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The Energy Minister pointed out that prices in our region are much higher than those in Western Europe due to several factors, including unfavorable weather conditions and interconnection problems. (Photo source: facebook / Sebastian Burduja)

Sebastian Burduja asks the EC for compensation regarding the increase in energy prices

The authorities in Bucharest intend to ask for compensation from the European Commission, due to the significant differences in energy prices between Eastern and Western Europe, the Minister of Energy, Sebastian Burduja, said yesterday, during...

Joëlle Elvinger: "The MRR potential is undermined because of the high level of approximation in the related plans and because of the discrepancies between forecasts and reality, thus not being able to know the true amount that directly supports the green transition"

Money for the green transition, embezzled by EU member states

Money for the green transition allocated through the Recovery and Resilience Mechanism (RMR) has been misappropriated by EU member states because some measures, "green" on paper, are not so "green" in reality, while some projects...

Pasodoble to the Oval Office (Graphic concept by MAKE)

What was the significance of the debate between Kamala Harris and Donald Trump?

The televised debate between Kamala Harris and Donald Trump had a negative impact on investor confidence in the shares of Trump Media & Technology Group Corp (NASDAQ: DJT), according to a report from Investing.com, which stated yesterday that...

Nicoleta Pauliuc: "We discussed the urgency of adopting some draft laws that would allow those from the Ministry of Defense to fulfill their missions. In this way, we talked about the need for the Ministry of Defense, through the Government, to come to Parliament in a emergency procedure". (Photo source: facebook / Nicoleta Pauliuc)

Nicoleta Pauliuc: "The penetration of a Russian drone into the airspace can be considered a vulnerability"

The penetration of a Russian drone over a certain period of time and over a distance of tens of kilometers represents a vulnerability, said yesterday, Nicoleta Pauliuc, the president of the Defense, Public Order and National Security Committee in...

In his candidacy announcement, Mircea Geoană expressed his vision for Romania, emphasizing the need for a profound change in the country's leadership: "I am running for president because I know we need a real change! I could promise you a perfect country. Let me pose as the perfect politician, tell you all your problems will disappear overnight. But we all know that this is not reality". (Photo source: facebook / Mircea Geoană)

Presidential elections: Mircea Geoană and the shadows of the past

The former deputy general secretary of NATO, Mircea Geoană, aged 66, announced yesterday, through a video message posted on social networks, his candidacy, as an independent, in the presidential elections, the rounds of which are scheduled to...

In the military operations in Afghanistan carried out under the umbrella of NATO, 2,461 US soldiers lost their lives, and 125,000 people were evacuated when the troops withdrew. According to Sharon Yang, one of the spokespersons of the US Presidential Administration, during the 20 years in which US troops were present in Afghanistan (2001-2021), the US spent over 2 trillion dollars on operations there.

John Kirby: "The US did not abandon any weapons to the Taliban during the withdrawal from Afghanistan"

The US has not abandoned any military equipment in the hands of the Taliban during the withdrawal of US military forces from Afghanistan in the summer of 2021, said Reserve Admiral John Kirby, national security and communications adviser to...

The minister's hearing in the plenary session of the Chamber of Deputies would take place on October 8, 2024, during the Government Hour program, according to a press release issued by USR. (Photo source: facebook / Angel Tîlvăr. Foto credit: MApN, Laurenţiu Turoi)

The Minister of National Defense, summoned to Parliament in the Russian drone scandal

Angel Tîlvăr, the Minister of National Defense, was summoned to the Parliament by USR deputies to provide explanations regarding the fact that the Russian drones that illegally entered Romania's airspace were not shot down by the Romanian Air...

The Court of Justice of the European Union decided yesterday, definitively, that Google must pay a fine of 2.4 billion euros - a penalty applied by the European Commission in 2017 - for the abuse of its dominant position on the search engine market, because it favored its own shopping comparison service, according to the Euractiv.com website.

Google and Apple, severely sanctioned by the Court of Justice of the European Union

The giants in the field of IT and communications, Google and Apple, are forced to pay financial sanctions totaling 15.4 billion euros, for violating European legislation on data storage and for abusing a dominant position in the market.

Domnul deputat Miruţă a menţionat că specialiştii IT români nu sunt căutaţi doar de companiile din Israel, ci de firme mari din toată lumea, deoarece sunt bine pregătiţi în facultăţile de calculatoare, de electronică şi de informatică din ţara noastră.

