Romania Feed

Romania's state-owned salt company Salrom, the only salt producer in the country, has started feasibility studies to reopen the graphite mine at Baia de Fier (Gorj County), which was shut down in 1994.

IT&C and home appliance wholesaler ELKO has announced the signing of an agreement to acquire the company IT Smart Distribution, which will help ELKO to consolidate an important position among the top three players on the Romanian IT wholesale market upon the completion of the transaction, the company said in a statement.

Lithuanian hotel operator Apex Alliance, which owns and operates five hotels in Bucharest, has appointed Harmen Silver as general manager of its Marmorosch Bucharest, Autograph Collection hotel, set to open this summer.

Real estate consulting company Cushman & Wakefield Echinox has appointed Raluca Mihaiu to the position of CFO & Operations Manager.

One in three Romanian plans to buy a home in the next 12 months although 70% think currently residential prices are overrated and 77% think prices will grow in 2022, according to a survey by Ipsos conducted in June 2021 for ING Bank.

New loans granted by banks in Romania grew 32% in annual terms in the first four months of the year, to RON34 billion, data from the Romanian banking Association showed Tuesday.

CITR, the leading insolvency practitioner in Romania, part of Impetum Group, has been appointed judicial administrator for the Diverta bookstore chain owned by businessman Octavian Radu, which recently filed for insolvency.

Romania's public debt reached RON526.6 billion (EUR107.5 billion) at the end of April (EUR107.5 billion), accounting for 49.9% of the gross domestic product after just four months, as the government's cap on public debt for the full year stands at 55% of GDP.

Climate change risk is an increasingly significant driver in investment models and has been cited by almost 90% of institutional investors as the most significant ESG (environmental, social, governance) factor influencing their decisions to invest in a company, according to Deloitte’s report “Building credible climate commitments - a roadmap to earning stakeholder trust".

Law firm PeliPartners is relocating its offices as of July 1 on the 13th floor of the Charles de Gaulle Plaza office building in Bucharest, located near the Aviatorilor metro station.

Fitch Ratings has affirmed Romanian state-owned natural gas transmission company Transgaz's Long-Term Issuer Default Rating at 'BBB-' with a Stable Outlook.

Michelin Romania, part of France’s Michelin group, one of the largest tire markers in the world, posted RON3.18 billion (EUR660.3 million) revenue in 2020, a decline of more than 9% from the RON3.51 billion (EUR740.6 million) revenue of 2019, Finance Ministry data show.

The 60-retail pharmacy chain Iris Pharm in Buzau can budget an investment in expansion should the opportunity arise this year, as it ended 2020 with a 19% rise in sales to RON43.4 million.

Romania’s banking system numbered 34 banks last year, the same as in 2019, more than half of which with less than 1% market share.

Romania’s retention of its investment-grade rating will depend on the fiscal outlook and policy implementation, Fitch Ratings said in a new report.

Building materials manufacturer Macon Deva, acquired by Germany’s Xella, had a turnover of nearly RON35.8 million (EUR7.4 million) in 2020, fourfold lower than over RON141.1 million (EUR29.8 million) in 2019, per calculations by Ziarul Financiar (ZF) based on finance ministry data.

Car parts and accessories wholesaler Inter Cars Romania, part of Polish Inter Cars Group, reported a turnover of nearly RON958.3 million (EUR198.8 million) in 2020, up over 9% from 2019, per calculations by Ziarul Financiar (ZF) based on finance ministry data.

Belgian company Carmeuse Holding, which hold three lime manufacturing plants in Romania, registered a turnover of RON204 million (EUR42.3 million) in 2020, up nearly 5% from 2019, per calculations by Ziarul Financiar (ZF) based on finance ministry data.

The Bucharest Stock Exchange (BVB) on Wednesday announced that Alser Forest bonds will start trading on the Multilateral Trading System (MTS) of BVB, under the ticker symbol ALS24E, on Wednesday, June 30, 2021.

The shares of Romanian engineering and technology entrepreneurial company Simtel Team (SMTL.RO) will start trading on the Bucharest Stock Exchange on July 1, 2021, per stock market data.