Daily Newsletter
13 September 2019
Summary
Macroeconomic News (3) |
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ECB announces new monetary relaxation measures
The European Central Bank announced on Thursday a new stimulus package, in response to modest economic growth and inflation slowdown. The directors decided at Thursday's meeting to lower the interest rate of the deposit facility by 0.1 percentage points, bringing it to a new minimum low of -0.5%. Top |
Salaries continue double-digit growth
The average gross salary reached RON 5,091 in July, down 0.7% from the previous month, according to the National Statistics Institute (INS). The average net salary dropped by the same rate to RON 3,119, the equivalent of EUR 660 at the average exchange rate of August. Top |
Romania's industrial production decline biggest in EU
Romania's industrial production dropped by 3.3% in July, compared to the previous month, the biggest decline in the European Union, according to Eurostat. The European Union reported an average contraction rate of 0.1%, while the eurozone reported -0.4%. Top |
Financial News (3) |
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Telekom Romania starts layoff campaign
Telekom Romania has already started the procedure for laying off 700 employees. The workers will be paid severance based on their seniority, in accordance with the collective bargain. Top |
BNR reviews ROBID and ROBOR regulations
The National Bank of Romania (BNR) has launched a review of the regulations used to set the ROBID and ROBOR reference interest rates. The banks will have to provide closer quotations for deposits and to guarantee higher maximum amounts. Top |
ING Bank announced significant card payment changes
The new PSD2 European Directive, regarding the technical standards for client authentication, will bring major changes to many fiscal aspects, including card payments. ING Bank announced that it would increase the security level of its electronic payment options. This will make store and internet payments more secure, while also creating the possibility of new payment services. Top |
Investment News (3) |
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Foreign companies to push up local real estate demand
The arrival of many Fortune Global 500 companies to Eastern Europe will boost the demand for real estate. Romania is home to 105 Fortune Global 500 companies, compared to 139 for Poland and 111 for the Czech Republic. Top |
Danubius Health Spa Resorts becomes Ensana
Danubius Health Spa Resorts, the biggest medical spa operator in Europe, announced the creation of Ensana, a new brand of spa hotels specializing in health, the use of natural resources and modern medical expertise. The group's portfolio includes Sovata Ensana Health Spa Hotels, which will open a three-star hotel in the spring of 2020. Top |
Office space market enjoys new boom
Office space deliveries in Bucharest reached almost 180,000 square meters in the first half of the year, compared to 141,800 square meters in the whole of 2018, followed by nearly 370,000 square meters of new projects to be delivered by the end of the year. Among the most important deliveries of the first 6 months are Globalworth Renault Connected, Business Garden Bucharest, The Mark, Oregon Park phase 3 and Timpuri Noi Square Building 3. Top |
Legislative News (3) |
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People's Attorney challenges prepaid card bill
The People's Attorney has challenged before the Constitutional Court the bill regulating the sale of prepaid phone cards and the storing of personal data. According to the People's Attorney, the Cabinet broke the law by issuing a decree because there was no reason to use a decree. Top |
Parliament passes Franchise Act
The Franchise Act, which was passed by the Parliament on Wednesday, offers real support to both Romanian entrepreneurs and foreign companies, through the transparency of the franchise opening process, according to Secretary of State Paula Parvulescu. Top |
New rules for business incubators
The applications for grating business incubator status will have to be resolved within a maximum of 30 days, while the validity of the status will be extended from 10 years to an indefinite period, according to a draft bill adopted by the Government on Thursday. The new bill makes feasibility studies non-mandatory for obtaining incubator status, while the number of types of incubators was reduced to 3. Top |
Politics (1) |
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Dancila postpones confidence vote
Prime Minister Viorica Dancila has decided to postpone the Parliament's vote of confidence until after September 18, according to Social Democratic Party (PSD) sources. The PM also wants to postpone the party's executive committee meeting, which is scheduled by Tuesday. Top |
Social (1) |
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The average number of pensioners decreased by 21,000 people in the second quarter of this year, compared to the previous quarter. The ratio between the average number of state social security pensioners and that of employees varies significantly across the country, from 16 retirees to 10 employees in the Teleorman county, to 5 pensioners to 10 employees in Bucharest, according to the data of the National Statistics Institute (INS). Top |