Category: Uncategorized

Only one out of five localities in Galati county, severely hit by the floods recently, had mandatory insurance at the end of August, according to data from PAID – the entity that manages the compulsory home insurance scheme against floods, earthquakes, and landslides.  The insurance rates tend to be much lower than the average in…

Real estate group Iulius announced it kicked up expansion works at its shopping mall in Suceava under a EUR 40 million project expected to be completed in the first half of 2025. The project will bring new retail spaces of ​​14,500 square meters (+33%) and involves the creation of additional spaces, as well as the…

Romanian telecommunications operator Digi Communications (BVB: DIGI) announced that, on September 16, the Romanian subsidiary of the group (Digi Romania) issued a notice of full redemption of the EUR 450 million bonds carrying a 2.5% coupon issued by the company in 2020 maturing in January 2025. The actual redemption date will be on September 27. The…

Japanese company Sumitomo Electric, a cable manufacturer for the automotive industry,  part of the Sumitomo Electric Bordnetze SE (SEBN) group active in 13 countries, is launching “a plan to reorganize its activities” in Bulgaria for the following two years, which involves the transfer of manufacturing operations to Romania and the Republic of Moldova, according to Profit.ro…

While the Romanian Government has generally linked the state aid extended to companies to the number of workplaces generated by the specific project, carmaker Dacia is now asking for a RON 37.5 million (EUR 7.5 million) state aid to finance part of the RON 85 million (EUR 17 billion) investment in a fully-automated paint shop.…

The latest data revealing widening twin deficits in Romania, published at the end of last week, prompted concerns and pushed up the yield of the 10-year bonds to 6.89% from 6.75% before, putting pressure on the public debt service, warned Adrian Codirlasu, deputy president of the CFA Romania Society. This is severely hindering the government’s…

The macroeconomic situation is rather good, it has actually improved recently, but it is going to deteriorate sharply in the coming quarters, according to the outcome of the latest survey carried out at the end of August among the Romanian CFA analysts. Thus, the indicator that reflects the current conditions improved by 4.9 points to…

Reverse PET, the app that seeks to turn recycling into an easy and rewarding activity, recently launched in Romania. The new digital tool covers the recycling of plastic bottles, cans, or glass bottles marked with the SGR symbol, rewarding users for each bottle collected. The app’s development was inspired by the Returnable Deposit System, or…

An earthquake of magnitude 5.4 shook Romania’s capital Bucharest and parts of Eastern Romania on Monday afternoon, September 16, around 17:40. No damages were reported after the event. According to the National Institute for Earth’s Physics (INFP), the earthquake occurred in the Vrancea seismic area, some 56 km North-West of Buzau and 59 km East…

Romania and the United States, through the head of the prime minister’s chancellery Alexandru-Mihai Ghigiu, and the US ambassador to Romania, Kathleen Kavalec, have signed a five-year Child Protection Framework Partnership valued at USD 10 million. The purpose of the partnership is to create a victim-centered prevention strategy and protect child victims of trafficking, according…