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Daily Newsletter - 6 October 2017

Summary

Macroeconomic News (3)

UNTRR: The prime minister has assured us a new reimbursement scheme for the over-excise for road hauliers will be implemented (Source: agerpres.ro; Date: 2017-10-05; Author: Unspecified)

Prime minister Mihai Tudose has given assurances to the National Union of Romanian Road Hauliers (UNTRR) that a new reimbursement scheme for the over-excise for road hauliers will be implemented in the forthcoming period, UNTRR informs. According to a communication sent to Agerpres, UNTRR had a meeting Thursday, at the Government, with prime minister Mihai Tudose and with the finance minister, Ionut Misa, for analyzing the impact of the growth in oil excise and price on diesel oil price, through a comparative analysis between the prices from late August (29 August) and the beginning of October (3 October).

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The Government has approved financial aid measures for the fruit and vegetables farmers (Source: economica.net; Date: 2017-10-05; Author: Unspecified)

The Government approved Thursday, through a decision, the award of financial aid to farmers' organizations and to other associative trading forms from the fruit and vegetables sector. Pursuant to a Government communique, the normative act creates the legal framework for granting financial aid to farmers' organizations and to other associative trading forms from the fruit and vegetables sector which is ensured from the European Agricultural Guarantee Fund (EAGF), consequence of the amendment of EU legislation in the fruit and vegetables sector and, at the same time, regulating the Ministry of Agriculture competences and APIA competences.

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Farmers to receive RON 87.5m more for subsidizing the diesel oil excise, this year (Source: profit.ro; Date: 2017-10-05; Author: Unspecified)

The funds allotted to the aid farmers benefit from, this year, for reducing the excise in the diesel oil used in agriculture, were raised by RON 87.5m. This aid consists in the application of a low taxation rate for the diesel oil used in performing mechanized works in the vegetal, livestock sectors and land improvements.

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Financial News (3)

Robor was not arrested, it was only placed under supervision (Source: bursa.ro; Date: 2017-10-05; Author: Unspecified)

In nowadays market economies nothing is more normal than the open manipulation of the most important prices from the market, like interests and exchange rates. However, the central banks, including NBR, continue to ceaselessly promote the illusion of functional markets, a highly convenient justification for the increasingly more obvious failure of the ultra-relaxed monetary policies.

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Radu Dumitrescu, Deloitte Romania: The consolidation process on the banking market will continue: 2018 can be a record year in completed transactions (Source: zf.ro; Date: 2017-10-05; Author: Unspecified)

The consolidation of the banking market will certainly continue and 2018 can be a record year in completed transactions, if we look at the ongoing projects, Radu Dumitrescu, partner support services in transactions at Deloitte Romania, contends.

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3-month Robor index, basing on which the interests in the most loans in lei are calculated, continues to decrease in the same slight rhythm: it reached 1.78% after NBR lent to banks. There were 15 consecutive days of growth (Source: profit.ro; Date: 2017-10-05; Author: Unspecified)

3-month Robor index, basing on which the interests in the most loans in lei are calculated, decreased slightly today, from 1.80% Tuesday, and 1.79% yesterday, at 1.78% per year. At the same time, 6-month Robor, used in calculating the interests in mortgage loans, remained at 1.87%. There were 15 consecutive days of growth, anteriorly.

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Investment News (3)

MOL has opened other two petrol stations in Romania, an overall investment of up to 3m euros (Source: profit.ro; Date: 2017-10-05; Author: Unspecified)

The Hungarian oil group MOL has opened two new petrol stations, in Busteni and Rasnov, in which it has implemented Fresh Corner concept. A greenfield investment in a petrol station is worth 1-1.5m euros, so that, according to News.ro, MOL's investment in the two petrol stations is 2-3m euros. MOL Romania chain reached 210 stations at present, out of which 67 implemented Fresh Corner concept. In total, MOL Romania planned overall investments worth 10-15m euros, this year.

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The transport minister contends investments worth over one billion euros will be made in Constanta Port by 2030 (Source: news.ro; Date: 2017-10-05; Author: Unspecified)

The transport minister, Razvan Cuc, contends investments worth over one billion euros are planned for Constanta Port by 2030, the funds for them coming from the European Commission's budget and from the state budget, increasing the depth of basins, extending the roads with high transit to four lanes and developing the railway capacity being among the projects.

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Business forum Romania-USA during 18-20 October. 100 American companies willing to do business with Romania (Source: cursdeguvernare.ro; Date: 2017-10-05; Author: Unspecified)

About 100 American companies will be present in Bucharest during 18-20 October for prospecting the local market and participating in a business forum. The action takes place within the greatest commercial mission - Trade Winds - organized by the US Trade Department in the South Eastern Europe, in several states. Organizers estimate that also around 100 Romanian companies will participate in the event, the most having business meetings already scheduled with the American firms, in order to conclude some partnerships.

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Legislative News (1)

The Government has adopted the GEO on the implementation of RO-ALERT system, which will send warning messages on the mobile phone in real time (Source: news.ro; Date: 2017-10-05; Author: Unspecified)

The Government adopted Thursday the GEO on the implementation of RO-ALERT system, which will send warning messages on the mobile phone in real time, messages that will be repeated cyclically, at configurable time intervals. "Warning messages in real time will be sent via RO-ALERT system to citizens, through the modern technologies in communications and information technology. Similar systems have proven their efficiency in the USA, the Netherlands, Lithuania, France, Germany and Belgium", the Government announces.

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Politics (2)

Tariceanu - meeting with the ambassador of Qatar state, bilateral economic cooperation was approached (Source: agerpres.ro; Date: 2017-10-05; Author: Unspecified)

The head of the Senate, Calin Popescu-Tariceanu, had a meeting with Abdullah Nasser Abdullah Alhumaidi, the ambassador of Qatar State in Romania, Thursday. According to a Senate communique sent to Agerpres, Tariceanu welcomed the ambassador for the beginning of his mission, assuring him of the whole support of the Romanian Senate in the fulfillment of his mandate of consolidating the cooperation between Qatar and Romania.

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Gorghiu: I have a bitter taste when it comes to Dacian Ciolos. It is not late for him to become an involved political man and do PNL a good turn (Source: hotnews.ro; Date: 2017-10-05; Author: Unspecified)

The PNL senator Alina Gorghiu, former leader of the party, stated Thursday that PNL had been the "most loyal partner" for Dacian Ciolos when he had been the prime minister and that it is not late for the former head of the Government to become an involved political man and do PNL a good turn, News.ro informs.

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Social (2)

"Save the Children" requests governors to implement an urgent strategy for stopping school drop-out (Source: cursdeguvernare.ro; Date: 2017-10-05; Author: Unspecified)

Save the Children Organization asks the authorities for urgent measures regarding school drop-out which has increased alarmingly and makes an appeal to authorities for ensuring the implementation of School after School program in every educational establishment. The appeal comes provided that Romania ranks very low in the EU top of drop-out and early school leaving.

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Thousands of trade unionists protested at the Government (Source: bursa.ro; Date: 2017-10-05; Author: Unspecified)

Thousands of trade unionists protested yesterday, in front of Victoria Palace, against the measure of transferring the social contributions from the employer to the employee, planned to enter into force next year, the protestors expressing their discontents with Law 62/2011 on social dialogue as well. Following the protests, the Government announced it will not renounce the transfer of social contributions from the employer to the employee, but will take compensation solutions for the effects caused by the law on remuneration into account, prime minister Mihai Tudose stated yesterday after discussing with the trade unionists.

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