ECONOMY
-New fiscal measures come into effect on November 1, 2023 Agerpres reported. Cash payments to companies and individuals will be reduced. Payments to legal entities can be made within the limit of a daily ceiling of 1,000 RON/person. Regarding receipts and payments between a legal entity and a physical person, the daily ceiling is 5,000 RON to/from a person. Cash receipts and payments between two physical persons can be made within a daily limit of 10,000 RON.
-Italian lender Intesa Sanpaolo will acquire 99.98% of the shares of First Bank Romania from U.S. private investment firm J.C. Flowers.
-Romania raised RON303 million from banks on Monday (Oct. 30) selling bonds due in April 2036 in an auction, at an average yield of 7.15%, the National Bank of Romania (BNR) data showed.
-Growth in Romania will strengthen in 2024 towards 2.7%, driven by private consumption, public demand and certain improvement in external demand, Bursa reported citing Mihaly Kovacs, Economic Advisor at OTP Bank’s Research Centre.
-The majority of adult citizens in Romania have insufficient knowledge in the financial field, the governor of the National Bank of Romania (BNR), Mugur Isarescu, told a conference, on Monday (Oct. 30).
-More than half (53%) of Romanians manage to save less than RON 500 (EUR 100) a month, a Revolut-Dynata study on the saving and investing habits of people in Romania showed.
ENERGY
The largest photovoltaic park in Romania and southeastern Europe, stretching over approximately 170 hectares, was inaugurated on Tuesday (Oct. 31) in Ratesti, southern Arges County.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9685 | GBP 5.7168 |
| USD 4.7086 | CHF 5.1817 |
| BGN 2.5403 | MDL 0.2567 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.34%, BET-TR -0.36%, BET-FI 0.59%, BET-NG -0.43%, BET-XT -0.24%, BETXT-TR –0.26%, BET-BK -0.02%, RO-TX -0.33%, BETAeRO –0.01% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the red on Wednesday with the operator of the Bucharest Stock Exchange, Bursa de Valori Bucuresti (BVB) pacing the blue-chip decliners as its share price dropped 1.99%, data from the bourse showed. |
