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PM Orban discusses with TAROM, Blue Air representatives solutions for economic recovery

Wednesday, July 29, 2020

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Prime Minister Ludovic Orban on Monday discussed at the working meetings he had at the Victoria Palace with the representatives of TAROM and Blue Air airlines, which were strongly affected by the COVID-19 pandemic, a series of measures the Executive is currently considering in helping the two companies to recover.According to a Government's post on Facebook, the PM, alongside the Minister of Transport, Lucian Bode, and the Minister of Finance, Florin Citu, have ...

All state-owned companies, to receive notification to comply with corporate governance law

Wednesday, July 29, 2020

The Ministry of Public Finance will send a notification to state-owned companies to comply with Ordinance 109/2011 on corporate governance of public enterprises, because professional management, with a clear mandate is needed, the relevant Minister, Florin Citu, told private TV broadcaster Realitatea Plus."We are having discussions with all companies. I assure all Romanians that all state companies will receive a notification from the Ministry of Public Finance to ...

Sotheby’s enters Romanian art market

Wednesday, July 29, 2020

Sotheby’s global art business has launched in Romania, under the name of Romania Sotheby’s International Realty. Therefore, Sotheby’s International Realty Affiliates LLC is entering the Romanian art market through a partnership with Artmark Historical Estate. Romania Sotheby’s International Realty will focus on the acquisition of historical and luxury properties in Romania, providing global ...

TeraPlast Group increases its operating margin by 49 percent in the first half of 2020

Wednesday, July 29, 2020

  TeraPlast Group, the largest Romanian construction materials manufacturer, opens the half-year financial reporting at BSE and announces a 17 percent increase in turnover for the first half of 2020, compared to the same period of last year. At the same time, the EBITDA increased by 49 percent, from over RON 35 million to over RON 52 million. „We open the half-year ...

Survey: July business sentiment mostly positive

Wednesday, July 29, 2020

Most company managers in Romania expect growth in manufacturing, construction and retail in the next three months, while in the services sector, a relative stability is forecast, the National Statistical Office (INS) said on Tuesday. The managers of companies operating in the manufacturing industry expect a moderate increase in production volumes, with a positive 11% balance, during the next three months, INS said in a monthly business sentiment ...

Wilo opens EUR 6.9 mln regional centre near Bucharest

Wednesday, July 29, 2020

German water pump system producer Wilo has invested EUR 6.9 million in building a regional headquarters in Otopeni, near Bucharest, Ziarul ...

The competition council approves RCS&RDS deals to run three telcos networks

Wednesday, July 29, 2020

Digi Communications [BSE: DIGI] said on Monday that its Romanian subsidiary RCS&RDS has received the anti-trust body's approval to take over the rights to operate the networks of local peers Digital Cable Systems, AKTA Telecom and ATTP Telecommunications. RCS&RDS will operate  will operate the electronic communications networks of the three companies and will provide electronic communications services to the clients, in exchange ...

Agnieszka Blas, DHL Express new managing director for Romania

Wednesday, July 29, 2020

DHL Express Romania has a new Managing Director effective July 1 2020. Agnieszka Blas will be responsible for over 500 employees, providing services for nearly 6000 account customers, across 25 facilities in Romania. Agnieszka had previously held management board positions at DHL Express Poland, being Senior Director of Operations in the last 8 years. She has joined DHL team in 2001 and has a vast experience in operational infrastructure and customs ...

Robotics, the new trend to watch in post-pandemic Romania

Wednesday, July 29, 2020

The COVID-19 pandemic will accelerate new trends in Romanian business environment, including robotics. Whether we are talking about robotic process automation (RPA) or the automation of certain production processes, the post-COVID-19 reality in Romania will be based on new business models. As an example, the pandemic has generated a lot of demand for UiPath’s software robots to assist hospitals with processing medical tests. Health care is ...

Zitec becomes a Google Cloud Premier Partner

Wednesday, July 29, 2020

Starting with July 2020, Zitec, a Romanian market leader in IT & Digital Marketing, became a Google Cloud Premier Partner, the highest achievable status reserved for Google Cloud partners. For the past 2 years, Zitec developed a strong partnership program with Google Cloud, improving the business impact of its clients, using cloud services, facilitating access to cutting edge services and technologies, and specializing Zitec team members through intensive training ...

Vodafone Romania reports the financial results for the Q1 2020

Wednesday, July 29, 2020

* Service revenue is at EUR 189.7 million in the quarter ended June 30th 2020 lower by -1.2% compared to the same period of last year. Vodafone Romania announces the key performance indicators for the quarter ended June 30th, 2020, as reported today by Vodafone Group Plc. The service revenue is at EUR 189.7 million and continues to be stable on quarterly evolution. Compared to the same period of last year, the reported ...

