President Klaus Iohannis signed on Thursday the decree for the promulgation of the Law on certain fiscal-budgetary measures to ensure Romania's long-term financial sustainability, the Presidential Administration informed.On September 26, the Government pledged responsibility for this package of measures.The package of fiscal measures aims to reduce "budget waste" and to put an end to the way in which "the powerful and with a lot of money thought they were untouchable", prime minister Marcel Ciolacu said on September 26.On September 29, Save Romania Union (USR), Forta Dreptei and two National Liberal Party (PNL) MPs signed the notification to the Constitutional Court of Romania regarding the package of laws that the Government has committed to responsibility in Parliament.On October 18, Romania's Constitutional Court rejected the complaint, its president Marian Enache explaining at that time that the procedure for adopting the law on fiscal and budgetary measures, by engaging the responsibility of the Government, respected the requirements of the Constitution and the jurisprudence of the Constitutional Court.
Tunnelling machines completed the first tunnel segment between the future Tokyo and Băneasa Airport subway stations on Tuesday, August 19. The segment is part of the line connecting central Bucharest to its main airports - Băneasa and further on to Otopeni - in the north of the city. Romanian transport minister Ciprian Șerban, who visited the […]
RetuRO, the operator of Romania’s Deposit-Return System - SGR, has launched a pilot project in two of the capital’s parks that lets people leave their bottles, PET containers, and cans in special compartments attached to public trash bins so others can collect them and reclaim the deposit. The initiative, now in place in Kiseleff and […]
UniCredit announced that it finalized the merger of its Romanian subsidiary with Alpha Bank Romania, creating one of the largest financial institutions in the country and marking a new milestone in the group's growth strategy. The newly combined bank has 11% market share in assets, 13% in loans (UniCredit Consumer...
Romania's largest ruling party, the Social Democratic Party (PSD), broadly agrees with the reforms proposed by prime minister Ilie Bolojan (Liberal Party PNL), although there are some details still to be tackled, PSD interim president Sorin Grindeanu said after the party leadership's weekly meeting of August 18,
Romanian retail chain Annabella, developed by local entrepreneurs, took over 82 Profi stores and 5 Mega Image stores in a deal aimed at facilitating the expansion of the Mega Image retail chain that took over Profi from MidEuropa Partners for EUR 1.3 billion, Profit.ro...
The new tax on shifted profit proposed by the government is significantly impacting the attractiveness of Romania as a destination for foreign investments, and it is far more restrictive than the similar regulation in Poland, mentioned by the authorities as a source of inspiration, according to a report drafted by PwC. The consultancy firm salutes […]
