Category: Uncategorized

US Ambassador to Romania Kathleen Kavalec announced a USD 95,000 grant for the restoration of a 16th-century wooden church at the Maramureș Museum in Sighetu Marmației, northwestern Romania. The funds will be used to repair and conserve the wooden church, and to secure and maintain exhibits that promote the region’s multicultural heritage.    The church was…

With a rich history of over 200 years in the banking industry, Erste Group, a powerhouse in Eastern Europe’s financial services, has chosen to collaborate with Salt Edge, a leading open banking solutions provider. This strategic partnership, backed by the extensive expertise of both entities, is set to revolutionise multi-banking services in the CEE region.…

Global Vision, a leader in the Central and Eastern European real estate and energy sectors, proudly announces the development of its new AI-powered ESG platform. The platform, designed to enhance sustainability, operational efficiency, and responsible governance across its real estate and energy portfolio, was officially announced at a major business event in New York which…

Romania’s ruling Social Democratic Party (PSD) PSD has drafted a bill for the significant reduction of the tax burden for low-income employees, targeting salaries of up to RON 5,700 (EUR 1,140) in gross terms, which is some 54% above the current minimum statutory wage.  According to documents consulted by Profit, in the governing program that…

Analysts are divided ahead of the October 4 monetary board meeting of the National Bank of Romania (BNR), with only some of them expecting a 25 basis point (bp) cut to 6.25%  The median Bloomberg poll, cited by BCR chief economist Ciprian Dascălu, predicts no change, with 11 out of 19 respondents seeing stable rates,…

An uncertain urban climate and major administrative blockages, especially in Bucharest, resulted in a considerable negative impact on the national GDP, according to a report by the Association of Real Estate Investors from Romania (AREI). On the other hand, it can be argued that faster real estate development in regions outside Bucharest can only be…

Polish convenience store chain Zabka, which recently entered the Romanian market with the Froo brand, plans to open 50 stores on the Romanian market by the end of the year, according to the company’s financial director Marta Wrochna-Lastowska quoted by Profit.  In the medium term, Zabka wants to open more than 1,000 units per year,…

Alro Slatina (BVB: ALR), one of the largest vertically integrated aluminium producers in Europe by production capacity, has put into operation a new aluminium processing facility, following an investment of RON 13.7 mn (EUR 2.7mn). In conjunction with the launch of Cutsmart Systems, Alro is also announcing a comprehensive brand-revitalizing initiative that is under implementation.…

The varnish and paint manufacturer Evolor, owned by the ROCA Industry holding, inaugurated a new production facility on the Oltchim Râmnicu Vâlcea industrial platform, following an investment of EUR 3 million. The decorative plaster factory, which also includes a modern research and development laboratory, will produce approximately 10,000 tonnes of plasters of various types, increasing…

The World Bank Group and Romania concluded a partnership for the 2025-2029 period on Wednesday, October 2, through which the former will provide the latter with an estimated USD 6 billion in financing over the following three years. According to prime minister Marcel Ciolacu, USD 2.5 billion is allocated for the public sector and USD 3.5…