Romanian President Klaus Iohannis decided on Friday not to approve a new fiscal code that the government has been pushing hard and decided to sent it back for review in the Parliament. The president warned that the measures included in the new code, among which a series of tax cuts which were lauded by the business community, would have major effects on budget building for the upcoming years. The decision prompted harsh reactions from the prime minister, his finance minister and the governing Social Democratic Party (PSD), with promises that the value added tax would be pushed through an emergency ordinance this year any way.
Kingswood Capital Management has signed an agreement to acquire the medical products manufacturer Drive DeVilbiss Healthcare from the private investment firm CD&R. Drive DeVilbiss has been present in Romania since 2005, with a factory in Bistrița, where the company produces its Ticco raised toilet seat, Delphi shower stools and Bellavita Nova bath lifts, according to
The National Agency for the Development of Health Infrastructure (ANDIS) and the Turkish group CCN signed the contract for the construction works on the Iași Regional Emergency Hospital on October 17. The value of the contract amounts to RON 1.69 billion (around EUR 340 million),
Egg producer Toneli has opened a breaker egg factory in Costeştii din Vale, in Dâmboviţa county, following a EUR 5 million investment. “Toneli has been active in this sector (e.n. breaker eggs) for four years, but we were outsourcing this service to a partner in Bulgaria. Now, we have built a factory from scratch,” Florin […]
Compa Group, one of the largest manufacturers of automotive components in the country, has started the second phase of Arsenal Residence, a residential complex located near the Sub Arini Park in Sibiu, in central Romania. The total investment exceeds EUR 30 million, and follows the company decision to diversify into the real estate market,
Mplus, the BPTO vertical of Croatia’s Bosqar Invest (ZSE: BSQR), has concluded its acquisition of Valoris, the Romanian customer experience (CX) and business process outsourcing (BPO) provider. The acquisition of Valoris further strengthens Mplus's position on the Romanian market and expands its delivery capacity for international markets, the company said. The transaction has received the […]
The Constitutional Court of Romania (CCR) ruled on October 20 that the law that modifies the pension rules for magistrates is unconstitutional. The decision on the law follows a complaint of unconstitutionality filed by the High Court of Cassation and Justice. The law, proposed by the government led by Ilie Bolojan as part of several […]
