Category: Uncategorized

Fitch Ratings on December 4 affirmed the long-term Issuer Default Rating (IDR) for Romania’s largest lender, Banca Transilvania (BVB: TlV), at BBB- with a negative outlook, in line with the country’s sovereign rating.  The price of the bank’s shares rose 1.2% on the day the rating agency announced its decision, bringing the bank’s market capitalisation…

The Romanian authorities will only supervise the operations at Lukoil’s Petrotel refinery and not be involved in its management until a new owner is found, according to an emergency ordinance approved by the government in Bucharest this week, as reported by Hotnews.ro. Russian group Lukoil is seeking buyers for its international assets, after it came…

The ‘5 to go’ coffee shop chain announced the signing of a partnership with the national gas station network RO concept OSCAR, owned by businessman Alin Niculae, according to Economica.net.  The gas station network has reached 120 strategically distributed stations nationwide, of which more than 90 are franchised under the RO concept OSCAR brand, for…

Graffiti Plus (GRF+), active in Romania’s communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut…

The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by…

The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate Governance Code, updated jointly by BVB…

Daniel Băluţă, the mayor of Bucharest’s District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations.  The extension will have 14…

Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders…

Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași…

Producer Ada Solomon has been elected chair of the board of the European Film Academy, marking the highest level of representation the Romanian film industry has achieved within the institution. Solomon was chosen by more than 5,400 Academy members across Europe, according to the official announcement.  Dutch producer Leontine Petit and French producer Matthieu Darras…