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Constructions, tourism and industry have a deficit of over one million employees

Wednesday, November 13, 2019

Over one million employees are necessary in constructions, tourism and industry in Romania, and due to the lack of workforce, six out of ten business people will bring personnel from abroad, shows a series of recent studies, quoted by one of the most important suppliers of software solutions for the management of the production process of a company (ERP) and for the efficient management of business (CRM).In this context, the representatives of SoftOne technologies ...

Vodafone Romania reports the financial results for the Quarter ended September 30th, 2019

Wednesday, November 13, 2019

Vodafone Romania announces the key performance indicators for the quarter ended September 30th, 2019, as reported today by Vodafone Group Plc. Following the acquisition of UPC Romania starting with 31st of July 2019, the results for this quarter include also the reported figures of UPC Romania for period August and September 2019. Consolidated total revenue of EUR 232 million in the quarter ended September 30th, 2019, down 0.1% on an organic basis ...

KPMG in Romania has a new Human Resources Director 

Wednesday, November 13, 2019

* Simona Podgoreanu joins KPMG in Romania as Human Resources Director, starting November 2019. Simona is a senior executive with almost 20 years of experience in human resources. She was the HR Director in Agricover for over 13 years and an associate professor at ASSEBUS Executive MBA program and ExecEdu for 16 years. During her career she has developed extensive knowledge and experience of HR and Organizational Development, and has ...

EBRD invests 4.5 mln euro in Romania's Autonom bond issue

Wednesday, November 13, 2019

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 The European Bank for Reconstruction and Development (EBRD) said on Friday it has invested 4.5 million euro ($4.98 million) in a 20 million euro bond issued by Romanian mobility services company Autonom. Autonom will use the raised funds to expand its car fleet in order to meet increasing demand from local companies, the EBRD said in a press release. The bond will be listed on the Bucharest Stock ...

Bosch invested EUR 7 mln în a new building of his factory in Blaj

Wednesday, November 13, 2019

German group Bosch, a global leader in technology and services, has inaugurated a new building that includes offices and testing laboratories at its factory in Blaj, central Romania. The investment amounted to EUR 7 million. The announcement comes after the German group dropped a major EUR 120 mln investment in a new washing machine factory in western Romania. The construction of the new facilities at the Blaj plant began ...

Company closures up more than 42 percent in the first nine months of the year 

Wednesday, November 13, 2019

The number of companies that were closed down in Romania increased in the first nine months of the year by 42.1 percent compared to the same period of 2018, reaching 83,376 companies, according to the National Trade Registry Office (ONRC). Most closures were registered in Bucharest – 9,785 companies (4.99 percent more compared to January-September 2018) and in counties Iasi – 4,384 (+87.75 percent), Cluj – 3,145 (+27.74 percent) and ...

TOP ROMANIAN SOFTWARE COMPANIES

Wednesday, November 13, 2019

In 2018 in Romania, there were about 20,700 companies in the software field, 18.6 percent more than in 2017 and 30 percent more compared to 2014. The highest turnover share was generated by mid-sized companies (39 percent of the total). However, over 4,800 companies (23 percent) had zero turnover in 2018. According to KeysFin specialists, the largest software company in Romania remains Oracle, with a turnover of over EUR 206 million (3.6 percent of the ...

Revenue of Medicover and Synevo in Romania reached EUR 89m for the first nine months of 2019

Wednesday, November 13, 2019

Medicover healthcare and diagnostic services company has released the interim report for the first nine months of the year. Revenue grew by 25.3% compared to the same period previous year, reaching EUR 614.7m. In ...

OTE: relaunch plan in Romania yields results

Wednesday, November 13, 2019

The Greek group Hellenic Telecommunications Organization (OTE) reported on Thursday a 7.4% increase of incomes obtained in Romania in quarter 3, to 243.5 million euros, mainly thanks to the significant income increase in wholesale services, according to results published by the majority shareholder at Telekom Romania. Over July-September 2019, Telekom Romania incomes from wholesale services grew by 67.3%, to 41 million euros, as a result of increased ...

Oltchim shares withdrawn from transactions as of Thursday

Wednesday, November 13, 2019

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Oltchim shares were withdrawn from transactions as of Thursday, following a decision of the Authority for Financial Supervision, sent to Bucharest Stock Exchange.  According to the decision, an orderly market can no longer be maintained for Oltchim Ramnicu Valcea, considering the opening of bankruptcy procedure, following the sentence pronounced by Valcea Court.  Oltchim started the insolvency procedure on January 30, ...

