The European Commission decided to open an infringement procedure (INFR(2024)2247) by sending a letter of formal notice to Romania for incorrect transposition of the Mortgage Credit Directive (Directive 2014/17). The purpose of the Directive is to create an efficient and competitive single market for consumers, creditors, and credit intermediaries with a high level of consumer protection in the field of mortgage credit. The Directive requires that credit intermediaries authorised in other Member States to operate in Romania, either remotely or through a local branch. They can do so based on their authorisation in their home Member State and without any additional authorisation or registration by the Romanian authorities. The Commission considers that Romania has not properly transposed these aspects of the Mortgage Credit Directive. The Commission is therefore sending a letter of formal notice to Romania, which now has two months to respond and address the shortcomings raised by the Commission. In the absence of a satisfactory response, the Commission may decide to issue a reasoned opinion.
Romania's opposition party Save Romania Union (USR) has called on defence minister Angel Tîlvăr to clarify how a company with alleged ties to Russian oligarch Oleg Deripaska was awarded a contract for the construction of NATO's largest military base in Europe at Mihail Kogălniceanu. The party has raised concerns over national security and urged an […]
According to the global leading index provider FTSE Russell, all 11 Romanian companies included in FTSE Global All Cap and FTSE Global Micro Cap indices, dedicated to Emerging Markets, kept their places within these global indices. Moreover, the shares of Aquila Part Prod Com (AQ), Arobs Transilvania Software (AROBS), and Sphera Franchise Group (SFG) companies […]
Vodafone Romania has completed the full acquisition of iSys Professional Ploiești, a provider of car fleet monitoring solutions operating under the iTrack brand, according to Profit.ro. The company's services will be integrated into Vodafone's...
Danish renewable energy developer Eurowind Energy has completed the installation of eight Siemens Gamesa SG 6.6-170 wind turbines at the Pecineaga wind farm in Constanța County, marking the deployment of the largest wind turbines in Romania, according to Economica.net. The turbines, each with a 170-meter...
The Romanian banking system’s aggregated profits increased by 5.4% y/y to RON 14.0 billion (EUR 2.8 billion) in 2024, after it contracted by 19.2% y/y to RON 2.35 billion (EUR 473 million) in Q4, according to calculations based on profitability ratios published by the National Bank of Romania (BNR). The return on assets (ROA) ratio […]
Romanian prime minister Marcel Ciolacu said on Monday, February 24, that a "lasting peace" in Ukraine cannot be achieved without the involvement of the United States, and argued that Romania does not have to choose between it and the European Union. The statements come as the Trump administration is currently negotiating a resolution to the […]
