Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Financial & Banking

ECOFIN warns Romania to limit increase in net primary govt. spending

Monday, December 10, 2018

The EU Council of Economic and Financial Affairs (ECOFIN) on December 6 officially warned the Romanian Government not to allow the net primary government expenditures (the primary general government budget) to rise more than 4.5% compared to 2018, romania-insider.com informs. The structural fiscal balance would thus decrease by 1pp (from 3.3% of GDP estimated for this year), according to ...

Ebury: More than 85 percent of Romanian companies never hedged against FX risk

Monday, December 10, 2018

More than 85 percent of Romanian companies never hedged against foreign exchange (FX) risk and few companies manage FX risk in a structured way, Johan Gabriëls, country manager for Romania and Bulgaria at Ebury said on Wednesday quoted by http://business-review.eu. “More than 85 percent of Romanian companies never hedged against FX risk and few companies manage FX risk in a structured way. Romanian exporters are aware of FX and agree FX ...

Isarescu: Committee for Preparing Changeover to Euro, to release two reports

Monday, December 3, 2018

The Committee for Preparing the Changeover to the Euro will release two reports in December, the documents are highly technical though and are 300-page long and we have strived to translate the document from Romanian into Romanian, so as to say things in an acceptable language, National Bank of Romania (BNR) Governor Mugur Isarescu stated on Wednesday. "In December, The Committee for Preparing the Changeover to the Euro will publish the two documents, a ...

Romania’s public deficit rose 3.2 times in January-October to EUR 4.5 bln

Monday, December 3, 2018

181203103417ra__unovodstvo.jpg

Romania’s general consolidated budget, which includes fiscal and social budgets of the government, registered after the first ten months of this year a deficit of RON 21 billion (EUR 4.5 billion), or 2.2 percent of estimated GDP, being 3.2 times bigger compared with the same period of 2017, according to the Finance minister Eugen Teodorovici, http://business-review.eu reads. The minister claims that the ...

Non-governmental loan balance up 0.8pct in October; loans in lei up 0.9pct

Monday, December 3, 2018

The balance of non-governmental loan granted by credit institutions increased by 0.8 per cent in October 2018 (0.3 per cent in real terms) compared with September, up to 249.622 billion lei, according to a press release of the National Bank of Romania (BNR) ."The loan in lei increased by 0.9 per cent (0.4 per cent in real terms) and the loan in foreign currency increased by 0.6 per cent (expressed in euro, the loan in foreign currency increased by 0.5 per cent). ...

BNR: Deposits of non-government resident customers advance 0.9 percent on a monthly basis in October 2018

Monday, December 3, 2018

 Deposits of non-government resident customers went up 0.9 percent month on month to 317,399.9 million lei in October 2018. At end-October 2018, deposits of non-government resident customers grew by 9.2 percent (4.7 percent in real terms) over the same year-ago period, according to data posted on Monday by the National Bank of Romania (BNR).RON-denominated household deposits moved up 1.3 percent to 116,277.6 million lei. At end-October 2018, household ...

Overdue lei-denominated loans, up 0.9pct, forex-denominated 1.53pct in October 2018

Monday, December 3, 2018

Overdue loans denominated in lei (RON) of households and companies were standing at 5,017 billion lei in late October 2018, up 0.9pct on a monthly basis, while overdue forex loans increased by 1.53pct, to the equivalent of 3.175 billion lei, according to a report by the National Bank of Romania (BNR) released on Tuesday.Total RON loans reached RON 163.76 billion in October (0.92pct more than in the previous month), of which 65.846 billion lei were taken out by ...

BNR official: Commercial banks cannot loan more money to the state

Monday, December 3, 2018

Romania has no more room to increase the debt by accumulating budget deficits, given that the maximum level that the local economy can sustain is 40-45% of GDP at the most. The local banking system, the largest financier of the public debt, is already overexposed on state bonds, Eugen Radulescu, director of the Directorate for Financial Stability with the National Bank of Romania (BNR) said on Monday. “The maximum level of debt that the Romanian ...

Romania challenges EC fine for not implementing anti-money laundering directive

Monday, December 3, 2018

181203103532AML.jpg

Romania is trying to convince the European Court of Justice (CJEU) to reject the fine that the European Commission wants to impose on Romania for not implementing the European directive against money laundering, romania-insider.com informs. The European Commission referred Romania to the European Court of Justice in August this year, ...

Bittnet's third corporate bond issue, worth 4.7 million lei, listed on BVB

Monday, December 3, 2018

Bittnet (BNET), the first IT company in Romania that was listed on the AeRO market operated by the Bucharest Stock Exchange (BVB) had on Wednesday its third issue of corporate bond, worth 4.7 million lei, which entered trading within the BSE's Alternative Trading System, a BVB press release informs."We arrived on the stock market in 2015 as a company with interests in the area of technology and education and with several courageous promises and plans of ...

