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.
Homedit, a Romanian brand of premium furniture and home décor, announces the official opening of its first showroom, located in an interwar house in central Bucharest ("The Bamboo House”, located at No.3, Dumbrava Roșie St.). With a total investment of approximately EUR 12 million, the business was founded in 2016 as an online store by […]
The 32nd edition of the Sibiu International Theatre Festival (FITS) begins on Friday, June 20, bringing over 5,000 artists from 82 countries to the city. The events will take place over ten days and will transform the city into an "open-air stage, with large-scale productions, impressive installations, parades, fire shows, live music, aerial dances, and […]
The well-known science and nature channel Discovery is currently marking four decades since its global launch in 1985 with a special series titled "Discovery Changed My Life,” bringing testimonies from personalities whose vision was shaped by Discovery. Among those featured is also Romanian mountaineer and conservationist Alex Găvan. The series premieres on Sunday, June 22, […]
Meta Estate Trust (MET), a holding company operating in the real estate sector, has invested approximately EUR 2 million in a new retail park currently under development in Ciolpani, a commune located on the Bucharest–Ploiești corridor (DN1), it said. The project is scheduled to be completed and handed over to tenants this year, with an […]
Romania benefits from a series of favorable factors that facilitate the growth and expansion of data center capacity and could emerge as a developing market, according to an analysis conducted by the real estate consultancy company Cushman & Wakefield Echinox. A diversified energy mix, with over 50% of energy production coming from renewable sources, along […]
The German company DEHN, a manufacturer of electrical engineering solutions for critical infrastructure, including lightning and surge protection, as well as safety equipment, will open a production site in Piteşti, southern Romania. The facility, the company's first in the country, will expand its capacities to serve customers in Europe. It fits seamlessly into the company's […]