Radu Miruţă, deputat: "Guvernul ar trebui să ofere facilităţi fiscale companiilor de software care se încăpăţânează să plătească taxe şi impozite în România"

Specialiştii din IT pot fi menţinuţi în ţara noastră prin oferirea unor venituri atractive, chiar şi prin acordarea de facilităţi fiscale, susţine deputatul Radu Miruţă (USR), secretar al Comisiei pentru Tehnologia Informaţiei şi Comunicaţiilor...

Corina Vasile: "It must be taken into account that the teams and companies from Romania are in competition with any other companies in the global market, and the cost is a critical element".

Corina Vasile, ANIS: "The IT workforce is one of the most mobile"

The labor market specialized in IT has moderated in the last 12 months, even if there is still a shortage for certain specializations, Corina Vasile, executive director of the Software and Services Industry Employers' Association (ANIS), told...

Deputy Miruţă mentioned that Romanian IT specialists are not only sought after by companies in Israel, but by large firms from all over the world, because they are well trained in the faculties of computers, electronics and informatics in our country.

Radu Miruţă, Deputy: "The government should offer fiscal facilities to software companies that stubbornly pay taxes in Romania"

IT specialists can be kept in our country by offering attractive incomes, even by granting tax facilities, claims deputy Radu Miruţă (USR), secretary of the Commission for Information and Communications Technology (TIC) in the Chamber of...

Negotiations for electricity interconnection between Greece and Cyprus

The energy ministers of Greece and Cyprus discussed yesterday the details regarding the implementation of the Great Sea Interconnector project, through which a submarine cable would be installed regarding the transport of electricity between the...

Marcel Ciolacu specified: "We picked up the planes, we monitored and if they had a target on Romanian territory we acted. (...) I spoke with the Minister of Defense. There were no particular problems on the ground, the attacks will continue, because grain exports are coming again. That's it, we have a war near the border with Romania".

Marcel Ciolacu: "If the Russian drones had a target on Romanian territory, we would act"

If the Russian drones that flew over Romania's airspace on the night of Saturday to Sunday had targets on the territory of our country, they would have been shot down by F-16 planes, Prime Minister Marcel Ciolacu said yesterday, before the...

As in the current Simion Plan, the FSDI proposed by Liviu Dragnea and PSD aimed to manage a portfolio of state companies and capitalize on national resources through a fund similar to the Norwegian model. (Photo source: facebook / Liviu Dragnea)

The Sovereign Investment Fund proposed by Dragnea, failed in implementation

Liviu Dragnea and PSD proposed, in February 2017, the establishment of the Sovereign Development and Investment Fund in 2017, the measure being part of the governing program of the social democrats for the period 2016-2020. As in the current...

Gheorghe Piperea: "The Sovereign Investment Fund is absolutely necessary because any independent nation that wants to preserve its strategic resources and be on its own feet from a financial point of view creates such a fund."

Gheorghe Piperea: "The Sovereign Investment Fund should be subordinate to the Parliament"

The future Sovereign Investment Fund, provided for by the Simion Plan and the AUR program, should be subordinated to the Parliament, lawyer Gheorghe Piperea, MEP from our country, told us.

Mircea Coşea told us: "I do not accept that this fund is established on political grounds or that it is subordinated to the Government. I see the Sovereign Investment Fund only under the authority of the NBR, because in the central bank there is the possibility of eliminating political actions and political pressures".

Mircea Coşea: "I see the Sovereign Investment Fund only under the authority of the BNR"

The establishment of a sovereign investment fund is extremely welcome, but such a financial instrument should be established only under the authority of the National Bank of Romania, the only institution capable of eliminating political interests...

The vice-president of CFA Romania does not believe that such a fund should be under the NBR, although Norway's Sovereign Investment Fund is under the tutelage of the Scandinavian country's central bank.

Adrian Codirlaşu: "Ideal for the establishment of the SIF would be the Proprietatea Fund model"

The Sovereign Investment Fund proposed by the Simion Plan should be established according to the Proprietatea Fund model, claims Adrian Codirlaşu, the vice-president of CFA Romania.

The evolution of Norway's Sovereign Wealth Fund from its inception to the present day

Norway's Sovereign Investment Fund - an economic and financial success

Norway's Sovereign Investment Fund, formally known as the Global Government Pension Fund, is the world's largest sovereign wealth fund, managing $1.7 trillion in assets at the end of August 2024, according to data on the Bank's...

