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Last month was the hottest June since weather records began in Romania, with the average temperature from over 100 meteorological stations being more than one degree higher than in June 2019, according to data from the National Meteorological Administration (ANM) quoted by Hotnews.ro.  In fact, June 2024 was hotter than many past Julys and Augusts.…

Romania’s flag carrier Tarom announced on July 3 the signing of the leasing contract for the purchase of two Boeing 737 MAX 8 aircraft with CDB Aviation, the Irish subsidiary of China Development Bank Financial Leasing Co., Ltd.  The new MAX planes, scheduled to be delivered between December 2025 and January 2026, will support the…

Romania was eliminated from the EURO 2024 football tournament hosted by Germany after a 0-3 defeat to the Netherlands on Tuesday, July 2.  After some 20 minutes of Romanian domination, the Netherlands unexpectedly scored. While not losing stem immediately, Romania failed to recover and missed some good opportunities in the first half of the game,…

The tender held by the chemical company Chimcomplex Borzești for the construction of a 108 MW gas-fired cogeneration (combined heat and power) plant in Râmnicu Vâlcea, a project financed under the National Resilience Facility (PNRR) was canceled, according to Economica.net.  The company says the procedure was automatically canceled due to a lack of bidders, although…

The Japanese Bank for International Cooperation (JBIC) will co-finance the Resilience Venture Capital Fund (Recovery Equity Fund or REF) in Romania through one of its subsidiaries in Poland, Romanian authorities announced, quoted by Economica.net. “The representatives of JBIC stated that they are interested in the co-financing of [REF], an instrument for financing startups worth EUR…

Romania’s competition body, Consiliul Concurentei, approved the deal by which Romania’s leading financial group, Banca Transilvania (BVB: TLV), takes over the local subsidiaries of Hungarian group OTP, according to Profit.ro. Banca Transilvania’s market share by assets will reach 22%-23% after the deal, from just under 20% before. The competition body has not yet published the…

The Romanian Photovoltaic Industry Association (RPIA) and the Romanian Wind Energy Association (RWEA) representing producers, developers, service providers, and equipment suppliers in the renewable energy sector, asked the Romanian government to provide more predictability in the allocation of public support for their projects.  The joint statement of the associations comes after government officials hinted that…

The price of electricity on the balancing market in Romania spiked at RON 16,000 (EUR 3200) per MWh in the morning of July 2, as the production of intermittent generators (wind farms most likely) exceeded initial estimates. Meanwhile, the share of thermal (coal and natural gas-fired) electricity exceeded more than one-third of total production amid…

Romania’s general government budget deficit reached 3.61% of GDP in January-June, according to unofficial data quoted by Profit.ro. Official data will be published after July 25. The H1 deficit mentioned by Profit.ro implies a moderate 0.21% of GDP deficit in June (yet ten times the 0.02% deficit in June 2023) but a significant slippage for the…

Confident Communications, a marketing communications agency, has become the communication partner for Infosan, the only private ophthalmo pediatrics hospital in Romania. The campaigns that will take place aim to inform and educate the public on the diagnosis, treatment, and care of ophthalmological diseases of children, as well as methods of prevention and early identification of…