The governing coalition is preparing an emergency ordinance to support the employees of the companies targeted by the sanctions against Russia, the Minister of Labor and Social Solidarity, Marius Budai, declared on Wednesday, at the end of the Government meeting."We are preparing an emergency ordinance at the coalition level that will have provisions for furlough. We have already convened a social dialogue committee at the Ministry of Labor strictly for this matter. It seems that there are solutions and I introduced an article in the emergency ordinance for furlough with a certain derogation. So there are solutions, as we have identified, for the payment of unemployment, there will certainly be solutions for salaries. When the social dialogue committee is over, you will certainly receive information. There are solutions, people should not panic. This ordinance is on the agenda of the coalition meeting and I hope that if not Friday, then I hope next week we will have it in the Government. I proposed this ordinance to the coalition because there is this danger of closing production capacities due to the crisis in Ukraine, Russia and Belarus," said Marius Budai.On the other hand, the Minister of Labor stressed that it is out of the question for pensions to decrease next year, after the entry into force of the increase to 4.75% of the percentage transferred to Pension Pillar II.At the same time, the Minister of Labor specified that he does not support the proposal to reduce the social security contributions by 5%."I do not support it. Because that transfer to Pillar II will deprive Pillar I with a certain amount, and I do not think it is time to skim Pension Pillar I any further. (...) I re-discussed with the unions, the three that have called me so far, informed me that they do not support the reduction of CAS, motivated by the current economic situation and the removal of a sum of money from Pillar I," added Marius Budai.
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
