MARKET MOVING NEWS ECONOMY Romania recorded the largest VAT collection deficit in the European Union (EU) in 2022, losing 30.6% of its expected VAT revenues, according to a report by tax consultancy firm Forvis Mazars. While this figure remains high, it represents an improvement of 4.2 percentage points compared to 2021, signaling progress in tax collection efficiency. Meanwhile, economic disparities continue to
READ MOREASIA/PACIFIC Asian stock markets closed mixed on Wednesday, as investors assessed the impact of U.S. President Donald Trump’s new tariffs on regional economies and Federal Reserve Chair Jerome Powell’s comments on interest rates and economic stability. While some markets showed resilience, uncertainty loomed over the potential economic headwinds caused by trade policies. EUROPE European stock exchanges ended the session on a positive
READ MOREMARKET MOVING NEWS ECONOMY –Housing Costs on the Rise: Nearly 64% of Romanians report higher housing costs over the past year, despite homeownership remaining exceptionally high at 85%, well above the European average. (Source: Re/Max Europe’s European Housing Trend Report 2024) –Retail Sales Leadership: Bucharest dominates Romania’s retail market with 10.49% of total national retail sales, followed by Timișoara (7.23%) and Cluj-Napoca
READ MOREASIA/PACIFIC Asian markets ended mixed in thin trading on Tuesday, with Japanese markets closed for a public holiday. The Australian market edged higher, despite concerns over U.S. President Donald Trump’s new 25% tariffs on all steel and aluminum imports. However, Trump promised to give Australia’s case “great consideration,” providing some relief to investors. EUROPE European markets maintained positive momentum as investors weighed
READ MOREMARKET MOVING NEWS POLITICS Romanian President Klaus Iohannis announced on Monday that he will leave the post as the parliament is set to vote for his impeachment. “I will leave office the day after tomorrow, February 12,” the president said in a statement. In his place, Senate President Ilie Bolojan will take office on an interim basis. ECONOMY -Economic Complexity Index: Romania
READ MOREASIA/PACIFIC Asian stocks ended mixed on Monday, as escalating trade tensions kept investors on edge. Over the weekend, U.S. President Donald Trump pledged to impose tariffs on all imports of steel and aluminum and introduce reciprocal tariffs on multiple countries. Japan: The Nikkei 225 ended the session flat, as Trump threatened tariffs on Japanese goods if the U.S. trade deficit with Tokyo
READ MOREMARKET MOVING NEWS ECONOMY The Romanian government approved on Thursday, February 6, the procedure for applying the mechanism for establishing and updating the minimum pretax basic salary in the country. This measure completes the transposition of Directive (EU) 2022/2041, aimed at ensuring an adequate minimum wage for all workers. FINANCE -The Ministry of Finance (MF) launched on February 7 a new public
READ MOREASIA/PACIFIC Asian stocks ended mixed on Friday, with mainland Chinese and Hong Kong markets rallying sharply as DeepSeek AI optimism fueled a surge in tech stocks. Meanwhile, energy stocks weighed on Australia’s market, dampening broader regional gains. In India, investors assessed the Reserve Bank of India’s interest rate decision, which saw the central bank cut rates for the first time since 2020
READ MOREMARKET MOVING NEWS ECONOMY Retail sales volume in Romania (excluding motor vehicle and motorcycle trade) grew 7.8% year-on-year in December 2024, according to data from the National Institute of Statistics INS. This increase was observed both in unadjusted data and seasonally adjusted figures, signaling strong consumer demand despite macroeconomic challenges. FINANCE -Catalin Parvu, one of Romania’s most renowned bankers, has received National
READ MOREASIA/PACIFIC The Asian stock markets broadly advanced on Thursday, tracking Wall Street’s overnight gains, as investors shrugged off recent trade turmoil. Easing inflation concerns led to a dip in Treasury yields, supporting market sentiment. The Australian stock market closed higher, mirroring global optimism. Meanwhile, in a major trade development, the U.S. Postal Service (USPS) resumed parcel acceptance from mainland China and Hong
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