Rents have risen rapidly in recent years across Europe, but the highest increases were in Bucharest and Cluj, according to the Social Monitor, a project of Friedrich Ebert Stiftung Romania.
In Cluj, rents in 2023 were 80% higher than in 2015, while in Bucharest the increase for the same period was 51%. Among the cities included in this study, only Berlin and Athens saw greater increases in the average rental prices for one-bedroom apartments, according to data from price aggregator database...
Tunnelling machines completed the first tunnel segment between the future Tokyo and Băneasa Airport subway stations on Tuesday, August 19. The segment is part of the line connecting central Bucharest to its main airports - Băneasa and further on to Otopeni - in the north of the city. Romanian transport minister Ciprian Șerban, who visited the […]
RetuRO, the operator of Romania’s Deposit-Return System - SGR, has launched a pilot project in two of the capital’s parks that lets people leave their bottles, PET containers, and cans in special compartments attached to public trash bins so others can collect them and reclaim the deposit. The initiative, now in place in Kiseleff and […]
UniCredit announced that it finalized the merger of its Romanian subsidiary with Alpha Bank Romania, creating one of the largest financial institutions in the country and marking a new milestone in the group's growth strategy. The newly combined bank has 11% market share in assets, 13% in loans (UniCredit Consumer...
Romania's largest ruling party, the Social Democratic Party (PSD), broadly agrees with the reforms proposed by prime minister Ilie Bolojan (Liberal Party PNL), although there are some details still to be tackled, PSD interim president Sorin Grindeanu said after the party leadership's weekly meeting of August 18,
Romanian retail chain Annabella, developed by local entrepreneurs, took over 82 Profi stores and 5 Mega Image stores in a deal aimed at facilitating the expansion of the Mega Image retail chain that took over Profi from MidEuropa Partners for EUR 1.3 billion, Profit.ro...
The new tax on shifted profit proposed by the government is significantly impacting the attractiveness of Romania as a destination for foreign investments, and it is far more restrictive than the similar regulation in Poland, mentioned by the authorities as a source of inspiration, according to a report drafted by PwC. The consultancy firm salutes […]
