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Ten years of presidency ended with a resignation

Ten years of presidency ended with a resignation, with Klaus Iohannis thus ending his two terms not in glory, but in disgrace. On February 10, the former president announced his resignation in order to avoid a political crisis generated by the...

Bogdan Chiriţoiu said: "The energy market must be able to function normally, without capping. Energy prices are now stabilized compared to those existing a year and a half ago, and under these conditions, the Government should withdraw the exceptional measures from the market. However, I believe that we must look carefully at vulnerable consumers, to determine exactly who they are, but also at the industry, its needs, at energy-hungry companies, whose activity may be negatively impacted by the lifting of the cap, companies that could lose their competitiveness due to the abandonment of this exceptional measure".

Chiriţoiu: "The takeover of E.On Romania assets by the hungarian company MVM will end up on the table of the CSAT"

The transaction through which the Hungarian company MVM wants to take over the assets of E.On in our country will end up on the table of the Supreme Council for National Defense, said Bogdan Chiriţoiu, president of the Competition Council,...

Debt, deficit, political instability: Fitch revises Romania's outlook to negative

The second half of 2024 represented a critical turning point for Romania's economy and political stability. In an attempt to counter the ever-expanding budget deficit and ensure macroeconomic balance, the government implemented a series of...

Minister of Finance, Tanczos Barna and Prime Minister Marcel Ciolacu

Prime Minister Marcel Ciolacu promises a prudent budget with a 7% deficit

Prime Minister Marcel Ciolacu declared yesterday, after the meeting with Deputy Prime Minister Tanczos Barna, Minister of Finance, that the budget for the current year will be built with caution, so as to fall within a 7% deficit, according to...

"The final consumer's bill will be indirectly affected by the introduction of the pillar tax"

Reporter: How did 2024 end for energy suppliers, and what are the prospects for 2025?

Călin Georgescu - blocked on the way to Cotroceni

The end of the calendar autumn was marked by the presidential and parliamentary elections that took place on November 24 and December 1. For this reason, in order to increase its chances before the election and to maximize the chances of its own...

Republic of Moldova on the brink of an energy crisis

The Prime Minister of the Republic of Moldova, Dorin Recean, yesterday asked the Parliament in Chisinau to declare a state of emergency in the energy sector for a period of 60 days. The decision comes against the background of the risk of ceasing...

The Energy Strategy for the next decade, approved by the Government

The Government adopted the new Energy Strategy of Romania 2025-2035, with the perspective of 2050, a programmatic document that establishes six essential strategic objectives for the sustainable development of the national energy sector: energy...

Poland allocates $1.33 billion for electricity price cap

The Polish government will extend the electricity price cap for household consumers for the first nine months of 2025, Reuters reports.

Photo source: https://www.europarl.europa.eu/portal/ro

Roxana Mînzatu passes the specialized commissions and awaits the vote of the European Parliament

Roxana Mînzatu, our country's proposal for the position of European Commissioner, successfully passed her hearing yesterday by the members of the Civil Liberties, Justice and Internal Affairs (LIBE), Labor Force and Social Affairs (EMPL),...

Bogdan Chiriţoiu declared: "I think it is clear that there will be less money in the future, that we will not be able to maintain budget deficits of 7% - the highest in the EU - because European rules do not allow us to do that. It is risky to have a large budget deficit in the event of a major economic crisis such as the one that occurred in the period 2008-2011"

Free, competitive market - essential condition for economic growth

The free market, without government restrictions, and governed by the rules of fair competition, is the essential condition for the economic growth of our country in the coming years, stated the participants at the conference "Competition in...

From chemical pollution and unsustainable agricultural practices, to the effects of climate change and overexploitation of water, all these challenges require firm and swift action. The AEM report is both a wake-up call and a call to action.

Europe in crisis: water health at risk

Water is one of the vital resources of life which is heavily affected by pollution.

Among the main measures provided for in this draft ordinance is the direct purchase of shares by the relevant ministries in the companies in which the state holds the status of shareholder.

