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.
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
Nearly nine in ten Romanians expect to spend less or no more than last year on Christmas shopping, according to a new survey by tbi bank that highlights the impact of rising prices on household budgets ahead of the winter holidays. The nationwide poll, conducted in October on a sample of 1,011 respondents, shows that […]
A total of 77% of homeowners who answered a survey by ING and Ipsos said they implemented measures in the past three years to improve energy efficiency. The need to save on energy bills was the main driver of household modernization, the survey showed. Most respondents (62%) said they did so to reduce energy costs, […]
