The first Romanian state-owned insurance company with a focus on individual customers should be launched as soon as possible, probably this spring, according to finance minister Adrian Caciu. According to sources familiar with the developments quoted by Economica.net, the initial capitalisation, some EUR 20-25 mln, will come from CEC Bank or a loan extended by Eximbank - the other state-owned bank. The insurer will offer a broad range of products for households, including third-party liability car insurance and home or property insurance. Designed by the Financial Supervisory Authority (ASF) together with CEC Bank, adopted and developed by the bank and promoted to all levels of Authority after the new leadership came into office in the summer of 2020, the project is now at the Ministry of Public Finance (MFP), which will he had the last word. Notably, there is already a state-owned insurer on the market, Eximasig, controlled by Eximbank, but the company focuses on companies, particularly those involved in foreign trade.
The Atlantic Council will honor Romanian president Klaus Iohannis with the Distinguished International Leadership Award for his remarkable career, exemplary leadership of Romania, and his transatlantic and European leadership role. The Atlantic Council’s Distinguished Leadership Awards are often referred to by media as “the Washington Oscars.” Among the honorees are a European head of state, […]
The colorful rapeseed fields in the southern part of Romania have been photographed by NASA from a satellite and featured in an accompanying article titled “Golden Fields in Romania.” The spectacular images were taken last month above the area where the Olt River intersects with the Danube. According to the article, NASA personnel were impressed […]
UiPath, an AI-based company founded by Romanian entrepreneurs and listed on the New York Stock Exchange in 2021, has recruited Raghu Malpani as Chief Technology Officer. Malpani, who was Corporate Vice President at Microsoft for the Microsoft 365 Application and Data Platform will report to the Director of Innovation and the Executive President of UiPath, […]
Production and new orders rise after nine straight months of decline Business confidence picks up, while hiring is back on the agenda Cost inflation eases and selling prices rise only fractionally An improvement in the health of the Romanian manufacturing sector was signalled for the first time in the survey's history, according to the latest […]
Raiffeisen Bank Romania continues its growth strategy in personal financial planning, up 50% in the first quarter of the year in the segment of investment plans, voluntary pensions and life insurance with a savings component. At the same time, it continued to support SMEs and accelerated investments to launch new functionalities in the mobile banking […]
Road crews have begun snow removal on Romania’s spectacular mountain road known as Transfăgărășan. Since there is less snow than in other years, the road could be opened much earlier than the usual date of July 1, according to authorities. Transfăgărășan, Romania’s second-highest road after Transalpina, is being cleared of snow so it can be […]
