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2015 Archive:
 
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June, 2015
June 2, 2015
June 3, 2015
June 4, 2015
June 5, 2015
June 8, 2015
June 9, 2015
June 10, 2015
June 11, 2015
June 12, 2015
June 15, 2015
June 16, 2015
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June 18, 2015
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June 22, 2015
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June 24, 2015
June 25, 2015
June 26, 2015
June 29, 2015
June 30, 2015



      June 8, 2015


FIC (0)
No news for today
Macroeconomic News (3)
Potential output needs support
MFP borrowed RON 162 million
Romania's GDP estimated at RON 139.2 billion
Financial News (3)
Fitch Ratings upgrades BT's long-term debt rating
Three quarters of new loans denominated in RON
Unpaid installments down RON 1 billion
Investment News (3)
Pepco expansion handled by former Tako and Real team member
Black Sea project
EC approves Line 4 funding
Politics (1)
PM Ponta to fight DNA
Social (2)
Hugo Boss supplier to hire 200 new workers
More than 900 drugs removed from compensated list

   Macroeconomic News (3)

Potential output needs support
Whether Romania wants to reach a 5% growth rate, join the Eurozone or keep the pensions system afloat, the government needs to take steps to increase the potential output, improve capitals, the demographic situation and the level of productiveness, according to Valentin Lazea, Chief-Economist of the National Bank of Romania (BNR).

(Source: cursdeguvernare.ro; Date: 2015-06-08; Author: Unspecified)

MFP borrowed RON 162 million
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.

(Source: bursa.ro; Date: 2015-06-08; Author: Unspecified)

Romania's GDP estimated at RON 139.2 billion
Romania's GDP was estimated at the end of the first quarter at RON 139.27 billion in current prices, up 4.3% year-on-year. The retail, automotive repairs, transport, hotels, restaurants and industry sectors were the main engines driving GDP growth, according to the National Institute for Statistics (INS). According to the seasonally-adjusted figures, the GDP stood at RON 174.85 billion, up 1.6% year-on-year.

(Source: bursa.ro; Date: 2015-06-08; Author: Unspecified)

   Financial News (3)

Fitch Ratings upgrades BT's long-term debt rating
Fitch Ratings has upgraded Banca Transilvania's long-term debt rating to BB and confirmed those of UniCredit Tiriac Bank (BBB), ProCredit Bank Romania (BBB-) and Garanti Bank (BB+). While Garanti Bank's rating is being monitored for a possible upgrade, the others were declared stable.

(Source: bursa.ro; Date: 2015-06-08; Author: Unspecified)

Three quarters of new loans denominated in RON
The interest rates of some RON-denominated loans now match those of EUR-denominated loans, which removes the need to accept an exchange rates risk. The commercial banks issued new loans worth more than RON 15 billion in the first four months of this year, more than three quarters of which were denominated in the national currency, according to data released by the National Bank of Romania (BNR).

(Source: zf.ro; Date: 2015-06-08; Author: Unspecified)

Unpaid installments down RON 1 billion
The aggregated value of unpaid installments on retail and corporate loans amounted to RON 31 billion at the end of April, down RON 1 billion year-on-year, according to the National Bank of Romania (BNR). The total number of clients who are behind in their payments dropped in the past year from 215,926 to 206,143.

(Source: bursa.ro; Date: 2015-06-08; Author: Unspecified)

   Investment News (3)

Pepco expansion handled by former Tako and Real team member
Pepco, a Polish apparel discounter, is expanding in Romania under the guidance of Valentin Dobrescu and Victor Ugron. Dobrescu is head of expansion and construction at Pepco and a former expansion and portfolio director at Takko and head of real estate at Real. Ugron has worked for the Best&Less, Pepkor and Pepco brands.

(Source: zf.ro; Date: 2015-06-08; Author: Unspecified)

Black Sea project
The biggest natural gas networks development project currently under development bears the codename Black Sea and it involves EUR 1.5 billion worth of pipelines that are supposed to bring natural gas from beneath the Black Sea to the Hungarian border.

(Source: zf.ro; Date: 2015-06-08; Author: Unspecified)

EC approves Line 4 funding
The European Commission approved the allocation of EUR 83 million for extending Line 4 of the Bucharest subway system with the Parc Bazilescu-Straulesti sector. The 1.89-kilometer extension will benefit the residents of Bucurestii Noi and Chitila and is expected to be used by around 3.6 million passengers every year. The money will come from the Cohesion Fund.

(Source: cursdeguvernare.ro; Date: 2015-06-08; Author: Unspecified)

   Politics (1)

PM Ponta to fight DNA
Prime Minister Victor Ponta stated on Sunday that, instead of resigning, he would fight the prosecutor's order and affirm his innocence. The official announcement came after two days of talks with the party and its allies, including an emergency meeting of the ruling coalition.

(Source: cursdeguvernare.ro; Date: 2015-06-08; Author: Unspecified)

   Social (2)

Hugo Boss supplier to hire 200 new workers
Artifex, a Focsani-based textiles and clothing producer that numbers among its clients brands such as Hugo Boss, Massimo Dutti, Lacoste Premium and COS, estimates for this year a turnover of EUR 34 million, up 25% from 2014. The company will continue to recruit between 100 and 200 employees per year because demand is high.

(Source: zf.ro; Date: 2015-06-08; Author: Unspecified)

More than 900 drugs removed from compensated list
More than 900 drugs were removed from the compensated list by the pharmaceutical companies, which preferred not to apply with the Ministry of Health. Mihaela Udrea, head of the Ministry of Health's Pharmaceutical Division, assured the public that alternatives exist for every one of these products.

(Source: adevarul.ro; Date: 2015-06-08; Author: Unspecified)

   
   
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