Monday, May 20, 2019

KazMunaiGas, owner of KMG International, prepares for privatization

Samruk-Kazyna’s sovereign investment fund has proposed for the next year to raise between USD 3 and 5 billion by the sale of a stake of up to 25 percent of the KazMunayGas oil group, the majority shareholder at KMG International, according to the fund manager, Almasadam Satkaliyev, cited by Reuters. Until now, the Kazakh authorities […]

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BR ANALYSIS. Consultancy firms taking over advertising agencies – who will win?

In April, Accenture entered into an agreement to acquire Droga5, one of the world’s most innovative and influential creative agencies. The New York-based agency will become part of Accenture Interactive, boosting its capabilities as an “experience agency” able to design, build and run customer experiences that grow brands and businesses, say officials. By Romanita Oprea According to company […]

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Leonardo Badea (ASF): Consumer protection is a statutory objective of the Financial Supervisory Authority

Leonardo Badea, the president of the Romanian Financial Supervisory Authority (ASF) spoke at the 5th edition of the European Consumer Protection Conference, where regulators and industry experts gather each year to exchange views and share expertise in order to better shape their approach to consumer protection. “After the exciting introduction of the esteemed previous speakers in the […]

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Creative Quarter Design Festival to take place in Bucharest on May 18-26

Creative Quarter Design Festival, the first big festival around the Cismigiu park, inspired by UniCredit Bank, takes place May 18-26, 2019. The most active creative-cultural area in Bucharest will welcome its visitors with a circuit comprised of 60 events: exhibitions, conferences, parties, movie nights, guided tours, design fairs, discussions and workshops. By Romanita Oprea The […]

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Kingfisher launches GoodHome brand aimed at simplifying home improvement

Inernational home improvement company Kingfisher announced the launch of the GoodHome brand, which it says will offer both amateurs and professionals a simpler way to upgrade their homes and will combine the digital and physical shopping experience with a new store concept. The move marks the final transformation phase for Kingfisher, which in the past […]

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BNR increases 2019 inflation forecast from 3 percent to 4.2 percent

The National Bank of Romania (BNR) increased its 2019 inflation forecast to 4.2 percent at the end of this year and projected a 3.3 percent inflation rate for 2020, according to BNR Governor Mugur Isarescu statement in a press conference. In February 2019, the National Bank of Romania estimated 3 percent inflation for the end […]

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Commons Lounge to open third co-working space in Bucharest

Commons Lounge, the co-working space provider founded in 2017 by entrepreneur David Canta, is in the process of opening its third space in Bucharest, in Victoria Business Park in the Baneasa area, which is owned by Immofinanz, according to economica.net. The new space will have a surface of 1,250 sqm, taking the total space managed […]

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Bittnet Group reaches RON 100 million market cap

On May 16, Bittnet Group (BNET), an AeRO listed company and the first ever IT issuer quoted on the Bucharest Stock Exchange, closed the trading session having overpassed RON 100 million in market capitalization. At the end of the day, Bittnet shares traded at a price of RON 1.88 and the total market capitalization was […]

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Amazon looking to buy stake in UK-based Deliveroo

Online retail giant Amazon is reportedly in talks for an investment of hundreds of millions of dollars in Deliveroo, a food delivery service based in the UK, according to reports. Sources told Sky News that Amazon would soon announce a deal to back Deliveroo as part of a USD 545 million fundraising, most of which […]

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Inditex group to double size of existing stores in Timisoara’s Iulius Mall, bring on...

The Inditex Group, one of the largest fashion retailers in the world, announced on Thursday that it opened two new stores in Iulius Mall, introducing the brands Zara Home and Oysho for the first time on the Timisoara market. The group is also planning to double the size of its existing five stores in the […]

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