Romania Feed

Romania's unemployment rate reached 5.2% in the third quarter of 2020, lower by 0.2 percentage points than the level reported in the previous quarter, data from the country's statistics board showed Tuesday.

E.ON Energie Romania will build a power plant of EUR4 million for mineral fertilizers manufacturer Azomures; the project will start in the spring of 2021.

Perfume and cosmetics retailer Douglas, which arrived in Romania in 2007, has grown to 33 stores in the country after having opened three new stores this year.

Foreign fast moving consumer goods industry giants, which are among the largest manufacturers of cosmetics, sweets and beverages in the world make 5.4 billion lei revenue in Romania without investing in plants.

Dental clinic chain Dent Estet, the largest player on the local dental services market, part of MedLife Group, has acquired the majority stake in KronDent clinic in Brasov.

Romania's economic recovery will be asymmetrical, as some sectors will grow and others will continue to struggle and over 60% of companies estimate will match their 2019 turnover in 2022, the 2020 Moneycorp Barometer showed Monday.

The alternative IT education market amounts to approximately EUR8 million and it may grow by 15% in 2021, an evolution backed by changes on the labor market, an acute shortage of experts in the field and the accelerated digitalization of most industries against the backdrop of COVID-19 pandemic, per estimates of the informal IT School, launched in 2013 by the Initiative Group for Informal Education.

Romania's finance ministry on Monday raised 979.4 million lei (EUR201.2 million) selling treasury bonds maturing in January 2028 at an average yield of 2.88%, central bank data showed.

Romania's state-owned postal operator Posta Romana has concluded a partnership with money transfer company Ria Money Transfer.

The European Bank for Reconstruction and Development (EBRD) and the International Cooperation and Development Fund (TaiwanICDF) are providing financing of up to EUR15 million to UniCredit Consumer Financing (UCFIN) to support residential energy efficiency improvements.

Transavia, the largest poultry producer in Romania, gets 20% of its revenue from exports, its 2019 sustainability report shows.

Low-cost airline Blue Air suspends all flights to and from the United Kingdom starting with the 21st of December 2020 (7 p.m.) until January 2, 2021, following the Romanian Government’s decision of December 20, 2020.

Romania’s insurance market registered underwritten gross premiums of over RON8.5 billion in January-September 2020, approximately 4.8% higher than the level reported in the same period in 2019, data from the Financial Supervisory Authority (ASF) showed Monday.

German-held discount store chain Penny has opened 20 stores this year without closing any in Romania. The company expanded at the same pace it announced a while ago and will continue do so in the coming years.

Electrica Furnizare S.A., part of state-owned utility group Electrica (EL.RO), said Friday in a stock market announcement that its shareholders have recently decided to establish a branch in the Republic of Moldova, in capital Chisinau.

Austrian Leier group announced its two Romanian brick manufacturing companies, Brikston Construction Solutions and Siceram, will merge as of January 1, 2021.

Paper manufacturer Pehart Tec Group held by private equity firm Abris Capital, will get a EUR51 million syndicated loan and plans to use some of it for the development of its plants in Petresti (Alba) and Dej (Cluj).

The year 2020 should have been better than 2019 for Cristian Erbasu’s businesses but the pandemic forced companies in the construction, agriculture and hotel sector to rethink their plans.

Sales of non-food retailers returned to the level before the crisis generated by the Covid-19 pandemic in Central and Eastern Europe (CEE), growing on average 4%, considering that consumption habits have changed in 2020 and sales have a different structure compared with the situation in 2019, per the report “ExCEEding Borders. Retail during the pandemic across the CEE-17 region,” released by Colliers International.

Cash & carry chain Selgros, which owns 23 stores in Romania, has recently opened a logistics platform of 10,000 square meters in Chiajna locality (on Bucharest ring road), whereby it will improve the efficiency of its supply chain.