News

Daily Newsletter - 22 August 2019

Summary

Macroeconomic News (3)

Investment falls

Both state investment and the long-term investment of corporations halved in 2018, compared to 2009. This is proof that the private sector either does not have the resources or the confidence to invest, in the absence of a state commitment.

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SMEs on hiring spree

More than 87,000 jobs have been advertised by small and medium-sized employers since the beginning of the year, up more than 60% compared to the corresponding period of 2018. In total, almost 12,500 SMEs posted at least one hiring ad on the eJobs.ro platform in the first seven months of this year. Most ads came from sales companies, followed by human resources and banks.

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Automotive market up 9.5% in seven months

Car sales climbed 3% in July, compared to the corresponding month of 2018. The overall growth rate for the first seven months of the year is 9.5%, with sales amounting to 115,800 units, according to industry group APIA.

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Financial News (3)

Romanian Visa card holders to be first Europeans to pay for shopping by installments

Romanian Visa card holders will be the first Europeans to pay for shopping by installments under a pilot project that allows shoppers to take advantage of this option in online and brick-and-mortar stores. ING Bank card holders will get the option to pay by installments in Altex stores and on eMAG's online market.

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BCR financed 2,500 entrepreneurs under Start-Up Nation program

BCR has financed 2,500 entrepreneurs under Start-Up Nation program, depleting its guarantee budget in two months. The bank is a partner of this program for the second consecutive year, operating together with the European Investment Fund, through the COSME initiative.

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National banking system posts RON 2.77 billion in H1 earnings

The national banking system reported a total of RON 2.77 billion in earnings for the first half of this year, while assets hit a new high of RON 458.8 billion, the loans-to-deposits ratio dropped and the NPL rate continued to fall. Solvency remained above 19%.

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Investment News (1)

Bog'Art and UTI to build Brasov airport

Bog'Art, the huge construction company owned by Raul Doicescu, has teamed up with UTI Grup and UTI Facility Management to land the EUR 31 million contract for designing and building the passenger terminal of the Brasov-Ghimbav Airport.

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Politics (2)

USR leader blasts government over Sapoca deaths

Dan Barna, President of the Save Romania Union (USR), stated in Bacau on Wednesday that Romania "has stopped functioning as a state", referring to both the Caracal murders and the Sapoca Psychiatric Hospital deaths. Barna said "change is needed".

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Romania wants transport, energy or environment portfolios

Prime Minister Viorica Dancila announced that she had told Ursula von der Leyen, president elect of the European Commission, that Romania is interested in the transport, energy or environment portfolios in the next commission.

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Social (2)

Rabla Program budget increased

The government added RON 20 million to the Rabla Program's budget at Wednesday's meeting. Another RON 400 million were earmarked for the modernization, rehabilitation, retooling and expansion of centralized heating systems.

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Purchasing power up 18% in 2018

The net annual income per capita increased by 18% last year, rising to EUR 5,083 from EUR 4,556 in 2017 and EUR 4,181 in 2016, according to a GfK report. The development index is headed by Bucharest, followed by the Cluj, Timis and Ilfov counties.

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