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Popa (BNR): I think there is still relaxation potential; I am considering minimum mandatory reserves in hard currency

Friday, August 7, 2020

BNR, the Central Bank still has relaxation potential, the minimum mandatory reserves in hard currency. As for the monetary policu interest rate I think we should analyze in detail whether an additional reduction is till opportune, said Cristian Popa, CFA, member of BNR Administration Board. According to him, interest rates for term deposits maintained around 2%.  Another aspect pointed out by the BNR official refers to the ...

Vasilescu (BNR): Lower key rate opens door to cheaper loans

Friday, August 7, 2020

The monetary policy interest rate is also called key rate because it opens certain doors to cheaper retail and corporate loans, or to lower yields on government securities, said strategy advisor with the National Bank of Romania (BNR) Adrian Vasilescu, commenting the central bank's decision to reduce the key interest rate."Ever since the beginning of the pandemic, the National Bank announced that it will hold open sessions. It has suspended the calendar of ...

Three-month interbank offered rate dips to 2.05 ppa on Thursday

Friday, August 7, 2020

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Romania's three-month interbank offered rate ROBOR, which is used for pricing floating rate consumer loans in RON, dropped on Thursday to 2.05 ppa from 2.15 ppa the day before, the National Bank of Romania informed.Early in 2019 the three-month ROBOR was 2.99 ppa, and at the beginning of this year it stood at 3.19 ppa. On August 6, 2019 the benchmark interest rate was 3.09 ppa.The 6-month index that is used for pricing floating rate mortgage loans ...

New Home programme to become operational on Aug. 15, as regulations near approval

Friday, August 7, 2020

The New Home programme will be operational on August 15, as its implementation regulations are expected to be approved next week at a government meeting, head of the National Fund for SME Loan Guarantee (FNGCIMM) Dumitru Nancu said on Wednesday."The regulations are close to being approved. We hope that next week the regulations will be approved at the government meeting, and on August 15 the programme will be operational. We are trying to encourage new ...

European Commission: Subsidy of 1 million euros for Timisoara Airport observes EU norms on state aid

Friday, August 7, 2020

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The European Commission announced on Thursday that a direct subsidy of 4.8 million lei (about 1 million euros) granted by Romania to Timisoara Airport observes EU norms about state aid, the amount being granted to compensate damages caused by coronavirus pandemic. Due to measures applied by Romania to limit the spread of coronavirus, as of March 16, 2020, air companies operating on Timisoara Airport should gradually reduce the number of regular ...

Romania has highest share in EU of laid off hospitality workers

Friday, August 7, 2020

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Romania is the EU country with the highest percentage of hospitality employees fired due to the pandemic, president of the Romanian Hotel Industry Federation (FIHR) Calin Ile told a press conference on Thursday.Ile presented the conclusions of a Cushman & Wakefield survey commissioned by FIHR on the responses of hotel owners in Romania to the crisis caused by the coronavirus, compared to the reactions of European entrepreneurs in the field."In the ...

Prince Charles encourages Romanians to spend holidays in Romania and discover  its “unbelievable riches” 

Friday, August 7, 2020

Prince Charles of Wales encourages the Romanians to spend their holidays in Romania and discover its “unbelievable riches” in a film recently made and presented at his Covasna residence Valea Zalanului on Tuesday, that this country is amazing and wonderful in diversity. The 5 minute film was made by the British journalist Charlie Ottley, the producer of the documentary series Wild Carpathia to support tourism in ...

Pelicula film festival to be held Sept. 9-16, online, outdoors

Friday, August 7, 2020

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Films from Argentina, Bolivia, Brazil, Chile, Peru, Spain and Uruguay will run in the 5th edition of the Pelicula Film Festival, which will take place September 9-16, online and outdoors.According to organisers, all the selected films can be watched online, with Romanian subtitles, September 9-16, while every evening September 9-13, the Elvire Popesco Cinema Hall will host the running in the open air of five of the most important Ibero-American films of recent ...

Pablo Larrain's 'EMA' to open Bucharest International Dance Film Festival

Friday, August 7, 2020

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The sixth edition of the Bucharest International Dance Film Festival (BIDFF), the only cinema event in Romania dedicated to dance films, will take place September 3-6, in Bucharest.According to a press statement released by organisers, the screenings will take place outdoors at the Elvira Popesco Cinema Hall and the Romanian Peasant Museum, while special events will be hosted, with limited seating, by LINOTIP - Independent Choreographic Centre and CNDB, the Stere ...

Bucharest International Film Festival  of August 27 under Prince Radu's high patronage

Friday, August 7, 2020

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The 16th edition of Bucharest International Film Festival will be held over August 27- September 3, at the Romanian Peasant Museum and in the yard of the Comic Opera for Children, under Prince Radu's high patronage, a press release informs on the website www.romaniaregala.ro. The competition will ...

