At the budget adjustment last week, government cut down the ICR this year’s budget of 43 M RON by 14.5 M de RON, with goods and services – RON 13.5 M – personnel expenditures - RON 1 M – and travel expenses – RON 47,000 - where the bulk of the cuts were made. The [...]
The first poll after Romania’s ruling coalition changed its strategy and came up with separate candidates shows that Bucharest opposition mayor Nicusor Dan (United Right Alliance - ADU) is expected to get another term. The poll was carried out by Avangarde for the Social Democratic Party (PSD). PSD and PNL on April 22/23 abandoned the […]
The Cyprus-based Starlock Limited plans to invest EUR 1 million in Romania to open a franchise chain of 15 convenience stores by the end of this year under the brand Good2Go. The investor aims to develop a national network of 200 stores in the next 5 years. It targets a turnover of EUR 37 million […]
Both the current situation and the outlook for the 12-month horizon have deteriorated, according to a survey conducted by the German-Romanian Chamber of Commerce and Industry (AHK). However, a high share of the companies surveyed plan to increase employment and investments, while 88% would still choose Romania as a destination for investments. Only 33% of […]
The Cluj Court of Appeal permanently canceled the environmental permit for the Rovina gold project operated by Euro Sun Mining of Canada on the grounds that the license lacks important chapters and experts not certified were found among the signatories. Several NGOs spotted failures in the evaluation of the assessment of the environmental impact and […]
The European Commission (EC) approved on April 29 the restructuring plan for the Romanian flag carrier Tarom, in a total amount of EUR 95 million now, updated by Romania in line with the Commission recommendations. Under the plan, Tarom will be written off the state aid received in 2020 and will get funds to renew its […]
Premier Energy, a supplier and distributor of natural gas in Romania owned by Jiří Šmejc’s Emma Capital, announced it took over from Iberdrola an 80MW wind farm for the price of EUR 88 million. The transaction is expected to be completed in the summer of 2024, subject to standard regulatory approvals, including the approval of […]
