TODAY’S NEWS
POLITICS
11:43 Romania’s President Klaus Iohannis said on Thursday that the Ministry of Finance must clarify whether OMV Petrom will pay the solidarity tax in Romania, Agerpres reported.
09:58 Romania approved on Wednesday (Feb. 8) an agreement concluded between the General Secretariat of the Government (SGG) – the Department for Sustainable Development and the Organization for Economic Cooperation and Development (OECD) on establishing a center of excellence for public administration.
09:48 Romania approved, by decision, the opening of the international state border crossing point with the Republic of Moldova, at Bumbata – Leova, as well as the establishment of the Bumbata Border Checkpoint, the government’s spokesperson Dan Carbunaru announced on Wednesday.
09:18 The Romanian government approved on Wednesday a defence co-operation agreement between the defence ministries of Romania and Georgia signed in Tbilisi on October 18, 2022.
09:09 The allocation of 2.5% of the Gross Domestic Product (GDP) allows the strengthening of the national structure of forces in the Defence area, National Defence Minister Angel Tilvar stated on Wednesday, at the activity report of the Defence General Staff for 2022, according to MApN.
ECONOMY
15:27 The National Bank of Romania kept its key monetary policy rate unchanged at 7%, in line with market expectations and adding to 575bps of interest rate hikes since the start of the tightening cycle in October 2021. The central bank expects inflation to reach single digits in Q3 2023.
10:32 Romania’s FOB/CIF trade balance deficit stood at 34.094 billion euros in 2022, up 44% y-o-y, as FOB exports increased by 23.1% to 91.951 billion euros, and CIF imports advanced 28.1 percent to 126.046 billion euros, the National Institute of Statistics (INS) data showed.
09:56 Two thousand twenty two was a pretty good year for the Bucharest office market in terms of demand, given the generally difficult economic climate, with demand being comparable to the good times before the Covid-19, while in the second half of the year, it was rather comparable to 2021, according to the annual report released by real estate consulting firm Colliers.
COMPANIES & BUSINESS
11:28 More than half (56%) of Romania managers and entrepreneurs have boosted the sums earmarked for investments this year against 2022, while 27% of them have kept them unchanged, according to ASEBUSS Investment Index, a quarterly survey trying to convey a clear image of Romania company investment climate.
11:16 Bucharest-listed One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, has obtained the construction license for One Lake District, a large-scale 2,076-apartment sustainable housing development located on the banks of Bucharest’s Plumbuita lake.
10:00 Romania’s Financial Supervisory Authority (ASF) has approved the acquisition plan of European Bank for Reconstruction and Development (EBRD), which will get an indirect qualifying holding in insurance company Euroins, the authority said.
SOCIAL
10:03 Another 10 Romanian nationals were flown on Wednesday (Feb. 8) to Romania from earthquake-hit Turkish cities of Adana and Malatya by National Defence Ministry aircraft, taking the total number of repatriated persons to 31, according to the Foreign Affairs Ministry.
09:46 The Romanian rescuers in Turkey managed to pull four people out from the rubble, including a 16-year-old teenager according to the IGSU’s Facebook page.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.8900 | GBP 5.5142 |
| USD 4.5374 | CHF 4.9461 |
| BGN 2.5002 | MDL 0.2419 |
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 -0.12%, BET-TR -0.12%, BET-FI 0.11%, BET-NG -0.47%, BET-XT -0.18%, BETXT-TR -0.18%, BET-BK 0.05%, RO-TX -0.29%, BETAeRO -0.28% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed mostly in the red on Thursday as Romania’s central bank kept its benchmark interest rate on hold at 7% and expects inflation to ease more-than-anticipated in mid-2024 thanks to the extension of energy price capping and compensation schemes. |
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