TODAY’S NEWS
ECONOMY
-The Ministry of Finance proposes that certain tax measures aimed at introducing new taxes or increasing existing ones and eliminating certain facilities may be applied within a period of less than 6 months from publication in the Official Journal, in extraordinary situations of budget deficit, Agerpres reported.
-The number of sold income – generating real estate properties (office, retail, industrial & logistics spaces and hotels) during the first half of 2023 increased by 30% y-o-y but the average price per property decreased from EUR24 million to EUR11 million, data from real estate consulting firm Cushman & Wakefield Echinox showed.
COMPANIES
-A total 3,358 new insolvency proceedings were opened in Romania in the first half of 2023, down 4% on an annual basis, but up 13% versus the second half of 2022, according to the latest survey by Coface Romania conducted in August 2023.
-Romania’s Competition Council recently conducted unannounced inspections at Enel Romania, suspecting the utility is abusing its dominant position to the detriment of other retail suppliers and consumers. Enel confirmed the checks, pledging it will cooperate with the competent authority in this case.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9711 | GBP 5.7516 |
| USD 4.6481 | CHF 5.1812 |
| BGN 2.5417 | MDL 0.2578 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 1.00%, BET-TR 1.00%, BET-FI 0.67%, BET-NG 0.95%, BET-XT 0.83%, BETXT-TR 0.83%, BET-BK 0.54%, RO-TX 0.81%, BETAeRO 0.30% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks extended their gains on Wednesday in line with rest of Europe as investors awaited the US Federal Reserve’s summary of economic projections and the updated quarterly rate projections — known as the dot plot —at the conclusion of a two-day policy meeting later in the day. |
