Category: Uncategorized

The construction works volume in Romania decreased by 0.5% y/y in gross terms and by 2.8% in workday and seasonal adjusted terms in April, after it boasted a robust 10.6% y/y advance in Q1 (largely on low base effects), according to data published by the statistics office. By type of construction, engineering works—representing approximately 45%…

Romania’s economic sentiment rebounded sharply in May following the presidential election victory of pro-Western candidate Nicușor Dan, according to data published by the CFA Romania Society on June 19. The recovery comes after a significant decline in April amid fears of a potential win by isolationist candidate George Simion. After the recovery in May, the…

Salt Bank has appointed Vikram Tikoo as its new Chief Technology Officer, marking a significant step forward in the company’s pursuit of its digital banking vision. The appointment will take effect once approved by the National Bank of Romania. Vikram has extensive international experience delivering technology solutions on a global scale. He will help enhance…

Romania’s average net wage, which has posted annual growth rates for nearly two years, advanced by only 3.5% y/y in CFI deflated terms – the lowest growth rate since April 2023, according to data published by the statistics office INS. In nominal terms, the annual advance was 9.9% – the second-lowest growth rate since 2021. …

OMV Petrom (BVB: SNP) has signed a new purchase contract for pre-treated used cooking oil with Astra Bioplant of Bulgaria, a company part of the Bulmarket group owned by Bulgarian businessman Stanko Stankov, SNP announced in a note to investors.  In June 2024, OMV Petrom signed a similar contract with Romanian edible oil producer Expur.…

Romania’s underground economy reached 13.1% of GDP in 2023, the highest level among European Union member states, Ziarul Financiar reported on June 20, citing data from consultancy firm EY. Despite this leading position within the EU, the figure marks a significant improvement compared to previous decades. In 2000, Romania’s underground economy accounted for 31.3% of…

Homedit, a Romanian brand of premium furniture and home décor, announces the official opening of its first showroom, located in an interwar house in central Bucharest (“The Bamboo House”, located at No.3, Dumbrava Roșie St.).  With a total investment of approximately EUR 12 million, the business was founded in 2016 as an online store by…

The 32nd edition of the Sibiu International Theatre Festival (FITS) begins on Friday, June 20, bringing over 5,000 artists from 82 countries to the city. The events will take place over ten days and will transform the city into an “open-air stage, with large-scale productions, impressive installations, parades, fire shows, live music, aerial dances, and…

The well-known science and nature channel Discovery is currently marking four decades since its global launch in 1985 with a special series titled “Discovery Changed My Life,” bringing testimonies from personalities whose vision was shaped by Discovery. Among those featured is also Romanian mountaineer and conservationist Alex Găvan.  The series premieres on Sunday, June 22,…

Romania benefits from a series of favorable factors that facilitate the growth and expansion of data center capacity and could emerge as a developing market, according to an analysis conducted by the real estate consultancy company Cushman & Wakefield Echinox.  A diversified energy mix, with over 50% of energy production coming from renewable sources, along…