POLITICS
10:36 Romanian Prime minister Nicolae Ciuca stated on Wednesday (March 1) at the beginning of the Government meeting that Romania is a country with seismic risk and accountability for resistance structure of the constructions over time must be regulated.
10:29 MEP Victor Negrescu who was on a working visit to Madrid, said that Spain is assuredly paying increased attention to Romania’s accession to the Schengen area, Agerpres reported.
10:22 The Minister of Culture Lucian Romascanu on Wednesday (March 1) wrote on Facebook that the construction works start at the Grivita 53, the first private theatre to be built from scratch in Romania after almost 80 years.
ECONOMY
09:59 Romania’s unemployment rate stood at 5.6% in January 2023 unchanged from December 2022, with male unemployment 0.5 percentage points higher than female unemployment, the National Institute of Statistics (INS) data showed.
09:39 The Romanian government approved the start of negotiations of a loan agreement with the International Bank for Reconstruction and Development, in the amount of 60 million EUR, to support the project on the prevention and reduction pollution in rural areas.
09:24 Romania’s foreign exchange reserves stood at EUR52 billion on February 28, 2023, higher by EUR1.8 billion versus January 2023, National Bank of Romania data showed. (March 1).
COMPANIES & MARKET
11:03 Romania’s state-owned natural gas company Romgaz profit increased by 33% y-o-y to RON 2.5 bln (EUR 500 mln) in 2022 according to the preliminary financial report published at the Bucharest Stock Exchange.
09:22 French multinational hospitality company Accor Group has signed a franchise agreement with local company Sab Serv Expres SRL for the opening of a new Mercure hotel in Bucharest in the fall of 2023, Ziarul Financiar reported.
09:17 Romania’s largest refinery Rompetrol Rafinare achieved a profit of USD 90 mln in 2022, compared to a loss of USD 129 mln in 2021. The volume of crude oil processed grew by 15% to 5.26 mln tonnes, while the higher prices pushed up the company’s revenues by 42% to USD 6.57 bln.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9218 | GBP 5.5457 |
| USD 4.6360 | CHF 4.9201 |
| BGN 2.5165 | MDL 0.2439 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 15.07% (Jan. 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.43%, BET-TR 0.43%, BET-FI -0.33%, BET-NG 1.72%, BET-XT 0.38%, BETXT-TR 0.38%, BET-BK 0.11%, RO-TX 0.52%, BETAeRO -0.45% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the green on Thursday mirroring the uptrend across Europe as minutes from the European Central Bank’s last meeting revealed that despite the challenging external environment, the euro area “was likely to avoid a recession.” In general, the economy has been more resilient than anticipated and should rebound “over the coming quarters.” |
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