News

Daily Newsletter - 12 July 2017

Summary

Macroeconomic News (5)

Industry turnover up 18.5% in May 

The combined turnovers of industrial companies jumped 18.5% in May, compared to the corresponding month of 2016, the highest growth rate in ten years, according to data released on Tuesday by the National Statistics Institute (INS). The main drive of the industrial sector was the mining industry.

Top

EP looks into low absorption rate for EU funds 

The budget control commission of the European Parliament will discuss today, in a public session, Romania's low absorption rate for the EU funds made allocated from the 2007-2013 budget. Romania ranks at the bottom of the fund absorption index.

Top

Consumer prices surged in June 

The annual inflation rate increased to 0.9% in June, compared to 0.6% in May, following a surge in food prices. The inflation rate was above the National Bank of Romania's (BNR) estimate of 0.6%.

Top

Car registrations up 27.08% in June 

The number of vehicles registered in June was 11,231, up 27.08% year-on-year, according to the DRPCIV. 8,030 of them were cars and almost half of them were Dacia models. However, Romanians also registered one Cadillac, one Ferrari and two each of Bentley and Rolls-Royce.

Top

Inflation worries 

The KeysFin barometer tracking the investors' view of the business environment showed that the national currency outlook of most investors has changed. In December, 76% of investors expected the national currency to remain predictable in 2017 and the euro hovering between RON 4.45 and 4.55. However, the political turmoil that gripped the first half of this year forced investors to change their views.

Top

Financial News (2)

UniCredit Bank and MoneyGram launch transfer service 

MoneyGram and UniCredit Bank have launched a new cash transfer service for the Romanian market. Cash 2 ATM lets clients receive money from abroad, via any MoneyGram partner, and withdraw it from any ATM or BNA owned by UniCredit Bank. "Through these small steps, through each new partner and service introduced in Romania, we are getting closer to our purpose of simplifying cash transfers," said Head of Key Partnerships Southern Europe MoneyGram International, Radu Pojoga.

Top

Raiffeisen says RON would appreciate slightly 

Raiffeisen Bank analysts expect the national currency to rise slightly against the euro, while remaining stable versus the US dollar.

Top

Investment News (2)

Holcim Romania opens new cement terminal in Roman 

Holcim Romania has opened a new cement terminal in Roman, Neamt county, the culmination of a RON 12.5 million investment project. The new terminal will supply the company's clients in central and northern Moldova. The 13,120 sqm terminal is connected to the railroad network and uses automated loading and unloading equipment.

Top

BCR and EBRD finance CTPark Bucharest West expansion 

Banca Comerciala Romana (BCR) and the European Bank for Reconstruction and Development will finance the expansion of logistics park CTPark Bucharest West. The two banks will contribute a total of EUR 75.8 million to the attempt to make CTPark Bucharest West the biggest logistics park in Romania.

Top

Legislative News (1)

Personal bankruptcy law to come into force next month 

The personal bankruptcy law will come into force on August 1, giving private individuals the option to file for bankruptcy, using one of the three paths set by the law.

Top

Politics (1)

PM Tudose reassures Donald Tusk 

Prime Minister Mihai Tudose assured European Council president Donald Tusk on Tuesday that any attempt to amend the Criminal Code would involve an ample consultation process.

Top