Category: Uncategorized

Swisspod, a Swiss-American company founded in 2019 by Romanian Denis Tudor and Cyril Dénéréaz, announced that it set a world record for the longest hyperloop journey, in collaboration with EPFL and HEIG-VD, at Europe’s first hyperloop testing facility, located in Switzerland. The milestone was achieved within the LIMITLESS project funded by the Swiss government through…

Romanian president Klaus Iohannis congratulated Donald Trump for winning the US presidential election on Wednesday, November 6. Similar messages came from presidential hopefuls Marcel Ciolacu, the current PM, far-right leader George Simion, and Senate president Nicolae Ciucă. Donald Trump claimed an “unprecedented political victory” in the presidential elections held on Tuesday, November 5. He thanked…

A second Romanian citizen has been confirmed dead following the floods that devastated the Valencia region last week, the Ministry of Foreign Affairs announced in a statement. Additionally, the number of Romanians officially reported missing has risen to seven.  At least 214 people have died in the Valencia region following the floods of last week.…

The individual budget for the Black Friday shopping campaign this year increased by 20% y/y to nearly EUR 400 in Romania, according to a study conducted by the MKOR research agency. Overall, sales of over EUR 1.2 billion are planned. The report also revealed that buyers are becoming more realistic about the discounts. “The data…

The Romanian Parliament committees for foreign policy and European affairs on November 5 gave a favourable opinion to Roxana Mînzatu, who was proposed for the position of European Commissioner from Romania. Mînzatu will also serve as a vice-president of the Commission. The vote in Romania’s Parliament was preceded by the publication of an investigative report…

The brokerage house Goldring maintains its target price for the shares of OMV Petrom (BVB: SNP) in the range of RON 0.78 – 0.82, estimated in the spring, according to a report published at the end of last week, quoted by Bursa.ro. The target price is 5.6%-11% above the current quotation of the company’s shares.…

Following last week’s discussions with the association of modern retailers, who account for over 70% of the domestic trade, the Romanian Ministry of Agriculture decided to give up expanding the price-capping system and instead set up a price monitoring committee. The ministry’s proposal to expand the price markup system from a list of basic food…

At the end of September, 755,000 Romanians were investors in open-end investment funds, 39% more compared to the same period last year, according to the Association of Fund Administrators (AAF) unveiling on November 5 data regarding the performance of investment funds in the third quarter of this year.  The portfolio of investment funds reached RON…

The International Monetary Fund (IMF) has begun its visit to Bucharest, meeting with representatives of the Romanian government to analyze the country’s economic developments and update its forecasts. Led by Jan Kees Martijn, the IMF mission will be in Bucharest until November 8, Ziarul Financiar reported.  During this visit, the IMF team will assess recent…

Romania has initiated its first integrated drone development program through a collaboration protocol signed on November 5 by the minister of economy, entrepreneurship, and tourism, Ștefan-Radu Oprea, and the minister of research, innovation, and digitization, Bogdan-Gruia Ivan. This agreement aims to foster scientific research and technological advancements in aerospace, specifically for creating a Romanian-manufactured drone.…