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.
Romania’s Cătălina Ponor is one of the four gymnastics legends to be honored at the 28th annual International Gymnastics Hall of Fame (IGHOF) induction ceremony on May 17, according to an official announcement. The event will be held at the Petroleum Club in Oklahoma City. The 2025 IGHOF inductees are Beth Tweddle, Andreas Wecker, and […]
Value vouchers contributed over RON 32 billion to Romania’s Gross Domestic Product in 2023, which represents more than 2% of the national GDP. According to a study conducted by the Bucharest University of Economic Studies (ASE), value vouchers, including meal vouchers, holiday vouchers, gift vouchers, and cultural vouchers, have played an essential role in supporting […]
The European Bank for Reconstruction and Development (EBRD) has committed EUR 15 million to Morphosis Capital Fund II, a private equity fund supporting small and medium-sized enterprises (SMEs) and lower mid-market companies in Romania and across Central and Eastern Europe (CEE). Managed by Morphosis Capital Partners, the fund aims to provide equity financing as an […]
Simtel Team (SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange and one of the national leaders in renewable energy in Romania, aims to issue corporate bonds worth EUR 30 million. The company’s management has convened the Extraordinary General Meeting of Shareholders for April 24-25, to request approval […]
About 46% of Romanians believe that what they currently buy is only the bare minimum to ensure their daily living due to inflation. In the last month, Romanians spent the most on food products (89%), utilities (82%), personal hygiene products (73%), home care products (67%), and medicines or supplements (66%), according to a Reveal Marketing […]
The Bucharest office market recorded its lowest level of deliveries in two decades in 2024, with only one major project completed, according to the annual report published by Colliers. Total rental demand fell by 18% compared to the previous year, but new demand remained at a similar level to 2023. At the same time, more […]
