Category: Uncategorized

Schaeffler Romania, the local subsidiary of the German Schaeffler group, plans to implement several cost reduction solutions in the immediate period, as the automotive industry is in a dire situation, and the solutions involve the Romanian subsidiary. The company confirmed it sent at least part of its employees of the Romanian subsidiary home in technical…

Swedish investment company Oresa Ventures and the Romanian entrepreneur Cristian Amza are reportedly negotiating the sale of the water bottling/watercooler company La Fântâna, according to Ziarul Financiar quoting sources familiar with the talks. A strategic investor is reportedly ready to pay EUR 150 mln. Both Oresa Ventures, which holds over 80% of the shares, and the company’s founder,…

A multidisciplinary festival, an outdoor opera event, and many film festivals are on the agenda in Bucharest, while Sibiu hosts a music festival dedicated to local artists and Oradea the local edition of TIFF. In Bucharest:  Unfinished September 27- September 29 The festival brings together artists, authors, athletes, urban planners, entrepreneurs, landscapers and many other…

Romania’s leading financial group, Banca Transilvania (BVB: TLV), has issued EUR 600 mln of FX bonds with a maturity of six (6) years on the international market in an unannounced operation on September 25, according to Bloomberg and Profit.ro. The demand was nearly quadruple (EUR 2.3 bln).  The issue’s arrangers are ING, JP Morgan, Morgan Stanley,…

Romania’s public debt edged down in June 2024 by RON 2.2 bln to RON 860.1 bln (EUR 172.8 bln) at the end of the month, according to data published by the Finance Ministry.  The debt-to-GDP ratio edged down to 51.4% from 51.5% at the end of May but remained above the 50% threshold for the fifth month…

Automobile producer Ford Otosan will assemble batteries for electric cars in its Romanian factory at Craiova, based on battery cells produced in another location, according to Economedia.ro quoting sources familiar with the project. The company did not confirm the information yet. Thus, the actual assembly of the batteries, the last step of the battery production…

Mark Twain International School, a globally recognized educational institution, will open one of its most spacious campuses in the Cosmopolis neighborhood. The total area of the project will be double the size which was initially announced at the signing of the partnership. Subsequently, as opposed to 4,000 square meters of constructed space, there will be…

According to a new study by car data company carVertical, Romanians are among the nations in Europe driving the least kilometers annually. The annual mileage of vehicles driving on Romanian roads is relatively low – 20,338 km – placing the country 17th out of 27 surveyed European states. Vehicles in neighboring Hungary (19,357 km) and…

Romania ranks last in the European Union in terms of the percentage of people interacting with public institutions through official websites or mobile applications, according to the latest data presented by Eurostat.  Less than a quarter of Romanians (23%) used the website or app of a public authority in 2023. By comparison, the EU average…

București Mall-Vitan, Romania’s first modern shopping center, celebrates 25 years, marking a quarter of a century of innovation, evolution and retail excellence. Launched in September 1999, by Anchor Grup, București Mall positioned itself, from the beginning, as a pioneer in this segment, setting new standards for the shopping experience in our country. The shopping center…