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Financial & Banking
Stock Exchange via BVB Arena can be a stage that helps promote local companies
Monday, September 30, 2024
Made in Romania or BVB Arena currently, shows that the Bucharest Stock Exchange can be a stage that helps promote local companies, on Thursday evening said Radu Hanga, the president of the Board of Directors of the Bucharest Stock Exchange at the BVB Arena Gala 2024."It's the first time we're making the transition from Made in Romania, as the programme was called until last year, to the new logo, BVB Arena. It's a journey we're taking to identify and promote ...
Banca Transilvania draws 700 million euros from international markets
Monday, September 30, 2024
Banca Transilvania (BT) sold bonds of 700 million euros on Wednesday, through a new issue in which the demand from investors was over 2.5 billion euros, informs a press release from the bank.It is the second time in a row that BT launches a bond issue under the umbrella of the Sustainable Financing Framework.According to the quoted source, the orders placed came from almost 170 institutional investors, mainly international ones, i.e. ...
ROCA Analysis: Private Equity investments represent only 0.041% of Romania’s GDP
Monday, September 30, 2024
The Private Equity (PE) market in Romania is underdeveloped compared to the situation in the region, as well as at the European and global levels, with the ratio of Private Equity investment value to local GDP being only 0.041%, ten times smaller than the similar ratio at the European level, according to an analysis conducted by ROCA, the most dynamic private equity company in Romania. At the same time, however, the potential for developing the PE ...
BNR to add 7 new currencies to Leu exchange rate list
Monday, September 23, 2024
Starting 23 September 2024, the National Bank of Romania (BNR) will add to the list of exchange rates the indicative quotations of the Romanian leu against the Hong Kong dollar (HKD), the Israeli shekel (ILS), the Indonesian rupee (IDR), the Philippine peso (PHP), the Icelandic krona (ISK), the Malaysian ringgit (MYR) and the Singapore dollar (SGD). The exchange rates will be added to the current list ...
Salt Bank attracts 230,000 customers in first months of operation
Monday, September 23, 2024
Salt Bank SA, Romania’s first neobank, attracted 230,000 customers within its first few months of operations, the bank announced following the approval of its interim financial statements by the board of directors, https://www.msn.com/ informs. Salt Bank, which officially launched on April 4, 2024, reported 100,000 customers created accounts in the initial days ...
Study: Financial challenges drive Romanians to seek sustainable solutions with direct economic benefits
Monday, September 23, 2024
Reveal Marketing Research, in collaboration with Alpha Bank, Aqua Carpatica, Kaufland Romania, PPC Romania, RetuRO, and Unilever, conducted the third annual edition of the national ...
NN Group and Rubio Impact Ventures launch the NN Social Innovation Startup
Monday, September 23, 2024
Awards competition in 11 countries, including Romania. The winning start-up will receive a €100,000 grant and the finalists a €50,000 grant each NN Group, the international financial services company operating in the local life insurance and private pensions markets, and impact venture fund Rubio Impact Ventures launch the ...
PragmaGO enters Romanian market by acquiring 89% of Romanian factoring and microfinance Telecredit
Monday, September 23, 2024
PragmaGO, a leading non-bank provider of SME finance in CEE, known for its innovative technological solutions developed by internal software house (PragmaGO.tech) has started its international expansion from the Romanian market through the acquisition of an 89% shareholding in TELECREDIT IFN SA (operating under the brand name Omnicredit) from investment company Reconstruction Capital II Limited (RC2) and Elisa Rusu, Telecredit’s CEO, for an initial consideration ...
National Office for the Prevention and Control of Money Laundering : Draft of an Emergency Ordinance amending and supplementing Law no. 129/2019...
Monday, September 23, 2024
Romania's National Office for the Prevention and Control of Money Laundering has recently published a draft of an Emergency Ordinance amending and supplementing Law no. 129/2019 on the prevention and control of money laundering and terrorist financing (the Emergency Ordinance) in order to harmonise domestic legislation with the provisions of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the ...
ING launches Business Deals
Monday, September 23, 2024
ING launches Business Deals, a platform where entrepreneurs have access to B2B offers negotiated by bank representatives for the needs of their business. Customers benefit from discounts across a wide range of products and services, from billing, to telephone and internet, to order management applications and cybersecurity solutions. Entrepreneurs have automatic access to offers, directly from ING Business, the ...
