Loading page...

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

Subscribe|Login

Financial & Banking

BNR Board: the annual inflation rate had followed a steeper upward path in June to reach 0.85 percent

Monday, August 14, 2017

The National Bank of Romania Board members present at the meeting: Mugur Is?rescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the National Bank of Romania; Eugen Nicol?escu, Board member and Deputy Governor of the National Bank of Romania; Liviu Voinea, Board member and Deputy Governor of the National Bank of Romania; Marin Dinu, Board member; Daniel D?ianu, Board ...

Reuters: Romania's central bank to alter policy to curb inflation

Monday, August 14, 2017

Romania's central bank will alter monetary policy to fight inflation by narrowing the gap between lending and deposit rates, Governor Mugur Isarescu said on Tuesday as the bank raised its inflation forecast for this year and next. Excess demand, volatile food prices and energy tariff hikes will push inflation to 1.9 percent at the end of this year - 0.3 percentage points higher than the previous forecast - and 3.2 percent at the end of 2018, the bank ...

RBI's H1 after-tax profit in Romania leaps 46% on lower provisioning costs

Monday, August 14, 2017

Raiffeisen Bank International (RBI) said on Thursday its after-tax profit from operations in Romania jumped 46% on the year to 55 million euro ($64.5 million) in the first half of 2017 due to lower provisioning costs, seenews.com reads. In the six months through June, net provisioning fell to 20 million euro from 26 million euro in the corresponding period of 2016, the bank said in its H1 2017 financial report. In the ...

Moody's upgrades Romanian top lender BCR's deposit rating to Baa3

Monday, August 14, 2017

Moody's said it has upgraded the long-term local and foreign-currency deposit ratings of Romania's top lender Banca Comerciala Romana (BCR), part of Austria's Erste Group, to Baa3/Prime-3 from Ba1/Not Prime, seenews.com reports. At the same time, the ratings agency has upgraded the bank's baseline credit assessment (BCA) to b1 from b2, its adjusted BCA to ba2 from ba3 and its long-term and short-term Counterparty Risk Assessment (CRA) to ...

Romania's Banca Transilvania boosts H1 net profit

Monday, August 14, 2017

  Romania's Banca Transilvania [BSE:TLV] said on Thursday its net profit rose by 8% year-on-year in the first half of 2017, reaching 496 million lei ($127 million/109 million euro), seenews.com informs. "Our results confirm the internal growth estimations for this year and we are pleased to see that our role in the Romanian economy grows with every progress achieved by each of our business lines. This progress translates ...

ASF eliminates, as of October 1, the 1pc quota applied to local intermediaries operating on the capital market, sets factor ‘N’ value

Monday, August 14, 2017

The Board of the Financial Supervisory Authority (ASF) has decided at the meeting on Wednesday to abolish the application of 1% quota on the operating income for local intermediaries – financial investment services companies and credit institutions registered in the ASF Register as intermediaries, the measure will come into force as of October 1, 2017, romaniajournal.ro reads. According to a press release, the amendment to Regulation no. 16/2014 ...

BVB’s profit in H1, up by 180 pc yoy, confirming its position in the region

Monday, August 14, 2017

The Bucharest Stock Exchange (BVB) had the best quarter of the last two years, in terms of trading value in all markets, with new public offerings from private companies and new educational projects dedicated to both investors and entrepreneurs, romaniajournal.ro informs. The net profit for the first half amounted RON 5.15 million, up by 180 percent year-on-year (RON 1.80 million in H1 of 2016), the profit attributable to the shareholders of the parent ...

Berenberg's Hesse: MSCI's Romania Total Return index jumps over 150pct in 5 years in USD terms

Monday, August 14, 2017

The share price performance of Romanian listed companies has been outstanding, as witnessed by the MSCI's Romania Total Return index which jumped more than 150pct over the last 5 years in USD terms, according to Carsten Hesse, EME Equity Strategist with Germany's Berenberg investment bank. "Thanks to a very strong economic recovery and a booming private ...

‘First House’, a “modest” loan program for Romanians, Lazea says

Monday, August 14, 2017

170814095255568a45bd98e4ba6ec2533952de7175d0.jpg

The “First House” program had a limited use and only by low-income borrowers, similar to the situation in the case of standard mortgage loans. Thus, the program had a modest role from a social point of view, Valentin Lazea, National Bank of Romania (BNR) Chief Economist said on Wednesday, quoted by romaniajournal.ro. ”The only social aspect that this program provides is a greater access of young people to the purchase of a dwelling, ...

Romanians gained from pensions Pillar II over EUR 1.5 bln

Monday, August 14, 2017

Romanians made gains from pensions Pillar II, as the mandatory private pensions had gross contributions of RON 28.2 billion in the 9 years of activity and the difference of RON 35.1 billion represents the total gain from investments, so that Romanians gained over EUR 1.5 billion, according to a release of the Association for Privately Administered Pensions from Romania (APAPR), business-review.eu informs. According to the Association’s data, over ...

