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The number of children left in the care of relatives or in special protection systems due to their parents working abroad has significantly decreased over the past year in Romania, according to public data quoted in an analysis by ParentED. This trend may indicate an improvement in domestic economic conditions, but the issue remains a…

History is being made in the world of Romanian golf! The first edition of the Romanian Open Championship, presented by DP World, is here to bring a fresh perspective and put Romania on the map of international golf. Inspired by the legendary Ben Hogan quote, “The most important shot in golf is the next one,”…

Romanian president Klaus Iohannis addressed the 79th session of the United Nations General Assembly on Wednesday, September 25, highlighting several global challenges and Romania’s role on the international stage. Iohannis began by stressing that Romania will always uphold the international world order, with the UN at its core. He also spoke of peace, the goal…

Romania and the United States signed Wednesday, September 25, a direct loan agreement worth USD 920 million through the Foreign Military Financing (FMF). Romania can access this funding to strengthen its defense capacity by providing modern equipment to the Army or developing the local defense industry, the government said. Prime minister Marcel Ciolacu participated in…

Romania was given a “social portfolio” with a still unclear definition instead of an economic portfolio, president Klaus Iohannis stated, pointing to prime minister Marcel Ciolacu as the one responsible for the negotiations held with the European Commission on the matter. The statement marks the gradual deterioration of the relationship between president Iohannis’ Liberal Party…

Romanian president Klaus Iohannis and his wife, Carmen, should return to the state two buildings and the money collected from the rents, some EUR 260,000, according to Digi24 quoting the final ruling of the High Court (ICCJ) issued on September 25 in a dispute regarding the right of inheritance over one of the buildings. Specifically,…

Schaeffler Romania, the local subsidiary of the German Schaeffler group, plans to implement several cost reduction solutions in the immediate period, as the automotive industry is in a dire situation, and the solutions involve the Romanian subsidiary. The company confirmed it sent at least part of its employees of the Romanian subsidiary home in technical…

Swedish investment company Oresa Ventures and the Romanian entrepreneur Cristian Amza are reportedly negotiating the sale of the water bottling/watercooler company La Fântâna, according to Ziarul Financiar quoting sources familiar with the talks. A strategic investor is reportedly ready to pay EUR 150 mln. Both Oresa Ventures, which holds over 80% of the shares, and the company’s founder,…

A multidisciplinary festival, an outdoor opera event, and many film festivals are on the agenda in Bucharest, while Sibiu hosts a music festival dedicated to local artists and Oradea the local edition of TIFF. In Bucharest:  Unfinished September 27- September 29 The festival brings together artists, authors, athletes, urban planners, entrepreneurs, landscapers and many other…

Romania’s leading financial group, Banca Transilvania (BVB: TLV), has issued EUR 600 mln of FX bonds with a maturity of six (6) years on the international market in an unannounced operation on September 25, according to Bloomberg and Profit.ro. The demand was nearly quadruple (EUR 2.3 bln).  The issue’s arrangers are ING, JP Morgan, Morgan Stanley,…