The government approved, on Thursday, the amendment of the Agreement on the Strategic Partnership between the governments of the Republic of Azerbaijan, Georgia, Romania and Hungary in the field of Green Energy Development and Transport, introducing provisions according to which the law of the European Union and the obligations of Hungary and Romania, resulting from their membership of the EU, have priority over the obligations in the agreement.According to a press release from the government, the memorandum approved in this regard provides for the negotiation and signing of a Protocol for the amendment of Article 6 of the Agreement on the Strategic Partnership between the governments of the Republic of Azerbaijan, Georgia, Romania and Hungary in the Field of Green Energy Development and Transport, being clarified "some aspects regarding to the compatibility with the legislation of the European Union"."Thus, at the request of the European Commission, Article 6 of the agreement is amended, introducing provisions to ensure that EU law and the obligations of Hungary and Romania resulting from their membership of the EU take precedence over the obligations provided for in the agreement," states the quoted source.This Agreement was signed on December 17, 2022 and aims at "long-term cooperation in the field of energy, the expansion of relations in new fields for the common benefit, underlining the growing importance of new energy infrastructure initiatives, which will contribute to the diversification of energy supply and routes of transit in the regions of which they are a part," the press release reads.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
