The textile industry has lost about 40,000 jobs in the last year, and the process continues as European countries are on the last few feet with preparations for implementing new European regulations on traceability starting next year, Termene.ro reports. Mihai Pasculescu, president of FEPAIUS – the Employers’ Federation of Textiles, Garments and Leather, says that in the last year, several tens of thousands of jobs have been lost, in a difficult economic context, and, unfortunately, the trend is continuing. “From 160,000 jobs a year ago, only 120,000 remain now, after having dropped from 800,000 in 1990, and the number continues to fall due to the European directive on the introduction of the QR code. This requires producers to comply with traceability standards and to use sustainable raw materials, with at least 40% being recyclable materials. Over the past year, there have been very few orders, as everyone wanted to clear out their stocks, since you cannot put a QR code on old merchandise and sell it in the European Community. What is likely to happen by the end of the year is even more dramatic,” said Mihai Pasculescu, president of FEPAIUS. In addition to this, a major blow for companies in the sector is the suspension of the export promotion program, which has made it practically impossible to participate in international trade fairs. This is particularly serious given the well-known fact that textile exports hold a significant share in Romania’s foreign trade. “In general, small firms, the subcontractors, have disappeared. Large companies that exported 100% have survived, but even they have been affected by the euro exchange rate, because the truth is we sell euros at 6 lei while the state gives us 5 lei, so I don’t think we can hold on. Profit margins are no higher than 4-5%,” Pasculescu told Termene.ro.
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
