The European Commission has closed its in-depth investigation into Romanian support to petrochemical company Oltchim. In December 2018, the Commission found that Oltchim received around €335 million of incompatible aid in the form of: (i) non-enforcement of debts, (ii) debt cancellations, and (iii) continued supplies to Oltchim without payment. The Commission ordered Romania to recover this aid. In December 2021, the General Court found that the Commission had failed to demonstrate that two support measures - the non-enforcement of debts and the debt cancellations - constituted State aid and, therefore, partially annulled the 2018 Commission decision. As a consequence of the judgment of the General Court, the Commission's formal investigation remained open in respect of the two measures at issue. On 8 May 2019, Oltchim was declared insolvent and completely ceased its economic activity. As a result, the Commission's investigation has become without object and the Commission therefore closed its investigation.
The SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate […]
Kantar Romania launched, during an event dedicated to their clients, "The Trust Factor – Building Brands That Endure Uncertainty", the top 20 brands that manage to inspire the greatest confidence among the Romanian consumers, based on the analysis of 162 brands from 12 sectors*. In a period marked by uncertainty and skepticism, trust becomes the […]
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
