The PSD-PNL Government led by Marcel Ciolacu missed the September deadline for submitting Payment Request number 4 from the National Recovery and Resilience Plan (PNRR), ending the year with no funds received from the PNRR, according to a statement issued by Save Romania Union (USR). During its tenure, the Ciolacu Government submitted only one payment request (number 3) and the European Commission made a partial payment due to unmet milestones. The European Commission recommended a partial payment for Payment Request number 3 and the suspension of EUR 1.1 billion (out of the total EUR 2.4 billion).
At the end of last year, Romania’s trade deficit with Poland reached EUR 4 billion, with imports totaling EUR 7.3 billion and exports amounting to EUR 3.6 billion, Ovidiu Ioan Silaghi, Secretary General of the Chamber of Commerce and Industry of Romania, stated on Thursday. According to data from the National Trade Registry Office (ONRC), 1,726 Polish-owned companies were operating in Romania in September 2024, with a total subscribed capital of EUR 410.19 million.
Banca Comercială Română (BCR) and Softlead, a Romanian marketplace specialized in identifying software solutions based on Digital DNA, have signed a partnership that provides BCR clients with access to a comprehensive ecosystem of digital and financial solutions essential for business performance. Specifically, through this collaboration, BCR clients benefit from access to a platform that includes over 1,300 software solutions and 700 IT providers, ensuring a personalized selection of solutions tailored to the needs of each industry, the bank’s officials announced on Thursday.
Banks reported a cumulative net profit of nearly RON 11.7 billion between January and September, according to Profit.ro’s calculations based on preliminary data from the National Bank of Romania, marking an 11% increase compared to the first nine months of 2023. In the third quarter, profits rose to RON 4.1 billion, up from almost RON 3.8 billion in the previous quarter. The return on equity (ROE) improved from 20.15% in the previous quarter to 20.17%, though it remains below the 21.25% recorded in September 2023, near a record high.
Starting December 1, Roxana Bujor, Director for Small Corporates at UniCredit Bank, will become the new CEO of UniCredit Leasing, taking over from Daniela Bodîrcă. Bodîrcă, who has more than 26 years of experience in the financial-banking industry, including 16 years at UniCredit Romania, will conclude her second term as CEO of UniCredit Leasing on November 30. During her 10 years as Executive Vice President of the Risk Division and Member of the Management Board of UniCredit Bank Romania, she had extensive responsibilities, including serving on the Supervisory Board and Audit Committee of UniCredit Leasing and UniCredit Consumer Financing.
MedLife, the largest private healthcare network in Romania, continues its expansion plans with the opening of the new MedLife Craiova Hospital, an investment worth nearly EUR 6 million that marks a new milestone for the private healthcare system in the region. The new hospital, located in Craiova, spans 3,400 square meters and significantly enhances the healthcare services available in Oltenia. Equipped with state-of-the-art technology, high-performance imaging and medical analysis laboratories and a digitalized operating block, MedLife Craiova Hospital will provide patients across the Oltenia region with access to precise diagnostics and innovative treatments.
Exim Banca Românească and Damen Shipyard Galați have entered into a financing agreement valued at EUR 25 million to support the company’s investment program, primarily aimed at expanding and equipping its shipbuilding facilities. The investment will allow Damen Shipyard Galați to enhance its internal construction capabilities, especially for luxury and military vessels. This significant investment project follows the opening of a new robotic line for micropanel manufacturing at Damen Shipyard Galați last year, which was also funded by Exim Banca Românească.
The National Company for Road Investments (CNIR) has announced that the tender for the design and execution of section 2B Grințieș-Pipirig, the most challenging segment of the A8 Highway, has been published in the SEAP (Public Procurement Electronic System). The contract is set for a duration of 54 months (14 months for design and 40 months for execution), with an estimated value of RON 6.9 billion. Offers can be submitted until January 15, 2025. Located in Neamț County, section 2B stretches over 31.5 kilometers and is the most difficult part of the "Unirii" Highway (Târgu Mureș - Iași - Ungheni), due to the extensive length of overpasses and tunnels, which cover approximately 20 kilometers, making up nearly 70% of its total length.
Stay Fit Gym announces the opening of a new fitness center in Bucharest, located in the Rahova neighborhood. This is the 47th center opened nationwide, making it the network with the most centers in Romania and Eastern Europe, according to a press release. The new Stay Fit Gym center in Rahova covers approximately 1,200 square meters and includes areas for fitness, functional training, cardio, and group class studios. The investment in the development and opening of this center amounted to about RON 3.5 million.
The legislative change that allowed authorized natural persons (PFA), individual enterprises and family enterprises to register as limited liability companies (SRL) or other types of commercial companies has been deemed unconstitutional by the Constitutional Court of Romania (CCR). The law was adopted in Parliament in October.
Starting Thursday, November 21, 2024, the sanctions regime for non-compliance with reporting obligations under the RO e-Transport system has been amended through the introduction of Government Emergency Ordinance no. 129/2024 (OUG 129). The Government justified the changes by the need to align the severity of the sanctions with the frequency of violations. As a result, sanctions for violating RO e-Transport regulations will be gradually reduced based on the number of offenses committed by a taxpayer within a 12-month period.
Patients with disabilities may lose access to specialist medical rehabilitation services following the adoption by the Health Committee of the Chamber of Deputies of a bill granting decision-making authority to physiotherapists, who have limited qualifications, the Romanian Society of Medical Rehabilitation (SRRM) warned on Thursday. According to an SRRM statement, the decision has a "serious" impact on the safety and health of patients with disabilities, who are the primary beneficiaries of medical rehabilitation services. This is because the bill grants decision-making power to physiotherapists, who are not doctors and, in most cases, have not even completed a Bachelor’s degree in physiotherapy in the health field, but rather in Physical Education and Sports.
Throughout Europe, an estimated 67 million people rely on the heat provided by district heating networks. These systems distribute heat from a centralized location through a network of insulated pipes that heat rooms and water. Often, they use the waste heat from a cogeneration plant burning fossil fuels or biomass—heat that would have been otherwise wasted. But they can also circulate the heat from geothermal sources, nuclear plants, heat pumps, central solar heating, or heat-only boiler stations.
Amid the ongoing spending cuts scandal, the Ministry of Labor lacks sufficient funds to pay pensions for December, following the recalculation of pensions starting from September 1, 2024. As a result, the government will withdraw RON 1.6 billion from the Reserve Fund to address the issue, according to a draft resolution presented on Thursday on the Executive’s agenda. Additionally, the excise tax on beer has been increased, but not in line with the inflation rate. The Prime Minister mentioned that a concession was made for the beer industry. However, the excise tax on wine, fermented drinks and products made from ethyl alcohol will be increased for next year.
On Thursday, the Ministry of Labor announced that the Government had approved emergency aid totaling RON 1,789,520 to support 430 families and individuals facing hardships. These individuals are experiencing challenges due to fires, severe weather conditions, or other exceptional situations related to health problems or other factors that may increase the risk of social exclusion. According to the Ministry, the Government allocated RON 208,500 to help 33 families and individuals affected by fires in the counties of Alba, Bacău, Botoșani, Brăila, Buzău, Caraș Severin, Constanța, Covasna, Gorj, Ialomița, Iași, Mehedinți, Olt, Suceava, Teleorman, Vaslui, Vâlcea and Vrancea.