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Two new private equity funds – Evolving Europe Principal Investments Fund II and Finance in Motion Renewables Growth Fund – will receive up to EUR 27.5 million under the national implementation of the Resilience Facility (PNRR) to invest in Romanian companies, the Romanian Ministry of Investments and European Projects (MIPE) announced. The Investment Committee appointed…

UniCredit downgraded its 2024 growth forecast for Romania to 1.7% (from 2.4% in July) due to the poor performance in H1 and a slower-than-anticipated recovery in the EU, but it upgraded its 2025 outlook to 1.9% (from 1.3% in July) owing to base effects, according to the latest research report of the financial group.  The fiscal…

The medium-term fiscal plan that Romania is supposed to send to the European Commission (EC) this month under the Excessive Deficit Procedure has among its objectives cutting the budget deficit to 2.4% in 2031 and bringing the public debt to GDP ratio under 60% by the end of the seven-year period (after possible deviations above…

The European Commission announced on October 15 that it had endorsed a positive preliminary assessment of the six targets and 62 out of 68 milestones linked to Romania’s third payment request for EUR 2 billion (net of pre-financing) under the Recovery and Resilience Facility. The Commission found that six milestones have not been fulfilled at this…

Moldovan airline HiSky completed its first direct flight from Bucharest to Paris on Monday, October 14, inaugurating its new regular route. Tickets start at EUR 59 for a one-way trip. HiSky is the third airline, after Romania’s and France’s national carriers, to operate flights between Bucharest and Paris’ main airport, Charles de Gaulle. Moreover, through HiSky’s…

Romania’s only nuclear energy producer, Nuclearelectrica (SNN), and the French company Framatome will undertake a joint project to produce the medical isotope Lutetium-177, which is used in various cancer treatments. The two companies have completed a feasibility study and will begin implementing the project, which includes detailed design, procurement, installation, and commissioning of an irradiation…

Trading activity in the office market slowed in the third quarter of this year, mirroring trends from 2021-2022. Total demand for modern office space for rent in Bucharest dropped by 25% compared to the same period in 2023, to 236,000 square meters. New lease demand reached 82,000 square meters, reflecting an 11% decrease year-on-year, according…

Romanian president Klaus Iohannis sent a message that was read at the opening of the Climate Change Summit, held in Bucharest between October 15-17. In the message, the president stressed that climate change poses transnational challenges across the world and the importance of events like the Climate Change Summit, now at its third edition. “Only…

A new P+2E parking structure will be built at the Henri Coandă Bucharest-Otopeni International Airport after construction company BOG’ART won a tender organized by the National Company Bucharest Airports. The tender’s budget was estimated at RON 93.2 million, excluding VAT, and the contract was awarded for the sum of RON 79 million, excluding VAT, according…

The third edition of the Salon of Romanian-American Artists opens this Friday, October 18, with the exhibition ANTISYMMETRIC: Romanian-Canadian Perspectives in Contemporary Art hosted by the Brâncuşi Gallery of the Romanian Cultural Institute (ICR) in New York. This edition of the annual Salon marks a true milestone, the organizers said, as it presents, for the…