miercuri, septembrie 4, 2024
type here...
Acasă Blog Pagina 3

Romania’s M&A Market Reaches USD 7 Billion

Romania News
-
0
Romania’s M&A Market Reaches USD 7 Billion

Romania remains on investors’ radars despite the rising cost of money and inflation. In value, the M&A market exceeded 7 billion dollars in 2023 but was massively supported by two mega transactions. This year is still under the sign of growth, Valahia News reports.

The takeover of Profi by Ahold Delhaize, the owner of Mega Image, for $1.4 billion and the sale of Enel Romania to the Greeks from PPC for $1.3 billion are the essential local transactions and the two mega transactions (worth over 1 billion dollars) from last year. Also, in 2023, there were three other agreements of 200-300 million dollars each, with medium-sized transactions vital for the health of the M&A market.

The steps in a merger and acquisition are complex, but with the help of specialized lawyers, investors overcome any legal challenges.

In 2023, 241 transactions were initiated in Romania, with a total value estimated at almost 7.1 billion dollars, according to an analysis by the audit and consulting company EY. It is about the total value of the market, i.e. both transactions with communicated and uncommunicated value, but estimated by EY, are taken into account.

In terms of volume, the market decreased slightly compared to the maximum reached in 2022 – when 257 agreements were signed, 16 more than last year – but in terms of value, it is the best year (plus 6%).

The data show that Romania remains on the radar of investors in the M&A market despite the rising cost of money and still high inflation, factors that have led to a cautious approach, especially among buyers. However, in value, the market exceeded 7 billion dollars because two mega transactions supported it.

The takeover of Profi by Ahold Delhaize, the owner of Mega Image, for $1.4 billion and the sale of Enel Romania to the Greeks from PPC for $1.3 billion are the most critical local transactions and the two mega transactions (worth over 1 billion dollars) from last year.

The corporate and M&A market is also expected to grow in Romania this year. The country is attractive to investors, and the economic outlook for 2024 is somewhat optimistic, favouring the decision to invest.

Romania National Bank Keeps Monetary Policy Rate at 7% per Annum

Romania News
-
0
Romania National Bank Keeps Monetary Policy Rate at 7% per Annum

The annual inflation rate posted a faster-than-expected decrease in the first two months of 2023 Q4, falling to 6.72 percent in November from 8.83 percent in September, amid the continued slowdown in the growth rate of food and energy prices, as well as following the decline in fuel prices, under the impact of lower crude oil prices.

At the same time, the annual adjusted CORE2 inflation rate saw its downward trend steepen more than anticipated, shrinking to 9.1 percent in November from 11.3 percent in September, against the background of more widespread disinflationary base effects, ebbing agri-food commodity prices and the measure to cap the mark-ups on essential food products, but also in the context of the slower dynamics of import prices.

The annual inflation rate calculated based on the Harmonised Index of Consumer Prices (HICP – inflation indicator for the EU Member States) went down to 6.9 percent in November from 9.2 percent in September 2023. Furthermore, in November, the average annual CPI inflation rate and the average HICP inflation rate fell to 11.2 percent and 10.3 percent, respectively, from 12.6 percent and 11.4 percent, respectively, in September.

In comparison to the same year-ago period, GDP growth rose marginally in Q3, to 1.1 percent from 1.0 percent in Q2, thus remaining modest from a historical perspective, as the change in inventories increased its already powerful contractionary impact, and the contribution of general government consumption became slightly negative. However, gross fixed capital formation saw a re-acceleration in its annual growth to double-digit readings in 2023 Q3, while household consumption posted an annual pick-up after the stagnation in the previous quarter. At the same time, net exports continued to exert a more considerable expansionary impact, given the further widening of the positive differential between the dynamics of exports of goods and services, in terms of volume, and those of imports, amid the latter falling more visibly into negative territory. Consequently, the trade deficit saw a renewed, slightly faster annual decline. In contrast, the current account deficit posted further a significant year-on-year narrowing, albeit somewhat more modest than in Q2, given the slower pace of improvement in the primary income balance in Q3, on account of reinvested earnings.

Essential Guide for Romanian Business Owners in the US: BOI Report Compliance

Romania News
-
0
Essential Guide for Romanian Business Owners in the US: BOI Report Compliance

Are you familiar with the Beneficial Ownership Information (BOI) Report, especially if you’re involved in business within the United States and have a registered company there? This report has been a significant point of focus for some time.

Starting from January 1st, 2024, US companies, under specific conditions, are required to complete the BOI Report. This document’s purpose is to reveal the actual owners of the company and the individuals responsible for decision-making.

