Daily Newsletter
15 October 2018
Summary
Macroeconomic News (3) |
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Romania imports large amounts of fruit and vegetables, exports are insignificant
Romania imported fruit and vegetables worth EUR 783.1 million in the first half of this year, while exports were almost 10 times lower, according to data centralized by the National Statistics Institute (INS). Top |
Software and IT services market driven by foreign demand
The turnover of the IT sector passed EUR 4 billion in 2017, up 11% from 2016, according to the annual report of industry group ANIS. The domestic demand grew only 2.1% in 2017, reaching EUR 975 million. ANIS expects foreign demand to account for almost all growth next year. The group also forecast a EUR 1 billion increase in the value of exports. Top |
Consumption peak to reach 9,000 MW in November
The national peak consumption of electricity is expected to pass 9,000 MW in some days at the end of November, according to Transelectrica's forecast. In the past 30 days, Romania imported electricity almost every evening, when consumption peaked at slightly more than 8,000 MW. Top |
Financial News (3) |
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BCR launches Grant Management Account
BCR announced the launching of the Grant Management Account, a product designed for freshly established companies that apply for grants in order to finance projects that require double management. The special account can be used for the joint management of subsidies by the beneficiary and the administrator. Top |
Romanians can take out personal improvement loans
Romanians can start applying with CEC Bank for zero-interest, state-guarantee loans for personal improvement. The "Invest in Yourself" program gives young people between the ages of 16 and 26 the chance to borrow up to RON 40,000, while people aged 26 to 55 can borrow up to RON 35,000. Top |
IMF member countries pledge to avoid using currency devaluation in trade disputes
The IMF member countries have pledged to avoid using currency devaluation in trade disputes and to step up trade cooperation, as trade conflicts escalate and the cost of borrowing continues to rise. Top |
Investment News (1) |
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Bucharest City Hall wants to buy hybrid buses
The Bucharest City Hall wants to buy 100 autonomous trolleybuses and 130 hybrid buses. The contract is estimated at close to RON 488 million, VAT included, and most of the money could come from the Environment Fund managed by the Ministry of Environment, under a special program. Top |
Legislative News (2) |
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Minister of Labor voices pension bill hopes
The Minister of Labor, Lia Olguta Vasilescu, stated that the pension bill would be sent to the Parliament for emergency debate. "The bill will be debated. We know the payroll bill took a month to pass, despite the emergency procedure, because of the intense Parliament debate. We hope to see it passed in a month," said Vasilescu. Top |
Magistrate retirement postponed
The main stipulation of the judiciary amendments is the decision to postpone until December 31, 2022, of all retirement applications from magistrates that served only 20 years on benches. Top |
Politics (2) |
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Traian Basescu says Tariceanu has no chance to win presidential election
Former president Traian Basescu called Calin Popescu Tariceanu "the politician who betrayed all his partners" and forecast that Tariceanu would break the ALDE-PSD alliance before the election. However, Basescu expects Tariceanu's run to end in disaster without the PSD's support. Top |
President Iohannis on Italian trip
President Klaus Iohannis will conduct a state visit to Italy between October 14 and 17, part of the 100th anniversary of the Grand Union, as well as the 10th anniversary of the consolidated strategic partnership between Romania and Italy. Top |
Social (1) |
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Bucharest City Hall to grant vouchers for new cars
The Bucharest City Hall has completed the regulations of the stimulus program designed to provide vouchers worth EUR 2,000 in order to incentivize the acquisition of new an greener cars. Top |