Loading page...

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

Subscribe|Login

Financial & Banking

Isarescu: ”10 bani less in the fuel price is enough to help us with inflation’

Monday, December 10, 2018

181210105724inflatie2.jpg

Mugur Isarescu, the governor of the National Bank of Romania (BNR) estimated on Monday that inflation in Romania will drop at the end of the year and an important role has the price of oil as Romania is more sensitive to foreign markets.‘The shocks from abroad are visible faster in inflation in our country than the surplus (the growth of local economy). It was obvious through the crises on the oil market. I was shocked, maybe you too, and I say it is ...

Raiffeisen Bank reaches 500,000 credit card threshold

Monday, December 10, 2018

Raiffeisen Bank has exceeded the threshold of 500,000 shopping cards, the largest credit card portfolio of a bank in Romania, http://business-review.eu reports. In addition, since November, the bank has been offering individuals the ability to obtain their cards immediately. In short, the customer receives the card on the spot, requests and receives the card’s temporary PIN code via SMS and can start using ...

eMAG-Raiffeisen Bank shopping card portfolio is quickly moving towards 25,000 cards

Monday, December 10, 2018

The continuous improvement of the functionalities and services offered, the extension of the partnerships with traders, coupled with a favorable macroeconomic situation, have led to a 10 percent increase in the number of newly-issued credit cards in the last year. In the first nine months of 2018, volumes traded in retail increased by almost 20 percent over the same period last year. Raiffeisen Bank’s market share is on the rise, reaching 17 percent of all valid and in ...

Daianu : Productivity - key to resistance in Eurozone, basis of competitiveness

Monday, December 10, 2018

Productivity is the key to resistance in the Eurozone, the basis of competitiveness, but it must not be achieved through low wages because otherwise we are bound to remain a peripheral economy, Daniel Daianu, member of the National Bank of Romania (BNR) Board of Administration stated on Wednesday at the debate titled "The Romanian economic model in the EU. Romania - 2040 Horizon."According to him the currency risk disappears in the Eurozone but not the solvency ...

Romania’s unexpected GDP growth rate in Q3 boosted by good crops

Monday, December 10, 2018

Romania’s Gross Domestic Product (GDP), the index widely used to measure the size of national economies, rose by 4.3 percent in the third quarter of this year compared with the same period of 2017, to RON 263.7 billion (EUR 56.7 billion), mainly due to good crops, according to National Institute of Statistics (INS) data released on Friday quoted by http://business-review.eu. The report ...

International reserves – November 2018

Monday, December 10, 2018

On 30 November 2018, the National Bank of Romania’s foreign exchange reserves stood at EUR 32,531 million, compared to EUR 32,369 million on 31 October 2018. During the month, the following flows were recorded: EUR 931 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s accounts, and ...

OTP Bank Romania, Eurobank Fund Management Luxembourg sign an agreement for the distribution of investment funds in Romania

Monday, December 10, 2018

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP Bank Romania becomes the distributor and paying agent in Romania for mutual investment funds managed by Eurobank Fund Management. “The partnership with Eurobank Fund Management Company is an opportunity to grow OTP Bank Romania’s portfolio, both in terms of investment ...

Government hit by the “invisible hand” of the market as its borrowing costs jump more than social spending

Monday, December 10, 2018

Romanian government borrowing costs rose by 25.5 percent during the first ten months of this year up to RON 11.2 billion (EUR 2.4 billion) as it pays higher interest rates in order to cover its soaring spending on wages and pensions, according to official data consulted by Business Review. in January-October 2017, interest expenses of the government amounted RON 8.9 billion. Interest expenses growth rate outpaced during the ...

Isarescu: Over 13 bln euro worth of EIB financing extended to Romania since early 1990s

Monday, December 10, 2018

The European Investment Bank (EIB) has provided Romania with over 13 billion euro worth of financing for almost 130 projects since the start of their cooperation in the early 1990s, being an important pillar for the country's economic strategic development, governor of the National Bank of Romania (BNR) Mugur Isarescu told the conference on Investment and Investment Finance in Romania organized on the 60th anniversary of the EIB.2018 was a year rich in lessons for ...

Alpha Bank to launch EUR 1 bln mortgage bonds in Romania

Monday, December 10, 2018

The Greek financial group Alpha Bank prepares the launch of the first mortgage bonds program in Romania, according to the bank. In 2001, Alpha Bank Romania launched its first real estate loan, opening the market of financing for the purchase of housing through bank credit. The general meeting of shareholders of Alpha Bank Romania approved the ...

EIB: Romania has plenty of sources of financing; the lack of projects is the issue

Monday, December 10, 2018

181210105825W725300FIA.GIF

Andrew McDowell, the vice president of the European Investment Bank (EIB), said that obtaining financing for projects is not an issue for Romania, as there are plenty of sources, but that the issue is the insufficient effort put into projects, which thus can’t attract more European money, both when it comes to public as well as private investments. In this regard, Romania ranks among the last places in the European Union, according to the ...

