Annual worldwide corporate R&D spending increased by 11% in 2018, totaling US$782bn in annual investment, based on an annual analysis of the 1000 largest global public companies by R&D spend conducted by PwC’s Strategy&.
The hunt for secure long-term income is driving European real estate investment as the industry hedges against potential interest rate rises and an uncertain geopolitical backdrop, according to Emerging Trends in Real Estate® Europe 2019.
€1.3 trillion could be released from the balance sheets of globally listed companies if they take steps to address working capital efficiency, according to the findings in PwC’s latest report Navigating Uncertainty: 2018 Annual Global Working Capital Study.
European IPOs raised €3.9bn in Q3 2018, down by 53% from Q3 2017 when €8.3bn was raised, according to PwC’s latest IPO Watch Europe. A lack of mega-IPOs contributed to the low values raised in Q3, with SIG Combibloc Group on the SIX Swiss exchange the only listing larger than €1bn at €1.7bn. This was the second largest IPO of 2018, behind Siemens Healthineers AG in Q1 2018 which raised €3.7bn.
The survey Building blockchains for a better planet developed by PwC for World Economic Forum and launched at Global Climate Action Summit, identifies more than 65 ways blockchain can be applied to the world’s most-pressing environmental challenges. The report is part of the 4th Industrial Revolution project examines how new global platforms could incubate responsible blockchain ecosystems.
The overall private labour market salaries in 2018 were slightly higher than the planned levels. Nationwide, salaries increased by 6.4% higher than the planned adjustment (5.7%), according to the 20th edition of PayWell Salary and Benefits Survey conducted by PwC Romania.
Private businesses across Europe see regulation and bureaucracy in their domestic economies as more of a threat to the development of their companies than regulation and bureaucracy coming from the European Union (EU), according to PwC’s European Private Business Survey. In the report surveying 2,447 companies across 31 European countries, 39% said domestic red tape was a concern, compared with about 29% citing EU red tape as a problem.
ECOFIN (Economic and Financial Affairs Council of the European Union) has recently decided that EU Member States "most affected by VAT fraud" will be able to apply, by 30 June 2022, under very strict technical conditions, the generalized reverse charge mechanism for local operations (transferring the liability to pay VAT from suppliers to clients)*.
The Council of the European Union adopted, on the 24th of September 2018, the prolongation of the period for the application of the optional reverse charge mechanism for supplies of goods and services susceptible to fraud. The same document approved the Quick Reaction Mechanism against VAT fraud. These two measures will be active until June 30, 2022*, until the envisaged entry into force of the definitive VAT regime.
According to a report recently issued by the European Commission, uncollected VAT represents EUR 6.13 billion loss for Romania´s 2016 budget. At EU level, uncollected VAT amounted to EUR 147.1 billion, which represents a 12.3% VAT gap.
The whole media and entertainment market in Romania will register a compound annual growth rate (CAGR) of 7.4% reaching total revenues of USD 3.7 billion by 2022. Out of this, approximately half is represented by spendings for internet access who will register a CAGR of 11.6% and will report revenues of over USD 1.8 billion, by the same target year.
The new research from PwC – Blockchain is here. What’s your next move? – surveyed 600 executives in 15 countries and territories, on their development of blockchain and views on its potential. As blockchain rewires business and commerce, the research provides one of the clearest signals yet of organisations’ fear of being left behind as blockchain developments accelerate globally opening up opportunities including reduced cost, greater speed and more transparency and traceability.
PwC Romania together with its correspondent law firm D&B David si Baias have obtained authorisation of the Data Protection Officer (DPO) training course issued by the Labor and Social Justice Ministry and the National Education Ministry. With this certification, PwC Romania becomes authorised entity able to hold certification courses and issue diplomas recognised at national level for the Data Protection Officer position.
In its 21 st annual survey of CEOs from around the world PwC found that technology does not top the agenda for real estate CEOs either as a threat or an opportunity. Only 17% of real estate CEOs cite cyber threats as a danger to their growth prospects, compared with 40% of all CEOs who took part in the survey. While even fewer, only 10% of real estate CEOs, view the speed of technological change as a threat to their organisations compared with 38% of all CEOs.
