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The shareholders of Romanian state-owned airline Tarom, including the Ministry of Transport, have voted to double the monthly gross compensation for members of the company’s Board of Directors, Hotnews.ro reported on July 7. Transport minister Ciprian Şerban (Social Democratic Party, PSD) implied that he was not aware and said that he “would use all his…

Romania’s prime minister Ilie Bolojan, speaking in front of the Parliament on July 7 to assume responsibility for the first package of fiscal measures, outlined again the measures that will be included in the second package, which mainly targets public administration and state-owned companies. This second package of measures is underway and is expected to…

The government of Romania assumed responsibility for the fiscal corrective package on Monday, July 7, requiring the Parliament to endorse the bill without a vote and accepting in exchange to face a no-confidence motion.  The largest opposition party, the Alliance for the Union of Romanians (AUR), announced plans to file such a motion, which must…

Romania’s largest steelmaker, Liberty Galați, is on the brink of insolvency after the National Agency for Fiscal Administration (ANAF) voted against a proposed restructuring plan, according to Remus Borza, president of Euro Insol, the court-appointed receiver, quoted by Ziarul Financiar. Speaking on July 7, Borza warned that “the consequence of this vote will be bankruptcy,”…

Electrica, the Romanian state-majority-owned energy group, has successfully raised EUR 500 million through its first-ever green bond issuance, marking the largest corporate green bond placement in Romania outside the financial sector. The announcement was made on July 7, following the bond’s listing notification on the Bucharest Stock Exchange. The five-year bonds carry a coupon of…

The consumer price inflation will rise to 7.5%-8.0% y/y in the coming months to stabilise around 7.5% by the end of the year, but high base factors will bring it down in the region of 4.0-4.5% y/y by the end of 2026, according to the projections expressed by ING Romania economist Stefan Posea, as quoted…

Romania’s retail sales posted a 2.5% y/y advance in May, resulting in an average 1.4% y/y advance in April-May – a period that filters out the different Eastern holiday periods in 2024 and 2025. The retail sales thus decelerated after posting 3.5% y/y growth in Q1 and an impressive 8.6% advance in 2024 when the…

The three bear cubs left orphaned after their mother was shot and killed following the deadly attack on the Transfăgărășan mountain road last week are to be taken in by a wildlife rehabilitation center in Zărnești, Romania’s Environment Ministry announced.  The female bear attacked and killed a motorcyclist on the Transfăgărășan last Thursday after the man had…

Investors in Romania are interested in technology companies, cryptocurrency assets, US Treasuries and niche sectors, complemented by ETFs with a focus on diversification, technology and high-yield bonds, according to an analysis by the trading platform Freedom24. Top picks included NVIDIA, a global leader in GPUs, Taiwan Semiconductor, the world’s largest chip manufacturer, and Microsoft. Tesla…

For the fourth consecutive year, the Embassy of Romania in Washington, DC, organizes a series of events dedicated to the anniversary of the Strategic Partnership between Romania and the United States of America between July 7–13. Launched on July 11, 1997, on the occasion of US president Bill Clinton’s visit to Bucharest, the Strategic Partnership…