Netherlands-headquartered Damen group is pulling out of shipyard Mangalia which is located on the Romanian Black Sea coast. The decision came after a discussion between Damen Shipyards Group CEO Arnout Damen and Romania’s Prime Minister Marcel Ciolacu, local media reported. Damen took operational control of the shipyard in 2018 with high expectations for the operation which remained 51% owned by the Romanian
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Romania imported a quantity of usable natural gas of 1.361 million tons of oil equivalent (toe) in January-September 2024, down 10.9% on an annual basis, data by the National Institute of Statistics (INS) showed. The domestic production of natural gas totaled, in the period under review, 5.635 million toe, up 0.8% y-o-y. The domestic production of natural gas will increase, between 2024
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Sofia-headquartered tbi bank joined forces with DAW Management, one of Romania’s largest insurance brokers. As a result, Romanian clients can purchase insurance, including mandatory RCA policies, through the Buy Now, Pay Later (BNPL) solution, and pay in four interest-free installments or 6-12 installments with interest. Amid an environment where everything has become more expensive insurance policies prices make no exception. This is
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InterCapital Asset Management, Croatia’s largest independent investment manager, aims to launch a new ETF at the Bucharest Stock Exchange (BVB), offering investors access to Romanian EUR-denominated government bonds. ETFs or “exchange-traded funds” are similar to mutual funds in that they invest in a basket of securities, such as stocks, bonds, or other asset classes. The InterCapital EUR Romania Govt Bond 5-10yr UCITS
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The Japanese government is set to issue bonds worth 6,690 billion yen ($44 billion) in fiscal 2024,to finance nearly half of a supplementary budget with general-account expenditure of 13,943.3 billion yen, local media reported on Thursday (Nov. 28). The budget is being compiled to pay for an economic stimulus package aimed at cushioning the blow to low-income households from rising prices. The
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The global InsurTech market size is estimated to grow by USD 77.41 billion from 2024-2028, according to Technavio, a leading technology research and advisory company. The InsurTech market refers to the use of technology to create, distribute, and administer insurance products. This includes social insurance, life & health, auto, marine, liability, buildings, and commercial buildings insurance. The market is estimated to grow
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Romanian state-owned CEC Bank raised 300 million euro through a bond issue that was more than twice oversubscribed, the 160-year old lender announced on Friday (Nov. 22, 2024). The senior non-preferred, euro-denominated bonds were issued under the bank’s euro medium-term note (MTN) programme and were approved by Luxembourg’s financial market regulator (CSSF) following the update of the base prospectus on Nov. 18, 2024.
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The Central Bank of Egypt kept its interest rate unchanged at a record high of 27.25% on Thursday (Nov. 21), a decision correctly predicted by all eight economists surveyed by Bloomberg. The hold was the fifth consecutive hold and followed a cumulative hike of 1,900 basis points since March 2022. “Considering developments at the domestic and global levels, the committee views the
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Dubai-based multinational conglomerate MAG Group Holding witnessed a notable milestone in its business, as its portfolio of current and under development projects across its different real estate subsidiaries has hit AED 43.7 billion ($11.9 billion). The Group’s subsidiaries include MAG Lifestyle Development, Keturah, Invest Group Overseas (IGO), MBL, Shoumous, Art of Living Mall and MAG Leasing for warehouses. In total, they represent
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Gold rallied on Friday (Nov. 22) on safe-haven demand and was on track for its biggest weekly gain in over a year, propelled by the intensifying Russia-Ukraine crisis. Earlier this week, Ukraine launched its second Western-supplied missile into Russia, while Kyiv’s air force reported that Russia fired its first intercontinental ballistic missile at Ukraine on Thursday (Nov. 21) in retaliation. Spot gold
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