Deloitte Romania assisted AQUILA, leader in the integrated distribution and logistics services for the fast-moving consumer goods market in Romania and the Republic of Moldova, in the acquisition of Romtec Europa, the company that produces car care fluids and aerosols. The transaction, valued at 3.2 million euros, was signed in December 2023 and completed recently, following approval from […]
CBRE Romania, the leader in providing commercial real estate services, launches an analysis regarding the business potential and alternative investment and development opportunities in Timiș County. According to the analysis, Timiș stands out as a vital centre of Romanian agriculture, ranking first in agricultural area with 693.034 hectares and second in organically cultivated land area. […]
By the end of 2024 the stock of modern retail spaces will overpass 4.5 mln. sq. m setting a new record for Romania. Circa 186,000 sq. m could be added to country’s modern retail stock if taking into consideration under-construction projects. The popularity of the specialized format is noticed in the forecasted developments, claiming 95% […]
The average office fit-out costs have increased by around 15-20% during the past 12 months, but they still remain among the lowest in the Central and Eastern Europe (CEE), according to data from the Cushman & Wakefield Echinox real estate consultancy company. With an average level of €943 per sq. m of office space, the […]
Romania is present at the 10th edition of the EU-Startups Summit in Malta, the biggest event for tech startups in Europe, through RoTechMission, a delegation organized by DiFine PR, Techcelerator and ROTSA (Romanian Tech Startups Association). More than 2,000 people, including 1,000 entrepreneurs and 300 investors, will attend the event, which takes place from May […]
AeroVacanțe, part of the Aerotravel group, is betting in 2024 on new destinations, more accessible for Romanians, as a result of the growing demand for holidays in new destinations untouched by mass tourism. Thus, the agency introduces for this summer 14 charter flights to Lesbos, the third largest island in Greece, where the costs of […]
• Total leasing activity in Bucharest is 71% higher at the end of the first quarter compared to the same period last year. Bucharest, 8 April 2024 - The office market remains fluid and flexible. Two distinct trends have emerged in 2023: securing entry into prime new locations and optimising the portfolio through best value […]
The industrial and logistics hubs developed by Transilvania Construcții serve top industries such as building materials, automobiles, food, IT, medical, and pharmaceutical, according to internal company statistics. Strategically developed in the Western and Eastern parts of the country, the company offers supply chain projects with more than 250,000 rentable m2 in 83 industrial and logistic […]
Bucharest, 02 April 2024 – KIKO Milano, part of Fais Group, opens the first store in Romania, in ParkLake Shopping Center. This inauguration marks the first episode of the company's expansion on the Romanian market. The grand opening of the first KIKO Milano store in ParkLake sparked an unforgettable excitement and buzz. The long-awaited moment […]
The Mediq software developed by Synaptiq and designed to increase the efficiency of cancer treatment has shown impressive results. It is now being tested by radiation oncologists in 12 Romanian clinics. The artificial intelligence-based software solution is designed to reduce the time doctors need to contour target volumes and organs at risk, from an average […]
CIJ EUROPE, the organizer of the annual CEDER conference—one of the biggest real estate conferences in Romania—brings together top leading property professionals from the industry at this year's exhibition and conference. Big companies such as Globalworth, Nusco Imobiliara, AFI Europe Romania, Vastint, North Bucharest Investments, Ceresit, Carbon Tool by Build Green, WIREN, Energy Pal, Avitech, […]
Genezio, a startup launched in 2023 to create tools to help developers automate app creation, raised a $2 million pre-seed round led by Gapminder Ventures. Genezio will use the funds to implement the go-to-market strategy and develop enterprise features, as current use cases include web, mobile, blockchain, AI, and automation apps. This is the first […]
BRD Groupe Societe Generale and IFC, a member of the World Bank Group, have closed a landmark synthetic significant risk transfer (SRT) transaction that will free up capital for BRD to boost the financing of impactful sustainability-related projects in Romania. Under the transaction, IFC will provide a risk guarantee on an up to €700 million […]
The transition to circular economy slowed globally last year, as the vast majority of raw materials entering economies are still coming from virgin sources, while the share of secondary, reused materials has steadily decreased over the past five years, from 9.1% in 2018 to 7.2% in 2023, indicates the “Circularity Gap 2024” study, carried out […]
In the heart of Bucharest, Romania, a small studio radiates with the warmth of creativity and the vibrant hues of passion. This is where the magic of Cherisse Design comes to life, a brand that has quickly become synonymous with luxury, elegance, and the essence of feminine empowerment. Cherisse is not just a brand; it's […]
Cushman & Wakefield Echinox announces the promotion of Ștefan Surcel as Head of Industrial Agency. In his new role, Stefan will coordinate the activity of the company’s Industrial department and will focus on further developing the existing relationships with strategic clients and also on identifying and creating new market opportunities. Oana Iliescu, Managing Director, Cushman […]
12 early-stage tech businesses from Romania and South-East Europe can win up to €30,000 by participating in Startup Reaktor, a program dedicated to early-stage and tech startups from the region that want to launch in new markets. Startup Reaktor is the Romanian representative of the EIT Digital Venture Incubation Program developed by EIT Digital, part […]
