Romania Forex Reserves Shrink To EUR62.5B In April 2024
05.02.2024
Romania's foreign exchange reserves stood at EUR62.5 billion at the end of April 2024, lower by EUR1.7 billion compared with EUR64.2 billion on March 31, 2024, central bank data showed on Thursday (May 2, 2024).
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Romania’s Modern Retail Space Stock Stands At More Than 4.3M Sqm
02.23.2024
Romania has a total modern retail space stock of more than 4.3 million square meters, of which over 2.7 million square meters are malls and the... more
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OVES Enterprise Invests EUR100,000 In Small Drone Manufacturing Line
02.23.2024
OVES Enterprise, a software development company and drone manufacturer, is expanding its drone production and investing EUR100,000 in a new line... more
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Uber Launches UberX Share In Romania
02.23.2024
US-held Uber, which operates one of the largest mobility platforms worldwide, on Thursday announced the launch of UberX Share service in Romania,... more
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Pepco Could End 2024 With 500 Stores If Expansion Continues At Same Pace
02.23.2024
Fashion discount store chain Pepco, Romania's leading fashion retailer by sales in 2022, according to the latest public data, could end the year... more
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Kaufland Opens Fifth Store In Constanta, Grows To 175 Hypermarkets In Romania
02.23.2024
German-held retailer Kaufland has opened its fifth store in Constanta, bringing its network to 175 stores in Romania. more
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Tech Company Blankfactor Leases 35TH Floor Of SkyTower In Bucharest
02.23.2024
Blankfactor, a global provider of technology and end-to-end digital transformation services for financial services, has leased the 35th floor of... more
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C&A Only Works With Five Apparel Plants In Romania Now
02.23.2024
Fashion group C&A, which has over 1,300 stores in 17 countries around the world, is still working with only five partner factories in Romania that... more
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Nestlé Romania Sees 18.8% Organic Growth In 2023
02.23.2024
Nestlé Romania posted organic growth in sales of 18.8% in 2023 compared with the previous year, the company said. more
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Transilvania Broker De Asigurare Ends 2023 With RON7.6M Net Profit
02.23.2024
Transilvania Broker de Asigurare (TBK.RO), one of the largest insurance brokers in Romania, ended 2023 with a net profit of RON7.6 million, down... more
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Transport Trade Services Seeks To Buy Back Shares Up To RON12.6M
02.23.2024
Danube freight carrier Transport Trade Services (TTS.RO), on Thursday notified the Bucharest Stock Exchange about its management having approved... more
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Finance Ministry Raises RON340M From Banks On February 22, 2024
02.22.2024
Romania's Finance Ministry raised RON340 million from banks on Thursday (February 22, 2024), selling benchmark bonds with a scheduled value of... more
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GapMminder Launches New EUR80M Investment Fund For Tech Startups
02.22.2024
Technology startups from Romania, the Republic of Moldova, Serbia, Croatia, Slovenia and Bulgaria will be able to get funding through GapMinder... more
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Active Plus Lowers Lion Capital Stake By Almost 5%
02.22.2024
Active Plus, a fund managed by Swiss Capital Asset Management, has reduced its stake in investment fund Lion Capital (LION.RO) from 5.12% to 0.19%,... more
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Telekom Romania Mobile Revenue Slightly Down In Q4'23, Significant Improvement On Previous Quarters
02.22.2024
Telekom Romania Mobile (TKRM), the fourth mobile telephony operator in Romania, posted EUR77.5 million revenue in the fourth quarter of 2023, up... more
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Romanian Tech Startup DRUID Reports $13M ARR in 2023
02.22.2024
DRUID AI, the tech startup founded by entrepreneur Liviu Dragan in 2018, in 2023 registered annual recurrent revenues worth $13 million. more
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C&W Echinox: Real Estate Deals worth over EUR600M Are Under Advanced Negotiations; 2023 Traded Volume Likely to be Matched in 1H/2024
02.22.2024
Deals with commercial real estate assets worth above EUR600 million are currently under advanced negotiations, so that the volume traded in 2023 is... more
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2Performant 2023 Net Profit Trebles To around RON900,000
02.22.2024
Tech company 2Performant Network, the biggest player on Romania’s affiliated marketing market, reported net profit of RON869,432 at the end of... more
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Raiffeisen Bank Romania Ends 2023 with RON1.7B Profit, Up 39% YOY, RON3.7B Income, 16% Higher
02.22.2024
Raiffeisen Bank Romania in 2023 posted income worth RON3.7 billion, up 16%, and net profit worth RON1.7 billion, 39% higher than in 2022. more
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Turkey’s Karsan Otomotiv Set to Deliver 11 Electric Buses to Satu Mare City Hall for RON64M
02.22.2024
Turkey’s Karsan Otomotiv Sanayi Ve Ticaret A.S. has gained a contract worth RON64.2 million (around EUR13 million) with Satu Mare city hall for... more
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Revolut Set to Launch Mortgage Loans and Savings Accounts
02.22.2024
Victor Stinga, the interim CFO of Revolut, said the fintech wants to launch mortgages and savings accounts as a rising number of European clients,... 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.