TODAY’S NEWS
POLITICS
09:19 Romania’s Parliament will convene in first session of 2023 on Wednesday (Feb. 1). Speaker of the Chamber of Deputies Marcel Ciolacu and acting Chair of the Senate Alina Gorghiu have convened the two legislative chambers for 16:00hrs and 12:00hrs, respectively.
09:11 Romania’s Prime Minister Nicolae Ciuca said at Tuesday’s meeting with the representatives of the Foreign Investors Council that the government’s priority is to support high added value investments, especially in areas such as digitization, innovation, development of new technologies.
09:01 Chairman of the Social Democratic Party (PSD) Marcel Ciolacu in a Facebook post on Wednesday wrote that the Social Democrats’ priority in this period is to draft a plan of measures in order to stop the increase in prices and inflation and to protect the Romanian companies.
ECONOMY
12:01 Romania’s jobless rate slightly increased to 5.6% in December 2022, from 5.4% in November, however unemployment among youngsters is at a high level of 22.9%, National Institute of Statistics (INS) data showed.
11:37 In 2022, the number of building permits issued in Romania decreased by 14.9% y-o-y, according to the National Institute of Statistics (INS). Read more
10:48 The European Commission has approved, under EU State aid rules, a EUR1.6 billion Romanian measure to set up the Romanian Investment and Development Bank.
COMPANIES & BUSINESS
12:00 More than 80% of Romanian employers currently report an employee in-office attendance of less than 50% on a normal working day and no significant changes are expected this year, a Colliers survey reveals.
11:11 In 2022, more than 6,700 companies entered insolvency up 10% y-o-y, but just 67 of them are major companies with assets of above EUR1 million, flat from the previous year, according to a survey by insolvency specialist CITR.
10:15 The Sovereign Wealth Fund of Norway, the world’s largest, owned stake in eight companies listed on the Bucharest Stock Exchange as of December 31, 2022, as well as in the leading office investor in Central and Eastern Europe Globalworth, which has a strong presence in Romania, according to the fund’s latest data.
10:09 Romanian consumers made purchases worth EUR457 million in supermarkets and other grocery stores through Revolut cards last year, according to a survey by the UK-based fintech.
SOCIAL
09:01 More than 111,000 residence permits for beneficiaries of temporary protection have been issued since March 18, 2022 and until now, according to the General Inspectorate for Immigration (IGI).
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9148 | GBP 5.5638 |
| USD 4.5152 | CHF 4.5638 |
| BGN 2.5129 | MDL 0.2417 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 16.37% (Dec. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.24%, BET-TR 0.24%, BET-FI -0.05%, BET-NG 0.30%, BET-XT 0.14%, BETXT-TR 0.14%, BET-BK -0.09%, RO-TX 0.34%, BETAeRO 0.05% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed mostly higher on Wednesday as rest of Europe closed mixed on Wednesday a couple of hours before the reveal of the Federal Reserve’s latest interest rate decision. Traders widely expect a 25 basis point increase from the Fed, but will monitor commentary for clues about how much further the central bank intends to hike, or when it plans to cut rates. |
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