ZF

Crosspoint: EUR750M Realty Investments In Optimistic Scenario; EUR500M In Pessimistic Scenario In Romania In 2020

Wed, 08 Apr 2020 16:49:16 GMT

Romania's real estate transactions market reached EUR608 million in 2019, down 41% on the year, and, in the context of the Covid19 pandemic, an optimistic scenario for 2020 indicates a total investment volume of EUR750 million, and a pessimistic scenario shows a minimum EUR500 million, as per an analysis of consulting firm Crosspoint.

Labor Ministry: Over 1.2 Million Individual Labor Contracts Suspended Or Terminated Until April 8

Wed, 08 Apr 2020 15:08:52 GMT

The latest data from Romania’s Labor and Social Protection Ministry show that over 1,000,000 labor contracts have been suspended and over 200,000 labor contracts have been terminated until April 8, 2020.

eMag Seeks To Hire 1,000 Warehouse, Delivery Workers In The Middle Of Coronavirus Crisis

Wed, 08 Apr 2020 14:11:00 GMT

eMAG, the largest online retailer in Romania, seeks to hire 1,000 people due to a surge in demand for e-commerce retailers during the coronavirus crisis, Iulian Stanciu, CEO and shareholder of the eMAG group, told ZF Live on Wednesday (April 8).

ANCOM: Work From Home, Online Courses Boost Fixed Internet Traffic 20.9%, Mobile Traffic 12% On Average

Wed, 08 Apr 2020 13:22:00 GMT

Internet traffic grew on average 21% in fixed networks and 12% in mobile networks, in the last week of March 2020, compared to the end of February 2020, when Romania reported the first case of COVID-19 infection, as per data from Romania’s telecom regulator ANCOM.

Healthcare Workers Account for 25% of All Covid-19 Infections in Romania

Wed, 08 Apr 2020 08:51:33 GMT

The Romanian healthcare workers' federation said Wednesday 25% of people in Romania infected with Covid-19 are healthcare workers and the infection rate among healthcare staff is 20 higher than in other mediums.

Hungary’s Optima To Buy Controlling Interest in Developer GTC

Wed, 08 Apr 2020 07:47:47 GMT

Optimum Ventures Private Equity Fund, owned by Optima, the fund manager of the National Bank of Hungary's foundations, will acquire a controlling interest of 61.49% in developer Globe Trade Centre (GTC), a Polish company trading on the Warsaw Stock Exchange and Johannesburg Stock Exchange.

10% Growth Of Construction Sector Could Offset 30% To 40% Decline Of Other Sectors

Wed, 08 Apr 2020 07:19:08 GMT

Construction sector growth of at least 10% could offset decline in the sectors affected by the current crisis by some 30% to 40%, because this industry accounts for 40% of the economy, directly and indirectly for as much as 70%.

Call-Center Operator CGS Romania: We’ve Got Firm Orders To Hire Over 400 People

Wed, 08 Apr 2020 06:27:40 GMT

Computer Generated Solutions (CGS), the local subsidiary of the US-held company by the same name and the main provider of outsourcing services in Romania, seeks to hire 436 people to meet demand. Romania has a good communications infrastructure, which can provide quick access to working from home, unlike other countries.

Automotive Wiring Manufacturer Fujikura To Make Face Shields For Doctors In Romania

Wed, 08 Apr 2020 06:00:00 GMT

Automotive wiring manufacturer Fujikura Automotive Romania, the local subsidiary of the Japanese Fujikura group, has started production of face shields doctors need in their fight against the COVID-19.

ING Bank Sees Romania’s GDP Contracting 6.6% In 2020, But Growing 7.1% In 2022

Tue, 07 Apr 2020 17:57:00 GMT

ING Bank’s latest forecasts on the evolution of the global GDP envisage a 6.6% contraction for Romania’s economy in 2020, followed by a 7.1% growth in 2022.

