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IMM Invest programme: 3,083 companies took funds

Wednesday, June 10, 2020


Minister of Public Finance Florin Citu on Thursday stated that the IMM Invest programme (SMEs Invest) works very well and 3,083 companies took funds until now."We have eliminated several barriers a couple of weeks ago, we have approved an emergency ordinance and today we have the Government decision that approves the norms. The IMM Invest programme works very well. We already have 3,083 companies which took funds. (...) This means that we have already granted 2.45 ...

McDonald's restaurants reach record sales and profits in Romania

Wednesday, June 10, 2020

Premier Restaurants, the company that operates the McDonald's fast-food restaurant chain in Romania, recorded a turnover of RON 927 mln (EUR 195 mln) in 2019, up by 21% compared to the previous year. The net profit went up by 40%, to RON 123 mln (EUR 25.9 mln), according to official financial data reported at the Finance Ministry. These are the best results McDonald's has seen in Romania since the opening of its first restaurant ...

Orange Romania doubles net profit în 2019

Wednesday, June 10, 2020

Orange Romania, the local subsidiary of French telecom group Orange, doubled its net profit in 2019 compared to 2018 while its business advanced by only 1.4%. Orange reported a turnover of RON 5.83 bln (EUR 1.23 bln) in 2019 and a net profit of RON 385 mln (EUR 81 mln). In 2018, the company’s net result was RON 192 mln. Orange is the leader of the local telecom market by turnover and the biggest mobile carrier in the ...

EconMin Popescu: Aid package for SMEs with budget for non-reimbursable grants of 1 B euro

Wednesday, June 10, 2020

The Economy, Energy and Business Environment Ministry is preparing an aid package for SMEs with a budget for non-reimbursable grants of 1 billion euro, fresh money, relevant Minister Virgil Popescu conveyed on Wednesday.According to the Economy Minister, this package will be divided in three projects, as follows: 550 million euro grants for investments of up to 200,000 euro each grant; 350 million of capital grants, also of up to 200,000 euro each for the ...

Company deregistrations almost 73 pct down over Jan - April 2020

Wednesday, June 10, 2020

Company deregistrations were 72.87 pct down at 15,179 in the first four months of 2020 from the same period of 2019, shows statistical data of the National Trade Register Office (ONRC).Bucharest tops the list with most deregistrations - 2,089 companies (by 62.85 pct less YoY), followed by the counties of Constanta - 714 (-45.33 pct), Cluj - 680 (-63.24 pct) and Timis - 625 (-59.60 pct).Conversely, the counties with the fewest deregistered businesses ...

Only 1,392 insolvencies reported by Trade Register, January through April 2020

Wednesday, June 3, 2020


The number of companies and authorised individuals (PFA) that became insolvent decreased by 32.72pct in the first four months of 2020, compared to the same period last year, to 1,392 insolvencies, according to data published on the website of the National Trade Register Office (ONRC).Most companies and PFAs that became insolvent were registered in Bucharest, respectively 143, down 60.93pct versus to the period January-April 2019. The following places in the ...

Survey : Almost two thirds of Romania's companies didn't cut employees costs during emergency state

Wednesday, June 3, 2020

Almost two thirds (65 percent) of Romania's companies didn't implement measures to cut back costs with employees during the two months of the state of emergency, the data included in the PwC Romania HR Barometer and published on last Wednesday informs.According to the survey, the companies which decided to cut back costs have adopted a mix of measures which they implemented differently to employees depending on their positions, generally being targeted the ...

Bosch announces the Annual Financial Results 2019 in Romania

Wednesday, June 3, 2020

Consolidated sales in Romania amount up to over 2 billion lei (436 million euros) in 2019 Total net sales grew by 18 percent in 2019 to 6.7 billion lei (1.4 billion euro) Investment of more than 360 million lei (over 76 million euros) in 2019 Bosch global supplier of technology and services ended its 2019 fiscal year with over 2 billion lei ...

New anti-fraud technology solutions emerge, but companies must ensure cooperation between compliance and anti-fraud departments

Wednesday, June 3, 2020

A typical fraud case lasts 14 months before detection and causes a loss of over USD 8,000/month, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. When considering today’s financial landscape, where transactions happen under one second, and the current age of economic turmoil that COVID-19 has caused on a global scale, these challenges and risks become all the more threatening, underlined Deloitte Romania and SAS experts in a ...

Cristian Deaconu is the new Sales Director of Schneider Electric Romania & Moldova

Wednesday, June 3, 2020

The month of June comes with an important change in the Schneider Electric team. Starting with the 1st day of the previously mentioned month, Cristian Deaconu will take over the Sales Director role at the company, a position which was previously held by Lucian Enaru, who also serves as the company’s General Director. Cristian Deaconu has 10 years of experience with Schneider Electric, having occupied several management positions during his ...

