Daily Newsletter
20 June 2017
Summary
- Financial incentive for employers: RON 250 per month (Source: agerpres.ro)
- CNSM concerned about debt levels and real estate investors (Source: cursdeguvernare.ro)
- Romania reported highest Q1 labor cost increase in EU (Source: zf.ro)
- Raiffeisen Bank, ProCredit Bank, BCR, Banca Transilvania, Bancpost and ING to tap EUR 400 million in SME funds (Source: cursdeguvernare.ro)
- Johann Strobl, new CEO of Raiffeisen Bank International: "Romania is a crucial market" (Source: zf.ro)
- Euro reached RON 4.6 (Source: profit.ro)
- Banks swamped by lawsuits (Source: adevarul.ro)
- Senator Zamfir takes aim at leasing market (Source: bursa.ro)
- Magyar Day bill reported out favorably (Source: news.ro)
- Motion of censure filed (Source: bursa.ro)
- Quality of life held back by medical system (Source: profit.ro)
- Only 8,144 shots of tetanus vaccine available (Source: news.ro)
Macroeconomic News (3) |
Financial incentive for employers: RON 250 per month Employers can benefit from a monthly financial incentive of RON 250 for every student they hire for summer jobs, paid from the unemployment security budget, according to a statement released on Monday by the Ilfov County Workforce Agency (AJOFM). The incentive is capped at 60 working days. Top |
CNSM concerned about debt levels and real estate investors The National Bank of Romania (BNR) will consider the "implementation of macroprudential tools in order to make sure that the population's debt level is sustainable," according to a press release issued on Monday by the National Committee for Macroprudential Supervision (CNSM). Top |
Romania reported highest Q1 labor cost increase in EU Romania had the highest increase in the cost of labor in the European Union at the end of the first quarter of this year. The 17.2% growth rate reported by Romania is ten times higher compared to the average EU growth rate. Top |
Financial News (4) |
Raiffeisen Bank, ProCredit Bank, BCR, Banca Transilvania, Bancpost and ING will sign tomorrow a series of operational agreements with the European Investment Bank and the European Investment Fund that will allow the banks to tap into EUR 400 million worth of funds in order to distribute the money to SMEs as loans. The multiplier effect is expected to increase the program's budget above EUR 500 million. Top |
Johann Strobl, new CEO of Raiffeisen Bank International: "Romania is a crucial market" Romania is a crucial market for Austrian banking group Raiffeisen, it has an amazing growth potential and offers good opportunities, being one of the three markets where Raiffeisen wants to grow above the group's rate, according Johann Strobl, the new CEO of Raiffeisen Bank International. In 2013, Raiffeisen bought Citibank's local retail portfolio. Top |
The euro continued to rise against the national currency on Monday, coming close to RON 4.6 on the interbank market. The reference exchange rate posted by the National Bank of Romania (BNR) was RON 4.5859. Top |
Banks swamped by lawsuits This year alone, the courts have more than 13,000 lawsuits in their dockets targeting Alpha Bank, SC Piraeus Bank SA, BRD-Group Societe Generale SA, Banca Românească, BCR, Raiffeisen Bank, Credot Europe Bank, Garanti Bank, Bancpost, Banca Transilvania, OTP Bank, Volksbank etc. The flood of lawsuits does not seem to abate. Top |
Legislative News (2) |
Senator Zamfir takes aim at leasing market Senator Daniel Zamfir, president of the Senate's Economy Commission, is planning to introduce this week a bill that would regulate the leasing market and the foreclosing services sector. "We don't want these contracts to be enforceable on their own. We want this matter handled by the courts," said Zamfir. Top |
Magyar Day bill reported out favorably The Senate's Public Administration and Human Rights Commissions reported out favorably the bill establishing March 15 as the Romanian Magyars Day. The report was released unopposed. "We want the Romanian state to recognize this day as the official celebration of Romania's Magyar community," said UDMR leader Kelemen Hunor. Top |
Politics (2) |
Liviu Dragnea, president of the Social Democratic Party (PSD), stated on Monday that the PSD has a "comfortable majority" in the Parliament and doesn't need the UDMR vote to pass the motion of censure against the Grindeanu Cabinet. Top |
Kelemen Hunor: The parliamentary majority has the right to change its cabinet Kelemen Hunor, president of the Democratic Union of Romanian Magyars (UDMR), said that the parliamentary majority has the right to change its cabinet and that UDMR MPs have always voted as their conscience dictated. Top |