Friday, July 10, 2020

Investor from Middle-East enters Romanian real estate market

Corporate Finance House Group (“CFH”), a Middle Eastern investor, has acquired the holding structure owning Day Tower office building in Bucharest, developed by Dimitris Mourkakos of Day Group and completed end of 2018. The Investor was advised by Savills on its first investment in the country; the developer was assisted by Crosspoint Real Estate. Day […]

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Romania’s Grampet Group launches naval route between Batumi and Constanta ports

Romanian group Grampet – Grup Feroviar Român (GFR), GR Logistics & Terminals LLC (Georgia) and ASCO Logistic CJSC (Azerbaijan) signed in Tbilisi an agreement establishing a Consortium that will operate regular shipping between the ports of Constanța and Batumi/ Poti in Georgia. The agreement represents another step by which the member companies of the Middle […]

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Asset rich, cash poor. Romanians are wealthier than most neighboring nations but mainly due...

Romanians are now wealthier than all neighboring nations with the exception of Hungarians, but they are generally asset rich – cash poor, according to a fresh Credit Suisse report. In 2019, the wealth per adult in Romania is estimated at USD 43,074, compared with USD 44,321 in Hungary, USD 42,686 in Bulgaria, USD 27,381 in […]

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Loredana Chitu (Dentons) joins BR’s Foreign Investors Summit

Loredana Chitu, Patner at Dentons, will be a speaker at the sixth edition of Business Review’s Foreign Investors Summit, taking place on October 29-30 at the Sheraton Hotel in Bucharest. He will take part in the panel discussion “Investments in the real estate sector” on the second day of the Summit. She will take part […]

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Romanians keep EUR 45 bln in their bank deposits

Romanians continue to increase their savings in bank deposits and prefer hard currency accounts, a prudent strategy that could be associated with lower confidence in the RON and worries regarding the economic situation. Bank deposits in RON have become less attractive during the last couple of years as a consequence of low – and real […]

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Flexible workspace provider IWG launches Regus franchise programme in Romania

IWG, the world’s leading flexible workspace provider, has launched a new franchise scheme in Romania. The new programme allows Romanian franchise operators to enter the booming workspace industry for the first time ever, and in turn help IWG expand its global network. Flexible workspace, sometimes known as coworking, has become a high-growth industry in recent […]

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Good year for Romanian agriculture: turnover up by EUR 500 million in 2019

The turnover of local companies operating in the agriculture sector will increase by almost half a billion euros in 2019, placing agriculture among the strategic sectors of the Romanian economy, according to the estimates of KeysFin specialists. However, the results could have been better had the weather been more favorable. If in 2018 agricultural production […]

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IT companies recruiting in Bucharest, the biggest professionals market in Romania

The IT industry is in full swing in Romania and the deficit of specialised IT workforce, estimated at over 15,000 employees per year, is pushing companies to expand to every IT centre they can find. While centres like Cluj, Timisoara and Iasi have been stretched to their limits, many companies are opening offices in or around Bucharest […]

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European Commission’s CVM report on Romania: Early 2019 developments were “source of great concern”

The European Commission adopted on Tuesday its latest reports on developments on judicial reform and the fight against corruption in Romania and Bulgaria, in the context of its commitments under the Cooperation and Verification Mechanism (CVM). The Commission’s report, which evaluates the situation since November 2018, criticises Romania for the fact that it has backtracked […]

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South Korean Embassy delegation visits Antibiotice Iasi

On October 21, a delegation from the South Korean Embassy, including Ambassador Kim Yong Ho and two other officials, visited medicine manufacturing company Antibiotice Iasi. The diplomatic delegation was interested in the company’s activity and learning about its product portfolio, international certifications, quality standards, its presence on international markets and recent investments in its platform. […]

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