BUSINESS
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.
Alexandra Smedoiu
Photo: Deloitte Romania

Deloitte study: new housing has become more expensive in most European countries in 2019

de HotNews.ro
Miercuri, 22 Iul 2020 English | Business
New housing has become more expensive in most European countries over the last years, including 2019. Among 23 countries participating in Deloitte Property Index Study, 20 showed growth in prices of new dwellings and only three of them saw a price decrease. Experts in the residential real estate market expected the growth trend to continue in 2020, but they became less optimistic in the context of COVID-19 pandemic. Thus, in almost half of participating countries, the residential market is expected to stagnate this year in terms of price and experts in only six countries have positive expectations.
Ciprian Gavriliu, Partener Deloitte Romania
Photo: Deloitte Romania

Deloitte State of Consumer Tracker: more than half of the European consumers plan to postpone buying a new vehicle

de HotNews.ro
Miercuri, 15 Iul 2020 English | Business
More than half of the European consumers (52%) plan to postpone buying a new vehicle and they will keep their current one longer than originally intended in the context of the COVID-19 pandemic, according to Deloitte State of Consumer Tracker, with respondents from Poland being the most cautious regarding the purchasing behavior (68%), followed by the Irish (61%) and the Spanish (60%). At the opposite end, only 32% of the Dutch have postponed their plans to buy a new vehicle. 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 United Kingdom -, in the second half of June 2020.
Ioana Boca, Sorin Elisei, Mihnea Galgotiu-Sararu
Photo: Deloitte Romania

webPR: Deloitte Romania strengthens management team by appointing two new directors and one partner within Reff & Associates

de Deloitte Romania
Miercuri, 15 Iul 2020 English | Business
Deloitte Romania strengthens its management team by promoting Ioana Boca to Financial Advisory Director, Sorin Elisei to Director within the specialized practice in the energy and natural resources industry, and Mihnea Galgotiu-Sararu to Partner within Reff & Associates, the law firm member of Deloitte Legal global network.
Andrei Ionescu
Photo: Deloitte Romania

webPR: Deloitte Romania opens applications for the 21st edition of Technology Fast 50 Central Europe competition

de Deloitte Romania
Luni, 22 Iun 2020 English | Business
Deloitte Romania opens application for the 21st edition of Technology Fast 50 Central Europe competition, addressed to large and small local companies in the technology sector, public and private, which register accelerated growth. Held simultaneously in other 17 Central European countries, namely Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Serbia, Slovakia and Slovenia, the competition provides both established and emerging technology companies the platform to highlight their leading position in their field of activity.
Irina Dimitriu
Photo: Deloitte si Reff&Asociatii

webPR: Deloitte Legal Romania and Waltmann launch the first solution for a 360-degree evaluation from a medical, technical and legal perspective, dedicated to office buildings and shopping centers

de Deloitte si Reff&Asociatii
Vineri, 19 Iun 2020 English | Business
The reopening of commercial spaces and the return to the office after the relaxation of the restrictions imposed in the context of the COVID-19 pandemic involves a considerable administrative effort for companies, in order to meet the criteria and implement the measures that will offer the green light to resume business. Each company needs to prepare its own set of measures and implement them rigorously, in order to avoid undesirable consequences and risks, based on a plan adapted to its own specificity, so as to reach the “fit-for purpose“ standard, depending on the characteristics of the space and the nature of the activity carried out in the location.
Vlad Boeriu
Photo: Deloitte Romania

webPR: Deloitte Romania appoints Vlad Boeriu Partner-in-Charge of the Tax and Legal practice

de Deloitte Romania
Miercuri, 17 Iun 2020 English | Business
Deloitte Romania has appointed Vlad Boeriu Partner-in-Charge of the Tax and Legal practice, effective as of June 2020, following Dan Badin’s completion of the mandate in this role. Vlad Boeriu joined Deloitte in 2004 as a Tax Consultant and has gone through all the ranks up to Partner-in-Charge. Since 2015, he has been a Tax Partner, a role in which he led the growth of Deloitte Romania’s indirect tax practice.

