Category: Uncategorized

Romanian prime minister Ilie Bolojan and deputy PM Dragos Anastatsiu, as head of the working group, announced in a press conference on July 22 the plans for streamlining the corporate governance in state owned enterprises (SOE) – one of the two packages of reforms (besides the local administration reforms) expected to be delivered in an…

Romania’s Constitutional Court ruled on July 22 that the law on certain fiscal-budgetary measures, part of the government’s fiscal consolidation package, is constitutional. The decision was unanimous and dismissed the objections filed by opposition deputies from the Alliance for the Unity of Romanians (AUR), SOS Romania, the Young People’s Party (POT), and several unaffiliated members…

Rezolv Energy, backed by global investor Actis, has secured up to EUR 331 million in additional project finance facilities to complete the second phase of its VIFOR wind farm in Buzău County, Romania, the company announced on July 22. The new funding will support the construction of an additional 269 MW, bringing the project to…

OMV Petrom (BVB: SNP) and Romgaz (BVB: SNG) have commenced infrastructure investments worth EUR 750 million for the Neptun Deep offshore natural gas project in the Black Sea, following the issuance of an establishment authorisation by Romania’s National Energy Regulatory Authority (ANRE), the regulator announced on July 21. The total value of the authorised works amounts…

OMV Petrom (BVB: SNP), the largest energy producer in Southeastern Europe, and NewMed Energy Balkan, a subsidiary of NewMed Energy, announced the signing of a rig contract for the drilling of two offshore exploration wells in the Black Sea, offshore Bulgaria.  This milestone marks a significant step forward in the two companies’ strategic efforts to…

German aerospace and defence supplier Diehl Aviation has partnered with Romanian real estate developer Global Vision to construct a new production facility in Almaj, Dolj County, north of Craiova, Profit.ro reported. The factory is expected to create over 500 jobs and strengthen Romania’s position in the European defence and aeronautics industry. The new facility will…

Romania’s state-owned enterprises (SOEs) generated revenues of RON 127 billion (EUR 26 billion, no reference year indicated), but continue to receive state subsidies larger than their aggregated profits, deputy prime minister Dragoș Anastasiu said during a press conference on July 22. The figures were released as part of the government’s broader reform plan to overhaul…

Romania’s deputy prime minister Dragoș Anastasiu presented detailed provisions of the government’s forthcoming corporate governance reform for state-owned enterprises (SOEs) in a statement on July 22, outlining measures aimed at restructuring management boards, capping remuneration, and improving accountability. Anastasiu confirmed that the reforms will apply to both company executives and non-executive board members, and are…

Romania launched a major tourism promotion campaign in Doha, the capital of Qatar, this week. Organized by the Ministry of Economy, Digitalization, Entrepreneurship and Tourism (MEDAT), the campaign runs from July 21 to 27 and showcases Romania on some of the most visible digital billboards in the city. The initiative features promotional video clips about…

Romanian president Nicușor Dan has raised alarm over the growing nostalgia for communism revealed in a recent national survey. The study, conducted by INSCOP in collaboration with the Institute for the Investigation of Communist Crimes (IICMER), found that a majority of Romanians now view former dictator Nicolae Ceaușescu as a good leader. According to the…