Loading page...

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

Subscribe|Login

Financial & Banking

Bulgaria, Macedonia, Romania buck decline in NPL volumes in CESEE in 2015

Monday, October 31, 2016

 All countries in Central and Southeastern Europe except Bulgaria, Macedonia and Romania recorded a drop in NPL volumes last year, according to a report of European Bank Coordination "Vienna" Initiative quoted by seenews.com. Bulgaria, Montenegro and Romania are the most vulnerable countries with higher non-performing loan (NPL) ratios and lower NPL coverage ratios than the average recorded for Central and Southeastern Europe at end-2015, a NPL ...

The impact of elimination of the 102 taxes is of 1.6 billion lei, double against the draft estimate

Monday, October 24, 2016

The impact of the draft law which includes the elimination of 102 non-fiscal taxes starting with 1 January 2017 is of 1.6 billion lei, 0.2% of the GDP the double of the draft estimate, stated on Wednesday the minister of public finances Anca Dragu. She admitted the sum is double against that mentioned in the draft law. On the other hand, the minister of public finances mentioned that these taxes have no connection to the Fiscal ...

Lazea: Competitive Romania is the only strategy which has budget and prioritisation: the budget for 5 years is of 17 billion euro

Monday, October 24, 2016

161024112731Valentin_Lazea.jpg

The programme ‘ Competitive Romania’ the strategy which means to ensure quick convergence of Romania to the countries in Western Europe has a budget for the first five years of implementation of 10.5% of GDP 17 billion euro respectively, considers the head economist of the National Bank of Romania(BNR), Valentin Lazea. ‘The main challenge is the convergence with the countries in Western Europe. To reach from 57% of the European ...

Dumitru (Fiscal Council): We are witnessing unsustainable economic growth

Monday, October 24, 2016

161024112920ionut_dumitru_588x330.jpg

Consumption tax cuts, included in the new Fiscal Code and ample salary increases of over 20% deteriorate macroeconomic balances, while budget deficit, which will be under the announced target this year because investment expenses were not made, show a clear trend to reverse fiscal consolidation, according to the president of the Fiscal Council, Ionut Dumitru. “We see an economic growth over potential, most probably unsustainable: GDP grows by ...

MFP signed with Transearch International the contract for the selection of the new leadership of CEC Bank

Monday, October 24, 2016

The ministry of public finances signed with the company SC Transearch International the contract worth 80,100 lei without VAT for the selection of the 9 members of the Board of CEC Bank, a press release of the ministry says. ‘The ministry of public finances signed with SC Transearch International the contract for the selection of the 9 members of the Board of CEC Bank. The purpose is that of making more efficient, developing and putting to value ...

ING distributes mPOS device to Romanian merchants

Monday, October 24, 2016

Businesses in Romania can now process card payments in an easy, low-cost way, thanks to a new mobile payments device launched by ING recently, finextra.com reads. The device is light, fits in a pocket and connects via Bluetooth to a mobile phone app that enables both debit and credit cards payments to be made and processed.Merchants no longer require expensive data contracts and telephone and modem connections to operate bulky mobile card ...

Romanian IT group Gecad turns into investment fund

Monday, October 24, 2016

Romanian IT group Gecad said on Friday it is transforming itself into an investment fund and is changing its name into Gecad Ventures, seenews.com reads. "Gecad Ventures is a natural step in the journey we started as an investment fund. The sectors, in which we are interested to invest and the attention to early-stage projects remain unchanged, we just talk of a new positioning, for which an investment fund is more suitable," Gecad's founding partner ...

EIB Group approves EUR 540 mln loan deal for SMEs in Romania

Monday, October 24, 2016

The EIB Group (European Investment Bank and European Investment Fund) signed an agreement with the Government of Romania and the European Commission for the implementation of the SME Initiative in Romania, which will support SMEs with combined financing worth EUR 540 million, business-review.eu informs. Romania is contributing EUR 100 million from its European Structural and Investment Funds to this EU ...

Directors with the Public Finance Ministry and the National Tax Administration Agency are prosecuted for 600 million lei tax evasion

Monday, October 24, 2016

Several directors at the time with the Public Finance Ministry (MFP) and the National Tax Administration Agency (ANFP) are prosecuted under court supervision in the alcoholic beverages criminal case of about 600 million lei tax ...

ASF: cap on the compensation payable for bodily injury and death will rise as of 2017

Monday, October 24, 2016

The cap on the compensation payable for bodily injury and death will rise as of 2017 to 6.07 million euro from 5 million euro in 2016, according to a draft auto insurance regulation posted on the website of the Financial Supervisory Authority (ASF ...

