TODAY’S NEWS
POLITICS
11:48 National chairman of the Social Democratic Party (PSD) Marcel Ciolacu said in a social media post on Friday (March 31) that Romanian farmers will receive new financial aid from the European Commission, based on a fair formula.
11:43 Romanian President Klaus Iohannis and Spanish Interior Minister Fernando Grande-Marlaska Gomez who was on an official visit to Bucharest, addressed Romania’s accession to Schengen area, the Presidential Administration informed.
10:01 Foreign Affairs Minister Bogdan Aurescu, who is attending on March 30-31, a summit meeting of the foreign ministers of the Bucharest Format 9 (B9) in Lodz, Poland, announced that the first High Level Conference on Black Sea Security will be held on April 13 in Bucharest, according to the Foreign Ministry (MAE).
ECONOMY
17:29 International credit rating agency Fitch has revised the outlooks on Banca Comerciala Romana S.A.’s (BCR) and BRD-Groupe Societe Generale S.A.’s (BRD) Long-Term Issuer Default Ratings (IDRs) to stable from negative and affirmed the IDRs at ‘BBB+’.
12:02 The number of building permits for residential buildings decreased by 23% in the first two months of 2023, the National Institute of Statistics (INS) data showed.
11:56 Romania’s seasonally adjusted unemployment edged down to 5.5% in February 2023 from 5.6% in the prior month, and pointing to its lowest level since September last year, the National Institute of Statistics (INS) data showed.
11:36 In 2022, Romania’s cereal grains production decreased by 32.2% to 18.84 million tonnes, from 27.79 million tonnes reported in 2021, mainly due to lower yields per hectare, according to provisional data announced by the National Institute of Statistics (INS).
11:13 Romania should consolidate its budget not because it is under the excessive deficit procedure, but to make our life easier, says the president of the Fiscal Council, Daniel Daianu told the conference on “Romania’s macroeconomic and fiscal outlook for 2023”.
COMPANIES & MARKET
12:10 Bulgarian group Eurohold, the owner of insurer Euroins with its core activity in Romania, seeks amicable agreement with Romanian market authority ASF which revoked the license of Euroins Romania, which it found to show signs of insolvency.
10:19 Bucharest-listed Romgaz National Natural Gas Company has an ambitious investment program for 2023, worth 2.3 billion RON, of which less than half will go to the Neptun Deep project, the general director of the company, Razvan Popescu, told an energy conference on Thursday.
10:00 tbi bank, a consumer and SME-focused bank with headquarters in Sofia, Bulgaria, reported a consolidated net profit of EUR35.5 million on the markets in Southeast Europe for 2022, up 29% y-o-y.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9491 | GBP 5.6256 |
| USD 4.5463 | CHF 4.9573 |
| BGN 2.5304 | MDL 0.2471 |
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 0.58%, BET-TR 0.58%, BET-FI 0.62%, BET-NG 1.76%, BET-XT 0.71%, BETXT-TR 0.71%, BET-BK 0.49%, RO-TX 0.20%, BETAeRO 0.07% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks head into the weekend higher mirroring the uptrend across Europe as eurozone headline inflation slowed to 6.9% in March, down from 8.5% in February — the sharpest fall on record, according to Reuters. But core inflation, stripping out energy and food, increased from 5.6% to 5.7%. |
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