Global Gold Demand Reaches 1,238 Tons in Q1 2024
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 investment gold purchases, including bars […]
TBI Bank Reinvests Entire €42.5 Million Profit from 2023
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 shareholders now opting to reinvest the […]
Partners Financial Services Becomes Largest Shareholder of Transilvania Broker de Asigurări
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 Asigurări. The move is part of PFS’s expansion strategy, following its entries into […]
Catinvest Invests €36 Million in Expanding Craiova’s ElectroPutere Parc
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 retail space. Catinvest’s expansion includes the opening of a new Leroy […]
National Day of the Romanian Accountant Celebrates 20th Edition with a Focus on Smart Accounting
The Body of Expert and Licensed Accountants of Romania (CECCAR) will celebrate the 20th edition of the National Day of the Romanian Accountant on July 13, 2024. This important event highlights the crucial role of accounting in driving business success and national economic growth, building on centuries of accounting tradition in Romania. This year’s celebrations, […]
Schneider Electric Appoints Mihai Kis as New Sales Director for Romania, Moldova, and Armenia
Schneider Electric has strengthened its management team by appointing Mihai Kis as the new Sales Director for Distributors in Romania, Moldova, and Armenia. This strategic appointment is poised to drive future growth, create new jobs, and attract foreign investment in the region. Mihai Kis, a graduate of the Technical University of Cluj-Napoca with over 22 […]
Delgaz Grid Invests Over 375 Million Lei (€76 Million) in Low Voltage Lines and Transformer Stations
Delgaz Grid, a member of the E.ON Group in Romania, announced significant investments in modernizing low voltage lines and transformer stations, amounting to over 375 million lei (€76 million). Out of this total, 286 million lei (€58 million) is sourced from the Modernization Fund. To date, Delgaz Grid has submitted 20 investment projects totaling 33 […]
Apa Nova București Reduces CO₂ Emissions by 623 Tons in 2023
Apa Nova București, the city’s water supply and sewerage service provider, has published its 2023 Sustainability Report, highlighting significant achievements in environmental protection and sustainable development. Key milestones include a reduction of CO₂ emissions by 623 tons, primarily through the implementation of photovoltaic panels, and an increase in the share of renewable energy sources to […]
Rohlik Group Secures $170 Million to Fuel European Expansion Ahead of IPO
Rohlik Group, a leading European food retail technology company and online grocery market player, has secured $170 million (160 million euros) in new growth capital. The investment, led by the European Bank for Reconstruction and Development (EBRD), includes participation from existing investors Sofina, Index Ventures, Quadrille, and TCF Capital, complemented by growth funding from the […]
Swiss-Romanian Chamber of Commerce Facilitates Solutions for Hospitality Industry Challenges
The Swiss-Romanian Chamber of Commerce (CCE-R) is stepping in to help Romanian hospitality companies overcome significant workforce challenges by facilitating connections with Swiss training programs and solutions. These partnerships aim to enhance the skills and competencies of future managers, ensuring sustainable growth and development in the sector. Investing in Professional Development Romanian hospitality employers are […]