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PSD proposals to reshuffle the government: Nicolae Moga -for Interior Minister, Ramona Manescu - ForMin, Mihai Fifor - Deputy PM

Tuesday, July 16, 2019

Senator Nicolae Moga was validated on Monday by the Executive Committee (CEx) of the majority Social Democratic Party (PSD – ruling party) for the office of Interior Minister, while Mihai Fifor was validated for Deputy Prime Minister in charge with strategic partnerships, PSD national leader Viorica Dancila said at the end of the CEx meeting.At the same time, the PSD leadership took note of the proposal of the party's junior ruling partner Alliance of ...

PSD to have its own candidate in the presidential elections; Congress - August 3

Tuesday, July 16, 2019

The Social Democratic Party (PSD – ruling party) will have its own candidate in the presidential elections this November, to be validated by the Congress on August 3, the party leader, Viorica Dancila, announced on Monday, at the end of the meeting of the National Executive Committee."The PSD Congress that will validate the candidate for the presidential elections will be held on August 3. We invited the CExN to take into account the possibility of endorsing ...

Simona Halep to be presented with Romania's Star decoration

Tuesday, July 16, 2019

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President Klaus Iohannis has decided to award the highest distinction of the Romanian state, Romania's Star, in rank of Knight, to tennis player Simona Halep for winning the Wimbledon 2019 women's singles tournament."As a result of an extraordinary performance at the Wimbledon tennis tournament as well as in recognition and appreciation for the whole career, the President of Romania, Mr Klaus Iohannis, has decided to award the highest distinction of the Romanian ...

FinMin Teodorovici to propose several austerity measure

Tuesday, July 16, 2019

The leaders of the ruling Social Democrat Party discuss several austerity measures at the Executive Committee meeting , with Finance minister Eugen Teodorovici to propose a package that would be adopted together with the budget rectification by the end of this month. The austerity measures will mainly eye students and part of the public servants. The Finance minister intends to cut the scholarships of the students who are not working during summer. ...

Balance-of-payments current account deficit, up 32.6pct, Jan.-May, 2019

Tuesday, July 16, 2019

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In January-May 2019, Romania's balance-of-payments current account posted a deficit of 3,401 million euros, compared with 2,564 million in January - May 2018, according to a press statement released on Monday by the National Bank of Romania (BNR).The goods trade deficit widened by 1,476 million euros, while a surplus in services income increased by 116 million euros, while the deficit in the primary income balance narrowed by 778 million euros, and the surplus in ...

FDI down almost 10.2pct between Jan.- May 2019

Tuesday, July 16, 2019

Foreign direct investments dropped in the first five months of the year by approximately 10.2 percent compared to the same period of last year, to 1.491 billion euro, according to data published by the National Bank of Romania (BNR)."Non-residents' direct investments in Romania totalled 1.491 billion euro (compared to 1.660 billion euro in January - May 2018), of which equity (including estimated net reinvestment of earnings) amounted to 1.476 billion euro and ...

BVB did not manage to draw any listing in the first semester

Tuesday, July 16, 2019

The Bucharest Stock Exchange (BVB) did not draw any public offer (IPO) initiated in the first half of this year, although there were companies which stated their interest in financing through such operations, in exchange showing preference for the bonds issues, according to a study made by PwC which shows the fact that on the capital markets in Europe the value of IPO launched dropped by 47% at 12,1 billion euro, during the reference period, as compared to the first semester ...

Number of pensioners on social allowance down 1,945 in May 2019

Tuesday, July 16, 2019

 The number of beneficiaries of the social allowance for pensioners in May 2019 was 1,052,109, down 1.945 from the previous month, according to data centralized by the National House of Public Pensions (CNPP) .Of the total social allowance recipients registered in May, 872,686 were retired from the public system and 179,423 retired farmers.In the case of pensioners in the public system, the average amount of the indemnity paid from the state ...

Volume of Jan - May construction works up 23.1 pct YoY

Tuesday, July 16, 2019

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Compared to the previous month, in May 2019, the volume of construction works increased, as gross series, by 5.8% and fell, as adjusted series according to the number of working days and to seasonality, by 7.6%. Compared to the corresponding month of the previous year, the volume of construction works rose both as gross series and as adjusted series according to the number of working days and to seasonality, by ...

Romania, the second biggest fine in Central and Eastern Europe for breaking the GDPR

Tuesday, July 16, 2019

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A fine of 130,000 euro for breaking the GDPR offered to a bank is the second biggest fine after the 220,000 euro for Poland, shows a Deloitte analysis. After the coming into execution of GDPR, the first fine on 27 June 2019 was given when the National Authority for Data Protection (ANSPDCP) sanctioned with approximately 130,000 euro the breaking of the regulation 2016/679 by a bank. Compared to the fines given in Central and Eastern Europe, the ...