According to PwC’s Global Entertainment & Media Outlook 2018-2022 (Outlook), the ongoing rapid evolution of the industry has entered a dynamic new phase. Amid growth that is broad-based and consistent – but unevenly distributed – three imperatives are affecting every company in the industry: convergence, connecting with consumers and the need to build trust. “Convergence 3.0” is redefining the competitive playing field. As this wave of change plays out, the borders that once separated the entertainment and media, technology and telecom industries are dissolving. Large Internet access providers and delivery platforms are integrating vertically, and online giants are expanding horizontally into content. Traditional segment distinctions are blurring – between print and digital, video games and sports, wireless and fixed access, cable and online, social and traditional media.
London, 28 June 2018 – The market capitalisation of the 100 largest companies globally has increased significantly by $2,597bn or 15% compared to 31 March 2017, according to PwC’s Global Top 100 ranking, released today. This rise comes on top of a 12% increase in 2017, and the total capitalisation continues to grow, year on year, since the global financial crisis.
PwC Romania announces the increase of the Partner team, with the promotion of three new Partners as of 1 July in the audit, tax and legal services departments.
Extending people’s working lives to reflect the ageing of their populations could release massive untapped value for their economies to the tune of US$3.5 trillion across the OECD as a whole in the long run.
Starting 1 July 2018, Luca Martini will become the new Advisory Leader of PwC in Romania and South Eastern Europe. He will replace Edward Macnamara, who has been leading the team for the past two years and will now focus on global business recovery services projects on a global level within PwC.
The European IPO market has seen a strong start to 2018, with €12.5 bn raised in the first three months of the year, more than double the €4.6bn raised in Q1 2017. This was largely due to the mega-IPOs of Siemens Healthineers and Deutsche Bank’s DWS Group, which raised €3.7bn and €1.3bn respectively, boosting European IPO values towards the end of the quarter.
Potrivit editiei de anul acesta a raportului PwC Global Economic Crime and Fraud Survey, 42% dintre organizatiile din Romania au raportat ca au fost victimele criminalitatii economice in ultimii doi ani, un nivel usor mai mic decat cel raportat la nivel global (49%), sau regional (47%). Cu toate acestea, nu toate companiile sunt pe deplin constiente de riscurile de frauda cu care se confrunta, sau de consecintele acestora, cum ar fi impactul financiar, prejudicierea reputatiei si raspunderea penala, individuala sau la nivel de companie.
According to this year’s edition of PwC’ Global Economic Crime and Fraud Survey, 42% of Romanian organisations reported to have been the victims of fraud or economic crime in the past two years, slightly lower than the global (49%) and Eastern European (47%) reported rates. However, not all companies are fully aware of the fraud risks they face and related consequences such as financial impact, reputational damages or personal and company liability.
Companies listed on the Bucharest Stock Exchange (BSE) operating in the oil and gas and materials sectors were the most resilient to the fluctuations of the economic cycles between 2007 and 2017, and have conserved best the value of the investments, according to a PwC Romania analysis. The most sensitive to the economic cycles, over the past 10 years, were the companies in the consumer, healthcare and financial services sectors. The survey titled Valuation multiples in the context of Bucharest Stock Exchange and local M&A market was developed by the Valuation and Economic Analysis team within PwC Romania and uses financial data and classification of the companies based on the S&P Capital IQ information.
PwC Central and Eastern Europe, the professional services firm, has announced the election of Nick Kós as its new CEO for a four year term, with effect from 1 July 2018. Nick Kós is currently the Country Managing Partner of PwC Hungary and has held several leadership roles in the region.
Despite being late in its cycle, the global real estate market is benefiting from strong returns for investors and a positive global economic outlook, according to Emerging Trends in Real Estate ® – The Global Outlook for 2018, an annual forecast of global real estate investor sentiment published jointly by PwC and the Urban Land Institute (ULI). The report notes that in this highly competitive, late-cycle property market, the real estate industry must embrace technology, new business models, and the concept of “space as a service”.
