BUSINESS
Dimitrios Goranitis, Deloitte Romania
Photo: Deloitte Romania

From 2010 to 2020 – this time the bank is the good guy

de Dimitrios Goranitis Deloitte Romania
Miercuri, 7 Apr 2021 English | Business
Romania is performing better than most European peers in managing the pandemic, hence it avoided the lockdown for the first quarter of 2021. The National Institute for Statistics announced that the economy contracted in 2020 by only -3.9%, a much better result than World Bank or IMF predictions. In 2019, Romania was classified as a high-income country and the local exchange entered emerging market status. However, the renowned European Recovery Fund is still on paper, Romania has been traditionally weak in absorbing EU funds and the global market trust in Romania is significantly impaired. The dynamic of the local economy is there, but will it materialize?
Andreea Smedoiu, Andrei Burz Pinzaru, Radu Dumitrescu
Photo: Deloitte Romania

Deloitte study: the COVID-19 crisis will accelerate the CEE banking sector consolidation; Romania had one of the largest number of banking transactions in the region

de HotNews.ro
Joi, 28 Ian 2021 English | Business
The COVID-19 crisis is expected to accelerate the consolidation of the banking sector in the Central and Eastern Europe (CEE) in the following years, as smaller players might not be able to weather the profitability and capital challenges, according to the latest edition of Deloitte CEE banking M&A study, conducted in 16 countries, including Romania. Robustness is paramount amid economic shocks and the CEE banking sector is still very fragmented, with a number of players with marginal market share, the study explains.
Radu Plop
Photo: TMF Romania
Article supported by TMF Romania

Ready-made companies after recent legislative changes –Still an attractive solution?

de Smile Media
Marţi, 8 Dec 2020 English | Business
When it comes to extending the network of companies held under a specific structure in Western Europe, ready-made companies are a popular alternative to incorporating a company from scratch. In fact, the rule is to acquire a ready-made company from a specialized provider and the exception is to incorporate one. Ready-made companies, also named “shelf companies” or more accurately, “off-the-shelf companies” are companies incorporated by specialized providers with the purpose of being sold to investors who need a new company in a respective jurisdiction. The name describes them quite accurately – such companies are a simple set of documents and do not hold any assets, do not have any employees, they leave all of this to the decision of the buyer and, according to the local legislation of each jurisdiction.
Georges Durdilly
Photo: Airbus Helicopters

Georges Durdilly, Airbus Head of Country Romania: “As for every industrial company, business viability is essential”

de Raúl Sánchez Costa HotNews.ro
Joi, 3 Dec 2020 English | Business
“As for every industrial company, business viability is essential. This explains the 16 helicopters order needed to move forward”, affirms to HotNews.ro Georges Durdilly, Airbus Head of Country Romania, who remarks “it would also be an important message that Romania, as a host country, is the launching customer and has trust in a product that will be, after all, produced locally – made in Romania”.
Deloitte Romania Team/ Transaction CEZ-Macquarie
Photo: Deloitte Romania

webPR Deloitte Romania advised CEZ Group in the sale of seven of its Romanian subsidiaries to the infrastructure investor Macquarie Infrastructure and Real Assets

de Deloitte Romania
Joi, 12 Nov 2020 English | Business
Deloitte Romania advised the Czech energy group CEZ in the sale of seven of its Romanian subsidiaries, active in electricity distribution, supply and renewables, to the infrastructure investor Macquarie Infrastructure and Real Assets (MIRA), one of the world’s leading alternative asset managers, owned by the Australian group Macquarie. The assets included in the transaction are CEZ Romania’s electricity distribution network, the electricity and gas supply business, with 1.4 million clients, and the largest onshore wind park in Europe, located in Fantanele–Cogealac. This is considered a landmark deal in the Romanian mergers and acquisitions market and the largest transaction in the energy sector in the last years. The agreement was signed at the end of October 2020 for an undisclosed amount and is subject to approval from the European Antitrust Authority and the Romanian Supreme Council of Defence.
Vladimir Aninoiu
Photo: Deloitte Romania

webPR: Deloitte Romania launches Digital DNA, a solution for assessing companies’ level of digital maturity

de HotNews.ro
Joi, 5 Nov 2020 English | Business
Deloitte Romania launches Digital DNA, a solution for assessing companies’ level of digital maturity based on 23 characteristics that define their structure, operations and behavior. Digital DNA addresses mainly SMEs and can be a starting point in setting the digital transformation strategy. The solution is based on a methodology created by Deloitte’s global network of experts based on extensive research conducted by analysing hundreds of studies and articles in the field.
Vlad Boeriu
Photo: Deloitte Romania

The post-Brexit agreement appears to be work-in-progress, even though the transition period will soon come to an end. What will be different in 2021?

