Romanian producer of concrete pavement systems Elis Pavaje announced that it is investing EUR 13 million to expand one of its five factories amid the growing demand for construction materials. The company will finance the investment from bank loans and own resources (reinvested profits). The factory is located in Stoenești, near Ploiești, and is the […]
Romania's energy market watchdog ANRE concluded that three local energy traders breached the integrity and transparency of the wholesale energy market and fined them with a total sum of RON 18 million (EUR 3.6 million) for market manipulation – specifically for pre-arranged cross sales (wash sales). The three companies were investigated as a result of […]
International rating agency Fitch announced that it assesses the Standalone Credit Profile (SCP) of Bucharest municipality at 'a', reflecting a combination of 'Midrange' risk profile and 'aa' debt sustainability. The city's IDRs are capped by the Romanian sovereign (BBB-/Stable) at BBB-, the rating agency says. Bucharest mayor Nicusor Dan saluted the rating agency's evaluation, highlighting […]
The public deficit will reach 6.4% of GDP this year compared to the 5.0%-of-GDP target, according to the Fiscal Council, which also states that the government remains under the Excessive Deficit Procedure (EDP) and, therefore, should draft a fiscal consolidation plan to accommodate the expected rise in the public pension expenditure. The Fiscal Council rejected […]
The central parking lot of Bucharest’s Băneasa Shopping City, in northern Bucharest, is set to host the 2024 Bicycle Fair, which will take place from April 19-21. Over the three...
Romania has qualified for the 2024 Billie Jean King Cup final tournament in Seville. Tennis players Ana Bogdan and Jaqueline Cristian defeated the Ukrainian representatives and secured Romania's qualification for the finals of the team competition. Romania won over Ukraine in the last match at Fernandina Beach in the United States. Ukraine will participate in a […]
