OMV Petrom, the leading integrated energy producer in Southeast Europe, has entered a strategic partnership with NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, to advance exploration in the Han Asparuh offshore block in Bulgaria. Under the agreement, OMV Petrom will transfer 50% of its interest in the block to NewMed Energy, while retaining its role as operator. NewMed Energy will cover a significant portion of the exploration and evaluation costs.
Accor reported a robust third-quarter performance in 2024, with revenue reaching 1.434 billion euros, marking a 12% increase compared to the same period last year. This growth was driven by the Group’s Luxury & Lifestyle brands, the strategic expansion in high-potential regions, and the positive impact of the Olympic Games in France, where Accor held Premium Partner status.
OMV Petrom has published its financial results for the first nine months of 2024, showcasing a solid performance despite a challenging market environment marked by price volatility and increased regulatory pressures. The company recorded an operating result, excluding special items, of 4.8 billion RON.
SARMIS Capital, a leading investment fund focused on Romania and neighboring countries, has acquired a majority stake in MG-Tec Industry, one of Romania's largest independent tissue paper producers. This acquisition, which has received all regulatory approvals, aims to provide the strategic and financial backing necessary for MG-Tec Industry to solidify its position as a regional leader.
Lidl România has announced a significant investment in education, contributing 265 million RON to the Teach for Romania program as part of their "Back to School" campaign. This amount, which represents an increase of 115 million RON compared to last year, will enable the expansion of educational initiatives across the country, aiming to provide quality education to children from vulnerable communities.
EVOLOR, a major player in Romania's paint and varnish industry, has inaugurated a new high-tech production facility on the Oltchim industrial platform in Râmnicu Vâlcea. This investment, worth EUR 3 million, is part of the company’s strategy to enhance production capabilities and expand its market reach.
The American Chamber of Commerce in Romania (AmCham Romania) has released its "Priorities for Romania 2024-2028," outlining key business recommendations to drive sustainable economic growth over the next four years. The report highlights critical areas for investment and reform, positioning Romania to enhance its competitiveness, attract more foreign investment, and modernize key sectors.
CEC Bank, one of Romania's leading financial institutions, reported significant growth for the first half of 2024, with a net profit of 279,8 million lei. The bank’s total assets saw a substantial increase of 35% compared to the same period last year, reaching 93,23 billion lei.
The Romanian-German Chamber of Commerce and Industry (AHK Romania) organizes during 24-25 October 2024 the conference Cities of Tomorrow. The event, now in its 12th edition, will take place this year in Oradea, having Oradea City Hall as partner, with the support of Bihor County Council and Visit Oradea.
SARMIS Capital has announced a major acquisition in Romania’s facility management sector, acquiring AEK Security, AEK Firefighters, and Deziclean. This strategic move solidifies its position as the largest player in the country’s integrated facility management market. The newly expanded entity now manages services across more than 15 million square meters of building space, generating an annual turnover exceeding €80 million.
