The European Commission has closed its in-depth investigation into Romanian support to petrochemical company Oltchim. In December 2018, the Commission found that Oltchim received around €335 million of incompatible aid in the form of: (i) non-enforcement of debts, (ii) debt cancellations, and (iii) continued supplies to Oltchim without payment. The Commission ordered Romania to recover this aid. In December 2021, the General Court found that the Commission had failed to demonstrate that two support measures - the non-enforcement of debts and the debt cancellations - constituted State aid and, therefore, partially annulled the 2018 Commission decision. As a consequence of the judgment of the General Court, the Commission's formal investigation remained open in respect of the two measures at issue. On 8 May 2019, Oltchim was declared insolvent and completely ceased its economic activity. As a result, the Commission's investigation has become without object and the Commission therefore closed its investigation.
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
Cătălin Chimir, founder and managing director of construction management company SENARIA, discusses the challenges and opportunities in Romania’s construction and real estate sectors and shares valuable insights on how to maximize project profitability and avoid common mistakes. Despite a stable demand for development, the Romanian construction market remains fragile due to factors like labor shortages, […]
Hoinar.Odyssey, the eighth edition of the classical music festival, explores in 2025 the theme of travel. It proposes a concept that brings together classical music, jazz, electronic sounds, contemporary theater, a musical, and new literature. The event, scheduled to take place between May 15 and May 20 at the ACT Theatre and the Romanian Athenaeum, […]