The BOI Report, or the Beneficial Ownership Information Report, is a mandatory submission for every US company to the Financial Crimes Enforcement Network (FinCEN), part of the U.S. Department of the Treasury. Its goal is to identify the company’s beneficial owners, those who ultimately have ownership or control, as well as the company applicants and the people who initially registered the company in the US.

In submitting a BOI report, companies must provide details about the business, its beneficial owners, the persons who ultimately own or control the company, the company applicants, and those who first established the company in the US.

The law defines a beneficial owner as anyone who, either directly or indirectly:

  1. Has substantial control over the company, or
  2. Owns or controls at least 25% of the company.

A person able to make critical decisions for the reporting company is seen as having substantial control over it.

There are exceptions to this requirement. However, implementing this legislation is a vital move by the US to combat money laundering, tax evasion, and other illegal activities.

Unsure about whether you need to submit a BOI Report? It’s advisable to consult with firms specializing in the BOI Report process for expert guidance.

Hammond Partnership Law Firm Successfully Assists Eminus Software Acquisition by Fortech

Romania News
-
0
Hammond Partnership Law Firm Successfully Assists Eminus Software Acquisition by Fortech

Hammond Partnership assisted the shareholders of Eminus Software in entering into a definitive Agreement with Fortech, a Global Logic Company, to acquire the business of Eminus Software, a Romania-based software solutions provider specializing in cloud migration and digital transformation. The lawyers from Hammond Partnership consisted of Nicholas Hammond – Partner, and Narcis Bogoiu – Managing Associate.

Hammond Partnership is a Romanian full-service commercial law firm based in Bucharest with a team of lawyers with decades of experience.  The Firm was established in Romania in 2004 and has since provided to a range of clients, both large and small, and individuals doing business in Romania.  With partners who focus on Romania from both the common law and civil law background, they are uniquely placed to provide the legal advice necessary.

Fortech, a GlobalLogic Company and one of Romania’s top software engineering service providers, acquired the business of Eminus Software, a Romania-based software solutions provider specializing in cloud migration and digital transformation. This acquisition further strengthens Fortech’s position in the market and becomes a growth vector of core digital engineering talent within GlobalLogic’s Central Eastern Europe region.

Cloud computing has emerged as a pivotal enabler of digital transformation, providing scalable and cost-effective solutions that empower companies to streamline operations, enhance collaboration, and unlock new growth opportunities. Based in Bucharest, Romania, Eminus Software is a highly reputable provider of .NET, Angular, React, and Azure Services, with substantial experience in cloud migration and digital transformation projects. Their focus on Microsoft technologies, particularly .NET Core and Azure, positions them as valuable partners in assisting their customers’ objective of transferring their technology to the cloud.

Through this acquisition, Fortech is further augmenting its service portfolio with the technical expertise and capabilities of Eminus Software and boosting its depth and ability to scale to meet ongoing and future client demand. Fortech is committed to delivering the highest-quality software services. Adding Eminus will enable it to continue its leadership position while creating client value.

Driven by a shared dedication to innovate, sustain, and seamlessly transition essential business systems software, the Eminus team is enthusiastic about synergizing within the exceptional realm of Fortech—an esteemed member of the GlobalLogic family, bolstered by the Hitachi legacy. This collaboration holds the promise of an amplified customer experience through the unified strength of our triumvirate.

Mark Storey-Smith, Eminus Software’s Managing Director

Romanian Adrian Stoica Wins America Got Talent 2023

Romania News
-
0
Romanian Adrian Stoica Wins America Got Talent 2023

Romanian Adrian Stoica wins America Got Talent – AGT 2023. He also won USD 1 million in prizes, Valahia News reports.

Adrian Stoica performed the same act he did in Romania Got Talent. He came with his border collie named Hurricane, and the dog did most of the magic. The show is incredible, and for those of you who haven’t seen it already, here’s the whole act.

Adrian Stoica and Hurricane in the AGT 2023 Finals

Adrian Stoica even involved Sofia Vergara, one of the judges, in the act, as he invited her on stage, which impressed her. The other judges were also impressed, congratulating Andrei for his dog act.

We see many people come up and show us a dog act but rarely see a dog come up and show us a man act.

Howie Mandel, AGT 2023 judge

Also, Heidi Klum praised Hurricane.

Hurricane is the smartest dog I’ve ever seen, the whole thing was adorable. Thank you so much, you were so amazing this season!

Heidi Klum, AGT 2023 judge

And Simon talked business when he mentioned that Hurricane is better than any other dogs in the movies and that she should be in the movies.

