National airline company TAROM announced on Tuesday having fulfilled a new milestone in its Restructuring Plan, after recently finalizing the contract for the sale of its 50% stake in Romanian Fueling Services S.R.L. to Air British Petroleum, the air operator said in a release.Along with the decision to grant state aid to the flagship air carrier, the Romanian authorities also undertook to sell TAROM's stakes in companies where it holds majority control (over 50%) or negative control (50%) and which are not part of TAROM's main activity (passenger and cargo air transport operations), so that the national air transport company narrows its presence in the market so as to not affect or restrict domestic competition. These steps should have been completed starting with the end of 2024, but no later than the end of the restructuring period, namely 2026.One of the companies targeted by this commitment is Romanian Fueling Services S.R.L., whose share capital was held 50-50 by TAROM and Air British Petroleum.On March 26 this year, the sale agreement was signed and the transaction was recently finalized following the final approval by the competent authorities, TAROM informed."Over the years, the fact that we had Air BP, one of the world's largest aviation fuel suppliers, as our partner, has been a factor of balance and stability. We are delighted that we have jointly managed to complete an important transaction," said TAROM CEO Costin Iordache
Thailand is quite a popular destination in Southeast Asia. It is renowned for its stunning beaches, ancient temples, and friendly locals. However, behind the smiles lies a culture rooted in tradition, respect, and subtle social rules. While most people are friendly and forgiving of mistakes, it's still essential for visitors to understand basic etiquette. A […]
The ratio between the market capitalization of companies listed on the Bucharest Stock Exchange and Romania’s GDP was 20.7% as of December 31, 2024, below the levels recorded in other regional markets, such as Greece (43.7%), Croatia (33.8%), and Hungary (21%). The figure can be disappointing as Romania’s BVB has significantly more listed companies (346) […]
OVES Enterprise, a Romanian software development company based in Cluj-Napoca, announced an expansion to the United States market through a strategic partnership with Adler Aerospace. The company will be developing large military drones based on the company’s artificial intelligence solution, Nemesis AI. The agreement provides for the integration of the Nemesis AI platform into the […]
Homeowners in Bucharest are finding buyers for their apartments faster than anywhere else in Romania, while sellers in Cluj-Napoca face the longest waits, according to a new real estate market report published by Imobiliare.ro and quoted by Agerpres. The study, titled Market 360: Residential...
Work has begun on restoring the alleys in Bucharest’s Herăstrău Park, as some were severely affected by the collapse of the bank and were facing a real risk of falling. The restorations will be complete in 2026. Herăstrău Park is nearly 100 years old and has been worn down by weather events and other phenomena. […]
Romania has awarded a record 4.2 GW of renewable energy capacity across two Contracts for Difference (CfD) auctions, exceeding its 3.5 GW target under the national Recovery and Resilience Plan, the European Bank for Reconstruction and Development announced. The second auction, held in August 2025 and backed by the EBRD, allocated...