Fraud prevention in corporate settings is not necessarily a matter of policies and procedures, but it is about cultivating a culture of integrity and vigilance among employees. According to a survey conducted by the Association of Certified Fraud Examiners (ACFE), 42% of actual fraud cases were discovered through internal reporting systems within organizations, which highlights […]
After steady improvement in terms of social progress over more than a decade, the global quality of life and wellbeing stagnated in 2023, according to the latest edition of the Social Progress Index ranking, which assesses the quality of life and social wellbeing of 170 countries and is conducted by the non-profit organization Social Progress […]
Mobexpert, the furniture market leader in Romania, expands its logistics and storage operations by leasing 1,400 sq. m within Oresa Industra Park in Iasi, owned by Oresa Industra, the real estate division of the Oresa family office. The Oresa Industra Park in Iasi reached a 100% occupancy as a result of this transaction. Lorena Brehuescu, […]
Symmetrica, the leader of the local market of vibro-pressed products and the largest domestic producer, announces a new investment in the largest factory of concrete pavements in South-Eastern Europe, worth 48 million euros. "Located in Bolintin Vale - Ilfov, our new prefabricated factory will be a symbol of excellence and technological progress. With an impressive surface and extensive production capabilities, this unit represents an essential pillar in supporting regional growth and development and incorporates new technologies for the Romanian […]
Gebrüder Weiss Romania, one of the main players in the local transportation and logistics solutions market, has achieved approximately 650,000 transports in the 5 years since the launch of the Home Delivery service, marking consistent year-over-year growth. Furthermore, 2023 marked the beginning of a significant social and environmental impact project, involving the delivery with electric […]
More than half of workers (54%) around the world identify increasing work stress as their top concern, according to the Deloitte 2024 Global Human Capital Trends report, while technology advancement is second on the list, according to a quarter of workers, who worry about the significant changes that technology advancement brings, such as creating the […]
SII Romania, a multinational company specialized in software engineering and technology consulting, announces the appointment of a new General Manager – Iulia Surugiu, who has extensive expertise in business operations and management, and over a decade of experience within the company. She takes the lead from Manel Ballesteros, who ran the local branch for the […]
More than 100 experts from 10 countries in Western Europe and Scandinavia will mentor early-stage tech startups from Romania and Southeast Europe that apply to Startup Reaktor, a program that allows founders to access pre-seed investment and expand internationally. Startup Reaktor is an "internationalization first" program dedicated to early-stage and very early-stage tech startups from […]
Today, Mobile Industrial Robots A/S (MiR) announces the launch of the MiR1200 Pallet Jack autonomous mobile robot (AMR). With advanced AI pallet detection, powered by NVIDIA Jetson AGX Orin, MiR1200 Pallet Jack uses 3D vision to identify pallets and do pick up and deliver pallets with unprecedented precision. “The MiR1200 Pallet Jack is our latest […]
Telekom Romania Mobile introduces the Buy-Back service exclusively online enabling all customers to unlock value from their old phones in exchange of a voucher that can be used to purchase a new handset. Telekom customers that choose Buy-Back service will enjoy a simple, comfortable, and efficient experience. First step is to fill in the online […]
Deloitte Romania has recruited Alin Chitu for the position of Tax Partner, reporting to Vlad Boeriu, Tax and Legal Partner-in-Charge. With a vast expertise in fiscal advisory, built along almost two decades, Alin Chitu’s new role will be to contribute to the expansion of Deloitte Romania’s tax practice. “I take this opportunity to publicly welcome […]
Bucharest ranks among the major European cities with the lowest housing prices and the highest affordability ratios, according to data from the Cushman & Wakefield Echinox real estate consultancy company. The expected increases in wages as a result of the positive economic developments and also the easing of financing conditions are likely to favor house […]
The new facility of Hexing Technologies Europe SRL, a subsidiary of the Hexing Group and a leading green energy solution provider, set within the thriving Timisoara Airport Park, will serve as a hub of innovation, extending Hexing's digital energy service footprint across Europe. As part of Hexing's long-term vision to build a greener world, the […]
Techcelerator, the SEED accelerator targeting advanced technology start-ups in Romania and South Eastern Europe, has received recognition from the prestigious business publication Financial Times in the Europe's Leading Start-Up Hubs 2024 report, a ranking of the top startup hubs that offer incubation and/or acceleration programs for people looking to start or grow a company. Techcelerator […]
Romanian companies anticipate improvement of macroeconomic indicators such as gross domestic product (GDP), inflation and unemployment, but seem to still adopt a prudent approach as uncertainty remains high, according to the Deloitte 2024 Romania CFO Survey, conducted at the end of last year among over 110 chief financial officers (CFOs) based in our country. Economic […]
A multidisciplinary team of tax litigation lawyers from Reff & Associates | Deloitte Legal and tax advisors from Deloitte Romania has obtained a referral to the Court of Justice of the European Union (CJEU) by the Bucharest Court of Appeal in a dispute between a Romanian taxpayer and the national tax authority, concerning the VAT […]
