Last week, the European Public Prosecutor’s Office (EPPO) in Bucharest (Romania) charged three individuals with fraud, following an investigation into projects for the modernisation of irrigation systems, supported by the EU, https://www.eppo.europa.eu/ informs. The suspects, who are accused of unduly receiving an advance of €1.2 million, were informed of the charges and of their rights and obligations. At issue are three organisations, which obtained support from Romania’s Agency for Financing Rural Investments (AFIR) for four projects to modernise existing irrigation systems in the municipalities of Buc?ani, Galicea and Olanu, in Vâlcea County. The total amount of the grants for the four projects was approximately €4 million euros (RON 18 575 634,53), in non-reimbursable funds. An advance payment of €300 000 euro (RON 1 399 050.50) was made for each of the four projects. Our investigation showed that false or inaccurate documents were used for the four projects, both when they were submitted to obtain funding and during their execution. Moreover, based on the evidence, the beneficiaries of the funds used the majority of the advance payment for their own benefit, and not for the purpose for which they had been granted. The investigation is ongoing, in order to ascertain the extent of the suspected criminal activities. The European Public Prosecutor’s Office (EPPO) is the independent public prosecution office of the European Union. It?is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.?
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
