Romania-based telecommunications group Digi Communications announced its net profit doubled to EUR 54.3 million in H1 2024, on an annual basis. while consolidated revenues grew by 13% to EUR 921 million. The group’s market capitalization is now EUR 1.24 billion after the price of its shares rose 77% over the last year. This puts the annualized profit realized in H1 at 8.8%.
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India’s leading backpacker hostel chain the Hosteller raised USD 4 million in its Series A funding round led by V3 Ventures, along with participation from existing investors including LV Angel Fund, FAO Ventures, Synergy Capital Partners, Unit-e Consulting, Ice. VC (backed by Mrunal Jhaveri), Thrive Ventures, Chirag Jain, and several real estate-based family offices. The funds will be strategically used to expand
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Danish transport giant Maersk on Aug. 21 opened the doors to its largest Logistics Park at Jeddah Islamic Port in Saudi Arabia. The $250million, 225,000 sq m logistics facility provides a list of services under one roof, including: multi-modal connectivity between ocean, land and air transport; warehousing solutions catering for B2B and e-commerce requirements; temperature-controlled warehousing; custom-bonded setup; distribution solutions including first-
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China’s largest oil and gas company PetroChina Co. posted record operating profits for the the six months through June thanks to strong drilling output and higher oil prices, which allowed it to offset weak fuel demand domestically. Global benchmark Brent averaged more than $83 a barrel in the first half, compared with about $80 over the same period in 2023. In the
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Leading European landlord CPI Property Group (CPIG) has published unaudited financial results for the three months ending 30 June 2024. Total assets have reached €21.2 billion and CPIPG’s property portfolio is equal to 18.6 billion (versus €19.5 billion at year-end 2023) reflecting disposals, a modest decline in valuations (-0.8%) and FX movements, partially offset by CapEx investments. “CPIPG’s consistent growth in rental
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Over the first half of 2023, insurance firm Groupama Asigurari retained its top spot on the Romanian overall insurance market, with a yet significant surge in gross written premiums (GWP) of 27.8%, up to RON1.99 billion, y-o-y. With a broad network of agencies and multiple distribution channels, Groupama Asigurari offers a range of products from property and casualty insurance to life and
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Polish retailer of consumer leather goods Wittchen, will open the first store in Romania within the ParkLake Shopping Center in Bucharest, developed by Portugal’s real estate services provider Sonae Sierra. Romania is the 6th market where Wittchen is present. The brand already has stores in Poland (97), Czechia (7), and Hungary (3), with 10 franchised stores in Ukraine as well, while also
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Bucharest-listed OMV Petrom, the largest integrated energy company in Southeast Europe, signed a contract for the purchase of natural gas with BOTAŞ, the national oil and gas company of Türkiye. The contract was signed for a period of 18 months, starting October 2023 and allows for the supply of up to 4 million cubic meters per day. “Natural gas is essential for
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Bucharest-listed One United Properties, the leading green investor and developer of residential, mixed-use, commercial, and office real estate in the Romanian capital, has convened its shareholders for October 9, 2023. The agenda of the ordinary general meeting of shareholders includes the approval of the distribution of interim dividends from the company’s profit corresponding to the first six months of the financial year
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Moldovan fintech platform Fagura got the green light from Romania’s Financial Supervisory Authority (ASF) to start operations in the country of 20 million people. Key elements of this approval process included demonstrating a robust product and technology as well as a solid business plan for the medium and long term, proven risk assessment capabilities, establishing a legal entity in Romania, and committing
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