The European Commission has approved an approximately €164 million (RON 815.5 million) Romanian scheme to support the agricultural primary production sector in the context of Russia's war against Ukraine. The scheme was approved under the State aid Temporary Crisis and Transition Framework, adopted by the Commission on 9 March 2023 and amended on 20 November 2023, to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies. Under the scheme, the aid will consist in limited amounts of aid in the form of loans interest subsidies. The measure will be open to agricultural producers that are at risk of losing financial liquidity due to the difficulties in the agricultural market provoked by the Russia's war against Ukraine. In particular, under the Romanian scheme, the aid (i) will not exceed €280,000 per beneficiary; and (ii) will be granted no later than 30 June 2024. The Commission concluded that the scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Crisis and Transition Framework. On this basis, the Commission approved the scheme under EU State aid rules.
US company Goodyear, one of the world's largest tire manufacturers, has appointed Romanian Octavian Velcan as the head of its Turkish subsidiary, one of Turkey's largest exporters. The Turkish branch of Goodyear operates deliveries nearing USD 2 billion, according to data analyzed by Profit.ro. ...
A study conducted by the Bucharest Community Foundation, through the Bucurestiul Pregatit/Bucharest Ready program, shows that 82% of residents believe that the Romanian capital is not ready for a major earthquake, making it a prime concern among city residents. Meanwhile, 59% of Bucharest residents consider earthquakes a major threat, ranking them as the second biggest […]
Endava (NYSE: DAVA), a global provider of digital transformation, has been selected as a partner in the Open Cloud for Research and Education (OCRE) 2024 framework. This EU-compliant procurement framework, administered by GÉANT, the collaboration of European National Research and Education Networks (NRENs), enables European educational institutions to access innovative cloud services, fostering digital transformation […]
Romanian justice minister Radu Marinescu said during an interview that Andrew and Tristan Tate, who left Romania after their travel ban was lifted, have every interest in returning to comply with judicial procedures. The two are investigated for human trafficking and other offenses, including rape. The minister argued that the brothers have always claimed that […]
A new investigation from independent journalists at Recorder shows that far-right politician Călin Georgescu, who routinely accuses American-Hungarian billionaire George Soros of meddling in Romanian politics, partnered with the...
Workspace Studio, a leader in ergonomic design solutions and employee-centered design, announces solid results for 2024, with a turnover of €27 million, up 20% from the previous year. This success was driven by large-scale projects for top companies as well as numerous collaborations with medium and small firms, all benefiting from the same commitment to […]
