Category: Uncategorized

A high number of over 100 investors submitted grant requests for their power storage projects under a scheme with a budget of only EUR 80 million launched in February, according to Profit.ro.  Major companies such as OMV Petrom, Electrica, and Engie are among the bidders.  Under the scheme, financed from the National Resilience Facility (PNRR),…

Local retailer La Cocos, with its turnover leaping by 36.5% y/y to RON 974 million (nearly EUR 200 million), is the first Romanian player to make it to the top ten largest retail chains in the country, according to 2023 financial data collected and compiled by Economica.net.  Carrefour taking over local operations of Cora –…

Romania’s major metal roofing systems producer Bilka is planning to build its first factory abroad in order to spur exports that are constrained by the manufacturing activities being concentrated within the country, the company’s founder and CEO Horatiu Tepes told Ziarul Financiar. “We are working hard on this project. I hope that by the end…

Polish retailer Żabka transferred EUR 20 million to its Romanian subsidiary, which is preparing the launch of its first five stores in central parts of Bucharest, part of a larger 200-store plan for this year, according to Profit.ro. Romania’s competition authority cleared the takeover of local distribution company DRIM Daniel Distributie FMCG by Polish convenience…

The number of employees in the business process outsourcing (BPO) industry will increase by 10% in the next two years, up to over 200,000, according to projections expressed by Cătălin Iorgulescu, vice-president of the Association of Business Service Leaders (ABSL), the representative association for this industry, quoted by Ziarul Financiar.  He implied that global companies…

The European Commission and Europa Nostra announced the 2024 winners of the European Heritage Awards/Europa Nostra Awards, and two church restoration projects from Romania are on the list: the Saxon Church in Alma Vii and St. Michael’s Church in Cluj-Napoca. In total, 26 outstanding heritage achievements from 18 countries have been awarded Europe’s top honour in the field this…

The BET Patria – Tradeville ETF fund managed by SAI Patria Asset Management SA, a member company of the Patria Bank Group, recently announced a lowering of fees in a message sent to investors.  The Patria-Tradeville financial instrument in question is the first exchange-traded fund in Romania and the largest ETF that invests in Romanian…

Two cybersecurity startups, Zero Code and Pentest Copilot, have been selected from over 80 teams that participated in Innovation Labs 2024 to receive a total of EUR 500,000 in funding from Early Game Ventures.  Both startups are active in cybersecurity, a technological sector that requires continuous innovation due to the increasingly complex global security landscape,…

OLEA, a restaurant with an innovative culinary concept, opens its doors in an emblematic area of Bucharest, within the premises of the JW Marriott Bucharest Grand Hotel. With a delightful blend of flavours and influences, OLEA aims to redefine tastes in a unique and captivating way. The total value of the investment is estimated at…

Bucharest authorities took the first steps towards the construction of the M7 Voluntari-Bragadiru subway line, aiming to connect District 5 with the center of Bucharest. The first stages of the project initiated by District 5 City Hall involve launching the procurement procedure for the feasibility study for this project. District 5 is the only district…