POLITICS
11:29 National Defence Minister Angel Tilvar starts on Thursday (March 30) a visit to the United States of America, alongside the Chief of Defence Staff, General Daniel Petrescu, and other officials, according to Romania’s Embassy to the US.
10:22 The President of the National Liberal Party (PNL), Prime Minister Nicolae Ciuca, wrote on Facebook on Wednesday (March 29) that the proposal of the Ministry of Justice regarding the threshold of 9,000 lei for the crime of abuse of office will be supported.
10:12 The Senate plenary adopted on Wednesday (March 29) the government’s bill amending the Criminal Code and other regulatory acts setting at 250,000 RON the threshold for abuse of office punishable by prison time between 2 and 7 years, Agerpres reported.
ECONOMY
12:02 In 2022 the average number of pensioners was 5.004 million people, decreasing by 75 thousand people as against the previous year, while the average monthly pension increased 11.3% to 1,855 lei, the National Institute of Statistics (INS) data showed. Meanwhile, the average annual job vacancies in the country was 45,100 in 2022, up 2,400 from 2021.
09:32 The ten biggest banks by assets in Romania increased their assets at different paces last year, going from 5% to 56%, while the net assets of the entire banking system went up by almost 10% to a record RON701.4 billion, Ziarul Financiar reported.
09:19 Romania’s economic growth will slow down in the first half of 2023, amid a drop in household spending, investments and the compression of the export growth rate, but has solid prospects of a rebound in H1 2023 when it will reach 2.8%, according to estimations by OTP Bank analysts.
COMPANIES & MARKET
19:21 CTP, Europe’s largest listed owner, developer and manager of high quality industrial and logistics real estate by gross lettable area, has acquired an industrial portfolio of warehouses totalling over 100,000 sqm in Romania from French FM Logistic, a leading supply chain services company operating across Europe, which will continue as a CTP tenant for the long term.
12:01 Half (52%) of the chief executive officers in Romania expect increase in the revenue of the companies they run in 2023, but at the same time a quarter believe their organizations will not survive ten years from now if they continue as they are today and do not make transformation decisions, the PwC CEO Survey 2023 report reveals.
10:17 Erste Group-owned BCR, the second largest bank in Romania by assets, has signed an agreement with Victoriabank – one of the largest lenders in the Republic of Moldova, controlled by Romania’s Banca Transilvania and London-based EBRD, for the sale of the entire stake in BCR Chisinau.
09:11 Romanian C-suite leaders are optimistic about the future of their businesses, while recognizing the significant challenges that Romania, as well as the entire world, is facing, Mazars 2023 C-suite barometer reveals.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9485 | GBP 5.6239 |
| USD 4.5545 | CHF 4.9726 |
| BGN 2.5301 | MDL 0.2473 |
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 -0.10%, BET-TR -0.10%, BET-FI 0.58%, BET-NG -0.18%, BET-XT 0.00%, BETXT-TR 0.00%, BET-BK 0.39%, RO-TX 0.62%, BETAeRO 0.12% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks turned in a mixed performance on Thursday as markets in rest of Europe closed in the green with investors digesting the latest consumer prices data from Germany, which showed inflation in March fell to 7.4% on a yearly basis, compared to the annual inflation of 8.7% in February. |
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