The IFC Capitalization Fund, a fund managed by IFC Asset Management Company, is investing USD 40 million in Banca Transilvania (BT), the third largest bank by assets in Romania. The subordinated loan will strengthen BT’s capital base and support the growth of a systemically important bank in the region focused on small and medium enterprises [...]
Hungarian low-cost carrier Wizz Air has announced plans to expand its Bucharest base with the addition of an Airbus A321neo aircraft in the summer of 2025, bringing the total to 19 aircraft stationed at Otopeni Airport. The airline also unveiled a new route to Chișinău and increased frequencies on 11 routes from the Romanian capital. […]
The head of Romania’s executive, Marcel Ciolacu, was welcomed by British counterpart Keir Starmer on Wednesday, November 13, in London. The officials talked and announced that they have decided to enhance economic cooperation and the defense partnership. The visit was the first that a Romanian prime minister conducted in the United Kingdom in more than […]
Romania’s Labour Ministry published on November 13 the draft bill for updating the minimum statutory wage on an annual basis, by indexation with a coefficient that includes inflation and labour productivity gain, Cursdeguvernare.ro reported. In case the result is lower than 52% of the projected average wage...
The notifications requested from Ukraine and Moldova failed to confirm that nationalist leader George Simion (AUR) would be a Russian spy or would be in contact with Russian intelligence officers, Romanian prime minister Marcel Ciolacu stated in response to inquiries expressed by his rivals in the presidential elections, Nicolae Ciuca (Liberal Party, PNL) and Mircea […]
Romania's Senate has approved a USD 6 billion bill to purchase 32 F-35 fighter jets, engines, ammunition, and logistical support, securing 76 votes in favour. This final parliamentary approval advances the bill to president Klaus Iohannis for promulgation unless contested at the Constitutional Court. Under the terms, the aircraft delivery is expected by 2031, with […]
Romania's state-controlled Oil Terminal (BVB: OIL), managed by the Ministry of Energy, reported a net profit of RON 45.26 mln (EUR 9.05 mln), a 91% increase year-on-year, for the first nine months of 2024, according to revised financial results published on the Bucharest Stock Exchange. Total revenues rose by 35% y/y to RON 354 mln […]
