News

Daily Newsletter - 12 January 2018

Summary

Macroeconomic News (4)

EUR 93.7 million for Start Up Nation program 

The Management Authority of the Human Capital Operating Program (AM POCU) has signed three financing contracts worth a combined EUR 93.7 million for the Start Up Nation call for non-competitive projects. "The purpose of these projects, whose beneficiary is the Ministry for the Business Environment, is to help companies develop and create jobs in Romania," said Delegate Minister Marius Nica.

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World Bank sees Romanian economy growth 4.5% this year 

The World Bank expects the Romanian economy to grow 4.5% this year, according to a recent report. The forecast for 2019 and 2020 is 4.1% and 3.5%, respectively.

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Industry posted 9.2% growth rate for November 

The industry reported a 9.2% increase in production for November, 2017, compared to the corresponding month of 2016. The main growth drives were the mining and processing sectors, according to data released on Thursday by the National Statistics Institute (INS). The previous month's growth rate was 11.6%.

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2018 - Year of Uncertainties 

The business community is watching the economy with either cautious optimism or slight concern. The rising inflation rate, the falling national currency and the regulatory uncertainties are the main problems identified by the business community, according to the eighth annual survey conducted by Keysfin on a sample group of 150 businesspersons.

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Financial News (2)

ROBOR rate falls below 2% 

The three-month ROBOR rate dropped yesterday from 2.03% to 1.98%, the lowest figure since November 14, 2017, according to information released by the National Bank of Romania (BNR). The rate is used to calculate the adjustable interest rates of most RON-denominated loans.

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Bancpost acquisition has no effect on BT rating 

The recent acquisition of Bancpost has proved neutral for Banca Transilvania's ratings, according to a press release from Fitch Ratings. The firm has recently confirmed Banca Transilvania's rating at BB with a stable outlook.

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Investment News (1)

Tulcea could have two aqua parks next year 

Tulcea could have two aqua parks next year, one built with public funds and one set up by an entrepreneur, according to mayor Constantin Hogea. The local authorities have already approved the zoning certificate and the opportunity study for an aqua park located on the outskirts of the town, close to the Zaghen area and the Fishing Village.

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Legislative News (1)

Ministry of Labor provided clarifications regarding public payroll 

The Ministry of Labor published at the end of last year a series of clarifications on the enforcement of Law 153/2017 regarding the salaries of public personnel. The clarifications were deemed necessary after it was found that some public institutions had implemented the law in an erroneous manner.

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Politics (2)

PNL wants resignations 

"Two corrupt policemen, Dragnea of Teleorman and Dragnea of Braila, are fighting over control of the Ministry of Internal Affairs, just as the PSD has already done. The PSD thinks the Ministry of Internal Affairs is the crown's jewels. Why? I find it very hard to understand," said PNL leader Ludovic Orban.

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PM Tudose wants Dan to resign 

Prime Minister Mihai Tudose announced on Wednesday evening that he does not want to continue working with Carmen Dan, the Minister of Internal Affairs, because she had "lied" to him. The PM added that Dan was willing to resign.

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