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Ringhel raises EUR 0.5 mln on crowdfunding platform

Wednesday, July 22, 2020

Ringhel, a Romanian software company specializing in the electricity and gas industry, hit its EUR 400,000 target funding on the first day of a planned 30-day financing session on the local crowdfunding platform SeedBlink. Moreover, the company increased the offer to EUR 500,000 amid high interest from investors. The company's main project is PROCESIO, a platform that allows people with no coding experience to use ready-made software blocks and develop ...

TradeX and Transilvania IT Cluster represent Romania at most important contest for SMEs organized by EC

Wednesday, July 22, 2020

Romania will be represented, this year, in Berlin, in the most important competition for SMEs organized by the European Commission, by TradeX - Transfer Afaceri (Brasov) and Transilvania IT Cluster together with the Cluj Napoca City Hall."The Ministry of Economy, Energy and the Business Environment has selected the participants on behalf of Romania for this year. Our country is competing for two competition categories: improving the business environment and promoting entrepreneur ...

50 largest technology companies in Romania have quadrupled their businesses and teams in 10 years

Wednesday, July 22, 2020

The turnover and teams of the top 50 largest technology companies in Romania have increased four times in the last ten years (2009-2019), according to a Cushman & Wakefield Echinox analysis. They reached a combined turnover of EUR 3 billion and over 50,000 employees in 2019.  Most of these companies, such as Amazon, IBM, HP, Microsoft, or Oracle, are also in the top of the largest technology companies globally, which reconfirms Romania’s position in the top of the most ...

Calin Ile, appointed GM of new ibis hotel in Timisoara

Wednesday, July 22, 2020

Accor, the world’s leading augmented hospitality group, has announced the appointment of Calin Ile as general manager of ibis Timisoara, which is set to open this autumn.  With 20 years of experience within Accor, Ile will be in charge of building the new hotel’s team.  Calin Ile, whose career within the hospitality business has been strongly related to Accor Group and ibis network, will now oversee team-building, ...

Covid-19 changes employee benefits in Romania

Wednesday, July 22, 2020

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According to “Companies reactions to COVID-19, 2nd Edition,” a new study by Mercer Marsh Benefits, over 41% out of 154 Romanian companies surveyed have not resumed their office activity. The survey was conducted in the late May – early June period.Due to the lockdown, the most affected benefits offered by Romanian companies were team building/hangouts: 34% of the companies surveyed have decreased their budgets for this, while 43% have eliminated them completely. ...

Ford finances five new programmes for social entrepreneurship for the community in Craiova

Wednesday, July 15, 2020

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Five new programmes for social entrepreneurship for the community in Craiova will be developed by Ford Motor Company Fund in the Centre for Resources and Employment Ford in Craiova (CRAF) inaugurated in October 2018, announced on Friday the auto constructor in a press release. According to the company representatives, the five winning projectes, which will receive grants with a value between 15,000 and 30,000 dollars to be developed are: Ebis Clus ...

EconMin Popescu: Grant projects for SMEs

Wednesday, July 15, 2020

The three state aid schemes from the overall envelope of one billion euros from the EU will be distributed to micro-enterprises without employees, medical offices, PFAs (Authorized Individuals) of physicians caught in the fight against the pandemic, NGOs with economic activity affected by the pandemic, but also in the form of working capital and finally for investments, the Minister of Economy, Virgil Popescu, said in an interview for Agerpres."Basically, the ...

Over 10.22bn lei extended through SME INVEST in almost two months

Wednesday, July 15, 2020

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The program to support small and medium-sized enterprises SME INVEST Romania has entered the fourth phase of implementation, that of granting state aid, which will ensure zero financing costs for the program applicants, announced on Monday the National Credit Guarantee Fund for SMEs (FNGCIMM).The number of loans approved by the 21 financiers participating in the program is 11,589, and the volume of guaranteed financing is over 10.22 billion lei.This ...

Communications watchdog issues 995,900 lei worth of fines as of mid-year, Orange Romania fined 500,000 lei

Wednesday, July 15, 2020

In the first half of this year, the National Communications Administration and Regulation Authority (ANCOM) fined telecom, postal service and radio equipment providers an aggregate 995,900 lei, of which more than half was the fine handed down to Orange Romania for the security incident on January 14, 2020, which affected 1.92 million connections nationwide, the authority said in a release.As of mid-year, the telecom market watchdog conducted 1,735 controls, issued ...

