Tag: foreign capital

  • June 14, 2023

    June 14, 2023

    Government. 18 candidates proposed for the new Government headed by the Prime Minister Designate, the Social – Democrat Marcel Ciolacu, are being heard in Bucharest today. They are presenting their goals before the specialized committees of the Romanian Parliament. Some of the candidates would keep their previous offices. Also, new names have been included in the list of government members. The list however, proposed b the PM designate, includes only members of the Social Democratic Party and of the National Liberal Party, and no member of the Democratic Union of Ethnic Hungarians, which was a junior member in the previous coalition. The government proposed by Marcel Ciolacu wants to solve the issue of special pensions, contested by a large part of civil society, to adopt the new unitary salary law and to stop prices from raising. The new government could be sworn in on Thursday, in plenary session of Parliament. We recall that the Liberal PM Nicolae Ciuca resigned to make room for his coalition partner, the Social Democrat Marcel Ciolacu, in keeping with the agreement the two parties made back in November 2021.



    Companies. The number of companies with foreign capital newly established in Romania increased, in the first four months of the year, by 4.6%, compared to the similar period in 2022, according to data centralized by the National Trade Registry Office (ONRC). The figure represents some 2,300 new companies that had a total subscribed capital of about 8.5 million dollars. According to the National Trade Registry, at the end of April 2023, in Romania there were over 246 thousand companies with foreign participation in the share capital, with a subscribed capital value of about 68 billion dollars. The largest number of companies with foreign participation is with investors from Italy, but the highest value of the social capital belongs to Dutch companies.



    AI. The European Parliament is voting today the first law on Artificial Intelligence after, on Tuesday, the bill was debated in plenary session in Strasbourg. The main thing that the MEPs emphasized was that artificial intelligence must not be used against people, must respect human rights, as well as European values. The new law was built and improved through amendments precisely in the sense of protecting citizens and, at the same time, giving researchers and business people the possibility to deal with and invest in artificial intelligence without additional burdens that would prevent them from developing this structure for the benefit of society.



    Ukraine. The United States has announced an additional military aid worth 325 million dollars for Ukraine, aimed in particular at strengthening air defense against Russia. According to the Pentagon, it is mainly about air defense equipment, ammunition and vehicles. The new tranche of aid comes at a time when the Ukrainian army has launched a counter-offensive against the Russian forces in the east and south of the country to liberate the occupied territories. On Friday, Washington announced about $2 billion in military aid, mainly air defense equipment, in the form of various orders to the defense industry. The United States is Ukraines largest donor. It has delivered or pledged to deliver $39.7 billion worth of arms to Kyiv since the start of the Russian invasion on February 24, 2022.



    Security. Romania is an essential ally and strategic partner of the United Kingdom and what it is doing to help Ukraine regain its full sovereignty and enjoy its full territorial independence is at the top of the allies responses, the ambassador of the United Kingdom of Great Britain and Northern Ireland Andrew Noble said in Bucharest today. He attended an exhibition where about 35 British companies in the field of defense and security are presenting their products and activities. Representatives of the Ministry of Defense, the Ministry of the Interior, the Romanian Intelligence Service, the Special Telecommunications Service, the Guard and Protection Service, the Romanian Parliament, the Ministry of Economy, as well as the Romanian defense industry were invited to the event. The UK is the worlds second largest defense exporter after the US, with a turnover of ­£22.8 billion in 2022, supplying equipment to support armed forces and security services around the world.



    Trump. Former US President Donald Trump, prosecuted for negligent handling of state secrets after leaving the White House, pleaded not guilty in federal court in Miami on Tuesday, France Presse reports. The 76-year-old Republican is accused of endangering the security of the United States by keeping classified documents, including military plans and information about nuclear weapons. He is also accused of refusing to return documents despite court orders, leading to his indictment for illegal withholding of information relating to national security”, as well as obstruction of justice and false testimony. Since his prosecution started, Donald Trump has denounced an orchestrated “staging” to remove him from the competition against the Democratic President Joe Biden, who is running for a second term.



