Category: Uncategorized

Romania’s state-operated airline Tarom canceled 10 flights that were scheduled to land or take off from the Henri Coandă Airport (Otopeni) on Monday morning, July 8. The situation caused chaos on Bucharest’s main airport, and transport minister Sorin Grindeanu asked the airline to take urgent action.  The company initially announced in a press release that only three…

The Bucharest Tribunal decided last week to maintain judicial control in the case of Andrew and Tristan Tate, a restrictive measure imposed as the two are waiting for their trial to start in Romania. However, the court also ruled they could leave Romania and travel within the European Union (EU), Hotnews.ro reported. The controversial influencer…

Romanian passenger railway company CFR Calatori announced that the transport capacity along the route between Ramnicu Valcea and Sibiu would be increased to compensate for the temporary closure of the Olt Valley road for one month starting July 8.  The road will be closed during the daytime for deforestation works needed for the preparation of…

Danish renewable energy group European Energy announced that it received grid connection approvals for around 500 MW of solar and wind energy projects across Romania, which bring the projects closer to the ready-to-build stage. The total development pipeline for European Energy Romania now exceeds 1.5 GW of solar and wind projects, and the company is…

The mayor of Bucharest, Nicuşor Dan, announced that, in a few weeks, the Bucharest Court of Appeal would give the final sentence in the last trial that the City Hall has with the owners of Cathedral Plaza, a 19-story illegal office building in downtown Bucharest close to the Saint Joseph Cathedral. He said he hopes…

Real estate developer One United Properties (BVB: ONE) announced in a stock market report on July 5 that its daughter company, ONE Gallery Floreasca, signed a lease contract with a value of just over EUR 40 million (VAT excluded) with Tomcat Comserv, the operator of the (restaurant) brands Treevi, Elephante, Sagakura, BaoHouse, and others. The…

Immobiliare Grande Distribuzione (IGD) of Italy is reportedly seeking to sell, among other assets, the retail shopping centres operated in Romania under the brand Winmarkt and the office building owned in Ploiesti, according to Economica.net. In total, the sale of the Romanian portfolio could bring the company EUR 120 million. At the end of last…

While the number of mergers and acquisition deals in Romania has slightly decreased in H1 this year (-6%-8%) compared to the same period in 2023, the aggregate value of the deals, most of them not fully disclosed and only estimated, remained steady (according to EY Romania) or even increased (+24% according to PwC Romania) after…

Romania’s central bank cut the monetary policy rate by 25 basis points (bp) to 6.75% on July 5, in line with consensus expectations. This was the first such move after the rate had stayed at 7% since January 2023 to fight inflation. Analysts expect further cuts to bring the policy rate to 6% by the…

Romania’s retail sales (volume terms) increased by 5.7% y/y in May, marking a visible slowdown from the outstanding +14.7% y/y in April, according to data published by the statistics office INS. The slowdown was also seen in the 0.3% m/m decline, calculated based on workday and seasonally adjusted terms. However, the annual growth rate for…