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TeraPlast Recycling Completes Merger By Absorption Of Politub

Fri, 03 Jul 2020 15:04:00 GMT

Building materials manufacturer TeraPlast Bistrita (TRP.RO) on Friday informed its shareholders about the completion of the proceedings of merger by absorption between its subsidiaries TeraPlast Recycling S.A. and Politub S.A., through the absorption by TeraPlast Recycling S.A. of Politub S.A.

Lactalis Closes Floreni, Vatra Dornei Plants; Continues To Produce LaDorna Dairy Products At Albalact, Covalact Plants

Fri, 03 Jul 2020 14:14:00 GMT

Lactalis Group has decided to close its Romanian Floreni and Vatra Dornei factories, included in the portfolio of the company Dorna Lactate, but will continue to produce LaDorna-branded dairy products at its two other Romanian factories, namely, the Albalact plant in Oiejdea (Alba County) and the Covalact plant in Sfantu Gheorghe (Covasna County).

German Companies in Romania See Revenue Decline, Recovery in 2021 at the Earliest

Fri, 03 Jul 2020 08:27:34 GMT

German companies operating in Romania expect significant declines in turnover and see the economy recovering in 2021 at the earliest, according to a recent poll by AHK Romania, the Romanian-German chamber of commerce and industry.

World Bank Promotes Romania to High Income Group

Fri, 03 Jul 2020 08:08:04 GMT

The World Bank has reclassified Romania as a high-income country from the upper-middle income category after incorporating 2019 data.

Transgaz Seeks RON300M Working Capital Loan

Fri, 03 Jul 2020 07:57:04 GMT

Romania's natural gas transmission company Transgaz (TGN.RO) plans to borrow RON300 million for a two-year period to finance its working capital.

Kingfisher Opens Construction Materials Outlet Near Bucharest

Fri, 03 Jul 2020 07:51:58 GMT

UK's Kingfisher, owner of DIY retail chain Brico Dépôt, has opened a construction materials outlet center in Chiajna, near Bucharest.

Romanian Households Reach Net Wealth of RON2,157B in 2019

Fri, 03 Jul 2020 07:42:44 GMT

Romanian households’ net wealth reached RON2.157 trillion (over EUR450 billion) at the end of 2019, with real estate assets accounting for 80%, central bank data showed.

Dacia Returns to Growth in France; Registrations Grow 9% in June

Fri, 03 Jul 2020 07:14:54 GMT

Romanian carmaker Dacia, owned by France's Renault, registered growth in new registrations in France in June for the first time in 2020, after double-digit decline in January-May.

EFSI Mobilized EUR514B In Additional Investment Across The EU Since July 2015

Thu, 02 Jul 2020 17:52:17 GMT

The European Fund for Strategic Investments (EFSI) has mobilized EUR514 billion in additional investment across the EU since July 2015 -- reaching its target half a year before the end of the initiative, the European Commission said.

European Commission Approves EUR800M Scheme To Support Crisis-Hit Businesses In Romania

Thu, 02 Jul 2020 15:06:17 GMT

The European Commission (EC) has approved an approximately EUR800 million aid scheme to support companies in Romania that had been affected by the coronavirus pandemic.

Minister: Romania’s Food Products Trade Deficit Reaches EUR1.4B

Thu, 02 Jul 2020 13:40:38 GMT

Romania’s food products trade deficit has reached EUR1.4 billion, Agriculture minister Adrian Oros said Thursday, adding the ministry he runs seeks to build eight regional warehouses for agri-food products.

Carrefour Launches New Store Concept In Bucharest - Bonteria Very & So

Thu, 02 Jul 2020 13:12:00 GMT

French Carrefour Group has launched a new store concept in Bucharest, Bonteria Very & So, specialized in perfumes, make-up products, cosmetics, hair-care products, eco-friendly home cleaning products, sanitation and hygiene products, as well as children’s products.

Accor Announces New Ibis Hotel Near The Future Terminal 2 Of Henri Coanda International Airport

Thu, 02 Jul 2020 12:34:55 GMT

Accor Group has signed a management agreement with Alexandra Residence Design to open a 144-room ibis hotel, by end-2022, in the vicinity of the future Terminal 2 of Henri Coanda (Otopeni) international airport, per a press statement.

McDonald’s Seeks To Hire 700 People At Its Romanian Restaurants

Thu, 02 Jul 2020 11:59:15 GMT

Premier Restaurants Romania, which operates McDonald’s restaurant chain, is carrying out a recruitment campaign across Romania, offering over 700 jobs in the 26 towns and cities in which it operates, among which Bucharest, Cluj-Napoca, Constanta, Piatra Neamt, Pitesti, Focsani, Satu Mare, Oradea and Deva.

Romania's Electricity Market Seen Nearing RON42B in 2020

Thu, 02 Jul 2020 11:57:37 GMT

Romania's electricity market, including production, transport, trade and distribution, is estimated to near RON42 billion this year, after an estimated RON41 billion in 2019 and over RON40billion in 2018, an analysis by KeysFin showed Thursday.

ING: Four in 10 Romanians Spent Less, Three in 10 Saved More in Lockdown

Thu, 02 Jul 2020 11:41:26 GMT

Approximately 46% of Romanians said they spent less during the coronavirus lockdown, above the EU average of 44%, and 31% said they saved more, similar to the EU average of 30%, according to a global survey by ING conducted in May.

PwC: Oil&Gas Firms Expect Digitization To Boost Their Revenue By 10%, Reduce Costs By 8.5%

Thu, 02 Jul 2020 11:26:46 GMT

Oil and gas (O&G) companies anticipate digital applications will deliver on average a 10% increase in revenue due to increased production and reduced time to project start-up, and an 8.5% decrease in costs from improved operational efficiency, over the next five years, per PwC’s ”2020 Digital Operations study for oil and gas” report.

Raiffeisen Bank Approves 1,000 Loans Worth RON500M Via IMM Invest Romania Program

Thu, 02 Jul 2020 10:19:19 GMT

Raiffeisen Bank has approved 1,000 loans through the IMM Invest government program, in the amount of RON500 million.

Bucharest Court Dismisses SAPE's Claim of EUR800M from Electrica

Thu, 02 Jul 2020 09:19:54 GMT

The Bucharest Court has issued a definitive ruling dismissing a claim by Romania's Energy Shareholdings Administration Association (SAPE) of EUR800 million from utility group Electrica.

Affidea Appoints Razvan Predica Country Manager of Romanian Operations

Thu, 02 Jul 2020 09:01:33 GMT

Affidea group, the largest player on the local medical imaging services market, said Thursday it has appointed Razvan Predica in the position of Country Manager for all Romanian operations.