of over 1,300 photovoltaic (solar) panels.

Romanian oilfield equipment maker Upet Targoviste (UPET.RO) has signed an intermediation contract with real estate consulting firms Colliers and Jones Lang LaSalle (JLL) with a view to finding potential buyers for its factory, as it looks into the possibility of relocating production.

Electroaparataj Targoviste, a maker of electrical equipment and electrotechnical accessories, ended the first half of 2021 with net losses of RON415,425, compared with net profit worth RON711,115 in the same period of last year, amid turnover of RON4.5 million, down 42.9%, according to ZF calculations based on the first-half report the company filed with the BSE.

Private lending grew by 2.1% in nominal terms and 1.1% in real terms to RON306.590 billion in July 2021 compared with June 2021, central bank data showed Tuesday.

Holde Agri Invest, a Romanian company operating farmland, said in a stock market report Tuesday that it finalized the acquisition of Agrocom Exim Prod SRL and the full integration of the Videle farm into its structure. The transaction amounts to RON14.3 million for 2,400 hectares of land under lease.

Deloitte Romania strengthens its management team by promoting four employees to the position of directors in the risk advisory, tax, financial advisory and audit and assurance practices, following their contribution and commitment to serving clients and to developing their teams. Andrada Tanase has been promoted to Director in the Risk Advisory practice, Monica Tariuc has been named a Global Employer Services Director within the Tax practice, Vlad Balan has been appointed Financial Advisory Director, and Ion Efros, Audit and Assurance Director, effective September 1, 2021.

Sphera Franchise Group (SFG.RO), the franchise operator of KFC, Pizza Hut and Taco Bell restaurants in Romania, will benefit from the Issuer's Market Maker (IMM) services provided by BRK Financial Group (BRK), starting August 24, 2021, in order to increase the liquidity of shares traded on the Bucharest Stock Exchange.

Romanian software development company Softbinator Technologies wants to list its shares on the alternative trading system AeRO of the Bucharest Stock Exchange, under the ticker symbol CODE, until the end of 2021.

The number of workers in constructions, an industry pummeled by labour shortages in recent years, last year went beyond the 400,000 threshold, reaching over 416,000 people, in line with data included in the balance sheets of companies that filed 2020 reports.

Bihor-based farm input provider Agroind Cauaceu, a business founded by Corbut family, ended 2020 with turnover worth RON464 million (around EUR95 million), up 6.5% from 2019, data from financial analysis platform Confidas.ro show.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, grew to 1.6% a year on Monday (August 23).

Agricultural cooperative Cooperativa agricola integrata Tara Mea, headquartered in Vaslui and having over 1,000 farmers as members, this August signed a partnership with French-Belgian retailer Cora to sell its products in its Romanian store network, according to the cooperative’s representatives.

Antonio Nitu, general manager of travel agency Aerotravel, says he noticed rising demand for business travel, with Romanian small and medium-sized companies starting asking for both outbound and inbound travel packages for their employees again.