Bucharest is hosting between 3 and 6 August the first International Business and Finance Olympiad (IBFO) from 3 to 6 August, organised by the Romanian Excellence Centre in Economics.

A total of 40 students and 16 team leaders from eight countries will take part in the competition in person: Greece, Hong Kong, India, Japan, Macao, New Zealand, Poland and Romania.

Romania's team will be made up of Mircea Andrei Huidu (International School of Bucharest), Robert Bercea (British International School of Timisoara), Bogdan Mihet ('Saint Sava' National College), Andrei-Vlad Petcu ('Tudor Vianu' National College of Computer Science) and Ava Moldovan (Cambridge School of Bucharest).

The event's official opening will take place on Tuesday in the Aula Magna of the Bucharest University of Economic Studies.

Unlike competitions built predominantly around the reproduction of theoretical knowledge, the IBFO places students in the role of consultants. They must analyse a company's financial data, identify the central problem, calculate performance indicators, develop a strategy, prepare a professional report and defend their recommendations before a jury.

The first two rounds will take place without internet access. Artificial Intelligence may only be used to prepare the final presentation, which must accurately reflect the analysis and recommendations previously set out in the written report. Technology may support communication, but cannot replace the students' financial analysis or reasoning.

In the final stage, teams will have 10 minutes to present their solution before answering questions from the jury, made up of representatives from academia and the business sector.

This year, Romania won three bronze medals at the International Economics Olympiad, held in Shenzhen, China, in a competition that brought together 56 teams of five students, thanks to high school pupils who benefited from the free training programme provided by the Romanian Excellence Centre in Economics.

The medals were won by: Radu Nedea (International British School of Bucharest), Robert Bercea (British International School of Timisoara) and Iustin Alexandru Gheorghe ('Mihai Viteazul' National College, Ploiesti). AGERPRES (RO - writing by: Andreea Rotaru; EN - writing by: Rodica State)

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