Operational leasing market exceeded, mid-2017, a 7.5 pct advance as compared to the end of 2016

Monday, August 14, 2017

170814095451g_21133.jpg

The operational leasing market exceeded, mid-2017, the 64,350 units in management, a 7.5 pct advance as compared to the end of 2016, according to a press release of the Association of Operational Leasing Companies (ASLO) sent on Tuesday. During ...

People with arrears longer than 30 days in banks and NFIs more by 1.1% in June

Monday, August 14, 2017

The number of individuals with arrears exceeding 30 days to banks and non-banking financial institutions (NFIs) increased by 1.1 per cent in June compared with the previous month, to 687,302, according to the most recent data displayed by the National Bank of Romania ...

Romania's UniCredit Bank posts drop in H1 pre-tax profit

Monday, August 14, 2017

Romania's UniCredit Bank saw its pre-tax profit fall 5.4% year-on-year to 57 million euro ($67.5 million) in the first half of 2017, UniCredit Group said on Thursday quoted by seenews.com. UniCredit Bank generated an operating income of 186 million euro in the first half of 2017, 0.2% lower on the year, the lender's parent, Italy's UniCredit Group, said in its H1 financial statement. Net interest income rose 3.4% ...

BNR Board to keep unchanged the monetary policy rate at 1.75 percent per annum

Monday, August 7, 2017

In its meeting of 4 August 2017, the Board of the National Bank of Romania (NBR) decided the following: to keep unchanged the monetary policy rate at 1.75 percent per annum; to pursue adequate liquidity management in the banking system; and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities ...

Ionut Misa, Finance minister: 70% of banks have not paid tax  on profit in last 5 years

Monday, August 7, 2017

Budget rectification will be positive, and ANAF exceeded its July plan, the highest in its history, said Ionut Misa, the finance minister on July 31, at a show on Realitatea TV. He insisted that the 3% deficit target of GDP will not be exceeded. “We are counting on the fact that rectification will be positive. Incomes can be felt. We have a deficit for 6 months. This month, is the month with the biggest plan in ANAF’s history. The income ...

Economic Commission chairman asks Finance Ministry to present list of 31 banks which do not pay taxes

Monday, August 7, 2017

Liberal (PNL) senator Daniel Zamfir, the chairman of the Economic Commission, Industries and Services, asked the finance minister, Ionut Misa on Thursday to send the commission, until August 10, the list of the 31 banks operating in Romania which have not paid tax on profit in the last five years. “Following your public statement that 31 banks operating in Romania have not paid tax on profit in the last five years, I ask you to send the Economic ...

Sobolewski : BVB might launch the derivatives market by the end of next year

Monday, August 7, 2017

The Bucharest Stock Exchange (BVB) might launch the derivatives market by the end of next year, BVB CEO Ludwik Sobolewski told Agerpres.The biggest change will be the launch of the derivatives market. It will be good if we have this market in place by the end of next year, Sobolewski said. He said that other products to add in time to BVB's range of instruments are related to warrants. I think the greatest change will be when we ...

Merger of BVB and Sibex to be completed in the coming weeks

Monday, August 7, 2017

170807104709Fuziune_BVB_Sibex.jpg

The merger of the Bucharest Stock Exchange (BVB) and Sibex - Sibiu Stock Exchange should be completed in the coming weeks, as the final decisions of the Financial Supervisory Authority (ASF) are being awaited for, BVB CEO Ludwik Sobolewski said.The merger should happen in the coming weeks. We are now waiting for the final ASF decisions, Sobolewski said. He went on to say that the Romanian capital market has been undervalued for many years and now ...

Bucharest Stock Exchange (BVB) trades this July was up 22 percent from the previous month

Monday, August 7, 2017

The total value of Bucharest Stock Exchange (BVB) trades this July was up 22 percent from the previous month and 186 percent higher YoY, having hit 1.3 billion lei (280 million euro), informs a report on the BVB website. The segment of fixed income instruments (bonds) recorded a strong advance as a result of the bond issue offerings carried out by UniCredit Bank (610 million lei, or 134 million euro). The bond segment accounted for almost half of the total ...

Multinationals believe there is a radical global change in tax, tax control

Monday, August 7, 2017

Representatives of most multinational companies believe that there is a radical global change in both tax and tax control, business-review.eu reads. Accordingly, the global tax model is undergoing a process of alignment with other principles, and the approach of the tax authorities during controls becomes stricter, a survey by Deloitte published in August shows.  In its fourth edition, the study analyses the input of 460 financial directors, tax ...

Premium News

Daily

Friday, August 18, 2017

Financial & Banking

Monday, August 14, 2017

Economic

Tuesday, August 15, 2017

Companies

Wednesday, August 16, 2017

Energy & Environment

Thursday, August 17, 2017