Category: Uncategorized

Ogre AI, the Romanian-British energy tech startup focused on data science and specializing in providing AI-based forecasting solutions for the energy sector, announced that it closed a new investment round of EUR 3 million. VERBUND X Ventures, the corporate venture capital arm of the Austrian electricity supplier VERBUND, led the round, while other investors such…

Romania’s annual inflation rate eased to 5.1% in August 2024 from 5.42% in July, according to the official report released by the statistics institute INS on Wednesday, September 11. However, the figure was still higher than the 4.9% reported for June. The inflation rate since the beginning of the year (August 2024 compared to December 2023)…

Italian-French supplier of eyeglasses EssilorLuxottica, which recently bought the OPTIBlu and Optiplaza retailers in Romania, is also investing in local production and is building an integrated business in the Romanian optical market, according to Ziarul Financiar. The group reportedly took over two local factories that were recently set up: the lenses factory Rhein Vision from…

Turkish manufacturer of galvanised steel pipes Borusan Pipe opened its EUR 15 million centre near Ploiesti in southern Romania, where the group plans to reach a capacity of 10,000 tonnes of pipes per year within two years. The investment was supported by a EUR 5.83 million state grant. The new facility will carry out cutting…

Turkish e-commerce major Trendyol, with Alibaba as the largest shareholder, is planning to develop a regional logistics centre close to Bucharest to serve the entire southeastern Europe, according to the group’s president Çağlayan Çetin, quoted by Economica.net. “We are already the biggest player in online fashion in Romania (by the number of products),” said the…

Romania ranks as the European Union’s leading exporter of wheat and barley in the first two months of the marketing year 2024-2025, amid lower exports of the Union, according to the preliminary (and incomplete, in the case of France) data published by the European Commission and quoted by Economedia.ro. The European Union exported 4.82 million…

The market of fast-moving consumer goods (FMCG) and technical products (electro-IT) grew by 7.4%y/y to RON 58.5 billion (EUR 11.77 billion) in the first half of 2024 (H1), according to a GFK report quoted by Economica.net. Food sales made up the largest part of the market.  Lower inflation encouraged Romanian consumers, but the desire to make…

HBFS Robotics, the team of the National University of Science and Technology Politehnica Bucharest, represented Romania once again at the RobotChallenge competition in China, where it claimed a total of 5 medals. The Romanian students won all three awards (1st, 2nd, and 3rd places) in the Line Follower category and 1st and 2nd places in…

The National Administration “Romanian Waters” announced on Monday, September 9, the leasing of 71 beach sectors for tourism and sports-related recreational purposes, for ten years.  The majority of beach sectors available for lease are located in Mamaia, followed by Constanța, Eforie Nord, and Vama Veche.  “The 71 beach sectors have two types of purposes: tourism…

NATO deputy secretary general Mircea Geoană was awarded the NATO “Meritorious Service Medal” on Tuesday, September 10, in recognition of his outstanding service within the North Atlantic Alliance.  In his speech during the award ceremony, Geoană expressed that it had been a privilege to work alongside NATO secretary general Jens Stoltenberg, to represent Romania, and…