It was like the dog was acting and performing. We watched Beverly Hills Chihuahua last night and Hurricane is better than any of the dogs in that movie, so she should be in the movie or a musical because she’s a star.

Simon Cowell, AGT 2023 judge

Here is the moment when the host announced the winner:

AGT 2023 Finals – Winner Announcement

The winner of the AGT 2023 was somehow unexpected to some and came as a surprise, but all agreed that the dog acted and performed like an actor, not a trained dog.

Adrian Stoica performed in Romania Got Talent one year ago but didn’t impress the audience or make it to the finals.

Picasso Exhibition in Bucharest

Romania News
-
0
Picasso Exhibition in Bucharest

The „Picasso Effect” Exhibition can be visited between September 27, 2023, and January 8, 2024, at MARe/Museum of Contemporary Art Bucharest. 46 works (paintings, drawings, engravings) signed by Pablo Picasso are placed face to face with 65 works (paintings, sculptures, photography, ceramics, graffiti) signed by 37 contemporary Romanian artists, influenced by the work of the most important figure of modern art, Visit Bucharest announces.

Among the Romanian artists exhibited are Ion Grigorescu, Mircea Cantor, Ștefan Bertalan, Alma Redlinger, Neculai Păduraru, Vasile Gorduz, Florin Mitroi, Victor Man, Silvia Radu, Dumitru Gorzo.
The 46 works wandered along beaten paths, from the Musée National Picasso-Paris to Bucharest, for three days and three nights – like a noble wedding.

In the year that marks half a century since Picasso’s physical disappearance, eight countries worldwide, including Romania, celebrate this anniversary through thematic exhibitions. Romania does this at MARe – Museum of Recent Art. Tickets are on sale and can be purchased on the mare.ro website.

Picasso painting exhibited at the Picasso Effect Exhibition in Bucharest

The „Picasso Effect” is one of the most impressive exhibitions in Eastern Europe and certainly the most important in Romania – among the eight countries participating in the Célébration Picasso: 1973-2023 program.

The event is organized in partnership with the Musée National Picasso-Paris. It celebrates 50 years since the death of Pablo Picasso through a program that includes 42 other museums worldwide. Romania is the only country in Central and Eastern Europe included in the large project launched by France and Spain.

iMapp 2023: Videomapping on Palace of Parliament in Bucharest

Romania News
-
0
iMapp 2023: Videomapping on Palace of Parliament in Bucharest

iMapp Bucharest is an international video mapping competition held in Bucharest, Romania. Artists and technology enthusiasts gather to transform the Palace of the Parliament‘s facade into a vibrant canvas.

Through video projections, 3D animations, and sound, the event showcases captivating narratives that engage the senses. Bucharest City Hall organizes the event with the help of The Center for Creation, Art and Tradition of the Municipality of Bucharest (CREART).

The inaugural edition of iMapp Bucharest took place in 2014, marking a new era in Romania’s visual arts scene. Since then, the event has grown exponentially, becoming one of the world’s most significant video mapping competitions.

Past winners have set a high standard, displaying innovative works that merge art with cutting-edge technology. Themes have ranged from historical celebrations to futuristic visions, always captivating the audience with a breathtaking visual spectacle.

iMapp Bucharest 2023: What’s New?

imapp bucharest event cover

iMapp Bucharest promises to be bigger and better this year, with more artists and awe-inspiring displays. Here is what you can expect:

  1. International Talents Artists from over 20 countries will compete, making this year’s event more diverse and inclusive.
  2. Innovative Themes: The 2023 edition will explore new themes, taking viewers on a visual journey like never before. The contest theme is CONTRASTS and will be creatively explored by the artists.
    The contradictions you will see reflect our diverse and deeply human experiences daily. The differences we notice, like past-present, good-bad, and light-dark, hint at how important it is to find balance in natural and emotional ways.
  3. Sustainable Practices: In alignment with global trends, the event will incorporate eco-friendly practices, minimizing waste and promoting sustainability.

The public will admire the 3D works of some of the most valuable artistic teams in the world, winners of iMapp Bucharest partner festivals. These are Video Mapping Festival Lille from France, Genius Loci Weimar Festival (Germany), CosmoLights Projections Mapping (Greece), Zsolnay Light Festival (Hungary), and 1Minute Projection Mapping Competition (Japan).

If you plan to attend the iMapp Bucharest – Winners League, you must know that entry is free. Saturday, September 23, the capital of Romania, is going to light!

Romania Includes Artificial Intelligence as Discipline in University Degree Programs

Romania News
-
0
Romania Includes Artificial Intelligence as Discipline in University Degree Programs

The Romanian Government approved several new specializations and university degree programs, including Cybernetic Security and Artificial Intelligence.

