Category: Uncategorized

The general meeting of the shareholders of the Romanian natural gas company Romgaz (BVB: SNG) approved on September 11 the delisting of the global deposit certificates (GDRs) from the London Stock Exchange, according to a note to investors quoted by Ziarul Financiar. On November 12, 2013, Romgaz was listed on the Bucharest Stock Exchange (BVB)…

Fuchs Condimente Romania, part of the German group Fuchs, has already invested EUR 8.5 million in the expansion of the factory it operates in southern Romania at Curtea de Argeş and will invest another EUR 5.5 million in new equipment in the coming years in order to double factory’s turnover to EUR 70 million in…

German manufacturer of electromechanical and electro-hydraulic devices Magnet-Schultz enters the Romanian market by taking over a subsidiary of the local peer Electroprecizia, according to Economica.net. “The costs in Germany and Switzerland remain high, particularly for activities that cannot be automated. Like many other companies, we are increasing activities in the so-called best-cost countries,” said Albert…

Austrian manufacturer of construction materials Wienerberger inaugurates on September 16 a new brick factory in eastern Romania at Berca (Buzău County), according to company officials quoted by Economedia.ro. Wienerberger Group has been active in Romania since 1998, being one of the largest producers of construction materials. The company has 7 factories in the country: four…

While the tax amnesty may have certain short-term benefits in the case of tax collection, in the medium and long term, it discourages voluntary compliance and brings uncertainties for good-faith taxpayers and, implicitly, could negatively affect the degree of revenue collection to the state budget, according to the Foreign Investors Council (FIC) commenting on the…

The number of new housing units completed in Romania dropped by 13.0% y/y to 14,567 in Q2, according to the statistics office INS. The decline was steeper when it comes to the housing units financed from private funds (-15.2% y/y to 14,024 units) as 2.5 more housing units (552) were completed with public financing. The…

The net investments in Romania increased by 5% y/y to RON 45.76 billion (over EUR 9 bln) in Q2, resulting in a 5.6% y/y average advance for the first two quarters of the year, according to the statistics office INS. As a share of the quarter’s GDP, the net investments thus advanced to 11.2% in…

The members of the network of business angels TechAngels have invested more than EUR 1 million (EUR 1,020,045) in tech startups in the first half of this year, the organization announced. This is similar to the corresponding period of the last year. A share of 14.6% of the members backed new startups with a total…

The New Hope Orchestra and conductor Octavian Lup will hold the “Romania for Peace” concert on September 21 to celebrate the International Day of Peace.  The event will feature special guests soprano Veronica Anușca and violinist Valentin Șerban and will take place outdoors in George Enescu Square in Bucharest. Admission is free.  “For the first…

Impact Hub Bucharest launched Impact Creators, an acceleration program dedicated to startups from Romania and Central and Eastern Europe in the early stages of development (very early stage, pre-seed), which are seeking investment rounds. The program is in partnership with PurposeTech, one of the leading pre-seed investment funds in Central and Eastern Europe. The accelerator…