Loading page...

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

Subscribe|Login

Financial & Banking

Banca Transilvania becomes associate member of ARIR

Monday, January 27, 2020

Banca Transilvania, the largest lender of the Romanian economy, has become Associate Member of the Romanian Investor Relations Association ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 8 January 2020

Monday, January 20, 2020

15 January 2020 The National Bank of Romania Board members present at the meeting: Mugur Is?rescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the National Bank of Romania; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicol?escu, Board member and Deputy Governor of the National Bank of ...

BNR: Balance of payments and external debt – November 2019

Monday, January 20, 2020

In January - November 2019p, the balance-of-payments current account posted a deficit of EUR 9,924 million, compared with EUR 8,205 million in the same year-ago period, Central Bank data said. The deficit on trade in goods widened by EUR 2,473 million, the surplus on services income increased by EUR 135 million, the deficit of the primary income balance narrowed by EUR 485 million, and the surplus of the secondary income balance rose by EUR 134 ...

PM Orban: ANAF not being computerized, reason for lowest tax collection rate in EU

Monday, January 20, 2020

200120110704ODAmaD00NDAmaGFzaD00NDY0ZDAwM2M4NzEwMGQwM2MxMTY5NDM3ODE2YjRmNg__.thumb.jpg

Prime Minister Ludovic Orban said on last Thursday night for the B1 TV private broadcaster that Romania has the lowest tax and duties collection rate in the European Union, one of the reasons being that the computerization of the National Tax Administration Agency (ANAF) was not carried out, although all the companies were required to change their cash registers."I give the example once again, for all Romanians to know: the Ministry of Finance obliged companies to ...

Ciprian Dascalu, the new head economist of the Romanian Commercial Bank

Monday, January 20, 2020

Ciprian Dascalu will be the new head economist and research manager at the BCR starting with 15 January, announced the bank on Monday. He follows after Horia Braun-Erdei who starting with 1st November 2019 has been elected CEO of Erste Asset Management Romania. Aged 40, Ciprian Dascalu has been working in the banking system since 2003, with consistent experience in macro and micro-economy, financial markets and economic models, as well as în ...

Association for private pensions: Pillar 2 had best profit in 2019

Monday, January 20, 2020

200120110757media_147216261126657900.jpg

The seven compulsory private pension funds (Pillar 2) had an 2019 an average profit of 11.8%, the best performance in the last 9 years, on the background of recovering depreciation caused by effects of Government order 114/2018 in economy and in financial markets, as well as unexpected evolution of Bucharest Commodity Exchange,  the Association for Privately Administered Pensions in Romania (APAPR) announced on Thursday. “The overall profit ...

Private pension funds in Romania reach EUR 13 bln in assets

Monday, January 20, 2020

The net assets (NAV) of the voluntary private pension funds rose by 21.3% year-on-year to RON 2.47 billion (nearly EUR 0.5 bln), at the end of November, according to the Financial Supervisory Authority (ASF) data quoted ...

În 2020, Romania has to borrow some RON 86.9 billion (EUR 18.1 bln) to finance its 3.6% of GDP budget deficit

Monday, January 20, 2020

Romania has to borrow some RON 86.9 billion (EUR 18.1 bln) this year to finance its 3.6% of GDP budget deficit and refinance the debt due during the period, the Finance Ministry ...

Daniel Daianu: Budget consolidation is urgent; it must start in 2020

Monday, January 20, 2020

Budget consolidation is urgent, and this should start in 2020 by bringing the budget deficit as close to 3 percent of GDP as possible, according to Daniel Daianu, advisor to the BNR Governor and chairman of the Fiscal Council, in an article published on the BNR Opinion blog. “The Romanian economy depends on what is happening in the European economic area, on the ECB’s monetary policy; the monetary policy rates from us, the internal monetary ...

Banca Transilvania expects Romanian households to keep high savings rate

Monday, January 20, 2020

The savings rate will be at a high level among Romanian households in the following quarters, against the background of the fiscal-budgetary consolidation expected on the short term and the development of the capital market in the medium term, according to Andrei Radulescu, chief economist of Banca Transilvania - the country’s biggest lender. The savings rate among the Romanian households increased in the first nine months of 2019 by a percentage ...

NBR Board decisions on monetary policy

Monday, January 13, 2020

In its meeting of 8 January 2020, the Board of the National Bank of Romania decided the following: to keep the monetary policy rate at 2.50 percent per annum; to leave unchanged the deposit facility rate at 1.50 percent per annum and the lending facility rate at 3.50 percent per annum; to maintain the existing levels of minimum reserve ...