Government blocks hostile takeovers of energy companies

The dependence of our country on energy imports, in certain periods, and the need for capitalization of companies in the energy sector, so that they can increase the energy production capacity at national level, are the reasons why the Ministry...

"Redefine Alcohol" - the WHO campaign, criticized in Europe

The World Health Organization (WHO) is "an incompetent and corrupt organisation", claims Dr Christopher Snowdon, Head of Lifestyle Economics at the Institute of Economic Affairs, as quoted by news site brusselssignal.eu. Christopher...

Balancing the energy market: the impact of volatile prices on bills

The publication by Transelectrica of the prices regarding the energy balancing market displeased the electricity suppliers, who found that, although they sell a megawatt (MW) for 400 lei, they have to pay a balancing price of 1890 lei/MW. Among...

Piperea: "The law capping interest on IFNs has big differences compared to the original draft"

The law capping interest on loans granted by non-banking financial institutions (IFNs) and debt collectors has, unfortunately, big, essential differences compared to the original draft, lawyer Gheorghe Piperea, current MEP, who wrote the draft...

The Energy Strategy foresees investments of 16 billion euros from European funds

The Ministry of Energy launched, on Friday, in public consultation, the project of Romania's Energy Strategy for the period 2025-2035, with the perspective of 2050, a document that foresees investments of 16 billion euros from European funds....

Dangers to human health: tobacco, ultra-processed foods, fossil fuels, alcohol

There are certain things heavily promoted on various channels that are very harmful to people's health. Tobacco, ultra-processed foods, fossil fuels and alcohol, promoted by industry lobbies, are responsible for 2.7 million deaths a year in...

Social convulsions, deficit over 2% of GDP, decision in the Roşia Montana case, air and maritime Schengen

Social convulsions have been a constant in the first three months of the current year, with a peak in January, when almost half of the country's major cities were blocked by farmers' and transporters' protests, which lasted for three...

Roşia Montană - miraculous win; air and maritime Schengen; Iohannis wants the head of NATO

Political decision-makers in Bucharest continued in the last month of the first quarter of the current year to adopt decisions regarding the extension of some price capping measures and to dilute the provisions of Law 296/2023 and GEO 115/2023...

Financial February: Ciolacu throws the Roşia Montană "firecracker" into the public space

Traditionally, the second month of the year should be marked by the beginning of the first parliamentary session and less by the visibility of the work carried out by the government, but the electoral year 2024 seems out of the ordinary, in view...

The World Wide Fund for Nature makes recommendations for the Ministry of Energy and the Ministry of the Environment

Dialogue between environmental organizations and authorities is crucial for implementing the best measures to protect nature. WWF-Romania (World Wide Fund for Nature) has sent its recommendations to the Ministry of Energy and the Ministry of...

Parliament postpones the obligation to install heat distributors

The maximum deadline regarding the fulfillment of the owners' obligation to install heat distributors in residential buildings and apartments has been extended until December 31, 2024, following a bill approved yesterday by the Chamber of...

Infinity is the new limit for mortgages in Canada

A Canadian recently stopped by the bank where he took out a 25-year mortgage to check his repayment status, given that interest rates have been rising rapidly lately, amid the increase in the monetary policy rate. To his surprise, next to the...

Sustainable Investing - the revolution begins (2)

• EDUCATION-ASSET CLASS (a class for Environmental, Social and Governance ["E.S.G."] investors)

The medical system needs sound economic foundations

In 2020, in Romania, the pandemic triggered by Covid19 highlighted the vulnerabilities of the public (state) health system both at the level of medical units and at the national level. I am thinking of the precarious medical infrastructure, not...

People make machines, machines create unemployed

The quarantine has deepened the inequalities on the labor market and has significantly sped up the pace at which the public and private sectors need to act to ensure that millions of people keep their jobs on a market that is changing due to...

