TODAY’S NEWS
ECONOMY
-PKO Bank Polski, Poland’s largest state-owned bank, with assets accounting for almost 70% of the Romanian banking system, will start operations in Romania in early 2024, local media reported.
-The seven private pension funds operating on the mandatory segment in Romania (Pillar II) reported assets of RON114.6 billion in August 2023, the Financial Supervisory Authority data showed.
-Romania’s public administration debt (government debt) widened in July 2023 to RON 733.87 billion from RON 724.76 billion in the previous month, the Ministry of Finance data showed. As a percentage of the Gross Domestic Product (GDP), government debt rose to 49% from 48.4% in June 2023.
COMPANIES
A number of 42,994 companies were deregistered on a national level in the first eight months of 2023, down 7.15% y-o-y, the National Trade Registry Office (ONRC) data showed. Meanwhile, the number of commercial companies and natural legal persons (PFA) that filed for insolvency decreased by 7.17% in the period under review. Business dissolutions over January – August 2023 were 9.28% up from the year-ago period, standing at 25,153 compared to 23,016 in 2022.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9682 | GBP 5.7390 |
| USD 4.7168 | CHF 5.1530 |
| BGN 2.5376 | MDL 0.2587 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.90%, BET-TR -0.89%, BET-FI -0.54%, BET-NG -0.78%, BET-XT -0.98%, BETXT-TR -0.97%, BET-BK -1.30%, RO-TX -1.18%, BETAeRO –0.72% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the red on the first trading week of the week in line with rest of Europe where markets traded lower amid fresh geopolitical crisis in the Middle East. |
