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The head of Romania’s executive, Marcel Ciolacu, was welcomed by British counterpart Keir Starmer on Wednesday, November 13, in London. The officials talked and announced that they have decided to enhance economic cooperation and the defense partnership. The visit was the first that a Romanian prime minister conducted in the United Kingdom in more than…

Hungarian low-cost carrier Wizz Air has announced plans to expand its Bucharest base with the addition of an Airbus A321neo aircraft in the summer of 2025, bringing the total to 19 aircraft stationed at Otopeni Airport. The airline also unveiled a new route to Chișinău and increased frequencies on 11 routes from the Romanian capital.…

Romania’s Labour Ministry published on November 13 the draft bill for updating the minimum statutory wage on an annual basis, by indexation with a coefficient that includes inflation and labour productivity gain, Cursdeguvernare.ro reported.  In case the result is lower than 52% of the projected average wage in the coming year, as projected by the…

The notifications requested from Ukraine and Moldova failed to confirm that nationalist leader George Simion (AUR) would be a Russian spy or would be in contact with Russian intelligence officers, Romanian prime minister Marcel Ciolacu stated in response to inquiries expressed by his rivals in the presidential elections, Nicolae Ciuca (Liberal Party, PNL) and Mircea…

Romania’s Senate has approved a USD 6 billion bill to purchase 32 F-35 fighter jets, engines, ammunition, and logistical support, securing 76 votes in favour.  This final parliamentary approval advances the bill to president Klaus Iohannis for promulgation unless contested at the Constitutional Court.  Under the terms, the aircraft delivery is expected by 2031, with…

Romania’s state-controlled Oil Terminal (BVB: OIL), managed by the Ministry of Energy, reported a net profit of RON 45.26 mln (EUR 9.05 mln), a 91% increase year-on-year, for the first nine months of 2024, according to revised financial results published on the Bucharest Stock Exchange.  Total revenues rose by 35% y/y to RON 354 mln…

Romania’s National Forestry Authority, Romsilva, is set to purchase over 4,000 hectares of forest land in Neamț County from Romanian-Swiss businessman Eric Ioan Sturdza for EUR 22 million, Profit.ro reported.  This acquisition, approved by Romsilva’s Board of Directors this summer, awaits final government authorisation.  The forested area lies adjacent to Ceahlău National Park, giving the…

The high competition among bidders pushed up the price charged by Romania’s largest wind farm, Fantanele-Cogealac, owned by Evryo owned by investment fund Macquarie, to RON 565 (over EUR 110) per MWh, a price that was paid by Electrica’s subsidiary DEER which won four of the seven contracts.  The starting prices ranged between RON 400…

The net inflows of foreign direct investments (FDI) in Romania increased by 9.5% y/y to nearly EUR 6.9 billion in 12 months to September 2024, while the new equity FDI surged by 50% y/y to over EUR 2.8 billion – a record for the past five years, according to data published by the National bank…

Romania’s current account (CA) deficit has widened by 26% y/y to EUR 26.3 billion in 12 months to September 2024, according to data published by the National Bank of Romania (BNR). It was a new record after the costly energy imports pushed up the CA gap in 2022 after the onset of the war in Ukraine.…