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TheBizz Magazine

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27/08/2024

The Ministry of Finance raised a record RON 3.2 billion in the latest Fidelis government bonds issuance, marking the largest offering since the program's inception.

The Ministry of Finance has achieved a significant milestone by securing over RON 3.2 billion (EUR 650 million) through the latest issuance of Fidelis government bonds, marking the largest public offering in the program's history. The offering, held in August 2024, attracted RON 1.7 billion and EUR....

21/08/2024

Nala Renewables has secured €214 million from BCR and Erste Group to develop a 99.2 MW wind project, expected to generate 312 GWh annually and cut 150,000 tonnes of CO2 emissions.

Nala Renewables has secured a €214 million financing package from Banca Comercială Română (BCR) and Erste Group for the acquisition and development of a 99.2 MW onshore wind project. This financing underscores the growing focus on renewable energy investments and the strategic role these projec...

21/08/2024

AFI Europe has acquired the myhive Victoriei office building from IMMOFINANZ for €27 million, marking a significant strategic investment in Romania's real estate market. The transaction highlights Romania's leadership in real estate investment in Central and Eastern Europe in 2024.

AFI Europe, a prominent real estate developer in Central and Eastern Europe, has purchased the myhive Victoriei office building from the Austrian group IMMOFINANZ. The transaction, valued at approximately €27 million, was facilitated by Colliers and Cushman & Wakefield Echinox. This acquisition al...

21/08/2024

NN reported a 61 million lei profit and over 575 million lei in payouts to clients in H1 2024, reflecting strong financial performance and growth.

NN has announced strong financial results for the first half of 2024, achieving a gross profit of nearly 61 million lei and making substantial payouts exceeding 575 million lei to its clients.

13/08/2024

Flanco achieves 650 million lei in sales in the first seven months of 2024, marking a 14% increase. The company plans to continue its expansion with new stores and the launch of the Flanco Buzz app.

Flanco, one of Romania's leading electronics and home appliances retailers, achieved sales of 650 million lei in the first seven months of 2024, marking a 14% increase compared to the same period last year. This growth significantly outpaces the overall market for electro-IT products in Romania, whi...

13/08/2024

PPC Group has concluded a major €700 million deal to acquire a 629 MW renewable energy portfolio in Romania, with legal support from Clifford Chance Badea.

PPC Group has finalized an agreement with Macquarie Asset Management’s Evryo Group to acquire a substantial renewable energy portfolio in Romania. The portfolio includes 629 MW of operational renewable energy assets and an additional 145 MW in pipeline projects, marking one of the largest transact...

05/08/2024

EBRD and Eiffel Investment Group are jointly investing €244 million in a solar power project in Romania, reinforcing the country’s renewable energy expansion.

The European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group have announced a substantial investment of €244 million to fund the construction of a new solar power plant in Romania. The financing will be provided equally by both entities, with each contributing €122 mil...

05/08/2024

AVBS Broker de Credite recorded a significant growth in the first half of 2024, helping grant €32 million in mortgage loans, a 60% increase compared to the previous year.

AVBS Broker de Credite, one of Romania's leading credit brokerage firms, has announced a significant growth in its mortgage loan portfolio, with a total of €32 million granted in the first six months of 2024. This marks a 60% increase compared to the same period in 2023, when the company facilitat...

02/08/2024

BCR has achieved nearly 100% digital processing of loans and deposits in H1 2024, solidifying its leadership in Romania’s digital banking transformation with record-breaking digital engagement and customer satisfaction.

Banca Comercială Română (BCR) has achieved a significant milestone in its digital transformation journey, with nearly 100% of its loans and deposits being processed through digital channels in the first half of 2024. This unprecedented level of digital engagement marks a major shift in Romania’...

02/08/2024

Automobile Bavaria has become Romania’s first authorized Rolls-Royce dealer, marking a significant milestone in the luxury brand’s 120-year history. This new dealership strengthens Rolls-Royce’s presence in Romania, offering customers an unparalleled luxury experience.

Automobile Bavaria has achieved a historic milestone by becoming Romania’s first authorized Rolls-Royce dealer, marking the first time in the luxury brand's 120-year history that an official dealership has been established in the country. This appointment reflects the growing significance of Roman...

02/08/2024

CBRE România launches "Noaptea Companiilor" in Bucharest, offering companies a unique platform to strengthen their employer branding by connecting directly with top talent in their own offices.

CBRE România is introducing the unconventional job fair

31/07/2024

Metropolitan Life announces a 24% increase in gross written premiums to 193.8 million lei and a 57.6% increase in benefits paid in Q1 2024, reinforcing its market position.

Metropolitan Life, a key player in Romania's life insurance market, announced a significant 24% increase in gross written premiums for the first quarter of 2024. The company reported gross premiums totaling 193.8 million lei, up from 155.9 million lei during the same period in 2023.

