The European Commission has approved, under EU State aid rules, the prolongation and amendment of a Romanian scheme to support the production of electricity and heat from high-efficiency cogeneration installations connected to district heating networks in Romania. The scheme was originally approved in September 2022 and is due to expire on 30 June 2024. It aims at promoting the construction of new high-efficiency cogeneration plants. Romania notified the Commission of its intention to: (i) prolong the measure until 31 July 2028; (ii) increase the budget by €362 million, bringing the total budget to €752 million; and (iii) support the installation of at least 200 MW of additional cogeneration power capacity. The Commission assessed the amended scheme under EU State aid rules, in particular under Article 107(3)(c) of the Treaty on the Functioning of the European Union and the 2022 Guidelines on State aid for climate, environmental protection and energy. The Commission found that the amended scheme remains necessary and appropriate to promote energy-efficiency cogeneration installations in Romania and to reduce greenhouse gas emissions. Furthermore, the Commission found that the aid is proportionate and any negative effect on competition and trade in the EU will be limited. On this basis, the Commission approved the amendment under EU State aid rules.
The exhibition RomanIa – Identity representation of traditional dress in art, currently on view at the National Museum of Art of Romania (MNAR), gathers a variety of artistic representations of the traditional blouse ia, from painting and sculpture, to drawing, photography, installation, film, music, posters, fashion, books, albums, and more. It includes works by Henri […]
Over 136,000 non-EU citizens held residence permits for employment in Romania at the end of August this year, most of them coming from Nepal, Sri Lanka, Turkey, Moldova, and India, and two out of three immigrants live in Bucharest, Ilfov, Constanța, Timiș, and Cluj, according to a study conducted by the Economic and Social Council. […]
Romanian prosecutors conducted house searches in 12 locations in Bucharest and two in Târgu Mureș on Wednesday, November 26, in a case targeting former employees of bankrupt insurer Euroins. Specifically, the searches targeted 10 individuals who held executive management positions within Euroins, as well as the headquarters of legal entities controlled by the Bulgarian shareholders […]
Prices in Bucharest’s premium residential market have doubled over the past few years, reaching record highs amid a severe shortage of supply in the city’s most exclusive neighborhoods, Cushman & Wakefield Echinox said. Areas such as Primăverii, Kiseleff, Aviatorilor, and Dorobanți continue to dominate demand. Over the past 2 or 3 years, prices for premium […]
The Romanian Consulate in New York shared on social media the story of George Pomuț (George Pomutz, born Gheorghe Pomuț), the Romanian-American who facilitated the sale of Alaska to the US. Despite his role in US history, the Romanian is largely unknown today, the Consulate noted. Pomuț was born in the Hungarian town of Gyula, […]
Shares of Cris-Tim Family Holding (BVB: CFH) began trading on the Bucharest Stock Exchange on November 26 after an IPO worth RON 454.35 million (EUR 89.3 million) conducted last month. Cris-Tim is now the largest entrepreneurial company in the food sector on the BVB Main Market. The funds raised from institutional and over 8,000 retail […]