IMF: CESEE countries to lose 25% of labour force due to ageing, migration by 2050

Tuesday, July 16, 2019

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 The International Monetary Fund (IMF) expects the countries in Central, Eastern, and Southeastern Europe (CESEE) to lose 25% of their labour force by 2050 due to ageing and migration, IMF deputy managing director Tao Zhang said on Monday, seenews.com informs. "The population of the region, excluding Turkey, will decline by 12% by 2050 due to aging and migration. The reduction in the labour force is likely to be even larger: down ...

PM Dancila: government reshuffle will be decided on Monday

Monday, July 15, 2019

Premier Viorica Dancila said on Saturday in Calarasi that the activity assessment for eight ministers has been completed and that the government reshuffle will be decided on Monday, at the meeting of the Social Democratic Party's ( ruling party) National Executive Committee (NEC)."We worked on the assessment of the ministers' activity this week. It isn't finished yet. On Monday, in the National Executive Committee, we will talk about a reshuffle. We did the ...

Dan Barna, USR presidential candidate

Monday, July 15, 2019

The more than 500 delegates to the congress of the Save Romania Union (USR - opposition) validated on Saturday the formation's Chairman Dan Barna as candidate for the presidential election this autumn. The other contenders for the USR presidential nomination were Mihai Gotiu, Dragos Dinulescu and Dumitru Stanca.Dan Barna received 324 votes, Mihai Gotiu - 134, Dumitru Stanca - 5, and Dragos Dinulescu - 3."We have today taken yet another step towards the goal ...

Dacian Ciolos: the PLUS candidate for the presidential elections will be chosen between 22 and 27 July

Monday, July 15, 2019

Dacian Ciolos announced at the end of the PLUS National  Council that it was decided that the candidate for the presidential elections of the party would be chosen through electronic vote by all members between 22 and 27 July. Later, there will be negotiations with USR to decide who will be the candidate of the Alliance. He added that through electronic  vote all PLUS (opposition) members will choose the candidate of the party for the ...

The 2019 European elections: A pro-European – and young – electorate with clear expectations

Monday, July 15, 2019

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* European Parliament publishes first results of its post-electoral Eurobarometer survey. A significant increase in young people with a pro-European mind-set cast a vote in the 2019 European elections, according to an in-depth Eurobarometer survey across all 28 member states. Conducted in the weeks after the elections, nearly 28.000 citizens throughout the EU answered questions about their participation in the European elections and the issues ...

Ioan Mircea Pascu, appointed European Commissioner without portfolio

Monday, July 15, 2019

Ioan Mircea Pascu , proposed by the Dancila Government for the position of European Commissioner to replace Corina Cretu, has been appointed European Commissioner but will not receive a portfolio and will have a mandate until October ...

Michele Ramis: Romania, France's essential partner in the region

Monday, July 15, 2019

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Romania is an essential partner of France in the region, Ambassador Michele Ramis stressed on Friday at the reception organized on July 14 - the National Day of the French Republic. The diplomat held her speech both in French and in Romanian.Prime Minister Viorica Dancila also participates in the reception of the French National Day. "Madam Prime Minister, your presence confirms the exceptional character of the friendship relations between our countries and the ...

EDA to launch final consultations between Cyprus, Greece, Romania and Spain to upgrade or purchase Leopard 2 tanks

Monday, July 15, 2019

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The European Defence Agency (EDA) awaits a last round of market feedback from industry before launching final consultations with member states Cyprus, Greece, Romania, and Spain to launch a programme in 2020 to modernise or procure Leopard 2 main battle tank (MBT) fleets. The effort will aim at upgrading to Leopard 2A7 equivalents or acquiring them, according to the agency. "We're aiming for maximum commonality among them as they upgrade their MBTs," ...

Mazars Report: Romania remains stable on the overall tax burden for employment

Monday, July 15, 2019

Mazars Romania has launched the seventh edition of the Central and Eastern European Tax Guide. The report on the current taxation regimes of the CEE covers 22 countries, including the Visegrad countries, Southeast Europe, Russia, Ukraine and the Baltic states. Aimed to help investors compare the fundamental factors of competitiveness, the report points out that consumption-type taxes are still paramount, collection practices are becoming more stringent and that the total wage ...

ANALYSIS: Millennial mores prompt developers to focus on “business communities”

Monday, July 15, 2019

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The rise of the millennial generation has become a challenge for many businesses, but office developers across the globe, including in Romania, see business opportunities from the realization that adapting to the new lifestyles could be a win-win strategy. According to experts, millennials want employers to grant them autonomy and flexibility in their work schedule, and they like workspaces with places dedicated to socialization and interaction between ...

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