News

Daily Newsletter - 3 September 2019

Summary

Macroeconomic News (1)

Number of dissolved companies down 6.92%

The number of companies dissolved in the first seven months of this year was 19,872, down 6.92% on an annual basis, according to data centralized by the National Office of the Trade Registry (ONRC). The highest figures were reported by Bucharest (3,450 companies), Timis county (999), Constanta county (979) and Cluj county (919).

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Financial News (5)

Banks expect increase in consumer loan demand

The commercial banks expect an increase in retail demand for consumer loans, but not for housing loans, according to the latest survey carried out by the National Bank of Romania (BNR). Non-financial companies, however, will be the subject of a moderate tightening of borrowing terms.

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National banking system had 34 players

The number of lenders registered in Romania was 34 at the end of June, down from 35 in the corresponding period of last year. Seven lenders are branches of foreign banks, according to the National Bank of Romania (BNR). The system's combined assets stood at RON 458.8 billion, up 3.05% year-on-year.

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Electricity price close to new record

The price of electricity reached RON 655 per MWh on the spot market, very close to an all-time high. Imports amounted to 1,200 MW, according to OPCOM and Transelectrica.

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BNR currency reserves up

The currency reserves managed by the National Bank of Romania (BNR) stood at EUR 35.6 billion on August 31, up EUR 146 million compared to the previous month. August inflows amounted to EUR 615 million.

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Systemic risk survey

The main local banks say the uncertain and unpredictable regulatory situation represents a severe risk to their business, although the severity seems to be falling, according to the quarterly systemic risk survey conducted by the National Bank of Romania (BNR).

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Investment News (2)

EAFRD to invest EUR 363.3 million in bridge

The European Agricultural Fund for Rural Development (EAFRD) will invest EUR 363.3 million in the construction of a bridge over the Danube, in the town of Braila, according to the European Commission. The project includes the roads linking the bridge to the Black Sea and to north-eastern Romania.

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Petrom mulls Art Petrol takeover

After years of sitting on the fence, OMV Petrom wants to buy the Art Petrol chain of gas stations. The chain operates eight stations in southern Romania. The transaction is currently being analyzed by the Competition Council.

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Politics (2)

Melescanu nominated for Senate leader

Senator Teodor Melescanu (ALDE) was nominated by Prime Minister Viorica Dancila to be the next president of the Senate. Dancila's price is having Melescanu split the ALDE group and shore up the Cabinet's position in the Senate during the upcoming votes on the cabinet restructuring and the motion of censure.

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PM Dancila spoke with President Iohannis about nominations

Prime Minister Viorica Dancila called President Iohannis on Monday to discuss the nominations of interim ministers for the former ALDE seats. The President said he would make a decision shortly.

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Social (2)

People's Attorney challenges decree affecting rights of disabled people

The People's Attorney has taken to the Constitutional Court a decree that infringes on the rights of disabled individuals by stripping unincorporated protected units (divisions, workshops and other structures) of the possibility of operating as economic entities, NGOs or self-employed entities.

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Three bids for first healthcare PPP

The National Forecast and Strategy Commission (CNPS) has received three bids for the construction of five multipurpose clinics under the first public-private partnership in healthcare. The project is estimated at more than RON 650 million. The first auction, which was canceled in May, attracted bids from Spain, Turkey and Italy.

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