Romania Insider News

Six Romanian beaches from the seaside resorts of Mamaia, Năvodari, Eforie, and Olimp have been awarded the quality Blue Flag status for the 2022 season, one more than the year before. According to the Romanian Ministry of Tourism, the six beaches are Vega Vintage in Mamaia, Marina Regia and Phoenicia in Năvodari, Citadel and Azur in Eforie, and Phoenicia Blue View in Olimp. "By ensuring the continuity of this voluntary program, Romania is visible and present every year on the… Read more »

For the second time in a row this school in Romania, offering the British Curriculum, has been awarded the rating of ‘Excellent’ in all categories by the UK Independent Schools Inspectorate (ISI). The British School of Bucharest (BSB) received the highest assessments for both ‘the quality of pupils’ learning and achievement’ alongside ‘the quality of pupils’ personal development’. The British School of Bucharest’s recipe for success The last few years have been an extraordinary challenge for the education system around… Read more »

A total of 1,562 18-year-olds from Romania have been selected to receive free travel passes in the first round of the DiscoverEU action within the Erasmus+ program. Since the launch of the program in 2018, over 6,500 young Romanians have been selected to receive free tickets to travel around Europe, the European Commission's Representation in Romania said. At the European level, 35,000 18-year-olds have been selected to receive travel passes in the April application round. The registration round ended on… Read more »

The number of foreign contributors to the Spanish social security system increased by 55,689 in April, for the fourth consecutive month, to 2.35 million people - an all-time high. Spain exceeded the threshold of 20 million taxpayers for the first time, on average, in April. Out of the total number of foreign affiliates, 828,034 are from European Union countries (35.2%) and 1,526,480 from other countries. More than half, 1.31 million (55.9%), are men. Over the last 12 months, the average… Read more »

A court in Sofia postponed for June 8 its final ruling in the case of the extradition request submitted by the Romanian authorities for former minister Elena Udrea, expected to serve six years in jail for bribe-taking. Elena Udrea will remain in custody in Bulgaria until the judges' ruling. The court in Sofia ruled on April 19 that the former Romanian minister could be extradited, accepting the request of the Romanian authorities. However, the decision was challenged by Udrea, who… Read more »

The temporary facility for waiving the taxes and social security contribution for the voluntary increase of the minimum wage by RON 200 was approved, Government spokesperson Dan Carbunaru announced at the end of the May 18 meeting of the Executive. In essence, the bill aims to allow employers who pay the minimum gross statutory wage (RON 2,550) to add RON 200 to the monthly salary, with no supplementary income tax and social security contributions added to what they already pay… Read more »

Toronto Stock Exchange-listed company Leading Edge Materials, which specializes in the exploitation of rare minerals and metals, received an exploration license from the National Agency for Mineral Resources (ANRM) for a deposit of polymetallic ore and molybdenum in Bihor County. The company owns in Sweden one of the largest graphite mines in the world. The perimeter of the license covers an area of ​​25 square kilometres in the Apuseni Mountains, approximately 90 km southeast of Oradea, according to Profit.ro. The… Read more »

Romanian construction materials group TeraPlast Group announced that it received a state grant worth 50% of the eligible expenditures related to the construction of a stretch film production unit estimated to cost EUR 11.2 mln. The construction of the new factory will start this year. The facility will have two production lines for polyethylene films for industrial use, which represents a capacity of over 14,000 tonnes per year. At maturity, the investment will generate a turnover of EUR 28 mln… Read more »

Grain prices remain at very high levels on foreign markets compared to the historical averages, and if the Romanian crops are comparable to last year's ones, the farmers' revenues could be almost EUR 2 bln higher this year, according to Claudiu Cazacu, Strategic Consulting at XTB Romania, quoted by Ziarul Financiar daily. "In Romania, the preliminary signs for the harvest are relatively good, especially with recent developments, and a volume close to that of the previous year is expected. At… Read more »

The Romanian Chamber of Deputies, as the decision-making body, endorsed on Wednesday, May 18, the amendments to the Offshore Law that were expected for years to unlock the several investment projects in various development stages in the country's Black Sea perimeters. "With this law, production can basically begin in the Black Sea," energy minister Virgil Popescu told lawmakers. "It brings stability, predictability, and a friendly fiscal system." The bill was endorsed with 248 votes against 34 and was submitted for… Read more »

