Category: Uncategorized

Furniture retailer Ikea is going to invest some EUR 18 million to build a new store in northeastern Romania at Iaşi, according to Ziarul de Iaşi and Ziarul Financiar. The plot of land reportedly cost another EUR 4 million. The project envisages the construction of a shopping center with two levels (ground floor and first…

Spanish group Térvalis, through its subsidiary Fertinagro Biotech International (a fertilizer trader), and the Swiss group Ameropa, the largest grain exporter in the Danube region and the largest global independent fertilizer trader, seek to form an alliance that would have a major impact on the Romanian market, Profit.ro reported. The two are currently seeking the…

French defence and technology group Thales has decided to freeze the recruitment of engineers in France and the UK and hire more in Romania and India, the company’s union claims in a document consulted by Profit.ro. “Thales chooses to intensify the outsourcing of activities in Romania and India at the expense of industrial activities and…

Swedish group Holmbergs Safety Systems, controlled by investment fund FSN Capital – a major investment firm in northern Europe, has filed a request for the insolvency of its subsidiary in Romania, which it set up in 2020 by taking over Te Rox Prod from local entrepreneur Doina Cepalis with plans to turn it into a…

International rating agency Fitch affirmed Romania’s BBB- sovereign (long-term foreign currency issuer default) rating and the stable outlook, reasoning that the country’s EU membership and related capital inflows balance a rather gloomy macroeconomic situation: large and persistent twin budget and current account deficits relative to peers, high budget rigidities, and a fairly high net external…

The Local Council of Cluj-Napoca, a major city in Romania’s Transylvania region, approved the urban zoning plan (PUZ) for the reconversion of the city’s former Carbochim industrial platform and the restructuring of the 1 Mai Square. Romanian developer Iulius and Atterbury Europe proposed the large-scale project, which is estimated to be upwards of EUR 0.5…

The International Documentary Festival Astra Film announced its selection for this year’s edition, which will take place in Sibiu from October 20 to 27. Most productions will be presented for the first time in the Romanian city. The selection for the Romania competitive section includes 11 films that bring to the forefront “uncomfortable, even disturbing…

Modular classrooms will open in Mălureni, Argeș county, as a solution for the children who used to walk 7 km through a forest to get to the nearest school, county prefect Dragoş Predescu announced. According to him, this is the first such educational unit in Romania made exclusively with resources from the State Reserves. Eight…

The Securitate, the secret police agency of communist Romania, recruited more than 121,000 people between 1970 and 1979, according to official data released by the Council for the Study of the Securitate Archives, CNSAS. These were new collaborators who joined the existing information network. Of these new collaborators, approximately 99,000 were men, and 21,000 had…

H1 2024, best first semester of the year in history in terms of sales, EBITDA and net profit  Net profit of RON 40.6 mn, +109.4% YoY in H1 2024, generated by strong performance across all three markets  Restaurant operating profit of RON 87.8 mn, +44.8% YoY in H1, with high double digit increases for Taco Bell, KFC Romania and…