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Romania’s industrial production index plunged by 4.2% y/y in August, marking one of the most significant annual declines in the past year and a half and witnessing subdued economic activity in the month. The manufacturing sector’s output contracted by 4.5% y/y. The industrial slowdown hasn’t come as a surprise after Romania’s exports and imports posted…

The gross foreign direct investments (FDI) to Romania contracted by some 7% to EUR 6.5 bln in 12 months to August 2024, according to data published by the National Bank of Romania (BNR).  Furthermore, FDI to Romania is essentially formed by reinvested earnings (and some intra-group financing) rather than new equity – only EUR 1.8…

Romania’s current account (CA) deficit increased by 25% y/y to EUR 2.8 bln in August 2024 amid the general deterioration of the external balance across nearly all chapters except for the transfer of funds to non-government (households mainly), according to data published by the National bank of Romania (BNR). The deficit in 12 months ending…

Both the expectations and the sentiment on the current conditions have deteriorated in September under the latest survey conducted among the members of the CFA Society Romania, with the overall index plunging to only 40.1 points – 6.7 points less compared to August and 10 points below the neutral 50-point benchmark. The feeble economic growth…

Romania may be retained EUR 1 billion out of the EUR 2.3 bln third disbursement under the Resilience Facility for failure to meet a number of targets, according to a letter of the European Commission sent to the Romanian Government in June and now surfaced in the media. Some EUR 300 mln – 500 mln…

The Romanian branch of the international organization Justice and Care, along with partners in the Ministry of Internal Affairs, announced the launch of a campaign to inform and prevent human trafficking and labor exploitation of Romanian citizens working abroad. The campaign runs from October 14 to 18, coinciding with the European Anti-Trafficking Day, observed annually…

Sphera Franchise Group, the largest foodservice operator in Romania, expands its portfolio by adding the Italian franchise Cioccolatitaliani*, part of Gioia Group. The brand is well known for its chocolate-based products, including ice cream, pastries and coffee. Sphera Group plans to develop the franchise on the Italian market and will inaugurate the first Cioccolatitaliani unit…

The novels in the third and final selection of the Prix Goncourt, France’s top literary prize, will be announced in Bucharest on October 22. The event, to be attended by the members of Académie Goncourt, adds to the list of several organized to mark the centenary of the French Institute in Romania. Seven of the…

Israeli businessman Beny Steinmetz, convicted in Romania in connection with a famous illegal restitution case, was detained at the Athens airport after arriving on a private flight from Tel Aviv, according to News.ro.  Steinmetz was sentenced to five years in prison by the Bucharest Court of Appeal in December 2020 for his involvement in forming…

Several presidential candidates have attended the Holy Liturgy on Monday, October 14, at the Metropolitan Cathedral in Iaşi, where Saint Parascheva is being celebrated.  Pilgrims go to the cathedral in Iaşi every year around October 14, to pray at the relics of Saint Parascheva, which they believe have miraculous powers. Over 200,000 people did so…