Three out of four Romanians declare they are a little or not at all financially prepared, whih has impact on future financial prospects, according to a study made by BrandNarry and supported by the Romanian Commercial Bank, on the occasion of the World Savings Day. Moreover, the result analysis of financial education tests indicate not only a low level of knowing financial banking and economic concepts and terms, but also a low capacity of making simple mathematic calculations. 77% of participants did not exceed 50% of correct answers, while only 3.5% of respondents had a correct answer rate higher than 75%. The study pointed out that 40% of participants are not financially resilient and would not be able to ensure the same living standard as now, not even for a month in case, in an unhappy situation, they would be left without an income source. Only one out of five Romanians estimate they could preserve their present living standard for more than 6 months. The degree of financial literacy in Romania is only 8%, the lowest percentage in Europe. Over 50% of Romanians consider they are facing financial difficulties in everyday life. As for financial inclusion, most participants in the study declared they held and used a bank account (80.7%), a debit card (70%) and used online banking (70%). The survey revealed differences between gender groups concerning money. The report shows that women tend to concentrate on money handling practices, while men associate money to freedom and well being. These differences show the need for a more nuanced approach in public policies and in financial education programs which shouod take into account needs and promote a healthy and balanced relation with money for everybody.
The restructuring plan laid out by Liberty Galați was validated by the Galați Court on Friday, August 1, after having been approved by 52% of the ailing plant’s creditors last month. The plan, approved by creditors and confirmed by the Galați Court, sets out firm measures to restructure both the company’s operational activity and the […]
Animest, Romania’s leading animation film festival, returns to Bucharest this autumn with a special 20th anniversary edition. Running from October 3 to 12, the festival invites audiences to explore the theme of "the journey” - a metaphor for both its two-decade history and the personal, emotional paths traced through animated storytelling, the organizers said. Last […]
An article delving into the benefits of hydrotherapy, published by the famous US newspaper The New York Times, features a recommendation for six wellness centers, including Romania’s Therme center. According to the article, “studies show that immersion in water, hot or cold, can calm the nervous system, reduce joint pain and inflammation, stimulate circulation, lower […]
Plastic surgeon Tiberiu Paul Neagu, head of the Burns Center at Floreasca Hospital, one of the major hospitals in Bucharest, was dismissed on Monday, August 4, after a patient was transferred to Belgium following multiple multi-resistant hospital-acquired infections. The scandal broke out when a patient with burns over 70% of her body, who had been […]
The Buzău Land/Ținutul Buzăului UNESCO Global Geopark has received high praise from evaluators following a three-day official visit aimed at assessing its progress and determining whether the site will retain its UNESCO geopark status. The visit, conducted in June by Goran Radonic (Croatia) and Iván Cortijo Sánchez (Spain), concluded with positive feedback for the geopark […]
One United Properties (BVB: ONE), a publicly listed developer that has so far been focused on Bucharest, announced the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu. The site, located on the former FLARO industrial platform, offers significant potential for urban regeneration, according to company […]
