Category: Uncategorized

Ukrainian president Volodymyr Zelensky once again thanked Romania for providing the Patriot system in his Wednesday, September 2, video speech.  Zelensky also mentioned the overnight attack that occurred very close to the border with Romania, damaging the Orlivka (Isaccea) crossing point. He called for joint air defense in areas near NATO countries, and for these…

The European Commission accepted that, at the October 15 Council of Ministers, the joint request of Romania, Bulgaria, and Greece regarding the faulty functioning of the electricity market be debated, energy minister Sebastian Burduja announced at the briefing after the government meeting, Agerpres reported. “If we contribute to the decarbonization process and the green transition,…

Cargus, one of the main courier companies in Romania, is expanding its portfolio by launching an international service, allowing its customers to send parcels from Romania to foreign destinations, such as Bulgaria and Greece, in the initial stage. This step marks a landmark in the company’s international expansion strategy, with plans to expand to other…

The founder of the healthy food brand FruFru will relaunch the brand in his own stores after taking it over from Unilever – whom he sold in 2020-2022, according to Ziarul Financiar. Starting in 2021, Mihai Simiuc developed the Ototo retail chain dedicated to independent brands, which has three physical stores in Bucharest and one…

E.ON has not decided yet whether to sell or not their energy supply business in Romania and even if they decide so, the deal is subject to approval from local authorities, energy minister Sebastian Burduja said, commenting on rumors about Hungary’s MVM as a potential buyer. He stressed that the potential deal, if completed, only…

Just after the recent budget revision that lifted the deficit target from 5% of GDP to nearly 7% of GDP, the government of Romania is distributing RON 7.7 bln for investment projects, RON 2 bln for subsidies for farmers, plus another RON 560 mln for local administration’s social expenditures – roughly RON 10.5 bln or…

The inflows of European funds are shrinking by RON 12 bln in 2024 compared to 2023, while foreign direct investments will decrease to EUR 5.6 bln from EUR 6.7 bln, according to a research report published by Libra Internet Bank’s chief economist Lucian Anghel, quoted by Ziarul Financiar. The public investments of RON 120 bln…

Grup Șerban Holding (BVB: GSH), a Bucharest Exchange listed group founded in 1994 by local entrepreneur Nicolae Șerban, will invest EUR 62.5 million in a French fries processing plant in Sascut, Bacău county, and the expansion of the cold storage capacity for vegetables, the company announced in a note to investors. Both projects are scheduled…

The construction of the Neptun Alpha production platform on Saipem’s sites in Indonesia and Italy is progressing according to schedule, and the Neptun Deep offshore project is on track for first gas in 2027, officials of OMV Petrom (BVB: SNP) – which operates Romania’s flagship offshore project – confirmed in a statement on October 2.…

Alexandru Dincovici, a professional with extensive experience in strategic management, leadership, consulting, and research, took over the role of General Director or the Romanian Business Leaders Foundation starting October 1. Dincovici succeeds Alina Burlacu, who, after 8 years in the organization, concludes her role. During her 4 years leading the RBL Foundation, Burlacu contributed to the…