An exhibition showcasing various depictions of the traditional Romanian blouse ia, including Henri Matisse’s iconic La Blouse Roumaine, is opening this weekend in Bucharest, while Cluj is entering festive mode with...
Measures for company subsidy in 2020 helped HoReCa companies cope with unprecedented challenges but did not solve problems of vulnerable companies. HoReCa sector was the most affected recording a drop of 77% profit reduction, said Alina Popa, Coface commercial manager at a specialized conference. “In 2020, measures meant to save companies helped them get over a year with unprecedented challenges, but did not solve problems of vulnerable companies, but just helped them gain time. Companies have debts, have a reduced capacity, commercial credit went up and we must bear in mind that 2021 support measures were 10-11 times smaller than in 2020 and gradually they will be withdrawn,” said Alina Popa. She added that an increase of the average invoice payment term to suppliers took place and reached 117 days in 2020, which is double the term of ten years ago when it was 60 days. “All these vulnerabilities are higher when companies are smaller and have a lower negotiation power. Small companies are more affected than what this global image shows,” Popa added. The Coface official pointed out that if we look at sectors in which those companies carry out their activities we see less affected sectors like constructions, where debt increase is accompanied by a business figure increase, but we also see sectors with higher debts and lower business figure, like transports, HoReCa, extraction industry and and recreation activity area. “Practically, HoReCa sector was most affected in 2020. It recorded an income contraction of 39% and a 77% profit drop,” Popa pointed out. She participated in the conference “IMM Prepare to get out of crisis”, second edition , organized by the inline publication Profit.ro, next to Team Innovation Media.
An exhibition showcasing various depictions of the traditional Romanian blouse ia, including Henri Matisse’s iconic La Blouse Roumaine, is opening this weekend in Bucharest, while Cluj is entering festive mode with...
Mercenary Horațiu Potra, who faces charges of attempting to undermine constitutional order in Romania, is being flown back to Bucharest under police escort after authorities in the United Arab Emirates approved his extradition,
Simtel (BVB: SMTL), a Romanian engineering and technology company listed on the main market of the Bucharest Stock Exchange (BVB), announced that it inaugurated a 52 MWp photovoltaic park in Giurgiu, the largest solar facility in Romania built through ecological reconversion on degraded industrial land. The project transforms a former industrial ash pit into a […]
North Bucharest Investments announces outstanding results following the addition of Horizon City to its portfolio, one of the largest and most modern residential developments currently in the presales phase. In just three weeks, NBI recorded a 40% increase in reservations, highlighting the strong market interest in this strategically positioned project in the northern part of […]
Untold Universe is set to open its Planeta Crǎciun/Planet Christmas holiday market in Cluj-Napoca on Friday, November 21, turning Piața Unirii into a winter attraction filled with lights, music, and various activities. The 41-day event, organized in partnership with the city hall, marks the start of the city’s festive season and includes hundreds of thousands […]
President Nicușor Dan has signed a decree awarding Major General Matthew J. Van Wagenen one of Romania’s highest military honors, the “Military Virtue” Order, Knight rank, the Presidency announced on Wednesday, November 19. The decoration recognizes the US General’s career in senior command and staff positions...