UiPath hits USD 10.2 bln valuation after new financing round

Wednesday, July 15, 2020

UiPath, the leading enterprise Robotic Process Automation (RPA) software company, founded by Romanian entrepreneurs Daniel Dines and Marius Tirca, announced that it closed a USD 225 million Series E investment round, reaching a valuation of USD 10.2 billion. Alkeon Capital Management led the financing round. Others participating include Accel, Coatue, Dragoneer, IVP, Madrona Venture Group, Sequoia Capital, Tencent, Tiger Global, Wellington, and funds ...

Deloitte Romania appointed two new directors and one partner within Reff & Associates

Wednesday, July 15, 2020

Deloitte Romania strengthens its management team by promoting Ioana Boca to Financial Advisory Director, Sorin Elisei to Director within the specialized practice in the energy and natural resources industry, and Mihnea Galgotiu-Sararu to Partner within Reff & Associates, the law firm member of Deloitte Legal global network. “It am proud to witness the ...

Global Vision expands its collaboration with Apex Alliance Hotel Management

Wednesday, July 15, 2020

Global Vision, the real estate integrated services platform founded by Sorin Preda 16 years ago, continues its expansion in the facility and property management segment and adds to its administration and maintenance portfolio the newest hotel opened in Bucharest: Moxy Bucharest Old Town, operated by Apex Alliance Hotel Management. ”We are glad to extend the collaboration with Apex Alliance through a new contract, this time for the Moxy brand ...

Business dissolutions decrease by over 31pct Jan..-May 2020 in Romania

Wednesday, July 8, 2020

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The number of business dissolutions in Romania decreased by 31.66% in the first five months of 2020, compared with the same period of the previous year, to 9,675, from 14,157 in January - May 2019, according to data with the National Companies Registry Office (ONRC).Most of the dissolutions were recorded in Bucharest - 1,810 companies (down by 24.96% from the first five months of 2019) and in the counties of Constanta (533, -25.04%), Timis (516, -20.98%) and ...

Ford Romania reduces employment on low demand

Wednesday, July 8, 2020

Some 213 employees of the automobile factory operated by Ford in Romania will lose their jobs as the company faces weak demand, local ...

Microsoft sets up new development centre in Romania by takeover

Wednesday, July 8, 2020

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US technology group Microsoft announced it took over Movial, a Romanian software engineering and design services company specializing in mobile and embedded devices. Thus, the Movial office in Iasi will become the fourth technology development center in the region for Microsoft. During the transaction, 60 Movial employees from the company's office in Iasi joined the Microsoft Devices organization to continue its investment in Android platform ...

Four bidders compete for EUR 273 mln helicopter contract in Romania

Wednesday, July 8, 2020

Four bidders have submitted offers in the tender organized by the Romanian Government for purchasing up to 12 helicopters for the emergency service IGSU for an estimated price of EUR 273 million. One of the bidders is Airbus Helicopters, which operates a production facility in Brasov, central ...

Lactalis closes two factories in Romania, focuses on the others

Wednesday, July 8, 2020

French multinational dairy products corporation Lactalis announced that it would close two of its dairies in Romania, in Floreni and Vatra Dornei, as the group concentrates local activities. But the company assured that the collection of milk in the respective regions would continue, and the processing will be relocated to other factories the group owns in the country. The LaDorna brand and the Dorna Lactate company (that ...

AHK Romania: German companies in Romania expect deep sales dive, slow recovery

Wednesday, July 8, 2020

German companies in Romania expect a sharp contraction of their revenues and slower recovery than initially envisaged, according to a poll operated by the German Chamber of Commerce (AHK) and published on June 30. The political circumstances and the Government's ability to stimulate the economy are the main concerns revealed. Most companies polled expect a drop in turnover of between 10% and 25%, while over 24% of them believe ...

NEPI Rockcastle, AFI Europe, start arbitrage over failed EUR 300 mln deal

Wednesday, July 8, 2020

NEPI Rockcastle, the biggest mall owner in Romania, initiated the arbitrage procedure for getting the guarantee allegedly owed by Israeli developer AFI Europe's Romanian subsidiary following a EUR 300 mln office deal that ...

Questo platform gets EUR 300,000 for expansion

Wednesday, July 8, 2020

Questo, a platform for city exploration games developed by Romanians, has raised EUR 300,000 to continue its international expansion. The financing round was led by Sparking Capital with participation from Early Game Ventures. The funds should help Questo expand into more cities through local storytellers and tour operators. With Questo, travelers, and locals explore destinations by following clues and solving challenges to ...

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