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GROSS DOMESTIC PRODUCTS IN Q2 2019 WAS, IN REAL TERMS, BY 1.0%1 HIGHER, AS COMPARED TO Q1 2019

Friday, October 11, 2019

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As against the same quarter of 2018, the Gross Domestic Product recorded an increase by 4.4% for the unadjusted series and by 4.5% for the seasonally adjusted series; In the first half of 2019, as against the same period of the previous year, the Gross Domestic product increased by 4.6% for the unadjusted series and by 4.7% for seasonally adjusted series; The ...

Report: Strengthening governance remains the country’s biggest opportunity for enhancing future prosperity

Friday, October 11, 2019

A report on Economic Openness in Romania, published by the Legatum Institute and showcased at a panel event at the British Romanian Chamber of Commerce, highlights that strengthening governance remains the country’s biggest opportunity for enhancing future prosperity. The report reveals that Romania ranks 47th in the world for economic openness overall. It has the same rank for governance, reflecting its progress in adopting EU roles and ...

Solvency II: Commission calls on ROMANIA to apply amended rules on bank resolution

Friday, October 11, 2019

The Commission decided Thursday to send a reasoned opinion to Romaniafor not transposing into national law the Bank Creditor Hierarchy Directive (Directive (EU) 2017/2399) that amends ...

Financial Services: Commission requests ROMANIA to comply with EU rules on the sale of insurance products by distributors from other Member States

Friday, October 11, 2019

The European Commission decided Thursday to send a letter of formal notice to Romania regarding the conditions for the sale of insurance products by insurance distributors from other Member States. The Commission urges Romania to adjust national rules setting restrictive conditions insurance distributors from abroad who want to sell products to Romanians. Under Romanian rules, foreign insurance ...

Civil justice: The Commission calls on ROMANIA to notify measures taken to comply with EU rules on debt recovery

Friday, October 11, 2019

Thursday, the Commission decided to send a letter of formal notice to Romania for failing to notify the measures taken to comply with EU rules on recovering debt from debtors in other Member States (the European Account Preservation Order ...

SURVEY: Shortage of money, information and self-confidence, obstacles for youngsters with business ideas

Friday, October 11, 2019

Three out of four young people consider the main reason for not succeeding in putting into practice their business ideas is the shortage of funds needed for the initial investment, according to a survey made by Startarium platform among people included in Startarium Crowdfunding Makeathon, a project devoted to financing through crowdfunding in Romania, carried out until December 15. “Their perception comes in the context in which half of ...

Natural population growth in Romania remains negative in August

Friday, October 11, 2019

In August 2019 the number of recorded births decreased compared to July 2019. The number of recorded deaths and the number of recorded deaths of children under 1 year fell in August 2019 compared to July 2019. The number of recorded marriages significantly increased and the number of recorded divorces rose in August 2019 compared to July ...

Béjart Ballet Lausanne back in Bucharest, October 12 and October 13

Friday, October 11, 2019

The famous Béjart Ballet Lausanne is coming back to Bucharest, Romania with two premiere performances of contemporary ballet at Sala Palatului on October 12 and October 13, Tous les hommes presque toujours s’imaginent and 7 Danses Grecques. Two Romanian ballerinas are to perform as well: Oana Cojocaru and Bianca Stoicheciu. Oana Cojocaru has been part of the ...

President Iohannis: I wish motion of censure to be successful; transition gov't to be built around PNL

Thursday, October 10, 2019

President Klaus Iohannis on Wednesday stated he very much wished the motion of censure to be adopted by Parliament today, and showed that, in the event this document will indeed pass, a transition government will be built around PNL (National Liberal Party) to ensure "a serious, disciplined transition until the parliamentary elections.""I want to say this very clearly, so that everyone will understand and fault finders won't find anything to comment upon this ...

Ahead of the vote on the censure motion , PSD is trying to lure lawmakers with money coming from the National Local Development Fund

Thursday, October 10, 2019

PM Viorica Dancila and the ruling Social Democrat Party (PSD- ruling party) have been accused of trying to bribe the lawmakers and mayors of the party with money and positions ahead of the vote on the censure motion. In a message in Facebook, PSD are talking about pay rises, vouchers and bonuses for the state employees. “We in PSD guarantee the salary increase as of January 1, 2020 and January 1, 2021. We also guarantee vouchers and other ...

JusMin Birchall: it is my duty as a minister of Justice to defend the ministry’s powers and reputation

Thursday, October 10, 2019

Justice Minister Ana Birchall and the Head of the Superior Council of Magistracy (CSM), Lia Savonea have embarked on a row over justice control. After CSM Head Lia Savonea had notified the Constitutional Court over a constitutional conflict with the Justice minister, Ana Birchall replied she will  act “legally and constitutionally”. JusMin says she had done nothing illegal and that all that she did was to ...

