The industrial producer price index dropped 0.5% in April, compared to the previous month, according to the National Institute for Statistics (INS). The energy sector reported a 1.5% fall in prices, while capital goods announced 0.5% and durables 0.1%.
The Government must try to correlate the minimum and average national salaries, while also expanding the collective bargain and social dialog legislation because Romania needs these measures to make decent work a reality, according to statements made by Petru Dandea, Vice-President of CNS Cartel Alfa, at the European Decent Work - Decent Life Speakers Tour 2015 conference. "And last, but not least, the Government must stop its current arbitrary social dialog, which means mostly meetings with FIC representatives," said Dandea.
Romania's economy is growing at a healthy pace, but the country is facing three challenges: populism, possible internal political turmoil and regional tensions. This is what Prime Minister Victor Ponta told the Chamber of Deputies. The speech was accompanied by a document outlining the economy's development.
The National Bank of Romania (BNR) announced that the foreign currency reserves amounted to EUR 30.2 billion at the end of May, up EUR 126 million on a monthly basis, but down EUR 500 million on an annual basis. The gold reserve remained at 103.7 tons, currently worth EUR 3.61 billion.
A survey released by the National Bank of Romania (BNR) on Tuesday showed that access to financing ranked last in a list of nine pressing problems faced by Romanian companies. Managers think that taxation, competition, lack of demand and production costs are more important than financing.
A poll conducted by the National Bank of Romania (BNR) showed that Romanian companies want to maintain or reduce their indebtedness levels. 64% of companies would turn down a RON-denominated loan, while 68% would do to the same with a EUR-denominated loan, regardless of the costs.
CEC Bank, the only big bank in Romania still controlled by the state, posted for 2014 gross profits amounting to RON 13.8 million, a four-fold drop compared to 2013. The bank spent more than RON 500 million on risk provisions in an effort to cleanse its balance sheet of NPLs. As part of this effort, CEC Bank removed more than RON 730 million worth of NPLs from its books, bringing the NPL rate down to 21.74%, which is closer to the banking sector's average.
Onix Residence, part of a group controlled by businessman Mohammad Murad, will invest EUR 12 million in the construction of two new blocks of 215 flats located within the Onix Residence ensemble. The buildings are scheduled for completion in June, 2016, according to exclusive agent Coldwell Banker Affiliates of Romania.
Mercedes-Benz Romania opened yesterday a new repair shop for trucks located on Pitesti's beltway, close to the Craiova exit. First Truck Service invested EUR 500,000 in bringing the former Volvo Trucks repair shop to the German brand's standards. Last year, Mercedes-Benz Romania sold 1,200 trucks and had a market share of 23.6%.
The Fratelli group, which owns the Fratelli chain of restaurants, the Biutiful pub in Bucharest's old town, the Le Club expats club and the Flavours catering company, has opened a bistro and beer pub called Fratellini. The pub is open from 8 AM to 8 PM.
The DNA's request to allow the preventive arrest of Senator Dan Sova was rejected by the Senate for the second time. The official tally was 72 votes against, 66 votes in favor and 2 canceled votes. PNL representatives announced they would bring the matter before the Constitutional Court again.
Drug addicts could soon be allowed to inject in supervised facilities, according to Sorin Oprea, head of the National Anti-drugs Agency (ANA). The matter is being discussed with experts and members of the civil society. "Such a decision require a mindset change. It's not easy to say that we have an injection room. This model works in countries where drugs consumption has been around for some time and they have experts, doctors and psychologists who supervise the addicts," said Oprea.