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Competition Council: Pharmaceutical companies allowed to cooperate so as to prevent disruptions in medicines supply

Wednesday, April 15, 2020

The Competition Council gets in line with the European Commission's current policy of relaxation of the competition rules for pharmaceutical companies, the Competition watchdog said in a Monday release.According to the cited source, the European Commission has published a Temporary Framework Communication allowing agreements and exchanges of information between pharmaceutical companies in order to prevent disruptions in the supply of medicines essential in ...

Wizz Air announced 19% workforce reduction

Wednesday, April 15, 2020

Wizz Air has announced in a press release on Tuesday that,  “despite its best efforts, the company is taking the difficult step to make 1,000 positions redundant, representing a 19% workforce reduction”. Additional employee furlough measures have also been and will be taken in the short term as necessitated by the travel restrictions due the COVID-19 pandemic. It is also announced today that for the whole year of F21, the remuneration ...

Deutsche Telekom wants to sell its operations in Romania

Wednesday, April 15, 2020

German telecom group Deutsche Telekom is actively exploring the option of selling its operations in Romania to entities other than Orange Romania and Digi (the leading candidates so far), sources familiar with the talks ...

Number of suspended businesses down 27 pct Jan - Feb 2020

Wednesday, April 15, 2020

The number of companies that suspended their activity in the first two months of 2020 decreased by 27.13 pct from the same time of 2019 to 2,216, shows data released by the National Companies Registry Office (ONRC).As many as 1,023 businesses suspended their activity this February.Most companies that put their business on hold in the first two months of 2020 were from Bucharest, specifically 183 (down 37.76 pct from the same period of the previous ...

Bittnet Groups raised RON 9 M from BVB Investors

Wednesday, April 15, 2020

Bittnet Group, a group of companies providing IT Training as well as IT&C integration solutions, announces it has successfully closed capital increase operation and has raised 9 174 711,74 lei from Bucharest Stock Exchange Investors. The capital raised by the company will be used for investments, as specified in the company’s budget for 2020, as well as working capital. The operation was carried out in two steps, over the course of March and ...

Sales of Arctic company reach EUR 525 mln in 2019

Wednesday, April 15, 2020

Romanian refrigerator and washing machine manufacturer Arctic, part of Turkish group Arcelik, increased its sales by 9% in 2019, to RON 2.52 billion (EUR 525 million), Ziarul ...

Dacia plant to progressively restart production as of April 21, activity back to normal beginning May 4

Wednesday, April 15, 2020

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Carmaker Groupe Renault Romania announced this week that production will be progressively resumed at the Mioveni-based Dacia plant starting from April 21, and that the return to normal activity is planned for May 4."In agreement with the social partners and out of respect for the protection and safety of the employees, all the sanitary protection measures in force in Romania have been implemented in order to progressively resume the manufacturing activity on the ...

DriveNets to double staff at its Romanian office

Wednesday, April 15, 2020

DriveNets, an Israeli software producer specialised in software for networks, will double the number of employees in Bucharest, to 100 people by the end of 2020, the company has announced. The Center of Excellence in Bucharest is developed by DriveNets and by its local partner Tellence Technologies. During this period, the company estimates that the need for large-scale low-cost network solutions is increasing, with the COVID-19 ...

Online retailer eMAG to hire 1,000

Wednesday, April 15, 2020

Romania’s biggest online retailer and marketplace operator, eMAG, plans to hire 1,000 people in response to the sharp increase in online sales determined by the social restrictions imposed to limit the spreading of the Covid-19 pandemic. “We plan to employ 1,000 people in the coming period in warehouses, traditional courier, fast courier. These are permanent jobs. We want to invest,” said eMAG CEO Iulian ...

Zentiva completes takeover of Romanian Labormed

Wednesday, April 15, 2020

Prague-based pharmaceutical group Zentiva, which entered the Romanian market in 2005 by taking over the largest local generic drug producer - Sicomed, announced that it completed the takeover of local pharmaceutical producer Labormed under a regional deal. Zentiva Group has completed the acquisition process for Alvogen’s operations in Central and Eastern Europe (CEE), announced last year. The transaction contributes to the group's continued ...

