Romania Feed

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei contracted before May 2019, plunged to 1.59% a year on Monday (Jan 18), after the country's central bank lowered its main monetary policy rate to a new record low of 1.25% a year, from 1.50% a year, starting Jan 18, 2021.

Real estate consulting firm Cushman & Wakefield Echinox was appointed to provide property management services for the Floreasca Park office space project located in the Floreasca – Barbu Vacarescu area in northern Bucharest, the biggest business hub in capital Bucharest.

Turkish-owned real estate developer Opus Land will invest EUR29 million in the Cosmopolis project in 2021, approximately one third more than the investment carried out in 2020, according to SVN Romania, real estate consultant and the project agent.

The new year started with big orders of farm inputs, the budget scenario is optimistic, and growth should reach 20% in 2021, say the officials of integrated agricultural group Rodbun, whose operations include farm input wholesale and grain trade.

Retailer Pepco, the leader of the fashion retail market in Romania by sales, ended 2020 with a sales growth of 4%, mostly because of expansion.

OMV Petrom, the largest energy company in Southeastern Europe, initiated a new offshore drilling campaign in the shallow waters of the Istria block in the Black Sea. The first drilling operations started at the end of December 2020 and the drilling of the second well will start at the beginning of 2021. The investment for this campaign amount to nearly EUR32 million.

Danone, Albalact, FrieslandCampina, Covalact and Fabrica de Lapte Brasov (Olympus) are the top five actors on the yogurt and sour milk product market in Romania, which Euromonitor puts at more than 1 billion lei.

Oveit, the company that brought Live Stream Shopping to Romania, through its own technological solution – Streams.live, opens a round of SAFE financing on SeedBlink, the equity crowdfunding platform. The company aims to attract 400,000 euros from private investors interested in technology, but also from individuals who seek to invest their capital in technology startups […]

Opus Land, one of the most important real estate developers active on the local market, will increase to EUR 29 million its annual investment in the development of Cosmopolis, the largest residential project in Romania after the number of existing facilities. The amount is approximately one third higher compared to the investment undertaken in 2020. […]

Romania’s central bank on Friday (Jan 15) surprisingly lowered its main monetary policy rate to a new record low of 1.25% a year, from 1.50% a year, starting Monday (January 18, 2021).

Romanian property restitution fund Fondul Proprietatea (FP.RO) ended 2020 with a loss of RON103 million and total assets of RON10.3 billion, down 8.6% compared with the end of 2019, per calculations by Ziarul Financiar (ZF) based on data from the NAV (Net Asset Value) monthly report published on the stock market.

Ufuk Tandogan, CEO Garanti BBVA Romania explains the importance of the digitalization process for both the bank he manages and the entire local banking system and highlights the main achievements of the lender in this direction. By Anda Sebesi   How would you describe the importance of digital channels in this uncertain period? Social distancing […]

For many Romanian firms, 2020 was a great time to go further in their global scaling efforts. Four more Romanian tech companies kicked of their internationalisation plans. By Claudiu Vrinceanu   Tailent Just a few months after securing their first investment round from Neogen Capital, Romanian startup Tailent started its international expansion by creating the […]

Tommy Hilfiger, owned by PVH Corp. [NYSE: PVH], announced open applications for the third edition of the Tommy Hilfiger Fashion Frontier Challenge between January 6 and March 8, 2021. The global program aims to support entrepreneurial start-up and scale-up stage businesses that develop solutions that make a positive social impact on the fashion landscape. Since […]

The European Commission said in a press statement on Friday that it approved an investment of over EUR222 million from the Cohesion Fund to upgrade and install drinking water and wastewater infrastructures in the Ilfov County in Romania.

Real estate developer Impact Developer & Contractor will invest EUR690,000 to build a kindergarten in the Boreal Plus residential project it is developing in northern Constanta.

IMPACT Developer & Contractor obtained from the City Hall of Constanța the urbanism certificate for the construction of a kindergarten within the premium compound Boreal Plus, developed in the north of Constanța. The developer’s investment values 690,000 Euros and the construction of the kindergarten aims to increase the quality of life of young families, by […]

Sales of used cars stood at 880,000 units in Romania last year, 380,000 of which imported as such and 500,000 sold and bought on the local market.

Food ordering and delivery platform foodpanda is launching pandamart, its own retail concept where users can order groceries and other essential items with 30-minute delivery.

Metal roofing tile manufacturer Blachotrapez, held by the Polish group by the same name, plans to build a new metal roof tile production facility in Baia Mare. It already has a plant in the same city and one in Ploiesti.