Category: Uncategorized

Vitesco Technologies, a leading international developer and manufacturer of cutting-edge drive systems for sustainable mobility, appointed Sunil Mahesh Moudgalya as director for its factory in Brașov, central Romania. He replaces Raffaele Russo, who continues his career as Head of Quality Operations, Supply Chain Management & Purchasing at Schaeffler.  Sunil Mahesh Moudgalya has over 15 years…

Romania is expected to enter the Visa Waiver scheme and thus travel freely in the United States as the country already met the 3% visa refusal rate requirement, prime minister Marcel Ciolacu told Realitatea TV station, Profit.ro reported.  An official announcement is expected around October 15, he said. Separately, president Klaus Iohannis announced good odds…

Ussuri Capital Partners (UPC), a company based in Turkey with Ukraine’s Roman Kurashev as CEO and co-founding member, announced that it is launching the first round of financing, through which it wants to raise EUR 60 mln for the first phase of the planned EUR 900 mln steel plant in Romania, according to Economica.net. The…

The sovereign fund of the state of Singapore (GIC) is reportedly considering the sale of the logistics project P3 in Romania, estimated at EUR 265 mln, according to Ziarul Financiar, quoting data familiar with the negotiations.  CTP, WDP, as well as Garbe and Hillwood are reportedly among the interested buyers. The P3 logistic park is…

Romania’s leading financial group, Banca Transilvania (BVB: TLV), announced the final results of the FX bond issued on September 25, when it raised EUR 700 mln in bonds maturing in 2030, listed on the Dublin Stock Exchange and eligible for the Minimum Requirement for Own Funds and Eligible Liabilities (MREL). This marked the second year…

The farmers, whose crops were damaged in a proportion superior to 50% by the drought in the previous farming year, will have their dues to bank and non-bank financial institutions deferred until August 2025 and will get state aid in the form of loans, according to the amendments to some emergency ordinances agreed by the…

Despite the opposite statement of government officials, the authorities in Bucharest seek to defer the delivery of the fiscal consolidation plan, expected by the European Commission in principle by September 20, until after elections in January 2025, according to Ziarul Financiar quoting sources familiar with the negotiations. Romania’s government recently revised 2024 budget planning to…

Romania undergone the sharpest deterioration of its 2024 growth outlook among the set of countries covered by the European Bank for Reconstruction and Development (EBRD): -1.8 percentage points (pp) from 3.2% in May to 1.4% in September, according to the Bank’s regional report published on September 26. The 1.4% growth rate makes Romania one of…

After the recent openings in Pitesti, Craiova, and Buzau, Popeyes said it would expand to a fourth city in Romania outside of Bucharest. The American fried chicken brand will also open a restaurant in Ploiesti next Friday, in the food court area of the AFI Ploiesti shopping center. Popeyes launched in Romania in 2022, with…

Joining the OECD, macro-budgetary balancing, an efficient and high-performing education system, a framework for attracting investments, and the continuation of transport infrastructure projects are the strategic objectives of the 2024-2028 mandate. The next mandate is the last window of opportunity for Romania to reduce the gaps with the EU average by maximizing funding from European…