Entrepreneurs from Bacău can learn how to create and develop their own businesses at Hub Orizont, a space launched by the Municipality of Bacău to support startups in the cultural and creative industries. One of the hub's main activities is running an incubation programme consisting of group workshops, individual mentoring sessions, advice and events to […]
This year should be a much better year for tech startup funding, after 2023 was the worst in nearly a decade. This change is driven by lower inflation and therefore lower interest rates, the return of venture capital investment and the positive evolution of global stock markets, says Andrei Dudoiu, Managing Partner of SeedBlink, Europe's […]
The La Cocos local retail chain continues its expansion in Romania by opening a new store in Brasov, its fourth hypermarket in the country, through a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. The new store will have an area of approximately 10,000 sq. m, being located in the Brintex-Brașov […]
Tommy Hilfiger, which is owned by PVH Corp. [NYSE: PVH], welcomes Kendall Jenner to the Tommy family with its Spring 2024 campaign. Joined by five of her friends, Kendall soaks up the spirit of Los Angeles’ endless blue skies, showcasing her warm and authentic self. It’s the ultimate spring lifestyle, captured through a red, white […]
Teiuș.Solar, part of the Eurowind Energy group, a Danish developer and operator of wind, solar and hybrid projects, announces the launch of the Teiuș Photovoltaic Park project – with a maximum installed capacity of 60.2 MW, implemented in the city of Teiuș, Alba County. The total value of the project is 47,155,440 euros (54,987,957 euros including […]
NN paid insurance customers and private pensions participants 983 million lei in 2023, 27% more than the previous year. NN closed 2023 with solid financial results across all business lines, and through insurance benefits and private pensions paid it continued to provide protection and financial support to clients in unforeseen times and contribute to the income […]
Biofarm, (stock symbol BIO), one of the most important drug manufacturers in Romania, ended 2023 with a net profit of about 77 million lei, up 9% from the previous year and a turnover of approx. 280 million lei, according to preliminary results (unaudited). "In 2023, we successfully implemented cost optimization strategies, focusing in particular […]
Romanian brands would have resounding success in other countries, but most entrepreneurs are still reluctant to expand their business internationally. However, the interest of entrepreneurs in expanding through franchising in new markets has started to grow, predominantly for countries in the European Union, where the tax regime is more friendly. Most types of businesses that […]
The optimism regarding the economic evolution in Central Europe is growing, according to the latest Deloitte Central Europe Private Equity (PE) Confidence Survey, as the share of respondents who expect overall economic climate to improve went up to 42%, from 15%, in the summer of 2023. Equally positive is the halving of those expecting the […]
While the average hotel occupancy level across the CEE-6 capitals – including Bucharest, Bratislava, Budapest, Prague, Sofia, and Warsaw – in 2023 lagged 2019 by 9%, the ADR surpassed it by 23%, resulting in a 12% RevPAR growth, according to data from the real estate consulting company Cushman & Wakefield. The strongest increase was recorded […]
Tommy Hilfiger, which is part of PVH Corp. [NYSE: PVH], announces a landmark partnership with F1 ACADEMY™️, the series designed to help and develop young female drivers, and sponsorship of leading Spanish talent Nerea Martí. Building on a legacy of innovative partnerships in the Formula 1™ world, Tommy Hilfiger accelerates using its global platform to […]
Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024. Homebuilders are seeing some fractures […]
SII Romania, a multinational company specialized in IT services and solutions, announces the opening of its second regional office in Timișoara, following the success achieved with the opening of the first office in Iași. This expansion is part of the territorial development strategy and underscores the company's commitment to providing high-quality services and customized solutions […]
Kingfisher, the international home improvement company and owner of well-known brands such as B&Q, Screwfix, Castorama, and Brico Dépôt, is honoured to announce the launch of its new technological hub in Cluj-Napoca, Romania, in partnership with Endava, a leading technology services company headquartered in London, which combines world-class engineering, industry expertise and a people-centric mindset. […]
On 26 January, Directive (EU) 2022/2464 of the European Parliament and of the Council regarding companies’ sustainability reporting, known as the Corporate Sustainability Reporting Directive (CSRD), was transposed into Romanian law through Ministry of Finance Order no. 85/2024 (“OMF 85/2024”). „This legislative advance underscores Romania's proactive stance in fostering responsible business practices and ensuring that […]
GapMinder Ventures, the venture capital fund manager that invests in technology companies born in Romania and Eastern Europe, launches GapMinder Fund II, an investment vehicle with a target of €80 million, representing the largest VC with a primary focus on the Romanian tech start-up market. The fund became active on February 14th after its first […]
The first private rehab center, with all inclusive services, was opened in Romania, as a result of the increase in the number of people affected by severe addictions. Offering a unique service in the country, Snagov Rehab Center is a modern center, developed with a private capital investment through which emphasis was placed on the […]