de HotNews.ro
Luni, 2 Nov 2020 English | Business
The withdrawal of the United Kingdom from the European Union, even though seems closer and closer to completion, continues to create confusion regarding the terms under which the relationship between the two entities will be performed on all levels, from those affecting the citizens of countries involved, to the commercial and administrative ones, starting from January 1, 2021. The post-Brexit agreement, which has to bring clarity to some aspects, it is still being negotiated, even if the deadline is very close. Considering this, at least from a commercial relationships’ point of view, it is essential for all the companies to prepare for substantial changes and to finalize all the necessary administrative measures before December 31, 2020.
Oana Buhaescu
Photo: Deloitte Romania

Deloitte study: Europeans' concerns regarding financial and employment problems diminished in the first four months since COVID-19 restrictions have eased

de HotNews.ro
Marţi, 27 Oct 2020 English | Business
Europeans' concerns regarding their financial and employment problems diminished in the first four months since the first COVID-19 restrictions imposed by the authorities have eased, according to Deloitte State of Consumer Tracker survey, with two-thirds of respondents being more open to the idea of making large purchases and more relaxed about the stability of their job. Nevertheless, Europeans are still as concerned about their physical well-being as they were during the lockdown (47% at the end of August, compared to 48% in May). European trends are in line with the global ones. The survey was conducted on 18,000 respondents from 18 countries, including nine European states - Belgium, France, Germany, Ireland, Italy, the Netherlands, Poland, Spain and the United Kingdom.
Ciprian Gavriliu, Partener Deloitte Romania
Photo: Deloitte Romania

Deloitte study: The pandemic speeds up big cities’ decisions to limit traffic and expand space for cyclists and pedestrians

de HotNews.ro
Joi, 22 Oct 2020 English | Business
The lockdown caused by the COVID-19 pandemic seems to accelerate the changes already analyzed before by local authorities, such as transformation of city centers into more friendly areas for pedestrians and cyclists, according to Deloitte 2020 City Mobility Index. Cities that have reclaimed street space from cars to enable physical distancing for cycling and walking are looking to cement those changes in a post-coronavirus world, shows the study, which measures mobility performance in 21 cities around the world, including seven European cities - Amsterdam, Barcelona, Dublin, Lisbon, London, Manchester, Rome and Stockholm.
Alexandru Reff, Country Managing Partner, Deloitte Romania
Photo: Deloitte Romania

Social Progress Index analyzing the quality of life and social wellbeing: Romania maintains its position on the 45 th place in the global ranking

de HotNews.ro
Miercuri, 7 Oct 2020 English | Business
Romania ranks again 45 th out of 163 countries and is surpassed by all the other EU member states, according to the 2020 Social Progress Index, which analyzes the quality of life and social wellbeing and is conducted by the non-profit organization Social Progress Imperative with the support of Deloitte. Romania registers a score of 78.35 points out of 100, slightly higher than last year, which places it among the ranking’s third category countries, after Barbados, Bulgaria and Mauritius.
Dimitrios Goranitis
Photo: Deloitte Romania

Why Romania should enter the Banking Union even without adopting the Euro

de HotNews.ro
Luni, 5 Oct 2020 English | Business
The Banking Union was Eurozone’s response to the financial crisis of 2010. It became apparent to the Eurozone countries that the stability of the banking sector is paramount to the well-being of the economy and the society, and that national supervision was often inadequate and lacking in independence. As a result, the sector was developing systemic risks and distortions in competition, while preventing the flow of lending to the rightful recipients and distorting the local economy.
Radu Dumitrescu
Photo: Deloitte Romania

Deloitte survey: New loan disbursements can rebound in 2021, supported by regulatory measures to sustain the lending activity of banks

de HotNews.ro
Joi, 1 Oct 2020 English | Business
Banks in Central and Eastern Europe expect new loan disbursements to rebound in 2021, supported by regulatory measures aiming to sustain the lending activity, after a significant year-on-year decrease in 2020, according to COVID-19 CEE banking sector impact survey, conducted by Deloitte in 12 countries in the region, including Romania. The loan demand decreased in the second quarter of 2020 in sectors such as hospitality, transport and storage, real estate and construction, as well as manufacturing. On the other hand, sectors such as wholesale and retail trade and agriculture saw an increase in the demand for loans, according to the survey.
Cristina Cojocaru, Larisa Popoviciu, Maria Nitulescu
Photo: Deloitte Romania

Deloitte Romania and Reff & Associates assisted Haier Tech in the EUR 53 million project for building a household appliances factory in Prahova county

de HotNews.ro
Joi, 3 Sept 2020 English | Business
Deloitte Romania and Reff & Associates, the law firm representing Deloitte Legal global network in Romania, provided assistance to Haier Tech, a Romanian company belonging to the Haier Group, in the project for building in Prahova county the first Haier’s refrigeration factory in the European Union. After assisting Haier Tech in obtaining the financing agreement for state aid in December 2019, Deloitte’s Management Consulting practice is now advising Haier Tech in the implementation of the large investment project that exceeds EUR 53 million, for which the state will provide aid of EUR 25 million.
Vladimir Aninoiu
Photo: Deloitte Romania

