Most companies in Romania are at risk, because of changes in the green agenda, which generate about 40% of gross VAT in economy and hold about 50% of shares in economy, said Florian Neagu, deputy manager in the Financial Stability Department of the National Bank of Romania (BNR) at a conference on Thursday. “Romanian economy has not adapted and authorities have not had an outlook to enter this new European green agenda. We lack an industrial policy for more than a decade. There is no industrial polocy which should focus the authorities' outlook and boost certain development domains. Finally there is the risk of not benefiting from these new opportunities and paying especially costs that come associated with changes of climate agenda. Another vulnerability is that in Romanian economy most companies are at risk, following changes coming from the green agenda. According to our calculations , those companies generate about 40% of gross VAT in economy and hold about 50% of all shares in economy. So this transition should take place in orderly fashion,” Neagu said. The BNR specialist considers that authorities should be aware of the fact that carrying out the transition process to green economy can bring positive results and development opportunities. “That is why, if we draw a line between opportunities and challenges, this green transition process should normally bring a positive result. In case we are not aware of opportunities, or vulnerabilities, there is the risk of paying the price without significantly benefiting from opportunities,” Neagu pointed out. CFA Association Romania, in partnership with the Association of Financial Banking Analysts in Romania, the Treasurers' Association in Romania and ACI Romania, organized on Thursday the conference “Sustainable Finances: how to finance change”.
Daniel Christian Hulea, a Romanian man accused of contributing to the NetWalker ransomware attacks, has been sentenced to 20 years in prison after pleading guilty to conspiracy to commit computer fraud and wire fraud, according to a public announcement from the US Department of Justice. NetWalker was a Ransomware-as-a-Service operation launched in 2019, which recruited […]
The new Romanian government, headed by the same Social Democratic prime minister, Marcel Ciolacu, recently made its governance program public. Among its objectives are reducing the level of bureaucracy, maintaining the flat tax rate, and reducing the budget deficit to 7% in 2025. To reach its goals, the government reduced the number of ministries to […]
The European Commission (EC) announced on Monday, December 23, that it disbursed payments under the Recovery and Resilience Facility (RRF) to Czechia, Germany, Italy, Portugal, and Romania, totaling EUR 26.8 billion in loans and grants. Under this latest disbursement, Romania received EUR 37.05 million as part of its second payment request. By comparison, according to the...
Romanian film trilogy Moromeții, directed by Stere Gulea, will be presented at the 54th edition of the Rotterdam International Film Festival, taking place from January 30 to February 9, 2025. This renowned European event, which annually presents hundreds of films across more than 20 sections, will feature the three films - Moromeții (1987), Moromeții 2 […]
Romania issued state aid worth EUR 1.3 billion during 2019-2023, with 62% of the projects being granted to foreign companies, according to an analysis conducted by EY Romania. The sectors that benefited the most from aid were the automotive industry, technology, manufacturing (light industry), medical industry, and the food and beverage industry. According to the […]
The Abracadabra – Secrets of Magic interactive exhibition will transform Arcub – Hanul Gabroveni in Bucharest into a magical universe starting December 27, 2024. Running until May 4, 2025, the event offers visitors the opportunity to explore a labyrinth of magic, featuring over 20 interactive attractions and more than 500 live performances by MAGITOT and […]
