ZF

Antitrust Watchdog Clears Transaction Involving Several Companies In Wind Power Sector

Mon, 26 Sep 2022 18:41:36 GMT

Romania’s Competition Council on Monday (Sept 26) announced that it approved the takeover of several companies in the wind energy sector by GIP Gutenberg.

Domeniile Ostrov Sales Rise 7% to RON20M in H1

Mon, 26 Sep 2022 18:31:15 GMT

Domeniile Ostrov, a 1,300-hectare vineyard in Constanta County, located on the right bank of the Danube, on the Romanian border with Bulgaria, posted sales of RON20 million in the first six months of 2022, up 7% from the same period last year, company representatives say.

Fortim Trusted Advisors: Investors Exponentially Increased Number Of Retail Parks In Last Three Years

Mon, 26 Sep 2022 18:03:00 GMT

The ranking of cities with the most modern commercial spaces is led by capital Bucharest which is followed by Timisoara, Cluj-Napoca, Iasi, Constanta and Brasov, considering that investors exponentially increased the number of retail parks and the total surface area of new spaces delivered in shopping centers over the last three years and for 2022, it is estimated a record area, as per data from Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance.

Romania Officially Requests EUR4B From EIB For Investments In Health And Transport Sectors

Mon, 26 Sep 2022 17:29:00 GMT

The European Investment Bank on Monday (Sept 26) announced that Romania has formally requested a co-financing of EUR4 billion for investments in the country's heath and transport sectors.

Chimcomplex Lays Off 400 People

Mon, 26 Sep 2022 16:49:55 GMT

Chimcomplex (CHOB.RO), which owns the Oltchim and Borzesti chemical plants in Romania, has notified the Bucharest Stock Exchange of a planned collective redundancy program, which will include 396 employees, in an attempt to cope with rising power prices, as the group is one of the largest consumers of natural gas in the country.

IMF Revises Upwards Romania’s GDP Growth Forecast To 4.8% In 2022

Mon, 26 Sep 2022 16:49:38 GMT

The International Monetary Fund (IMF) has revised upwards its forecast on Romania’s economic growth to 4.8% for 2022, from a previous projection of 3.5% in summer.

S&P: Ukraine War Prompts Entrepreneurs Across Major Industries To Cut Production And Sales Forecasts

Mon, 26 Sep 2022 16:08:02 GMT

The war in Ukraine has caused entrepreneurs in major industries to reduce production and sales forecasts for the next two years, according to international rating agency Standard&Poor’s (S&P) Global Ratings.

U.S. Dollar Hits Fresh High Versus The Leu; Exchange Rate At 5.1135

Mon, 26 Sep 2022 15:20:36 GMT

The US dollar hit a new record high against the Romanian currency on Monday (Sept 26), as the central bank’s average reference rate stood at 5.1135 lei to the dollar.

ROCA Industry Adds Harsova-Based Company Dial To Its Portfolio

Mon, 26 Sep 2022 13:20:00 GMT

ROCA Industry, the construction material holding company of ROCA Investments, continues to expand its portfolio along with the completion of the transaction set off in April 2022 whereby it fully acquired wire product manufacturer Dial based in the locality of Harsova (Constanta County).

Connections Consult's Operating Income Up 21% YoY To RON20.8M In 1H/2022

Mon, 26 Sep 2022 12:10:45 GMT

Connections Consult (CC.RO), a Romanian company specialized in providing software and IT services, said in a stock market report that it ended the first half of 2022 with operating income of RON25.2 million, up 21% from RON20.8 million reported in the same interval of 2021.

PepsiCo Invests $100M In Snacks Factory Near Capital Bucharest

Mon, 26 Sep 2022 10:46:18 GMT

PepsiCo, one of the leading global food and beverage companies, on Monday announced a $100 million investment in three new operational production lines and a new automated warehouse, automation capabilities, and a new masterplan at its factory in Popeşti-Leordeni factory, near capital city Bucharest.

DN Agrar 1H/2022 Turnover Soars 241%Vs Year-Earlier Period To RON62.4M

Mon, 26 Sep 2022 07:59:23 GMT

DN Agrar, a Dutch-held group of firms operating in the fields of animal husbandry, farm production, farming services, logistics, transportation, tourism and advisory services, registered turnover worth RON62.4 million in the first half of 2022, up 241.4% from the year-earlier period.

German-held Builder Geiger Doubles Profit in 2021

Mon, 26 Sep 2022 07:21:41 GMT

German-held building company Geiger Transilvania in 2021 generated net profit of RON18 million (EUR3.7 million), double the 2020 level.

Lithuania’s Investment Fund INVL Buys New Solar Power Projects in Romania

Mon, 26 Sep 2022 07:14:52 GMT

INVL Renewable Energy Fund I, managed by Lithuania’s INVL Asset Management, has bought another 6 solar power projects in Romania, with a capacity of around 103 MW, thus holding around 269 MW in solar parks locally.

Romania, Among Countries with Best Results for Ireland’s CRH in 1H/2022

Mon, 26 Sep 2022 07:03:24 GMT

Cement producer Romcim, part of Ireland’s CRH, registered solid results in East-European countries in the first six months of this year, with Romania and Poland in particular boasting high sales.

ArcelorMittal Hunedoara Losses Double to RON42.7M in H1

Fri, 23 Sep 2022 16:26:44 GMT

ArcelorMittal Hunedoara (SIDG.RO), the steel mill owned by ArcelorMittal group, recorded a loss of RON42.7 million in the first half, up from the RON19.3 million in the same period of 2021, the half-year report published on the Bucharest Stock Exchange shows.

Romania Private Lending Growth Slows Down to 15.9% YoY in August

Fri, 23 Sep 2022 13:25:01 GMT

Private lending in Romania grew by 15.9% in August 2022 compared with August 2021 to RON359 billion, as local currency lending increased by 16.8% and foreign currency lending expressed in lei by 13.8%, central bank data showed on Friday.

ANCOM Expects at Least EUR450M from 5G Auction This Fall

Fri, 23 Sep 2022 10:10:17 GMT

The authorities in Bucharest expect the largest sale of radio frequency spectrum since 2012, the so-called 5G auction to be held this fall, to start from an about EUR450 million price, as the potential slide into recession, the rising inflation, and especially power prices are dulling the appetite of telecom giants to buy the entire amount of licenses offered, whose starting price is EUR693 milion

Germany’s Optibelt Hits EUR39.4M Turnover in 1H/2022, Up 31% from 1H/2021

Fri, 23 Sep 2022 07:10:47 GMT

Car parts producer Optibelt Power Transmission of Tautii-Magheraus, Maramures county, the local subsidiary of Germany’s Arntz Optibelt, ended the first half of this year with EUR39.45 million, up 31% from the year-earlier period.

Cluj-Napoca-Based Builder Wincon Set to Invest EUR5M to Expand Production Capacity at Plant

Fri, 23 Sep 2022 07:03:27 GMT

Builder Wincon of Cluj-Napoca, owned by brothers Bogdan and Werner Irsik, is carrying out an investment to boost the production capacity at one of its plants, amid the upward trend of the logistics and industrial space market.