ECOFIN warns Romania to limit increase in net primary govt. spending

Monday, December 10, 2018

The EU Council of Economic and Financial Affairs (ECOFIN) on December 6 officially warned the Romanian Government not to allow the net primary government expenditures (the primary general government budget) to rise more than 4.5% compared to 2018, romania-insider.com informs. The structural fiscal balance would thus decrease by 1pp (from 3.3% of GDP estimated for this year), according to ...

Ebury: More than 85 percent of Romanian companies never hedged against FX risk

Monday, December 10, 2018

More than 85 percent of Romanian companies never hedged against foreign exchange (FX) risk and few companies manage FX risk in a structured way, Johan Gabriëls, country manager for Romania and Bulgaria at Ebury said on Wednesday quoted by http://business-review.eu. “More than 85 percent of Romanian companies never hedged against FX risk and few companies manage FX risk in a structured way. Romanian exporters are aware of FX and agree FX ...

Isarescu: Committee for Preparing Changeover to Euro, to release two reports

Monday, December 3, 2018

The Committee for Preparing the Changeover to the Euro will release two reports in December, the documents are highly technical though and are 300-page long and we have strived to translate the document from Romanian into Romanian, so as to say things in an acceptable language, National Bank of Romania (BNR) Governor Mugur Isarescu stated on Wednesday. "In December, The Committee for Preparing the Changeover to the Euro will publish the two documents, a ...

Romania’s public deficit rose 3.2 times in January-October to EUR 4.5 bln

Monday, December 3, 2018

181203103417ra__unovodstvo.jpg

Romania’s general consolidated budget, which includes fiscal and social budgets of the government, registered after the first ten months of this year a deficit of RON 21 billion (EUR 4.5 billion), or 2.2 percent of estimated GDP, being 3.2 times bigger compared with the same period of 2017, according to the Finance minister Eugen Teodorovici, http://business-review.eu reads. The minister claims that the ...

Non-governmental loan balance up 0.8pct in October; loans in lei up 0.9pct

Monday, December 3, 2018

The balance of non-governmental loan granted by credit institutions increased by 0.8 per cent in October 2018 (0.3 per cent in real terms) compared with September, up to 249.622 billion lei, according to a press release of the National Bank of Romania (BNR) ."The loan in lei increased by 0.9 per cent (0.4 per cent in real terms) and the loan in foreign currency increased by 0.6 per cent (expressed in euro, the loan in foreign currency increased by 0.5 per cent). ...

BNR: Deposits of non-government resident customers advance 0.9 percent on a monthly basis in October 2018

Monday, December 3, 2018

 Deposits of non-government resident customers went up 0.9 percent month on month to 317,399.9 million lei in October 2018. At end-October 2018, deposits of non-government resident customers grew by 9.2 percent (4.7 percent in real terms) over the same year-ago period, according to data posted on Monday by the National Bank of Romania (BNR).RON-denominated household deposits moved up 1.3 percent to 116,277.6 million lei. At end-October 2018, household ...

Overdue lei-denominated loans, up 0.9pct, forex-denominated 1.53pct in October 2018

Monday, December 3, 2018

Overdue loans denominated in lei (RON) of households and companies were standing at 5,017 billion lei in late October 2018, up 0.9pct on a monthly basis, while overdue forex loans increased by 1.53pct, to the equivalent of 3.175 billion lei, according to a report by the National Bank of Romania (BNR) released on Tuesday.Total RON loans reached RON 163.76 billion in October (0.92pct more than in the previous month), of which 65.846 billion lei were taken out by ...

BNR official: Commercial banks cannot loan more money to the state

Monday, December 3, 2018

Romania has no more room to increase the debt by accumulating budget deficits, given that the maximum level that the local economy can sustain is 40-45% of GDP at the most. The local banking system, the largest financier of the public debt, is already overexposed on state bonds, Eugen Radulescu, director of the Directorate for Financial Stability with the National Bank of Romania (BNR) said on Monday. “The maximum level of debt that the Romanian ...

Romania challenges EC fine for not implementing anti-money laundering directive

Monday, December 3, 2018

181203103532AML.jpg

Romania is trying to convince the European Court of Justice (CJEU) to reject the fine that the European Commission wants to impose on Romania for not implementing the European directive against money laundering, romania-insider.com informs. The European Commission referred Romania to the European Court of Justice in August this year, ...

Premium News

Daily

Friday, December 14, 2018

Financial & Banking

Monday, December 10, 2018

Economic

Tuesday, December 11, 2018

Companies

Wednesday, December 12, 2018

Energy & Environment

Thursday, December 13, 2018