Unemployment rate in hotels and restaurants reaches 60%

Wednesday, April 8, 2020

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The unemployment rate in hotels and restaurants has already reached  60% and risks to climb to 90% soon, considering the present conditions, representatives of the Federation of Patrons in Romanian tourism estimate. According to a press release sent by FPTR, the crisis caused by the coronavirus epidemics paralyzed activities in tourism. “Besides these jobless people, about 50,000 people are on a dramatic situation on ...

ONRC: the number of wound up companies has increased by almost 3.13% in the first two months of 2020

Wednesday, April 8, 2020

The number of wound up companies has increased by 3.13% in the first two months of 2020, as compared to the same period of the previous year, at 5,705 against 5,532 companies in January – February 2019, according to the data centralized by the National Office of the Commercial Register (ONRC).Most winding up were registered in Bucharest, namely 1,021 companies (up by 10.5% against the first two months of 2019) and in Brasov county (305, +100.66%), Constan?a ...

ONRC: Registrations of natural legal entities decrease 27.17pct in first two months of 2020

Wednesday, April 8, 2020

The number of registrations of natural legal entities decreased in the first two months of 2020 by 27.17pct, compared to the same period of 2019, to 21,106, of which 14,982 (71pct) were limited companies, according to data centralized by the National Trade Register Office.Most registrations were in Bucharest, respectively 3,484 (plus 14.95pct compared to January-February 2019), and in the counties of Cluj - 1,140 (plus 1.24pct), Iasi - 1,000 (minus 17.83pct) ) and ...

Blue Air asks for EUR 45 M state rescue aid

Wednesday, April 8, 2020

Blue Air has asked for a temporary state rescue aid of EUR 45 million to cope with the existing crisis, sources told Hotnews.ro. The airline officials argued that the company is paying taxes and fees of over RON 100 million on an annual basis, ...

Number of companies running on foreign capital drops 4.6pct in first 2 months of 2020

Wednesday, April 8, 2020

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The number of newly established companies running on foreign capital decreased by 4.6 percent in the first two months of 2020, compared to the similar period of 2019, to 892 units, according to data centralized by the National Office of the Trade Register (ONRC).The 892 new companies had a registered capital totaling 1.683 million US dollars, down 42.4 percent from January to February 2019.On 29 February 2020, the largest number of companies running on ...

Ford keeps its factory in Romania closed until beginning of May

Wednesday, April 8, 2020

U.S. carmaker Ford confirmed on April 3 that most of its European vehicle and engine factories, which suspended production on March 19, would remain closed at least until May 4. The announcement comes after Ford initially said that production would be temporarily suspended for a period of “several weeks,” in its main production units in Europe (Saarlouis and Koln, Germany; Valencia, Spain and Craiova, ...

Govt. ready to subsidise interest for EUR 3.1 bln loans to SMEs

Wednesday, April 8, 2020

Government will provide guarantees for investment and working capital loans extended by banks to microenterprises, small and medium sized enterprises, and will subsidise the related interest plus other fees. The budget of the program, which includes the interest, fees and insurance fees related to the loans, is estimated at RON 781 mln (EUR 161 ...

Coronavirus: Commission and European Investment Fund unlock €8 billion in finance for 100,000 small and medium-sized businesses

Wednesday, April 8, 2020

The European Commission has unlocked €1 billion from the European Fund for Strategic Investments (EFSI) that will serve as a guarantee to the European Investment Fund (EIF), part of the European Investment Bank Group. This will allow the EIF to issue special guarantees to incentivise banks and other lenders to provide liquidity to at least 100,000 European SMEs and small mid-cap companies hit by the economic impact of the coronavirus pandemic, for ...

Galati Steel Works introduces partial furlough

Wednesday, April 8, 2020

The Galati Steel Works will temporarily reduce activity and will introduce partial furlough for the coming period, an informative material sent on Friday by the company's communication director, Dorian Dumitrescu, shows."In the context of the economic drop at the world level, generated by the pandemic of the novel coronavirus, Liberty Galati announces that it has to temporarily reduce its activity and introduce, partially, furlough for the coming period. The ...

German business community asks Romanian Govt. to implement Kurzarbeit

Wednesday, April 8, 2020

German companies in Romania are generally unsatisfied with the measures adopted by the Government to support the economy and ask for more measures to be implemented, including the implementation of reduced and flexible schedule work, known in Germany as Kurzarbeit. “Most companies are aware of the measures taken by the Government in support of companies, but they are generally dissatisfied, considering them insufficient (50%) and not very useful ...

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