30/07/2024

SAP exceeds estimates with a 25% increase in cloud revenue to €4,15 billion in Q2 2024, driven by Business AI, while overall revenue grows by 10% to €8,29 billion.

SAP has announced its financial results for the second quarter of fiscal year 2024, showing notable growth and surpassing analyst expectations. The company’s total revenue reached €8,29 billion, a 10% increase compared to the same quarter last year, exceeding the consensus estimate of €8,25 bi...

29/07/2024

Red Point Software Solutions acquires Ness Technologies Ro, adding 30 SAP consultants and 20 new clients, and enhancing its cloud-based SAP solutions portfolio.

Red Point Software Solutions, the only SAP Platinum Partner in Romania, has acquired Ness Technologies Ro, a division of the globally active Ness Digital Engineering. This acquisition is part of Red Point's strategic plan to implement SAP solutions in the cloud, aiming to strengthen its position in....

26/07/2024

VEKA Romania announces a strengthened management team to optimize local market operations, with over 50 years of experience in Class A PVC profile systems.

VEKA Romania, the local subsidiary of global PVC profile leader VEKA Group, has announced significant enhancements in its management team to optimize internal operations and support the company's growth in the local market.

25/07/2024

Saint-Gobain Romania launches a €50 million gypsum board production line in Turda, enhancing efficiency and creating over 100 jobs.

Saint-Gobain Romania has successfully launched its second gypsum board production line in Turda, marking a significant milestone with an investment exceeding €50 million. The new production line celebrates the 30th anniversary of Saint-Gobain Rigips' presence and innovation in the Romanian constru...

24/07/2024

Garanti BBVA Leasing secures a €10 million loan from EBRD, with 30% directed towards green economy projects, boosting SME growth in Romania.

Garanti BBVA Leasing, part of the Garanti BBVA Group Romania, has secured a €10 million loan from the European Bank for Reconstruction and Development (EBRD) to bolster the growth of small and medium-sized enterprises (SMEs) in Romania. This financing will enable Garanti BBVA Leasing to offer SMEs...

23/07/2024

CEC Bank has funded the new Medex Oncology Hospital in Mureș with 1.126 billion lei, enhancing the local healthcare infrastructure with advanced medical technology.

CEC Bank has contributed 1.126 billion lei in credit to support the construction of the recently inaugurated Medex Oncology Hospital in Sângeorgiu de Mureș. This significant investment underscores CEC Bank's commitment to community development and enhancing the national healthcare system.

19/07/2024

EIT InnoEnergy raises €140 million with new strategic investors OMV, OMV Petrom, and ACB Participaties B.V., enhancing its capability to drive sustainable energy innovation in Europe and the U.S.

EIT InnoEnergy, a leading force in sustainable energy innovation, has successfully completed a €140 million private placement round, welcoming new investors OMV, OMV Petrom, and ACB Participaties B.V. These additions are set to bolster EIT InnoEnergy’s impact across Europe and the U.S.

19/07/2024

Romanian startup .lumen has raised €5 million, including €1 million in just one day via SeedBlink, to support the launch and expansion of their innovative smart glasses for the visually impaired.

Romanian startup .lumen, which focuses on improving mobility for the visually impaired, has successfully raised €5 million in a funding round, including €1 million secured within a single day from private European investors through the SeedBlink platform.

16/07/2024

Danone România appoints Oana Bejan as the new Country Topline Unit Leader, focusing on driving commercial operations and maintaining market leadership during the company’s 25th anniversary year.

Danone România has announced a strategic organizational change with the appointment of Oana Bejan as the new Country Topline Unit Leader, effective from June. Bejan, who brings over 18 years of experience in the FMCG sector, will be responsible for overseeing the company’s commercial operations, ...

16/07/2024

Apa Nova București invests €975,000 in Floreasca Emergency Hospital to modernize the Surgery II Wing, enhancing patient care with state-of-the-art facilities.

Apa Nova București (ANB), the water supply and sewage service provider for the Municipality of Bucharest, has announced a significant investment of €975,000 in the rehabilitation of the Surgery II Wing of the Floreasca Emergency Hospital. This initiative follows the company's previous efforts, in...

15/07/2024

Gebrüder Weiss celebrates 30 years in Romania, achieving €94 million in revenue for 2023. The company has invested €90 million in local infrastructure and aims to enhance sustainability and digital transformation.

International logistics and transport company Gebrüder Weiss is celebrating 30 years of operations in Romania, marking a significant milestone since its establishment as a small freight forwarding agency in 1994. Over three decades, the company has grown to become a leading provider of comprehensiv...

11/07/2024

Romanian trading companies completed over 660 million euros in international transfers in H1 2024, marking a 203% increase from last year. iBanFirst's support has been pivotal in this growth, emphasizing the need for innovative financial solutions.

In the first half of 2024, Romanian trading companies have successfully completed international transfers totaling over 660 million euros, as reported by iBanFirst, a global provider of foreign exchange and international payments for businesses. This milestone represents a remarkable 203% increase i...