The Sovereign Investment Fund proposed by the Simion Plan, difficult to implement in the current economic conditions

The creation of a Sovereign Investment Fund in Romania (SIFIR), which would be capitalized from the collection of royalties and taxes for the exploitation of mineral and energy resources, as well as from the dividends of state-owned energy...

The Kremlin is a world champion at manipulation; He systematically mocks the American voter, baits him with fake news and makes him elect Putin's friend for president. What do you think is happening to the Romanian voter? (Illustration: collage by MAKE)

Kremlin Manipulates US Elections; the Russian operation, annihilated by American institutions

The United States Department of Justice has dismantled a Russian network that was trying to influence the November 2024 US presidential election through an extensive online disinformation campaign. As a result of investigations by FBI and US...

Marcel Boloş, ministrul Finanţelor, a declarat, în briefingul de presă care a avut loc după şedinţa de ieri: "Este un pachet de măsuri extrem de complex care priveşte mediul de afaceri şi cheltuielile publice ale statului". (Sursa foto: facebook / Marcel Boloş)

Aministie fiscală - ce măsuri a aprobat ieri Guvernul pentru rău-platnici şi cum vor fi recompensaţi contribuabilii corecţi

Companiile şi persoanele fizice care îşi achită debitele principale restante la bugetul de stat până la data de 31 august 2024 vor beneficia de anularea datoriilor accesorii calculate pentru obligaţiile plată, potrivit ordonanţei de urgenţă...

Marcel Boloş, the Minister of Finance, declared, in the press briefing that took place after yesterday's meeting: "It is an extremely complex package of measures that concerns the business environment and public spending of the state". (Photo source: facebook / Marcel Bolos)

Tax amnesty - what measures did the Government approve yesterday for bad payers and how will correct taxpayers be rewarded

Companies and natural persons who pay their outstanding main debts to the state budget by August 31, 2024, will benefit from the cancellation of the ancillary debts calculated for the payment obligations, according to the emergency ordinance...

Nicu Fălcoi told us: "BRICS is not a military alliance, but an economic one. It is not exactly right that Turkey - as a NATO member state - has applied to become a BRICS member, but at the same time it is not an end of the country. I am sure that there will be discussions on this topic with all major NATO partners and that at the moment the allies are reserved in commenting on the request that the Ankara regime has made regarding the BRICS membership".

Nicu Fălcoi: "It is not right that Turkey - NATO member state - requested to become a member of BRICS"

It is not right that Turkey, which is a member state of NATO, requested to become a member of BRICS, even though the last organization is not a military one, but only an economic one, said deputy Nicu Fălcoi (USR), vice-president of the...

Prime Minister Ciolacu also said that the dialogue with the leaders of the banking sector will be a regular one, because the interest of the Government and the financial-banking system is a common one: growing businesses, more prosperous companies, which lead to sustainable economic growth, in the long term. (Photo spurce: facebook / Marcel Ciolacu)

Ciolacu appeals to banks to finance public investments

Yesterday, Prime Minister Marcel Ciolacu asked the representatives of the banking system in our country to support public investments, as well as the financing schemes launched by the Government to support the private sector, according to a post...

The BVB indices entered a corrective phase, triggered by the turbulence in foreign markets

The long-term upward trend of the indices of the Bucharest Stock Exchange (BVB) entered a corrective phase in August, primarily due to the contagion with foreign markets that suffered a severe fall at the beginning of the month. The BET index, of...

August in numbers

• August 1st

Ciolacu asks the European Commission for permission for a larger deficit

The last month of summer was marked by a series of government decisions that continued to deepen the budget deficit, which - according to the budget execution for the first seven months published by the Ministry of Finance at the end of August -...

ECA report: Money from PNRRs has a very hard time reaching the real economy

The European Commission paid to the EU member states, in the first three years, of the total amount of 724 billion euros foreseen in the Recovery and Resilience Mechanism (RMR), only 213 billion euros, which represents only a third of the funding...

Roxana Mînzatu, deputat european din partea PSD (Sursa foto: Facebook)

Marcel Ciolacu anunţă că propunerea României pentru funcţia de comisar european este Roxana Mînzatu

Premierul Marcel Ciolacu a anunţat luni, la Parlament, că propunerea României pentru funcţia de comisar european este Roxana Mînzatu, deputat european din partea PSD. Şeful Executivului a mai spus că urmează să discute cu preşedinta Comisiei...

