The European Commission approved, on Thursday, a scheme notified by Romania worth 126 million euros to support investments in ports, where trade flows have increased suddenly. The plan to grant state aid to the Danube and the Black Sea aims to prevent blockages on the route of the EU-Ukraine solidarity corridors. According to a EC press release, the measure facilitates commercial flows to and from Ukraine, in accordance with the objectives of the EU action plan for solidarity corridors. “This scheme worth 126 million euros will allow Romania to reduce the blockages created by the sudden increase in the volume of goods arriving at the ports on the Danube and the Black Sea. The aid will support port operators to process and store goods awaiting their turn, thus reducing the bottleneck caused by Russia’s war against Ukraine. This will contribute to the EU’s action plan for solidarity corridors, without unduly distorting competition in the single market”, said European Commission Vice-President Margrethe Vestager. Romania has notified the Commission of its plans to support businesses operating in certain Romanian ports to invest in additional handling or storage facilities to process goods that have been diverted from their normal trade routes due to Russia’s war against Ukraine and the impossibility to use Ukraine’s direct sea export routes. The scheme, with a budget of 126 million euros (approximately 626 million lei), will run until December 31, 2024.
The share of companies predicting a reduction in the number of employees in the upcoming year has increased to 11% in January 2025 from 2% same time last year, according to the HR Barometer survey conducted by PwC Romania. Fiscal measures taken by the government to reduce the budget deficit, such as the elimination of […]
The Veranda Mall shopping center, located near Bucharest’s busy Obor market, is up for sale and has reportedly caught the interest of real estate investors AFI Europe and M Core, Profit.ro reported. The mall is currently owned by the Pogonaru...
Romanian prime minister Marcel Ciolacu announced that a team of lawyers contracted by the government managed to block the sale of the painting Saint Sebastian by the renowned artist El Greco, which is part of Romania’s heritage. Ciolacu added that earlier this month, the government mandated lawyers to pursue the recovery through legal proceedings at […]
Romania’s eMAG and HeyBlu, a financial services company owned by the eMAG group, have announced the acquisition of Orange Money by taking over 100% of its shares. The transaction is part of eMAG’s strategy to expand and diversify its financial services, the company said. “The acquisition of Orange Money is part of eMAG’s strategy to […]
The Romanian Olympic and Sports Committee (COSR) announced the team for the European Youth Olympic Winter Festival (EYOF) Bakuriani 2025, which will take place in Georgia from February 9 to 16. Twenty athletes will compete in four disciplines, namely biathlon, alpine skiing, cross-country skiing, and snowboarding. The biathlon team comprises eight athletes, evenly split between […]
Only 28% of teenagers in Romania aged 11-15 engage in the minimum required level of physical activity and sports to maintain good health, according to a study conducted by the World Health Organization cited on High5 Podcast. Additionally, only 23% of them perform sufficient moderate and intense physical activities for their stage of development, which […]
