The European Commission on Friday announced having approved an up to EUR24 million Romanian scheme (RON 118.6 million) to support investments in sea and inland ports in the context of Russia's war against Ukraine.In a press statement released on Friday, the European Commission says that the scheme was approved under the State aid Temporary Crisis and Transition Framework, adopted by the European Commission on March 9, 2023 to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies. The new framework amends and prolongs in part the Temporary Crisis Framework, adopted on March 23, 2022 to enable the EU member states to support the economy in the context of the current geopolitical crisis, already amended on July 20, 2022 and on October 28, 2022.Romania notified to the European Commission under the Temporary Crisis and Transition Framework, an up to ?EUR 24 million (RON 118.6 million) scheme to support private port operators in the context of Russia's war against Ukraine.Under the scheme, the aid will consist of limited amounts of aid in the form of direct grants. The measure, partially funded through the cohesion funds, will support private port operators in order to enhance the functioning of the Ukraine-EU Solidarity Lanes.The aim of the measure is to overcome the shortcomings of the capacity of the ports' superstructure, among others for the procurement of equipment for short-distance transport of freight and the extension of storage capacities for temporary storage. It will also facilitate grains transport and transit via Romanian ports that need urgent support to handle the increased traffic flows of goods.The commission found that the Romanian scheme is in line with the conditions set out in the Temporary Crisis and Transition Framework. In particular, the aid will not exceed EUR 2 million per beneficiary, and it will be granted no later than December 31, 2023.It concluded that the Romanian scheme 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 Crisis and Transition Framework. On this basis, the Commission approved the aid measure under EU State aid rules.
The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]
The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]
Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives. The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]
Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages. The festival is staged in partnership with […]
More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat. In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]
The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]