Rosti leases space for second factory in Romania

Wednesday, June 3, 2020

Sweden's Rosti Group has leased 11,300 sq m of industrial space in Romania where it plans to build its second plastic injection moulding factory in the country, property and investment management services provider Jones Lang Lasalle (JLL) Romania said on Tuesday. The construction of the new production facility in Paulesti, near the southern city of Ploiesti, which was announced by Rosti at the end of last ...

Continental will invest 33 million euro to expand research-development center in Timisoara

Wednesday, June 3, 2020

Continental has started works to expand the research and development center in western Timisoara, the planned investment in the new building being 33 million euro, according to a release of the company sent on Tuesday.The building was designed for a capacity of over 1,700 seats, as well as a complete area for testing and validation of products of the company. The total built surface will be over 26,000 square meters, and the works will be completed until April ...

Dedeman to develop EUR 25-30 mln logistics park in Bacau

Wednesday, June 3, 2020

Dragos and Adrian Paval, the owners of local DIY retail chain Dedeman, continue their collaboration with local investor Ionut Dumitrescu. The three investors will develop a logistics park near Bacau after they initially collaborated to build the ELI Park 1 logistics park near Bucharest. The company Paval Holding, owned by Dragos and Adrian Paval, took over 80% of Eli 6 Industrial, the investment vehicle set up by Ionut Dumitrescu for developing the ...

Renault might relocate research and development activities out of RO

Wednesday, June 3, 2020

The activity of Renault Techologie Roumanie (RTR), the primary research and development center for the Renault group's entry platform - used for the Logan, Sandero, Duster, Lodgy and Dokker models, is called into ...

Bittnet becomes the first IT Company to enter BVB S main market 5 years after listing on AeRO

Wednesday, June 3, 2020

Bittnet shares will start trading on BVB’s Regulated Market on June 3rd, five years after the listing on the AeRO market of the Multilateral Trading System (MTS) of the Bucharest Stock Exchange (BVB). Bittnet thus becomes the first IT issuer present on BVB’s Main Market. “Bittnet is an example to be followed by most companies in Romania, it is a story of accelerated growth on the stock market, that accessed all the development ...

Sercin Giray is the new Managing Director of Bayer Romania

Wednesday, June 3, 2020

As of June 1st, 2020, Sercin Giray takes over the lead of Bayer Romania, Bulgaria and the Republic of Moldova from her predecessor Pascal Cassecuelle, who will continue his activity as Head of Supply Chain EMEA for our Cropscience Division. Sercin Giray is now the new Senior Bayer Representative for the Romania, Bulgaria and Republic of Moldova Country Group and Managing Director of Bayer Romania, adding up to her current responsibilities as CFO for ...

Coronavirus pandemic spurs reduction in steel production in Liberty Steel Group by 20-30 pct

Wednesday, May 27, 2020


   The Liberty Steel Group estimates a reduction of steel production by 20-30 pct, for a period of at least three months and at most a year, reduction which will also affect Romania, announced, on Monday, in Galati (southeast), during a press conference, Sanjeev Gupta, executive chair of GFG Liberty Steel, which also has in its portfolio the steelworks in Galati.Sanjeev Gupta mentioned however that the level and value of ...

Happeo opens office in Cluj-Napoca

Wednesday, May 27, 2020

Finnish startup Happeo, a provider of intranet services for companies, is preparing to enter Romania, with an office in Cluj-Napoca, for which it has already started recruiting. The company has attracted USD 12 million in a Series A financing round led by investment fund INKEF Capital. It will use the money to accelerate product development and expand its teams in the Netherlands, Finland, Romania, and the ...

EBRD launches research hub for listed SMEs in six markets, including Romania

Wednesday, May 27, 2020


The European Bank for Reconstruction and Development (EBRD) has launched a program under which it will provide free research reports about listed companies in six countries, including Romania. The program aims to increase the exposure of medium-sized listed companies in the selected countries. Funded by the TaiwanBusiness-EBRD Technical Cooperation Fund, the program will provide coverage by analysts for several medium-sized ...

Ideologiq - 40% increase in turnover in 2019

Wednesday, May 27, 2020

With over 15 years of experience in digital communication, Ideologiq agency reports a 40% increase in turnover in 2019 compared to 2018. In the current context, Ideologiq had a positive financial evolution in the first quarter of 2020, due to both an increased number of clients compared to the 2019 portfolio and to the fast adjustment to the new market context. “The speed of the change in the digital field is extraordinary and this is the aspect ...

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