Category: Uncategorized

Survey record decline in new orders Input stocks down at sharper rate amid strong drop in buying Softest cost pressures for over a year signalled Romania’s manufacturing sector ended 2024 on a weak footing, having faced the most challenging business conditions on record (since July 2023). At the centre was weakness in the sales environment,…

Energy group Premier Energy (BVB: PE) announced that its subsidiary, Alive Renewable Holding Limited, has completed the acquisition of a 90% stake in Development Power Solar Energy, a company that holds the rights to build a 49 MW DC solar park, together with a 16 MWh energy storage facility in Buzău County, Romania. The company…

Romania and Moldova have asked the European Commission (EC) for a temporary derogation from the CO2 certificate requirements for the production of electricity in Romania that goes to the Republic of Moldova, where there is a state of emergency in the energy system, said the Romanian minister of energy Sebastian Burduja, as reported by Economedia.ro.…

Austria’s OMV has reportedly struck a deal to supply Germany’s Uniper with gas from the Neptun Deep Black Sea project, where it holds a 50% stake and which it operates through its Romanian subsidiary OMV Petrom, according to sources familiar with the matter consulted by Reuters. The deliveries would begin in 2027. The contract reportedly…

Romania’s Defence Ministry spent some 2.26% of GDP compared to a budget initially envisaged at 2.28% of GDP in 2024, minister Angel Tilvar announced, adding that this allowed the Army to pursue its goals at the pace it desired, G4media.ro reported. “It is also important how this money was spent. [It] was spent not only…

Former independent presidential candidate Calin Georgescu announced that he would approach the Constitutional Court (CCR) on January 10 with a request to unblock the second round of the presidential elections, and invited his supporters to collect lists of signatures in support of the request.  Former CCR member Tudorel Toader argued that there is no procedure…

Romania’s finance minister, Tanczos Barna, said that a first draft of the budget planning for 2025 would be ready by January 27, and he also assured that it is possible to avoid hiking the VAT rate or the income tax rate, Hotnews.ro reported. Romania’s public deficit reportedly reached 8.7% of GDP in 2024 and must…

The European Court of Human Rights ruled on Tuesday, January 7, that the Romanian state must return 17,000 hectares of land to the Borșa Landowners’ Association within 12 months of the decision becoming final.  The claimants in the case are 53 Romanian citizens whose land was confiscated by the communist regime. The Court found a…

Dacia Sandero will most likely be the best-selling car in Europe in 2024, according to preliminary data covering 97% of sales in the EU, European Free Trade Association countries, and United Kingdom. Looking at the provisional rankings, the Sandero leads the Top 10 with 247,210 units sold in the first 11 months of 2024, followed…

Romania aims to add 2,500 MW of new capacity to its energy system by 2025, through investments in new energy-producing facilities and other projects co-financed with European funds.  The government is eyeing facilities at Iernut, Mintia, Răstoliţa, and Năvodari for investment. “Energy is the heart of the economy. Without reliable and cheap energy, there is…