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2015 Archive:
 
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September, 2015
September 1, 2015
September 2, 2015
September 3, 2015
September 4, 2015
September 7, 2015
September 8, 2015
September 9, 2015
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September 11, 2015
September 14, 2015
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September 16, 2015
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September 18, 2015
September 21, 2015
September 22, 2015
September 23, 2015



      September 16, 2015


FIC (0)
No news for today
Macroeconomic News (4)
Romania is a babe in IMF's woods
New Fiscal Code
Dividend tax cut could come into force next year
European funds absorption rate only 52%
Financial News (3)
Retail clients had approximately RON 7 billion in new RON-denominated deposits in July
CHF loans crisis creates new problems
BCR cancels NPLs sale
Investment News (2)
Cluj-Napoca City Hall to invest EUR 15 million in school modernization
Cluj receives RON 85.6 million in infrastructure funds
Legislative News (1)
Minister of Health: Every pharma company should pay taxes depending on how much it receives from the state budget
Politics (1)
PSD Congress to elect new party leader on October 11
Social (1)
CFR unions want to go on general strike

   Macroeconomic News (4)

Romania is a babe in IMF's woods
The preventive agreement signed two years ago by Romania and the International Monetary Fund expires at the end of September and local politicians are struggling with the rhetoric responsibility of deciding whether to sign a new agreement or not. The ruling coalition and the opposition parties make speech after speech dealing with the idea of need: does Romania really need another agreement or can the country "perform" on its own from now on?

(Source: bursa.ro; Date: 2015-09-16; Author: Unspecified)

New Fiscal Code
The new Fiscal Code has been recently published in the Official Gazette as Law 227/2015. The law brings certain changes to the taxation of revenues from ceding intellectual property rights, beginning with 2016.

(Source: economica.net; Date: 2015-09-16; Author: Unspecified)

Dividend tax cut could come into force next year
The reduction of the tax on dividends from 16% to 5% could come into force as early as 2016. Still, the final decision depends on the ruling coalition, according to the Minister of Agriculture, Daniel Constantin. "The decision will have no impact on next year's budget. Its impact will only be felt in 2017," said the Minister.

(Source: bursa.ro; Date: 2015-09-16; Author: Unspecified)

European funds absorption rate only 52%
With four months to go until the end of the 2007-2013 budget, Romania had an absorption rate for EU funds of only 52%. Of the EUR 19 billion offered by the European Union, Romania has managed to absorb only EUR 9.9 billion, while sending to Brussels payment requests for a total of EUR 10.7 billion.

(Source: zf.ro; Date: 2015-09-16; Author: Unspecified)

   Financial News (3)

Retail clients had approximately RON 7 billion in new RON-denominated deposits in July
Retail clients had in July approximately RON 7 billion in new RON-denominated deposits maturing in less than 12 months, down RON 500 million compared to the corresponding month of 2014, according to the National Bank of Romania (BNR). The average interest rate offered by the banks dropped to 1.7% on an annual basis. The aggregated value of new RON-denominated deposits maturing between 12 and 24 months opened in July was RON 116 million, twice higher compared to 2014.

(Source: zf.ro; Date: 2015-09-16; Author: Unspecified)

CHF loans crisis creates new problems
The CHF loans crisis is still creating unrest in the affected countries. However, some governments are actually reacting or, at least, showing their willingness to intervene and calm things down. In Poland, for instance, President Andrzej Duda wants to sent the Parliament a bill for converting all CHF loans at the original exchange rate.

(Source: bursa.ro; Date: 2015-09-16; Author: Unspecified)

BCR cancels NPLs sale
BCR, leader of the Romanian banking market, has canceled the sale of EUR 3.6 billion in non-performing loans. The bank has declined to comment, except to say that it would continue its efforts to manage its large NPLs portfolio. The bank's options are limited to breaking up the package and selling it in batches or internal management.

(Source: zf.ro; Date: 2015-09-16; Author: Unspecified)

   Investment News (2)

Cluj-Napoca City Hall to invest EUR 15 million in school modernization
The Cluj-Napoca City Hall will invest EUR 15 million in the modernization of school infrastructure. EUR 1.9 million will be spent on primary schools, while EUR 10.6 million in European funds will be used to rehabilitate and refurnish the Ion Agarbiceanu primary school and the Avram Iancu and Mihai Eminescu high schools.

(Source: zf.ro; Date: 2015-09-16; Author: Unspecified)

Cluj receives RON 85.6 million in infrastructure funds
The Ministry of Regional Development and Public Administration (MDRAP) has allocated RON 85.6 million for infrastructure works in the Cluj county under the national program for regional development. The funds will be used to repair roads and bridges and build new water and sewage networks.

(Source: zf.ro; Date: 2015-09-16; Author: Unspecified)

   Legislative News (1)

Minister of Health: Every pharma company should pay taxes depending on how much it receives from the state budget
The players of the Romanian pharma industry, which is divided between the producers of OTCs and the producers of innovative drugs, could soon pay taxes depending on their consumption of state budget resources, according to a new clawback tax bill drafted by the Ministry of Health.

(Source: zf.ro; Date: 2015-09-16; Author: Unspecified)

   Politics (1)

PSD Congress to elect new party leader on October 11
The National Permanent Bureau (BPN) of the Social Democratic Party (PSD) decided yesterday to hold the extraordinary congress on October 11, 30 days ahead of schedule, at the request of a series of organizations in order to elect a new team of leaders as soon as possible.

(Source: cursdeguvernare.ro; Date: 2015-09-16; Author: Unspecified)

   Social (1)

CFR unions want to go on general strike
The Railroad Transport Labor Federations (FSTF) will go on a general strike on October 1 unless the managers agree to sign the collective bargain by September 30, including a pay rise of at least 10%. The unions also demanded food vouchers for all working days, holiday vouchers for 2016 and a personnel policy that would keep the railroad system running properly.

(Source: economica.net; Date: 2015-09-16; Author: Unspecified)

   
   
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