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June, 2015
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      June 22, 2015


FIC (1)
Story of resident and student who chose not to leave Romania
Macroeconomic News (3)
New car sales at three-year high
5% VAT rate for books and newspapers
Ponta says economy is doing well
Financial News (3)
D-Day for Greek banks
"Romania has no banking, nor stock market, but wants to develop"
Western Union, MasterCard and Banca Transilvania strike remittances agreement
Investment News (3)
LC Waikiki to open four new stores
Two entrepreneurs aim for EUR 100,000 in revenues
After spending seven years working for multinationals, Raluca Apavaloae opened English club
Legislative News (1)
Emergency solution
Politics (1)
PM Ponta to stay another seven days in Turkey
Social (1)
Rovana Plumb: Austrian minister's message is unacceptable

   FIC (1)

Story of resident and student who chose not to leave Romania
Around 75% of Romania's young doctors and medical students are tempted to a certain extent to work abroad, according to a survey by MedClass on a sample group of 24 people. "This year, we decided to organize the MedClass program for young students and residents who want to know more about how to become good doctors in Romania," said Barbara Cygler, coordinator of FIC's Health Work Group.

(Source: business-forum.ro; Date: 2015-06-22; Author: Unspecified)

   Macroeconomic News (3)

New car sales at three-year high
The sales of new cars reached a three-year high in May and came close to passing 10,000 units per month for the first time since November, 2011, according to APIA data. On an annual basis, the volume of sales is up almost 90%, the highest year-on-year growth rate of the past decade.

(Source: zf.ro; Date: 2015-06-22; Author: Unspecified)

5% VAT rate for books and newspapers
The Budget and Finance Commission of the Chamber of Deputies voted this week in favor of reducing the VAT rate to 5% for school books, newspapers and magazines, books and access to museums, zoos, sport events, castles, memorial homes, historical monuments, cinemas, fairs, exhibitions and various cultural events, according to a press release issued by Deputies Andreea Paul (PNL) and Vasile Horga (PNL).

(Source: bursa.ro; Date: 2015-06-22; Author: Unspecified)

Ponta says economy is doing well
In a speech before the Parliament, Prime Minister Ponta said that Romania's average economic growth rate had been 3% in the past years, according to Eurostat data, and that the first quarter of this year had brought a 4.2% GDP growth rate. "The economic growth is not based on occasional sources, but on internal and external drives, domestic consumption, exports, industry and services and, more importantly, a resurgent construction market that we need to encourage," said the PM.

(Source: bursa.ro; Date: 2015-06-22; Author: Unspecified)

   Financial News (3)

D-Day for Greek banks
The Romanian banking market is tense, as the crisis gripping Athens has reached the point where capital movement restriction measures seem imminent, including a freeze on deposits. Greek banks, which have seen a quarter of deposits liquidated since the beginning of this year, account for 12% of the Romanian market.

(Source: zf.ro; Date: 2015-06-22; Author: Unspecified)

"Romania has no banking, nor stock market, but wants to develop"
Romania needs more banking, according to Andrei Radulescu, an analyst with Banca Transilvania. Radulescu noted that banking services are the equivalent of 50% of GDP in Romania, a far cry from Austria's 280%. "Romania has no banking, nor stock market, but wants to develop. It's not going to work," said Radulescu at a banking seminar held in Sinaia on Friday.

(Source: bursa.ro; Date: 2015-06-22; Author: Unspecified)

Western Union, MasterCard and Banca Transilvania strike remittances agreement
Western Union, MasterCard and Banca Transilvania have reached an agreement that would allow Romanian holders of MasterCard and Maestro cards to withdraw their remittances from BT's network of more than 900 ATMs. The service will be activate before the end of this year. "This is a pioneering agreement that brings together Western Union's cross-border capabilities, the world's biggest payment processing company and the network owned by the third-biggest bank in Romania," said Odilon Almeida, President of Western Union for America and the EU.

(Source: bursa.ro; Date: 2015-06-22; Author: Unspecified)

   Investment News (3)

LC Waikiki to open four new stores
Turkish group LC Waikiki has built a chain of 14 stores since its arrival in Romania in 2009 and is planning to open four new stores before the end of this year. The average financial effort required by a new store is around USD 1.5 million, which makes the chain worth USD 21 million, plus another USD 6 million for the new stores.

(Source: zf.ro; Date: 2015-06-22; Author: Unspecified)

Two entrepreneurs aim for EUR 100,000 in revenues
Laura and Adrian Dragnea founded Pure Clean, a professional cleaning service. The company's revenues reached EUR 40,000, up eight-fold in one year, and the two owners want to exceed EUR 100,000 this year and EUR 1 million in three years.

(Source: zf.ro; Date: 2015-06-22; Author: Unspecified)

After spending seven years working for multinationals, Raluca Apavaloae opened English club
Raluca Apavaloae spent seven years working for transport and logistic multinationals. In 2011, she decided to start her own education business in the shape of a club that teaches English to both children and adults. In the first three years, she invested around EUR 10,000 in developing the Mortimer English Club franchise, which she had imported from Germany.

(Source: zf.ro; Date: 2015-06-22; Author: Unspecified)

   Legislative News (1)

Emergency solution
The Budget and Finance Commission of the Chamber of Deputies will vote today on the VAT rate cut from 24% to 20%. Thus, the VAT rate cut could be passed as an emergency ordinance around the year end. Government sources say that the VAT rate would probably stay at 24% in order to comply with the European Commission's wishes.

(Source: cursdeguvernare.ro; Date: 2015-06-22; Author: Unspecified)

   Politics (1)

PM Ponta to stay another seven days in Turkey
Prime Minister Victor Ponta announced that the doctors had declared him fit to leave the hospital and that he would return to the regular schedule within 28 days. Therefore, the PM had asked President Iohannis to give full powers to Deputy PM Gabriel Oprea. According to the PM's letter, Oprea will be allowed to head the Cabinet meetings beginning with June 22.

(Source: cursdeguvernare.ro; Date: 2015-06-22; Author: Unspecified)

   Social (1)

Rovana Plumb: Austrian minister's message is unacceptable
The Minister of Labor, Rovana Plumb, called unacceptable the statements made by the Austrian Minister of Foreign Affairs, Sebastian Kurz, regarding the aid paid to Romanian children living in Austria and added that the Romanian Government would not allow any acts of discrimination against Romanian citizens. Kurt had called for a reform of EU social services and voiced his unhappiness with the EUR 160 paid by the Austrian state to every child of the Romanian families living in Austria.

(Source: adevarul.ro; Date: 2015-06-22; Author: Unspecified)

   
   
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