The number of commercial companies and authorized individuals (PFA) that have become insolvent in the first six months of this year was 3,684, up 8.32% compared to the similar period in 2023, when 3,401 insolvencies were registered, according to data published on the website of the National Companies Registry (ONRC).Most of the firms and PFAs that went into insolvency between January 1 and June 30, 2024, were registered in Bucharest, respectively 683, a number down by 2.43% compared to the first six months of 2023.Bihor county, with 309 insolvencies (plus 17.49%), Cluj - 266 (plus 37.82%), Timis - 195 (plus 27.45%), Iasi - 158 (plus 5.33%) and Ilfov - 141 (plus 17.5%).The fewest insolvencies were recorded in Harghita - 12 (minus 20%), Mehedinti - 15 (minus 28.57%), Vaslui - 14 (minus 36.36%) and Covasna - 19 (plus 46.15%).By sector of activity, the highest number of insolvencies was registered in wholesale trade, retail, repair of motor vehicles and motorcycles - 933 (plus 1.57% compared to the first six months of 2023), construction - 761 (plus 12.08%) and manufacturing - 432 (plus 12.21%).In June 2024, there were 593 insolvencies, most in Bucharest (109), Bihor (52), Cluj (51) and Prahova (33).
Profluo, a startup that automates a company's financial processes using AI, has attracted investment from corporate venture capital fund BCR Seed Starter, Inspire Capital, and other investors in a EUR 850,000 funding round. BCR Seed Starter, which led the round, invested EUR 500,000 in Profluo. The funding will support the company's plans to scale its […]
CTP, a leading developer, owner, and manager of industrial and logistics properties, said that it delivered a new 65,000 sqm e-commerce fulfilment centre for LPP Logistics in CTPark Bucharest West. Construction of the building in the Bolintin-Deal area began in March 2025 and was completed in about half a year. According to CTP, “it stands […]
London’s New Bond Street has been crowned the world’s priciest retail destination for the first time, while Bucharest’s Calea Victoriei is in 39th place globally, according to Cushman & Wakefield’s latest Main Streets Across the World report. Rents in Calea Victoriei recorded the 3rd highest growth among the 50 analysed markets worldwide. Calea Victoriei, the […]
The European Commission announced earlier this week that it has selected four electrification projects developed by Romanian companies to receive funding of EUR 29.33 million from the Connecting Europe Facility fund. The CEF funding round involves a total of over EUR 600 million in EU grants, which will support...
Romania has won the international competition for a judge position at the UN Dispute Tribunal (or UNDT), with judge Adina Elvira-Ghiţă set to take over a seven-year term, according to the Ministry of Foreign Affairs (MAE). Romania secured 109 votes in the UN General Assembly during the international competition for filling a judge position at […]
The Defense Ministry said early Wednesday, November 19, that its Air Force detected a drone entering national airspace overnight, prompting the scramble of German and Romanian fighter jets amid ongoing Russian attacks near Romania’s border with Ukraine. Two German Eurofighter Typhoon jets stationed at the Mihail Kogălniceanu Air Base took off at 00:25 on November […]
