Category: Uncategorized

Omer Tetik, CEO of Banca Transilvania (BVB: TLV), highlighted robust loan demand in the third quarter and expressed confidence that the final quarter of the year will perform equally well.  “We are in a strong growth trend,” Tetik told analysts during a post-results conference, Ziarul Financiar reported. The bank, based in Cluj, posted a consolidated…

Romanian banks reported aggregated net profits of RON 4.2 billion (EUR 850 million) in Q3, up from some RON 3.7 billion (EUR 750 million) in each of the previous two quarters, setting a new record for the nominal quarterly earnings according to data published by the National Bank of Romania (BNR). The buoyant rise in…

The UEFA Appeals Body awarded Romania a 3-0 win after Kosovo abandoned the Nations League match in Bucharest last week. However, the Romanian Football Federation has also been fined, and the national team will play the next home match behind closed doors.  With this forfeit victory, Romania wins all six matches in the Nations League…

South Korean company Hanwha Aerospace has established a local subsidiary, Hanwha Aerospace Romania. The company will develop a strategic partnership with Romania and provide local production and MRO (maintenance and repair operations) services, it said. “Hanwha Aerospace Romania was established as part of a commitment to strengthen industrial partnerships, support the modernization of the Romanian…

By teaming up with CC Tax, APTIQ Tax will offer specialized financial solutions for SMEs APTIQ Global has announced the consolidation of its tax advisory division by expanding its integrated services for SMEs, following the affiliation of CC Tax to the APTIQ Tax brand. APTIQ Tax will continue to offer comprehensive accounting, auditing and tax…

The European Investment Bank (EIB) is providing a EUR 200 million loan to Romanian energy distributor Delgaz Grid to modernize its electricity grid in northeastern Romania. The financing is part of a EUR 630 million investment program by Delgaz Grid, which aims to improve the energy system serving more than 1.5 million households and businesses.…

The Ministry of Foreign Affairs (MAE) announced Wednesday, November 20, that Romania’s embassy in Kyiv has reduced its operations to emergency actions due to escalating security concerns in Ukraine.  “Given the security developments in Ukraine, in coordination with allied and EU member state missions, the Romanian embassy in Kyiv has taken additional measures to ensure…

The Oriental Art Gallery, a new permanent exhibition at the National Museum of Art of Romania (MNAR), is scheduled to open starting November 22. Located on the third floor of the museum’s HQ on Calea Victoriei, the gallery includes close to 600 items from Azerbaijan, Bulgaria, China, Dagestan, Egypt, Greece, India, Iran, Japan, Syria, Turkey,…

Entrepreneurs in Romania correctly perceive business opportunities in the market but fear failure and see difficult access to financing as a significant barrier to business development. These are two main findings included in the country report on entrepreneurship – research conducted by the Babeș-Bolyai University (UBB)-FSEGA team within the international project Global Entrepreneurship Monitor (GEM). …

When it comes to saving, Romanians prefer bank deposits, while the level of participation in the capital market is low, according to a research project carried out by Raiffeisen Bank and the Bucharest Academy of Economic Studies. Bank deposits are the main form of savings Romanians resort to. Still, their level is the lowest compared…