OMV Petrom Reports RON1.4B Net Profit, Down 6%, RON8.5B Turnover, Down 10% for Q1/2024 Vs Q1/2023
04.30.2024
OMV Petrom, Romania’s largest oil company, for the first quarter of 2024 reported RON1.4 billion net profit, down 6% from the year-earlier period, and RON8.5 billion turnover, 10% lower.
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Austrian Builder Strabag Posts 65% Production Volume Increase in Romania in 2023
04.25.2024
Austrian constructions company Strabag in 2023 registered a 65% increase in production volume, to EUR519 million, in parallel with a 13% reduction... more
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Sphera Franchise Group Opens Third KFC Restaurant In Pitesti
04.25.2024
Sphera Franchise Group, the company that manages KFC, Taco Bell and Pizza Hut restaurants locally, has opened its third KFC restaurant in the town... more
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Colliers: Number of Housing Units Sold in Bucharest Up 18% in Q1, Demand Rises 19% Nationwide
04.25.2024
The number of housing units sold in Bucharest in the first quarter of the year rose by 18% from the year-earlier period, while nationwide demand... more
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PepsiCo Installs over 1,300 Photovoltaic Panels on Romania Plants in $2.1M Investment
04.25.2024
PepsiCo, a major player on the snacks and beverages market, has completed works to install over 3,000 photovoltaic panels on Dragomiresti,... more
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STC Partners Starts Phase II of Quartier Azuga
04.25.2024
Real estate developer STC Partners is starting the development of phase II of housing compound Quartier Azuga, located to Tei area of Bucharest,... more
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JYSK Opens Store in Sinaia, Reaches 141 Units in Romania
04.25.2024
Scandinavian home furnishings retailer JYSK is expanding further in Romania with a store in Sinaia, thus reaching a network of 141 units locally. more
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Dedeman Owners Take Over Former Project ELI 4
04.25.2024
Paval brothers, owners of Dedeman, the biggest Romanian entrepreneurial business, took over, via Paval Holding, Asset Proiect Craiova SRL company,... more
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Parc Hotels Complex Ends 2023 With RON63.4M Turnover, Up 3% YoY
04.24.2024
The Parc Hotels complex, one of the largest hotel companies that includes four-star units Ramada Parc and Ramada Plaza located in northern... more
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Bucharest Stock Exchange To Distribute RON12.5M Dividends To Its Shareholders
04.24.2024
The Bucharest Stock Exchange (BVB.RO), the operator of the capital market in Romania, announced that during the April 24 meeting its shareholders... more
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Deloitte: Real Estate Companies In Central Europe Anticipate Increased Investment In 2024
04.24.2024
Half of the real estate companies in Central Europe (49%) estimate investment to increase in 2024 and only 19% expect a decrease (lower than 51% in... more
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Mega Image Owner Ahold Delhaize Announces Opening Of Technology Center In Bucharest
04.24.2024
Dutch-Belgian Ahold Delhaize Group, owner of the Mega-Image store chain in Romania, has announced the opening of a technology center in Bucharest... more
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Kearney: Romanian Banks Registered Above Average Income Growth Vs European Peers In 2023
04.24.2024
Romanian banks registered above average income growth versus European peers in 2023, but they still need to catch-up (even with some CEE peers) in... more
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OMV Petrom Approves Distribution Of RON2.6B Dividends From 2023 Net Profit
04.24.2024
Romania’s largest oil and gas producer, OMV Petrom, announced in a stock market report that its shareholders approved in their ordinary general... more
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Biofarm Shareholders Approve Distribution Of Dividends Worth Over RON30M, With 3.8% Yield
04.24.2024
In their ordinary general meeting of April 24, the shareholders of pharmaceutical producer Biofarm Bucuresti (BIO.RO) approved, among others, the... more
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Carbochim Cluj Napoca Eyes 20% Turnover Growth In Next Two Years, To Over EUR9M
04.24.2024
Carbochim Cluj-Napoca (CBC.RO), the largest professional abrasives manufacturer in Romania, plans to grow its turnover by 20% in the next two... more
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Dent Estet Has Invested EUR12m In Medical Infrastructure Since 2016
04.24.2024
Dent Estet, an actor on the Romanian dental clinic market, has invested over EUR12 million in medical infrastructure since 2016, reaching 18... more
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Cisco Study: Very Few Organizations Prepared To Defend Against Today’s Rapidly Evolving Threat Landscape
04.24.2024
Only three percent of organizations across the globe have the ‘Mature’ level of readiness needed to be resilient against modern cybersecurity... more
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OMV Petrom To Test Carbon Capture And Utilization Facility At Petrobrazi
04.24.2024
Romania’s largest oil and gas producer, OMV Petrom, will be testing a new carbon capture and utilization technology at the Petrobrazi refinery,... more
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Edward Cretescu Takes The Helm Of Romanian Employers Association In Software Industry
04.24.2024
The Romanian Employers Association in the Software Industry (ANIS) has a new president, Edward Cretescu, CEO of Regista, and a new Board of... more
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Lucian Pruna Takes Over The Helm Of Mogo Romania
04.24.2024
Mogo Romania, a company specializing in financing used vehicles and part of the international Eleving Group, on April 24 announced in a press... more
The European Bank for Reconstruction and Development (EBRD) is lending EUR50 million to UniCredit Leasing Corporation to support micro,
more39% of respondents in Romania anticipate a significant drop in housing prices over the next six months, 27% expect a slight decrease,
moreOMV Petrom, the largest integrated energy company in Southeast Europe, will build, in partnership with Complexul Energetic Oltenia (CE
moreThe European Commission (EC) sent letters of formal notice to Bulgaria, Ireland, Poland, and Romania for failing to notify their
moreRomania has almost 142.000 employees in the local IT sector, of whom some 98,000 work in Bucharest, Cluj and Timis, according to Ziarul
moreFiscal deficits will remain elevated in Romania in the medium term: 4.7% of GDP (cash basis) in 2024, compared to the 2.9% target set
moreBanks’s profitability will remain subdued over the next year, because of an unprecedented mix of factors including Russia’s
moreRomania’s Energy Ministry on Monday (Oct 10) signed the first nine contracts funded through the Modernization Fund, in the amount of
moreAnalysis
Survey: Romania Could Increase Its GDP By 10% Until 2050 By Boosting SavingsRomania could increase its gross domestic product (GDP) by 10% until 2050, generating an additional contribution of EUR575 billion by boosting savings and redirecting them towards lucrative investments, according to a survey conducted by McKinsey&Company in spring 2022.