Deloitte survey: organizations spend less than 5% of revenues on technology

de HotNews.ro
Joi, 27 Aug 2020 English | Business
Organizations around the world spend less than 5% of their revenues on technology, even so-called tech vanguards - companies with a well-defined vision and strategy and a mature tech function -, according to the 2020 Deloitte Global Technology Leadership Study, conducted on 1,300 technology and business leaders across 69 countries, including Romania. The study also reveals that only 11% of organizations are tech vanguards and that almost a third of leaders in such companies (29%) are likely to play a visionary role, twice more than leaders in baseline organizations (14%).
Radu Dumitrescu
Photo: Deloitte Romania

Deloitte survey: Central European private equity firms hit lowest confidence level since the financial crisis, but they are more optimistic than in 2008

de HotNews.ro
Luni, 24 Aug 2020 English | Business
Central Europe’s private equity (PE) firms’ confidence hits lowest level since the global financial crisis, as a result of the COVID-19 impact, but deal-doers are more optimistic than during the 2008 crisis, according to the latest Deloitte CE Private Equity Confidence Survey. The confidence index, which has been decreasing since the end of 2017, is now at 62, the second historical lowest after October 2008, when it reached 48. Seven in ten professionals in Central Europe private equity houses forecast a decline in market activity and worsening economic conditions, given that the regional economies, which are largely consumer-driven, are expecting significant GDP contraction in 2020 amid demand shrink caused by unemployment rise.
Ruxandra Băndilă
Photo: Deloitte Romania

Deloitte study: companies redirected almost half of the marketing budgets towards social media and mobile activities during the COVID- 19 pandemic

de HotNews.ro
Joi, 20 Aug 2020 English | Business
During the COVID-19 pandemic, companies redirected almost half of the marketing budgets (46%) towards social media and mobile activities, according to the latest edition of Deloitte Chief Marketing Officer (CMO) Survey, twice as much as before the pandemic. The study also emphasizes that marketers anticipate a continuous growth for mobile spending over the next 12 months, while spending on social media will remain close to the new high level. Deloitte CMO Survey was the result of an analysis of almost 300 responses from top marketers active in 13 industry sectors in US.
Dan Bădin
Photo: Deloitte Romania

webPR: Deloitte launches SmarTax app which automates companies’ corporate income tax compliance process

de HotNews.ro
Miercuri, 19 Aug 2020 English | Business
Deloitte Romania launches SmarTax application, a digital tool that allows companies to calculate and prepare the quarterly and annual corporate income tax (CIT) computation based on accounting documents available on any fixed or mobile device connected to the internet, thus digitizing their compliance process with corporate income tax reporting requirements. The application incorporates the entire fiscal legislation in force, while also remaining flexible to adjust to any future changes in the corporate tax area.
Andrei Ionescu
Photo: Deloitte Romania

Revolut is the fastest growing technology company in Europe, the Middle East, and Africa, according to the latest Deloitte Fast 500 competition

de HotNews.ro
Joi, 13 Aug 2020 English | Business
Revolut is the fastest growing technology company in Europe, the Middle East, and Africa, according to the latest Deloitte EMEA Technology Fast 500 competition. The ranking also includes the Romanian companies Tremend, Piconet, Trencadis and Qualitance, active in fields such as software and fintech, all of them previously recognized by Deloitte’s competition dedicated to technology players with the fastest revenue growth in Central Europe, Technology Fast 50.
Zeno Căprariu
Photo: Deloitte Romania

Deloitte study: Central Europe CFOs reach pessimism peak amid uncertainty caused by the COVID-19 pandemic

de HotNews.ro
Marţi, 11 Aug 2020 English | Business
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.
Radu Dumitrescu
Photo: Deloitte Romania

webPR: Deloitte Romania advised the construction materials local leader, TeraPlast Group, in the sale of its steel division to the Irish group Kingspan

de HotNews.ro
Vineri, 31 Iul 2020 English | Business
Deloitte Romania advised TeraPlast Group, the largest Romanian producer of construction materials, in the sale of its steel division to the Irish group Kingspan, global leader in insulation and building envelope solutions, which was already present on the Romanian market. The transaction refers to the entire participation held by TeraPlast in the thermo-insulating panel factories TeraSteel in Romania and in Serbia, as well as in the metal tile producer Wetterbest. The agreement is subject to approval from the competition bodies. The value of the sold division has been assessed at 410 million lei, and the final price will be established after adjustments with the net debt and the working capital.

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