The Government of Romania has tapped the international market for the third time this year by selling USD 1.75 bln bonds with maturities of 5.5 years and 12 years on May 18. Thus, it sold USD 1 bln of 5.5-year bonds and USD 750 mln of 12-year bonds. "Because local banks are close to reaching their limits for lending to state, the pressure is now shifting to foreign markets," an analyst was quoted by Ziarul Financiar daily as saying, commenting… Read more »

Romania will enforce a law prohibiting teachers from privately tutoring students from their in-school classes as early as the coming school year. The authorities thus plan to curb a widespread phenomenon that has only grown since the start of the COVID-19 pandemic. Minister of education Sorin Cîmpeanu recently announced that the ban will be imposed by means of a new legislative package to be adopted as part of the “Educated Romania” program. He added that the teachers who do not… Read more »

Russian intelligence agencies are behind the recent uptick in cyber-attacks against Romania, said Anton Rog, the head of the Cyberint National Center within the Romanian Intelligence Service (SRI), at the BCR Expert Hub cyber security conference.  “We had technical data which showed that two actors [Russian intelligence agencies] were present here: the FSB (Federal Security Service, successor to the KGB, Russia’s security and intelligence service e.n.) and the GRU (the Russian army intelligence agency - e.n.),” said Rog, quoted by… Read more »

After a break of three years, Romanian Science Festival returns to Timisoara this week. The third edition of the event will take place between May 19-21 and is the most extensive so far. The festival’s primary purpose is to support alternative education in Romania by involving the academic diaspora. The list of mentors to be present in Timisoara includes Vlad Arimia, Neuroscience, University College London (United Kingdom); Iuliana Bledea, Neuroscience, University College London (UK); Rares Bisag, Engineering, Polytechnic University (Bucharest);… Read more »

Cluj County Council announced on May 17 that the tender for the construction of an Integrated Transplant Center in Cluj would be launched this month. The investment is estimated at EUR 200 million. According to the local authorities, this is a unique project in Romania and Southeast Europe. "In the beginning, the costs of the actual construction of the only Integrated Transplant Center in the country and Southeast Europe will be covered by the County Council's budget, which will then… Read more »

Have you already heard what happens on the second floor of Veranda Mall? CINEMAX, the newest cinema in Bucharest, and Dan Badea (a well-known Romanian stand-up comedian) are welcoming everybody to enjoy the maximum movie experience, combined with a delicious offer of popcorn 1+1 free. Movie lovers can jump into Dan Badea’s movie world, where they can enjoy the campaign between the 16th of May and the 15th of June, applied to all popcorn or popcorn menus ordered. There is… Read more »

The Traian Vuia International Airport of Timisoara, western Romania, will have a new passenger terminal for international departures. The design and construction contract was signed on May 17, and the Romanian builder must complete the works by December 31, 2023, transport minister Sorin Grindeanu said.  The contract has a value of RON 88.99 million (some EUR 18 million), excluding VAT, and was awarded to the builder SC Concelex SRL from Bucharest. The investment is covered with non-reimbursable funds from the… Read more »

The Allied battle group in Romania is active in Constanţa for now, but in June, its "centre of gravity" will be moved to Cincu, in the central part of the country, according to col. Vincent Minguet, the commander of the tactical group of NATO's advanced presence in Romania. Cincu is located in the center of the country, in Brașov County - at approximately equal distances from important cities such as Sibiu, Brașov, Târgu Mureș, Sfântu Gheorghe and Miercurea Ciu. "We… Read more »

Former mayor of Bucharest, Sorin Oprescu, recently sent to jail for nearly eleven years under a final ruling, was detained by the Greek police, the Romanian authorities announced, G4media.ro reported.  He reportedly left the country a couple of weeks ago since he was not subject to any restrictions. An international warrant was issued on his name after the final sentence was given on May 13.  The Bucharest Court of Appeal sentenced Sorin Oprescu, 71, to 10 years and 8 months… Read more »

Promateris (BVB: PPL), a Romanian industrial group and leader in Central and Eastern Europe in the production of biodegradable and compostable packaging, reported consolidated revenues of RON 42.7 mln (EUR 8.6 mln) in the first three months of 2022, 22% more compared to the same period of the previous year. It also reported RON 4.6 mln (EUR 0.92 mln) EBITDA and RON 1.2 mln (EUR 0.24 mln) net profit. "The results for the first three months of 2022 are positive,… Read more »