Several CSM members ask for CCR’s notification Oover PM Dancila’s ‘concerning’ statements on Justice

Thursday, October 10, 2019

Seven magistrates, members of the Superior Council of Magistracy, have asked the CSM plenary council and president Lia Savonea to notify the Constitutional Court (CCR) following the taping released in mass media, when PM Viorica Dancila is telling her party fellows about the stake of the judiciary to allow PSD to stay in power. “Through the allegation that for a political party to stay in power and to form the Government the stake is ...

Minister Gabriel Les claims "foreign entities are blocking Romania's strategic security interests"

Thursday, October 10, 2019

Minister of National Defence Gabriel Les showed his discontent with the actions through which the Dutch company Damen "is blocking the awarding of the contract for the multifunctional corvettes."He wrote on Wednesday on Facebook that, through these actions, "foreign entities are blocking Romania's strategic security interests."In his post, Gabriel Les spoke about "a true tiresome legal war" that the foreign companies carry out in Romania. He drew the ...

Deputy Chief of Defence Staff Petrescu: LANDCOM conference in Bucharest, a recognition of HQ MND-SE's importance

Thursday, October 10, 2019

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The organisation of the Allied Land Command (LANDCOM) Conference in Bucharest represents a recognition of the important role of the Headquarters Multinational Division Southeast (HQ MND-SE), Deputy Chief of Defence Staff Daniel Petrescu stated on Wednesday."It was an honor and a privilege for us to endorse the Headquarters Multinational Division Southeast in organising this conference. I believe that it's an important moment - it is for the first time when we have ...

The European Commission invites EU Heads of State and Government to negotiate for the establishment of the 2021-2027 budget

Thursday, October 10, 2019

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Ahead of the European Council meeting on 17 and 18 October, the European Commission calls on EU Heads of State or Government to provide political guidance and new impetus to the negotiations in order to reach an agreement on a fair, balanced and modern long-term EU budget for the period 2021-2027 before the end of this year. The next multiannual financial framework (MFF) should be fit for the challenges of today and tomorrow so it can enable the EU delivering on the ...

IMF Staff Completes Visit to Moldova

Thursday, October 10, 2019

A staff team of the International Monetary Fund (IMF), led by Ruben Atoyan, visited Chi?inau during October 2–8, 2019, a press release informs . At the conclusion of the visit, Mr. Atoyan made the following statement: “We commend the authorities for taking decisive actions to bring the IMF-supported ...

World Bank improves forecasts on development of Romania's economy in 2019, 2020 and 2021

Thursday, October 10, 2019

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The World Bank revised upward to 4.2 percent the forecast on the advance of the Romanian economy in 2019, by 0.6 percentage points more against the forecast in June 2019, shows a report published by the World Bank on Wednesday. Moreover, the international financial institution expects Romania to report for 2020 and 2021 an increase of the Gross Domestic Product of 3.6 percent and 3.2 percent, respectively, increasing by 0.3 percentage points and 0.1 ...

EC agrees to include Brasov airport among objectives to get European funds supported by EIB

Thursday, October 10, 2019

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European Commission agreed to include the Brasov airport among the objectives that the European Investment Bank (EIB) experts say should get European funds, Minister of European Funds, Roxana Minzatu, on Wednesday made the announcement in a press release."Following the consultations today [Wednesday - editor's note] between the Minister of European Funds and the European Commission, in Brussels, the DC Regio representatives agreed that the Brasov County Council ...

Germany topping ranking of 5th edition of European Cyber Security Challenge; Romania, 4th

Thursday, October 10, 2019

Germany, Italy and Poland are currently the best three teams of the 5th edition of the European Cyber Security Challenge 2019 competition, which is taking place these days at Parliament Palace in Bucharest.Romania's team is close to the podium, in 4th position, only 20 points away.According to the real-time results posted on the official website of the competition (https://europeancybersecuritychallenge.eu/leaderboard), about four hours into the ...

Study: One in four generation Z representatives from Romanian urban areas has a negative view of the future

Thursday, October 10, 2019

A quarter of the Romanian youngsters belonging to the Z generation have a rather gloomy perspective of the future, says the KidsFutureMonitor study conducted by Unlock Market Research amongst children and teenagers from Romania’s big cities, as they are considered the audience most exposed to the media influence. The respondents said that the main concerns when they think about the future are: destruction of nature (24%), ...

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