Romanian companies started developing lots of software programs which integrate AI.

On the other hand, there is also the concern about how AI will interfere with our lives in terms of developing artificial intelligence responsibly. Initiatives, such as AI4RO, aim at regulating this field, which could bring chaos if not properly handled. From this perspective, teaching students what responsibility means in cybersecurity and AI development is an excellent opportunity.

Several undergraduate specializations/programs are being established, such as Cyber Security – within the Electronic Engineering, Telecommunications and Information Technologies undergraduate field, Artificial Intelligence within the Informatics undergraduate field.

The Government’s decision will attract thousands of students to these new specialties. Also, Romanian companies can hire specialized employees and develop their internal teams to deal with cybersecurity and AI development.

Romania Has More Casinos than Pharmacies and Schools

Romania News
-
0
Romania Has More Casinos than Pharmacies and Schools

A thorough analysis of e-Context.ro, cited by Valahia News, shows there are more casinos than pharmacies and schools combined in Romania! This is because there are more than 15,000 brick-and-mortar casinos and gambling houses, while there are only 7,000 schools and 8,000 pharmacies. Not even that, but in Romania, there are only 4,000 brick-and-mortar banking units.

Does the name Andrew Tate ring a bell? Tate brothers accumulated their fortune in Romania primarily by becoming franchisors of one of the famous casino chains. One should go to either Vegas or Bucharest to succeed in the casino industry, and the Tates chose Bucharest casinos.

According to the National Institute of Statistics (INS) data, our country has over 15,000 offline betting agencies. Practically, no city or town does not have at least one betting agency. The largest betting agency, according to the number of open units, is TotalBet, which has over 1900 agencies. But most are in small towns and villages, only 38 being opened in the Capital, this agency focusing mainly on the rural environment.

The second position at this top is occupied by Superbet, which has about 1000 agencies open in all big cities. According to turnover, this is the most significant betting agency in Romania.

Econtext study on casinos in Romania

Romania has an even more developed market for online casinos, making the industry even more prominent. Even so, there is one brick-and-mortar casino for every 400 Romanian men, which makes the country one of the casinos heaven in the world.

Romanian Tennis Player Sorana Carstea Replies to Critics: My Post Has a Positive Message

Romania News
-
0
Romanian Tennis Player Sorana Carstea Replies to Critics: My Post Has a Positive Message

Sorana Carstea is accused of transphobia after she posted this message on Instastory: Make Men Masculine Again. Make Women Feminine Again. Make Children Innocent Again.

Sorana Carstea controversial message

Otherwise entirely innocent, this message has been interpreted by progressists and LGBTQ activists as transphobic.

Sorana Carstea replied for Eurosport, explaining what was behind this message:

It was a message that came after I arrived at Wimbledon, and it was a positive message. Yesterday I saw the Princess of Wales, Kate. I was highly impressed by her elegance, the elegance of the ladies here, how nicely the men are dressed, all in suits and ties, and how much discipline in the children, what innocence. It all came from my admiration of mine for this tournament and all the beautiful things I’ve seen here that this tournament has.
It was a positive message that, in general, today could be interpreted any way, but the message was a positive one, related to the elegance of this tournament. I smile when I see how beautiful the world in the stands, how beautiful they are, the spectators here and how much class there is in this tournament. Hence the inspiration for this post. So the idea behind this post was a very positive one.

Sorana Carstea explains her post after being accuses of transphobia

So, we have to admit that the critics are utterly exaggerated. If one cannot urge women to be feminine and men masculine, all the values that the leftists promote, including the freedom of speech and the freedom to all people, disregard their opinion, is fake.

People should be allowed to express their opinion, no matter what. This is what freedom of speech means. Apart from that, one contrary opinion to the other, even to the majority, doesn’t mean that opinion is right or wrong – it is just an opinion. Sorana Carstea should be left alone to express her opinions and ideas like anyone else.

This doesn’t mean that Sorana is transphobic or that Romanians are homophobic. It means just one thing: Romanian people want to have the right to express their views. This means freedom of speech. This differentiates democracy from communism, which crippled Romania for 45 years until the so-called Revolution in 1989.

Maybe the Western and the local critics yearn for the return of communism in Europe. This might be a reality someday, as this is where all this progressivism heads to. But, until then, people must have the right to express their ideas. This is the basis of any democracy in the world, and last time Sorana checked, she understood she lived in a democratic Romania and a democratic European Union.

1234...15Pagina 3 din 15

Category

Links

Stay connected

Newsletter Signup

- Advertisement -spot_img

© RomaniaNewsToday | All rights reserved.