Romania Feed

Romania's current account balance posted a deficit of EUR9.763 billion in January-November, compared with a deficit of EUR9.655 billion in the same period in 2019, central bank data showed Wednesday.

Real estate developer Iulius Group is developing a new retail concept, Family Market, and will invest EUR16 million for two such projects in the city of Iasi and Miroslava, a neighboring township.

Romania's finance ministry has drafted an emergency decree extending a nine-month moratorium on bank loan repayments for debtors affected by the pandemic, after the previous moratorium expired at the end of 2020.

Valentin Tataru has been appointed chief-economist of ING Bank Romania, the bank announced Wednesday.

The British School of Bucharest announces that Mr. Philip Walters will be moving forward from the position of Headmaster at the end of this academic year. As Head of the Advisory Committee, Mr. Walters will continue to offer invaluable insights towards the continued development of the BSB community as they strive for continued success. With […]

Ten years after its establishment in Romania, Societe Generale European Business Services (Societe Generale EBS) becomes Societe Generale Global Solution Centre. ‘European Business Services’ was more than a name; it was a statement of the company’s positioning as a valuable partner for Societe Generale Group in its European operations and a vote of trust for […]

The European Commission approved on January 12 the sale of TeraSteel and Wetterbest to Kingspan Group, TeraPlast Group announced Wednesday.

Gothaer Adds Household Goods Insurance to Its Travel InsuranceGothaer Asigurari Reasigurari, the local subsidiary of the German insurance group Gothaer, announced it was adding a household goods insurance clause to its travel insurance product.

Globalworth, the leading office investor in Central and Eastern Europe (CEE), announces the appointment of Marian V. Popa as managing director for Romania starting March 1, 2021.

The foreign exchange market in Romania was animated in 2020 and registered an average daily transaction volume of EUR1.47 billion, 10.2% lower than in 2019, central bank data showed.

Romanian nuclear power plant operator Nuclearelectrica will shut down nuclear reactor 1 at the power plant in Cernavoda on Friday to Saturday night ( January 15-16, 2021) for repairs.

Romania will postpone yet again setting a calendar for euro adoption as the country doesn't meet convergence criteria and faces heightened macroeconomic imbalances due to the pandemic, the finance ministry said in a letter to parliament at the end of 2019.

The average net salary in Romania grew 2% in nominal terms and 1.9% in real terms in November 2020 compared with October 2020, to 3,411 lei (around EUR700), data from the country's statistics board showed Wednesday.

The household saving rate reached on average 16.9% (a record high) between January and September 2020, higher by 2.3 percentage points compared with the average recorded in 2019, stated Andrei Radulescu, macroeconomic analysis director with Banca Transilvania.

Romanian carmaker Dacia, owned by France's Renault, saw its market share on the local market growing to 32.4% at the end of 2020, compared with 30% at the end of 2019, the company said Tuesday.

Car production in Romania reached 438,107 units in 2020, 10.67% fewer than 490,412 units in 2019, data from Romania’s carmakers association ACAROM showed Tuesday.

European industrial real estate developer CTP is expanding its industrial park north of the Serbian capital, CTPark Belgrade North, following the purchase of a 28,500 m2 warehouse and adjacent land for further development from Austrian-based real estate developer Eyemaxx. As a result, the overall capacity of CTPark Belgrade North now stands at 50,000 m2, with the landbank enabling […]

Metropolitan Life, one of the most important players on the life insurances and private pensions market in Romania, together with the Children’s Forest Association, announces the planting of a forest on two hectares, one for each individual policy signed in 2020. The trees were planted in Gârbovi and Colelia from Ialomița County.   „The partnership with […]

The Romanian mergers and acquisitions (M&A) market recorded 91 transactions in 2020, compared to 110, in 2019. According to Deloitte estimations, the total market value, including the transactions with undisclosed values, was of 3.7-4.3 billion euros in 2020 (compared to 4-4.4 billion euros in 2019), while  transactions with disclosed value totalled 1.5 billion euros (compared […]

The global economy is projected to grow in 2021 by around 5%, the fastest rate recorded in the 21st century, returning the global economy in aggregate to pre- pandemic levels of output by the end of 2021 or early 2022, according to PwC Global Economic Watch 2021.   While the global economy is likely to […]