European deputy Roxana Mînzatu, 44 years old, has a vast experience of almost 20 years in the management of European funds and has been involved in several local or regional economic development projects. (Photo source: facebook / Roxana Mînzatu)

Ciolacu, chess at von der Leyen - Roxana Mînzatu, in the cards for the position of European Commissioner

Prime Minister Marcel Ciolacu would be tempted to nominate Roxana Mînzatu, the current European deputy from the PSD, as our country's proposal for the position of European commissioner, according to social democratic sources cited by G4Media....

USR parliamentarians campaign for zero taxes for the minimum wage on the economy, and for progressive taxation according to certain levels of this income.

Amending the Fiscal Code, on the list of legislative priorities of the new parliamentary session

Amending the Fiscal Code, without introducing new fees and taxes and without increasing the existing ones, amending the single salary law in the budget system in order to fulfill the reform included in the National Recovery and Resilience Plan -...

The defense industry - on the radar of some venture capital funds in our country

The managers of some venture capital funds in our country follow the defense industry to identify investment opportunities in start-ups in the sector or have made investments in technologies that, although not developed for military security...

Purtătorul de cuvânt al Executivului, Mihai Constantin, a făcut precizari: "Prin ordonanţă se extinde aria posibililor beneficiari ai finanţărilor nerambursabile pentru proiecte culturale, prin includerea în sferă a potenţialilor solicitanţi de finanţări a elevilor din învăţământul preuniversitar de stat.

Guvernul a adoptat un set de măsuri pentru elevi

Elevii din învăţământul preuniversitar de stat au fost incluşi în aria posibililor beneficiari ai finanţărilor nerambursabile pentru proiecte culturale, printr-o ordonanţă aprobată de Guvern. Purtătorul de cuvânt al Executivului, Mihai...

Mr. Aurel Cazacu pointed out: "In my opinion, even if we are under the umbrella of NATO, we must equip ourselves militarily, because that endowment has three purposes: deterring the enemy, increasing the confidence of the population and economic development".

Aurel Cazacu: "If the Russians attack us, we only have ammunition for two or three days"

The defense industry in our country does not produce as much as it is needed, and this fact leaves us exposed to an armed attack from Russia, military expert Aurel Cazacu, former director general of Romarm, told us.

The spokesperson of the Executive, Mihai Constantin, made clarifications: "The ordinance expands the range of possible beneficiaries of non-refundable funding for cultural projects, by including in the scope of potential funding applicants students from state pre-university education.

The government has adopted a set of measures for students

Students from the state pre-university education were included in the area of possible beneficiaries of non-refundable funding for cultural projects, through an ordinance approved by the Government. The spokesperson of the Executive, Mihai...

The conflict in Ukraine and the one in the Middle East forced the states and companies in the defense industry to adapt their strategies and invest massively in the development of new technologies and military capabilities.

The armaments industry - the new attraction for companies and investment funds

• Evolution of the romanian defense industry in the context of the new arms race

Although manufacturing more weapons and increasing ammunition stockpiles are expensive, NATO member states have the financial resources to do so according to a recent report by the International Institute for Strategic Studies which states that "overall, total NATO spending increased by 11% in 2024 , compared to 3 percent in 2023," and that the increase was larger among NATO's European members, "which increased their combined military spending by 19 percent in real terms in 2024."

The war in Ukraine - financial boom for European defense companies

Longer-term concerns about how Russia is acting not only on the front in Ukraine, but also in the Middle East and the Far East have led European NATO member states to embark on an extensive program to increase their own weapons stockpiles, fact...

In dozens of towns in central Sicily, water is rationed and citizens are forced to rely on water delivered by tankers, which can cost families and businesses up to 300 euros a month.

Effects of drought: speculate with water

The severe drought affecting the Italian island of Sicily has reached critical heights, leaving many residents of the town of Caltanissetta without running water for over two months. In a situation more reminiscent of the difficulties of...

At the end of July, the net assets of private pension funds in our country were 152.3 billion lei, the average value of the account being almost 17,000 lei. Of the more than 152 billion, only 5.4 billion represented the assets of optional pension funds (Pillar III), while the average value of the account was around 7,000 lei, according to the data available on the website desprepensiiprivate.ro.

What returns did Pillar II funds have in the first seven months of the year?

The nominal returns of the seven Pillar II private pension funds were around 8%, in the first seven months of this year, respectively 14-16% in the period July 2023 - July 2024, performances above those achieved in normal. They are really...