POLITICS
09:01 Romania has the resources, the manpower and the potential to perform in the energy sector and this is the direction strongly supported by the Government, Prime Minister Nicolae Ciuca stated on Thursday (March 16) at the signing ceremony of the declaration by energy companies Transgaz, OMV-Petrom and Romgaz on the conclusion of natural gas transportation contracts, Agerpres reported.
08:50 Romania has invested over 6.6 million euro from the National Recovery and Resilience Plan (PNRR) in government cloud, Minister of Research, Innovation and Digital Transformation Sebastian Burduja told the Romanian Business & Investment Roundtable conference on Thursday (March 16).
08:37 We need to create a balanced and coherent environmental legislation at the European Union level, so that it does not represent unattainable administrative and investment burdens for farmers, Environment, Romania’s Water and Forestry minister Barna Tanczos wrote on Facebook on Thursday (March 16).
ECONOMY
08:22 Romania’s current account balance posted a deficit of EUR949 million in January 2023, down 15% y-o-y, National Bank of Romania data showed.
08:17 Romania’s industrial sales increased by 6.8% in January 2023 y-o-y and dropped by 5.3% in nominal terms in January 2023 versus December 2022, National Institute of Statistics data showed.
08:06 Romania’s finance ministry raised RON1.03 billion on Thursday (March 16) through two government bond issues, at annual average yields of 6.70% and 7.51%, respectively, National Bank of Romania data showed.
COMPANIES & MARKET
15:52 Romania’s financial regulator ASF has withdrawn the operating licence of Euroins Romania, part of Bulgaria’s Euroins Insurance Group, and decided to file a court request for starting bankruptcy proceedings. ASF has appointed the Policyholders Guarantee Fund (FGA) as an interim administrator of Euroins, a leader in the RCA insurance sector, with over 2.5 million policyholders in Romania.
08:01 OMV Petrom, the largest integrated energy company in Southeast Europe, announced on Thursday (March 16) the signing of a contract worth RON1.4 billion with natural gas transmission company Transgaz, for the natural gas delivery from the Black Sea to the National Transport System (NTS), through the Tuzla entry/exit NTS point. OMV Petrom has also called shareholders for April 26, when they are to vote on the delisting of the global depositary receipts issued by Citibank.
07:34 Romgaz, the largest natural gas producer and the main supplier in Romania, has announced that its subsidiary, ROMGAZ BLACK SEA LIMITED, concluded on Thursday (March 16) a transmission framework agreement for the transportation of natural gas to be produced from the Neptun Deep block through the National Transmission System.
07:32 State-owned Romanian nuclear energy company Nuclearelectrica placed with Romania’s import-export bank Eximbank a term deposit without extension in the amount of RON104.76 million, the company informed its shareholders and investors via two reports to the Bucharest Stock Exchange on Thursday (March 16).
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9200 | GBP 5.6132 |
| USD 4.6271 | CHF 4.9896 |
| BGN 2.5156 | MDL 0.2489 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 15.52% (Feb. 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.30%, BET-TR 0.30%, BET-FI -1.09%, BET-NG 0.56%, BET-XT 0.13%, BETXT-TR 0.13%, BET-BK 0.04%, RO-TX 0.21%, BETAeRO 0.76% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks head into the weekend higher bucking the trend across Europe where markets closed the week’s final trading session deep in the red as instability in the banking sector continued to unnerve investors despite bank-to-bank lifeline handed to fragile Credit Suisse and First Republic Bank. |
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