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Mega Image opens 11 new stores in Romania this month

Wednesday, May 27, 2020

Dutch-Belgian retailer Mega Image continues expanding in Romania by opening 11 new units in May. Eight stores will operate under the Mega Image label and three others as part of the proximity-store chain Shop & ...

Support programmes for SMEs could run from second half of June

Wednesday, May 20, 2020

Minister of Economy, Energy and Business Environment Virgil Popescu stated that support programmes for small and medium-sized enterprises will probably start in the second half of June."At the Ministry of Economy and Business Environment we still have the micro-industrialization programme, which is addressed to SMEs, and here we are talking about micro-grants of up to 450,000 lei for investment, for technological equipment. We have the trade and services programme ...

57,800-plus SMEs with a total of about 726,200 jobs sign up for dedicated IMM Invest program

Wednesday, May 20, 2020

More than 57,800 small and medium-sized enterprises with a total of about 726,200 jobs have signed up for the IMM Invest program, and about 5,000 files have received the banks' approval so far, Dumitru Nancu, director general of the National Credit Guarantee Fund for Small and Medium-sized Enterprises (FNGCIMM) said on Tuesday."We got 57,807 files, and the banks have processed and approved about 5,000 of them. This is the first and only program to produce effects ...

ONRC: self-employed, sole proprietors and family-owned businesses at 381,152 as of end-March

Wednesday, May 20, 2020

Romania had 381,152 self-employed persons / sole proprietorships / family-owned businesses registered as of March 31, 2020, by 634 (0.16 percent) more than in the previous month, shows data centralized by the National Trade Register Office.Most of these entities were registered in Bucharest (26,640) and in the counties of Cluj (17,850), Bihor (17,152) and Iasi (14,212).The total number of business owners was 417,037 most of whom (53 percent) were aged ...

Bittnet Group reports revenues of RON 19 M in the Q1 of 2020

Wednesday, May 20, 2020

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Bittnet (BNET), a group of IT companies, listed on the AeRO market of the Bucharest Stock Exchange reported 19,3 million lei in consolidated revenues as of March 31st, 2020, an increase of 21% compared to the revenues from Q1 2019, and tripling of a gross margin. BNET shares will float on the Main Market of the Bucharest Stock Exchange in the next weeks, as the company has already submitted all the documentation required for the transfer to take place to the ...

MedLife Group expands syndicated loan by another EUR 20 mln

Wednesday, May 20, 2020

MedLife, the leader of the private medical services market in Romania, has expanded its syndicated credit facility by another EUR 20 million to approximately EUR 110 million. The group will use the extra funds for the development of several projects in the context of COVID-19. The projects are in the area of prevention, research, and refurbishment. MedLife also plans to continue its program of acquisitions, both nationally and ...

Romanian startups and scaleups that raised capital during pandemic times

Wednesday, May 20, 2020

Some venture capital firms and business angels are looking to the new trends that have come up and invest in Romanian tech startups and scaleups. SanoPass: 400.000 euro (Cleverage Venture Capital, Founders Bridge, SeedBlink) SanoPass, a Romanian start-up that aggregates independent medical service providers to sell preventive medical packages to firms, has raised 400,000 euro just at the ...

Digi Communications revenues in Q1 2020 up by 11 percent to 313.2 million

Wednesday, May 20, 2020

Digi Communications Group registered increasing revenues in the first quarter of 2020 by 11 percent compared to the same period of previous year (from EUR 281.2 million to EUR 313.2 million). Adjusted EBITDA was EUR 114.7 million (including IFRS 16), 26.4 percent increase compared to previous period. Digi Group delivered a strong overall performance in the first quarter of 2020. Given the general public health context, since mid-March, the company ...

Stable performance for Telekom Romania in Q1 2020

Wednesday, May 20, 2020

Telekom Romania group announces key performance indicators in the first quarter of 2020, ended March 31, 2020, as reported today by OTE Group. With a year-on-year growth on the major financial KPIs – Revenue & EBITDA – the company managed to improve the results in Q1 2020, compared to the same period in the previous year. Consolidated revenues increased to EUR 237.1 million, a growth of 9.5 percent over the result of Q1 2019. At the same time, Adjusted ...

Study: Romania should capture investors disappointed by China

Wednesday, May 20, 2020

Romania must focus on encouraging domestic production for local and foreign markets, according to an analysis conducted by experts from Moneycorp Romania, quoted ...

