Loading page...

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


Financial & Banking

PM Tudose: There are three options for Pension Pillar II

Monday, September 4, 2017


Prime Minister Mihai Tudose said Tuesday for ‘Romania TV’ private broadcaster that there are three options regarding Pension Pillar II, to keep it as it is, to diminish the share of contributions to Pension Pillar II or to allow citizens to opt for the desired alternative, romaniajournal.ro informs. “Three variants: keep it as it is and only to change the commissions charged today by the private administrators – because, I ...

Sovereign Investment Fund project to reach Romanian Parliament in September

Monday, September 4, 2017

The draft law on Romania’s Sovereign Investment Fund will be sent to the Parliament in September, after a last political discussion within the Social Democratic Party (PSD), said yesterday prime minister Mihai Tudose, romania-insider.com informs. The Government approved the draft project on setting up the fund in July. The Finance Ministry will manage this ...

BNP Paribas to open branch in Romania next year

Monday, September 4, 2017

The largest bank in France and the second in the European Union, after HSBC, BNP Paribas will open a branch in Romania by the end of the first quarter next year, romaniajournal.ro informs. The steps have already begun, according to Economica.net. The first step is the transformation of non-bank financial institutions into branches of the bank, implicitly in Romania, according to the recent model of the one in Czech Republic. Unlike the subsidiaries, ...

BVB-listed companies value has increased by EUR 8 bn in four years

Monday, September 4, 2017

The market value of all companies listed on the Bucharest Stock Exchange (BVB) has increased significantly over the last four years, romaniajournal.ro reports. According to a press release, the Romanian and foreign companies listed on BVB at end-July, 2013, had a cumulative capitalization of EUR 23.2 billion. From then until July 31, 2017, their total capitalization went up by 53 percent to EUR 35.5 billion. As regards the ...

Non-performing loans dropped in June 0.72 percentage points from the month before

Monday, September 4, 2017

The ratio of non-performing loans dropped in June 0.72 percentage points from the month before to 8.32 percent, according to data released by the National Bank of Romania (BNR). In a YoY comparison, the respective indicator was down by 2.98 ...

MEP Stolojan about the broken down payment of VAT: it is complicated for the Romanian economy

Monday, August 28, 2017

The liberal (PNL)  MEP Theodor Stolojan considers that the broken down payment of VAT represents ‘ a complicated matter’ for the Romanian economy. ‘Broken down payment of the VAT is a complicated matter for the Romanian economy, It will produce much trouble for the small entreprises. It seems that the PSD has people who remember  the way they worked during the socialist years. During those times, every entreprise when they ...

Reuters: Romanian government may cut private pension contributions

Monday, August 28, 2017

Romania was analyzing whether to cut contributions to mandatory private pension schemes from next year and redirect some of the funds into state coffers, the prime minister said on Friday quoted by reuters.com Romania overhauled its communist-era pension system in 2008, making it compulsory for working Romanians under 35 to contribute to a “second pillar” of private pension schemes as well as their state ...

PFP:Trimming the contributions to Pillar II is as harmful as the nationalization

Monday, August 28, 2017

Trimming the contributions to the mandatory privately-managed pension funds (Pillar II) is as harmful as the nationalization or dismantling of these funds, the more so as the law actually provides for a higher contribution than the current transfers, the Association of Participants in Pension and Investment Funds (PFP) said in a Thursday ...

ASF: no talks about any kind of modification of the mandatory privately managed pensions Pillar II

Monday, August 28, 2017

There are no talks about any kind of modification of the current functioning mechanism of the mandatory privately managed pensions Pillar II, the Financial Supervisory Authority (ASF) said Wednesday in a ...

Fitch warns Romania pro-cyclical fiscal policy, rapid wage growths increase overheating risks

Monday, August 28, 2017

Romania has posted another quarter of rapid economic growth, but pro-cyclical fiscal policy and rapid wage growth in 2017 have increased overheating risks, Fitch Ratings agency said on Wednesday in a press statement. Fitch say that it revised its real Gross Domestic Product (GDP) growth forecast for 2017 up to 5.1 percent from 4.8 percent when it affirmed Romania's 'BBB-'/Stable sovereign rating last month. "If the preliminary 2Q17 reading is confirmed ...

