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February, 2015
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February 27, 2015



      February 27, 2015


FIC (0)
No news for today
Macroeconomic News (3)
SAR wants simplified tax system
European semestral report on Romania
"Our financial system does not allow the continued growth of public debt"
Financial News (2)
Debtors in row with BNR
BCR sold 220 kg of gold last year
Investment News (4)
Transelectrica has investments projects worth RON 3 billion
Radacini to invest in used cars trading platform
Magurele Science Park to cost EUR 1 billion
InterParking completes underground parking
Legislative News (2)
Hospitals to provide private medical services
CCR strikes down rule
Politics (1)
Merkel refuses to commit on Schengen accession
Social (1)
Medical tourism

   Macroeconomic News (3)

SAR wants simplified tax system
The Romanian Academic Society (SAR) released yesterday an analysis and forecast report for 2015 featuring 12 recommendations for improving Romania's government. The recommendations focus on taxation, decentralization, public acquisitions, anti-corruption, health, agriculture and European funds.

(Source: bursa.ro; Date: 2015-02-27; Author: Unspecified)

European semestral report on Romania
The main macroeconomic imbalances were reduced significantly and the financial sector remained stable - these are the conclusions of the European Commission semestral report on Romania's economy. However, the EC warned about the factors that can still threaten the economy: unpredictability, lack of fiscal strategy and inefficient administration.

(Source: cursdeguvernare.ro; Date: 2015-02-27; Author: Unspecified)

"Our financial system does not allow the continued growth of public debt"
Any increase of Romania's public debt is limited by the low absorption capacity of the national financial system, according to Ionut Dumitru, President of the Fiscal Council. While the public debt is still relatively low compared to the European average, 40% of GDP, it's very high for Romania's development level.

(Source: bursa.ro; Date: 2015-02-27; Author: Unspecified)

   Financial News (2)

Debtors in row with BNR
It's been a month and a half since the Swiss National Bank's decision to remove the currency peg has sent the Swiss franc soaring. Since then, the holders of CHF-denominated loans have been paying significantly higher installments. Although the Parliament seemed eager to pass some emergency relief, its ardor seem to have cooled and MPs are now silent on this issue.

(Source: bursa.ro; Date: 2015-02-27; Author: Unspecified)

BCR sold 220 kg of gold last year
BCR sold approximately 220 kg of gold in 2014. Some 30 kilos were sold directly through the bank's offices, while the rest went to mass affluent and private banking clients. Since the launching of this program in 2010, more than 2,000 clients bought 2.5 tons of gold. Last year, the price of gold went up 9%, reaching a reference rate of RON 142 per gram.

(Source: zf.ro; Date: 2015-02-27; Author: Unspecified)

   Investment News (4)

Transelectrica has investments projects worth RON 3 billion
Transelectrica has plans for investment projects worth RON 3 billion, but expects to spend only RON 554 million on them between 2015 and 2017. Many of the projects are blocked due to the lack of permits or access to the future locations. These hurdles are a heavy burden for the electricity transport company, whose revenues are driven by investments.

(Source: zf.ro; Date: 2015-02-27; Author: Unspecified)

Radacini to invest in used cars trading platform
Automotive group Radacini will invest more than EUR 2 million in a used cars trading platform. Radacini is a dealer of Opel, Citroën, Peugeot, Mazda, Suzuki, Volkswagen and Honda cars.

(Source: zf.ro; Date: 2015-02-27; Author: Unspecified)

Magurele Science Park to cost EUR 1 billion
The Ilfov County Council unveiled yesterday a project for developing a scientific and technological park in Magurele. The project would be implemented as a partnership between the local authorities, central authorities and various research institutes. The Magurele Science Park would cost an estimated EUR 1 billion.

(Source: bursa.ro; Date: 2015-02-27; Author: Unspecified)

InterParking completes underground parking
InterParking has completed the EUR 3 million underground parking of the National Theater, nearly three years after the opening of the Universitate parking. The company had taken over the 960-lot parking in 2013 and started the modernization work last January.

(Source: zf.ro; Date: 2015-02-27; Author: Unspecified)

   Legislative News (2)

Hospitals to provide private medical services
State-owned hospitals could provide private medical services outside the working hours, according to a bill signed by 102 MPs. Such services would be provided at the patient's request and only if it doesn't get in the way of the hospital's basic services.

(Source: adevarul.ro; Date: 2015-02-27; Author: Unspecified)

CCR strikes down rule
The Constitutional Court ruled on Thursday that the article setting a minimum number of founding members required to sign the registration applications of political parties is unconstitutional. The article stipulates that the list of party supporters must feature at least 25,000 individuals from at least 18 counties.

(Source: cursdeguvernare.ro; Date: 2015-02-27; Author: Unspecified)

   Politics (1)

Merkel refuses to commit on Schengen accession
President Klaus Iohannis met on Thursday in Berlin with Chancellor Angela Merkel to discuss Romania's accession to Schengen. The joint press conference organized after the meeting indicated a close relationship between the two leaders, but did not bring any firm commitment to Romania's accession from the Chancellor.

(Source: adevarul.ro; Date: 2015-02-27; Author: Unspecified)

   Social (1)

Medical tourism
Romanians go abroad in search of treatment for serious conditions, such as congenital malformations or cancer, while foreigners come to Romania for dentistry work, plastic surgery, spa and wellness services. "As long as we keep charging 40% of their prices, the tourists will continue to come," said Răzvan Andrei Nacea, CEO of Seytour.

(Source: adevarul.ro; Date: 2015-02-27; Author: Unspecified)

   
   
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