News

Daily Newsletter - 15 May 2017

Summary

Macroeconomic News (4)

Romania last in EU in family and children aid (Source: bursa.ro; Date: 2017-05-14; Author: Unspecified)

Romania ranks last in the European Union when it comes to the per capita aid provided to families and children. The EU average spending was EUR 651 per capita in 2014, far above Romania's EUR 91 per capita.

Top

Asian Infrastructure Investment Bank board approves seven new membership applications (Source: profit.ro; Date: 2017-05-14; Author: Unspecified)

The board of governors of the Asian Infrastructure Investment Bank has approved the membership applications of Romania and six other states. The Ministry of Foreign Affairs announced that AAIB's decision recognizes Romania's capacity to take part in promoting the institution's goals.

Top

Number of new foreign capital companies up 4.6% in Q1 (Source: economica.net; Date: 2017-05-15; Author: Unspecified)

The number of new companies established with foreign capital jumped 4.6% in the first quarter of this year, reaching a total of 1,388, according to the National Office of the Trade Registry (ONRC). The 1,388 companies had almost USD 14 million in subscribed capital, up 45% year-on-year.

Top

Minister of Economy speaks of natural gas exports (Source: zf.ro; Date: 2017-05-15; Author: Unspecified)

The Minister of Economy, Mihai Tudose, stated on Friday that Romania could become a natural gas exporter, following the coming online of the Buzau county field. The Minister added that the country also has the chance to become an energy hub for the entire region.

Top

Financial News (4)

CEC Bank to get new management (Source: bursa.ro; Date: 2017-05-14; Author: Unspecified)

The Ministry of Finance will launch the procedure for replacing CEC Bank's management, according to sources close to the situation. The nomination of a new president will follow the same procedure as every other bank. Radu Ghetea's term expires in September.

Top

Banca Transilvania could snatch leading position from BCR (Source: zf.ro; Date: 2017-05-15; Author: Unspecified)

Aside from Banca Romaneasca, three other banks are up for sale on the Romanian market: Bancpost, Veneto Banca and Marfin Bank. Banca Romaneasca, which controls 1.8% of the market, is sought by both OTP Bank and Banca Transilvania. A possible acquisition would make Banca Transilvania leader of the national market.

Top

38% of Romanians would rather not hold cash (Source: economica.net; Date: 2017-05-15; Author: Unspecified)

A survey conducted by ING Bank showed that 38% of Romanians would rather use solely payment instruments. This is the fourth highest figure in Europe, behind Poland, Italy and Turkey.

Top

EBRD grants EUR 40 million loan (Source: cursdeguvernare.ro; Date: 2017-05-14; Author: Unspecified)

The European Bank for Reconstruction and Development has granted Banca Transilvania a loan of EUR 40 million. The funds will be used to provide loans to households, homeowner associations and service providers for investments in energy consumption reduction.

Top

Investment News (2)

Oil Terminal Constanta seeks EUR 6 million loan (Source: news.ro; Date: 2017-05-14; Author: Unspecified)

Oil Terminal Constanta, operator of the Constanta Port's oil terminal, is seeking a long-term investment loan of EUR 6 million. The issue will be discussed by the company's shareholders at the June 19 meeting.

Top

OMV Petrom's gas-fired plant to resume operations in Q3 (Source: profit.ro; Date: 2017-05-14; Author: Unspecified)

OMV Petrom's gas-fired plant, which was shut down on April 21, will not be operational before the third quarter of this year, according to the company's financial reports. The reports confirmed the fact that the plant's equipment had malfunctioned on April 21, even though OMV Petrom did not notify the stock market until five days later.

Top

Politics (2)

Nicusor Dan wins internal election (Source: cursdeguvernare.ro; Date: 2017-05-14; Author: Unspecified)

Nicusor Dan was confirmed as president of the Save Romania Union (USR) at the congress held last weekend in Cluj-Napoca. Cristian Ghinea, a former member of the Ciolos cabinet and a current secretary of the Chamber of Deputies, failed to win a vice presidency.

Top

Kelemen Hunor: The rule of law and democracy are absent in Romania (Source: euractiv.ro; Date: 2017-05-14; Author: Unspecified)

Kelemen Hunor, president of the Democratic Union of Romanian Magyars (UDMR), stated on Saturday that Romania is a "disappointing image" because the rule of law and democracy are not working and the separation of state powers is absent.

Top

Social (2)

Farmers stage new protest (Source: news.ro; Date: 2017-05-14; Author: Unspecified)

Dozens of farmers protested on Sunday in Galati's Central Square against the authorities' decision to close the spot where they used to sell small livestock. The farmers chanted slogans against the Sanitary-Veterinary Authority (DSV) and booed the police officers sent to disperse them.

Top

ANT says number of donors down to a quarter (Source: adevarul.ro; Date: 2017-05-15; Author: Unspecified)

The National Transplant Agency (ANT) has warned that the number of transplant donors has dropped to almost a quarter and that three centers have pulled out of the national program.

Top