The number of positions allocated to the three-year vocational schools for the 2015-2016 academic year is up 2,4000 on an annual basis, according to data from the National Development Center for Vocational and Technical Education (CNDIPT) quoted by the Coalition for Romania's Development (CDR). CDR is a private, non-political initiative, gathering the most representative organizations for the business environment in Romania. It is constructed as a formal collaborative arrangement by its combined membership, all of which have good standing as organizations in Romania. CDR membership includes business organizations such as: RBL, FIC, AmCham, and AHK Romania.
Representatives of the International Monetary Fund have asked the Romanian government to remove the tax cuts featured in the draft Fiscal Code because the international financial institutions do not believe in an automatic increase in budget revenues, according to the IMF's representative to Romania, Guillermo Tolosa.
The National Institute for Statistics (INS) reported an 8.5% increase in net investment in the national economy for the first quarter of this year, compared to Q1, 2014. New constructions headed the growth index with 16.2%.
The Ministry of Finance (MFP) borrowed yesterday, June 4, RON 162 million banks from the commercial banks through an issue of bonds with a 31-month residual maturity. The average weighted yield was 1.26% per year. An additional tender will be held today for another EUR 45 million at the same yield.
Romania is still not ready for Eurozone accession and won't be so for some time. Before the time for accession comes, the country should focus on structural reforms and avoid bad economic policies, according to Mugur Isarescu, governor of the National Bank of Romania (BNR).
UniCredit Bank Austria AG announced on Wednesday evening that it had reached an agreement for the acquisition of the 45% stake in UniCredit Tiriac Bank held by Tiriac Holding. This would give the Austrian group control over 95.6% of the Romanian bank. The minority shareholders are hoping to receive a decent buyout offer from the Austrian group.
Banca Transilvania representatives said that they had not engaged in takeover negotiations regarding Piraeus Bank Romania, but are open to new acquisitions. BT has recently acquired the Romanian subsidiary of Volksbank, thus boosting its market share to 12.7%. A possible takeover of Piraeus Bank would put Banca Transilvania ahead of BRD-GSG, the second-biggest player of the Romanian market.
Profi opened on Thursday three new stores located in Suceava, Calarasi and Segarcea. The chain has now 306 stores located in 147 towns and cities. While the Calarasi store is a standard box, the Segarcea unit belongs to the Mini experimental format and the Suceava one is of the City type.
Oracle will rent more than 20,000 sqm of office space in Oregon Park, the office ensemble built in northern Bucharest by Portland Trust. This is one of the biggest real estate transactions of 2015. Oracle has recently rented 10,400 sqm in Sky Tower and will hire 2,000 new employees.
The Senate's Health Commission has reported out favorably the medical personnel revenues bill, following a 6-4 vote. The bill would allow medical personnel to provide private services in state-owned hospitals outside the normal working hours, at the patients' request.
The Social Democrats (PSD) and National Liberals (PNL) agreed to back the new parliament elections bill, which was pushed through the Senate with only two votes against. Despite the support of both ruling and opposition parties, the bill had been criticized by NGOs for its bias against new parties and citizens living abroad.
Vasile Blaga, Co-President of the National Liberal Party (PNL), stated on Thursday that there's a mathematical chance that the Ponta Cabinet could be brought down with a motion of censure regarding the diaspora voting debacle.
Unemployed men outnumber unemployed women for the first time in Romania, according to the latest data issued by the National Institute for Statistics (INS). The average unemployment rate was estimated at 5.5% in April: 6.2% for men and 4.6% for women.