Category: Uncategorized

Approximately 400 people from four counties in Romania have been preventively evacuated due to flooding in the last 24 hours, according to representatives of the General Inspectorate for Emergency Situations, or IGSU.  Authorities announced that on Thursday, May 29, up to 69 localities across 14 counties in Romania were impacted by the effects of heavy…

President Nicușor Dan said on Thursday, May 29, that appointing a technocratic prime minister would not be a suitable solution, arguing that such a figure would lack authority over political leaders. During a statement on the country’s economic and political situation, Dan emphasized that Romania needs a political government ready to work for the next three…

The aggregated net profit of the Romanian banking system edged down by a mere 0.7% y/y to RON 3.7 billion (EUR 740 million) in Q1, according to data published by the National Bank of Romania (BNR). The profitability ratios have slightly deteriorated compared to Q1 2024 but remained only marginally below the average 2024 levels.…

The Hungarian government will provide assistance for the restoration of the Praid Salt Mine, Hungarian prime minister Viktor Orban announced on May 28 in a Facebook post, following a phone call with the leader of the Hungarian party in Romania, Kelemen Hunor, Profit.ro reported.  The salt mine, severely affected by heavy flooding, is located in…

Electromontaj, a prominent player in the energy construction and installation sector in Romania, announced plans for an Initial Public Offering (IPO) on the Bucharest Stock Exchange (BVB), facilitated by local brokerage firm TradeVille. The IPO is expected to take place this summer. “Listing the EM Group on the Bucharest Stock Exchange through an IPO is…

The European Union unveiled a new Black Sea security strategy on May 28 aimed at improving the region’s ability to transport heavy military equipment in response to growing threats from Russia, Politico reported. “Security in the Black Sea is vital also to European security,” said EU foreign policy chief Kaja Kallas, citing the Kremlin’s war…

Sun Wave Pharma (Romania), part of the Indian group with the same name, exerted pressure on the manufacturer Geltec Private (India) in order to stop delivering food supplements to Bleu Pharma (Romania), its competitor in the Romanian market, Romania’s Competition Council concluded following an in-depth investigation. “We have prohibited the company Sun Wave Pharma from…

Techtex, a company specializing in the production of technical textiles, mainly personal protective equipment (face masks, Dr. Albert brand), part of the IKEA supplier Taparo Group (also in dire financial conditions), has entered insolvency, according to Ziarul Financiar. The face mask factory was developed by the Taparo Group during the 2020 pandemic, with EUR 20…

Ilie Bolojan, interim president of the National Liberal Party (PNL) and the leading candidate to become Romania’s next prime minister, warned that tax hikes may be necessary to address the country’s worsening fiscal crisis. His remarks followed informal consultations at Cotroceni Palace on May 28, convened by president Nicușor Dan amid ongoing negotiations to form…

At the initiative of the president of Romania, it was agreed that, in parallel with the negotiations for the formation of the new government, a plan of measures aimed at reducing public spending would be developed by the pro-European parties and representatives of the national minorities, to be assumed and implemented by the future Executive,…