Category: Uncategorized

Romanian defense minister Ionuț Moșteanu announced on Wednesday, July 16, that the government is planning to expand the voluntary military service. The measure is being taken given that the current reservists have aged.  During an interview, the minister explained that according to the draft law currently under interministerial review, individuals who wish to take an active…

Romania’s Social Democratic Party (PSD) is pushing for stricter tax regulations targeting multinational companies and a new turnover tax as part of ongoing fiscal reform negotiations within the ruling coalition. Interim party president Sorin Grindeanu warned that the PSD could exit the coalition if its key proposals are not accepted, although he described the alliance…

Amazon Development Center, the Romanian branch of US tech giant Amazon, is preparing to lay off over 500 employees from its Iași-based retail business services division, Romanian media reported on July 16, citing internal company sources. The Iași centre, established in 2005, handles both IT research and development and business services across several domains, including…

The Investment and Development Bank (Banca de Investiții și Dezvoltare – IDB), a development bank founded by the Romanian government in 2023, will manage the Regional Participation Fund for financing SMEs worth EUR 233.35 million, according to Cursdeguvernare.ro.  The Fund is formed by allocation disbursed by the North-East, South-East, and Bucharest-Ilfov Managing Authorities from the…

Private equity fund ROCA Investments announced the sale of its entire 20% stake in Artesana dairy to Booster Capital, another investment fund, five years after the initial investment.  The dairy producer reported a 4-fold increase in production capacity over the five years, and it tripled its turnover over the period to EUR 11 million in…

Romania’s fiscal consolidation plan will help government achieve its deficit targets of 7.5% this year and 6.4% in 2026 from the record 8.7% of GDP in 2024 (cash terms) and will moderate the current account (CA) deficit from 8.3% of GDP in 2024 to 7.5-8.0% in 2025 and 6.5-7.0% in 2026 – at the cost…

Pavăl Holding, the investment vehicle of Romania’s Pavăl family and owner of leading home improvement retailer Dedeman, has acquired Praktiker Hellas, the top DIY chain in Greece. The deal, estimated at EUR 120-130 million according to Profit.ro, marks Dedeman’s first step beyond Romania’s borders. With 17 physical stores, a robust online platform, and a portfolio…

The season of festivals is in full swing as one of summer’s largest music events takes place this weekend near Cluj, while Bucharest residents can attend the many activities scheduled as part of the Open Streets program. In Bucharest: Majestic Summer Concert Gala July 20 This concert of the Schoenbrunn Palace Orchestra Vienna, held at…

In a decisive step toward digital inclusion and in alignment with the European Accessibility Act, ASSIST Software and Ștefan cel Mare University of Suceava (USV) have officially launched A(I)BILITIES, a groundbreaking AI project designed to create adaptive, personalized user experiences for people with disabilities. The initiative is powered by generative AI technologies and aims to…

Diana Buzoianu, Romania’s new environment minister, announced on Wednesday, July 16, that “Rabla,” the government-sponsored scrappage scheme aiming to replace older, polluting cars with newer models, will be resumed with a RON 200 million budget.  The minister made the announcement on her Facebook page, highlighting the budgetary difficulties facing the Romanian executive at the moment. …