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Two men, aged 33 and 36, were detained on Tuesday, September 24, for international drug trafficking after Romanian prosecutors and police discovered cocaine hidden in approximately 15 tons of frozen fruit pulp from Ecuador in the Port of Constanța. According to investigators, on September 18, a Romanian company unloaded what documents said were barrels and…

The Central and Eastern European EU members (EU-CEE) have undergone an impressive process of economic catch-up since the early 2000s, but the previously successful model of taking over labour-intensive production steps as an ‘extended workbench’ for Western companies is increasingly nearing its limits and the countries need a new industrial policy worthy of the name…

The Romanian subsidiary of the digital e-commerce platform Packeta group, Packeta Romania, announced a new partnership with the office and stationery store chain Diverta, through which it added 17 new pick-up points to its national network. The new pick-up points in the Diverta network will facilitate the process of picking up orders, contributing to increasing…

Romania’s prime minister Marcel Ciolacu, on September 24, met representatives of OMV Petrom, whom he assured of the government’s support for the Neptun Deep offshore project that was finally launched after years of hesitations and expects to see the first drillings by the end of the year. The project faces hurdles from environmental groups concerned…

The turnover of two major food delivery platforms (Glovo and Bringo) decreased after stellar expansion during the pandemic period, while a third one (Tazz) posted a 19% growth rate consistent with the growth rates seen in traditional industries, according to Ziarul Financiar compiling public data. Beyond sales declines, two of the players (Tazz and Bringo)…

Romania’s twin fiscal and current account deficits will narrow in 2025 in line with softer pressures posed from both the public and private, under the baseline scenario drafted by CEC Bank’s Head of Asset and Liability Management Ionut Lianu quoted by Economica.net. The fiscal consolidation and lower (if any) real rise of the average wages…

Romania sticks with its plans to deliver the fiscal consolidation strategy to the European Commission by October 15, and the strategy encompasses a seven-year transition before reaching the 3%-of-GDP gap, finance minister Marcel Bolos confirmed in a conference, quoted by Economica.net. Some delays in the delivery wouldn’t come as a surprise given the electoral calendar…

The Romanian households increased their stock of bank loans by RON 12.7 bln (EUR 2.54 bln) in 12 months to August 2024 (+7.4% y/y to RON 185 bln), compared to only RON 0.3 bln (+0.2%) in the previous 12-month period, according to data published by the National Bank of Romania (BNR). The higher net wages…

Sean Baker’s Anora, this year’s winner of the Palme d’Or, is among the films that will be screened at Les Films de Cannes à Bucarest, the festival running a program of auteur films awarded at the Cannes Festival and other major film events. The film follows Anora, a young sex worker in Brooklyn, who gets…

The General Secretariat of the Government launched the tender for the project aimed at boosting the energy efficiency of the Victoria Palace, which currently houses the prime minister and his cabinet. The total estimated value of the contract amounts to over RON 135.7 million (or some EUR 27 million), according to news agency Agerpres. The…