The European Directive on minimum statutory wage would push up the gross wages in Romania quite substantially: the minimum level would be hiked by RON 1,000 (EUR 200) to RON 3,500 (EUR 700), according to G4media.ro commenting on an interview given by MEP and former EU Commissioner Corina Cretu (Progressive Alliance of Socialists and Democrats). This can not have a negligible impact, and the investors have already warned of the massive negative impact in terms of jobs lost. On the other hand, the same effect (higher wages) is achieved by the workforce mobility and the investors’ complaints about “the lack of [chap] workforce” demonstrate this. Under the Directive, the minimum statutory wage will be calculated on a country-by-country base as 60% of the economy-wide average wage. The benchmark coincides with the poverty line - 60% of the average per capita income. The European minimum wage Directive is close to the final vote in the European Parliament. Some EU member states still oppose the Directive, including Sweden and Denmark; they say that it is not their governments that set the minimum wage, but that it is set through negotiations on collective bargaining agreements. The Directive was already voted in the Labor Committee of the European Parliament, and the vote in the plenary sitting could take place early next year, MEP Cretu explained for G4Media. In short, if applied, the minimum gross wage would increase in Romania. In the field of European funds, Cretu warned those who will take over the relevant ministry that the new Operational Programs must be concluded and approved by the European Commission and the Resilience Plan PNRR must be kicked off urgently - otherwise, Romania will lose huge amounts of money.
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
The European Bank for Reconstruction and Development (EBRD) is lending up to EUR 29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme. The Bank’s investment will fund the renovation of up to 20 public buildings, including […]
This festive season, JW Marriott Bucharest Grand Hotel invites guests to embrace the extraordinary and transform each moment into a lasting memory. On New Year’s Eve, the hotel unveils The Grand Countdown — a luminous celebration of new beginnings, thoughtfully crafted across four distinctive venues, each with its own character and atmosphere. The night begins […]
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over ArcelorMittal Tubular Products Iași (AMTP Iași) by Metinvest B.V. of the Netherlands, part of the Ukrainian steel and mining group owned by Rinat Akhmetov, New Voice of Ukraine reported last week. Metinvest has...
