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Romanian prime minister Marcel Ciolacu announced Thursday, December 19, that the Social Democratic Party (PSD) is withdrawing from discussions to form a new government but will support a right-wing cabinet in Parliament. In a statement posted on Facebook, he criticized the behavior of coalition partners, without naming a specific party, accusing them of inconsistency and…

Nuclearelectrica, Romania’s state-owned nuclear power operator, and an international consortium comprising Candu Energy Inc., an AtkinsRéalis company, Ansaldo Nucleare, Canadian Commercial Corporation, and Korea Hydro & Nuclear Power Co., have signed an Engineering, Procurement, and Construction (EPC) contract for the advancement of Cernavodă nuclear power plant’s Unit 1 refurbishment. The contract’s estimated value is EUR…

The weekend before Christmas brings season-themed concerts, film screenings, and the option to buy presents from the numerous fairs and markets. In Bucharest: Christus Natus Est December 21 St Joseph Cathedral hosts this carol concert where ten choir groups are set to perform. More details here. The Nutcracker December 19, 20 Two performances of Tchaikovsky’s…

Databricks, a US-based software company co-founded by Romanian entrepreneurs Ion Stoica and Matei Zaharia, has reached a USD 62 billion valuation after securing new funding worth USD 10 billion. The company, ranked among the most valuable private companies globally, plans to invest this capital in new AI products, acquisitions, and significantly expanding its international sales…

The shareholders of Banca Transilvania have approved the merger with OTP Bank Romania during the December 18 Extraordinary General Meeting. The integration process, which began in August 2024, is set to conclude on February 28, 2025, when the two banks will officially merge. Until the merger is finalized, both institutions will continue to operate independently,…

Dan Şucu, owner of furniture retailer Mobexpert and the main shareholder of the Rapid Bucharest football club in Romania, officially took over a 77% majority stake in the Italian football club Genoa CFC following a EUR 45 million capital increase. “The Romanian entrepreneur, through his own investment vehicle, fully subscribed to this capital increase, obtaining…

The Romanian coffee shop chain 5 To Go announced that the investment funds Invenio Partners from Bulgaria and Accession Capital Partners (ACP) from Poland have taken over 60% of the company’s shares. For Invenio Partners, this is the first direct local transaction, while ACP (formerly Mezzanine Management) already has several active deals in Romania. The…

Hungarian prime minister Viktor Orbán is set to meet with Bulgarian leaders in Sofia on Friday, December 20, before traveling to Bucharest for talks with Romanian prime minister Marcel Ciolacu, Hungarian government spokesperson Bertalan Havasi announced on December 18, as reported by state agency MTI and Economica.net. Orbán’s visit comes as Romania and Bulgaria celebrate…

ATM Ventures, the investment division of the car rental group Autonom (with bonds traded at Bucharest Exchange), owned by brothers Marius and Dan Ştefan, has taken over 30% of the shares of the Meridian Taxi company operating in Bucharest, according to Ziarul Financiar. The transaction takes place one year after Meridian, under the leadership of…

Romanian telecommunication group Digi Communications (BVB: Digi) announced that it launched a 100 TV channel package in Spain, where it operates in parts of the country while working to expand at the national level. The package is available for EUR 7 or as part of a EUR 17 bundle that includes fiber internet, Economica.net reported.…