Category: Uncategorized

Turkish company Otokar won a tender to supply 1,059 Cobra II 4×4 Tactical Wheeled Light Armored Vehicles and some integrated logistics support services to Romania under a RON 4.26 bln (EUR 850 mln without VAT) contract, the company announced, according to Savunmasanayist.com. Otokar was the only one to submit a commercial offer before the March…

The Pentagon does not want Romania or Poland to shoot down Russian missiles over Ukraine, as Volodymyr Zelenskiy insists, because such an intervention could be seen as direct NATO involvement in the war in Ukraine, said Sabrina Singh, the spokesman for the US Department of Defense, according to Digi24. “It would involve us in war…

Romania’s Constitutional Court (CCR) invalidated on October 5 the presidential candidacy of far-right, populist politician Diana Sosoaca (SOS) – which, in principle, consolidates the position of the other, more moderate far-right candidate George Simion (AUR).  After independent candidate Mircea Geoana came under attack for his alleged ties with controversial local politicians, this is a second development within several…

The 330MW 5th unit of the Rovinari coal-fired power plant, within the Oltenia Energy Complex (CEO), is ready to be put into operation and connected to the national power grid after it was refurbished under a EUR 100 mln project, minister of energy Sebastian Burduja announced on October 6. Under the strategy for the country’s…

The energy price capping scheme will remain in force in its current form, as provided by law, at least until April 1, 2025, Romania’s Ministry of Energy assured after the European Commission requested the country to remove the restrictions related to the establishment of prices and the export of electricity and gas.  Prime minister Marcel…

The Court of Justice of the European Union (CJEU) announced on Friday, October 4, that it canceled the obligation provisioned in the Mobility Package for vehicles to return every eight weeks to the company’s operational center – one of the most criticized provisions, Economedia.ro reported.   However, the CJEU preserved the other provisions contested by…

The European Commission sent Romania two letters of formal notice, de facto requiring the country to terminate the energy price capping system, the most complex and costly in Europe, which, among others, impedes the country’s exports. Romania’s price capping system tends to keep the prices on the wholesale and retail markets above those expected to emerge…

Romania decided to skip the longer-term maturities (10-year and 20-year) and kept the 3-year, 5-year, and 7-year tranches only while scaling down accordingly the planned aggregate size at JPY 30 bln – the equivalent of just over EUR 200 mln – compared to up to EUR 500 mln initially envisaged, according to the Finance Ministry’s…

In its meeting of October 4, the Board of the National Bank of Romania (BNR) decided, “in light of the elevated uncertainty,” to keep the monetary policy rate at 6.50%, amid mixed expectations slightly skewed towards a 25 basis points (bp) cut. BNR cut the policy rate for the first time in July (-25bp) after it…

Romanian chain of luxury jewellery Teilor Holding has decided to offer bonds under two private placements in local and foreign currency at the Bucharest Stock Exchange, the company announced through a note published at the Bucharest Exchange (BVB), where it listed its previous bonds. The local and foreign-denominated bonds will all have a maturity of…