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Romania’s Ministry of Energy extended a EUR 33 million grant under the Resilience Facility to Heliomit, a firm controlled by local entrepreneur Tudor Mihăilă (24), for the development of a PV panel assembly plant with an annual capacity of 1,500MW. The photovoltaic panel factory will be developed in Bârlad, Vaslui county. “The support of almost…

Romania’s Ministry of Energy announced it cleared the disbursement of grants under the Resilience Facility in the total amount of nearly EUR 36 million for five power storage projects with a combined capacity of over 790MWh. Among the recipients, there are investment vehicles of “a Dutch billionaire and an Austrian real estate developer,” according to…

German insurer Signal Iduna announced the signing of the agreement for the acquisition of a majority stake in the Romanian insurance firm Garanta Asigurări from Greece’s market leader – The Ethniki, Hellenic General Insurance Company. Following the success recorded in 2021 through the acquisition and integration of the two Romanian subsidiaries (life and general) of…

Major Romanian online retailer eMAG announced plans to expand operations in the Republic of Moldova in 2025 or 2026. “We are considering an expansion in the Republic of Moldova, but I don’t know if it will be in 2025 or 2026,” eMAG’s CEO Tudor Manea said at the press conference dedicated to the Black Friday…

Banca Comercială Română (BCR), part of Erste Group, announced the launch for the first time in Europe of the Visa+ functionality, which simplifies and accelerates money transfers between people, allowing BCR customers to receive money in three currencies (RON, EUR, and USD), using only mobile phone numbers – as opposed to bank details such as…

MINA Cluj, the largest immersive art center in Europe, opened its doors for a preview last week, offering an initial experience of the show and interactive installations. The official opening took place with MINA representatives, local authorities, and special guests who spoke about the impact the new cultural space will have on Cluj in particular,…

A total of 975,582 Romanian tourists traveled to Turkey by the end of the third quarter of 2024, a record compared to past years. According to data, over the nine months, Turkey’s tourism sector reported a 16% increase in Romanian visitors compared to the same period in 2023 (821,639) and a 26% increase compared to…

The National Art Gallery of the Brukenthal Museum in Sibiu will open to the public on November 24 following extensive restoration and modernization efforts, the institution announced.  The National Art Gallery will present an exceptional collection of sculpture, photography, historical artifacts, books, drawings, and more. This exhibition will draw from the Brukenthal National Museum’s extensive…

MASTERBUILD General Contractor & Developer completed the construction of a new shopping center in Pitești, southern Romania, developed by Square 7 Properties in partnership with Belgian investment fund Mitiska REIM.  The new Pitești Shopping Park is located in the northern area of Pitești, covering a total leasable area of 24,000 sqm. Located on Nicolae Bălcescu…

Romanian president Klaus Iohannis, prime minister Marcel Ciolacu, and other Romanian politicians and officials have congratulated Maia Sandu for her re-election in the presidential elections in the Republic of Moldova. Maia Sandu secured a second term as Moldova’s president, winning over 55% of votes overall. The pro-Russian candidate Alexandr Stoianoglo won 44.65% of votes, and…