PwC Romania launches the junior recruitment campaign (students, fresh graduates and professionals with 1-2 years of experience) for the Bucharest, Cluj-Napoca, Timișoara, Iași and Chișinău offices. The approximately 150 new colleagues will join, as of autumn, our audit and tax departments. The recruitment process is comprised of simple steps that come to meet the flexible communication style of the young generation. It all starts on pwc.com/beagamechanger where candidates will choose their appropriate level of competencies and follow the steps described on the platform.
PwC Business Recovery Services (BRS), the restructuring and insolvency division of PwC Romania, auctions with an open public tender, Dutch style, an allotment totaling 89,502 square meters on the Colentina Boulevard, in Bucharest. The land is owned by Bel Rom Nouă SRL - company under bankruptcy procedure.
In today’s data-driven society, privacy, security and trust are more vital and intertwined than ever before. But many organisations are not doing all they can to protect data privacy, according to new findings released from PwC PwC’s 2018 Global State of Information Security® Survey (GSISS).
Romanian CEOs are very confident about the growth perspectives of the global economy in 2018. Nearly half of the executives interviewed say that the global economy growth will accelerate. The situation is slightly similar in Central and Eastern Europe, 45% of the regional executives say that the global economy is going to have a positive development this year. This is one of the key findings of the eight edition of the CEO Survey for Romania and Central and Eastern Europe.
To mark International Women’s Day (IWD) on Thursday, 8 March 2018, PwC surveyed over 3,600 professional women (aged 28-40) to find out about their career development experiences and aspirations. The survey included respondents from employers across 27 industry sectors an from over 60 countries worldwide.
The automotive market will face radical change in 2030, according to “The five dimensions of automotive transformation” study developed by PwC. As a result of novel sharing concepts, the stock of cars could fall from 280 to 200 million in Europe and 270 to 212 million in the United States. China, in contrast, is expected to see its vehicle inventory rise to 280 million vehicles in 2030, up from 180 million today.
Bucharest, 30th of January 2018 – A record-breaking share of CEOs are optimistic about the economic environment worldwide, at least in the short term. That’s one of the key findings of PwC’s 21 st survey of almost 1,300 CEOs around the world, launched today at the World Economic Forum Annual Meeting in Davos.
Improving economic conditions and increasing pressure from NATO allies will likely enhance the prospects for more NATO nations to meet the 2% guideline in the next five years.
The global economy is set to grow by almost 4% in 2018 in purchasing power parity (PPP) terms, adding an extra $5 trillion to global output at current values, according to new projections in PwC’s Global Economy Watch.
PwC România anunţă extinderea ariei de servicii de consultanță de management prin crearea unei echipe dedicate serviciilor de consultanță în zona tehnologiei SAP, echipă ce va livra proiecte atât pe plan local cât și pentru clienții din Europa de Vest. Radu Bădiceanu, consultant de tehnologie cu peste 10 ani de experiență în implementarea sistemelor SAP, recrutat ca lider al acestei echipe PwC.
PwC Romania announces the opening of a Chinese desk dedicated to serving Chinese companies and individual clients and has recruited Wang Di as Chinese Business Group Leader for the entire South-Eastern Europe.
PwC Romania strengthens its business recovery services (BRS) team with the recruitment of Cristian Gavril, who has joined as a Director. “With Cristian Gavril joining our practice, I am confident that PwC has one of the best and most seasoned insolvency and restructuring practices in Romania. Over the past year we have grown rapidly, winning a number of new insolvency and restructuring mandates. We are further investing in this area to support our strong pipeline of work and ensure we are best placed to meet our ongoing clients’ needs”, stated Edward Macnamara, Advisory Leader, PwC Romania.
The global market in drone-powered solutions for the power and utilities industries is worth as much as USD 9.46 billion a year, PwC estimates in a new report that illustrates how creative uses of unmanned aerial vehicles are disrupting the way companies build, operate and maintain their networks.
