Category: Uncategorized

The Hellenic-Romanian Bilateral Chamber of Commerce (HRCC) elected a new Board of Directors at the end of June. The organization represents the interests of over 100 companies operating in both Romania and Greece.  The new Board of Directors of the Hellenic-Romanian Bilateral Chamber of Commerce appointed as a result of the elections is made of:…

TMF Group, a leading provider of compliance and administrative services, has signed a lease agreement for 1,700 sqm of office space at America House, an office building in Bucharest’s central business district (CBD). TMF Romania, a subsidiary of TMF Group with over 24 years of experience in the country, will relocate its headquarters to America…

European logistics developer VGP has completed the 8th building of VGP Park Timisoara, which includes a 20,000 sqm warehouse that will be used by Continental Tires Timisoara for its tire storage operations.  The new building at VGP Park Timisoara offers a total leasable area of 32,768 sqm, with 8,209 sqm still available for rent. It…

RetuRO, the administrator of the Deposit Return System, the largest circular economy project in Romania, has opened its fifth counting and sorting center for plastic bottles, aluminum cans, and glass in Nicolae Balcescu, Bacau county.  Located within the ELI Park Bacau industrial park, the center will manage and process beverage packaging collected both manually by…

Stay Fit Gym, the fitness network with the largest city coverage in Romania, has completed the takeover of a fitness center in Floresti, Cluj County, owned by Best Gym Society. With this acquisition, Stay Fit Gym reached a network of 40 open centers nationwide.  The company began an accelerated development process following Morphosis Capital’s entry…

The European Bank for Reconstruction and Development (EBRD) has made a minority equity investment into leading Romanian technology company AROBS Transilvania Software (BVB: AROBS) to support its regional growth strategy in central and eastern Europe.  The EBRD investment was part of a larger primary and secondary share offering of EUR 38 million (RON 189.3 million)…

Intesa Sanpaolo has a great track record in terms of mergers, and the acquisition of First Bank will mark a new stage in terms of the group’s presence in an important European market such as Romania, Gian Maria Gros-Pietro, Intesa Sanpaolo’s Chairman of the Board, said during a visit to Romania. “Joining forces of the…

Romania’s Competition Council has authorized the transaction through which Banca Transilvania intends to take over the local companies controlled by Hungarian group OTP – OTP Bank Romania, OTP Leasing Romania IFN, OTP Asset Management Romania, OTP Factoring, and its subsidiaries, OTP Consulting Romania, OTP Advisors, and OTP Bank Romania Foundation.  Banca Transilvania (BVB: TLV) is…

Romania’s current account (CA) deficit has widened to EUR 5.17 billion in April-May 2024, when it was 77% (EUR 2.26 bln) higher compared to the same period last year, according to data released by the central bank (BNR).  The increase was mainly caused by the wider (+EUR 1.53 bln) deficit in the country’s trade with…

Romania’s public debt increased by RON 7.4 billion (EUR 1.47 bln) in April, despite a major RON 23 bln (EUR 4.6 bln) principal repayment that was apparently refinanced quickly, according to data published by the Finance Ministry.  The stock of gross public debt reached RON 852.8 bln (EUR 171.4 bln) at the end of April, or 52.1% of the…