The European Commission approved on Thursday, according to EU norms about state aid, the reintroduction of Romania's short term export credit, with a budget of 7.2 million euros, according to a press released of the European Executive. The Romanian state can cover risks supported by small companies with a small business figure made from exports and risk of single export transactions. Initially, the plan was approved in August 2014, extended in February 2017 and made to expire in December 2021. In February 2022, Romania notified the intention to reintroduce the plan, which would last until December 31, 2026. The maximum annual business figure for export for small companies to be eligible was established at 2.5 million euros (on the rise by 0.5 million euros compared to the initial plan). The commission evaluated the plan according to EU norms about state aid, especially the 2021 Communication about short term export credit. The EU Executive decided that the measure is necessary because there are no insurance products to cover the risk of non payment by foreign buyers for small companies with small business figures from export, or private insurers to cover export transactions. The Commission concluded that the plan is proportional, as it made sure that Romania will cover only transactions for which private covering is not available in the market and make sure that private insurers are not excluded, in case they want to cover such risks. In December, EC adopted a reviewed Communication about insuring short term export credits which establishes norms to make sure that the support granted by the state for export credits do not affect competition between private and public export credit insurers and set up competition conditions between exporters from various member states. Export credits allow foreign buyers of goods and services to delay payment. This delay involves a credit risk for sellers, which in their turn get insurance for this risk. The reviewed communication about short term export credits came into force on January 1,2022, without expiry term.
Cambridge School of Bucharest (CSB) has been shortlisted for the Student Mental Health Initiative of the Year category in the Tes Awards for International Schools 2025, becoming the only school in Romania to appear on this year’s shortlist. The nomination recognises CSB’s pioneering, student-led approach to promoting well-being across the Secondary School and reflects the […]
The Romanian Film Festival UK (RFF25UK) begins this week with a program showcasing a selection of new and archive Romanian feature films, documentaries, and shorts. The festival will open with the UK premiere of Traffic, Romania's 2026 Academy Awards entry. The film is directed by Teodora Ana Mihai from a screenplay by Palme d'Or–winning filmmaker […]
The government is preparing a major overhaul of state-owned companies, deputy prime minister Oana Gheorghiu announced on Monday, November 24, unveiling plans for a unified registry and initial reforms targeting 10 key enterprises. According to her, Romania currently has 1,502 state-owned companies, including 230 at central level and 1,272 under local authorities. Among central entities, […]
Two Romanians reportedly forced open an emergency exit and ran after the plane that was preparing to take off for Bucharest from Cologne, southwestern Germany, on Friday, November 21. The two, aged 28 and 47, were late for boarding, at which point they broke an emergency window and activated a button to open a secured […]
NOËL, the longest-running designer gift fair in Romania, will hold its 16th edition on December 13–14 at Unirea Shopping Center in Bucharest. The event will feature more than 100 designers presenting handmade and curated gifts, including unique pieces, capsule collections, and seasonal items. The fair will host creators from Romania as well as artists from […]
Romania will celebrate its National Day on December 1 with a large military parade in Bucharest featuring Romanian and allied troops. The event will also showcase an extensive display of military equipment and aircraft at the Arch of Triumph. More than 2,900 servicemembers and specialists from the Ministry of National Defense, Interior Ministry, Romanian Intelligence […]