    Rugby. The technical staff of the Romanian national rugby team has announced an enlarged squad of 50 players for the World Cup that will be hosted by France this fall. Of the 50 athletes, 35 perform in the country, and 15 abroad, the vast majority in France. The Rugby World Cup will take place between September 8 and October 28. The “Oaks” will play in Group B. They will play the first match on September 9 against Ireland, then will meet the world champion South Africa on September 17, on September 30 will face Scotland, and on October 8 will take on Tonga. Until then, Romania will play three test matches, all in August, against the USA, Georgia and Italy. (MI)

  • July 10, 2022 UPDATE

    July 10, 2022 UPDATE

    COMPANIES – The
    number of companies with foreign capital set up in Romania has gone up in the
    first five months of the year by 35% compared to the similar period of 2021,
    according to data centralized by the National Trade Register Office. Most new
    companies were set up in the administrative, scientific and technical sectors,
    in trade, car repairs and transport. In May, most enterprises with foreign
    capital participation had investors from Italy – over 50,000 companies with a
    total capital of 4 billion USD, whereas companies with the largest capital were
    from the Netherlands, with total investments of 12 billion USD, invested in
    approximately 5,800 companies.




    USR -
    Former transport minister Cătălin Drulă has
    been elected president of USR in opposition. Drulă grabbed 71% of the vote held online over the course of
    a number of days. Ranking second was MP Cătălin Teniță with 14%, while the
    former head of the Environment Guard,
    Octavian Berceanu came in third with 11%. Drulă promised to step up the
    opposition’s efforts. The vote is expected to be validated at the USR
    Congress scheduled on July 16. After leaving the ruling coalition last year,
    USR has been affected by a number of internal disputes, which led to the
    withdrawal of its former president, MEP Dacian Cioloș. Cioloș has in the meantime founded the REPER party.




    SWIMMING -
    Romanian swimmer David Popovici has won gold in the 100m freestyle event on
    Sunday at the European Junior Swimming Championships hosted by Otopeni near
    Bucharest. Popovici thus grabbed his fourth European title, after also winning
    the 50m freestyle, the 200m freestyle and the men’s 4x100m relay events. Also
    on Sunday, Vlad Stancu won silver in the 400m freestyle event. With 9 medals (5
    gold and 4 silver), Romania has secured 3rd place in the medal standings,
    after Hungary and Poland. Some 500 athletes from 42 countries took part in the
    competition. Representing Romania were 26 swimmers, 14 in the men’s competition
    and 12 in the women’s competition.




    FOOTBALL -
    Romanian football club Sepsi OSK Sfântu
    Gheorghe has won for the first time in its history the Romanian
    Supercup after defeating Romanian champions CFR Cluj 2-1 in a match played on
    neutral turf, in Arad, western Romania. Founded in 2011, Sepsi managed to win
    its second trophy this year after winning the Romanian Cup this season. CFR
    Cluj will next week play the return leg against Piunik Yerevan of Armenia which
    will decide which of the two teams advances to the Champions League second
    preliminary round. In the first match played away from home, CFR drew 0-0.
    Should it secure qualification, CFR will play the winner of the match pitting
    F91 Dudelange of Luxembourg against KF Tirana of Albania. If it loses the match
    against Piunik, CFR will perform in the Europa Conference League second
    preliminary round. Here it will face the winner of a playoff tournament
    featuring Levadia Talinn of Estonia, Vikingur Reykjavik of Iceland, La Fiorita
    of San Marino and Inter Club d’Escaldes of Andorra. The three Romanian teams
    qualified to European Conference League will go up against less formidable
    clubs in the second preliminary round. Therefore, Romanian vice-champions, FCSB
    will take on the winner of the match pitting FC Saburtalo of Georgia against
    Partizani Tirana of Albania. Sepsi OSK will play the winner of the match
    pitting Olimpja Ljubljana of Slovenia against Differedange 03 of Luxembourg,
    whereas finally, Universitatea Craiova will play KF Vllaznia Shkoder of
    Albania, the winner of the Albanian Cup. The return legs are scheduled this
    month.




