Seven major agricultural crops in Romania have been affected this summer by drought and extreme heat. The European Commission has revised its forecasts for the yields of agricultural crops in…
Business
News and economic analysis on the economic crisis, unemployment, inflation, investments, profits, businesses. You also read about highways, roads, prices, increases, pensions, and budget deficits.
Romania loses a huge investment: The 1.4 billion euro battery factory will no longer be built in Galați
Romania will not become a source of battery supply for electric cars in Europe, after losing a 1.4 billion euro investment announced by the Belgian company Avesta Battery and Energy…
The Parliament has voted for the exemption of pensions under 3,000 lei from taxation. USR warns that the law is unconstitutional
The Chamber of Deputies plenary session voted on Tuesday for the bill that provides for the exemption of pensions below 3,000 lei from taxation, with 277 votes „in favor” and…
Fiscal amnesty: The draft of the ordinance has been made public. What are the measures and conditions provided
The Ministry of Finance made public on Tuesday the draft emergency ordinance regarding fiscal amnesty. The document proposes, among other things, that companies with debts to the state as of…
What will happen in Europe when Kiev shuts off the tap of Russian gas
More than two years after the invasion of Ukraine, Kiev has continued to allow the transit of Russian gas to Europe. This will no longer happen starting from the end…
Honey production has drastically decreased due to excessive temperatures. Bees have become irritable and are attacking
Romanian beekeepers are requesting Romanian authorities to provide financial support of 10 euros per bee family, considering the major difficulties faced by the sector due to extreme weather conditions in…
The Romanian government begins negotiations for purchase a strategic port in Moldova
The Romanian government is starting negotiations for the purchase of the strategic Giurgiuleşti port in the Republic of Moldova. The Executive will form a team to initiate negotiations with the…
Ciolacu, about raising the threshold for taxing pensions: It is not a very significant budgetary effort
Prime Minister Marcel Ciolacu provided clarifications on Tuesday regarding the increase up to 3,000 lei of the threshold for taxing pensions. He stated that he had also spoken with the…
The biggest fine ever collected by Uber
Major blow for Uber. The ridesharing giant has been hit with a record fine – $324 million – after sharing sensitive driver data. Uber has been fined by Dutch authorities…
Over 1.8 million bottles of beer recalled due to rust
The inspectors of the Romanian Authority for Consumer Protection (ANPC) have decided to withdraw from the market over 1.8 million bottles of Ciuc beer with rust on the cap or…
Inflation exceeds 5% again. Flour and cornmeal are now 30% cheaper
The annual inflation rate in July 2024 was 5.4%, announced the Romanian National Institute of Statistics (INS). The news comes after having had inflation below 5% in June. Food prices…
The government is preparing to increase the dividend tax, tax other forms of capital, and eliminate tax incentives in construction
The government is preparing to adopt new tax measures, including increasing the taxation on dividends from 8% to 10%, taxing other forms of capital, and eliminating tax incentives for construction…
The Fiscal Administration has exceeded its collection target by 6% in the first six months
Romanian Finance Minister Marcel Boloş announced on Wednesday that the National Agency for Fiscal Administration (ANAF) has exceeded its collection target by 6% in the first six months of the…
Risk of massive power outage due to heatwave?
While some Romanian TV stations are sensationalizing that the country is at risk of a blackout due to the heatwave or that massive power outages may occur, the Minister of…
A blood donor will receive an interest of 600.000 euros on government securities
The largest subscription order for Fidelis state titles, June 2024 edition, on the blood donors’ tranche, amounts to 43 million lei (8,6 million euros). In other words, a blood donor…
The solar energy produced by photovoltaic panels increased by 50% in 2024
Solar energy produced in Romanian photovoltaic installations (including prosumers) in the first four months of 2024 was 800.4 million kWh, an increase of 268.4 million kWh (plus 50.5%) compared to…
The hidden ways through which Russia gets what it wants: Abnormal imports of German cars in Kyrgyzstan and the "dark fleet" that transports oil
German exports of cars to Kyrgyzstan have increased by 5,100% since the beginning of the Ukraine war. There are other ways in which Russia obtains technology and luxury products, despite…
Louis Vuitton accused of copying a Romanian traditional blouse
Romanian Minister of Culture, Raluca Turcan, intends to initiate a dialogue with Louis Vuitton for the recognition of the heritage and cultural value of traditional Romanian pieces.This statement comes in…
AI can do better financial analysis than humans in the case of a giant like Apple
A group of researchers has discovered that the GPT-4 program developed by OpenAI outperforms humans in financial analysis for large companies like Apple. Three researchers from the University of Chicago…
Vouchers of up to 20,000 euros for farmers to buy tractors
The Romanian government will finance, for the first time, a program that will help small farmers to buy tractors. Prime Minister Marcel Ciolacu announced, on Thursday, during the Cabinet meeting,…