Heatwave to grip southern, eastern Romania throughout Saturday

Friday, August 7, 2020

The National Weather Administration (ANM) has issued Thursday a heatwave warning valid today, Friday and Saturday in southern and eastern Romania.Thus, August 6 -8, in the southern and eastern regions the weather will be hot and highs go up to 34-37 degrees Celsius, while wind will reach gust speeds generally of 40-50 km/h.Meteorologists warn that especially on Friday and Saturday the temperature-humidity index (THI) will exceed the critical threshold ...

President Iohannis: New school year to begin on September 14, with generally in-person classes

Thursday, August 6, 2020

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 President Klaus Iohannis announced on Wednesday that the new pre-university school year will start on September 14, with most students attending in-person classes, and that three scenarios have been devised on how courses will be organised."The new pre-university school year begins on September 14. For most students, this means that they will attend classes in person. Depending on the number of sick persons in each locality, three scenarios have been ...

COVID-19 case count rises by 1,309 to 56,550

Thursday, August 6, 2020

As many as 1,309 new cases of people infected with SARS-CoV-2 have been recorded in Romania since the previous report, following tests performed nationwide, the Strategic Communication Group (GCS), the official novel coronavirus communication task force, reported on Wednesday. The new cases regard people that have not previously tested positive.As of Tuesday, 56,550 cases of people infected with the novel coronavirus had been confirmed in Romania. GCS shows that ...

Novel Research study: almost half of Romanians believe that the effects of the COVID-19 pandemic will be felt major on their lives

Thursday, August 6, 2020

One Romanian in six agrees to welcome the same restrictions if a similar situation occurs or a second COVID-19 wave occurs, according to a Novel Research study commissioned by Provident Financial Romania.Over 46% of respondents believe that remote working will be the main way of doing business next year as well, while a third (33%) say they intend to keep their children at home and not send to school or kindergarten. At the same time, almost 21% of the respondents ...

President Iohannis: Health Ministry to set in place rules for safe ballot casting

Thursday, August 6, 2020

 President Klaus Iohannis said on Wednesday that the Health Ministry will set in place rules for ballots to be safely cast in the September 27 local elections. The head of the state was asked during a press conference if it's safe for adults to go to the polls on September 27, whilst it is not certain that the students will all start in-person schooling."We must not make a confusion between school activity and the voting activity. School activity is a complex ...

Prerequisites for entering Cyprus change as COVID-19 pandemic goes on

Thursday, August 6, 2020

Romania's Foreign Ministry (MAE) said on Wednesday that Cyprus has revised the requirements for entering the country as the COVID-19 pandemic goes on. According to the MAE, Romania remains a category C country, along with Bulgaria, Luxembourg, Montenegro, Portugal, Serbia and Sweden.Also, from August 4, the special permit required for access to Cyprus can be obtained through the www.cyprusflightpass.gov.cy portal. Documents certifying the need to travel will be ...

Swiss authorities put Romania on list of countries with high SARS-CoV-2 infection risk

Thursday, August 6, 2020

The Ministry of Foreign Affairs informs that the Swiss federal authorities announced new entry rules, applicable as of August 8 at 0:00 hrs, and which also apply for entering the Principality of Liechtenstein; a 10-day quarantine period has been introduced for travelers form Romania, with certain exceptions.Romania has been included on the list of the countries with high risk of SARS-CoV-2 infection, and all the persons entering Switzerland who have been in ...

PSD's Ciolacu: PNL is trying to get hold of mayors; we will file a complaint

Thursday, August 6, 2020

 The interim president of PSD (Social Democratic Party), Marcel Ciolacu, on Wednesday stated that the Social Democrats will file a criminal complaint with the DNA (National Anticorruption Directorate) against all PNL (National Liberal Party) representatives from the Government and from the territory who "turned the state institutions into the heaven of crime." "There is no money for masks, there is no money for child allowances, there is no money for pensions. But there ...

Gov't, not to challenge ECHR decision in Kovesi case; decision aimed at strengthening independence of prosecutors

Thursday, August 6, 2020

The Romanian Government, through the Ministry of Foreign Affairs (MAE), has decided not to request the referral to the Grand Chamber of the European Court of Human Rights (ECHR) of the ECHR decision in the Kovesi v. Romania case, and this decision of the executive takes into account "the special importance of the decision of 5 May 2020 for the consolidation of the prosecutors' independence and, therefore, of the justice system in Romania".The decision, made ...

By notifying CCR, Gov't doesn't seek to block sentence increase for child sexual offenders

Thursday, August 6, 2020

The notification sent by the Government to the Constitutional Court (CCR) does not seek to block the increase of penalties for child sexual offenders, but to eliminate any constitutional "vulnerabilities" from the provisions of the normative act, Prime Minister Ludovic Orban explained in a reply to the open letter addressed to him by several NGOs regarding the Executive's challenge with the CCR of the draft law amending some articles of the Criminal Code and the Criminal ...

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