News

Daily Newsletter - 23 February 2017

Summary

Macroeconomic News (5)

Analysis of Romania (Source: cursdeguvernare.ro; Date: 2017-02-22; Author: Unspecified)

Despite the progress made by Romania in implementing the European Commission's recommendations, "structural challenges could hurt the medium-term outlook," according to the report regarding Romania. The report is included in the "winter package" of evaluations released on Wednesday by the EC.

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Vegetable farmers to be paid subsidies on Friday (Source: digi24.ro; Date: 2017-02-23; Author: Unspecified)

The Agriculture Payment and Intervention Agency started paying subsidies to vegetable farmers on Wednesday. The funds are expected to reach the farmers' accounts beginning with Friday, February 24. APIA has authorized so far the payment of subsidies to 253,071 farmers, worth a combined EUR 25.5 million.

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Ireland, Romania and Bulgaria reported lowest annual inflation rates in EU (Source: bursa.ro; Date: 2017-02-22; Author: Unspecified)

Ireland, Romania and Bulgaria reported lowest annual inflation rates in the European Union: 0.2%, 0.3% and 0.4%, respectively, according to figures released on Wednesday by Eurostat. The National Statistics Institute (INS) calculated a consumer price modification of 0.05%.

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EC: Romania made significant progress toward natural gas market deregulation (Source: profit.ro; Date: 2017-02-22; Author: Unspecified)

Romania has made significant progress toward natural gas market deregulation, but the wholesale market remains very concentrated, with three players accounting for 75% of the market, according to the country report released on Wednesday by the European Commission.

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State budget revenues down 5% in January (Source: zf.ro; Date: 2017-02-22; Author: Unspecified)

The revenues of the general consolidated budget were 5% lower in January, compared to the corresponding month of 2016. VAT revenues plunged 20%, according to sources close to the Ministry of Finance.

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Financial News (3)

A quarter of phishing attacks targeted banks (Source: economica.net; Date: 2017-02-23; Author: Unspecified)

25.76% of all financial phishing attacks, such as fraudulent emails or the replication of certain websites, targeted the commercial banks in 2016, according to a report from Kaspersky Lab. Last year, the company's anti-phishing technologies detected almost 155 million attempts made by users to visit various phishing pages and almost half of them were financial phishing pages.

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Isarescu annoyed with Isar and Piperea's accusations (Source: bursa.ro; Date: 2017-02-22; Author: Unspecified)

Mugur Isarescu, Governor of the National Bank of Romania (BNR), seems annoyed with the accusations made against him by former banker Lucian Isar and lawyer Gheorghe Piperea. Isar has published on his blog a number of posts criticizing BNR and the Governor.

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Banca Transilvania passed RON 10 billion capitalization yesterday (Source: zf.ro; Date: 2017-02-23; Author: Unspecified)

Banca Transilvania, the second biggest bank in Romania, based on the value of assets, reached in yesterday's mid-trade a record capitalization of more than RON 10 billion, the highest figure since the bank's listing in 1997. The bank's shares have gained 18% since the beginning of this year.

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Investment News (1)

Arad mayor announces EUR 17 million investment project by OMV (Source: news.ro; Date: 2017-02-22; Author: Unspecified)

The mayor of Arad, Gheorghe Falca, announced on Wednesday that OMV Petrom would invest EUR 17 million in the construction of a regional distribution center for oil products. The city will condemn some properties in order to modernize a road and link the center to the beltway before operations begin.

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Politics (2)

Velvet reshuffling (Source: cursdeguvernare.ro; Date: 2017-02-22; Author: Unspecified)

Prime Minister Sorin Grindeanu announced on Wednesday that he would bring three new ministers into the Cabinet, two of them having served under prime minister Victor Ponta.

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Mihai Chirica stripped of party positions (Source: euractiv.ro; Date: 2017-02-22; Author: Unspecified)

Mihai Chirica, the mayor of Iasi and a vocal critic of the Cabinet's handling of the Emergency Decree 13 debacle and protests, will not be kicked out of the Social Democratic Party (PSD). He will however be stripped of any party positions, according to the decision taken by the PSD's Executive Committee.

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Social (2)

Romania has lowest number of culture employees (Source: zf.ro; Date: 2017-02-23; Author: Unspecified)

Romania has lowest number of culture employees of all EU member countries - 1.2%. The highest number was reported by Luxembourg - 4.4%. The information is featured in the report released by Eurostat on Wednesday.

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Romania has one of the highest income inequality rates in the EU (Source: capital.ro; Date: 2017-02-23; Author: Unspecified)

Romania has one of the highest income inequality rates in the EU. While poverty and social exclusion remain high, the income inequality rate is actually increasing. At the same time, the risk of poverty and social exclusion persists among the young NEETs (Not in Education, Employment or Training), families with children and the disabled.

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