Finance Ministry asking for extension of tax incentives for R&D investment
Monday, September 23, 2024
The Ministry of Finance (MF) has put forth a measure to support the business community that would encourage innovation and technological progress by expanding the number of taxpayers who qualify for tax incentives for research and development investments.It suggests to regulate the decrease from the minimum turnover tax of the value obtained by applying the 16% rate on the amount representing the additional deduction of 50% of eligible expenses for ...
BNR: Balance of payments and external debt – July 2024
Monday, September 16, 2024
In January – July 2024p, the balance-of-payments current account posted a deficit of EUR 15,178 million, compared with EUR 11,328 million in January – July 2023, Romanian Central Bank (BNR) data show. The breakdown shows that the deficit on trade in goods widened by EUR 2,531 million, the surplus on services fell by EUR 1,303 million, the primary income deficit increased by EUR 538 million, while the secondary income surplus grew by EUR 522 ...
Customer loyalty protects traditional banks from fintechs gaining ground, finds Kearney
Monday, September 16, 2024
Nearly three-quarters (73%) of European bank customers have kept their primary account with the same financial institution for over five years One in ten people now have a primary account with a digital bank or fintech Leading consultancy ...
Erste Sees Further Risks for Romania’s Underperforming Bonds
Monday, September 16, 2024
(Bloomberg) -- Romania’s debt market shows signs of growing investor concern about the worsening fiscal stance, underscoring the urgency to fix the country’s finances as it prepares to hold twin elections, https://www.bnnbloomberg.ca/ reports. The 10-year domestic government bonds are the worst performers in Europe this year, with the yield up ...
Net budget revenues exceed 300 bn RON at end-August
Monday, September 16, 2024
Net budget revenues exceeded 300 billion RON at the end of August this year, an amount that represents an increase of almost 50 billion compared to last year, announced the Minister of Finance, Marcel Bolos."The digitization of tax authority ANAF is bringing results: at the end of August we exceeded the threshold of 300 billion RON in net budget revenues. We are talking about an increase of almost 50 billion RON compared to last year, ...
Good payers call tax amnesty discriminatory, want to challenge it
Monday, September 16, 2024
Tax amnesty has made taxpayers, companies and individuals alike, to react to the announced measures, and eight out of ten companies that request legal advice on the amnesty intend to pay their tax debts, according to a specialist survey released on Thursday.After the public announcement of tax amnesty, the number of requests for legal advice on taxation tripled from a normal period.At the same time, some of the good payer companies want to know ...
UniCredit Bank forges partnership with Romanian Fintech Association
Monday, September 16, 2024
UniCredit Bank has entered into a partnership with the Romanian Fintech Association (RoFintech), an organisation made up of companies founded by Romanian entrepreneurs that develop innovative technological solutions in the financial field in order to support its Romanian fintech members."The partnership with the Romanian Fintech Association follows two main directions. On the one hand, UniCredit Bank supports the Romanian fintech members of this organisation ...
Enhanced Security for Alpha Bank Romania Customers: New Anti-Fraud System Developed with Montran
Monday, September 16, 2024
Alpha Bank Romania, in partnership with Montran, the leading provider of interbank payment systems in the country, has launched an advanced Anti-Fraud System, https://www.prnewswire.com/ informs. This strategic collaboration has significantly strengthened the bank's security measures, ...
Number of Bucharest Stock Exchange investors doubles in three years
Monday, September 16, 2024
The number of investors on the Bucharest Stock Exchange (BVB) has doubled in the last three years, from about 100,000 to over 200,000, and the number of investors in open-ended investment funds has increased to 700,000, Horia Gusta, chairman of the Association of Fund Managers (AAF), told a debate on last Tuesday."About three years ago, the number of investors on the Bucharest Stock Exchange was about 100,000 and the number of investors in open-ended funds ...
Kapital Minds: Entrepreneurs do not consider listing on stock exchange because they consider it too expensive
Monday, September 16, 2024
Entrepreneurs do not consider the option of listing on the stock exchange because they think it is either too expensive or too lengthy, the director and founder of Kapital Minds, Laurentiu Stan told a Wednesday's specialist event."There is a potential for growth and, at the same time, we should think about how to make entrepreneurs aware of the importance of listing on the stock exchange, because from the interactions we have had with entrepreneurs so far, ...