The outgoing President Klaus Iohannis ends his term at the Cotroceni Palace, with the interim position to be taken over by the President of the Senate, Ilie Bolojan, on Wednesday.The ceremony to end Iohannis' term will take place on Wednesday, at 12:00, at the Cotroceni Palace, according to the Presidential Administration.Klaus Iohannis resigned from office on Monday, in the context in which the Parliament had initiated the procedure to suspend him from his position as head of state. He claimed that the suspension procedure would lead Romania into crisis and ''absolutely no one will understand what the point of such an approach is, when the incumbent president will leave anyway''. "In other words, we will effectively be the laughing stock of the world," Klaus Iohannis said on Monday when announcing his resignation."In order to spare Romania and Romanian citizens from this crisis, from this unnecessary and negative development, I am resigning from the position of President of Romania. I will leave office (...) on February 12th. God bless Romania!", Iohannis said.The Constitutional Court (CCR) on Tuesday found the position of president of Romania vacant and ruled that Ilie Bolojan, president of the Senate, would take over the interim position at Cotroceni Palace from February 12.Klaus Iohannis was elected head of state for two terms. His last term was supposed to end on December 21, 2024, but the Constitutional Court annulled the presidential elections and decided that Iohannis would remain at Cotroceni until a new president is elected. The CCR's decision came after the Supreme Council for Country's Defense (CSAT) declassified intelligence received from the Romanian Intelligence Service (SRI), Foreign Intelligence Service (SIE) and the Ministry of Internal Affairs regarding the electoral campaign conducted by Calin Georgescu in the presidential elections.Ilie Bolojan is to take over the interim position at Cotroceni Palace until May. The first round of the presidential elections will be held on May 4, and the second on May 18. Bolojan will be suspended from the position of National Liberal Party's president.
Romanians are worse off now compared to 6 months ago, and 2026 will also be difficult, but from 2027 and then on, there is hope, said president Nicusor Dan during an interview with Romania TV. The government targets a deficit of 8.4% of GDP this year, marginally below 8.65% of GDP in 2024. To tackle […]
Imran Vilcassim, Chief Commercial Officer, Digital Platforms at BPC, explores how Romania’s booming digital payments outpace merchant readiness and why mobile POS is emerging as the practical solution. Romania’s digital payments volumes are rising fast, but merchant infrastructure isn’t keeping up. Independent market models estimate total digital payments will reach nearly
The attributes needed to reach the top of the business hierarchy, how to motivate and support the teams one works with, and how to tackle the unavoidable challenges that arise along the way were among the topics discussed at the event Inspiring Women in Business, organized by La French Tech Bucharest. Making it to a […]
More than half of the elderly people in urban areas in Romania face loneliness, and almost 310,000 of them experience it at a high level, according to a study conducted by the Association Never Alone, Friends of the Elderly, in partnership with Kantar Romania. The study, carried out in August 2025 on a representative sample […]
Square 7, part of retail park investor M Core, officially inaugurated its new Bucharest office last week, marking an important milestone for the company. More than 150 guests joined the event, including partners, collaborators, and team members. M Core is a family of property investment and management companies comprising LCP, Sheet Anchor, Proudreed, and Sheet […]
Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division - Hagag Energy - and announced plans to invest more than EUR 400 […]