Telekom Romania posts third consecutive quarter of profit growth

Wednesday, November 13, 2019

Telekom Romania group has announced key performance indicators for the 2019 third quarter, ended September 30, 2019, as reported today by OTE Group. The financial performance for the quarter shows that the transformation programs initiated by the company have been delivering results, bringing Telekom Romania closer to its goal of redefining the operational model towards a simple and digital company. Adjusted EBITDA before IFRS 16 grew for a third ...

Number of newly established companies with foreign capital dropped 0.7 pct in first 9 months

Wednesday, November 13, 2019

The number of newly established companies with foreign capital dropped, in the first nine months of 2019, by 0.7 pct compared to the similar period of last year, to 4,166 companies, according to data centralized by the National Companies Registry Office (ONRC).The 4,166 new companies had a total capital of 17.342 million dollars, a 57.3 pct decrease over January-September 2018.The largest number of companies with foreign participation was with ...

106,435 business entities registred in Romania, Jan.-Sept. 2019

Wednesday, November 6, 2019

The number of registrations of business entities, both individual and legal persons in Romania, increased in the first nine months of 2019 by 4.99pct from the same period of 2018, to 106,435, of which 74,144 (about 70pct) limited liabilities , according to data with the National Companies Registry Office (ONRC).Most registrations were reported in Bucharest, 13,452 ( down 10.62pct y-o-y), and in the counties of Cluj, 5,043 (-15.27pct); Timis, 4,575 (-4.25pct) and Iasi, 4,320 ...

Purcari, 1st international company that joins ARIR

Wednesday, November 6, 2019

Purcari Wineries Group has become Associate Member of the Romanian Investor Relations Association (ARIR). Purcari is listed at the Bucharest Stock Exchange since February 2018, successfully concluding the first Initial Public Offering (IPO) of a company originated in the Republic of Moldova. “Purcari’s mission is to bring joy in people’s lives by offering them high quality, inspiring, ethical wines and excellent value for money. We are committed to creating ...

Bosch drops plans to build EUR 110 mln washing machine factory in Romania

Wednesday, November 6, 2019

German group Bosch has stopped the project for building a new washing machine factory in Romania, a EUR 110 million investment, Ziarul Financiar reported quoting company officials. “BSH Hausgeräte GmbH has decided not to continue its plans for the construction of a washing machine plant in Simeria until further notice. Due to the economic conditions and the strategic planning of sales based on them, the appliance manufacturer does not currently see the need for additional ...

MedLife purchases the majority package of the company Micromedica Medical Center

Wednesday, November 6, 2019

MedLife private healthcare provider has bought Micromedica Medical Centre, a private unit operating in the region of Moldavia region. Micromedica has been operating on the private medical market since 1995, providing over 18 medical specialties and laboratory services. The group has six medical units in Piatra Neam?, Bac?u, Roman, Bicaz, Roznov and Târgu Neam?. It posted a turnover of RON 18 million in 2018. “We are boosting out presence in Moldavia through ...

Mid Europa to sell Walmark's operations to STADA

Wednesday, November 6, 2019

Private equity investor Mid Europa Partners said on Monday it has signed an agreement to sell Czech Republic-based healthcare company Walmark's business in Romania, Bulgaria and seven other EU countries to STADA Arzneimittel AG. The transaction, whose value was not disclosed, is subject to customary anti-trust clearance and is expected to close in the first quarter of 2020, CEE-focused Mid Europa said in a press release. "This transaction recognizes the value of ...

European Commission: Romanian SMEs should apply for financing through the Junker plan

Wednesday, November 6, 2019

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Romanian SMEs should apply for financing through the Junker plan, which will be focused on green economy and research and development (R&D) in the next five years, Istvan Jakab, a representative of the European Commission in Romania, said at Business Review’s Foreign Investors Summit. The European Commission came up with the European Fund for Strategic Investments (EFSI) – known as the “Juncker plan” – to foster investment in the ...

TC Capital relaunches office project after EUR 14 mln revamping

Wednesday, November 6, 2019

TC Capital, a real estate investment company managed by Turkish investor Ali Capa, a former shareholder of Anchor Group, is going to relaunch the Hyperion Towers office building project in the office-dense northern Bucharest district Pipera, following an extensive renovation process that is ...

MVGM closes on JLL’s property management business in Romania

Wednesday, November 6, 2019

Dutch-based property manager MVGM last Friday closed the acquisition in Romania as part of its deal to acquire JLL’s European property management business and the alliance partnership in 10 European countries. MVGM also announced today that they have completed the purchase ...

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