The Senate and the Chamber of Deputies meet today in a joint session to vote on a government put forth by Prime Minister-designate Nicolae Ciuca.The joint plenary sitting starts at 10:00hrs.Prime Minister-designate Nicolae Ciuca will unveil a governing agenda and a list of the members of his Cabinet. Debates will take place, followed by Parliament's vote of confidence on the agenda and the entire Cabinet list.According to the Constitution and the Rules of Procedure, Parliament shows its confidence in the government by a vote of the majority of the MPs and senators in a secret ballot.At least half plus one of the members of the two houses of Parliament must be in attendance.In order to clear the vote, the Ciuca Government needs 234 for votes. But the Ciuca Cabinet is endorsed by the Social Democratic Party (PSD), the National Liberal Party (PNL), the Hungarian Democratic Union of Romania (UDMR) and national minority MPs, all holding 321 seats among themselves, which ensures a comfortable majority.On Tuesday, Ciuca submitted to Parliament the list of ministers and a governing agenda. On Wednesday, the picks for the Ciuca Cabinet were heard by the specialists committees of Parliament, and all of them cleared the hearings. The opinion of the committees is consultative.In case of adoption, the decision of Parliament on extending its vote of confidence will be forwarded immediately to the head of state to proceed with the appointment of the government.After the government receives the vote of confidence from Parliament, the prime minister and the ministers will take the oath of office individually before the President of Romania.The government as a whole and each member will be considered in office from the date of taking the oath.
Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange, announced on Thursday, June 19, that the Romanian Financial Supervisory Authority has approved the base prospectus for a corporate bond program of up to EUR 30 million. The program allows Simtel to issue bonds in multiple tranches […]
Romania's efforts to stabilize its fiscal position and finalize a new ruling coalition have been delayed after president Nicușor Dan rejected a proposed VAT rate increase central to a budgetary corrective package agreed by the four pro-Western parties,
A sword that may date back to the Bronze Age, roughly 3,500 years ago, was found following searches carried out in a case of aggravated theft, in the commune of Corbasca, Bacău County. The searches targeted the home of a 61-year-old man suspected of illegally possessing a cultural asset likely to be part of the […]
The construction works volume in Romania decreased by 0.5% y/y in gross terms and by 2.8% in workday and seasonal adjusted terms in April, after it boasted a robust 10.6% y/y advance in Q1 (largely on low base effects), according to data published by the statistics office. By type of construction, engineering works—representing approximately 45% […]
Romania's economic sentiment rebounded sharply in May following the presidential election victory of pro-Western candidate Nicușor Dan, according to data published by the CFA Romania Society on June 19. The recovery comes after a significant decline in April amid fears of a potential win by isolationist candidate George Simion. After the recovery in May, the […]
Salt Bank has appointed Vikram Tikoo as its new Chief Technology Officer, marking a significant step forward in the company's pursuit of its digital banking vision. The appointment will take effect once approved by the National Bank of Romania. Vikram has extensive international experience delivering technology solutions on a global scale. He will help enhance […]
