POLITICS
11:17 Romania’s Ministry of Entrepreneurship and Tourism (MAT) said that Romania and Moldova will set up a joint intergovernmental economic co-operation committee immediately after the Romanian Foreign Trade and Investment Agency (ARICE) becomes operational.
11:01 Schools and education institutions which pose a high risk in the event of a earthquake, according to the expertise carried out, will be prioritized in a process of consolidation and rehabilitation through a government programme, Romania, the government announced.
11:04 President of the Chamber of Deputies and Social-democrat leader Marcel Ciolacu will make an official visit to Azerbaijan on Feb. 26-28 at the invitation made by Sahiba Gafarova, the president of the National Assembly of Azerbaijan.
ECONOMY
11:00 Romania’s economy will increase by 2.6% this year, while from the nominal point of view GDP will exceed 300 billion euros, according to Andrei Radulescu, a director of macroeconomic analysis at Transylvania Bank.
10:34 In 2022, the wholesale trade turnover (except for the trade in motor vehicles and motorcycles) increased by 22% y-o-y, the National Institute of Statistics (INS) data showed.
10:28 Almost half of Romanians (47%) prefer to borrow from family or friends, while a little over a quarter (29%) are thinking of taking a bank loan, according to a study by Reveal Marketing Research.
COMPANIES & MARKET
10:15 The best-paid freelancers and self-employed people in Romania are IT&C specialists and engineers, who earn, on average, between €2,500 – €4,500 per month, data aggregated by SOLO, a Romanian digital PFA management service showed.
10:11 The value of commissions collected by real estate company Re/Max Romania, the largest network of franchised offices in the country, exceeded 13.5 million euros in 2022, for a number of over 11,000 transactions, up 28% y-o-y.
10:00 German car company Mercedes-Benz intends to invest 130 million euros in Romania by opening a factory in Sebes and creating 526 jobs, Alba Iulia’s Unirea newspaper reported.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9248 | GBP 5.5957 |
| USD 4.6307 | CHF 4.9919 |
| BGN 2.5180 | MDL 0.2463 |
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 -0.51%, BET-TR -0.51%, BET-FI -1.30%, BET-NG -0.38%, BET-XT -0.63%, BETXT-TR -0.63%, BET-BK -0.85%, RO-TX -0.56%, BETAeRO -0.90% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks extended their losing streak on Wednesday as major European stock markets also closed the session lower, as worries surrounding the economic outlook mount ahead of the release of the minutes from the United States Federal Reserve’s last monetary policy meeting. |
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