Romania Feed

Prebet Aiud (PREB.RO), a manufacturer of precast products made of reinforced and prestressed concrete, said in a stock market report that Anodin Assets, a company almost entirely held by Ileana Motoc, has increased its holding in Prebet by 5.5%, reaching an ownership of 21.64% of Prebet’s share capital.

Insurance companies in Romania underwrote gross premiums of RON5.6 billion in the first half of 2020, up 3.4% from the same period in 2019, due exclusively to the positive evolution in the first quarter of the year, which saw the biggest value of the past years (RON2.95 billion) per data from the country’s Financial Supervisory Authority (ASF).

NN Pensii, the manager of the largest private pension fund on the Romanian mandatory segment known as Pillar II, had investments worth a total RON4.1 billion in 15 companies listed on the Bucharest Stock Exchange, on June 30, 2020, per ZF’s aggregate data from the half-year financial report.

Romania's financial supervisory authority has fined insurer Euroins Romania a total of over RON2 million for irregularities found at a check-up conducted in July-September.

Romania's finance ministry on Thursday raised a little over 1 billion lei (EUR215 million), above its RON700 million target, selling bonds maturing in July 2025 at an average yield of 3.22%, central bank data showed.

Global Vision and Globalworth are renting out to PepsiCo a part of the first logistics unit delivered within the Constanta Business Park – the latest project with multiple functions in the region of Constanta, which was developed on a 100-hectare land.

Dental clinic chain Dr. Leahu, the second largest player on the local dental services market, reported a loss of RON1.8 million in January-June 2020, compared with a net result of RON3 million in the same period in 2019, and total revenue of RON21.7 million, down 2.4% on the year.

Romania's foreign exchange reserves dropped to EUR32.588 billion at the end of September from EUR35.768 billion at the end of August, central bank data showed Thursday.

BCR, BRD-SocGen and Raiffeisen Bank Romania have completed the transaction whereby they hold an equal stake of 33.(3)% each in CIT One, one of the largest local integrated services for the transport, processing and storage of cash and other valuables in Romania.

Construction material producer TeraPlast Bistrita (TRP.RO) has requested state aid of nearly EUR4 million to finance an investment project totaling EUR7.9 million in enhancing production capacity.

Stationery and office equipment importer and wholesaler Dacris, held by the Fati family, has relocated to a new space, of 4,000 square meters, within the Logicor Mogosoaia logistics park, where it will concentrate its storage, logistics and office activity.

Shares of Holde Agri Invest, a Romanian company operating farmland, started trading Thursday on the the AeRO market of the Bucharest stock exchange under the ticker symbol HAI.

Romania's antitrust body on Thursday cleared the deal whereby oil and gas company OMV Petrom (SNP.RO) seeks to outsource operations and services to J. Christof E&P Services SRL and Christof Private Firefighting Services SRL.

Textile manufacturer Iasitex Iasi (IASX.RO), held by businessman Stefan Vuza, ended the first half of 2020 with a net profit of RON360,000 obtained from the sale of existing stock, considering that the textile factory was closed in 2019.

Gross wages in private companies in Romania increased by an average of 6.79% in the first half of 2020, according to PayWell 2020 survey on salaries and benefits conducted by PwC Romania.

The European Bank for Reconstruction and Development (EBRD) on Thursday anticipated a deeper economic contraction and a milder recovery in 2021 for the emerging economies where it invests, including Romania for which it forecasts a 5% contraction of the gross domestic product (GDP) in 2020 and a 3% economic growth in 2021.

Banks in Central and Eastern Europe expect new loan disbursements to rebound in 2021, supported by regulatory measures aiming to sustain the lending activity, after a significant year-on-year decrease in 2020, according to COVID-19 CEE banking sector impact survey, conducted by Deloitte in 12 countries in the region, including Romania. The loan demand decreased in the second quarter of 2020 in sectors such as hospitality, transport and storage, real estate and construction, as well as manufacturing. On the other hand, sectors such as wholesale and retail trade and agriculture saw an increase in the demand for loans, according to the survey.

Romania's seasonally adjusted unemployment rate inched down to 5.3% in August from 5.4% in July, data from the country's statistics board showed Thursday.

E.ON Gaz Furnizare and E.ON Energie Romania, the natural gas and electricity suppliers of German utility E.ON Group in Romania, on Thursday said they are involved in a process of merger through absorption.

Lender Patria Bank (PBK.RO) has decided on the early closing of the Offer for the sale of euro-denominated bonds, Wednesday evening, on September 30, 2020.