UiPath plans to list its shares next year

Wednesday, July 29, 2020

UiPath, the first unicorn set up by Romanian entrepreneurs, is preparing to list its shares under an initial public offering (IPO) next year, announced the company's co-founder Daniel Dines. In February, Dines only indicated that UiPath was approaching the listing of its shares without mentioning a date. Now, Dines announces 2021 as a firm deadline. "We had plans for listing on the stock exchange even before the pandemic, but we ...

Romanian startup Neurolabs raises EUR 1 mln in Scotland

Wednesday, July 29, 2020

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The Neurolabs startup, founded by a team of Romanians and operating in Romania and Scotland, announced the successful conclusion of a EUR 1 million financing round. The round was led by Lunar Ventures and Techstart Ventures, alongside 7percent Ventures, ID4 Ventures, Charles Songhurst, and Andreas Wiese. Mick Halsband from Lunar Ventures will be joining the company's board. Neurolabs was founded by a ...

Revo Technologies announces its entrance on the Romanian market

Wednesday, July 29, 2020

Revo Technologies, a CEE-based fintech company, operating under the Mokka brand, specialized in “Buy Now Pay Later” services announces its entrance on the Romanian market. Mokka allows customers to buy instantly and pay for the products or services on their own, favourable terms. In 2019 alone, Revo financed over 750,000 purchases in more than 7,000 online and offline stores across Eastern Europe. “Buy Now Pay Later” ...

Alum Tulcea, beneficiary of a non-reimbursable financing of 8.8 million euros from the European Commission

Wednesday, July 29, 2020

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ALUM S.A., the only calcined alumina producer in Romania, is one of the stakeholders of the ReActiv project, an initiative aiming to reduce waste and CO2 emissions by transforming bauxite residue, the main by-product of the alumina sector, into an active material suitable for developing new cement products, with low CO2 footprint. Coordinated by LafargeHolcim through its Research and Development Center („Lafarge Centre de Recherche SAS”), the project is ...

Continental Romania invests 27 million euro in modernizing research and development center in Iasi

Wednesday, July 22, 2020

Continental Romania has finalized works to expand the research and development center in northeastern Iasi, in which it invested 27 million euro, the company informs in a release sent on Monday.The new construction has 8 levels, a capacity of up to 1,700 places and comprises a complete testing and validation area of products developed within the company, as well as relaxation spaces, conference halls and dining halls, Continental Romania says.The manager of the ...

DESI Study: SMEs investments in technology în 2019, the lowest in the EU

Wednesday, July 22, 2020

The European Commission published at the end of June the 2020 edition of the Digital Economy and Society Index (DESI), an annual study that assesses Europe’s digital performance and tracks the evolution of EU member states in digital competitiveness. Romania was ranked 26th out of 28 Member States, based on five key criteria – connectivity, human capital, use of internet services, integration of digital technology and digital public services. Despite its strong IT sector and ...

Telekom Romania launches the #FanAfaceriMici campaign to help local businesses

Wednesday, July 22, 2020

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Telekom Romania launches #FanAfaceriMici campaign, through which it promotes local businesses with the help of Romanians. While social network users are invited to promote small businesses using #FanAfaceriMici, Telekom Romania will promote on its socializing pages 20 businesses proposed by users.  This period marked by uncertainty was very difficult for all businesses, regardless of their size, and local companies were forced to discontinue their business or find new ways to ...

Amber achieves the best turnover in its history at USD 13.6 million în 2019

Wednesday, July 22, 2020

Amber, the largest independent game development company in Romania, reported the highest turnover in its history for 2019: RON 57.85 million (USD 13.65 million), representing an 80 percent growth YoY. The company’s profit margin in 2019 was 12 percent. The main driver for this growth was the focus on full game development services, revenues in this segment increasing by 300% in 2019 compared to the previous year. This growth is expected to continue strongly this year as ...

ARCA and Govt. to set up labor exchange

Wednesday, July 22, 2020

The Romanian association of highway construction companies (ARCA), the Labor Ministry and the Labour Bureau (ANOFM) have decided to set up a platform for construction jobs. "The return of Romanians to the country in the context of the COVID-19 pandemic and the lack of labor on the construction sites, the labor deficit being estimated at 500,000 people, were just two of the arguments for the decision to create the labor exchange," reads ARCA's press release, quoted ...

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