ZF

Home Appliance Maker AETA (Formerly Electroarges) Makes RON8.1M Loss In 9M, 2024

Wed, 20 Nov 2024 20:15:17 GMT

AETA Curtea de Arges (ELGS.RO), formerly Electroarges, ended the first nine months of 2024 with a loss of RON8.1 million, compared with a loss of RON8 million in the same period of 2023, while contract revenue shrank by 6.6% to RON26.4 million.

Electrica Shareholders Called To Vote On Approving EUR253M Wind Farm Investment

Wed, 20 Nov 2024 19:49:33 GMT

The Board of Directors of electricity supplier and distributor Electrica (stock symbol: EL) has called shareholders for a meeting on February 5, 2025 to vote in favor of approving an investment project worth nearly EUR250 million (the equivalent of RON1.3 billion), the company has announced in a report published at the Bucharest Stock Exchange on Nov 20.

EIB Lends EUR200M To Romania's Delgaz Grid For Electricity System Upgrades

Wed, 20 Nov 2024 18:37:00 GMT

The European Investment Bank (EIB) is lending EUR200 million to Romanian energy distributor Delgaz Grid to upgrade the electricity network in Romania's northeastern region of Moldavia.

UniCredit Bank Lists RON750M Bond Issue On Bucharest Stock Exchange On November 20

Wed, 20 Nov 2024 18:15:26 GMT

A RON750 million bond issue of UniCredit Bank, part of Italy’s UniCredit Group, was registered with the Bucharest Stock Exchange on Wednesday, November 20. The issue (UCB29) is due in 2029.

Nuclearelectrica Makes RON478.8M Term Deposit With Exim Banca Romaneasca

Wed, 20 Nov 2024 17:55:32 GMT

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Exim Banca Romaneasca a term deposit without extension in the amount of RON478.8 million, the company informed its shareholders and investors via a report to the Bucharest Stock Exchange on Nov 20, 2024.

Gomag Expects Over EUR3.5M Turnover At End- 2024, Up 30% YoY

Wed, 20 Nov 2024 17:41:31 GMT

Romanian company Gomag, which puts an e-commerce platform at the disposal of online stores, expects to end 2024 with an increase of over 30% in turnover, to over EUR3.5 million, company representatives said in a press statement.

Teraplast Closes Acquisition Of 70% In Croatia’s Optiplast

Wed, 20 Nov 2024 17:30:14 GMT

TeraPlast (TRP.RO), the largest polymer processor in Southeast Europe, has notified shareholders and investors of having closed the acquisition of Optiplast d.o.o, following shareholder approval on November 14.

Sinteza SA Oradea Signs Agreement With Lockheed Martin For Production Of Long-Term Storage Batteries In Romania

Wed, 20 Nov 2024 17:01:52 GMT

Sinteza SA Oradea (STZ.RO), one of the largest local chemical companies, has signed a letter of intent with the US company Lockheed Martin to license the GridStar® Flow technology for the production of negative electrolyte in order to build a long-term storage battery factory, an EUR50 million investment.

Amazon Closes Machine Learning Department In Romania

Wed, 20 Nov 2024 15:45:30 GMT

Amazon is closing its Machine Learning department in Romania, a decision that will affect 400 employees, says marketing, management and business consultant Doru Supeala, citing an official statement of the company that confirms the restructuring of one of the most important technological innovation centers the US giant has in Romania.

SVN Report: Construction Permits For Residential Buildings In Bucharest Almost Halved Over Last Three Years

Wed, 20 Nov 2024 14:38:00 GMT

The number of construction permits for residential buildings in capital city Bucharest has nearly halved over the last three years, while the total usable area authorized for construction plunged 62%, according to the “SVN Romania Residential Market Drive” report.

BCG Report: Romania Sees $1.7B Worth Of M&A Deals In January-September 2024

Wed, 20 Nov 2024 14:08:00 GMT

Romania's mergers and acquisitions (M&A) market recorded transactions totaling USD1.7 billion at the end of September 2024, significantly higher than the USD134 million level recorded in the same period of 2023, according to the global M&A market report by Boston Consulting Group (BCG).

DEER Implements Over RON230M Worth Of Projects For Smart Power Distribution Systems

Wed, 20 Nov 2024 11:29:53 GMT

Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, has implemented 3 projects for smart power distribution systems in the towns of Galati, Oradea and Targu-Mures.

Deloitte: Energy Transition Costs May Drop Nearly 25% With De-risking Instruments For Green Projects

Wed, 20 Nov 2024 11:03:55 GMT

The overall costs of the global energy transition, estimated at USD200 trillion by 2050, could be reduced by almost 25 percent using de-risking instruments, thus facilitating new methods of financing and refinancing green projects, according to a Deloitte study.

Statistics Board: Romanian Construction Works Down 2.6% YoY In January-September 2024

Wed, 20 Nov 2024 10:35:20 GMT

The volume of construction works in Romania decreased, in unadjusted data, by 2.6% in January-September 2024 and by 2% when adjusted for the number of working days and seasonality, data from Romania’s statistics office INS showed on Wednesday (Nov 20).

Isopan's Net Profit Up 9.5% YoY To RON31.1M In 2023

Tue, 19 Nov 2024 20:09:24 GMT

Insulating panel maker Isopan ESt, with a plant in Popesti-Leordeni, ended 2023 with a turnover of RON469.9 million (EUR95 million), down nearly 15% from RON552.7 million (EUR112 million) reported in 2022, Ziarul Financiar (ZF) daily has calculated based on finance ministry data.

Switzerland’s Cicor Sees EUR87M Revenue From Electronic Component Maker Systronics In 2023

Tue, 19 Nov 2024 20:08:36 GMT

Arad-based electronic components manufacturer Systronics, held by Swiss group Cicor, posted RON431.3 million (EUR87.2 million) revenue in 2023, down slightly from the previous year’s RON435.2 million (EUR88.2 million), Finance Ministry data show.

Fitch Upgrades Banca Transilvania To 'BBB-'; Outlook Stable

Tue, 19 Nov 2024 18:29:34 GMT

Fitch Ratings has upgraded Banca Transilvania S.A.'s (Transilvania) Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and Short-Term IDR to 'F3' from 'B'. The Outlook on the Long-Term IDR is Stable, Banca Transilvania said in a press statement on Nov 19.

tbi bank Posts EUR38M Net Profit In 9M 2024

Tue, 19 Nov 2024 16:50:07 GMT

tbi bank, which operates on several markets including Romania, ended the first nine months of 2024 with EUR38 million net profit, 34% higher than in the year-ago period, and operating income of EUR186 million, 25% higher, mainly because of a 34% increase in net interest income, it said in the report detailing the unaudited consolidated financial results.

Statistics Board: Romania Reports More Job Vacancies In Q3/2024

Tue, 19 Nov 2024 14:32:20 GMT

The number of job vacancies in Romania reached 39.9 thousand in the third quarter of 2024, marking an increase of 5.4 thousand compared to the previous quarter, data from the country’s statistics board INS showed on Tuesday (Nov 19).

Romgaz Lists Its First Bonds Worth EUR500M At Bucharest Stock Exchange

Tue, 19 Nov 2024 11:55:18 GMT

Romanian natural gas producer and supplier Romgaz (stock symbol: SNG) is listing its first corporate bonds worth EUR500 million, at the Bucharest Stock Exchange (BVB) on Nov 19.