Nuclearelectrica Postpones Planned Outage Of Cernavoda Unit 1 Due To COVID-19 Pandemic

Tue, 07 Apr 2020 17:29:19 GMT

Romanian nuclear power plant operator Nuclearelectrica (SNN.RO) on Tuesday said it has decided to postpone the scheduled outage of Unit 1 of the power plant in Cernavoda, due to the current context of the COVID-19 pandemic corroborated with the measures related to the Plan of ensuring the protection of the personnel and continuing the operation and production.

Israeli Software Firm DriveNets Seeks To Double Staff Numbers At Its Bucharest Center

Tue, 07 Apr 2020 16:43:42 GMT

Israeli networking company DriveNets wants to double the number of employees at its center in capital Bucharest, developed in partnership with local company Tellence, to 100 from 50 programmers, until the end of 2020.

Some 7,000 Romanians Lose Their Jobs Daily Amid Coronavirus Crisis

Tue, 07 Apr 2020 15:50:00 GMT

The number of labor contracts terminated in Romania has reached 194,824 on April 7, according to Labor Ministry data, 7,270 more than the contracts registered on April 6.

ACAROM: New Car Registrations In Romania Down 32% YoY To Just 6,654 Units In March 2020

Tue, 07 Apr 2020 14:32:29 GMT

New car registrations in Romania decreased by 32% on the year to just 6,654 units in March 2020, and by 22% to a total 27,979 units in the first three months of 2020, data from the association of automotive manufacturers in Romania (ACAROM) showed Tuesday.

Frigotehnica Seeks To Continue Growth Strategy In 2020 After 7.4% Rise In 2019 Net Profit, To EUR1.9M

Tue, 07 Apr 2020 14:06:22 GMT

Refrigeration solutions manufacturer Frigotehnica, held by ROCA Investments, plans to continue its development strategy in 2020, after undergoing a financial and operational restructuring process in 2019, which led to a 7.45 increase in its net profit, to EUR1.9 million, on the year in 2019.

Antitrust Body Looks into BCR, BRD, Raiffeisen Split Ownership of CIT ONE

Tue, 07 Apr 2020 12:05:17 GMT

Romania's antitrust body said Tuesday it was analyzing the deal whereby BRD Groupe Societe Generale, Raiffeisen Bank Romania and BCR split the ownership of CIT ONE, one of the largest local integrated services for the transport, processing and storage of cash and other valuables.

Large Firms In Romania Urge Govt To Turn To IMF To Overcome Covid-19 Crisis: Economy Needs Nearly EUR30B Support

Tue, 07 Apr 2020 11:27:00 GMT

Several organizations in the Romanian business environment, among which Romanian Business Leaders, the National Council of Romanian Small and Medium-sized Enterprises, the Romanian-German Chamber of Commerce and Industry, the Netherlands-Romanian Chamber of Commerce, the National Tourism Association, the Hotel and Restaurant Business Owners’ Association in Romania, the National Union of Road Hauliers in Romania, the Association of Transport Operators, the Federation of the Hotel Industry in Romania and FBN Romania, have urged authorities to rethink the way the State supports the country’s economy in the context of the COVID – 19 pandemic.

Banca Transilvania Expects Romanian Economy To Feel Pandemic Shock in March-May

Tue, 07 Apr 2020 09:23:25 GMT

Romania's economy could feel the biggest shock of the Covid-19 pandemic in the March-May 2020 period, said Andrei Radulescu, chief macroeconomic analyst at Banca Transilvania.

Tourism Federation Says Unemployment in Hotels and Restaurants Hits 60%

Tue, 07 Apr 2020 09:05:25 GMT

The unemployment rate in hotels and restaurants in Romania has already reached 60% and will soon climb to 90%, the Romanian federation of tourism employers said Tuesday, adding the situation of over 50,000 employees on the Romanian sea-coast is dire.

Zentiva Completes Acquisition of Alvogen's CEE Operations Including Romanian Labormed

Tue, 07 Apr 2020 08:53:22 GMT

Zentiva Group, owned by Advent International, announced Tuesday it has completed the acquisition of Alvogen's Central and Eastern European (CEE) business.