ECONOMY
– Government debt rose to 876.288 billion lei in July 2024 from 860.331 billion lei in the previous month, Finance Ministry data showed. As a percentage of the GDP, public administration debt climbed to 52%, from 51.1% in June (GDP according to the National Institute of Statistics release of October 10, 2024).
-The per capita purchasing power in Romania amounts to 9,092 euros in 2024 which puts the Romanians almost 52% below the European average and improves their ranking by one place to 32nd, according to the newly released study “GfK Purchasing Power Europe 2024.”
-According to the business tendency survey of October 2024 published on Monday by the National Institute of Statistics (INS), Romanian managers estimate, for the next three months, a relative stability in the number of employees in construction and services as well as an increase in prices in construction and retail trade.
COMPANIES
-The Competition Council has authorised the transaction by which Greece’s Public Power Corporation – PPC intends to take over five companies in the renewable energy sector in Romania (Felix Renewable Holdings SRL, Tomis Team SA, Ovidiu Development SA, MW Team Invest SRL and TMK Hydorenergy Power SRL).
-Moldova’s agro-industrial holding Trans-Oil, which operates 49 storage facilities across the Republic of Moldova, Romania and Serbia with a total capacity of over 1 million MT, signed a Share Purchase Agreement (SPA) for the acquisition of the grain and sun oil Frial Terminal in Romania’s Port of Constanta.
-Budget airline HiSky announced the opening of a new route linking Oradea Airport to Milan (Bergamo), starting from December 17, after launching service to another two destinations this month: Oradea – London (Stansted), and Oradea – Bucharest.
HOSPITALITY
-Brasov’s 5-star hotel Aro Palace announced on Monday that it signed a franchise agreement with a Hyatt affiliate, marking the introduction of the “Hyatt Regency Aro Palace Brasov” to Romania.
-The number of tourist accommodation structures grew by 6.6% in July to 13,538 structures on an annual basis, while the number of accommodation places rose 3.8%, to 449,928, the National Institute of Statistics (INS) data showed.
ENERGY
Romgaz, the largest natural gas producer and the main supplier in Romania, is prepared for the winter season and can ensure the continuity of activity in terms of natural gas production, Robert Chirca, Romgaz production and exploitation director, told a specialist event on Monday, Agerpres reported.
TODAY’S MARKET
EXCHANGE RATES
EUR 4.9747 | GBP 5.9767 |
USD 4.6036 | CHF 5.3117 |
BGN 2.5435 | MDL 0.2556 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
BET 0.76%, BET-TR 0.80%, BET-FI -0.76%, BET-NG 1.12%, BET-EF 0.81%, BET-XT 0.57%, BET-BK 0.24%, BETAeRO -0.04%, RO-TX 0.77% |
CAPITAL MARKET COMMENTARY
Bucharest stocks rebounded on Tuesday with seven out of nine indices closing in the green. The value of transactions amounted to RON 47.69 million (EUR 9.58 million). OMV Petrom, Romania’s largest company by turnover, led gainers among blue-chips. The top oil group’s net profit rose by 54% to RON3.9 billion in the first nine months of 2024 amid the elimination of the solidarity tax. |