The speakers attending FIC's conference stressed the need to promote investment in the energy industry, while also warning about the legislative and regulatory challenges facing the industry in its efforts to attract additional investment.
Mugur Isarescu, governor of the National Bank of Romania (BNR), sold investors on Tuesday the image of a country in tune with the current situation and with a solid economic growth outlook: 4% in 2015. Isarescu has thus become the highest state official to mention a growth figure that was hard to even imagine some months ago.
The Greek crisis has pushed the European Union into unknown territory, with Greece being closer than ever to Eurozone expulsion. The arrival and consequences of the already famous Grexit can no longer be ignored. Greek banks account for 13% of the Romanian banking market.
The IT&C industry gained ground every year between 2013 and 2015, along with commerce, while agriculture accounts for less and less of the GDP. In the first quarter of this year, the IT&C sector contributed 0.9 percentage points to the 4.3% GDP growth rate.
Corporate financing granted during the crisis years proved to be the worst investment made by the banks, as the non-performance rate reached 24% in the first half of 2014. The highest non-performance rates were reported for corporate loans denominated in CHF and EUR: 61% and 24%.
Banca Romana de Credite si Investitii, a bank owned by businessman Dorinel Umbrarescu, ended 2014 with a net loss of RON 35 million. However, the bank's assets grew 2.5-fold, while the portfolio of loans soared tenfold. BRCI operates on the license bought in December, 2013, from ATE Bank.
Approximately 500 workers are currently laboring at the ParkLake shopping center construction site, a project worth EUR 180 million. The 70,000 sqm of future retail space are Sonae Sierra and Caelum Development's foothold in eastern Bucharest, which also houses the recently opened Mega Mall.
The Senate's president, Calin Popescu-Tariceanu, voiced his regret with President Klaus Iohannis's decision to make public his opposition to the Criminal Code and Criminal Procedure Code amendments. In a meeting with the magistrates' representatives, Tariceanu complained that the amendment debate had become politicized.
While pushing through a bill giving MPs special pensions, a group of Social Democratic (PSD) deputies resurrected the controversial lobbying bill last seen in the so-called Black Tuesday of the Romanian Parliament. The bill would ostensibly regulate lobbying activities, but opponents say it opens new loopholes for MPs to dodge the criminal law.
Tarom, the national carrier that usually services Romanian officials on their foreign trips, has informed the President's Office that it cannot rent a plane to President Iohannis for his trip to the European Council's meeting. The company's representatives said that they do not have any available planes for the June 25-26 trip.
Medical care at home services provided to the elderly and other people who suffer from health problems should be integrated into a national program, according to the representatives of 60 NGOs. The NGOs have come up with a house care project and urged the Ministry of Labor and Ministry of Health to join them.