11/07/2024

PepsiCo has inaugurated a $33.5 million energy autonomous automated warehouse in Popești-Leordeni, enhancing its regional operations. This investment is part of a larger $100 million project and highlights PepsiCo's commitment to sustainability and operational efficiency.

PepsiCo, one of the leading food and beverage companies, has inaugurated a state-of-the-art automated warehouse at its snacks factory in Popești-Leordeni. This development is part of a larger strategic investment project totaling over $100 million.

10/07/2024

Schneider Electric has been recognized as the world's most sustainable company for 2024 by Time and Statista, highlighting its significant achievement of helping to reduce 553 million tons of CO2 emissions since 2018 and its strong ESG performance.

Schneider Electric has been recognized as the world's most sustainable company for 2024 by Time magazine and Statista. This accolade highlights Schneider Electric's significant achievements, including helping to reduce 553 million tons of CO2 emissions since 2018, and its commitment to energy effici...

08/07/2024

Global gold demand in Q1 2024 reached 1,238 tons, driven by increased investment purchases and central bank acquisitions, marking the strongest first quarter since 2016.

In the first quarter of 2024, global gold demand surged to 1,238 tons, marking a 3% year-on-year increase and recording the strongest first-quarter demand for the precious metal since 2016. According to the latest data from the World Gold Council, this growth was driven primarily by a 3% rise in inv...

08/07/2024

TBI Bank reinvests its entire €42.5 million profit from 2023 to support future growth, marking significant financial achievements and expansion in Southeastern Europe.

TBI Bank, a leading challenger bank in Southeastern Europe, has announced the reinvestment of its entire consolidated net profit of €42.5 million for 2023. This decision follows the approval from the Bulgarian National Bank at the end of 2023 to capitalize the first half of the year's profit, with...

08/07/2024

Partners Financial Services has become the largest shareholder of Transilvania Broker de Asigurări by acquiring a 32.89% stake for over 6 million euros. This strategic move marks PFS's entry into the Romanian market.

Partners Financial Services (PFS), a Czech company, has acquired a 32.89% stake in Transilvania Broker de Asigurări, one of Romania's largest insurance brokerage companies. This acquisition, valued at over 6 million euros, positions PFS as the largest shareholder of Transilvania Broker de Asigurăr...

05/07/2024

Catinvest announces a €36 million (178 million lei) investment in expanding Craiova's ElectroPutere Parc, enhancing local and national economic infrastructure with significant retail space and new international brands.

The French real estate group Catinvest has announced a significant investment of €36 million (178 million lei) to expand the ElectroPutere Parc in Craiova. This development will strengthen the center's position as the premier shopping destination in Oltenia, with over 100,000 square meters of reta...

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"A Midsummer Night's Dream" at the Romanian Athenaeum on the 5th of June! Don't miss the chance to be part of this extraordinary event! Book your tickets now for a mesmerizing evening of opera and symphony. Tickets are available online on the EVENTIM website: https://www.eventim.ro/ro/bilete/visul-unei-nopti-de-vara-bucuresti-ateneul-roman-639493/event.html Dress code: Black Tie.

Johann Strauss Festival -XXIst Edition Continuing the tradition of the Extraordinary New Year's Concert in Vienna, the Teaha Foundation together with TheBizz and DeBizz Magazine are pleased to invite you to the XXIst edition of the Johann Strauss Festival, featuring an exceptional concert performed by the George Enescu Philharmonic Orchestra, under the baton of the talented conductor Constantin Grigore. The event will take place on Saturday 13 January, starting at 18:30, on the stage of the prestigious Romanian Athenaeum. Tickets are available on EVENTIM or at the following link: https://www.eventim.ro/ro/bilete/festivalul-johann-strauss-bucuresti-ateneul-roman-554921/event.html

The Johann Strauss Festival continues its series of extraordinary concerts in Sibiu, celebrating its anniversary edition with a concert performed by the Sibiu State Philharmonic Orchestra, conducted by Cristian Spătaru, on Saturday, May 20, starting at 18:00, at the Thalia Hall. Tickets are available on EVENTIM: https://www.eventim.ro/ro/bilete/festivalul-johann-strauss-sibiu-filarmonica-de-stat-sibiu-sala-thalia-549797/event.html

Don't miss the XXth Edition of the Johann Strauss Festival! The anniversary concert will be performed by the George Enescu Philharmonic Orchestra under the baton of conductor Constantin Grigore, on Saturday, January 28, at 6:30 pm, on the stage of the Romanian Athenaeum. Tickets here: https://www.eventim.ro/ro/bilete/festivalul-johann-strauss-bucuresti-ateneul-roman-600843/event.html The programme includes unique pieces by Georges Bizet, Iosif Ivanovici, Carlos Gardel, Ciprian Porumbescu, Eugen Doga, Josef Strauss, Johann Strauss II, Piotr Ilyich Tchaikovsky, Grigoras Dinicu, and many other famous composers.