Romania's black cigarette market stood at 8.3 percent of the total consumption this September, in line with the previous months, but higher compared to the 2022 average of 7.1 percent, shows a survey by Novel Research."In September 2023, the black market remains steady in almost all the regions of the country. Among the new elements worth mentioning for September's survey is the inclusion of Bulgaria among the main sources of smuggled tobacco products. With a share of 16.8 percent and an upward trend in the last year, Bulgaria is third in place as regards smuggled tobacco products, after duty-free outlets and cheap whites. Also, the survey carried out in the last months no longer identified cigarettes smuggled from Ukraine. There is a downward trend in the share of products from Moldova (7.6 percent), while Serbia is constant," said Novel Research managing partner Marian Marcu in a press release on Wednesday.Citing data on the platform StopContrabanda.ro, BAT Legal and External Affairs Director for South-East Europe Ileana Dumitru said that year-to-date, the Romanian authorities have captured about 105 million contraband cigarettes, more than double the amount in the same period last year.Head of the Romanian Customs Authority Ion Cupa said that 10 million illegal cigarettes were discovered in a recent raid carried out in the counties of Suceava and Teleorman, during which customs inspectors provided specialist assistance alongside representatives of the Directorate for the Investigation of Organized Crime and Terrorism, the Organized Crime Directorate, the Directorate for the Investigation of Economic Crimes, and the Border Police General Inspectorate.In 2022, tobacco companies funnelled about 20 billion RON to the state budget in excise duties, VAT and other taxes and contributions.
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of […]
JTI Romania is the Top Employer for the 12th year in a row, being ranked third amongst 44 companies locally awarded, after an assessment conducted by the Top Employers Institute. The company was rated for about 20 criteria such as leadership, talent acquisition, on-boarding, digital HR, work environment, career development, learning, ethics & integrity, diversity, […]
Romanian defense minister Angel Tîlvăr stated that the contract for the Patriot system, which will replace the one ceded by Romania to Ukraine, is expected to be signed in February. The minister commended the decision of the United State government to approve the delivery of three Patriot systems to Romania. Raytheon stated it will collaborate […]
Romanian companies are entering 2025 with cautious optimism, focusing on managing risks and controlling costs, according to the Deloitte 2025 Romania CFO Survey conducted at the end of last year among approximately 130 Chief Financial Officers (CFOs). Most of the Romanian CFOs predict an increase in revenues for this year (58%), but their share has […]
Several employees of the Romanian Senate began protesting and booing while the president of the upper Chamber was announcing that staff restructuring would be implemented to reduce public spending. Ilie Bolojan, president of the National Liberal Party and head of the Senate, announced a reduction in the organizational chart from 796 positions to 618 positions. […]
The members of the Romanian angel investor network TechAngels put EUR 2.757 million in direct investments in tech startups in the second half of 2024, almost triple the amount invested in the year's first half. The investments for the entire 2024 rose to EUR 3.777 million, a 25% year-on-year increase. The rounds backed by TechAngels […]
