Romania Feed

Romania’s central bank has approved the appointment of Mustafa Tiftikcioğlu to the position of CEO of Garanti BBVA Romania.

Shared services centers (SSCs) are increasingly investing in strategic capabilities to create value for parent organizations, as most of them (87%) are focusing on expanding remote working capabilities to ensure business process continuity, 61% are working on accelerating digital agenda, and 59% intend to increase virtual practices, due to the impact of COVID-19 pandemic, according to the 2021 Deloitte Global Shared Services and Outsourcing Survey conducted on over 600 leaders in 45 countries, including Romania, with shared services locations across nearly 75 countries.

The shares of Cluj-based dairy producer Bonas Import Export, held by the Nas family, will start trading on the alternative trading system AeRO of the Bucharest Stock Exchange, under the ticker symbol BONA.

Appraisal & Valuation, the holder of the NAI Romania brand, active on the appraisal market, has raised RON4.4 million following a private stock placement carried out on June 18 and the shares issued are to be listed on the alternative trading system AeRO of the Bucharest Stock Exchange, under the ticker symbol APP.

Romanian state-owned energy utility group Electrica (EL.RO) will organize on August 11 the extraordinary general meeting of shareholders which are expected to approve the establishment of a power generation company called Electrica Producţie Energie SA and organized as a joint stock company, a subsidiary of Electrica.

Expur, one of the largest vegetable oil and biodiesel producers in Romania, has started investment in a cogeneration facility in Slobozia, which will use sunflower seed husks as raw material.

The number of microbreweries in Romania is headed towards 100, after 20 such businesses opened in 2020 and despite the difficult market for small businesses, only three closed.

Barrier, formerly Electric Plus, plans to open eight new franchises under this name by yearend. The company makes PVC window and door trim in Bacau.

The local subsidiary of Sweden’s outdoor power tool manufacturer Husqvarna will open a concept store in Cluj-Napoca by yearend, followed by two more in 2022.

The pet food and related product market in Romania overshot the RON3 billion mark for the first time, gaining 23% in 2020, a year when people spent more time at home and many decided to get a pet.

The top ten companies in Romania with the highest decline in headcount lost almost 9,500 employees in 2020.

Romania's nuclear power producer Nuclearelectrica (SNN.RO) said Friday in a stock market report that it concluded a contract worth RON283 million with CEZ Vanzare, an electricity supplier in southeast Romania, for the sale of electricity between January and December 2022.

Bogdan Chiritoiu on Friday received a favorable opinion from President Klaus Iohannis for a mandate of five more years as President of Romania’s Competition Council.

Romanian gas producer Romgaz announced Friday it has secured a four-month exclusivity agreement with US ExxonMobil for negotiations over the acquisition of Exxon's stake in Neptun Deep offshore block in the Black Sea.

Skanska's sale of buildings 6.2 and 6.3 within the Campus 6 office complex in Bucharest to Austrian real estate fund S Immo AG was completed in June 2021 upon the transfer of property rights, law firm PeliPartners announced Friday.

Transport Trade Services (TTS.RO), Romania's biggest freight transporter on the Danube which went public last week, reported a net profit of RON15 million in the first quarter, up 37% on the year.

Spanish on-demand delivery platform Glovo has acquired Delivery Hero’s operations in six European countries for EUR170 million, in a multi-jurisdictional assisted by law firm Wolf Theiss.

Registrations of new commercial utility vehicles, from 3.5-ton ones to heavy trucks rose almost 30% to 9,500 units in the first five months, data from Romania’s Automotive Manufacturers and Importers Association (APIA) show.

City Grill, one of the leading actors on the restaurant market in Romania, has bought minority stakes (49%) in two restaurant businesses – Maison des Crepes and Aubergine, in a EUR1 million investment.

Raiffeisen Leasing, part of Raiffeisen Group in Romania, said the value of financed goods reached RON377 million at the end of 2020, down 44.8% from 2019, per data from Raiffeisen Leasing representatives.