Central Europe chief financial officers have reached a pessimism peak as their confidence about the economic outlook and the wider business environment continues to fall amid the uncertainty caused by the COVID-19 pandemic, according to the latest Deloitte CE CFO Survey, conducted on more than 300 leading finance professionals in six countries - the Czech Republic, Estonia, Latvia, Lithuania, Poland and Romania. Almost three quarters of the respondents (72%) stated they were less optimistic about their companies’ financial prospects than before the new coronavirus outbreak, with Polish leading the top of the pessimistic (79%), followed by Romanians (75%). The study also shows significant shifts in the perceived levels of uncertainty facing respondents’ businesses, considering that an average of 36% respondents felt a high level of external financial and economic uncertainty in the pre- outbreak edition of the survey, compared to almost 70%, in the latest edition.
Nusco Imobiliara, part of the Nusco group controlled by Italian family Nusco in Romania, contracted a EUR 31.4 million loan from OTP Bank Romania to develop the second stage of Nusco City, the bank announced. The funds will finance the development of three of the seven buildings included in the second development stage. The second […]
Belgium retail group Ahold Delhaize, which operates Romanian retail chain Mega Image, announced it is opening a technology hub in Bucharest, where it plans to hire 250 experts to develop applications for all the group’s brands in Europe. “This technology hub will bring together the best IT&C specialists to develop innovations that serve consumers of […]
The European Commission announced that it initiated an infringement procedure against Romania because the country fails to pay its bills to independent pharmacies in a timely manner. This puts financial pressure and risks pushing into bankruptcy independent pharmacies, the EC says. The commission decided to send Romania a letter of delay due to public health […]
French utility group Engie nearly doubled the capacity of its wind farms in Romania after taking over WIND Project (ROM) SIX – the operator of an 80MW wind farm located in the eastern part of Romania at Chirnogeni, Constanta county. The Competition Council approved the deal,
Golden Food Snacks, controlled by Greek businessman Konstantinos Mitzalis, announced it completed the takeover of Derpan – a local bakery specializing in the production of packaged pastry set up by local entrepreneurs near Galati, in 2001. The deal was cleared by the Romanian Competition Council in 2022,
Romanian do-it-yourself (DIY) chain Dedeman, controlled by local entrepreneurs, announced the opening of its second store in the western Romanian city of Arad upon an investment of EUR 19 million. The investment includes the value of the 9-ha plot of land, the building, as well as the working capital (value of the inventory) needed by […]
