A recent draft legislative proposal initiated by the Romanian government is generating serious concerns due to the significant changes recommended by the proposal. The prospective changes are intended to address Romania’s increasing budgetary deficit (currently at 2.33% of GDP, but… Read moreRomania expects significant changes to its gambling legislation
Alpha Bank Romania announces that it has signed a business transfer agreement with Orange Money Romania to acquire the consumer ecosystem built by the company, that encompasses its customer portfolio, top-of-the-market digital assets (mobile application), credit card portfolio and employees…. Read moreAlpha Bank Romania to acquire the Retail Business of Orange Money in Romania
The former classic (to be read “rigid”) system where performance of work is accomplished in just a single physical workspace for all employees is already starting to fade away, due to its declining economic benefit and its missing opportunity of… Read moreSmart teleworking – Guidelines to obtain cost efficiency and active risk management
“Our writing equipment takes part in forming our thoughts” – Friedrich Nietzsche, (Reflecting on how his writing became colder, with shorter crisper sentences, not unlike iron, after he started using one of the first commercial typewriters) A Historical Relationship The… Read moreLawyers & Technology: between productivity and gain
In an economic context with multiple challenges, Alpha Bank Romania remained a trustworthy partner of its customers and of the Romanian economy, while strengthening its position in the market: • The net loan portfolio grew 10% compared to the same… Read moreAlpha Bank Romania First Half 2023 financial results highlights: Strong lending activity to support the Romanian economy
International law firm CMS has advised HELLENiQ Energy Holdings on the acquisition of a 211 MW portfolio of four solar projects developed in Romania by MYTILINEOS Energy & Metals. The agreement marks HELLENiQ Energy Group’s entry into Romania’s rapidly growing… Read moreCMS advises on two strategic investments in the Romanian renewable sector
1. Falling behind schedule under a consumer loan will trigger for borrowers-consumers penalty interest rates, calculated by adding max. 3 percentage points on the top of the loan interest rate (see footnote, art. 38 para. (2) of O.U.G. 50/2010). The… Read moreA few notes concerning “early maturity / early repayment of loan” and “penalty interest” in case of consumer default, as regulated by art. 38 of OUG no. 50 of 9 June 2010 regarding consumer credit contracts
Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted a syndicate of banks in providing EUR 550 million in financing to the Swiss group Ameropa, which owns some of the largest local agribusiness companies – Azomures, Romania’s largest fertilizer producer, Ameropa… Read moreNNDKP assists a syndicate of banks in providing a EUR 550 million financing to the Ameropa Group
Firon Bar-Nir assists Tefron (worldwide lead manufacturer of seamless apparel and activewear, well known and active in North America, Middle East and Asia) in entering the European market by acquiring Adesgo`s seamless apparel business. Our team, led by our Senior… Read moreFiron Bar-Nir supports Tefron in completing the acquisition of Adesgo`s seamless apparel operation
On 20 July 2023, the Romanian Government enacted Governmental Ordinance No. 23/20.07.2023 amending and supplementing the Romanian Tobacco Law (GO 23), which implements several amendments to the legal framework of heated tobacco products in Romania. According to the government’s Statement… Read moreNo more flavoured vaping in Romania: Romanian Government enacts new restrictions on heated tobacco products
