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Three-Month ROBOR Jumps To 6.41% On June 29

Wed, 29 Jun 2022 09:15:16 GMT

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has increased to 6.41% a year on Wednesday (June 29) from 6.28% on Tuesday (June 28), as per central bank data.

Jewelry Chain Teilor Wants to Invest RON27M in Expansion

Wed, 29 Jun 2022 07:52:51 GMT

Teilor, a luxury jewelry store chain present in Central and Eastern Europe, has budgeted RON27 million investments for 2022 to open new units, improve existent stores and clients’ omnichannel experience.

Restaurant Chain Spartan Takes Over 5 Taksim Units in Bucharest for EUR1M, Negotiates Takeover of Other 3

Wed, 29 Jun 2022 07:43:20 GMT

Spartan, the restaurant chain founded by businessman Stefan Mandachi, sealed an agreement to take over five of Taksim units of Bucharest, for EUR1 million, and is in advanced talks to also buy the other three Taksim units of the capital city.

CFA Analysts Expect GDP Growth of 2.9% in 2022, See Leu at 5.11 Units/Euro, Annual Inflation At 9.5% in Next 12 Months

Wed, 29 Jun 2022 07:31:00 GMT

Financial analysts part of CFA Romania association expect the Romanian leu to decline to an average of 5.1125 units to the euro in the next 12 months, while the estimated inflation rate will hit on average 9.50%, a new all-time high since the launch of the monthly poll CFA has conducted for over ten years.

Cora Set to Retrofit All Hypermarkets in Bucharest and One in Constanta

Wed, 29 Jun 2022 07:09:39 GMT

Cora retailer, the smallest player in the local food retail field by the number of stores and turnover, is remodeling its hypermarkets of Bucharest and one of Constanta, downsizing them and reconfiguring product ranges in what seems to be a first major move on the segment of large stores.

Chairry Design & Furniture Set to Lease 240-Sqm Space in UpGround Compound

Wed, 29 Jun 2022 06:55:37 GMT

Interior design company Chairry Design & Furniture is leasing a 240-sqm space in UpGround compound owned by international investor Globalworth, in northern Bucharest.

ROTSA Launches Incubation Platform For Early-Stage Technology Startups In CEE

Tue, 28 Jun 2022 16:41:21 GMT

Romanian Tech Startups Association (ROTSA), in partnership with Techcelerator and Rōnin, launched Startup Reaktor, an incubation platform for technology startups in Central and Eastern Europe (CEE).

EIB To Grant EUR97M Co-Financing To Protect Romanian Black Sea Coast From Erosion And Floods

Tue, 28 Jun 2022 16:33:25 GMT

The European Investment Bank (EIB) on Tuesday announced a EUR97 million co-financing to support the resilience of Romanian Black Sea coast to erosion and floods.

Transelectrica: First Electricity Trading With Ukraine And Moldova To Be Made On June 30

Tue, 28 Jun 2022 16:27:12 GMT

The first commercial exchanges with electricity with Ukraine and the Republic of Moldova, after the synchronization with the European network, will be carried out starting Thursday (June 30), on the interconnection with Romania, according to Romanian state-owned power grid operator Transelectrica (TEL.RO).

InstantSpace Launches Booking Platform; Raises EUR500,000 In New Funding Round

Tue, 28 Jun 2022 16:09:32 GMT

Startup firm InstantSpace has launched its automated booking platform that makes booking of venues and services easy and instant.

Colliers: Rising Construction Costs Impact Delivery Rate Of New Office Space Projects

Tue, 28 Jun 2022 15:14:10 GMT

The increase in construction costs will influence the delivery rate of new office space projects, with many real estate developers preferring to delay construction works to see to what extent the extra cost can be absorbed by higher rents, real estate consulting firm Colliers said in an analysis.

European Commission Revises Its Forecast On Romania's Wheat Crop Downwards

Tue, 28 Jun 2022 14:22:41 GMT

For the third month in a row, the European Commission is revising its forecast downwards for Romania's winter crops, including the grain production, while increasing at the same time its forecast for the country's sunflower crop.

Banca Transilvania Sees Romania’s Economy Growing 3.8% In 2022

Tue, 28 Jun 2022 11:46:00 GMT

Banca Transilvania, Romania’s largest lender by assets, has revised upwards the country’s economic growth forecast to 3.8% in 2022, from its previous projection of 3.5%, and versus the 2.9% forecast of the Ciuca government.

Survey: Over 60% Of Companies Only Experimenting With Artificial Intelligence

Tue, 28 Jun 2022 09:01:36 GMT

While the majority of organizations that use artificial intelligence (AI) are still experimenting with the technology, only 12% are using it at an AI maturity level that achieves a strong competitive advantage, according to new global research from Accenture.

Deloitte: Most Working Women Face Increased Stress

Tue, 28 Jun 2022 08:53:05 GMT

The level of stress faced by more than half of working women (53%) is higher than a year ago, and 46% say they are exhausted, according to Deloitte’s Women @ Work 2022 study conducted globally.

Three-Month ROBOR Climbs To 6.28% On June 28

Tue, 28 Jun 2022 08:27:23 GMT

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has increased to 6.28% a year on Tuesday (June 28) from 6.26% on Monday (June 27), as per central bank data.

iFactor Readies to Open New Funding Round

Tue, 28 Jun 2022 07:33:06 GMT

Local startup iFactor, which has developed an online alternative funding platform for SMEs, is readying to open a new funding round that is set to aid it expand on the UK market as well.

Remedia Aims for 30% Higher Turnover in 2022, To RON621M

Tue, 28 Jun 2022 07:22:56 GMT

Farmaceutica Remedia, a major group on Romania’s pharma market, owned by entrepreneur Valentin Tarus, has budgeted RON621.5 million turnover in 2022, up 30% on the year.

Bihor-based Drum Asfalt Set to Carry Out EUR1M Investments by Yearend

Tue, 28 Jun 2022 07:16:43 GMT

Building company Drum Asfalt of Bihor, owned by Floare Petroi, has EUR1 million investments underway by yearend, with the money set to be directed to work equipment and personnel.

TTS Set to Modernize Giurgiu Harbor Section in RON24M Investment

Tue, 28 Jun 2022 07:06:24 GMT

Transport Trade Services (TTS), the biggest freight shipper on the Danube, listed on the Bucharest Stock Exchange, has got the greenlight for the funding of a project related to the modernization of Giurgiu harbor infrastructure, in Ramadan area, via EU funds, in a total investment worth RON23.8 million (EUR4.9 million), according to the company’s officials.