TODAY’S NEWS
POLITICS
10:34 Romania remains highly interested in accessing additional volumes of Caspian gas in order to cover the growing national consumption, Romania’s President Klaus Iohannis said at the ministerial meeting of the Southern Gas Corridor Advisory Council in Baku, opened alongside his Azerbaijani counterpart Ilham Aliyev, Agerpres reported.
10:29 The National Liberal Party (PNL) does not support a rise in tax rates or the introduction of new taxes, and a 1% surcharge applied to all companies will lead to “a generalized explosion” of prices, the Liberals said in a statement on Thursday.
09:49 The EU Commissioner for Home Affairs, Ylva Johansson, reaffirmed on Tuesday that Romania and Bulgaria meet all the EU criteria to become members of the Schengen area.
ECONOMY
11:16 Romania’s new passenger car registrations decreased by 12.3% in the last quarter of 2022 y-o-y while new cargo vehicles registrations went down 7.2% in the same interval, National Institute of Statistics (INS) data showed.
11:00 Rural areas in the EU are experience housing cost overburden, with the highest rates seen in Greece (22.0 %), Bulgaria (13.3 %) and Romania (10.8%), according to Eurostat.
12:03 In 2022, the total amount of foreign investments in Romanian companies exceeded EUR 50 billion, data from the National Trade Registry Office analyzed by ONV LAW showed. The top 3 sources of foreign investment were the Netherlands (EUR 9.3 billion), Germany (EUR 5.4 billion), and Austria (EUR 5.3 billion).
COMPANIES & BUSINESS
11:19 The insurance brokerage market recorded a 23% increase in revenue from insurance distribution to over RON1.48 billion at the end of the first nine months of 2022, about RON1.35 billion of which were revenue from general insurance, according to a report by the Financial Supervisory Authority on the trend of the insurance market.
10:53 Romania’s national electricity transmission corporation Transelectrica is laying the foundations for the development of its own security operational centre on US investment totalling 2.7 million US dollars, the Bucharest-listed company said.
09:58 Romania’s industrial market is going through a period of significant growth and development. In 2022, total demand for industrial space in Romania exceeded the record set the previous year by 15.6%, reaching almost 1.17 million m² leased. In the same period, net demand increased by 28.7% to almost 935,500 m², according to real estate consulting firm JLL. Read more
SOCIAL
10:39 On Thursday (Feb. 2), a number of 62,006 people entered Romania through border points, of whom 7,928 were Ukrainian citizens, according to the General Inspectorate of the Border Police (IGPF).
10:11 Romania is ranked 62nd in the world in terms of democracy, with a score of 6.45, according to the annual Democracy Index compiled by the EIU.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9005 | GBP 5.4945 |
| USD 4.4823 | CHF 4.9076 |
| BGN 2.5056 | MDL 0.2362 |
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 0.13%, BET-TR 0.13%, BET-FI 0.56%, BET-NG 0.24%, BET-XT 0.18%, BETXT-TR 0.18%, BET-BK 0.08%, RO-TX 0.25%, BETAeRO 0.57% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the green on Friday mirroring the uptrend across Europe where stock exchanges closed mostly higher, as investors were encouraged by data on the Eurozone’s business activity, which rebounded for the first time since June, possibly indicating that the Old Continent could avoid a recession. |
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