* The Commission’s Joint Research Centre published on 18 July its report entitled ‘Drought in Europe — July 2022’, which presents an assessment of the drought situation in Europe, building on the work of the European Drought Observatory. Analysis of the evolution and impact of prolonged drought in the EU shows that a worrying part of the territory is currently exposed to drought at levels of warning (46 % of the EU) and alert (11 % of the EU), associated with a shortage of soil moisture causing stress on plants. Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth said: “Climate change increases the risk of severe drought and wildfires around the world. The Joint Research Centre puts science and technology at the service of monitoring climate change. Through this report, we better understand the situation in order to protect our forests, crops and waters.” Water and heat stress leads to a decrease in crop yield compared to previous negative forecasts for cereals and other crops. France, Romania, Spain, Portugal and Italy are likely to face this decline in crop yields. To a certain extent, Germany, Poland, Hungary, Slovenia and Croatia are also affected. In Italy, the Pad basin has the highest level of drought severity. Severe drought was declared in five regions of Italy and insufficient water available led to several restrictions on use in municipalities. Similar measures to limit water use have also been taken in France.
Romania’s profit share, defined as the proportion of value added distributed by non-financial corporations to capital rather than labour, fell for the second consecutive year to 48.1% in 2024, Eurostat reported on December 7. The ratio was 40.0% on average in the European Union, with below-average ratios in more developed countries such as France (32.2%) […]
The pension law "brutally violates the independence of the judiciary" and "de facto eliminates the service pension for magistrates," according to the reasoning published by the High Court (ICCJ) along with its decision to refer the magistrates' pensions law to the Constitutional Court, Ziarul Financiar reported. ...
The Romanian state, in a document on December 5, expressed its intention to take full control of the National Airports Company of Bucharest (CNAB), which operates Otopeni Airport and Baneasa Airport, where the minority shareholder Fondul Proprietatea has a 20% stake, Ziarul Financiar reported. The...
Romania's Interministerial Committee for Supporting the Implementation of Reform 9 (CNR9), led by deputy prime minister Oana Gheorghiu, has selected 17 state-owned enterprises from a total of about 1,500 to undergo initial screening ahead of potential restructuring or liquidation. The decision marks the first stage of a wider overhaul programme announced by prime minister Ilie […]
The retail sales volume index in Romania recovered for the second consecutive month in October, when it increased by 0.9% m/m after the 1.3% m/m advance in September – but it was far from fully recovering the 4.0% m/m plunge seen in August as an effect of higher VAT rate enforcement amid already negative consumer […]
Romania’s total market production index (TMPI), a composite indicator compiled by Eurostat that combines four short-term business statistics indicators covering most of the market economy, increased by 4.2% y/y in Q3 - the sharpest rise in seven quarters (+0.3% y/y in Q2) and twice the 2.1% average advance in the European Union. The seasonally-adjusted index […]
