Representatives of the European Bank for Reconstruction and Development (EBRD) are currently working with Romania's Financial Supervisory Authority (ASF) on a mission to diagnose and assess the needs for supervisory technology solutions to be next adopted by the financial watchdog, ASF president Alexandru Petrescu announced on Tuesday."I am confident that we will reach a level of digitalization that will put us ahead of any possible incidents, of economic damage, so that the Authority will be more in a position to correct and recommend and less in a position to find various types of economic failures, to call them that," Alexandru Petrescu declared at the Stock Exchange listing ceremony of the bond issue of company Autonom.The mission represents a diagnostic exercise for the IT tools used in the insurance supervision activity. At the end of this consultancy project carried out with EBRD financing, recommendations based on similar practice will be made to improve the IT system needed for insurance supervision.Petrescu also spoke about the RON 98.6 million digital transformation project submitted for financing at the end of last year at the call for projects under the Smart Growth, Digitalization and Financial Instruments Program (PoCIDIF), Priority 2, and is intended to redefine the way ASF carries out its activity and interacts with the non-banking financial market.Once it is assessed and accepted for funding, the project titled "Digitalizing Access for Citizens and Companies to Investments by Ensuring a Sustainable Financial Market" will represent a significant step in modernizing and streamlining the regulatory, authorization, supervision and control tasks of the ASF, including petitions and alternative dispute resolution activities, as well as in the area of financial education.The initiative comes in response to the need for the digital transformation of internal work processes, identified in all of ASF's business functions, and to the new challenges in the process of adopting the European regulatory framework that supports the integration of new concepts regarding digital finance and sustainable finance.The general aim of the three-year project is to implement an integrated IT system that will support the ASF in its efforts to develop and diversify electronic public services to the business environment, public administration and the general public through internal, digitally optimised processes.At the same time, the implementation of this project will allow ASF to more promptly respond to the challenges of the permanently evolving financial market, as well as to the requirements to align with the key priorities arising from the European regulatory framework.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
