Category: Uncategorized

Romania’s online retailer evoMAG plans to enter the Greek market to capitalise on “logistic convenience” and enter the markets of Poland and France.  “We decided to sell in Greece, both directly and through various channels, because of the logistical convenience. The geographical proximity and the fact that the e-commerce market is still undeveloped provide significant…

There are concerns about the sustainability of inflation convergence in Romania over the longer term, according to the European Central Bank’s (ECB) Convergence Report, which, as expected, concluded that Romania meets none of the euro adoption criteria.  In May 2024, the 12-month average rate of HICP inflation in Romania was 7.6%, considerably above the reference…

The European Bank for Reconstruction and Development (EBRD), after the June 26 trading session, launched an accelerated book-building (ABB) procedure to sell 1.7% of Romania’s leading lender Banca Transilvania (BVB: TLV) at a price nearly 9% below the closing price. The demand from institutional investors, including the local pension funds, was robust, according to Ziarul…

A six-month transitory period might be introduced for the e-VAT mechanism already enacted on June 21 by emergency ordinance (OUG) 170/2024, Romanian finance minister Marcel Bolos announced, according to Economedia.ro.  The mechanism, aimed at closing the VAT gap that is among the widest in Europe, will still be enforced in mid-2024. Besides the e-invoice centralised…

Romania’s Chamber of Deputies, the deciding body, adopted a bill establishing eight regional detoxification and recovery centers for drug addicts. The centers will include measures for prevention, treatment, risk prevention, and the consequences associated with drug use, as well as social reintegration.  “The centers are accredited by the National Authority for Quality Management in Health…

In today’s fast-paced world, the efficiency and accuracy of package delivery are crucial. When it comes to Amazon, tracking packages has become a seamless experience for customers, thanks to the company’s advanced use of data analytics. This article explores how Amazon utilizes data analytics to enhance package tracking and introduces pkge.net, a versatile tracking service…

Elena Lasconi, mayor of Câmpulung-Muscel, was elected president of the opposition party USR by its members in a vote that took place over two days. She received 7,701 votes, or 68.14% of the total votes cast. In her first speech as president, she said that the reconstruction of the party is now underway. She also…

Romanians spent EUR 63 million in cinemas last year, a figure 25% higher compared with 2022, as ticket prices also recorded an 8.2% year-over-year increase, according to data from the Romanian Film Center analyzed by the real estate consultancy company Cushman & Wakefield Echinox.  The total number of tickets sold reached 13.02 million in 2023,…

Electrica (BVB: EL), one of the largest electricity distributors and suppliers in Romania, recently celebrated a decade since its dual listing on the Bucharest and London stock exchanges. Since listing, the company’s share price increased by 39.6% to RON 15.3 at the time of writing. However, the total return, including dividends, amounted to over 90%.…

Romanian entrepreneurial retail, agriculture, and food group Agroland Business System announced that its feed factory in Caransebeș will be transformed into the largest certified organic feed factory in Romania. The transition from conventional feed production to organic feed represented an investment of EUR 200,000 that mainly focused on refurbishing the equipment within the factory and…