Category: Uncategorized

The representation of Romania’s equity market in the MSCI Frontier Markets indices is set to grow, with two additional Romanian companies slated for inclusion in MSCI’s global benchmark indices. Starting November 26, 2024, shares of Turbomecanica (TBM) and Prebet Aiud (PREB), both listed on the Bucharest Stock Exchange, will join the MSCI Frontier IMI and…

Flip.ro, a company specializing in selling refurbished phones, tablets, and laptops, made sales worth EUR 2 million on the first day of its Black Friday campaign, November 7. The Romanian startup promotes sustainable shopping and a circular economy by offering consumers expertly refurbished devices, with a 2-year warranty. This year, over 1,000 orders were placed…

Romanian energy group Electrica (BVB: EL) on Friday secured shareholder approval for a series of initiatives aimed at strengthening its financial position and boosting its renewable energy portfolio, including the issuance of green bonds worth up to EUR 500 million and major investments in solar power projects. The green bond issuance, which could raise as…

Azopan, an expanding online archive of analog photography spanning 100 years, gathers a wealth of public and private moments as they were captured in the many photos tucked away in corners of people’s homes or other storage spaces, rescued from oblivion and deterioration, and made available to the public. Photography has always played an important…

Romanian president Klaus Iohannis was involved in a controversial episode on Thursday, November 7, when he turned his back to Hungarian prime minister Viktor Orban in an apparent diplomatic snub. The latter was officially welcoming him to Budapest for the informal European Council meeting. After he arrived at the Puskas Arena in Budapest, president Klaus…

Restart Energy finalized the implementation of a photovoltaic project worth EUR 300,000 for Teleferic Cindrel, administrator of the ski area Păltiniș Arena. The power plant has a capacity of 400 kWp and produces 445 MWh annually, the company said. The project consists of 800 panels located on the ground in Păltiniș Arena, Sibiu county. They cover…

The West University of Timișoara (UVT), in collaboration with the city’s public transport company STPT, has launched a special initiative titled ‘Cultural Tram,’ aimed at promoting art to the local community. The project transforms one of Timișoara’s trams into a mobile exhibition space. With contributions from students of UVT’s Faculty of Art and Design, the…

The government recently approved a draft law by which Romania agrees to purchase 32 F-35 aircraft from the United States, the most expensive acquisition in the history of the Romanian Army. Romania will acquire the F-35 aircraft in two phases: first, 32 aircraft (two squadrons), followed by 16 aircraft (one squadron), totaling 48 aircraft. The…

Commercial banks active in the Romanian market reported an aggregated average liquidity surplus of RON 26.9 bln in October, a considerable reduction from RON 39.5 bln in September, according to published statistical data by the National Bank of Romania (BNR), quoted by Economica.net. This may put an end to the decrease and even push up the…

The surcharge levied on energy production companies under Romania’s mechanism aimed at capping the end-user prices is breaching the principles of fair taxation, according to a ruling of the Constitutional Court quoted by Economica.net. The Ministry of Energy says it is analyzing the implications of the ruling. The Constitutional Court “admitted the exception of unconstitutionality…