Romania | News

The European Bank for Reconstruction and Development (EBRD), together with Eiffel Investment Group, will provide EUR24.4 million funding to INVL Renewable Energy Fund I, a fund investing in renewable energy projects, for the construction of a 60 megawatts (MW) capacity solar power plant in Romania.

Italy’s Manni Group, which owns insulating panel maker Isopan in Romania, has signed a joint venture agreement with Marcegaglia Steel for the insulating panel and sectional door panel making divisions to create a new entity set to become the second leading insulating panel manufacturer in Europe, with customers in more than 70 countries throughout the world.

Intuitive.Cloud Romania, the local subsidiary of the US company specializing in cloud engineering, wants to hire more than 100 professionals in Romania in the next 12 months, for various roles and has chosen to collaborate with recruitment firm Hays Romania to this end.

On Thursday, NATO reacted to the wreckage of a Russian-origin Shahed kamikaze drone found in Romania, saying there were no signs of a deliberate Russian attack on an Alliance member state.

Italian group UniCredit for the first half of 2024 reported net profit worth EUR184 million from Romania operations, up around 39% from the gain of H1/2024, amid rising lending and revenues.

Chip manufacturer NXP Semiconductors, which has a software development center in Romania, reported higher turnover, profit and average number of employees for the local subsidiary.

Polish clothing manufacturer LPP, which owns and operates store chains Reserved, Mohito, Cropp, Sinsay and House, is opening its second warehouse for online sales in Romania, within CTPark Bucharest West near Bucharest, in Bolintin-Deal.

Computer and electronics retailer Flanco, the second largest actor in the local sector by turnover, has relocated its headquarters to the Sky Tower office building in capital city Bucharest, the tallest building in Romania, held by Raiffeisen Property Holding International.

Garanti BBVA Leasing, part of the Garanti BBVA Group Romania, is signing a new EUR10 million loan agreement with the European Bank for Reconstruction and Development (EBRD) to support the development of SMEs in Romania.

On Saturday, 20 July, it is planned to import electricity from Romania, Slovakia, Poland and Hungary with a maximum capacity of 1,385 MW.

Marian Gheorghe is joining the EY Romania team as Director of the Business Development Department.

Household cleaning and personal care products manufacturer, importer and wholesaler Interstar Chim, whose portfolio includes the brands Igienol, Rivex and Aroxol, seeks to go beyond the RON200 million turnover mark in Romania, for the first time, expecting a 13% increase in 2024.

New car registrations increased by 13.4% to 83,505 units in Romania in January-June 2024 compared with the same period in 2023, and by 4.5% to 5,683,843 units in the European Union, ACAROM and ACEA data showed on July 18.

BAT, the largest tobacco company in Romania, is the second contributor to Romania’s state budget, with a total contribution of RON10.8 billion (EUR2.1 billion) in excise and taxes to the state budget in 2023.

Austrian transport and logistics company Gebrüder Weiss has invested nearly EUR90 million in the last 30 years to expand its infrastructure in Romania, inflation adjusted value, reaching nine large logistics centers in the cities of Bucharest, Arad, Sibiu, Cluj, Bacau, Brasov, Constanta and Craiova, and some 700 employees.

Romania’s public debt, in both lei and foreign currency, increased by RON69.3 billion to RON852.8 billion in April 2024 and to 52.1% of the GDP from 48.8% of the GDP at the end of 2023, above the maximum admitted limit, Finance Ministry data show.

Romania’s exports could overshoot the EUR100 billion mark this year, with Germany, Italy, Poland, Slovakia, Czech Republic and Hungary being the main destinations for Romanian products, shows an analysis by Moneycorp Romania.

Ukrainian President Volodymyr Zelensky and Romanian President Klaus Iohannis have signed an Agreement on Security Cooperation between Ukraine and Romania in Washington.

The total monthly average income in Romania stood at RON8,049 per household in Q1/2024, up 7.3%, representing RON3,210 per person, 7% more than in Q4/2023, data from the country’s statistics board INS show.

Romania’s goods trade deficit, namely the gap between goods exports and imports, widened in January-May 2024 by 11.1% year-on-year to EUR12.2 billion, as exports dropped by 2.9% and imports inched up, by 0.2%, data from the country's statistics board INS show.