People make machines, machines create unemployed

• For the first time in the last years, job creation isn't keeping up with their disappearance

BOGDAN BADEA, THE PRESIDENT OF THE BOARD OF DIRECTORS OF HIDROELECTRICA"It is not the pandemic that is the real obstacle to investments, but the legislative jungle"

Hidroelectrica has developed its supply component year after year, and in the coming years, the company's intention is to become an active player on the supplier market, after it doubled the quantity of energy supplied to end consumers in...

"Without Government Emergency Ordinance 114, the investment decisions for the Black Sea would have already been made"

DEPUTY VIRGIL POPESCU, VICE-PRESIDENT OF THE INDUSTRIES AND SERVICES COMMISSION:"Without Government Emergency Ordinance 114, the investment decisions for the Black Sea would have already been made"

The lack of legislative predictability and instability have caused investors not to make investment decisions concerning the extraction of natural gas in the Black Sea, says Virgil Popescu, vice-president of the Commission for Industries and...

"Revenues from the exploitation of natural gas in the Black Sea need to return to the energy sector"

DEPUTY VIRGIL POPESCU, VICEPRESIDENT OF THE COMMISSION FOR INDUSTRIES AND SERVICES"Revenues from the exploitation of natural gas in the Black Sea need to return to the energy sector"

The offshore law will once again reach the Commission, in one or two weeks, according to Mr. Virgil Popescu, the vice-president of the Commission for Industries and Services, the Chamber of Deputies.

"The capping of interest rates is a European practice. There are numerous countries in Europe which practice a capping of interest rates and we have decided to join them as well. The measure will be valid for banks as well as for IFNs, only for new contracts", Daniel Cătălin Zamfir said.

LIBERAL SENATOR STRIKES AGAINZamfir caps interest rates on loans

PNL senator Daniel Cătălin Zamfir does not disappoint. His draft law concerning the capping of interest rates was the first that appeared on the agenda yesterday, in the common meeting of the specialized commissions and despite the controversies...

Vasilescu, NBR: "We hope that banks will come out clean from the audit of the Competition Council"

AFTER BEING INVESTIGATED BY THE TAX ADMINISTRATION AND THE ANPC, BANKS GET INVESTIGATED BY THE COMPETITION COUNCILVasilescu, NBR: "We hope that banks will come out clean from the audit of the Competition Council"

The financial banking system seems to be the focus of most of the investigation entities. After being audited by the National Tax Administration Agency (ANAF) and by the National Consumer Protection Authority (ANPC), some of the banks which...

ENERGY MINISTRY WANTS TO UPDATE THE ENERGY STRATEGY, BY MID-OCTOBERCutişteanu: "The amendment of the Energy strategy in one month - a bad joke"

The amendment of the Energy Strategy in one month is a bad joke, says Jack Cutişteanu, CEO of Petprod, reacting to the announcement made by the representatives of the Ministry of Energy, according to which the Romanian authorities intend to...

Ianfred Silberstein is an administrator at Easy Credit and strategy consultant with the NBR

FINES OF 337,000 LEI, FOR ABUSIVE CLAUSES IN LENDING CONTRACTSThe ANPC has revealed the deceitful practices of Non-banking Financial Companies

The non-banking financial institutions have been fined a total of 337,000 lei, following the audit conducted by the National Consumer Protection Agency (ANPC), between May 8th, 2017 - June 16th, 2017, according to a report of the ANPC, published...

THE EUROPEAN COMMISSION CRITICIZING THE MONOPOLY IN THE TRADING OF NATIONAL GASThe BRM, kicked out by Iancu

The European Commission reacted on Tuesday, after the deputies of the Commission for Industries and Services have passed a series of amendments to the Natural Gas Law, according to which the gas producers will be required to fully trade their...

AFTER VOTING IN FAVOR OF THE 150,000 EUROS CAPPSD "is analyzing" whether to do an about face on the law of giving in payment

After voting in favor of the introduction, in the Law of Giving in payment, of a cap of 150,000 Euros for the amount of the loan at the time of its granting, social-democrats seem to be having second thoughts on that aspect.