Romania Feed

Romania's finance ministry on Monday raised 1 billion lei (EUR205.37 million), versus its RON700 million target, selling bonds maturing in November 2024 at an average yield of 2.6%, central bank data showed.

Romania's foreign exchange reserves grew to EUR37.379 billion at the end of December from EUR33.393 billion at the end of November, central bank data showed Monday.

New car registrations in Romania decreased 21.79% in 2020, to 126,351 units, compared with 161,562 units in 2019, data from the European Automobile Manufacturers Association (ACEA) and the association of automotive manufacturers in Romania (ACAROM) showed Monday.

Insolvencies, the harshest index for companies after the 2008 economic crisis, reached the lowest level of the past decade, at the end of 2020, with only 5,600 firms filing for insolvency, 10% fewer compared with 2019, according to Ziarul Financiar (ZF).

Romania’s economy should grow by 4%, recouping only part of the 2020 loss, but the trend is up to many unknowns – first of which the rate of vaccination against COVID-19. Judging by how it started, an average of 1,500 people per day, it would take decades to achieve the 60-70% of the population targeted by authorities.

Romanian state-owned energy utility group Electrica (EL.RO) has announced the completion of the first stage of the merger by absorption of the three electricity distribution companies within the Group, which, became Distributie Energie Electrica Romania SA (DEER), starting January 1, 2021.

Romania’s electricity market will be liberalized starting January 1, 2021, which means that electricity supply prices for household consumers will no longer be regulated by the country’s energy regulator ANRE.

Romania’s banking system, 34 lenders in all, registered a net profit of nearly RON4.5 billion in January-September 2020, down over 10% compared with 2019, central bank preliminary data show.

German-held Kaufland group, the leader of the local grocery retail, opened 10 hypermarkets in 2020, its fastest expansion pace in the last few years, for a total of 138.

Real estate developer Impact Developer&Contractor, as beneficiary, has concluded two contracts worth EUR18.4 million with Electrogrup, as general contractor, for the construction of a residential complex in capital Bucharest.

The processing industry lost 63,400 employees in October 2019 – October 2020, going from 1,149,200 people to 1,085,800, National Statistics Institute data show

Energy drinks market continued to grow in Romania in 2020, amid rising appetite of consumes for such drinks. Consumption of energy drinks stood at more than 35 million liters or about 1.8 liters per capita last year, 40% higher than in 2015, for instance.

Insurers in Romania recorded some 16.2 million policies at the end of the first nine months of 2020, 4% more than in the same period in 2019, data from Romania's financial watchdog ASF showed Tuesday.

Office space remains the main attraction in real estate in Romania. The modern office space stock in the country has doubled from 1.5 million to almost 3 million square meters in the past decade, rents have remained relatively stable, dropping slightly from EUR19.5/square meter in 2011 to EUR18.75/square meter in 2020, while yields shrank from 8.25% to 7%, real estate consultant CBRE data show.

Romania's general consolidated budget posted a deficit of RON84.05 billion, or 8% of the gross domestic product (GDP), in the first eleven months of 2020, considering that RON43.66 billion (4.16% of GDP) was pumped into the economy via tax facilities and incentives, investments and exceptional costs for the fight against the COVID-19 pandemic, finance ministry data showed Tuesday.

German DKV Group has acquired Arad-based Smart Diesel, the largest private filling station operator in Romania, founded by Romanian entrepreneurs Ovidiu Andries and Daniel Imbre.

Polish fashion brand Sinsay, part of LPP Fashion Group, has opened a mono-brand store in Botosani, within the Uvertura Mall shopping center, reaching a 25-unit network in Romania.

The year 2020 brought a profound change to the Romanian business environment due to the spread of the Covid-19 virus, so that the business strategies of the companies were adapted to the new context. Magurele Science Park has developed a series of new collaborative projects in the area of ​​business relations and education programs.   […]

OMV Petrom (SNP.RO), the biggest oil and gas company in Southeast Europe has signed the transaction for the sale of its 100% shareholding in Kom-Munai LLP (KOM) and Tasbulat Oil Corporation LLP (TOC) in Kazakhstan to Magnetic Oil Limited.

TeraPlast Group received the financing agreement for the project “Establishment of a new production unit for TeraPlast SA”; the project is worth EUR10 million in total and the state aid represents EUR4.9 million, the company said in a stock market report.