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Romania’s Ministry of Energy informed on Monday, August 4, that it has authorised OMV Petrom to temporarily use 80,000 tonnes of crude oil and 30,000 tonnes of diesel out of its reserves to offset the effects of refusing two ships carrying a total of 180,000 tonnes of contaminated Azeri crude oil. Minister Bogdan Ivan declared…

In a first move of this kind on the Romanian capital market, the five investment funds resulted from the mass privatisation scheme in the 90’s – Lion Capital, Evergent Investments, Transilvania Investments, Longshield Investment Group, and Infinity Capital (directly or through subsidiaries) – jointly financed, in full, the EUR 100 million bond issue of real…

By July 23, the Treasury had borrowed RON 28.93 billion (EUR 5.6 billion) from households this year, a share of 16.7% in the total public financing undertaken by the government to cover the record financing needs, according to data published by the Ministry of Finance and compiled by Cursdeguvernare.ro.  The Treasury issues government bonds under…

Industrial price inflation in Romania turned negative -0.3% y/y in June, dragged down by the prices of energy that have constantly dropped from February to reach a negative -7.5% y/y annual contraction in June, according to data published by the statistics office INS.  The industrial prices were largely shaped over the past years by the…

One United Properties (BVB: ONE), the leading green developer of residential, mixed-use, and office real estate in Romania, announces the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu, marking the Company’s strategic entry into one of Romania’s most dynamic regional cities. “Sibiu is one of…

The restructuring plan laid out by Liberty Galați was validated by the Galați Court on Friday, August 1, after having been approved by 52% of the ailing plant’s creditors last month.  The plan, approved by creditors and confirmed by the Galați Court, sets out firm measures to restructure both the company’s operational activity and the…

Animest, Romania’s leading animation film festival, returns to Bucharest this autumn with a special 20th anniversary edition. Running from October 3 to 12, the festival invites audiences to explore the theme of “the journey” – a metaphor for both its two-decade history and the personal, emotional paths traced through animated storytelling, the organizers said. Last…

An article delving into the benefits of hydrotherapy, published by the famous US newspaper The New York Times, features a recommendation for six wellness centers, including Romania’s Therme center.  According to the article, “studies show that immersion in water, hot or cold, can calm the nervous system, reduce joint pain and inflammation, stimulate circulation, lower…

Plastic surgeon Tiberiu Paul Neagu, head of the Burns Center at Floreasca Hospital, one of the major hospitals in Bucharest, was dismissed on Monday, August 4, after a patient was transferred to Belgium following multiple multi-resistant hospital-acquired infections. The scandal broke out when a patient with burns over 70% of her body, who had been…

One United Properties (BVB: ONE), a publicly listed developer that has so far been focused on Bucharest, announced the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu. The site, located on the former FLARO industrial platform, offers significant potential for urban regeneration, according to company…