Donalam Calarasi completes EUR 4 mln investment

Wednesday, May 20, 2020

The Donalam steel mill in Calarasi, southern Romania, part of the Italian group Beltrame, has completed a EUR 4 million investment in a special steel bar treatment equipment. This will allow the company to offer steel bar products with increased added-value (through treatment and finishing) and focus on customized orders. The company has financed the from its cash flow. "Our industry is highly ...

Elbit and Romanian companies, partners in planned programs of Romanian Army

Wednesday, May 20, 2020

Israeli defense electronics company Elbit Systems signed a Memorandum of Understanding (MOU) with Romanian companies Avioane Craiova and Romaero for cooperation in the field of Unmanned Aerial Systems (UAS) for the planned programs of the Romanian Defense Ministry (MApN). The Memorandum of Understanding stipulates that Romanian companies are responsible for assembly, integration, training, maintenance and repairs, and program ...

Vodafone Romania's revenues reached 905 million euros, on March 31, 2020

Wednesday, May 13, 2020

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Vodafone Romania has announced the key performance indicators for the year ended March 31st, 2020, as reported today by Vodafone Group Plc. Following the acquisition of UPC Romania starting with 31st of July 2019, the results for this year include also the reported figures of UPC Romania. Therefore, the consolidated total revenue mounted to EUR 905 million in year ended March 31st, 2020. This fiscal year was an important ...

ZIZIN launches its new image

Wednesday, May 13, 2020

ZIZIN mineral water company announced a new brand image and the launching of a positioning campaign. The main concept of the new brand image and campaign is harmony and urging people to achieve, according to a statement released by the company. The objective of repositioning the ZIZIN brand on a new territory was the start of all the changes to come. ZIZIN has aligned itself with modern life ...

Antibiotice Iasi shows profit higher by 25 pct, after Q1 of 2020

Wednesday, May 13, 2020

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Drug producer Antibiotice Iasi showed a net profit higher by 25 pct, following the first three months of the year, totaling 4.08 million RON, due to the fiscal facility exempting from tax profit invested in technological equipment, a release of the company sent on Tuesday to the Bucharest Stock Exchange shows."Following the income recorded and the expenses conducted, in Q1 of 2020 the gross profit is worth 4.19 million RON, a 1 pct increase in comparison to the ...

Assistance programme for medium, large companies under consideration

Wednesday, May 13, 2020

Prime Minister Ludovic Orban said on Tuesday that an assistance programme for medium and large companies in Romania, similar to the one for SMEs (IMM Invest), is currently under consideration for approval."Regarding assistance for companies, an assistance programme for medium and large companies, similar to IMM Invest, is currently under consideration for approval. Let's provide these companies as well products to guarantee loans for working capital and investment ...

Number of suspended businesses down 72 pct in first quarter of 2020

Wednesday, May 13, 2020

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The number of suspended companies decreased in the first three months of 2020 by 72.28%, compared to the same period last year, and reached 13,791, according to statistics from the National Trade Register Office (ONRC).Most suspensions were registered in Bucharest - 1,873 companies (60.58% fewer than in January-March 2019) and in the counties of Constanta - 615 (minus 43.98%), Cluj - 571 (minus 63.51) %) and Timis - 547 (minus 59.51%).At the opposite ...

MerchantPro reports record activity in April

Wednesday, May 13, 2020

MerchantPro, a Romanian online store developer, tripled the number of new online stores sold in April. Separately, the value of orders received by the stores on its platform doubled in April compared to the same month last year and went up 40% compared to March. MerchantPro also hosts and manages the stores it develops based on a SaaS e-commerce platform. The company has launched a special program, ...

Iulia Ionescu is the new Country Lead of Sanofi Romania and Moldova

Wednesday, May 13, 2020

Sanofi Romania announces that, as of 1 May 2020, Iulia Ionescu is the new Country Lead of Sanofi Romania and Moldova. Educated to be a medical doctor and with an experience of over 20 years in the pharmaceutical industry, Iulia Ionescu, MD is the General Manager of the General Medicines Division of Sanofi Romania and Moldova (diabetes, cardiovascular diseases and mature drugs) and also Execution Excellence Lead South Europe MCO, positions that she will continue to ...

ArcelorMittal resumes operations at its Hunedoara unit

Wednesday, May 13, 2020

The steel plant operated by ArcelorMittal group at Hunedoara in Romania resumed its production activity on May 3, observing the protection norms of the employees to prevent the spreading of the new ...

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