News

Daily Newsletter - 15 March 2017

Summary

Macroeconomic News (4)

Romania ranks 10th in EU renewable energy consumption (Source: economica.net; Date: 2017-03-14; Author: Unspecified)

Romania ranks 10th in the European Union based on the renewable energy's part of the gross final energy consumption in 2015, according to data released on Tuesday by Eurostat. The first places went to Sweden (53.9%), Finland (39.3%) and Latvia (37.6%).

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Trade deficit worsened (Source: bursa.ro; Date: 2017-03-14; Author: Unspecified)

The trade balance deficit reached EUR 602.2 million in January, 2017, up EUR 222.5 million on an annual basis, according to data released by the National Statistics Institute (INS). Exports amounted to EUR 4.68 billion, while imports came in at EUR 5.28 billion.

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Industry begins 2016 on right foot (Source: zf.ro; Date: 2017-03-14; Author: Unspecified)

The National Statistics Institute (INS) announced that the industrial output climbed 5.8% in January, compared to the corresponding month of 2016. Despite the solid economic growth, the industry expanded only 2.7% last year.

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Matching Romanian production to revenue growth (Source: cursdeguvernare.ro; Date: 2017-03-14; Author: Unspecified)

Romania continues to specialize to the ends of the demand spectrum. Very good quality products are made for foreign markets and sub-systems are incorporated at low prices in bigger and top quality systems sold elsewhere, while cheap and low quality products are made for the domestic market.

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Financial News (3)

Erste sees EUR at RON 4.62 this winter (Source: bursa.ro; Date: 2017-03-14; Author: Unspecified)

The euro reached RON 4.5538 yesterday, a new record. The reference exchange rate passed RON 4.5512 last week, a four-year high. The brunt of the change will be born by debtors whose loans are denominated in euros. Imports will also become more expensive.

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Population's indebtedness rate referred by CNSF to BNR (Source: profit.ro; Date: 2017-03-14; Author: Unspecified)

The National Financial Stability Committee (CNSF), a body that includes BNR Governor Mugur Isarescu, has urged the BNR to keep a close eye on the population's indebtedness rate.

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Banking sector paid only RON 306.4 million in taxes last year (Source: zf.ro; Date: 2017-03-14; Author: Unspecified)

The banking sector paid only RON 306.4 million in taxes last year on approximately RON 4.3 billion in earnings, the second biggest annual profits since the economic crisis.

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Investment News (3)

Gabriel Ciornei, Airbus Helicopters Romania: H215 helicopters will be made in Brasov and sold around the world (Source: zf.ro; Date: 2017-03-14; Author: Unspecified)

Airbus Helicopters Romania is planning to manufacture the H215 model solely at the new EUR 52 million plant that opened in Brasov county at the end of last year. The model will be sold around the world.

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XXXLutz to open first Romanian store (Source: adevarul.ro; Date: 2017-03-14; Author: Unspecified)

XXXLutz, an Austrian furniture retailer, has decided to enter the Romanian market in order to become the main rival of IKEA. The company will set up shop in Timisoara and open its first store there.

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Apa Nova changes name (Source: news.ro; Date: 2017-03-14; Author: Unspecified)

Apa Nova Bucharest, operator of the capital's public water and sewerage services, announced on Tuesday that it would change its name to Apa Nova - Compania de Ape Bucharest. The company will also overhaul its fee system.

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Legislative News (1)

Uninominal voting system bill filed with Parliament (Source: adevarul.ro; Date: 2017-03-14; Author: Unspecified)

The uninominal voting system bill was filed with Parliament. The bill would amend the Electoral Code and the Dignitary's Charter and will be sent to the Venice Commission for analysis.

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Politics (1)

USR head says party members want Ciolos (Source: romanialibera.ro; Date: 2017-03-14; Author: Unspecified)

Nicusor Dan, president of the Save Romania Union (USR), stated on Tuesday that many party member want former prime minister Dacian Ciolos to join them. "We are still discussing a possible joining. This started 2-3 weeks ago," said Dan.

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Social (2)

Manpower survey says one in three companies hiring (Source: profit.ro; Date: 2017-03-14; Author: Unspecified)

Manpower Group's survey of hiring intentions is for the first time positive for every region of the country and every sector of the economy. 32% of Romanian employers are planning to hire in the second quarter of the year and only 7% expect to lay off personnel.

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Pensioners to employees ratio was 9/10 in Q4, 2016 (Source: cursdeguvernare.ro; Date: 2017-03-14; Author: Unspecified)

The average pensioner to employee ratio was 9/10 in Q4, 2016, according to the latest data from the National Statistics Institute (INS).

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