Zeno Căprariu
Photo: Deloitte Romania
Financial market

Deloitte survey: CFOs in Romania expect massive drop in demand, reduction of revenues and number of employees

de Deloitte Romania
Marţi, 16 Iun 2020 English | Business
The perception of the CFOs in Romania regarding the evolution of the main financial indicators of their companies has changed dramatically in only several months as a result of the COVID-19 pandemic, according to CFO Survey Romania, conducted by Deloitte in April-May 2020 based on opinions expressed by CFOs in our country. Their main concern for this year is the drop in demand, as 73% of the survey participants estimate a decrease of the internal demand, and 45% of them, of the external demand. The share of those who expect revenues reduction is 67%, while at the end of 2019, 78% of them estimated increases in revenues, according to the survey.
Raluca Baldea, Bogdan Barbu, Simina Mut
Photo: Deloitte Romania

webPR: Deloitte Romania strengthens management team by appointing three new partners

de HotNews.ro
Miercuri, 10 Iun 2020 English | Business
Deloitte Romania strengthens its management team by promoting Raluca Baldea and Bogdan Barbu to Tax Partners and Simina Mut to Partner with Reff & Associates, the law firm representing Deloitte Legal global network in Romania.
Dan Bădin
Photo: Deloitte Romania

webPR: Deloitte, recognized as the Tax Firm of the Year at the 2020 European Tax Awards

de HotNews.ro
Joi, 28 Mai 2020 English | Business
Deloitte was awarded the Tax Firm of the Year in Europe and in the CEE Region, for its remarkable achievements in Romania, Bulgaria, the Czech Republic, Slovenia and Slovakia, at the 2020 European Tax Awards, organized by the prestigious International Tax Review (ITR) publication. Deloitte was also named the Tax Innovator of the Year and the Tax Compliance and Reporting Firm of the Year during the 16 th edition of the competition, which recognizes innovative, breakthrough and valuable projects, based on reviews conducted by ITR journalists, market research and clients’ and professionals’ feedback.
Mihai Bucheru, Ioana Ungureanu
Photo: Deloitte Romania

Deloitte Romania and SAS experts: New anti-fraud technology solutions emerge, but companies must ensure cooperation between compliance and anti-fraud departments

de HotNews.ro
Miercuri, 27 Mai 2020 English | Business
A typical fraud case lasts 14 months before detection and causes a loss of over $8,000/month, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. When considering today’s financial landscape, where transactions happen under one second, and the current age of economic turmoil that COVID-19 has caused on a global scale, these challenges and risks become all the more threatening, underlined Deloitte Romania and SAS experts in a series of webinars on fraud detection, anti-money laundering (AML) and use of analytics for these fields. However, there are reasons to be optimistic, as 55% of organizations expect to invest more in anti-fraud technology over the next two years, according to ACFE’s 2020 Anti-Fraud Technology Benchmarking Report, and new approaches to fraud prevention emerge, combining rules-based systems with machine learning and AI-based fraud detection systems that enable the identification of thousands of fraud patterns.
Dimitrios Goranitis
Photo: Deloitte Romania
Opinion

Is the pandemic revealing Romania’s potential to become an EU supply chain superhub?

de Dimitrios Goranitis HotNews.ro
Miercuri, 13 Mai 2020 English | Business
For the last three decades, Romania has enjoyed unprecedented growth. Since 1987, the country has increased its GDP by a staggering amount of $200 billion. Its main trade partners include Germany, Italy and France and its main trade exports are vehicles/vehicle parts and insulated wire, retaining however significant market share in the international food supply chain with grains (wheat, corn) and pig meat. The services industry however is accounting for 55% of GDP and employs two thirds of the labor force. Retail aside, a very high impact in the services sector is delivered by the model of shared services centers established by global corporations harvesting the benefit of highly skilled personnel at a cheaper labor cost within the security of EU and its regulatory framework. What would be the dynamic of the Romanian opportunity in the future?
Dimitrios Goranitis
Photo: Deloitte Romania
Opinion

