Romania Feed

Romania's transport ministry and subway company Metrorex have signed a financing contract for a 14.2 kilometer subway line linking the existing underground network to Bucharest's international airport.

Construction material producer TeraPlast Group (TRP.RO) has requested state aid of around EUR5.8 million for a project totaling nearly EUR12 million within a state aid scheme aiming to stimulate investments with high economic impact.

Deloitte Romania launches Digital DNA, a solution for assessing companies’ level of digital maturity based on 23 characteristics that define their structure, operations and behavior. Digital DNA addresses mainly SMEs and can be a starting point in setting the digital transformation strategy. The solution is based on a methodology created by Deloitte’s global network of experts based on extensive research conducted by analysing hundreds of studies and articles in the field.

Retail sales in Romania grew 0.4% on the month in September and 1.7% when adjusted for seasonality and number of working days, as sales of non-food items grew 5.3%, fuel sales dropped 3.1% and food sales dropped 3%, data from the country’s statistics institute showed Thursday.

Bacau-based PVC trim, window rolling shades and garage door manufacturer Electric Plus now has 43 franchised Barrier stores in Romania, after having closed two in the past month. It is also due to close the franchised store in Sibiu, as well, soon.

BRD Groupe Societe Generale (BRD.RO), the third largest bank in Romania by assets, on Thursday reported a net profit of RON719 million, for the first nine months of 202, down 43% on the year.

Romania’s banking system, the main lender of Romania’s economy, posted almost 4.5 billion lei net profit in the first eight months, while lending increased by 5.4% on average, Romania’s central bank data show.

Intesa Sanpaolo Romania, the local subsidiary of Italian Intesa Sanpaolo Group, reported a net profit of EUR4 million in January-September 2020, fourfold lower than ERU17 million in the same period in 2019, per data released by the parent bank in Italy.

Romania’s Financial Supervisory Authority (ASF) has approved the public offering document for the repurchase of shares and/or global depositary receipts (GDRs), with investment fund Fondul Proprietatea (FP.RO) seeking to buy 165 million own shares at RON1.39 per unit.

Romania's state-owned natural gas producer Romgaz Medias (SNG.RO) on Wednesday said the Ministry of Economy, Energy and Business Environment transferred RON115 million for investments in the company’s electric power plant in Iernut.

Audit and consultancy company KPMG Romania has appointed four new directors in Audit, Tax & Legal, and Advisory. Starting November 1, 2020, Adina Banici and Alexandru Chirigiu have become Associate Directors in Tax & Legal, while Lorena Voicu has been appointed Director in Audit and Gheorghe Vlad Director in Advisory.

The number of real estate deals in Romania stood at 83,675 in October 2020, 35.107 more than in September 2020, and 25,341 more than in October 2019, according to the national cadaster agency ANCPI.

German-held discount grocery retailer Lidl is opening a new store in Alba Iulia, central Romania, reaching 280 stores on the local market.

Romanian coffee shop chain 5 to go, founded in 2015 by two local entrepreneurs, has continued expanding despite the difficult pandemic context and opened 85 units this year out of 100 planned.

Prices of old three-room apartments in Bucharest fell by EUR500 or 0.5% in October compared with September, reaching EUR98,300, after having gone up EUR100 the previous month, real estate consultant SVN Romania says.

Profi retail chain held by buyout investor Mid Europa Partners continues expansion as usual despite the COVID-19 pandemic, having opened 28 new stores in October. This is about as many as in other months or even higher than in some months of 2020.

Prices for new Dacia models start from EUR8,400 including VAT for the new Logan, EUR8,600 for the new Sandero, and EUR12,050 for the new Sandero Stepway, the carmaker announced Wednesday.

Romanians working abroad sent EUR2.3 billion back home in January-August 2020, while foreign direct investments reached EUR1.4 billon (adding intragroup loans) and EUR994 million if considering only capital contributions (and reinvested profit, as well).

Electronics retailer Altex opens a 1,500 sqm store in Lugoj, western Romania, on November 5, following an investment of EUR5 million.

Golden Foods Snacks, which produces, packages and distributes sunflower seeds, peanuts and hazelnuts under the Elmas brand, said Tuesday in a stock market report that it successfully completed a new corporate bond offering, managing to attract RON4 million from investors.