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Social Democrat (PSD) leader and prime minister Marcel Ciolacu remains the frontrunner in Romania’s presidential race that sees its first round on November 24, polling at 24.3%, according to a survey by AtlasIntel conducted between November 15–20 and published by Hotnews.ro.  The fight for second place and a spot in the run-off remains tight between…

American defense and technology giant Lockheed Martin has signed an agreement with Romanian company Sinteza SA to build a negative electrolyte factory in Oradea, which will produce components for the GridStar Flow battery system, Ebihoreanul.ro and G4Media.ro reported. The EUR 50 million investment, half of which is funded through Romania’s National Recovery and Resilience Plan…

Polish cinema is under the spotlight beginning this weekend, while more winter holidays-themed fairs are opening around the country and in Bucharest. In Bucharest: CinePOLSKA November 21 – November 27 The event will feature a series of online screenings on the TIFF Unlimited platform, available to the public in Romania and the Republic of Moldova.…

Trendyol, the largest Turkish e-commerce platform, controlled by the Chinese group Alibaba, is opening in Romania a distribution center for the markets of southeast Europe in a 20,000 sqm warehouse rented from the Polish group CCC, involved in shoe retailing. Trendyolt leased the warehouse from the logistics services company XPO, which sublet the surplus space…

Amazon is considering closing down the AGI Data Services in Romania – the department through which data was managed and validated to feed AI (artificial intelligence) models and applications, the company’s representatives confirmed, Ziarul Financiar reported. “After careful consideration, we have announced that we are exploring the option of closing down the operations of AGI…

The consumer protection body ANPC issued a decision by which ING Bank Romania should recalculate the interest and fees for some 90,000 loans, most of which are already repaid by customers, and return to borrowers the difference estimated by the bank at RON 350 million (EUR 70 million). The bank also estimates that the recalculation…

An amendment to the Fiscal Code in Romania, already promulgated by president Klaus Iohannis, introduces a 0.5% turnover tax owed by all oil and gas companies, irrespective of their size or profitability, on top of the 1% turnover tax owed by all companies in the country (irrespective of their sector of activity) with a turnover…

 The construction works volume in Romania edged up by another 2.2% q/q in seasonally adjusted terms after the 13.5% q/q advance in Q2, recovering part of the steep 21% q/q contraction in Q1, according to data published by the statistics office INS. However, constructors’ activity in Q3  still lagged 2.2% y/y behind the volume (in…

Omer Tetik, CEO of Banca Transilvania (BVB: TLV), highlighted robust loan demand in the third quarter and expressed confidence that the final quarter of the year will perform equally well.  “We are in a strong growth trend,” Tetik told analysts during a post-results conference, Ziarul Financiar reported. The bank, based in Cluj, posted a consolidated…

Romanian banks reported aggregated net profits of RON 4.2 billion (EUR 850 million) in Q3, up from some RON 3.7 billion (EUR 750 million) in each of the previous two quarters, setting a new record for the nominal quarterly earnings according to data published by the National Bank of Romania (BNR). The buoyant rise in…