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“Our ruling coalition with the Social Democrats ends here,” but “we remain in the Executive only to prevent the full escalation of abuses that they can achieve to win elections,” Nicolae Ciuca, the leader of the junior ruling Liberal Party (PNL) in Romania, said in a statement that prompted confusion as regards its political implications…

German company Schaeffler plans to lay off 800 people from the almost 5,000 employees at its Romanian factory in Cristian, near Brasov, by the end of this year, according to Profit.ro.  The company’s problems surfaced recently when almost 1,000 employees were put on technical unemployment for two months in a row. Cristian’s factory is totally…

Fondul Proprietatea (BVB: FP) announced on October 7 that it has started the selection procedure for a new alternative investment manager after its shareholders voted to extend the mandate of the current administrator, Franklin Templeton, for only a period of one year (compared to the four-year renewals so far) until March 31, 2026. The change…

Romanian analysts expect 1.5% economic growth this year and the same rate for 2025 when downside risks could bring the GDP growth rate towards 1.0%, according to representatives of the CFA Society Romania unveiling the results of the latest poll among its members, conducted at the end of September. Some of the analysts expect an…

Romania’s retail sales volume index returned in August to the record level reached in June after its annual growth rate remained above 8% y/y for the third consecutive month, according to data published by the statistics office INS. The country’s retail sales rose by 6.4% in Q1 and 9.6% y/y in Q2, gaining momentum after…

Romanian mergers and acquisitions (M&A) market recorded 198 transactions during the first nine months (9M) of 2024, marking an 8.2% increase compared to the same period last year (183 deals), EY said in a quarterly report. The estimated value of Romanian M&A activity rose by 22.3% y/y, reaching EUR 5.2 bln versus EUR 4.2 bln…

Swiss group Ameropa is considering the sale of the fertiliser producer Azomures in central Romania due to high gas prices, which prevent the continued operation of the plant, according to Economedia.ro.  Local entrepreneur Stefan Vuza, who owns the Chimcomplex chemical group, is reportedly interested. Sources from Azomures also confirmed the talks with Chimcomplex.  At the…

The rehabilitation of the Saxon Church in Alma Vii, in Romania’s Sibiu county, won the Public Choice Award at this year’s European Heritage Awards / Europa Nostra Awards. The Alma Vii project raised the largest number of votes, cast via an online poll with the participation of some 10,000 citizens from all over Europe. The…

The European Commission announced on Monday, October 7, that it has approved, under EU state aid rules, Romania’s EUR 500 million scheme to support investments in new biofuel production capacities.  Under the scheme, which Romania plans to finance through the EU’s Modernisation Fund, the aid will be provided in the form of direct grants. The…

The Romanian government issued a statement on Monday, October 7, condemning the attacks against the State of Israel and expressed support for international efforts to secure a ceasefire agreement.  The statement comes to commemorate one year since Hamas’ attacks on Israel. “Today, October 7, 2024, we commemorate one year since Hamas’s atrocious attacks against the…