Romania Feed

Sales of fast-moving consumer goods varied a lot from week to week in Romania in the first nine months of the year, depending on the latest developments on the market, the steps taken by the government and the number of Covid-19 cases. Most weeks, however, recorded growth of at least 8%, a Retail Zoom survey shows.

The top 20 hotel companies by revenue, which are based in Bucharest, posted 1.1 billion lei revenue in 2019, Trade Register Office data show.

Iasi-based Electra group, which makes video and audio door intercoms, bets on export and diversification of the product portfolio to keep the business growing.

Bonds issued by real estate leasing and sub-lease company Ready Office Rent (ROR22) will start trading on the market segment dedicated to bonds of the Bucharest stock market's Multilateral Trading System (SMT) Tuesday, Oct 13.

Regional investment fund SIF Moldova (SIF2.RO) has initiated the first stage of a buy-back program in which it seeks to buy maximum 2 million of its own shares in the period October 12-December 31.

Romania's finance ministry on Monday raised 324.7 million lei (EUR66.6 million), versus a RON300 million target, selling bonds maturing in October 2034 at an average yield of 3.93%, central bank data showed.

Romania's finance ministry on Monday raised 675 million lei (EUR138.55 million) selling government bonds maturing in March 2022 at an average yield of 2.9% a year, central bank data showed.

The United States Department of Commerce has determined an anti-dumping tariff of 83.94% on aluminium sheets made by Romania's Alro SA (ALR.RO) applicable immediately, the company said in a statement Monday.

The supervisory board of Romanian state-owned power grid operator Transelectrica (TEL.RO) has extended the mandates of current provisional Directorate members by two months.

BT Capital Partners has been designated as licensed and intermediary consultant with a view to carrying out a public offering of bonds worth maximum EUR3 million, issued by Agroserv Mariuta, the company behind the Laptaria cu Caimac dairy brand, according to shareholders’ decisions published in Romania’s Official Journal.

Romania’s promotion to the Emerging Market status had immediate effects on the Bucharest Stock Exchange, with the total trading value with the shares of companies listed on the Bucharest Stock Exchange (BVB) exceeding half a billion euros in September 2020, over threefold higher (+260%) than in August 2020 or September 2019.

Romania’s modern industrial and logistics space market reached 4.72 million square meters at the end of the first half of 2020, up 5% on the year, accounting for over 9% of the stock of the 17 largest markets in Central and Eastern Europe (CEE), per a Colliers International report, which expects the market to exceed 5 million sqm until the end of 2020.

Most companies (80%) say that adopting remote work is the new norm on the labor market, and over 53% currently have created and implemented arrangement policies in this respect. Of the remainder (47%), more than 50% of companies anticipate that they will refine or implement a remote work arrangement policy by the end of 2020, a PwC global survey shows.

Home appliances wholesaler Marelvi Impex in Radauti, Suceava, posted more than 328.2 million lei (EUR69.3 million) revenue in 2019, about 26% higher than in 2018, ZF has calculated from Finance Ministry data.

A number of 37 deals for 62,500 square meters of office space were signed in the third quarter, an increase of 14% on the year-ago period, real estate consultant Knight Frank says.

Romania's trade balance posted a deficit of EUR11.5 billion in January-August 2020, EUR642 million higher (+10%) compared with the same period in 2019, data from the country's statistics board showed Monday.

Legrand Romania, the subsidiary of France’s Legrand group, a global electrical and digital building infrastructure specialist, ended last year with growth of 6% in revenue to more than 115.7 milion lei (EUR23.7 million), Finance Ministry data show.

Romania's annual inflation rate inched down to 2.5% in September 2020 from 2.7% in August, data from the country's statistics board showed Monday.

The number of new studios delivered in Romania has doubled in the past two years, with 5,528 such homes completed in 2019, 28% more than in 2018. The growth rate was high in 2018, as well, when 4,308 studios were delivered, 61% more than in 2017, National Statistics Institute data centralized by ZF show.

Romania’s central bank has approved the appointment of Pedro Miguel Weiss as independent member of the Supervisory Board of lender Raiffeisen Bank.