Romanian BVB-listed company Alro Slatina (BVB: ALR), one of the largest vertically integrated aluminium producers in Europe and the largest consumer of electricity in Romania, said its losses narrowed to RON 18 mln (EUR 3.6 mln) in Q1, from RON 62 mln in the same period last year, according to data from the financial report published on the Stock Exchange. The company explained that the sales could not offset the high production costs resulting from commodity and utility prices. Alro… Read more »

BVB-listed telecom group Digi Communications (BVB: DIGI), with operations in Romania, Italy and Spain, announced in a note to investors that its financial and operational performances improved in the first quarter compared with the same period of 2021. The Group’s net profit rose by 16% YoY to EUR 27 mln in the quarter. “DIGI delivered another strong earnings performance in the first quarter of 2022. Following the successful sale of our Hungarian operations, we concentrated our efforts on the legacy… Read more »

Of the 21 companies listed on the AeRO market of the Bucharest Stock Exchange in 2021, only one third managed to achieve their expected profitability last year, according to an analysis by Bogdan Vasile, Evergent Investments (formerly SIF Moldova) investment analyst. Of the companies listed on AeRO last year, 52% achieved a net profit in excess of 80% of the target. Also, one company achieved a net profit twice as high as planned, while four companies (19%) recorded a loss… Read more »

The Romanian Ministry of Finance acknowledges the risk posed by the potential insolvency of the International Investment Bank (IIB), which was abandoned by some of its shareholders, including the Romanian state, due to Russia's majority position. Still, it says it couldn't assess a financial impact on Romania's exposure. At stake, there is the money of Romanian pension and investment funds - some EUR 273 mln. The IIB needed EUR 125 mln in March and called on the Member States to… Read more »

The Confidex index "of [managers'] economic confidence" compiled by Impetum Group is at its highest level, and the authors of the study conclude that "Romanian managers are much more confident in the future, although the pressure of the new crises is felt by most of them." 76% of them believe that they will be greatly affected by the war in Ukraine, agriculture and industry are the sectors where the mood of managers has decreased, but the confidence index in the… Read more »

Romania’s GDP increased by a real 6.5% in the first quarter of the year (Q1) compared to the same period of 2021 (YoY), according to the flash estimate published by the statistics office INS on May 17. The seasonally-adjusted quarterly GDP increased by 5.2% compared to Q4 (QoQ), after the 1.0% QoQ advance posted in the last quarter of last year (revised from negative 0.1% QoQ). INS’s flash estimate surprised the independent analysts, who were even not excluding the option… Read more »

Romania’s Government plans to offer state guarantees for loans of up to EUR 15,000 taken by young adults who start a new family and up to EUR 10,000 for students, the Minister of Family, Youth and Equal Opportunities, Gabriela Firea (PSD), announced on Family Day (May 15). The first program is called “Family Start” and is intended to support families that are just starting out, by granting them the financial assistance they need in order to get married, buy a… Read more »

Government officials in Romania want to produce military aircraft, drones and submarines, among others, but the state-owned defense industry is outdated and has a long history of inefficiency and failure to deliver, despite an equally long record of government promises. Romania plans to design and build military aircraft, according to economy minister Florin Spătaru. “We had discussions in Craiova on this topic. It is a message that we launched to the aeronautical industry in Romania, a country project that we… Read more »

This year’s edition of Gărâna Jazz Festival, set to take place between July 7 and July 10, will see performances from Charles Lloyd & The Marvels feat. Bill Frisell, Soft Machine, and Frank Gambale: All Star Band, among others. The organizers have scheduled for each festival day five concerts on the stage in Poiana Lupului and another two at the Catholic Church in Văliug. Saxophone player Charles Lloyd will return to the festival alongside The Marvels and jazz guitarist Bill… Read more »

Romania has started administering the fourth dose of COVID-19 vaccine although international health organizations haven't issued recommendations on the need for a fourth dose yet. More than half of Romanians are unvaccinated and only one in ten Romanians have taken the booster shot. Romanians can get their second booster (4th dose) of the COVID vaccine produced by Pfizer and BioNTech, starting May 16, 2022. To be eligible, those willing to get the fourth dose must: be at least four months… Read more »

