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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Grain Trader East Grain Reports over RON700M Turnover for 2023
02.19.2024
Grain trader East Grain of Cluj-Napoca, controlled by Czechia’s Agrofert, ended 2023 with turnover worth RON701 million (EUR141.7 million) and... more
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Metallic Tile Maker Metigla Sees 2023 Turnover Rise YOY
02.19.2024
Metallic tile manufacturer Metigla, with a plant in Prahova county, ended 2023 with higher turnover from 2022, with structures needed for the... more
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Evergent Investments Ends 2023 with RON200M Net Profit, Up 73% YOY
02.19.2024
Alternative investment fund Evergent Investments in 2023 registered a RON200 million net profit, 73% higher than in 2022, while assets under... more
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Intesa Sanpaolo Rakes in EUR7M Net Profit in Romania, Above 2022 Level
02.19.2024
Intesa Sanpaolo Romania, the local subsidiary of the Italian banking group of the same name, in 2023 generated net profit worth EUR7 million. more
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Competition Council Assesses Takeover Of Greenvolt Energias Renovaveis By GVK Omega SGPS Unipessaol Lda
02.17.2024
Romania's Competition Council said it was assessing an operation whereby GVK Omega SGPS Unipessaol Lda intends to take over Greenvolt Energias... more
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Competition Council Assesses Takeover Of Romanian Software By Belgium's SD Worx People Solutions NV
02.17.2024
Romania's Competition Council announced on Friday (Feb 16) that it was looking into an operation through which SD Worx People Solutions NV intends... more
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Optima Group Establishes Board Of Advisors Made Up Of French Entrepreneur And Two Romanians
02.16.2024
Optima Group, a leader in software solutions and B2B provider of inventory and assets services, has announced the establishment of a Board of... more
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ING Bank Romania Mobilized Over EUR1B In Sustainable Transactions With Bonds And Loans In 2023
02.16.2024
ING Bank Romania supported bonds and loans (syndicated or bilateral) of more than EUR1 billion in sustainable transactions in 2023, compared to... more
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PepsiCo Romania Appoints Alexandra Rîştariu As Organized Trade Director
02.16.2024
PepsiCo has announced the appointment of Alexandra Rîstariu to the position of Organized Trade Director. more
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Impact Developer & Contractor Raises Over EUR1M In First 72 Hours Since Bond Offer Launch, Targets EUR3M
02.16.2024
Real estate developer IMPACT Developer & Contractor (IMP.RO) has raised over EUR1 million in the first 72 hours of issuing a bond offer ongoing... more
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Romania’s Crude Oil Production Drops 4.4% YoY In 2023
02.16.2024
Romania produced a quantity of crude oil of 2.795 million tons of oil equivalent (toe) in 2023, fewer by 129,200 toe (-4.4%) than in the same... more
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Mandatory Private Pensions Funds In Romania Boost Their Ownership In OMV Petrom By Nearly 3% In 2023 To 14.2%
02.16.2024
The mandatory private pension funds in Romania (Pillar II) in 2023 increased by nearly 3% their ownership stake in OMV Petrom (SNP.RO), the sole... more
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European Commission Revises Romania' Economic Growth Forecast Down To 2.9% In 2024, Expects 5.8% Annual Inflation
02.16.2024
The European Commission, in its Winter Forecast on February 15, revised downwards its forecast for Romania’s economic growth to 2.9% for 2024 and... more
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Transilvania Investments Alliance Ends 2023 With RON232M Net Profit, Almost Fourfold Higher Than In 2022
02.16.2024
Transilvania Investments Alliance (TRANSI.RO), an alternative investment fund listed at the Bucharest Stock Exchange, ended 2023 with net profit of... more
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Bencomp Set to Build WPC Door Plant in in Buzau in EUR4M Investment
02.16.2024
Mihai Posedaru, manager of Bencomp SRL Buzau, a Romanian producer of WPC profiles, says he is developing a new production facility, a WPC door... more
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France’s Saint-Gobain Completes Works for New Turda Plasterboard Line, in EUR50M Investment
02.16.2024
French-held group Saint-Gobain, which owns several mainly building materials plants in Romania, in the first half of 2023 finalized investments in... more
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Aro Palace Takes First Step Towards Sealing Franchise Agreement With International Hotel Group Hyatt
02.16.2024
Aro Palace, the company that manages hotels in Brasov, has announced the first step towards striking a franchise agreement with international group... more
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Pras Consulting Ends 2023 With 62% Higher Turnover, Of EUR6.8M
02.16.2024
Pras Consulting, a provider of IT solutions and services, ended 2023 with a 62% surge in turnover vs 2022, to over EUR6.8 million, which was nearly... more
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US Software Company TaxDome Enters Romanian Market, Eyes EUR125,000 Turnover In 1st Year Of Activity
02.16.2024
TaxDome, a software company founded in 2017 in New York, is entering the Romanian market, as the local business landscape indicates accelerated... more
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Orange Romania Reports EUR1.55B Turnover For 2023, Down 1.2% YoY
02.16.2024
Orange Romania, the leader of the local telecom market, reported turnover of EUR1.551 billion for 2023, down 1.2% on the year. 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.