POLITICS
10:27 Romanian President Klaus Iohannis during his state visit to Singapore on Friday (March 10) was received by Singaporean counterpart Halimah Yacob and held talks with Singaporean premier Lee Hsien Loong, addressing bilateral cooperation strengthening and investment expanding, according to the Presidential Administration.
10:22 The Government approved in its Thursday‘s meeting a draft law regarding Romania’s participation in the capital increase of the Council of Europe Development Bank with the amount of 46.49 million EUR of invested capital and 13.128 million EUR of paid-up capital.
10:18 Romania’s Prime Minister Nicolae Ciuca announced on Thursday that 79 calls for investments in the health infrastructure will be opened in a total amount of 5.45 billion euros.
ECONOMY
11:25 Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, ended week at 6.91%.
10:14 In 2022, the net investments made in Romania’s economy amounted to almost 151 billion RON, up 8.5% y-o-y, the National Institute of Statistics (INS) data showed.
10:02 In December 2022, the government debt increased to 667.308 billion lei, compared to 654.545 billion lei in the previous month and 577.522 billion lei at the end of 2021, data published by the Ministry of Finance showed.
09:58 In 2022, Romania produced more than 2.92 million tonnes of oil equivalent (toe) of crude oil, by 179,200 toe (-5.8%) less than in 2021, INS data showed. Imports of crude oil stood at 8.7 million toe, by 1.881 million toe (27.6%) higher than in 2021.
COMPANIES & MARKET
13:23 Greece’s utility Public Power Corporation (PPC) said that as part of its acquisition of Italian group Enel’s assets in Romania for some 1.26 billion euro, it is also getting a portfolio of green energy generation projects with a cumulative planned capacity of 5.4 GW.
09:52 The three local drug makers listed on the Bucharest Stock Exchange – Zentiva, Antibiotice and Biofarm – reported double-digit revenue growth in 2022 compared to 2021.
09:45 Romania’s market regulator ASF said it ponders capping car insurance fees “in order to protect consumers.”
09:38 More than four in ten Romanians believe that a hybrid system, with 3-4 days per week of work from the office, will dominate the year 2023, a survey conducted by Genesis Property among 1,031 respondents nationwide reveals.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9136 | GBP 5.5584 |
| USD 4.6385 | CHF 4.9927 |
| BGN 2.5123 | MDL 0.2476 |
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 -0.94%, BET-TR -0.93%, BET-FI -0.63%, BET-NG -1.23%, BET-XT –0.92%, BETXT-TR 0.90%, BET-BK -1.27%, RO-TX -1.02%, BETAeRO -1.68% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks head into the weekend in the red mirroring the trend across Europe where major stock exchanges slid at the close with the financial sector leading the losses on concerns over the health of the U.S. financial sector. The plunge in banking stocks comes after a capital raise at Silicon Valley Bank led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares. |
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