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Paravion closes Turkey portal Bavul.com, files for insolvency

News August 07, 2017 16:31 0 comments

Paravion, Romania’s biggest online tourism portal, has filed for insolvency and will close bavul.com, the Turkish-based portal it purchased in 2014. The company will implement a restructuring plan starting August 8. In the past year,…more »

"timisoara capital of culture 2021"

Romania’s culture expenditure smallest in the EU in 2015

News August 07, 2017 14:27 0 comments

In 2015 Romania had the smallest culture expenditure among European Union member states, compared to the size of its population, data released by the Eurostat shows.  Compared to the size of its population, Romania spent…more »

cigarette black market

Romanian authorities seize nearly 75 mln smuggled cigarettes in H1

News August 03, 2017 18:11 0 comments

Romanian authorities have seized around 75 million smuggled cigarettes , worth RON 45 million in the first half of 2017, down by 1.3 percent compared to the end of 2016, data released by American Tobacco…more »

Study: Romania should invest USD 237 bln in infrastructure by 2040

News July 25, 2017 19:37 0 comments

Romania should invest USD 237 billion in its infrastructure by 2040, a study by Global Infrastructure Hub, an initiative backed by G20, shows.  However, according to the survey, should the current trends continue, Romania will…more »

Hans Klemm

Hans Klemm: Purchase of Patriot missiles by Romania has profound impact

News July 25, 2017 15:35 0 comments

According to US Ambassador to Romania Hans Klemm, Romania’s purchasing Patriot missiles has a profound impact and will contribute to the defence of neighbouring countries and NATO as a whole.  At the beginning of the…more »

Lemet to open new Lem’s store in Targoviste after RON 1.2 million investment

News July 19, 2017 15:23 0 comments

Furniture manufacturer Lemet will open a new Lem's store in Targoviste this week after an investment of RON 1.2 million. This is the second store the company opens this year, after the Satu Mare store,…more »

KPMG: Romania, ranked 49 among countries that can best cope with shocks

News July 19, 2017 14:49 0 comments

Romania made major progresses in its ability to respond to significant changes, as it climbed over 32 positions compared to the previous year in KPMG's Change Readiness Index 2017. Romania is ranked 49, with a…more »

home ownership

INS: Less than half of Romanians’ homes are connected to sewer systems

News July 18, 2017 13:59 0 comments

The number of Romanians whose homes are connected to the sewer system increased last year by 2.4 percent to 9.7 million, representing 49.1 percent of the resident population, according to a report published on Tuesday…more »

Minister Laufer: over 19,000 business plans submitted for Start-Up Nation program

News July 17, 2017 17:26 0 comments

Government program Start-Up Nation attracted over 19,000 business plans, Minister for the Business Environment Ilan Laufer said on Monday. The next edition of the program will take place in 2018. According to Laufer, 70 percent…more »

Fitch Affirms Romania at ‘BBB -‘ with stable outlooks

News July 17, 2017 13:44 0 comments

Fitch Ratings has affirmed Romania's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with Stable Outlooks. The issue ratings on Romania's senior unsecured foreign - and local-currency bonds have also been affirmed at…more »