Salariile din mediul privat au crescut în medie cu 5,1% în acest an, arată datele ediţiei din acest an a studiului salarial şi de beneficii PayWell România, realizat de PwC România, pe un eșantion de aproximativ 100 de companii private, din sectoarele financiar-bancar, farmaceutic, industrial, retail și hotelier. Pe categorii de angajaţi, cea mai mică majorare a fost consemnată la nivelul top managementului, iar cea mai mare la nivelul personalului necalificat.
A bumper year for tourism in Malta drove the industry’s contribution to the equivalent of 13% of total GDP, compared to 5% in Spain and 2% in Italy, while tourism’s share of global economic output rose to more than 3% last year. The new analysis from PwC’s Global Economy Watch underlines the industry’s importance to peripheral economies in the Eurozone, including Malta and Cyprus.
Almost three quarters (74%) of people surveyed by PwC are ready to learn a new skill or completely retrain to keep themselves employable, seeing it as their personal responsibility and not employers, to keep their skills updated.
Central and Eastern European countries account for 28% of the EU’s territory and 22% of its population, but only 10% of its GDP. One of the main challenges that the region faces today is the financing of transport infrastructure development. More than 80 billion Euro has been invested in transport infrastructure in the CEE from EU Structural Funds in the 2007-2013 financial exercise.
Global GDP will be 14% higher in 2030 as a result of AI – the equivalent of an additional $15.7 trillion. This makes it the biggest commercial opportunity in today’s fast changing economy according to new research by PwC.
Extending working lives could increase OECD GDP by $2 trillion, says PwC
Investments in security efforts are driven more by regulatory requirements and not by the actual awareness of the ongoing IT security threats, shows a joint PwC Romania and Microsoft survey
Encouraging voluntary tax compliance of the tax payers could be one of the solutions to increase budget revenues for Romania. This is one of the conclusions of the PwC conference – “The change of the taxation paradigm in Romania”, that took place in Bucharest today. The new proposal to change the taxation system for individuals and the introduction of the household taxation was also broadly discussed.
Economic activity in advanced economies is encouraging, but productivity is lagging
Consumers ready to embrace AI and robots for their healthcare needs, shows a PwC survey
Half of the business executives want that the internal audit function play a more important role in the organizations, says PwC
Manuela Ciugudean-Toma joined PwC and will coordinate the marketing teams in 11 countries in South-Eastern Europe. She will be responsible for developing an integrated PwC marketing and communication strategy throughout the Balkans.
PwC Romania has kickstarted the recruitment campaign for junior consultants and interns for the audit and tax consulting departments. At the completion of the process, which will take place between March and May 2017, at least 120 fresh graduates and MA students will be hired in the firm.
The local mergers and acquisitions market increased by 17% in 2016 compared to the previous year, reaching a deal value of 3.6 billion Euro, according to a PwC Romania analysis
PwC report analyses the size of the prize in taking an integrated approach to the oceans
The average salary increases budgeted in the private companies for 2017 are higher than those initially estimated, according to the data of the PwC study HR Barometer (which is an update of the information included in the yearly HR surveys undertook by PwC – PayWell and Saratoga).
Since the beginning of this year, Livia Stan, former General Director in the Ministry of Public Finance and Secretary General in the Ministry of Health, has joined the PwC Romania team.
While CEOs around the world feel they have plenty to worry about in the year ahead, their confidence in their own growth prospects and their outlook for the global economy are back on the rise.
US will drive growth in the G7, Core Eurozone employment to hit all - time high, but periphery will create more jobs, Indonesia set to become world’s 16th trillion dollar economy, Population growth to put pressure on Gulf countries to reform public finances
“The young generation is hyper-connected and mobile, engaged in so many projects, and by launching this innovate online application we are trying to meet their need for simplification of the recruitment process. Also, we are trying to promote a gamified approach for the whole selection process and to undertake as many of the recruitment steps online, including the hiring interviews”, stated Ionuţ Simion, Country Managing Partner, PwC Romania.
Marketing and Communication Leader, Romania