Mandatory private pension plans report Nov. 2019 assets of 60.09 billion lei, up 26.48pct y-o-y

Monday, January 13, 2020

Mandatory private pension plans had assets worth over 60.09 billion lei, as of November 30, 2019, up 26.48pct y-o-y, according to data with the Financial Supervisory Authority (ASF).Government securities hold the highest share in the assets, at 37.1 billion lei, or 60.91pct. Coming in second were stocks, at 13.4 billion lei (22.5pct). Corporate bonds were in third place, at 4.236 billion lei, or 6.95pct of the total assets.According to the same data, ...

UniCredit – Market Leader and best Trade Finance provider in Romania according to Euromoney’s Trade Finance Survey 2020

Monday, January 13, 2020

UniCredit was named the best global Trade Finance provider in Euromoney’s Trade Finance Survey 2020. The bank also landed the number 1 position in this category in several individual countries, including Romania, according to the survey, in which UniCredit also received awards in categories such as Advisory, Financing, Overall Execution ?i Products, as well as for its services in Western Europe and Central and Eastern Europe. The extent of ...

FinMin promises higher contributions to Pillar II , the private pension funds

Monday, January 13, 2020

200113101232pension_fund.jpg

The contributions to the mandatory private pension funds (Pillar II) in Romania will rise to 5% of the gross wage as of 2021, from 3.75% currently, to later increase to 6% as the law provides, finance minister Florin Citu stated in a TV interview on January 7, according ...

Fondul Proprietatea to launch new buyback offer for 200 mln shares

Monday, January 13, 2020

Fondul Proprietatea, the biggest investment fund in Romania, whose shares are trading on the Bucharest Stock Exchange and GDRs on the London Stock Exchange, will launch a new buyback offer for a total of 200 million own shares (including GDRs). The fund’s manager, Franklin Templeton Investment Management has hired Romanian brokerage firm Swiss Capital and international broker Auerbach Grayson to manage the offer. The terms of the offer, including ...

Gov't invited IMF to audit Fiscal Code

Monday, January 13, 2020

The International Monetary Fund (IMF) will conduct an audit of Romania’s Fiscal Code at the invitation of the Government, finance minister Florin Citu confirmed in an interview on January 7. “We have invited the Fund to establish whether the Fiscal Code is stimulating or dragging down the economy,” minister Citu said adding that he wants the opinion of independent experts such as those of the international financial ...

Euler Hermes 's study on economic slowdown

Monday, January 13, 2020

Early indicators point to a slowdown of the Romanian economy in the next quarters, according to Euler Hermes, the global leader in commercial credit insurance and a recognized specialist in collateral and debt collection, which carried a study about Romania’s country risk. The consultancy firm outlines that the country's output in the important automotive sector has been shrinking since June 2019. It also expects the new ...

BNR: International reserves – December 2019

Monday, January 6, 2020

On 31 December 2019, the National Bank of Romania’s (BNR)foreign exchange reserves stood at EUR 32,926 million, compared to EUR 33,817 million on 30 November 2019. During the month, the following flows were recorded: EUR 2,197 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s accounts, inflows into the European Commission’s ...

November's overdue loan payments down 2.6pct in domestic lei, 6.5pct lower in foreign currency

Monday, January 6, 2020

The total value of overdue loans - both corporate and individual - totaled 4.7 billion lei in November 2019, 2.6 percent down from the figure reported in October 2019, while past due loans in foreign currency decreased by 6.5 percent to the equivalent of 2.17 billion lei, according to the data of the National Bank of Romania (BNR). Loans in lei amounted to 180.771 billion lei in November (0.66 percent over the value of the previous month), of which 68.622 billion lei were ...

 Deposits of non-governmental resident clients up 1.8 pct in November

Monday, January 6, 2020

200106125857download.jpeg

Deposits of non-governmental resident clients increased by 1.8 per cent in November 2019 compared with October 2019, up to 356.611 billion lei and by 9.9 per cent (5.9 per cent in real terms) compared with November 2018, the National Bank of Romania (BNR) informed in a press release .Deposits in lei of households increased by 1.4 per cent compared with October 2019, up to 127.877 billion lei, and by 7.8 per cent in real terms compared with November 2018.Deposits in ...

Premium News

Daily

Friday, April 10, 2020

Financial & Banking

Monday, April 6, 2020

Economic

Tuesday, April 7, 2020

Companies

Wednesday, April 8, 2020

Energy & Environment

Thursday, April 9, 2020