Twelve productions from all over the world will compete for the Transilvania Trophy at this year's edition of Transilvania International Film Festival (TIFF). The competition, open to first or second-feature directors, will showcase a selection of recent films that local audiences can see for the first time in the country in Cluj-Napoca, between June 17 and June 26. The two Romanian films in the competition are Octav Chelaru's Balaur/ A Higher Law, which looks at the consequences of the affair… Read more »

Fundația Conservation Carpathia (FCC) will replant this spring 100 hectares of areas destroyed by ample exploitation or incidental felling in the Făgăraș Mountains. FCC and Carpathia Forestry Association have started the planting of 435,000 saplings of spruce, European beech, and fir in four ecological reconstruction areas: Groapele, impacted by felling and a fire, Dobroneagu, Valea Dâmboviței and Lerești. Alongside the watercourse on Valea Doamnei, FCC also planted 750 saplings of alder, an important species in stabilizing the banks. The saplings… Read more »

Clapart, a Romanian blockchain project allowing the public to invest in the projects of their favorite artists, is set to open a first public funding round targeting mainly local audiences on June 1. The platform brings blockchain technology and cryptocurrency to the media and entertainment sectors through a decentralized ecosystem where creators can rely on their community to develop and promote their work, while fans can invest and support their favorite creators. The project covers an online platform for all… Read more »

South Korea donated 600,000 rapid Covid-19 tests to Romania, the Health Ministry announced. The tests will be distributed to hospitals, county ambulance services, and residential centers. They will be used for the testing of patients, to avoid outbreaks, and of potential cases, the ministry said. Last year, Romania donated 450,000 Covid-19 vaccine doses produced by Moderna to South Korea. It was one of several vaccine donations the country made last year, including to Moldova, Georgia, Egypt, Albania and Vietnam. Romania… Read more »

Romania's minister of education, Sorin Cîmpeanu, announced on May 16 that all the salaries of the employees in the education system have been paid. He added that the Ministry of Education "regrets the delays due to computer errors at the level of an institution within the structure of another ministry and reiterates its support for a motivating salary and, obviously, for the timely payment of all education staff". "Without financial resources, one cannot imagine an education in the spirit of quality… Read more »

The former co-president and later president of the Romanian reformist party USR (formerly USR-PLUS), Dacian Cioloş, is going to announce his resignation from the party in the next period, sources from inside the party told News.ro. Along with him, some of his collaborators - most likely the party's MEPs - will also resign. Dacian Cioloş resigned from the top of the party - where he reached following fierce internal competition - on February 7. In October last year, Ciolos competed… Read more »

Integrated real estate developer Prime Kapital, with a focus on central and eastern Europe,announced a EUR 30 mln residential project in Ploiesti, 60 km north of Bucharest. The project Pleiades Residence is being built on a plot of land of the former "Uzina 1 Mai" industrial platform. The developer has got the construction permit for the first phase of the project and will start the construction works in the next period. The first apartments will be completed by the end… Read more »

One United Properties (BVB: ONE), the leading Romanian developer of residential, mixed-use and office real estate, announced "historical results both in terms of the top line as well as the bottom line." It reported a consolidated turnover of EUR 70.5 mln in the first three months of 2022, 81% more compared to Q1 2021. The gross profit increased almost fourfold to EUR 42 mln, while the bottom line surged by 314% to EUR 33.6 mln. The company's cash position increased… Read more »

Hidroelectrica, the largest energy producer in Romania, announced a net profit of RON 1.29 bln (EUR 260 mln) in the first quarter, 70.2% higher compared to the same period last year. The net profit margin exceeds 50%. Not even the 30% drop in output amid adverse natural conditions, could depress the earnings of the state-controlled hydropower group that heads towards a 15%-20% IPO at Bucharest Stock Exchange (BVB), under which Fondul Proprietatea would sell its participation. Hidroelectrica's revenues rose by… Read more »

Romania's finance minister Adrian Câciu met the vice president of the European Investment Bank (EIB), Christian Kettel Thomson, to discuss "how to operationalize as quickly and efficiently as possible the financing contract for the new Regional Hospital in Craiova, worth EUR 368 mln." The total cost of the project is EUR 509 mln. The new Regional Emergency Hospital (SRU) in Craiova would be operational in 2028, according to an investment acceleration plan approved by the Ministry of Health in January,… Read more »

