The Ministry of Finance reopened a bonds issue due in November 2025 and
borrowed RON 413.6 million from banks on Thursday, 7 October, RON 87
million below the scheduled level, at an annual interest rate of 3.86%.
Six primary dealers participated in the auction. The total volume of
demand stood at RON 651 million, of which competitive offers amounted
to RON 565 million, and non-competitive ones totaled RON 86 million.
The International Monetary Fund (IMF) expects inflation to reach an
all-time high this autumn and return to pre-COVID-19 pandemic levels by
mid-2022, but risks remain that shortage-driven inflation spikes could
prove more persistent. The IMF’s baseline forecasts for advanced
economies show headline inflation peaking at 3.6% in the fall of 2021
and declining to about 2% by the middle of next year. Emerging market
and developing economies will record 6.8% inflation this autumn, and
are then expected to see the rate decreasing to about 4% by the middle
Global debt levels could reach about 260% of Gross Domestic Product by
the end of 2021, though low interest rates mean the ability to service
it will be manageable, according to S&P Global Ratings. This global
debt accumulation is a necessary process given policy responses during
the pandemic, Vera Chaplin, the credit ratings agency’s managing
director said on Thursday, 7 October, during an online forum co-hosted
by Bloomberg and Asia Society Australia. Higher leverage and weakened
credit metrics amid the recovery will probably trigger more defaults,
The average rate of non-performing loans (NPL) in the Romanian banking
system stayed below the 4% threshold in the first seven month of 2021,
having decreased to 3.71% in July, the lowest level this year, but also
of the past decade, after having oscillated around 3.9% of total loans
during the spring months of 2021. The highest level of the NPL rate in
the first part of this year, of 3.98%, was recorded in February.
Transilvania Leasing şi Credit IFN (TSLA), a company controlled by SIF
Transilvania (SIF3), has concluded a RON 1.74 million real estate
financial leasing contract for a building located in Sibiu, the company
announced yesterday, through a report posted on Bucharest Stock
Exchange’s website. The duration of the contract, whose value
represents 20% of Transilvania Leasing şi Credit IFN’s turnover last
year, is 84 months (seven years).
A nearly RON 28 million contract has been awarded by Cluj County
Council to three construction companies, for the restoration and
preservation of Banffy Castle in Răscruci, Bonţida Commune, the venue
of the Electric Castle festival. The companies in question are
Constructim, Rustic and Tomoroga Construct, according to the
information available on the company analysis platform Confidas.ro.
Flanco continues its efficient expansion strategy with two new store
openings, in Sibiu and Roşiorii de Vede, both inaugurated in the
cities’ newest retail parks. The investment in the two stores amounted
to approximately RON 2 million. A number of 35 jobs were created
following the opening of the two new units.
Agroland Business Systems, a stores chain which specializes in the
gardening, pet care and hobby farming segment, has announced the
opening of its tenth Mega unit in 2021, following about EUR 200,000
investments, according to a report published at Bucharest Stock
Exchange. Located inside the Prima Shopping Center in Sibiu, the new
Agroland Mega store could generate a profit at mid-2022, according to
the company’s forecasts.
US pharmaceutical group Moderna Inc. plans to invest USD 500 million to
build a factory in Africa that would produce up to 500 million doses of
mRNA vaccines every year, including its anti COVID-19 shot. Moderna’s
proposed factory on the African continent is expected to include drug
substance manufacturing as well as bottling and packaging capabilities.
The U.S. drugmaker said it would soon decide upon the future production
unit’s country and location.
The members of the Parliamentary Committee for the exercise of
parliamentary control over the Romanian Intelligence Service (SRI)’s
activity went on a working visit to Galaţi, to Moldova Sud Regional
Intelligence Directorate of the Romanian Intelligence Service, with
competencies in Galati (headquarters), Bacău, Brăila, Buzău and Vrancea
Counties. Amid the talks, the SRI committee will propose legislative
amendments through which mayors, prefects and county council presidents
should benefit from information from Intelligence Services.
Lawmakers in the European Parliament overwhelmingly adopted a report to
protect people with disabilities on Wednesday, 6 October. MEPs agreed
there is still a lot to be done as disabled people continue to face
many barriers and discrimination across the bloc. The report, which
originated from the Parliament’s petitions committee (PETI), was
adopted with 579 votes in favor, 12 against and 92 abstentions.
Doctor Valeriu Gheorghiţă has once more called on the people in Romania
to get vaccinated against Covid-19 and has pointed out that this is the
only solution to overcome the fourth pandemic wave, which is so
virulent due to the Delta variant and leads to thousands of new cases
every day. Romania is currently in Italy’s situation in the first
months of the pandemic, he said, referring to the fact that hospitals
are overwhelmed by the number of Covid-19 patients. The doctor has
added that the lifting of restrictions had contributed to the low