Why the most significant macroeconomic risk is not the upcoming recession, but the collapse of the Euro and the European Union

de HotNews.ro
Luni, 27 Apr 2020 English | Business
Ten years after the credit crisis, the European Union demonstrates that it has learned very little on how to unite and decisively take pan-EU measures to tackle crisis and support recovery. A series of long negotiations between the major economies of the South versus the North, with the European Central Bank (ECB) awkwardly stuck in the middle, not only doesn’t address the sustainability of the European economy as a total, but it feeds, as in the last crisis, the speculative appetite of the markets towards sovereign debt of the weaker links. However, this time, EU is not called to bail out a small economy like Greece, but Italy and Spain, its 3rd and 4th largest economies, accounting for approximately EUR 3.5 trillion of its Gross Domestic Product.
Burcin Atakan, Ioana Ungureanu
Photo: Deloitte Romania

Banking fraud, AML and KYC compliance in the era of COVID-19

de Burcin Atakan, Ioana Ungureanu Deloitte Romania
Joi, 23 Apr 2020 English | Business
As the new coronavirus continues to spread across the globe, top-down measures are imposed to slow down its effects and minimize potential damages. Countries across the globe are taking diversified approaches to fight against the virus spread. When these measures are combined with the long awaited recession, being hit by a financial crisis in the virus era is inevitable.
Dimitrios Goranitis
Photo: Deloitte Romania
Opinion

Why Romanian economic recovery requires helicopter money to individuals

de Dimitrios Goranitis HotNews.ro
Marţi, 7 Apr 2020 English | Business
A global black swan is not an ordinary crisis. You can only avoid the shock of a global lockdown by providing a lifeline to the system until the system operates again and the intervention needs to be substantial, immediate and decisive. If you allow the system to incur damage, then the years and cost of recovering from that damage are a lot more expensive that the lifeline. This is what the crisis of 2008 taught us. This is no different than a heart attack and a by-pass surgery. Just that this time you do the surgery in a hospital that is under attack by a virus.
Hidroelectrica
Photo: AGERPRES

Economy minister sees EBRD involved in listing of Romanian energy major Hidroelectrica

de Editorial Staff HotNews.ro
Vineri, 31 Ian 2020 English | Business
Romania's Economy minister Virgil Popescu said in an interview with HotNews.ro on Thursday that works was underway for the listing of major energy company Hidroelectrica. He said his government wanted to list it on the exchange this year.
OMV Petrom
Photo: OMV Petrom

OMV Petrom interested in Bulgarian Black Sea gas

de Editorial Staff HotNews.ro
Marţi, 17 Dec 2019 English | Business
Romanian oil major OMV Petrom eyes the takeover of the stake held by OMV Offshore Bulgaria GmbH in the Han Asparuh exploration field in Bulgaria, by buying the stake from OMV Exploration&Production GmbH. THe company says certain conditions have to be met before the conclusion of the deal, which is expected to take place before mid-2020.
Preturi energie
Photo: Eurostat

ArcelorMittal plants threatens with suspended production over energy prices despite EU figures

de Editorial Staff HotNews.ro
Joi, 12 Dec 2019 English | Business
A Hunedoara, Romania-based plant controlled by ArcelorMittal has threatened to suspend production as a reaction to market conditions and high energy prices. The threat came a day after Romanian PM Ludovic Orban himself also talked about state assistance that should be given to siderurgic and petrochemical companies because of high energy and natural gas prices. But official figures are different than those circulated by the PM and ArcelorMittal.
Standard & Poor's
Photo: Flickr/ eflon

​S&P revises outlook on Romania to negative over deficits

de Editorial Staff HotNews.ro
Miercuri, 11 Dec 2019 English | Business
S&P Global Ratings has revised its outlook on Romania from stable to negative due to rising fiscal and external deficits, while affirming its long- and short-term foreign and local currency sovereign credit ratings at 'BBB-/A-3'. It pointed to planned wage and pension increases largely decided by the previous Social Democratic government as contributor to widening the country's current account deficit.
Teodor Blidarus
Photo: StartupCafe.ro

Romanian startup FintechOS raises $14 million in Series A investment

de Raluca Abrihan HotNews.ro
Marţi, 10 Dec 2019 English | Business

FintechOS announced today that it has raised a 14 milion USD 14M Series A round to continue its hyper accelerated growth and further development of the platform, StartupCafe.ro reports.


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