The Commission has decided to open infringement proceedings against Croatia, Finland, Greece, Latvia, Luxemburg, Portugal, Romania and Spain because they did not correctly transpose correctly the EU rules on the fight against fraud to the Union's financial interests by means of criminal law (Directive (EU) 2017/1371). These rules, which are part of the Commission's overall anti-fraud strategy, protect the EU's budget by harmonising the definitions, sanctions, jurisdiction rules, and limitation periods related to fraud and other offences affecting the EU's financial interests. A proper transposition of those rules by the Member States is necessary to enable the European Public Prosecutor's Office to conduct effective investigations and prosecutions. The deadline to transpose the Directive into national law expired on 6 July 2019. In its transposition report on the Directive on 6 September 2021 the Commission identified a number of compliance issues. It shows that improvements are necessary, notably to ensure the consistent transposition of the definitions of criminal offences and the liability of – and sanctions for – legal persons and natural persons. The eight Member States notified by the Commission today now have two months to clarify the measures they have taken to ensure the correct and complete transposition of the Directive.
Exim Banca Romaneasca diversifies its product portfolio and launches the Mastercard World card in EURO, a tool that enhances the payment experience for people who travel or work abroad, offering premium advantages, benefits, and rewards. The new EURO card from Exim Banca Romaneasca has as its main advantage the reduction of costs associated with transactions...
A report by cybersecurity company Refute uncovered a large-scale international influence operation targeting Romanian diaspora voters on TikTok ahead of the second round of Romania’s presidential elections on May 18. The report identifies approximately 32,500 TikTok videos containing slogans promoting the populist candidate George Simion and former candidate Călin Georgescu. Many of these videos are […]
Romania's gross domestic product (GDP) remained largely unchanged in the first quarter of 2025 compared to the previous quarter, according to flash estimates published on May 15 by the National Institute of Statistics (INS). The economy recorded a growth of 0.2% in gross series and 0.5% in seasonally adjusted series compared to the same quarter of […]
Iulius Mall Suceava has officially inaugurated its EUR 40 million expansion that transformed it into “the largest retail and entertainment hub in northern Romania,” according to the official announcement. Developed by IULIUS and Atterbury Europe, the project adds 16,500 sqm of new retail space, bringing the mall's total area to 60,000 sqm. The expansion introduces […]
The European Bank for Reconstruction and Development (EBRD) announced the launch of the second edition of its Star Venture program in Romania this week, following a first edition in 2022. The program provides high-potential startups with business expertise and access to finance. After the round of applications, 10 promising startups were shortlisted to showcase their […]
Non-profit BookLand started building last year a pre-university, dual-system campus in the village of Vultureşti, in southern Romania’s Argeş county. The campus will train pupils in various specializations, allowing them to work in industries ranging from hotels & restaurants to retail and food. More on how the project got off the ground and what it […]
