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During a recent interview, Raed Arafat, the head of the Department for Emergency Situations, announced that the RO-Alert system might expand to more platforms, potentially delivering warnings through television, email, and SMS in addition to the current phone alerts.  “We have a strategy for RO-Alert and recently had a working meeting with STS, which is…

The number of tourist arrivals in Bucharest during the first five months of 2024 reached 764,573, with the highest number of arrivals recorded in May (173,805) and the lowest in January (121,772), according to data from the National Institute of Statistics, as reported by Agerpres.  The majority of these arrivals, 642,317 (84% of the total),…

The Velo Masterplan, which covers the development of a network of bike lanes in the city, has been finalized and is now up for public consultation, the Bucharest City Hall announced. The planned network is divided into two categories, main and secondary, and is meant to encourage active mobility, the Bucharest City Hall explained. The…

On Sunday, August 11, the International Gymnastics Federation, or FIG, ruled that Ana Maria Bărbosu must receive the bronze medal in the floor exercise competition at the 2024 Olympic Games, effectively taking it from US gymnast Jordan Chiles. The American Gymnastics Federation, however, is contesting the decision with new video evidence. Romania had concluded its artistic…

AAylex ONE, which operates the poultry brand Cocorico, contracted a EUR 20 million loan from a syndicate formed by CEC Bank, Alpha Bank, and Exim Banca Românească, to support the company’s operational activity and its development, according to Opinia Buzau.  CEC Bank acted as lead coordinator of the transaction, providing EUR 10 million of the…

Global Grain International, a Romanian subsidiary of Moldovan agri group Trans-Oil Group controlled by Vaja Jhashi, announced that it has received state aid worth RON 121 million (EUR 24 million) from the Government of Romania through the Investalim grant scheme, according to Mold-Street. According to the group, this significant financial support is essential for the…

Romanian sugar producer Zahar Premium, which took over a sugar factory in Ludus (Mures County)  from French Tereos in February 2023, will invest in the next three years around RON 129 million (EUR 26 million) out of which roughly half (48%) was received as a state grant to increase its production capacity and expanding the…

Irish building materials group CRH, through its Romanian subsidiary Romcim (cement producer), took over local polyethylene pipes maker Tehno World which operates a factory in the northeastern part of the country at Falticeni, Ziarul Financiar announced. The daily estimates the deal, which was already endorsed by the Romanian competition body, at over EUR 100 million. …

Romania will tap the market with FX bonds twice by the end of the year, at the end of August (or beginning of September), and in November, announced the minister of Finance, Marcel Boloș, in an interview for Profit. The budget deficit topped 4% of GDP in January-July, up from 3.6% in January-June, he said.…

The National Bank of Romania (BNR) has not relaxed its monetary policy despite the two rate cuts operated already this year. Furthermore, it is not engaged in a monetary easing cycle, BNR governor Mugur Isarescu explained on August 9 while unveiling the quarterly Inflation Report. BNR cut the policy rate by 0.25 basis points to…