    ROWING – The
    Romanian delegation at the World Rowing Championships hosted by Lucerne,
    Switzerland, has won six medals – 1 gold, 2 silver and 3 bronze. The Romanian
    women’s pair made up of Simona Radiș and Ancuța Bodnar won gold. The silver went to the
    women’s pair made up Ioana Vrînceanu and Denisa Tîlvescu, as well as to the
    women’s quad-scull crew made up of Mădălina Bereş, Iuliana Buhuş, Magdalena
    Rusu and Amalia Bereș. The bronze medals were won by the women’s 8 crew, made
    up of Gianina Beleagă, Ioana-Mădălina Moroșan, Adriana Ailincăi, Elena
    Logofătu, Cristina Popescu, Roxana Anghel, Ioana Vrînceanu, Denisa Tîlvescu and
    Victoria-Ștefania Petreanu. In the men’s competition, the men’s quad-scull crew
    made up of Mihai Chiruță, Ciprian Tudosă, Ioan Prundeanu and Florin-Marian
    Enache scooped bronze, as did the men’s four crew, made up of Mihăiță
    Țigănescu, Mugurel Semciuc, Ștefan Berariu and Florin Lehaci. (VP)



  • July 20, 2017

    July 20, 2017

    VISIT Romanian Prime Minister Mihai Tudose is paying a visit to the neighboring Republic of Moldova, an ex-soviet Romanian-speaking country. High on his agenda are talks with his Moldovan counterpart Pavel Filip and Parliament speaker Adrian Candu on stepping up bilateral cooperation as well as Bucharest’s support for the European progress of the Republic of Moldova. The Romanian Prime Minister’s agenda doesn’t include talks with Igor Dodon, the Socialist pro-Russian president of the republic. This is Tudose’s second visit abroad since he was sworn in at the end of June. He told the EU leaders in Brussels last week: “Romania has a huge task in assuring the pro-European roadmap for the Republic of Moldova.”



    COMPANIES The number of companies with foreign capital set up in Romania rose in the first quarter of this year by 9.34% up to 2,938 as compared to the same period of 2016. In June this year they rose by 13% to reach 532. We recall that 2016 proved to be Romania’s weakest year in the past 18 years in terms of newly-established foreign capital enterprises. The second best year after 1991 was 2007, with 15 suchlike companies registered. The worst year was 1995 with only 34 hundred companies.



    HOLIDAY The majority Orthodox believers and the Catholic Christians in Romania are today celebrating Saint Elijah. According to the Bible, prophet Elijah lived 28 hundred years ago and reinstated the faith in Jehovah among the idolatrous Israelites. Elijah didn’t end his life as any other man but was taken to God in a chariot of fire. He is also the saint patron of the Romanian Air Force, which is also marking the day of July 20th through a series of military and religious sermons. According to data released by the Directorate for Personal Records, roughly 130 thousand Romanians are today celebrating their name day.



    LAW The ex-soviet Romanian-speaking Republic of Moldova has today seen fresh protests from civil society and opposition parties against a Parliament approval over amending the country’s election system. Under the new law, 50 MPs will be elected on party tickets and 51 others in uninominal constituencies. EU officials have called on Chisinau to comply with the recommendation of the Venice Convention, according to which amending electoral legislation and adopting the uninominal vote for Parliament are inopportune. Experts, quoted by Radio Romania correspondents in Chisinau, say that the introduction of the uninominal system is favouring the big parties, namely the Prime Minister Vlad Filip’s pro-western democrats and the socialists of pro-Moscow presidents Igor Dodon.



    FOOTBALL Romanian football side Astra Giurgiu tonight takes on Zira FK of Azerbaijan in a decisive round of the Europa League’s second preliminary leg. Astra won the first match 3-1 and if qualified they would play Ukrainian side FK Oleksandria. In the same competition Universitatea Craiova of Romania will be up against famous Italian side AC Milan, while Dinamo Bucharest takes on strong Spanish eleven Athletico Bilbao. In the Champions League, the new Romanian champions Viitorul Constanta will be playing APOEL Nicosia of Cyprus, while vice-champions FCSB, formerly known as Steaua Bucharest will meet Czech side Viktoria Plzen.