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.
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
