Category: Uncategorized

The Romanian flag carrier Tarom announced it was suspending flights to Tel Aviv, Amman, and Beirut starting August 6 for security reasons. The flights may be resumed on August 13, depending on the developments in the region. The decision was taken in the context of worsening tensions in the Middle East region after flights to…

The Bucharest Stock Exchange’s blue-chip index BET plunged by 3.4% on August 5, the steepest daily drop since the Government shook investors’ confidence by announcing supplementary taxation measures on December 28, 2022. On the upside, the liquidity was abundant, and some investors took advantage of the moment. Thus, the value of transactions with shares topped…

After 13 years of bringing Romanian and international premiere films to Timișoara, the TIFF Caravan event has evolved into a full-fledged festival, turning into the first edition of TIFF Timișoara. The four-day festival, from September 5-8, promises premiere films, the most popular movies from the recent TIFF edition held in Cluj-Napoca (June 14-24), a cine-concert,…

Romania’s National Investment Company has set a new deadline for the completion and reception of the restoration works of the Constanța Casino – November 2024. The current stage of the work is 85% complete. The restoration work on the Constanța Casino began in 2020 and has been extended due to the severe deterioration of the…

Real estate developer STC Partners has finalized the acquisition of a plot of land in the Foișorul de Foc area of the capital, where it plans to build the residential compound Quartier Ferdinand, a project with an estimated investment of close to EUR 35 million. STC Partners purchased the 4,400 sqm plot of land on…

Bucharest’s Municipal Administration for the Consolidation of Buildings with Seismic Risk will contract a loan of EUR 153 million from the Council of Europe Development Bank to consolidate 17 buildings in the city. Among the buildings to undergo consolidation works are cultural landmarks such as the Gheorghe Tattarescu Museum and the Very Small Theatre. The announcement…

Karan Khurana has been appointed CEO of Metro Romania, starting his mandate in August of this year.  Khurana, who has been working in international retail for more than 25 years, succeeds Adrian Ariciu, who has been promoted to Executive VP for Eastern Europe of Metro AG. Khurana joined the Metro group in February 2019 and…

INVL Renewable Energy Fund I, INVL Asset Management’s fund investing in renewable energy projects, will receive EUR 24.4 million in funding from the European Bank for Reconstruction and Development (EBRD) and Eiffel Investment Group to build a 60 MW solar power plant in Romania. The EBRD and the Paris-based Eiffel Investment Group’s Energy Infrastructure Investment…

Swedish company OX2 has closed an agreement to sell a 99.2 MW onshore wind project in Romania to Nala Renewables, a joint venture between independent commodity trading companyTrafigura and IFM Net Zero Infrastructure Fund. The agreement includes the construction of the wind farm, and the contract value is EUR 214 million. The project is located in the…

Haferland Week 2024, the cultural and ethnological festival of the Saxon communities in Transylvania, will take place from August 8-11 in ten localities in the Mureș and Brașov counties under the high patronage of Prince Philipp von und zu Liechtenstein and the auspices of the Royal Family of Romania.  Haferland is the historical name of…