Romania's Libra Internet Bank H1 profit flattish, net assets double

Monday, August 28, 2017

Romania's Libra Internet Bank said on Thursday its first-half net profit remained almost flat on the year, while its net assets almost doubled to 4.15 billion lei, seenews.com informs. The bank's net profit amounted to 23.96 million lei ($6.15 million/5.22 million euro) in the first six months of the year, compared to 25 million lei in the year-ago period, it said in a press release.  Deposits reached 3.72 billion ...

Keysfin study: over 400,000 companies, representing 64 percent of the economy, were having commercial debts în 2016

Monday, August 28, 2017

Three quarters of Romanian companies have come to resort to vendor loans, given that particularly for SMEs, bank financing represents a hard-to-access area, according to a Keysfin study sent on ...

Almost 35,000 Romanians have bank deposits over EUR 100,000

Monday, August 28, 2017

The number of Romanians with bank deposits over EUR 100,000 reached almost 35,000 at the end of June, according to Romania’s National Bank (BNR) quoted by romania-insider.com. All bank deposits up to EUR 100,000 are fully guaranteed in accordance with European law, which means that clients who have such deposits get fully reimbursed in case their bank goes bankrupt. Over 10 million people had bank deposits in ...

UNIQA Romania halves H1 pre-tax loss

Monday, August 28, 2017

Austrian insurance group UNIQA said on Wednesday its pre-tax loss from operations in Romania narrowed to 200,000 euro ($230,000) in the first six months of 2017 from 400,000 euro a year earlier, seenews.com reads. Total gross written premiums from operations in Romania fell 3% year-on-year to 51 million euro in the January-June period, UNIQA said in its first half financial report. UNIQA Romania's gross written premiums in the non-life insurance ...

EIF, Romania's BRD sign partnership deal on SME financing

Monday, August 28, 2017

The European Investment Fund (EIF) and Romania's BRD Groupe Societe Generale  [BSE: BRD] have concluded a new partnership to extend the range of financing products for small and medium-sized enterprises (SMEs) in the country, seenews.com reads. Through this partnership, BRD and the EIF aim to stimulate access to finance for local SMEs by providing new loans totalling up to 140 million lei ($36 million/31 million euro), both for the financing of ...

MF: Economic operators will have free access to a VAT account denominated in lei

Monday, August 28, 2017

Economic operators will have free access to a VAT account denominated in lei, to be opened with the Treasury, as of January 1, 2018, based on the "split VAT" mechanism, representatives of the Ministry of Finance (MF) told a meeting with a press on ...

Provident Financial shares dive on new profit warning

Monday, August 28, 2017

Shares in doorstep lender Provident Financial plunged 58% after it issued its second profit warning in months, romaniajournal.ro informs. It says it now expects to make losses of £80m to £120m as its debt collection rates have dropped to 57% compared with a previous rate of 90% in 2016, BBC reports. Bradford-based Provident recently changed the way it collected its loans, replacing self-employed agents with “customer experience ...

VIG H1 pre-tax profit in Romania up 63% on improved combined ratio

Monday, August 28, 2017

Vienna Insurance Group (VIG) said on Tuesday its operations in Romania generated a pre-tax profit of 5.8 million euro ($6.8 million) in the first six months of 2017, up 62.9% on the year, according to preliminary data quoted by seenews.com. This increase in profit was due to a significant improvement in the combined ratio, the company said in a conference call presentation of its first-half preliminary unaudited results posted on the corporate ...

BNR: Balance of payments and external debt - June 2017

Monday, August 21, 2017


In January - June 2017, the balance-of-payments current account posted a deficit of EUR 2,745 million, compared with EUR 1,958 million in January – June 2016; the deficit on trade in goods widened by EUR 1,051 million, the secondary ...

Romania’s Economy Named EU's Fastest Growing

Monday, August 21, 2017

Romania’s economy grew by a healthy 5.9 percent in the second quarter of the year, pushing its GDP to its highest level in 12 months. Romania’s economic growth exceeded expectations in the second quarter of 2017, keeping its position as the fastest growing country in Central and Eastern Europe. Romania’s gross economy went up by 5.9 per cent in the second quarter of this year ...

Premium News


Friday, January 19, 2018

Financial & Banking

Monday, January 15, 2018


Tuesday, January 16, 2018


Wednesday, January 17, 2018

Energy & Environment

Thursday, January 18, 2018