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Targeting high-income buyers, in recent years the area has become the driving force behind Bucharest’s residential growth. Over the past decade, the Fabrica de Glucoză–Lacul Tei corridor has transformed from open fields into a dynamic residential hub, catering especially to high-income buyers. The area has become the main growth engine of the northern Bucharest residential…

Dorinel Umbrărescu, who owns the most powerful Romanian construction group, is interested in buying the steel plant Liberty Galați, owned by Sanjeev Gupta, according to sources familiar with the negotiations consulted by Economedia.ro.  The information was confirmed by the court-appointed manager at Liberty Steel, Remus Borza, who stated that discussions are currently taking place, mainly…

A group of retail investors, along with three funds from Slovenia, imposed their position at the September 29 shareholder meeting of Fondul Proprietatea (FP), dismissing the head of the Board of Nominees and deciding to resume from scratch the procedures for selecting a new fund manager, scrapping the past procedures that resulted in the selection…

Electroalfa, one of the main players in the electrical equipment and metal fabrication industry, general contractor and integrator of energy solutions, is preparing to list its shares on the Bucharest Stock Exchange (BVB), according to Economedia.ro. Electroalfa reported revenues of almost RON 800 million (EUR 160 million) and a net profit of RON 60 million…

Tax revenues in Romania increased by 11.0% y/y to RON 212.3 billion in January-August and accounted for 11.2% of the year’s planned GDP, up from 10.9% in the same period last year, driven by a 16.4% y/y advance in August to RON 26.7 billion after the first package of budgetary measures was implemented. In January-July, the…

Romanian authorities said on Monday, September 29, that mercenary leader Horațiu Potra and his son have been arrested in Dubai and will face extradition proceedings to Romania, after being on the run for months under an international arrest warrant.  The Ministry of Justice in Bucharest confirmed that officials in the United Arab Emirates had taken…

Romania won the gold medal in the first mixed 8+1 rowing event on Sunday, September 28, on the last day of the World Rowing Championships in Shanghai, China.  The crew made up of Magdalena Rusu, Maria Lehaci, Andrada Moroșanu, Florin Lehaci, Florin Arteni, Ciprian Tudosă, Ștefan Berariu, Simona Radiș, and Victoria Petreanu had the best…

The Reșița funicular system will be reconverted through a New European Bauhaus project and turned into a space for pedestrians and cyclists, with cultural, touristic, and urban mobility purposes. The cable railway system has been inactive for 30 years.  Built at the beginning of the 1960s to transport limestone, the funicular will now be transformed…

Bucharest hosts the ninth edition of Spotlight – International Light Art Festival, Romania’s largest urban light festival, between October 10 and 12, with over 20 installations from the country and across Europe. Themed “Symbiosis,” this year’s festival is curated by scenographer Adrian Damian, known for his multimedia stage designs and integration of new media art.…

Romania’s blind football team, representing the municipality of Bucharest, won first place at the Central European Cities Cup, held in Prague from September 26 to 28.  The national team won the trophy for the first time. To get first place, Romania defeated the teams from Lodz (Poland) 4–0, Ingolstadt (Germany) 6–0, and BSC Prague (Czechia)…