Romanian has second-lowest tax-to-GDP ratio in the EU

Monday, December 3, 2018

The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of GDP, rose to 40.2 percent in the EU in 2017, from 39.9 percent in 2016, http://business-review.eu reports. Romania has the second-lowest ratio in the EU of 25.8 percent of GDP, after Ireland (23.5 percent). The tax-to-GDP ratio varies significantly between Member States, with the highest share of taxes and ...

First Bank officially opens its first branch in Romania

Monday, December 3, 2018

First Bank, the former Piraeus Bank, Wednesday opened its first branch on the local market under a new identity, U.S. Ambassador Hans Klemm joining the event, which took place at the bank’s headquarters on Nicolae Titulescu Boulevard in Bucharest, along with Dominic Bruynseels, Executive President First Bank Romania and Alexandru Petrescu, Minister of Communications, romaniajournal.ro informs. According to the financial institution’s ...

OTP Leasing Romania gets RON 5.5 million capital increase

Monday, December 3, 2018

The shareholders of OTP Leasing Romania, OTP Bank Romania and Merkantil Bank Hungary, approved a capital increase of RON 5.52 million. The capital increase was made through additional cash contribution, fully paid in RON in the company’s main account, opened with OTP Bank Romania. The shareholders contributed to the capital increase, based on their own participation in the share capital, as follows: OTP Bank Romania ...

European Commission proposes Romania annual structural adjustment of at least 1pct of GDP

Monday, November 26, 2018

The European Commission has established that no effective action was taken by Romania in response to the council recommendation of June and proposes that the council adopts a revised recommendation to Romania to correct its significant deviation from the adjustment path towards the medium-term budgetary objective.In June 2018, the council issued a recommendation of an annual structural adjustment of 0.8 percent of GDP in both 2018 and 2019 to Romania under the ...

Isarescu: Worse than moving slowly on the road to convergence, is to miss the way. We are at risk

Monday, November 26, 2018

181126121953images__4_.jpeg

“Worse than progressing slowly on the road of convergence, or stepping on the spot, is to miss the road. We are at risk. Being and staying on the right track in the approach to recover the gaps should be our permanent concern, if we want to preserve the coherence of the economic integration process,” National Bank Governor, Mugur Isarescu, said on Wednesday at the conference ‘Romania 2030: How do we recover the gaps to Western ...

Daianu: Global economy to enter into a new recession but not as bad as the financial crisis

Monday, November 26, 2018

181126122047images__5_.jpeg

The global economy could enter into a new recession into the next period but not as bad as it was the crisis registered in 2007-2009, National Bank of Romania (BNR) board member Daniel Daianu said on Wednesday. “This must be said: the technical recession is not the same thing with real recession. It can turn into a real recession if you have a cocktail of circumstances like: major international corrections, a 9-year economic recovery in the US ...

Uniqa Insurance and Uniqa Life Insurance report a 9 pct drop in gross written premiums at 9 months

Monday, November 26, 2018

Uniqa Insurance and Uniqa Life Insurance announced that in the first nine months of the year, compared to the same period of 2017, they recorded a decrease of 9 percent in gross written premiums, to EUR 69 million, in the context of lower exposure on the auto segment. The best dynamics in the first nine months of this year were recorded in the life insurance segment, within Uniqa Life Insurance, with sales of EUR 13.2 million, ...

Local and foreign investment funds' net assets down 5.6 pct year-to-date

Monday, November 26, 2018

Net assets managed by the 206 local and foreign open- and closed-end investment funds were by 0.7 pct less this October, at 43.2 billion lei and 9.25 billion euro, respectively, and 5.6 pct down since the beginning of the year, with net outflows of the month amounting to 234 million lei (50.2 million euro), Romania's Fund Managers Association (AAF) reported on Tuesday.The net assets of the 78 local open-end funds were 1.3 pct down in October from the previous ...

ING Bank: Romania’s public finances at their worst since the financial crisis; technical recession expected in 2019

Monday, November 26, 2018

Analysts from ING Bank have issued a warning on the future of the Romanian economy, given that fiscal policies and the budget are in the worst situation they’ve been since the crisis, economic growth is slowing and the country is entering an electoral period. “Romania is entering election mode, with the bulk of the previous electoral promises backloaded to maximise the impact. Hefty state handovers without structural reforms should widen ...

National Bank of Romania, only authorised institution to issue currency

Monday, November 26, 2018

Issuing Sibcoin, if it is a currency, as defined by the law, is not in compliance with the legislation in force, the National Bank of Romania being the only institution authorized to issue currency in the form of banknotes or coins, BNR representatives said."Article 12 of Law 312/2004 specifies that BNR has the exclusive right to issue, namely the National Bank of Romania is the only institution authorized to issue currency in the form of banknotes and coins as ...

Premium News

Daily

Friday, July 19, 2019

Financial & Banking

Monday, July 15, 2019

Economic

Tuesday, July 16, 2019

Companies

Wednesday, July 17, 2019

Energy & Environment

Thursday, July 18, 2019