Romania Feed

Analysts of CFA Romania estimate the Romanian leu will depreciate to an average of RON5 to the euro in the next 12 months, while inflation is expected to average 2.87% and the country's economy to contract 4.5% in 2020.

Soufflet Malt, the largest producer of malt (one of the key ingredients for beer) in Romania, posted about 255 million lei (EUR53.8 million) revenue in 2019, an increase of 7.5% on the previous year, ZF has calculated from Finance Ministry data.

New electric and hybrid cars registrations increased by 9% to almost 5,400 units in January-September, Romania’s Automotive Manufacturers and Importers Association (APIA) data show.

Shareholders of Romania's state-owned natural gas producer Romgaz Medias (SNG.RO) on Friday approved the extension of the mandates of current provisional Directorate members by two months from their expiration date, the company said in a stock market report.

Romania's natural gas transmission company Transgaz (TGN.RO) has completed the modernization works of the gas compressor station in Silistea, an objective included in the second stage of the project “Interconnection of the National Transmission System with the T1 international gas transmission pipeline and reverse flow at Isaccea”.

CTP, the largest developer and administrator of industrial and logistics parks in Romania and Central and Eastern Europe (CEE), plans to double the leasable area of logistics spaces in the region of Transylvania until 2023, with EUR50 million investments aimed at expanding the logistics parks near the city of Timisoara.

Nearly three quarters of investors active on the Romanian land market have closed transactions in 2020 or expect to do so by the end of the year despite sluggish economic recovery and the ongoing pandemic, a survey by Colliers International showed Friday.

With 38% annual growth, Romania was the top importer of laptops in the EU in the first half of 2020 as imports of laptops hit an all-tie high in the EU in April, Eurostat data showed Friday.

The assets managed by private pension funds (Pillar II and Pillar III) reached RON72.58 billion (EUR14.8 billion) at the end of September, up 17.96% compared with September 2019, data from Romania's financial market regulator showed Friday.

Private lending in Romania grew 1.1% in nominal terms and 1.2% in real terms in September compared with August, to RON277.5 billion, central bank data showed Friday.

The Renault group will stop assembling the Logan MCV when the second generation of Logan and Sandero ends and promises to replace it with a revolutionary car.

Turkey’s Arcelik Group, which has two plants in Romania, a refrigerator facility in Gaesti and a washing machine facility in Ulmi, Dambovita County, is investing in the local operations to meet huge demand during the Covid-19 pandemic.

Czech energy group CEZ announced Friday it has reached an agreement to sell its Romanian assets to funds managed by Macquarie Infrastructure and Real Assets (MIRA).

Casa Berarilor Artizani, a new beer-to-go store concept offering over 100 types of craft beer, developed by several Romanian investors during the coronavirus pandemic, is extending countrywide and opening a franchise store in Romania’s western city of Timisoara, following an investment of EUR35,000.

Impact Developer & Contractor (IMP.RO), a real estate developer held by businessman Gheorghe Iaciu, has started the construction of the first three blocks of the Boreal Plus residential compound.

The European Investment Bank (EIB) said Thursday it was granting EUR190 million support to Romanian companies in manufacturing, commerce, agriculture and tourism, sectors that were hardest hit by the COVID-19 pandemic.

The lockdown caused by the COVID-19 pandemic seems to accelerate the changes already analyzed before by local authorities, such as transformation of city centers into more friendly areas for pedestrians and cyclists, according to Deloitte 2020 City Mobility Index. Cities that have reclaimed street space from cars to enable physical distancing for cycling and walking are looking to cement those changes in a post-coronavirus world, shows the study, which measures mobility performance in 21 cities around the world, including seven European cities - Amsterdam, Barcelona, Dublin, Lisbon, London, Manchester, Rome and Stockholm.

Polish private equity fund Innova Capital confirmed on Thursday it has agreed to buy PayPoint Romania and the acquisition will support further development of payment services on the local market.

Agroland, a company developed by entrepreneur Horia Cardos, which owns a chain of supermarkets catering to farmers, has taken over egg and chicken producer Avicola Mihailesti consisting of six farms on 30 hectares in southern Romania.

Jacobs Douwe Egberts Ro, the local subsidiary of the group by the same name, posted 396.6 million lei (EUR83.7 milion) revenue in 2019, an increase of about 5% on the previous year, ZF has calculated from Finance Ministry data.