Romania’s Ministry of Finance reopened a bond issue due in June 2026 and issued RON 366 mln (EUR 67 mln) of new papers - over 20% more compared to the target size of the issue - at a yield of 8.02%, Ziarul Financiar reported. Out of the total amount awarded, the banks bought RON 305 mln in their own name and account. A couple of days earlier, the Treasury accepted paying a yield of nearly 8.5% for bonds with a… Read more »

A group of experts, including mostly tax experts but some economists as well, such as Fiscal Council head Daniel Daianu and central bank's chief economist Valentin Lazea, came up with an analysis of the fiscal system in Romania and a set of measures that would supposedly bring supplementary revenues in the amount of 4% of GDP.  The general recommendations expressed by the experts are remarkably consistent with the rhetoric of the senior Social Democrat Party (PSD).  "It is not fair… Read more »

Marcel Ciolacu, the president of the Social Democratic Party (PSD), announced on Monday, May 16, that his party would come up with amendments to the Fiscal Code by the beginning of June, implying that they should be endorsed by the end of the month to be enforced as of January 2023.  There was nothing clear in the statements of Marcel Ciolacu - except for the final goal of increasing the budget revenues. Ciolacu also spoke against the "flat tax" system ("which… Read more »

Under the Spring Forecast published on May 16, the European Commission (EC) updated its projection for Romania's economy, bringing it in line with the consensus expectations - and going a bit further. The public deficit-to-GDP ratio will rise to 7.5% of GDP this year (under ESA) and will stay in 2023 just above the 6.2%-of-GDP target set by the Government for 2022, according to the scenario drafted by the Commission's experts for the Spring Forecast. The Government still sticks with… Read more »

Out of 62 cases of stranded dolphins and porpoises identified since the start of the year, 40 cases were identified in 12 days, the NGO Mare Nostrum Constanţa announced on May 11. After seeing in between one and five cases per day, in one instance, 26 beached dolphins were identified in the area of the Danube Delta, between Sulina and Sf. Gheorghe, on the Romanian coast of the Black Sea, Marian Paiu of the NGO Mare Nostrum Constanţa told Dobrogea.tv.… Read more »

French chess grandmaster Maxime Vachier-Lagrave won both the trophy and the USD 77,667 first prize at the 2022 Superbet Chess Classic Romania, the first stage of the Grand Chess Tour. Vachier-Lagrave had a perfect Saturday, winning the classical encounter with Alireza Firouzja and then defeating both Wesley So and Levon Aronian in the playoffs. He took first place in the final standings with 5.5 points, winning the biggest money prize and the trophy that brought him back to the top… Read more »

Two high profile cases came to a conclusion last week when final sentences were handed out in the 2015 Colectiv club fire file and in the corruption trial against former Bucharest mayor Sorin Oprescu. Meanwhile, as cultural events are making a comeback after two years of pandemic restrictions, the public all over the country turned out in high numbers for the Night of Museums. More of the May 9 – May 15 week’s highlights in photos below. One event that… Read more »

Bihor County Council announced that passenger flights at Oradea Airport in northwest Romania resumed this past Sunday. Flight operations were suspended between May 2 and May 15 due to work on the taxiway connecting the airport runway to the future cargo terminal. According to the quoted source, more than 60 meters of the new taxiway's 276 meters have been completed. "In the last two weeks, work has been done at a very fast pace so that we can reopen the… Read more »

Romania’s transport minister Sorin Grindeanu said on Friday, May 13, that the tender for the purchase of 62 short-distance electric trains had been unblocked. They will replace the outdated electric trains and diesel locomotives currently in use. The contract has an estimated value of between RON 3 billion and RON 4 billion (excluding VAT) and includes the repair and maintenance of the 62 trains. The acquisition is financed from non-reimbursable European funds and the Romanian state budget. “The auction for… Read more »

Foreign affairs minister Bogdan Aurescu said on May 14 that Romania resumed activities at its Embassy in Kyiv. “Very glad to announce that starting today the Romanian Embassy in Kyiv has resumed its activity on the ground. Romania fully stands with its partner Ukraine in its bold fight for freedom!” - reads the Romanian minister’s message on Twitter. Very glad to announce that starting today the Romanian🇷🇴 Embassy in #Kyiv has resumed its activity on the ground. Romania fully stands… Read more »