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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Finance Ministry Raises RON652M From Banks On January 29
01.29.2024
Romania's Finance Ministry raised RON652 million from banks on Monday (January 29, 2024) selling bonds with a nominal value of RON500 million due... more
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SIF Muntenia And Sea Container Services Set To Take Over 8.8% In Santierul Naval Orsova
01.29.2024
Shipbuilder Santierul Naval Orsova (SNO.RO) has informed the local stock market on Monday (January 29) that the Financial Supervisory Authority... more
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0.15% In Hidroelectrica Change Hands In RON84M Deal
01.29.2024
On Monday, January 29, a special transaction (DEALS) with shares of green power producer Hidroelectrica (H2O.RO) worth RON84.2 million was... more
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Statistics Board: Romanian Managers Expect Stable Economic Activity In January-March 2024
01.29.2024
Romanian executives forecast a period of relative stability in manufacturing industry, retail trade and services, in parallel with a moderate... more
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Moneycorp: More Than Half Of Businesspeople Believe Romania's Economy Will Enter Technical Recession In 2024
01.29.2024
Businesspeople look with concern at the prospects of 2024, against the background of the increase in operational costs and the evolution of... more
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Adrem Borrows over RON32M from ING for Development
01.29.2024
Adrem group, a major local entrepreneurial business providing services and solutions for the energy and industrial sector, has contracted an over... more
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CFA Analysts Forecast 5.78% Inflation, Expect Leu to Reach 5.0781 Units Per Euro in Next 12 Months
01.29.2024
Financial analysts part of CFA Romania association estimate the Romanian currency will fall to an average exchange rate of 5.0781 units/euro in the... more
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TARA Interactive Aims to Expand to Middle East
01.29.2024
Romanian company TARA Interactive, specialized in software development, plans to expand its activity to the Middle East, Vlad Lepadatu, managing... more
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WDP’s Romania Projects Generate over EUR72M Revenues in 2023
01.29.2024
WDP’s Romania projects in 2023 generated revenues of above EUR72 million, in line with the company’s report. more
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Conpet Ploiesti Budgets 8% Higher Revenues, but 28% Lower Profit for 2024
01.29.2024
Romanian state-owned oil transporter Conpet Ploiesti included in its 2024 revenues/expenses budget the sum of RON588.7 million for revenues, namely... more
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Serban Group Holding Has EUR20M Projects in Progress
01.29.2024
Entrepreneurial company Grup Serban Holding, active in several fields of agriculture, has investments of around RON100 million (the equivalent of... more
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Romania’s Largest Airports Have Investments of almost EUR670M Underway
01.29.2024
Romania’s biggest airports, including those of Iasi, Cluj, Timisoara, Sibiu and Craiova, are set to complete investments of almost EUR670 million... more
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Hidroelectrica Estimates All-Time High Profit Of RON6B For 2023
01.26.2024
Electrical power producer Hidroelectrica (H2O.RO), the most profitable state-owned company in Romania, included a preliminary net profit of RON6.02... more
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Monza CEO Luca Militello Bets EUR500,000 On Expansion Of Sciccheria Restaurant Brand
01.26.2024
Luca Militello, the CEO of the privately owned Monza health group, along with his wife and other partners, is betting EUR500,000 on expanding the... more
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Specialty Café Chain Boiler Opens Seventh Coffee Shop
01.26.2024
Specialty café chain Boiler has reached seven stores in Bucharest after the company opened a new one in the Casa Presei Libere area, a... more
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Bankrupt Wire Plant Dan Steel Group Finds Buyer
01.26.2024
Bankrupt wire factory Dan Steel Group Beclean, one of the most important companies in the Romanian metallurgical industry, has been sold in a... more
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Metropolitan Life Pensii Private Owns More Than 5% In Transport Trade Services
01.26.2024
Danube freight carrier Transport Trade Services (TTS.RO) notified investors on Friday about a shareholder exceeding the 5% stake threshold. That... more
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Eldrive Holding Set to Install 4,376 EV Charging Stations in Romania
01.26.2024
The European Investment Bank has sealed a EUR40 million loan agreement with Austria’s Eldrive Holding, controlled by Bulgarian investors, for the... more
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DIY Retailer Leroy Merlin Sees Turnover Rise 3% in 2023 YOY
01.26.2024
Leroy Merlin, the second largest DIY retailer locally by turnover, in 2023 boosted turnover by 3% against 2022. more
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Cristian Erbasu Operates EUR12M Investments in 2023
01.26.2024
Constructii Erbasu, a company owned by entrepreneur Cristian Erbasu, in 2023 earmarked around EUR12 million for investments, with part of the money... 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.