The Government approved on Wednesday, by decision, the granting of state aid to the Oltenia Energy Complex (CEO) worth over 279 million lei to finance the expenses with greenhouse gas emission certificates for this year.According to a Government's press release, the granting of this state aid for restructuring was approved, in the form of a grant, intended to finance the expenses with greenhouse gas emission certificates for 2025 and compliance with legal environmental obligations by the company."This measure is part of a larger plan, approved and monitored at European level, for the restructuring of the company, which provides for a total allocation of grants worth 1.090 billion euros for the period 2021 - 2025. This CEO restructuring plan was authorized by the European Commission in January 2022," the press release informs.To date, the Oltenia Energy Complex has received grants totaling 946.4 million euros for the acquisition of greenhouse gas emission certificates in 2021, 2022, 2023 and 2024. The total authorized state aid, in the form of a grant, for 2025, is worth approximately 705 million lei, the Government informs.According to the press release, the state aid granted to CEO is essential for maintaining the company's viability and complying with the commitments assumed in the Restructuring Plan authorized by the European Commission. (Photo:https://www.facebook.com/)
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
