What do a BMW engine and the Mercedes G-Class have in common? They both come from Austria! For all necessary parts of a car are manufactured in Austria. And even entire vehicles, such as the off-road car with the star. The international automotive sector is characterized by intensive collaboration between individual companies. As a supplier of vehicle parts and technologies, Austria is an important player here.
High-level business and political representatives from the three countries expressed interest in closer cooperation in areas such as energy, digitalisation, R&D and agriculture, which are considered priorities in the current geopolitical context. More than 250 participants from Romania, Germany and the Republic of Moldova gathered during 28-29 September in Berlin, at the initiative of the German-Romanian Chamber of Commerce and Industry (AHK Romania) and the German Eastern Business Association, to take part in the German-Romanian Business Conference. The Chancellor of the Federal Republic of Germany, Olaf Scholz and the Prime Minister of Romania, Marcel Ciolacu, delivered messages of support regarding the cooperation between the economies of the three countries.
There are parallels between the market access challenges faced by the UK agriculture and agriculture in Romania and elsewhere in the EU. These challenges have different immediate causes, but that in the UK is more immediate and that for Romania and the EU is coming – but does not appear to be widely discussed at present, except in so far as may be in the political context in Poland, Hungary and Slovakia.
The capital market in Romania is going through one of the best periods in history and has recorded a streak of successive all-time highs in July and in the first 7 months of this year. The offer of Hidroelectrica (H2O), a leader in electricity production and the main provider of technological services needed in the National Energy System, which was held at the Bucharest Stock Exchange (BVB) between June 23 and July 4, 2023, ended successfully and became the largest initial public offering (IPO) ever made on the Romanian stock market.
“Everyone needs a coach.” These are the words Bill Gates chose to open one of his TED Talks with impact. Interestingly, most high performers, especially in sports, have a coach, isn’t a CEO a high performer too?
There aren’t many significant success stories in Romania at the moment, but the current edition of the Green House program, through which the state subsidizes the installation of solar panels in people’s households, has at least the potential to be one of them. And even if it has been partly overshadowed by strikes and budget scandals, it is worth telling.
Listed in chronological order, the takeover of Dacia by Groupe Renault and the arrival of Ford in Romania through the takeover of the Craiova plant are, in my opinion, among the best things that have happened in this country since the 1989 revolution. Dacia is already the strongest link in the Renault group, but Craiova is a place that seems to get our heart rate a little off. Is that really the case?
Although relatively new to the consumer market, artificial intelligence is already disrupting society. Large language models (LLMs) are evolving at a speed that worries even those controlling them. But while doomsday scenarios are still to come true, LLMs are already having a palpable influence on the occupational world.
The growth and development of the sports industry in Romania should depend on private sector investment, with the support of local communities. Despite this, hundreds of sports clubs in Romania are still financed by the state, unlike other countries where the private sector sponsors sports.
A company that produces 12,000 tractors a year, a global market leader in fruit preparation, animal feed that reduces the use of antibiotics in livestock breeding and a worldwide leader in the production of agricultural machinery with more than 140 years of experience: the Austrian agricultural and forestry industry is diverse. The relatively small-scale structures within the country encourage creativity and promote a sustainable way of working. That is why Austria is also number one in organic farming within the EU.
