Loading page...

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

Subscribe|Login

Financial & Banking

Romania c-bank likely to hike key rate in 2018 – Erste

Monday, October 16, 2017

17101610025184303368.jpg

Romania's central bank will have to increase its key rate next year, as inflation is expected to pick up, Austria's Erste Group said on Wednesday, seenews.com informs. A pickup in inflation to a level above the upper end of the target band looks very likely in the second quarter of 2018, Erste Group analysts said in a short note on Romania. Romania's annual inflation rate rose to 1.8% in September, from 1.2% in August, ...

Bad Payers Still Causing Problems for Romanian Firms

Monday, October 16, 2017

 On average, business to business payments are made after 39 days in Romania (down from 41 days in 2016), after 37 days in the Czech Republic and 36 days in Poland.However, Romania has made giant strides in reducing the amount of time it takes for payments to be made, ...

300 firms have applied for the Value Added Tax (VAT) split payment mechanism

Monday, October 16, 2017

Fewer than 300 firms have applied for the Value Added Tax (VAT) split payment mechanism, until Tuesday morning, given that only in Bucharest 590 firms have benefited from consultancy, according to sources of The National Agency for Fiscal Administration ...

PwC: Romania records highest VAT collection deficit in EU

Monday, October 16, 2017

Romania remained the EU member state with the highest VAT collection deficit in EU in 2015, namely 37.2%, according to the European Commission, romania-insider.com informs. This means that the state’s VAT ...

Raiffeisen Bank: NPLs deals will continue in Romania as market matures

Monday, October 16, 2017

The transactions involving non-performing loans (NPLs) will continue on the local market, with prices ranging depending on the size of the portfolio, says Mihai Busuioceanu, vice president in the risk division of Raiffeisen Bank. Quoted by business-review.eu “It would be good to have in Romania to have an organized market for the sale of NPLs,” said Busuioceanu, during a press conference marking ...

PAD decreased by 3.5pct, reaching on September 1, 2017 the number of 1,660,916

Monday, October 16, 2017

The number of active compulsory home insurance policies (PAD) decreased by 3.5pct, having reached on September 1, 2017 the number of 1,660,916, compared to 1,721,434 PAD policies active on September 30, 2016, according to the statistics of the Natural Disaster Insurance Pool (PAID), the company ...

BNR Board decisions on monetary policy:1.75 percent per annum

Monday, October 9, 2017

17100910081517070410152951817803_Diagram_of_Monetary_Policy_Stock_Photo.jpg

* In its meeting of 3 October 2017, the Board of the National Bank of Romania (BNR)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 narrow the symmetrical corridor of interest rates on theBNR’s standing facilities ...

International reserves – September 2017

Monday, October 9, 2017

On 30 September 2017, the National Bank of Romania’s foreign exchange reserves stood at EUR 33,320 million, compared to EUR 34,955 million on 31st August 2017. During the month, the following flows have taken place: EUR 965 million worth of inflows in the form of changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s ...

Bucharest stock indices rise in lower turnover

Monday, October 9, 2017

Bucharest stock indices rose on Friday in lower turnover, Bucharest Stock Exchange (BVB) data showed quoted by seenews.com. The total equity turnover of the BVB fell to 27.7 million lei ($7.1 million/6 million euro) from 38.7 million lei on Thursday. Lender Banca Transilvania [BSE:TLV] rose 3.13% at 2.31 lei in the day’s largest turnover of 7.35 million lei. Blue-chip natural gas producer Romgaz ...

Reuters: Hungary's OTP Bank aims to boost Romanian market share to up to 8 pct - report

Monday, October 9, 2017

Hungary’s OTP Bank aims to boost its market share in Romania to up to 8 percent, OTP Group Chief Executive Sandor Csanyi was quoted as saying in a media report on Friday, Reuters correspondent . “In all the countries we are operating in, our target is a market share of 10 percent,” Csanyi was quoted as saying by daily Ziarul Financiar. “However, I don’t think we will reach 10 percent in Romania in the next 20 ...

Raiffeisen Bank: inflation to reach 4 percent in mid-2018

Monday, October 9, 2017

171009100916inflation_360x240.jpg

There's an obvious upward trend of the Romanian interbank offered rate ROBOR, and the indicator might surpass 2 percent when inflation reaches 4 percent in mid-2018, said Raiffeisen Bank chief economist and Fiscal Council president Ionut Dumitru. "ROBOR's upward trend was very clear, but the recent build-up of events and the very rapid growth are the effect of short-term factors that have sharpened this trend," said Raiffeisen Bank's chief ...

