Category: Uncategorized

The volume of construction works in Romania surged by 16.2% y/y in April after unexpectedly contracting by 7.0% y/y in Q1, according to data published by the statistics office INS. The sector of construction made a negative contribution to Romania’s GDP growth in Q1 after it propped up a modest 1.9% economic advance in 2023.…

Russia resumed the production of the station wagon model Lada Largus, designed and launched by Romania’s Dacia automobile factory some 20 years ago under the name Dacia Logan MCV and transferred by the Renault group to the AvtoVAZ factory in Russia, where the French group held the majority stake until last year, Newsweek.ro reported.  In…

Alior Bank, through its Romanian branch Alior Bank Warsaw – Bucharest Branch (Alior Romania), as the transferor, and Patria Bank, as the transferee, announced that on June 20, 2024, a contract was signed for the transfer of a portfolio of consumer loans with a net balance of RON 97 million (EUR 20 million) at April…

The European Commission (EC) drafted a new letter with observations regarding Romania’s third disbursement request under the Resilience Facility, in which the biggest point of divergence is represented by the micro-enterprise regime, according to Profit.ro.  Romania’s authorities still expect to have the third disbursement request, filed on December 15, 2023, cleared by the end of…

Romania’s finance minister, Marcel Bolos, announced in a Facebook post that the e-VAT regulations, aimed at fighting tax evasion, will be enforced as of August 1 – prompting concerns among accountants who claim that the bill was not properly discussed in advance and may cause bottlenecks. Under the new regulations consulted by Profit.ro, each company…

A recent blackout in the Western Balkans states, the heatwave, and the nuclear plant Nuclearelectriva operating only one of its reactors pushed up the average electricity price on Romania’s day-ahead market (DAM) above EUR 200 per MWh for the delivery day June 25. The hourly price peaked above EUR 420 per MWh in the evening hours,…

The city of Vancouver, in western Canada, recently proclaimed June 24 as the Universal Day of the Traditional Romanian Blouse.  On June 20, during a ceremony at the Vancouver City Hall, deputy mayor Lenny Zhou handed a Proclamation to Gabriel Rotaru, the Consul General of Romania. This proclamation, issued by mayor Ken Sim on behalf…

The “Namaste India” Festival returns with its 15th edition, taking place from June 28 to 30 at the Botanical Garden in Bucharest. Over 50 events celebrating the richness and diversity of Indian traditions will take place daily from 9:00 AM to 8:00 PM. Dance performances, concerts, book launches, and yoga classes, along with workshops, readings,…

In a period marked by global economic challenges, the Romanian business process outsourcing (BPO) market continues to grow from year to year, according to Computer Generated Solutions (CGS) Romania. With an estimated value of USD 375 million in 2024, the local BPO market can grow by more than 30% over the next five years. “Romania…

The president of the Romanian Cultural Institute (ICR), Liviu Jicman, took on the role of President of EUNIC – European Union National Institutes for Culture during the General Assembly held in Bucharest on June 19-20, 2024.  EUNIC is the network of national cultural institutes from EU member states, as well as the UK and Ukraine,…