Category: Uncategorized

Romanian startups will no longer be subject to the government’s proposed requirement to automatically convert shareholder or investor loans into equity, following a last-minute amendment, Ziarul Financiar reported. The measure, part of a broader fiscal package, had sparked strong opposition from the technology sector, which warned it could destabilise early-stage financing. The exemption ensures that…

The Romanian steel plant ArcelorMittal Hunedoara will suspend production from September 5, amid high electricity prices and competitive pressure from imports.  The company anticipates extending the current technical unemployment measures beyond September 30 for an indefinite period, according to a company report submitted to the Bucharest Stock Exchange (BVB) on September 2, as reported by…

Defending the tougher-than-initially-planned measures in the second reform package, Romanian prime minister Ilie Bolojan explained that a budget deficit of nearly 10% can not be addressed with soft measures and estimated that the gap will remain above 8% of GDP this year.  The statement marks a marginal worsening from his previous statements in August, when…

Bucharest’s subway operator Metrorex signed an agreement on Tuesday, September 2, to extend Line 2 with two new stations from Pipera to Petricani, in a project aimed at easing congestion in the city’s fast-growing north. The 1.6 km extension will run along Dimitrie Pompeiu Boulevard and Petricani Street, ending at the intersection with Pipera Boulevard. …

The young Romanian man who attacked a food delivery worker from Bangladesh in Bucharest last week is now facing an additional investigation for sharing fascist and racist imagery online, prosecutors announced on Tuesday, September 2, as reported by Agerpres.  According to the Prosecutor’s Office attached to the Bucharest District 2 Court, the suspect, who is…

Cinema under the Moonlight, a program of open-air film screenings with free admission, is set to run on the terrace of Promenada Mall in Bucharest between September 11 and October 16. The screenings are organized in partnership with Transilvania International Film Festival (TIFF), the largest film event in the country. The program includes classics of…

Veterinary services company PartnerVet Group announced it received a financing round from the investment fund Accession Capital Partners (ACP) Credit, part of ACP Group, to accelerate the expansion of the business at a national level. PartnerVet currently operates two hospitals and 14 veterinary clinics in seven major cities in the country, supported by a team…

The Avram Iancu International Airport in Cluj-Napoca said it will become the first airport in Romania to lift restrictions on the volume of liquids, aerosols, and gels that passengers can carry in their hand luggage.  Starting September 3, the long-standing rule limiting containers to 100 milliliters will be eliminated, the airport announced. Passengers will be…

Romanian long-distance swimmer Avram Iancu announced that he has been officially recognized as the first person in the world to complete the “Triple Crown of Rivers Stage Swims Challenge,” after covering more than 4,400 kilometers across Europe’s major waterways without a wetsuit. The World Open Water Swimming Federation (WOWSA) ratified the achievement this week, confirming…

Private equity firms Bain Capital and Cinven announced that they signed a definitive agreement to sell a majority stake in Stada Arzneimittel AG to CapVest Partners LLP. Bain Capital and Cinven acquired Stada in 2017. During their ownership, Cinven and Bain Capital supported Stada to execute more than 25 targeted acquisitions, expanding its footprint across Europe…