Daily Newsletter - 8 May 2020


FIC (1)

May 8 - International Day of the Red Cross and the Red Crescent

The Romanian Red Cross collected EUR 6,600,000 from private donors during the "Romania Saves Romania" campaign, plus another EUR 86,364 through text messages. Among the donors and partners is the Foreign Investors Council - FIC.


Macroeconomic News (4)

Beekeeping subsidy budget is RON 150.6 million

The Agriculture Payments and Intervention Agency (APIA) announced that the National Beekeeping Program (PNA) has a RON 150.6 million budget for the period 2020-2022, with RON 75.31 million being the European Union's contribution. This year's budget is RON 50.21 million.


SME turnover down 25.7% in April

The aggregated turnover of Romanian small and medium-sized enterprises dropped 25.7% in April, compared to the previous month, according to the barometer published by SmartBill. The annualized trend was -19.2%. The barometer tracks the turnovers of more than 20,000 SMEs across the country.


MFP borrowed RON 1.8 billion

The Ministry of Finance (MFP) took out two loans worth a combined RON 1.8 billion, above the target figure. The government's six-month T-bills attracted RON 817 million in offers. This is the shortest maturity issued by the state in the past year. The average yield accepted by MFP was 2.84%, below the 3.01% accepted for the same maturity in March, 2019.


MADR launches call for projects

The Ministry of Agriculture and Rural Development (MADR) will open on May 11 the first call for projects under the National Rural Development Program (PNDR) in order to prevent and fight African swine flu in Romania under Measure 5 - Rebuilding the Agricultural Potential Affected by Natural Disasters.


Financial News (3)

BT website tells clients interest and installment values

Banca Transilvania's retail clients who applied to have their installment payments postponed or intend to apply for the facility can access to find out the aggregated interest rate, as well as the value of installments at the end of the deferral period.


Raiffeisen Bank to list 10-year bonds

On May 14, Raiffeisen Bank will list on the Bucharest Stock Exchange (BVB) RON-denominated subordinated bonds maturing in 10 years. The issue is worth RON 480 million. This is a first for the national capital market.


UniCredit Bank posts EUR 15 million in earnings

Italian financial group UniCredit, which owns the fourth largest bank on the Romanian market, reported a consolidated net profit of EUR 15 million for its local operations in the first quarter of 2020, according to the financial report released in Milan yesterday. Compared to the corresponding period of 2019, UniCredit's earnings are down 64%.


Investment News (1)

FAN Courier begins building Cluj hub

FAN Courier, leader of the national delivery market, will expand its hub network by building a new hub in Cluj-Napoca. The company is currently in the process of selecting the builder. "The investment in the Cluj-Napoca hub remains on the list of priority investments that FAN Courier will undertaken in the medium term. We are analyzing the current context and we are going ahead with the building contract auction. We are hoping to secure the last construction permit by the end of the auction," said shareholder Neculai Mihai.


Politics (1)

Klaus Iohannis: Without these fines, many more people would have died

"It's not entirely surprising that these fines are debatable today, although it's obvious to everyone that they were useful in preventing the spread of the virus," said President Iohannis in reaction to the Constitutional Court's ruling.


Social (2)

Cabinet buys tablets for students

Prime Minister Ludovic Orban announced on Thursday that he would use money from the Cabinet's Reserve Fund to buy tablets for students who do not have access to the technology needed to attend courses online. Protective masks will also be bought with Reserve Fund money and distributed to people in vulnerable social categories.


Last year, 115,800 unemployed individuals wanted to work, but were either not looking or unavailable

Last year, 115,800 unemployed individuals wanted to work, but were either not looking or unavailable, down 51.3% compared to the previous year, according to data released by the National Statistics Institute (INS) on Thursday.