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.
The Nexus Gaming team, which represented Romania at the IESF World Esports Championship, defeated Portugal’s team in the final to become world Counter Strike 2 champions. The Romanian team is composed of experienced players Ciocardau, Xellow, BTN, Ragga, and Adron. During the IESF WEC24 championship, they defeated some of the strongest teams, many of which […]
Well-known American actor John Malkovich, who was on stage last week at the National Theatre in Timișoara, visited the city’s first official souvenir shop on Friday, November 15. The visit was announced by Timișoara mayor Dominic Fritz. "Even Hollywood has come to the new souvenir shop. We’re delighted that John Malkovich found high-quality mementos from […]
The CONFIDEX H2 2024 study shows a relatively stable year without major events that could significantly impact Romania’s economy, but leaves room for growing concern regarding the future. According to the study, supported by private equity funds ROCA, AGISTA, and CITR, the leader in Romania’s insolvency and restructuring market, only 29% of managers report optimism […]
Romanian president Klaus Iohannis was on a visit to Berlin from November 15 to 18 to signal the strong ties between Romania and Germany with a speech in the German Bundestag. He also met German chancellor Olaf Scholz and president Frank-Walter Steinmeier. During his speech, the Romanian president said that the friendship between the two […]
In a rapidly digitalizing world, companies face numerous challenges in managing documents and data efficiently. Andrei Negulescu, Strategic Digitalisation Manager at Matricia Solutions, shares unique insights into how his firm helps businesses navigate the complex journey of digital transformation. In today’s world, every business talks about digital transformation, but few know how to make it […]
The Bucharest National Airports Company, which operates the two main airports of the capital, wants to purchase 450 benches for passengers in the boarding gate area of the Henri Coandă International Airport, better known as the Otopeni Airport. According to the announcement, CNAB will purchase 250 three-seat benches and 200 four-seat benches. The contract is […]
