Representatives of the European Bank for Reconstruction and Development (EBRD) are currently working with Romania's Financial Supervisory Authority (ASF) on a mission to diagnose and assess the needs for supervisory technology solutions to be next adopted by the financial watchdog, ASF president Alexandru Petrescu announced on Tuesday."I am confident that we will reach a level of digitalization that will put us ahead of any possible incidents, of economic damage, so that the Authority will be more in a position to correct and recommend and less in a position to find various types of economic failures, to call them that," Alexandru Petrescu declared at the Stock Exchange listing ceremony of the bond issue of company Autonom.The mission represents a diagnostic exercise for the IT tools used in the insurance supervision activity. At the end of this consultancy project carried out with EBRD financing, recommendations based on similar practice will be made to improve the IT system needed for insurance supervision.Petrescu also spoke about the RON 98.6 million digital transformation project submitted for financing at the end of last year at the call for projects under the Smart Growth, Digitalization and Financial Instruments Program (PoCIDIF), Priority 2, and is intended to redefine the way ASF carries out its activity and interacts with the non-banking financial market.Once it is assessed and accepted for funding, the project titled "Digitalizing Access for Citizens and Companies to Investments by Ensuring a Sustainable Financial Market" will represent a significant step in modernizing and streamlining the regulatory, authorization, supervision and control tasks of the ASF, including petitions and alternative dispute resolution activities, as well as in the area of financial education.The initiative comes in response to the need for the digital transformation of internal work processes, identified in all of ASF's business functions, and to the new challenges in the process of adopting the European regulatory framework that supports the integration of new concepts regarding digital finance and sustainable finance.The general aim of the three-year project is to implement an integrated IT system that will support the ASF in its efforts to develop and diversify electronic public services to the business environment, public administration and the general public through internal, digitally optimised processes.At the same time, the implementation of this project will allow ASF to more promptly respond to the challenges of the permanently evolving financial market, as well as to the requirements to align with the key priorities arising from the European regulatory framework.
The European Commission has approved a payment of EUR 1.27 billion to Romania as part of the National Recovery and Resilience Plan (PNRR) funding worth some EUR 28 billion in total. The rest of the scheduled payment, totaling EUR 870 million, was suspended. Romania’s European funds minister, Marcel Boloș, announced that three objectives included in […]
The tech startups YellowGrid, WiseWatts and Procesio won CleanTech Corporate Hackathon 2025, the first event dedicated to innovators, startups and scaleups creating AI-based technologies and solutions for sustainable energy in South East Europe. YellowGrid, the team that won first place and the EUR 5,000 prize, is composed of Cătălin Stăncel, Sergiu Mureșan, Andrei Antohie and […]
Romanians' trust in the EU is well above the European average, but they occasionally show different priorities compared to those of most Europeans, according to the most recent Eurobarometer survey. The measurement, conducted in the winter and spring of 2025, shows an overall increase in European citizens’ trust in the EU, especially in the areas […]
Romania has dropped four positions in the global Startup Ecosystem 2025 report by StartupBlink. It is now ranked 48th worldwide, and has lost ground in Eastern Europe, where it dropped from 8th to 9th place, after Ukraine advanced one position and Greece two positions, surpassing Romania globally. However, Romania is now 16th in the global AI top […]
The Nufărul geothermal station in Oradea, developed through a European project worth EUR 25 million, was officially inaugurated on Thursday, May 29. The station is the first of its kind in Romania, and builders had to drill approximately 2,800 meters for water. “All extracted water comes to the geothermal station on Iancu de Hunedoara Street, […]
CTP, a leading developer, owner, and operator of industrial and logistics properties, has extended its collaboration with HelpShip, a major e-fulfillment and logistics provider within the euShipments.com group, increasing HelpShip’s leased space to 20,000 sqm at CTPark Oradea Cargo Terminal. The expanded facility will serve as the company’s main fulfilment center. With HelpShip’s growth from […]