BNR's Isarescu: Litigation costs burden clients and banks alike

Monday, October 9, 2017

Litigation costs affect clients and banks alike, and for lower costs of loans, we have to take them into consideration, Governor of the National Bank of Romania (BNR) Mugur Isarescu told a conference called "Alternative resolution of financial and banking litigations". "Law and the institution combined in Romania make it that before the courts step in or even to avoid their trail, if banks and clients are in litigation, they are equally entitled to ...

European Commission proposes far-reaching reform of the EU VAT system

Monday, October 9, 2017

The European Commission has today launched plans for the biggest reform of EU VAT rules in a quarter of a century. The reboot would improve and modernise the system for governments and businesses alike. Overall, over€150 billion of VAT is ...

BVB: value of transactions with shares exceeded 1.8 billion euros at end-September

Monday, October 9, 2017

The value of transactions with shares on the Bucharest Stock Exchange (BVB) exceeded 1.8 billion euros at end-September, recording an advance of over 30pct over the first nine months of last year, reads a press release issued by the operator of the capital market sent on last Thursday. "Investors traded shares worth more than 300 million euros last month, up 70pct from August 2017. The average daily trading value on the share segment was 14.7 million euros in ...

CEC Bank posted a three-quarter pre-tax profit of about 203.9 million lei

Monday, October 9, 2017

CEC Bank posted a three-quarter pre-tax profit of about 203.9 million lei, the bank announced on Thursday. With a net balance of 28,595.9 million as of September 30, 2017, up 1.54 percent from the end of 2016, CEC Bank managed to increase its market share from 7.16 percent by total bank assets as of December 31, 2016 to 7.23 percent as of June 30, 2017, ranking seventh in the Romanian banking system. "The results recorded in the first nine ...

EBRD providing 10 mln euro loan to Garanti Leasing Romania to back MSMEs

Monday, October 9, 2017

The European Bank for Reconstruction and Development (EBRD) said last week it is providing a loan of up to 10 million euro ($11.7 million) to Garanti Leasing, part of financial group Garanti Romania. Garanti Leasing will use the loan to broaden access to finance for local micro, small- and medium-sized enterprises (MSMEs), the EBRD said in a press release. Even though leasing represents an attractive alternative for local MSMEs to support their ...

Romania’s Competition Council starts investigation on banking system

Monday, October 9, 2017

Romania’s Competition Council has started an investigation on the local retail banking system, romania-insider.com reports. The council wants to find out why the banking services in Romania are more expensive than in other countries. It will verify current accounts, loans and credit cards, reports ...

Bucharest Stock Exchange fails to enter emerging market list

Monday, October 9, 2017

The FTSE Russell financial assessment agency didn’t promote the Bucharest Stock Exchange to the emerging market category from the frontier category, romania-insider.com reads. However, it decided to keep it on the watchlist for another year. A new decision could be made in September next year. The agency included Romania on its watchlist in September last year. The FTSE announced ...

BCR Asigurari to merge with AXA Life Insurance Romania

Monday, October 9, 2017

AXA Life Insurance’ shareholders initiated the merger by absorption process, resulting in the absorption of former local subsidiary of French AXA by BCR Asigurari de Viata Vienna Insurance Group, under the approval of the Financial Surveillance Authority (ASF), business-review.eu informs. „The merger will be initiated and realized based on the merger project from April 30, developed by the members of ...

The accelerated growth of ROBOR is kept: the indicator for three months got to 1.58%

Monday, October 2, 2017

171002100223sign_signal_prices_growth_mathematics_percent_closing_out_sale_HK69TK.jpg

The ROBOR indicator for three months, on which depends  the costs of loans in lei with variable interest, grew on Friday to 1.58% against a level of 1.46%recorded a day before and 1.11% recorded on Monday 25th September, according to the BNR information. Similarly the indicator ROBOR for six months, used in the evaluation of the interests to mortgage loans, increased to 1.69% from 1.57% as it was on 28 September. At the ...

Premium News

Daily

Monday, December 11, 2017

Financial & Banking

Monday, December 11, 2017

Economic

Tuesday, December 5, 2017

Companies

Wednesday, December 6, 2017

Energy & Environment

Thursday, December 7, 2017