TODAY’S NEWS
ECONOMY
–New car registrations in the country increased by 2.82% to 12,891 last month m-o-m, and by 19.3% to 99,466 in January-August 2023, Romanian carmakers’ association ACAROM data showed.
-Romania’s industrial production prices for the total (domestic market and non–domestic market) dropped 0.9% in July 2023 y-o-y, according to data from Romania’s National Statistics Institute INS.
-Arrivals registered in tourist reception structures (including apartments and rooms for rent), in January-July 2023, totaled 7.387 million people, up 14.7% y-o-y (INS) data showed.
-Romania’s Finance Ministry raised RON522.5 million from banks on Monday (Sept 4), selling government paper with a nominal value of RON500 million at an annual average yield of 6.71%, according to the National Bank of Romania (BNR).
-The absorption of European funds is currently 84% and will reach 88% at the end of September, minister of Investments and European Projects Adrian Caciu told the Committee on European Affairs of the Chamber of Deputies, Agerpres reported.
COMPANIES
-Transgaz, the Romanian operator of the national gas transmission network, will also operate the natural gas transmission system of the Republic of Moldova, starting September 19, on the basis of a 5-year contract signed by Vestmoldtransgaz a company owned by Transgaz and the EBRD with Moldovatransgaz.
-Romania’s Financial Supervisory Authority (ASF) has licensed the first digital crowdfunding platform in the country, which real estate developers can use to secure funding from investors for up to 60 months.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9491 | GBP 5.7800 |
| USD 4.6025 | CHF 5.1858 |
| BGN 2.5304 | MDL 0.2566 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -1.05%, BET-TR -1.05%, BET-FI -0.38%, BET-NG -0.18%, BET-XT -0.94%, BETXT-TR –0.94%, BET-BK -0.96%, RO-TX -1.09%, BETAeRO –0.60% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the red on Tuesday mirroring the trend across Europe as European Central Bank (ECB) Chief Economist Philip Lane expects “some bumpiness” in energy and food prices as a result of the subsidies that were established in different countries to reduce the impact of rising inflation and that are now being lifted in some of them. |
