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The radar system of the Romanian Army spotted again two unidentified flying objects close to the border with Ukraine on the night of October 23 to 24, when two F-16 fighter jets were lifted to monitor the objects but failed to establish visual contact.  Eventually, the radar also lost contact, and the military will now…

The weekend Romania switches to winter time brings a treat for film and literature lovers as top festivals dedicated to these genres take place in Bucharest and in the country. In Bucharest:  Les Films de Cannes à Bucarest October 25 – November 3 The 25th edition of the festival brings its usual crop of recent…

Romanian utility firm Electrica (BVB: EL), a major player in the electricity distribution and supply market, announced that its board of directors approved the RON 3.7 billion (EUR 750 million) investment plan of the subsidiary Distribuţie Energie Electrică Romania (DEER) for the period 2025-2029. DEER would thus make investments of RON 706 million in 2025,…

The government of Romania approved the beginning of negotiations with the European Investment Bank (EIB) for two loans of EUR 300 million each, aimed at financing two railway modernization projects worth over EUR 3.7 billion in total, of which EUR 2.2 billion are funded under the Recovery and Resilience Facility (RRF). The first project regards…

SMEs will have access to EUR 478 million of concessionary financing for sustainability and competitiveness projects from seven local banks under a scheme that channels part of Romania’s Recovery and Resilience Facility (RRF) money under a rather complex mechanism (InvestEU Member State Compartment) to be used as guarantees for such projects, announced the European Investment…

RURIS Craiova, a machinery manufacturer founded and led by entrepreneur Cătălin Stroe, has unveiled plans to initiate a new investment exceeding EUR 10 million for a factory dedicated to producing tractors and trailers for farmers.  The manufacturer will showcase the prototype tractor at the INDAGRA fair, taking place at Romexpo in Bucharest from October 30…

The stock of bank loans in Romania rose by 8.4% y/y to RON 413 billion (some EUR 82.6 billion) at the end of September, gaining momentum from +7.7% y/y in August and +6.8% y/y at the end of July, according to data published by the National Bank of Romania. Deposit accumulation is even faster, and the…

The aggregated turnover of Romania’s IT industry lost momentum from a 33% y/y growth rate in 2022 to only +12% y/y in 2023, when it reached EUR 15.6 billion, according to a study carried out by a research group from the Academy of Economic Studies in Bucharest at the request of the Employers’ Association of…

Ingka Investments, the investment division of IKEA, received from the Romanian energy market regulator ANRE the final authorization for a 300 MWp photovoltaic park in Dâmbovța county, announced Economica.net. It is a large photovoltaic park of about 300 MWp, developed in two phases within the territory of Butimanu township in Dâmbovița county. Butimanu Energy, the…

Focus: Providing support to clients expanding internationally, especially in Western Europe and the US The agency has worked with more than 150 technology clients over the seven years since its launch The full-service communications agency DiFine PR appoints Marius Buterchi as Senior Corporate Communication Manager to strengthen the agency’s expertise in the tech sector and…