Category: Uncategorized

Romanian flight carrier Tarom has extended the suspension period for its flights to Tel Aviv, Amman, and Beirut until August 16. The company had previously announced that it was suspending flights to the three destinations for the period August 6-12, 2024, amid the deterioration of the security context in the region. Tarom has temporarily suspended…

The Court of Appeal of Malta scrapped the ruling of a lower court and issued a final decision in which it rejected the extradition of Paul of Romania. He is wanted in the country to serve a 40-month jail sentence in the case related to the illegal restitution of a large plot of land in…

The new Pension Law, to be enforced as of September 2024, will add RON 2.1 billion (EUR 420 million) to the monthly disbursements from Romania’s public pension system to the 4.7 million recipients (retired persons), Finance minister Marcel Bolos announced in a press conference on August 12. The Government began sending notifications to the recipients…

Romania’s National Anticorruption Directorate (DNA) indicted Niculae Havrileț, former head of the National Energy Regulatory Authority (ANRE) who also served as state secretary in the Ministry of Economy, for allegedly receiving improper benefits from three energy companies. According to the DNA prosecutors, concurrently and after the termination of the mandates in the two positions, Havrilet…

Monsson Group, controlled by the Romanian-Swedish businessman Emanuel Muntmark, announced plans to invest in power storage capacities of around 1,500MWh by 2030.  The total investments are estimated at over EUR 525 million. “We are developing an energy storage portfolio of 1,500 MWh at the level of 2030, with an installation target of around 200 MWh…

The shareholders of Romania’s power grid operator Transelectrica (BVB: TEL), controlled (58%) by the Government, endorsed the company’s participation in the project aimed at bringing “green and affordable” electricity from the Caspian Sea region through a 1,200-km long submarine cable that would cross the Black Sea to reach Hungary at the other end. “For Romania,…

Romania’s state-controlled Oil Terminal (BVB: OIL), the port operator in Constanta Port, received the shareholders’ approval to proceed with the bitumen terminal project developed in partnership with Swiss partner Euronova Energies. The Swiss partner will fully bear the investment costs of the project.  After the completion and commissioning of the bitumen terminal, which will remain…

The monthly average net wage in Romania rose by 13.2% y/y, or a real 7.5% y/y,  to RON 5,170 (EUR 1,040) in Q2, according to data published by the statistics office (INS). It was the third quarter in a row when the average net wage in Romania posted robust (+6%-8%) annual growth rates and the…

The “Carol Davila” University of Medicine and Pharmacy in Bucharest, or UMFCD, is set to launch a new investment project to consolidate, rehabilitate, modernize, and equip one of its student dormitories. The investment is valued at approximately EUR 4.2 million. The rector of UMF “Carol Davila,” Prof. Dr. Viorel Jinga, emphasized that while the university’s…

Fintech iBanFirst and equity and investment platform SeedBlink have partnered for a bespoke solution for fundraising startups and their investors that is meant to ensure faster onboarding and access to preferential FX rates. Traditional banking solutions often fail to meet the efficiency and customization needs of investment platforms, resulting in slower transactions, higher costs, and…