The European Commission has approved a €358 million (1.772 billion RON) Romanian scheme to support small and medium-sized enterprises (‘SMEs') affected by the coronavirus outbreak and the restrictive measures that the Romanian government had to implement to limit the spread of the virus. The public support was approved under the State aid Temporary Framework. Under the scheme, the aid will take the form of direct grants for investments in productive activities, up to a maximum amount of €1 million (4934.3 RON) per beneficiary. The scheme will be open to SMEs active in sectors particularly affected by the coronavirus outbreak, such as processing industry, construction, wholesale and retail trade, repair of motor vehicles and motorcycles, transport and storage. In order to be eligible, companies must have been established in Romania by 31 December 2018 and must have recorded operating profits over 2019. The scheme is expected to benefit 4,000 companies. The Commission found that the Romanian scheme is in line with the conditions set out in the Temporary Framework. In particular, the aid (i) will not exceed €1.8 million per beneficiary; and (ii) will be granted no later than 31 December 2021. The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measure under EU State aid rules.
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 […]
