The U.S. Department of Defense has awarded a $946 million contract to arms company Raytheon Technologies (RTX) to supply Romania with additional Patriot air defense systems, The Defense Post reported Friday. The contract is set to expire on December 31, 2029. The military website notes that the deal will mark the third delivery of Patriot systems to Romania by the U.S., following previous purchases in 2017 and 2020. The new contract awarded by the Pentagon to Raytheon Technologies, one of the world’s largest arms companies, will cover firing units, which include advanced radars, control stations and interceptor missiles. In a statement sent to The Defense Post, RTX Vice President for Global Patriot Pete Bata emphasized that the new contract will allow the NATO country to better protect its citizens and critical infrastructure amid escalating threats in the region. He described Romania’s continued investment in the Patriot as a “testament to the nation’s dedication to ensuring collective security, deterrence, and stability across Europe.” “[RTX] is committed to providing Romania with advanced integrated air and missile defense capabilities,” he added. RTX said it will collaborate with local defense companies to ensure a seamless supply chain for the Romanian Patriots. Raytheon also said it will work with local arms companies to ensure an adequate supply chain for Patriot systems destined for Romania. “Patriot is the basis of air defense for 19 countries, and the system continues to demonstrate its effectiveness against advanced air threats and massive complex attacks,” Raytheon Technologies said. The announcement regarding the award of the contract was published on the website of the Department of Defense in Washington, which notes that the deadline for its completion is December 31, 2029. (Photo:https://www.rtx.com/raytheon/what-we-do/integrated-air-and-missile-defense/global-patriot-solutions)
Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project. A young person will be able to establish or acquire […]
Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]
This year's edition of the George Enescu International Festival, the largest classical music event in the country, will feature performances from some of the top sopranos and mezzo-sopranos of the moment. Among them are Asmik Grigorian, Sonya Yoncheva, Kristine Opolais, Magdalena Kožená, Julia Lezhneva, Sarah Aristidou, Jennifer Holloway, Aylin Perez, Elsa Dreisig, Rachel Willis-Sørensen, Ruxandra […]
Globinvest, an asset management company from Cluj-Napoca, is set to launch an exchange-traded fund, or ETF, grouping together companies in the energy sector and several financial companies. Globinvest, a company with 30 years of experience on the Romanian capital market, will list the new entity on April 28 under the symbol GIBEFETF. Ilie Cenan, Chairman […]
Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD […]
The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes. Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]