Romania's Fondul Proprietatea sells 6.4% stake in OMV Petrom

Monday, October 24, 2016

Romanian investment fund Fondul Proprietatea [BSE: FP] sold a 6.4% stake in oil and gas group OMV Petrom [BSE:SNP] for 682 million lei ($166 million/151 million) in four separate transactions, data from the Bucharest Stock Exchange (BVB) showed quoted by seenews.com. Before Monday's sale Fondul Proprietatea owned 19% of OMV Petrom. Fondul Proprietatea sold most of the shares, 2.87 billion, for 0.21 lei ($0.5/0.5 euro) ...

Fine collections this year of ANAF, 30 percent higher than last year

Monday, October 24, 2016

Fine collections this year of the Anti-fraud department of the National Tax Administration Agency (ANAF) are 30 percent higher than last year, head of the institution Dragos Doros told a specialist conference on Tuesday. Doros said that ...

Bloomberg: Romania Parliament Approves Law to Convert Swiss-Franc Loans

Monday, October 24, 2016

Legislation allows conversion into lei at historical rates Banks may incur losses of $586 million, central bank says Romanian lawmakers approved a bill allowing the ...

ANAF has so far this year realised assets worth 31 million euro from judicial execution

Monday, October 24, 2016

The National Tax Administration (ANAF) has so far this year realised assets worth nearly 140 million lei (rd 31 million euro) from judicial execution, ANAF Chairman Dragos Doros told a Deloitte conference in Bucharest on ...

Almost one billion euro was taken out of Romania over the last five years

Monday, October 24, 2016

161024113058euros_1.jpg

Almost one billion euro was taken out of Romania in the last five years and with this money we could have made many projects, stated on Friday Ionut Misa general manager of the General Department of Administration of Big Tax-payers in National Tax Administration (ANAF) when referring to the transfer prices. " ‘Only from 5 companies which ...

Bloomberg: Romanian Central Banker Sees No Immediate Need to Tighten Policy

Monday, October 17, 2016

Too early to worry about overheating, deputy governor says Voinea sees Romania as underrated given its fundamentals There’s no need at the moment for tighter monetary policy in Romania because the economy is experiencing the “best macroeconomic picture” since the collapse of communism and growth hasn’t become unsustainable, central bank ...

BNR official:there are no reasons to increase the interest rate

Monday, October 17, 2016

161017101722interest_rates_2.png

Daniel Daianu, member in the Board of the National Bank of Romania (BNR) stated on Friday that he sees no reasons to increase the interest rate, even if the country is close to getting out of the negative inflation, Reuters says. ‘We have inflationist pressure following the increase of salaries in the public and private sector; these pressures are partially compensated by the gains in productivity. That is why, we appreciate that it is not the ...

BNR: Balance of payments and external debt - August 2016

Monday, October 17, 2016

16101710182216467922_Abstract_word_cloud_for_External_debt_with_related_tags_and_terms_Stock_Photo.jpg

According to BNR – the central bank, in January - August 2016, the balance-of-payments current account posted a deficit of EUR 2,110 million, compared with EUR 939 million in January - August 2015; the goods balance and primary income balance recorded higher deficits, by EUR 1,333 million and EUR 80 million respectively, while the surplus on secondary income stood EUR 268 million lower and that on services balance widened by EUR 510 ...

Jan-Aug FDI into Romania up 17.4% y/y

Monday, October 17, 2016

Foreign direct investment (FDI) into Romania increased 17.4% on the year to 2.741 billion euro ($3.02 billion) in the first eight months of 2016, the central bank, BNR, said on Friday, quoted by seenews.com. Out of the total, equity investment amounted to 2.379 billion euro and inter-company lending recorded a net value of 362 million euro, the BNR said in a statement. Last year, FDI into Romania increased 25.3%, ...

Almost 352 million lei collected in nine months of 2016 from the large taxpayers

Monday, October 17, 2016

 Tax collection from the large taxpayers grew in the nine months of 2016 by almost 352 million lei, to 63.21 billion lei, on Friday announced the National Tax Administration Agency (ANAF) in a press ...

Premium News

Daily

Thursday, March 23, 2017

Financial & Banking

Monday, March 20, 2017

Economic

Tuesday, March 21, 2017

Companies

Wednesday, March 22, 2017

Energy & Environment

Thursday, March 23, 2017